The signs to watch out for during a listing presentation

Once you get inside the property you need to be aware of what the potential seller is all about, their needs and their fears.  It has nothing to do with how good you think you are.

Topic – Exist to list

Mentor – Aaron Shiner

  • Get on the same page
  • Be down to earth
  • Cut back on smoke and mirrors

Property Management Matters with Tara Bradbury – Can your entire team sell the PM service to an investor if required?

Transcript:

Kevin Turner: It’s Tuesday morning. Good morning and welcome to the show. I’m Kevin Turner and today’s show, produced in association with Property Tree from Rockend, Print force, Locked On and View. Everything you need to know to build a better business, and all in a short, sharp show everyday. It’s our pleasure to bring it to you with the compliments of those people I’ve just mentioned.

You’ll find us at Facebook and Twitter as well as at Cat Locked On, of course, one of our sponsors, where you can get more listings, make more sales. Start your free trial today with the link on our [inaudible 00:00:34]

Speaker 2: The real estate uncut property management update presented by Property Tree from Rockend, the most widely used, cloud based property management application in Australia.

Kevin Turner: Earlier in this group, and when I record with Tara Bradbury from Video Academy, we record normally about two, three, maybe sometimes four of these segments at the same time. A couple of weeks ago, we talked about the mystery shop that you did on behalf of 15 property management businesses. I want to go back to that because that sort of leads into the topic for today which is, can your entire team sell their PM services to an investor if they’re required? Take me back to a few weeks ago, on what you found out about when you asked someone for a submission for their property management services, Tara?

Tara: Well, the astounding thing was, to follow in this topic Kevin, was that five of the businesses out of the 15 didn’t even respond, which leads me to believe that maybe they are not focused on growth, or they do just have that one person in the business that’s managing it, being potentially the BDM or the business signer, and then that lead actually hasn’t got through to them because it’s gone to the initial person who’s managing the actual office email, that could be your director of first impressions Receptionist, or someone in property management, and its potentially become to hard for them in they just haven’t forwarded it on, which is really scary stuff.

Kevin Turner: And even when they do forward them on, what you did find was that so often they’re willing to, as I call it, just drop their pants so quickly.

Tara: Yeah, 100%. And I think it’s really important for the entire team to understand the value of the commission, understand the value of what the agency is offering in the way of service to secure, that new potential landlord coming into the business. Because if they believe in that, if they understand and they’re aware of what is expected for the BDM to sell, then in turn, they should perform to that same level.

Kevin Turner: So, help me here, an inquiry comes in, say via email, “Tell me about your property management services, I’ve just bought a property and I want someone to manage it.” What should be the goal?

Tara: I think every single person in the business should have access to a basic[inaudible 00:02:49], which gives a profile on someone, let’s say, of the property management business. It could be a taste of the listing presentation, and such. And then a set email, which can be very simple in your Outlook saved in your QuickPaths or somewhere saved on your laptop system that you’ve got that there to be able to send out.

And you can send a touchpoint on behalf of that person who will be connecting with them very soon. It could even be a list of questions to respond back with, or you could respond back to the email, and even just CC in the BDM if that’s the person who will be handling and say that you’re passing on the information and they’ll be in touch very soon, they just can’t be at an appointment. Just something that there is a touchpoint there so they know you’re on mind, it is going to happen. People understand that we’re not just going to be there within moments and, as I mentioned, one of the officers did respond in 30 minutes, which I thought was quite impressive. But that’s not 100% expected. It’s great if you can do that, and in saying that, if your competition’s in that area you wanna make sure that you’re doing it as quickly as possible.

Kevin Turner: Yeah, the goal here should be to get in front of that person as quickly as you can, to get to do your pitch. So what have you got to do to do that? And the other thing, too, Tara, is to make sure that you’ve got some kind of follow up system, because I understand that not many of the offices you contacted actually followed you up after that initial contact, Tara.

Tara: Correct. So I’ve responded back, and some of them still to this day have not responded back to my follow up email. Or when I did take an extra 48 hours to respond back, there was only a handful that actually responded in that time period to make sure that I received the email, and if I had any additional questions as well.

Kevin Turner: Yeah, so a couple of things here: make sure you push to get that appointment, make sure you have some kind of system in place to capture all of these leads and do something with them, and then have a follow-up campaign with them, Tara.

Tara: Yeah, and if I can just add quickly, when the calls are coming in to the business, make sure that whoever is taking those calls does have the confidence to be able to be engaging in them as an investor, because if you cut them off at reception, and say, “I’ll take your name and number, and Tara, our BDM, will give you a call back.” They are ready to make that call because they’re ready of offload, or there’ll be a problem, or something. They want to be heard, and that’s why they’re making that call. So we need to allow that opportunity to happen, and take as much information as we can, and maybe, for the BDM, make sure that there are some pre-set questions there that allow that person to engage on a comfortable level.

Kevin Turner: Such a good point, as always. Tara Bradley, from BDM Academy, a wealth of knowledge as a regular guest here with us, and we talk to Tara every week, on behalf of Property Train, we thank them for this. Thanks for your time too, Tara!

Tara: My pleasure, thank you!

Speaker 2: Property Tree is the cloud-based property management software designed by Rockend. Being cloud-based, this means that you can work any time and anywhere. Providing you with the ultimate in flexibility, so you can focus on other things. Rich in the range of features and benefits, talk to Rockend about making your working life simpler, and how to grow your business with property tree. Call 1-300-657-700 or use the link at [inaudible 00:06:10].

