Residential Real EstateSellers Buy Benefits - What Do You Sell?
Question: Do you do a good job helping the seller understand your services in terms of their needs? You will close more listing presentations if you clearly communicate the benefits, not just the features, of your services.
Let’s look at what the for-sale-by-owner is doing without you.
He is advertising his home.
He has a ‘for sale’ sign in his yard, and
He has an open house on weekends.
Now, look at three tangible things the seller expects you to do when you list his home.
Advertise it
Put your ‘for sale’ sign in their yard, and
Hold an open house, you would be right 95% of the time. The other five percent either do not want a sign in their yard or an open house.
If these efforts don’t work for him, why should they work for you?
It’s obvious, isn’t it, that if advertising a home in the newspaper sold the homes advertised, there would not be a need for a real estate agent.
If placing a ‘for sale’ sign in the front yard sold the home, there would no be a need for a real estate agent.
If holding an open house on weekends sold the house, there would be no need for a real estate agent.
It follows, does it not, that homes sell because a Realtor has helped a buyer and seller work through major issues and strong feelings that surface during the purchase process.
There is one additional tangible service and five intangible services you provide the seller. The one tangible he can see and touch is the placement on his home in the multiple listing service.
What else does the seller believe you can do for him that he needs? In his mind, not much.
You and I know that it is simply is not true. There is much we can do for him, but we usually don’t present our services in terms of benefits. We present them as a laundry list of features.
My guess is that in your listing presentation you present a list of features. What you need is a statement of benefits with each feature.
Here are the six important services you perform for the seller, that the seller cannot do for himself or herself. Most are intangible, but critical to the sale.
You can expose his home to every member of your Association through the multiple listing system.
Seller benefit: The more exposure, the better the chance to sell the home faster at maximum price.
You can make sure prospects are preapproved and that they are always escorted by a Realtor.
Seller benefit: Greater security than now available to seller.
You can put a multilock on the door.
Seller benefit: More convenience. They do not have to stay home for an appointment that may or may not show up or who may or may not be a qualified buyer.
You can help the seller see the home as the buyers will, and recommend ways to make the home “move in” ready.
Seller benefit: Greater chance of selling the home faster at market price.
You can overcome buyer’s objections and keep them moving forward toward the purchase.
Seller benefit: A prospect who almost didn’t buy the house, may end up buying it, because you were there when the concern came up and you were able to resolve it.
You can play a critical role in the negotiations process.
Seller benefit: The seller avoids the hassles of the numerous issues that may come up between signing a purchase agreement and the financial closing. When there is a problem, the seller is dealing with someone on his side, you.
Most of you reading this article know about the above and have others you could add. The point is, as the old Indian chief once said, “To know and not to do, is not to know”.
Do you talk more about features than benefits? Do your sellers clearly understand the benefits to your services? If they do, and they trust you, you are well on your way to obtaining a listing.
Why not take a moment to review your listing presentation now against this checklist. At your next listing presentation, you will be glad you did.