Have you ever found yourself awake during the middle of the night and switched on the TV? Chances are you stumbled upon an infomercial.
You must admit; these infomercials are mesmerizing. You watch as an exhausted and frustrated person (not unlike yourself) struggles to scrub the dirt off their pots and pans, but wait! Soon you see the same person effortlessly use the latest and greatest tool to clean those dirty dishes like new!
After a few minutes of watching, you are picking up the phone because you simply can’t imagine how you have lived without this gadget — or a least a part of you considered it.
Why are infomercials so effective (besides the fact that nobody else wants the dead air TV slot, so they’re cheap, fertile marketing ground)? I’d argue it’s because they use the power of comparison.
The real estate agent connection
As agents, we can win business by using this same approach to effectively compare our attributes to the alternative product (other agents).
Using this strategy will not only increase the effectiveness of your listing presentation, but it will also improve the efficiency. Most agents spend close to an hour describing why they will be the world’s greatest listing agent, but they don’t provide any concrete data on how they compare.
By focusing on contrasts, an agent can win business with potential customers in minutes rather than hours.
To create an effective comparative listing presentation, agents should include the following:
Comparative sales data
Do you know your numbers?
- Average days on market
- List to sales price ratio
- Sales price per square foot
- Success rate in the local market compared to the average agent
These are numbers every agent should know; they are your key to easily informing potential customers on why you are different and why they should hire you.
Look up these numbers, then create a one page graphic that shows your stats compared to the average agent in your market.
Imagine how impressed a potential client will be when they see you sell a home 32 days faster than the average agent and for nearly 2 percent more.
Are you newer in the business? No worries!
If you haven’t had the opportunity yet to produce impressive statistics, you can use the numbers of your office or company to do the same comparison method. This approach will “wow” and impress, but it will also greatly reduce commission objections when you effectively show your worth.
Comparative marketing plan
Most agents do two things to market a property:
1. Put the home on the MLS
2. Pray that home will sell.
What do you do differently? Make a list of all the things you execute to market a property and put it side by side with the typical agent’s marketing.
Showing this comparison will prove your worth and illustrate your value.
The process of creating a comparative listing presentation will force you to take a hard look at your current marketing and sales statistics.
If you are not happy with what you see, focus on improving those areas to better impress your potential clients.
Use this as an opportunity to talk to other agents you respect and ask what they do to effectively market a property to sell. Add some of these best practices to your marketing plan.
By taking these steps, you are well on your way to creating a comparative listing presentation that is just as effective as the most mind-blowing infomercial.
Lynn Wheeler is a Realtor in Indianapolis. Connect with her on Twitter.
