Welcome to the final write-up on how to get a listing in 14 days. We’re going to cover how to best prepare yourself to handle objections and finish off the listing conversation with success!
This guide is a continuation from Part One and Part Two. Make sure to read that first if you haven’t already.
Ask Questions & Interpret Desired Outcomes
By now you know that asking questions is the best skill a salesperson can develop. The obvious benefit of asking lots of questions is you get to understand your prospect’s needs to better serve them. But there is a secondary benefit for you that is more discreet, and that is gathering information to help you handle objections in the conversation.
We often see more extreme examples of this in real life. In legal and law enforcement contexts, the practice of asking questions is done so that testimony can be used against the individual to expose inconsistencies, weaknesses, or admissions of guilt.
In more insidious circumstances, the act of trap questioning is used to maliciously coerce individuals to act in ways they otherwise wouldn’t. This is highly unethical and far from what we are talking about here. As a salesperson, you should never be selling by using manipulative tactics.
So let’s look at how we ask questions and responsibly use that information to help a prospect make a more informed decision. It’s time to be a fly on the wall and listen in on a skilled agent at a listing appointment.
Agent: Thanks for having me over! Can you give me a quick tour of the property, and while we’re looking around, highlight the parts of the house you’re most proud of.
Seller: **shows the agent around the house** We just recently renovated the kitchen and we think it’s the showpiece of the property. Also, we think the view of the park from the backyard is a premium feature and the swimming pool is going to be a big selling point.
(Agent makes mental note of seller’s enthusiasm about the kitchen, backyard, and swimming pool. This may reflect in the seller’s price expectations)
Agent: Great, and how much did you spend on renovations since you moved in?
Seller: The kitchen cost us $40,000 and we’re hoping to get that money back. Also, we added other things like a water filter system under the sink and a cast-iron railing on the staircase.
(Agent makes mental note of $40,000 investment)
Agent: Okay, noted. The house is lovely, you’ve done a great job in maintaining it. Why are you selling by the way?
Seller: Well, I just got a job offer in another city that starts in 2 months and we’ve already signed a rental agreement for a condo there, so we have to sell now.
(Agent makes mental note that seller is under a tight deadline)
Agent: Congratulations, that must be very exciting. That means that our latest closing date will have to be August 15th, is that right?
Seller: Yup, that date would work.
Agent: Sounds good. Tell me, have you ever been through the process of selling a home before?
Seller: Yes, we sold our last house prior to buying this one.
Agent: Okay great, how did that experience go?
Seller: It was fine, the agent did their job and that was really it.
Agent: Was there anything that the agent did that you liked or didn’t like?
Seller: She listed our home and we had several showings, but she didn’t give us any updates on buyer feedback. We had no idea if things were going well or not. About a month afterwards she called us to say she had an offer. It felt like she just disappeared for the whole month.
(Agent makes mental note that feedback is important)
Agent: I see, was there anything else?
Seller: Yeah, she didn’t even bother doing any open houses for us.
Agent: Gotcha, sounds like that was something you wanted but didn’t end up getting?
Seller: **nods** All she did was list the property on MLS and then she vanished.
(Agent makes mental note that open houses are important)
Agent: Wow, okay… was there anything she did that you did like?
Seller: Well, she did do a drone video of the property and we thought that was really cool.
(Agent makes mental note that drone video is important)
Agent: Thanks for sharing your last selling experience with me. Tell me, have you been following what’s been happening in the market?
Seller: We’re reading that the real estate market is still going up. That house down the street sold for $850,000 and we think our house is much better than theirs. Also, we went to the open house around the corner and saw that listed for $975,000.
(Agent makes mental note that sellers likely expect more than $850,000 and is aware of neighborhood sales)
Agent: And what did you think about it?
Seller: Those people are crazy, they’re not going to get that price.
Agent: How do you feel the house compares to yours?
Seller: It’s a little bigger than ours but it’s still not worth that list price! They don’t have any upgrades and they back onto another home.
Agent: Did you have a price you had in mind that you wanted to list at?
Seller: Well, that’s why you’re here, you’re the expert. What do you suggest?
Agent: We can certainly go over the CMA I’ve prepared that shows all the recent sold listings that are most comparable to your home. I’ve also included ones with swimming pools and without, and you’re going to find that pools don’t often mean a significantly higher sale price because some buyers see it as a potential expense or even a liability. But let’s go over all of these in more detail…
Let’s examine what we’ve learned so far based on the seller’s expectations of selling this home:
- The seller must sell with only 2 months to finalize everything
- The seller expects to recoup the $40,000 cost of the kitchen renovation
- The seller believes the home has a premium backyard view and a swimming pool that will add value to the listing price
- The seller expects their realtor to provide regular feedback, conduct open houses, and sees value in marketing tools such as drone videos
- The seller would likely not list for less than $850,000
As the agent continues to ask more questions during the conversation, he gets a better understanding of the seller’s beliefs and compiles specific data points to address later objections.
Here are some sample objections that may come up and how the agent would address them:
Seller: I think we should list the house at $950,000.
Agent: I understand why you feel that way, especially since you mentioned the home around the corner listed for $975,000. Based on the recent sales of comparable homes, including swimming pools, some homes listed higher but the ones that sold quickly and for the best prices were listed more competitively. Our goal is to attract as many buyers as possible and create a sense of urgency, especially given your timeline. Given the competition out there, listing at around $900,000 will generate more interest and offers, potentially driving up the final sale price through competition.
Seller: Why can’t we list higher and reduce the price if needed?
Agent: While that strategy works in some cases, we don’t have time to take that risk with your time frame. Currently, it takes on average 28 days for a home to sell in this neighborhood, and we need to list now to give us enough time to find a buyer who wants a quick closing.
