Discount agents are a challenge since many sellers are looking to save as much money as possible, but in the end both sides lose. How can you make an offer that is even more compelling than the one of a discount agent? How can you give your prospects the option to pay only for the things they need? And most importantly, what can you do to stand out during the listing presentation? On this episode, Derrick Evens speaks about how to win listings over discount brokers and withstand market shifts.
In reality, it’s never the price that’s the issue with the consumer—it’s the value that we bring, or the perceived value. -Greg McDaniel
Three Things We Learned
How to put together a compelling offer
The reason why discount agents are so successful is because they have a better offer. A good offer has to have something of value and be easy to understand. If you don’t want to lower your commission, you have to explain what can be done with a certain amount of money and what can’t. For example, if the agent gets a smaller commission, there won’t be much money spent on advertising. In order to sell the house, the homeowner will have to lower the price to get some buyers.
Why people think your services are overpriced
Business is simple: people pay for something of value, and if they don’t wanna pay, they don’t find it valuable. Many prospects don’t find certain things you do to sell the house valuable. To get the listing, you have to offer packages tailored to the individual. When people see they have the option to choose from a basic and premium package, they are more likely to buy because they only pay for the things they find valuable.
Focus on their needs by writing everything down
Your listing presentation shouldn’t last longer than 30 seconds. Let the prospects do the talking. One of the most common complaints is that the agent isn’t a good listener. Grab a piece of paper and make them write down what’s important to them and ask them what they want to achieve at the end of the transaction. Then sign it, while promising you will do everything in your power to help them accomplish their goals.
When we try to sell our services, we usually tell the potential client what we do and what we charge for. But what happens when the potential client doesn’t find some of the things on your list valuable? Most likely, you will make someone feel like they are overpaying for services they don’t even need. This is why you should offer a few different packages to target different needs without making them feel like they are overpaying for a service they don’t need anyway.
Derrick Evens has over 17 years of experience in radio and 14 years of experience in real estate. He is the host of List it Live, Digs and the owner of Smarter San Diego Productions. You can connect and find more about Derrick at https://www.linkedin.com/in/mrcredit/