Speaker 4: More thoughts now, from this week’s mentor.

Speaker 5: Joining me once again this morning, Aaron Shiner. And Aaron’s been behind many great innovations in the industry, and we’re pleased to have him as one of our mentors behind Real Estate Express Results, which is a compilation of well over ten years of tremendous material that’s been given to me by people like Aaron, and we’ve tried to make it nice and easy for people to access all the audio and all the video, and all the download material so that it’s there for you when you need it, Aaron.

Aaron: Yeah, I really like Real Estate Express Results, it’s broken down between some audio, some video, but more importantly, all the different categories, from the listing presentation, to buy negotiation, to fees, it’s all there, so if you need help in one specific area, heaps of good quality mentors, there’s unbelievable names in there that can help you with that specific item. It’s a great resource.

Speaker 5: And I think this week is a classic example too, where we’re giving you an insight as to how Aaron works as a listing machine. But inside [inaudible 00:07:17] we actually go into more detail and give you download. As an example, yesterday we talked about the agenda, what goes into the agenda, what has Aaron actually discussed. We can go into a lot more detail, but certainly [inaudible 00:07:32] is just designed to give you a bit of a shot each day. Aaron, I want to talk to you today about the signs that you watch out for during the presentation. Yesterday we talked about setting the foundation, but what’s some of the language you use and some of the signs you watch out for?

Aaron: Yeah, and that’s a good question. Being on the same page as a client is just as, or probably the most important thing. So many times I’ve been guilty of it, as probably other agents have. And even agents that I coach, and we fall into that habit when we miss a listing, and we say, “Oh, we missed that listing because the other agents charged us.” Or they say, “Oh, the other agent overpriced it.” Something of that nature.

Speaker 5: Excuses.

Aaron: There is excuses, and it’s so easy to sort of hang your hat on that and make ourselves feel better, but one of the things for me when you’re talking about one of the things to watch out for, the first thing for me is connection. There’s been times in a listing presentation where you’ve secured the listing, and you’ve been at a higher percentage, or you’ve had a lower price range or price guide. And you still want it, because the reality is this: People don’t just list with the cheapest or the cheapest on sale, the highest on commission. They list them for two reasons. One: Who they think is best value. So if they can say that you can add more value, is absolutely critical. And thing number two: They’ll list with somebody that they like and that they trust and that they have a connection with.

So for me, it’s not about the sale, the price, it’s about how well you connect. So if I miss a listing, and the knee jerk reaction is just to say, “Oh, I missed it because the other agent was cheaper.” But realistically I’ve got to look at myself in the mirror and say, “No, I missed that listing because I didn’t connect with that person on a personal level. I didn’t have a rapport with them, that the other agent had. Or, secondly, I didn’t get to the level of value to be able to overcome those objections.”

So when you talk about what are some of the things to look out for, for me the first thing is being authentic, being down to earth, and being an absolute straight shooter. Because then how you would want an agent to present, cut back the smoke and the mirrors and give them good, solid information. One of my old mentors, they’d say, “You got two ears, one mouth. Do twice as much listening as you do talking.” Ask a lot of questions. Build a level of empathy, the position from the client’s point of view instead of just continually pitching your agenda, why you’re the best, all the brain-ing that you go ego-centric on in real estate.

Speaker 5: You made a very good point yesterday when we were talking, you said, “forget thinking you know what they want to cover, ask them what they want to hear about.” Because you could think they need some objections over come that was never even occurred to them.

Aaron: Correct, 100%. Don’t guess, just ask. And that’s the whole thing about having a question based presentation. Will allow you to discover what their needs are, what their concerns are, and how they’re gonna select an agent. One of the great question is, “Mr. And Mrs. Seller what are the three things you’re gonna base your selection of agent on.” Very simple, but great question to ask.

And also, sort of keeping on track for all this, one of the things you’ll always want to introduce is some trail closes. You want to introduce some test closes to make sure that you’re on the same page, and makes sure that everything your covering, and you can ask somebody, “Are we all good so far? Everything I’ve covered so far? Does it make sense? Are we on board? Great.” As long as you’re content to keep going. Finish a section, or a module, a pod, whatever you want to call it, every time you break down that part of the listing presentation, when you’re about to move forward, before you do, ask, “Do you have any questions? Are you cool with everything we’ve spoken about so far?” So you’re gonna isolate, close, move on. There’s no point skipping forward to step four before they’ve completely understood what step 3 entails and that they know they’re okay with it. Because when you get to the end of the presentation, they’re just gonna turn around and say, “Oh, well, we’re gonna have to think about it.” Because you haven’t been able to answer everything else confidently.

Speaker 5: Yeah, so well said. And tomorrow, I’m going to ask you whether or not we talk price at the presentation or whether you do it. Because one of the questions they can say, or when you say, “What is it you want answered?” Is that they can say, “We want to know what you think our place is worth.” And so that’s the key question I’m going to ask Aaron about tomorrow. We’ll talk to you then, mate.

Aaron: Thank you.

James Xavier: Famous Marilyn Monroe said, “I’m selfish, impatient, and a little insecure. I make mistakes, and I’m outta control, and at times, hard to handle. If you can’t handle me at my worst, then you sure as hell don’t deserve me at my best.” Be a little bit more tolerant today. I’m James Xavier, have a great day.

Aaron: Thanks Jim, that’s it for today. Thanks for your company, look forward to catching up again tomorrow morning.

 

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