Sellers are Yellers???
We've all heard the saying, and I have to admit, it's always made me cringe a little. Sellers want to be treated well, and when they express frustration, it's often just stress talking. I always try to remember that when working with clients. But let's be real, some sellers do wade more than a little into the deep end of crazy and some relationships are not worth pursuing. But let’s focus on the majority.
I was recently on a call with the Agent Team Leader (ATL) group discussing our overall goal of improving listing success rates. My question to them was, "What is the most impactful activity you can do to build trust and create loyalty with your active sellers?"
The theme from all of these high-producing team members was clear: consistent communication. I know, it sounds simple. "George, I talk to my sellers all the time." But what are you saying? Let’s dive deeper into what and how this group communicates with their seller clients.
Sellers want their home put on a stage with a huge spotlight. They want to know that we are doing everything in our power to promote it. This must be communicated consistently and effectively. They also need to know what the competition is up to.
Once you’ve got these basics nailed, consider implementing the following best practice that Jason Sequeira employs to communicate with a seller on a weekly basis.
Every week, Jason sends all of his sellers a screencast breaking down the marketing and competition. The video screencast is about 5-10 minutes long.
Here are some of the steps I would recommend including on a video:
1. Walk through the seller report: How many views, social media promotion, email marketing, traffic on Zillow/Realtor?
2. Share other marketing efforts you have completed. Have you held open houses? Shared social media posts? Mailed print marketing? Sent out email marketing? Completed circle prospecting?
3. Review the current competition: What are the actives doing? How long have they been on the market? Did anything go under contract? If so, why?
4. Go through any feedback you received.
5. Talk next steps: This week we are going to solicit a cash offer from investors, host another open house, create a new social media video.
The power of the screencast is a game changer. If you do nothing else, implement this practice of a weekly update with your listing clients so they know that you are keeping them in the spotlight.
The Last 30 Days
You may have seen the appointment set form on the FUB widget. If not, check it out. It’s a great tool for communicating with and leveling up the professionalism for your next property tours. Julia put together a 1 min loom video walking through the form.
The Next 30 Days
The New AAR Forms
I spent some time reviewing the new forms and two stood out to me that I think might be the most consistently used, especially with a Flex transaction. Buyer-Broker Agreement to Show Property & Seller Compensation Addendum. It would make sense to use the BBASP when meeting a Flex lead. You could have them sign a shorter term and then firm up with a BBA once trust is built.
The SCA is the perfect contract addendum to request compensation from the seller with an initial offer.
Continue to get really familiar with these forms!
The Election Effect
I’m getting a ton of questions lately from friends and family on how an election year affects the real estate market. Any time you receive questions on the same topic you should consider creating a video around that topic. Keeping Current Matters(KCM) did a great update on this recently. Here is a video script suggestion along with relevant slides from KCM:
Must-Watch Video:
Ok…I don’t know if this is a must watch, but if you want to dive deeper into the election year stats, check this out. 18min video of David Childers w/ KCM explaining how the housing market is affected during an election year.
Since last week, the Wednesday trainings have revolved around the buyer broker agreement and settlement changes. If you weren’t able to make it, here are the recordings:
7/17 Recording: BBA & NAR Settlement Training
Video: Agent Library
NAR Changes Deck : Agent Library
Forms: Sample Forms
7/24 Recording: BBA & NAR Settlement Training
Video: Agent Library
Forms: Sample Forms
Laughton Agent Shortcut: https://docs.google.com/spreadsheets/d/1i6hpRjis7RD2ZMgJDAr_JG3GN4zYeUDGBuv3cPLQI4s/edit?usp=sharing
Just For Fun:
Just like in the song “Our house is a very, very, very fine house”, our goal is to make every seller feel that their property is special, cared for, and in the spotlight.
Quote of the Month
“Price is what you pay. Value is what you get.” - Warren Buffet
By investing time in consistent and thoughtful communication, we’re adding immense value to our service, far beyond the transactional aspect.
GL
Comments