One of the most neglected parts of an agents over all appeal is their pitch to win new business. If you're an agent making millions a year, chances are you have at one stage been strongly focused on pitching to win new business. Over time, as you build your reputation, it may become easier and you may not require as many pitches. However, this does take time. In order to build up that profile you need to wow vendors at your initial listings presentation. You need to remember there are generally 3 or 4 agents pitching to win the listing. Homely's tips will help you be the winner.
Before you pitch:
Ask the correct questions, take notes regarding the responses: When someone comes to sell, there are many motivations behind it. It is imperative you understand the motivation to sell from the outset. Is it purely financial? Are the upgrading? Downgrading? Etc. This is the number one thing, that if you don't get anything else, you make sure you get this. Why are they selling? Once you know that, you can tailor your presentation around it. Focus on their pain points, and how your services will alleviate it.
Some pre-qualifying questions to ask before you pitch are:
- Why did you originally buy this home? (Has the motivation changed)
- What is the best asset of the house?
- Do you like or not like the neighbourhood?
- Would you rather an incredible price or quick settlement?
- Who is the ideal buyer of this home?
- What do you want from me?
At this stage, all you should be doing is listening. You need to qualify all of the primary motivations. Once you have these you will be able to go away and work on fulfilling their primary objectives.
After you have taken your time you need to demonstrate this in your pitch:
1. Show examples of how you are the local expert:
Vendors only want the best when it comes to selling their home, what will get them to pick you over the other agents is your local knowledge and expertise. You've worked hard in building this up, so showcase it to them. Show your agent reviews and what people think of your service. Also show how well you know the market by,
- Showcasing comparative prices in the area for homes you sold.
- References from vendors in the area that are happy with your services
- Your turnaround time for similar properties (do a full walk through of how the process worked for a relatable party)
- How you position their house in the current market.
2. Demonstrate the plan of attack from the beginning to completion.
Whilst you haven't won the listing yet, you need to showcase what it is you will do WHEN you do have the listing. This means you need to show how you will handle the listing from beginning to end. Explain to them that if you win the listing, you will get started this week and this is how it will roll out:
- How you will advertise the property and where it will be shown
- How much this will cost
- How you will measure the success of the campaign at intervals along the way
- How you will shift the campaign if it is not getting the KPI's set
- What you will do differently over other agencies
- A funnel of where the campaign will lead to on auction day.
3. Show how you have the perfect communication platform:
As your vendors will be pitched from multiple agents you need to show from the beginning how you will manage the communication flow and how you will attend to their needs. It is best to schedule in catch ups from the outset. Explain you want to catch up after the first ten days and then every 3 days after that. It may only be for a phone call, however face to face is ideal. Also establish when they should expect to hear from you and NEVER let them down on this. Ideally it should work the following
- A call the day before the OFI
- A call two hours before the OFI
- A call one hour after the OFI with written notes emailed and left as a voicemail
- A weekly market recap
- Suggestions of what you will do the following week to increase traffic
This is the number one tip to ensure you are the best possible agent. If you take nothing else from this blog, ensure you set up this whole point and drill this in.
4. Show the difference between an average listing and what you will do:
Explain to vendors that there are a bunch of listings out there that get very little traction and very little enquiries. This can be due to the wrong price, the wrong advertising etc. Before you ask for the listing, showcase the benefits of how good you will make their property look. You should have screen shots of how beautiful the listing will look on your site as well as other property portals. Show them that you have done the work and you have given them a premium product.
The pitch needs to conclude with you having provided a printed version for them to have of the campaign. This needs to outline weeks 1 through to 8 and the contingency documents if certain KPI's aren't met. If you do this, you put yourself in the best position for the listing. Chances are most agents won't do this, and whilst time consuming, if you have the appropriate templates in place and make them believe you are truly involved in the process, you will be one step closer to the perfect pitch.
About the Authors:
Rocky Bartolotto is the National Sales Director for Homely.com.au - Rocky's extensive experience in introducing new product offerings to the market and client management abilities makes him one of the most knowledgeable property specialists in the country.
In addition to his time working in the online space, Bartolotto is also one of Sydney’s top auctioneers, with over 4000 auctions performed through his business Auction Services.
Todd Schulberg handles all things marketing for Homely.com.au - Living and breathing property, Todd has a keen interest in the movements in the market and how agents can utilise new tools and technology in order to be more connected. Using all things social, Todd suggests different ways that agents can engage and think outside the square with their marketing approach.