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Business Bros – Episode 40 – 7 Step Listing Process for Real Estate Agents Part 1

Published in Business, Business Bros, Business Bros Podcast

In this episode we discuss why it is important to look at your Real Estate business from a Cash Flow perspective and take the necessary steps to develop a system to become a dominating listing agent. If you are tired of going through feast and famine, cash spurt real estate cycle, then this process and becoming a listing agent is the way to cure your financial dilemma. We invite you to broaden your skills and do what it takes to take your Real Estate business to the next level. Join the conversation on Facebook @SiasFirst. As a Harris Certified Real Estate Coach, I encourage you to schedule your free coaching call on our website www.SiasFirst.com. Music by www.bensound.com

7 Step Listing Process  (Harris Certified Real Estate Coaching Presentation)

    1. You must list to last in the Real Estate game
    2. Listings are mental labor, Working with buyers is physical labor
    3. You can handle more listing business than buyer business
    4. Being  a listing agent requires education, skill, polish, motivation and perseverance than a buyer’s agent.
    5. Listing agents make more money, more consistently with less stress.
    6. Listing agents know how to consistently generate listing leads, follow-up, prequalify them, present in a way that they take the listing, negotiate in a way that they sell the listing and close the deal.
    7. They do this in a way that the seller trusts them and refers them.
    8. Listingagents work with more than repeat business. They successfully help “colder” leads due to their high level of skill and confidence
    9. FACT: Many agents do the same amount of business every year because they are dependent on what comes in naturally ie The Easy Button. To go to the next level you must learn to not just work with people you know but with people you don’t know.

Seven P’s of a Listing Agent

  • Profit comes from Previewing, prequalifying, preparing, PLP and a polished professional presentation. (prayer doesn’t hurt either)

 

  • Step 1: Generate the lead

 

      1. Remember the spokes on the wheel. Lead generation isn’t achieve by one, magic silver bullet.
      2. You should implement at least 5 spokes of lead generation.
      3. Do what you don’t want to do, when you don’t want to do it, at the highest level
      4. If you struggle with lead generation get help!! Real Estate doesn’t have to be feast or famine, no more roller coaster income.
        1. Commit to ending cash ‘SPURTS’ and get into cash ‘FLOW’
        2. It starts with Lead Generation

 

  • Step 2: Follow up with Urgency

 

      1. Follow our 18 Lead Follow Up Rules, starting with understanding URGENCY!
      2. Never end the day without following up on 100% of your leads.
      3. Doesn’t matter if they came in via email, voicemail, text or online. FOLLOW-UP
      4. Buyer leads are listing leads in buyer’s clothing. Don’t blow off your buyers just because “you have to many buyers”. Use scripts like “which home in the area do you plan on selling?”

 

  • Step 3: Pre-Qualify for motivation and time frame

 

      1. Prequalify 100% of your leads, both buyer and sell, 100% of the time, using buyer and seller pre-qualification scripts, 100% of the time.
      2. Don’t use different rules for different types of leads.
      3. Always know the following prior to listing appointment:
        1. Seller’s time frame
        2. Sellers motivation
        3. Are they buying as well?
        4. Are they speaking with other agents, if so how many, who and how did they decide?
        5. Price they have in mind and why

 

  • Step 4: Send the Pre Listing Package

 

      1. Always send your powerful, proven pre-listing package before every listing appointment, no exceptions. Fedex, drop off any way but do it.
      2. Warning: Just because no one in your office does this, doesn’t make it right. It makes it more important and obvious why you’ll stand out and take more listings!
        1. Take your time to make your PLP shine!
        2. It’s one of the most important tools you’ll ever use

 

  • Step 5: Confirm the appointment

 

      1. Always confirm and always show up even if you just left a message of confirmation. Don’t start making thing up in your head. Don’t make excuses why not. Confirm and go. Don’t let your ego stop you.
      2. Always ask if they received the PLP AND if they opened it
        1. You’d be surprised how often you hear them open it over the phone
        2. Script “I want to make sure you got the information I placed inside”

 

  • Step 6: Present! It’s Showtime

 

      1. Presentation begins when you convert prospect to appointment. The better you are at the beginning the higher chance you have of actually taking the listing.
      2. Use our powerful and proven listing presentation. Don’t wing it. Even with past clients, sphere of influence, referrals, slam dunk appointments.
      3. Theydeserve your utmost respect and professionalism. Don’t skip steps.
      4. Preview the competition and pending listings to be as accurate as possible in your pricing.
        1. Pricing it right in the first place prevents you from having to deal with price reduction conversations later.

 

  • Step 7: Close!!

 

    1. ABC, Always Be Closing. Know how to use soft closes, direct closes.
    2. Don’t walk out the door saying “OK, I’ll follow up in a few days” Instead, leave with signed documents in one step whenever possible.
    3. The definition of CLOSE is that it is the LOGICAL ending to a GREAT presentation.
      1. It’s far easier to close when you followed all the previous steps
    4. Don’t drop the ball once you have the listing, you are still presenting until the seller gets that check at closing.
      1. Follow your listing plan of action.
      2. Strive to under promise and over deliver
      3. Use our Seller’s 12 week communication plan especially if listings are not selling quickly in your market.

REMEMBER

  1. Listings are mental labor; buyers are physical labor
  2. Being a great listing agent takes skill, practice, experience and perseverance.
  3. Commit to becoming the best and soon you’ll feel more freedom in your practice and less stress.
  4. How many buyers can you work with and the same time? How many sellers?
  5. The lifestyle of the listing agent is much more flexible as it’s more scale-able than buyers agents.

HOMEWORK

  1. What steps must you take so you’re following 100% of the 7 step listing process?
  2. What would happen if you did those things?
  3. What would your goals be if you knew you could take very close to 100% of the listings that you went on, even the ones that were referrals?
  4. Would you prospect?
  5. Would you be more urgent on your lead follow-up?
  6. The better your listing skills are, the bigger you can think!

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