By effectively using information gathered during the initial conversation, the agent can address the seller’s objections in a way that is both informative and reassuring. This approach not only helps in overcoming potential hurdles but also builds trust and demonstrates the agent’s expertise and understanding of the market and the seller’s needs.
You will find that the quality of your listing appointment relies entirely on your ability to ask the right questions and gather information.
Agents who have a higher closing ratio on listing appointments have mastered the art of guiding a conversation towards a purposeful end. Agents who frequently lose listing opportunities are undoubtedly stuck in presentation mode.
Once you are done gathering insights from asking questions, you can move on to providing information that is relevant to the seller to gain their confidence and win their trust. Let’s jump back into the previous conversation a little later down the line.
Seller: So what kind of marketing do you do and how much do you charge for it?
Agent: Great question. I don’t believe in creating different marketing packages with different commission fees. For example, you might see other agents advertise diamond, gold, and silver packages where the commission drops as services are taken out.
Seller: Yes, we spoke to an agent who gave us those exact same choices.
Agent: Right, it’s quite common. But I’ve been doing this long enough to know that if you’re going to list a property, you need to use everything at your disposal. Why would I remove important tools and make it more difficult for us to attract buyers and sell your home? That’s like going into battle with a plastic sword and cardboard shield because it’s cheaper than steel.
Seller: Okay, so what is it that you do?
Agent: I believe that when we list your property, we’re going to have a short window to attract attention over the other comparable competing listings in the area. I’ll arrange to have a professional stager walk through your home to advise us on how we can showcase your home in the best light. Following that, I’ll arrange a 3D tour company to come in and take photos and prepare the virtual walkthrough model.
Seller: Ooh, we’ve seen that on other listings! You can click through the house and it feels like you’re inside.
Agent: That’s right. My experience has shown that listings with a 3D dollhouse tour get at least 30% more views. I’m also going to schedule my drone operator to pop by and shoot aerial footage of the home and the surrounding neighborhood.
Seller: That’s great, we love those videos. We think the buyers will get a good sense of how our home backs onto a park and they’ll see the size of our swimming pool.
Agent: Exactly. And just so you know, Mr. and Mrs. Seller, even though we’re using every tech tool to get you the most views on your listing, I still believe that buyers fall in love with a home when they’re inside of it, not when they’re online. That’s why I want to have an open house every weekend to give people a chance to see your property in person.
You may have noticed that the agent is intentionally highlighting some of the key services that are important for the seller. Asking great questions will reveal essentially everything that the homeowner expects from you as their listing agent.
Remember, in Part Two of this guide we talked about the significance of conveying your value across three areas of your skillset: marketing, negotiating, and guarding.
You bring immense value from your ability to negotiate a higher price and protect the sellers from any issues that may appear. If you make your listing appointment about only the marketing aspect, you will struggle with many objections. Your ability to articulate all three components of your service and assure the sellers of your expertise significantly reduces commission objections.
Objections disappear when you provide so much value that your commission will seem perfectly fair.
Guess what? If you’re having a hard time convincing someone of your value, it’s likely because you aren’t giving enough value to talk about.
Leaving With A Signed Listing Agreement
So you’ve been having a delightful conversation with the sellers and you’ve asked all the right questions, understood their exact needs, and provided insightful answers to their inquiries. Now is the time you have to ask for the business, otherwise everything will be for nothing.
Closing the deal requires confidence, clarity, and the right timing. You’ve already built rapport and trust, so this step should feel like a natural progression.
Let’s tune back into the agent and see how he’s going to end the listing appointment.
Agent: Mr. and Mrs. Seller, I am very clear on what your expectations are of me and the urgency of needing to sell within two months. I’ve outlined my strategy to market your home, which includes professional staging, a 3D virtual tour, and drone footage. We’ve agreed on a list price that will be competitive with other listings in the neighborhood.
My time to shine is when an offer comes in and I’ll be relentless at getting you every extra thousand I can, and my goal is to ensure you’re always informed of the process and protected. If you’re ready, I’d like to move forward and start the listing process today. Shall we review the listing agreement?
Seller: Okay, let’s do it!
Looks like this agent came prepared, asked all the right questions, and earned the seller’s trust. Now it’s your turn!
One final note about the listing conversation.
You will need ample practice to come across as natural and confident. Find another agent in your office and spend plenty of time role-playing and covering various scenarios and objections. You must feel comfortable taking charge of the conversation and asking intentional questions.
If you have a coach or a mentor, they can help you refine the process so that it becomes second nature. Deliberate practice is the key to your success.
With the right preparation and diligence, you will get that listing!
Reinforcing the Importance of Door Knocking
As we wrap up, let’s circle back to where we started: door knocking for leads.
Remember, the foundation of getting a listing within 14 days hinges on consistent, proactive outreach. Door knocking is still one of the most effective methods for generating leads and meeting potential clients face-to-face.
Here’s a quick recap of the key steps:
- Understand that rejection is part of the process. Equip yourself with knowledge about the neighborhood and practice good communication skills.
- Aim to talk to 50 people each day or until you get 3 leads. Track your progress diligently.
- Use the conversations to build trust and gather information. Ask good questions and listen actively.
- Keep track of your leads and follow up consistently. Build relationships over time.
- Practice the listing conversation every day and get better.
Door knocking is not just about the immediate results but about building a pipeline of future opportunities. Every conversation is a chance to refine your skills and expand your network.
By combining the strategies of door knocking with a strong, well-prepared listing conversation, you are on your way to building a thriving listing-focused real estate business that will lay the foundations for farming the area with flyers and becoming the neighborhood expert. Make sure to check back for my future guide on farming!