I've noticed a common practice among the top performers in the country, and it's what I like to call an "Easy Exit Listing Guarantee."
The question for you is, do you have one, and are you effectively marketing it? And what exactly is an Easy Exit Listing Guarantee?
It's pretty straightforward: It means that if a seller feels you're not meeting their expectations, if they're unsatisfied with your service or marketing, they can exit the listing and hire another REALTOR.
Now, there are a couple of conditions to consider.
First, they need to give you a 48-hour window to address the issue. Some may prefer 24 hours or 72 hours, but there should be a timeline for addressing any perceived problems.
Second, they can't exit the listing if it's pending or close to closing.
Those are the two key caveats.
So when you're in a listing appointment, you can say, "I want my clients to feel completely satisfied with my service, so I offer an...
I want to help you become the go-to expert in your market.
You should aim to be seen as the trusted authority that people turn to with their real estate questions. To achieve this, you need to consistently share information and content about the real estate market.
Let me share an example of a script I recently created for our agents in our coaching program. This script focuses on national market statistics that you might find valuable:
First, let's talk about inflation. You may have heard that inflation has recently risen to 3.7%. One common question I receive is, "How does this affect the real estate market?"
Well, the most significant impact has been on mortgage rates. Mortgage rates have climbed to the mid-sevens, almost hitting 8%. This has caused some potential buyers to hesitate. However, there is some good news:
Surprisingly, we are still selling approximately 91% of the number of homes we sold...
During a crisis, my go-to strategy is digging for details. The more I ask questions and dive in, the better the chances of finding a resolution for all parties involved.
It's about reaching a middle ground, not a perfect solution where everyone feels like a winner. Conflict requires compromise.
So, how do I dig for details? Let me share five or six strategies for engaging in productive conversations.
1. I encourage people to open up to me.
I ask them to elaborate on what's happening and why they feel the way they do. I want to draw out their thoughts and emotions. Sometimes, my goal is to help them release their emotional tension. By talking it out, they become more amenable to reaching a resolution.
2. I clarify by asking for more context.
When things are unclear, I dig deeper. I rephrase questions if necessary. Lawyers excel at this skill.
3. The third approach is normalizing.
I let them know they're not...
In a study of 10,000 sales calls, two different scripts were tested to set appointments with sales professionals.
I'll share those scripts with you, and I want you to think about which one you believe was more effective.
Script one: "I'd love to talk to you about a game-changing idea I just came across."
Script two: "I'd love to get your opinion on something."
Now, which script do you think had a higher success rate? Well, script two, where we asked for their opinion, outperformed the other script by a staggering 700%.
People love giving their opinion. It's irresistible. We see it on social media all the time. So when we use this language in our sales approach, it engages and opens up the conversation.
Try incorporating it when selling homes, talking to buyers, or engaging with sellers.
For example, ask Mr. and Mrs. Buyer, "I've found a few homes that could be a good fit. Can you tell me your opinion? Which...
I want to discuss how to follow up with a seller effectively. Having a reliable follow-up process is essential to getting the seller to sell their house for the highest possible price.
Many agents don't have a set follow-up plan, so I encourage you to adopt a consistent and rigid one. This means that you are consistent in delivering your follow-up to the seller. It all starts with a conversation where you set the seller's expectations when you first take the listing. You say, "Hey, Mr. and Mrs. Seller, I'm super excited to be your listing agent and start working with you. We're going to get your home sold."
One of the things I like to do is to have a weekly follow-up call, and I will provide a complete update on what's happening. This includes virtual showings, physical showings, feedback from agents, the seller's peer group, and any new listings that hit the market. I will also send you a physical report every week.
I have a great idea for my fellow real estate agents out there.
It's called the Buyer's Eyes Strategy. Here's how it works:
When I have a client selling their house, I treat them as if they are a buyer in the market for a home in their price range. I put them in the MLS as if they are a real buyer, and they start receiving emails with new listings, price changes, and updates on pending or sold houses. This helps them stay informed, in real time, without having to wait for me to tell them what's going on.
I also get CC'd on the same emails, so I'm seeing what they're seeing. This allows us to have a productive conversation and make any necessary adjustments or changes to their selling strategy.
They start receiving these emails right away, and they'll get updates every day or every couple of days. This way, they become really familiar with the market and can make informed decisions about their own...
Use this script to have the "Red Flags" conversation with sellers before you list their house, so they value you as an agent (and don't shift the blame onto you):
"As your real estate agent, I want to discuss a crucial conversation with you, Mr. and Mrs. Seller. When we list your house, one of two things can happen. Either A) we have showings, which means the market is accepting our price. People are viewing the property, and this indicates they believe the price is fair.
Or B) we have very few or no showings, it could be an indication that the price is too high. If that's the case, I'll come to you immediately, and we'll have to make a quick adjustment. We don't want to be one of those listings that sit on the market without any action.
But there's also something else that can happen, a second red flag, other than price: We can have a lot of showings, but no one pulls the trigger and makes an...
I have a concept called "anchor point pricing."
Here's what it means:
During a conversation about price with a seller, I bring up the neighbor down the road who listed their property but didn't really want to sell it. They overpriced their house and have been chasing the market down with four price reductions in the last 90 days. Their home has become stigmatized and people think there's something wrong with it, no matter how low they price it.
I never want that to be the case for my clients, and you shouldn't either.
In this market, first impressions are critical:
The longer a property is on the market, the less it gets.
That's why we use anchor point pricing. Every time potential buyers drive by the overpriced neighbor's listing, they're reminded that they don't want to end up like that person. This conversation can be powerful when someone is on the fence about overpricing their property.
Want more secrets like this that...
Hey guys, when we're talking to a seller and we're having this conversation about price—because price is the ultimate marketing tool that we have—sometimes it's hard for sellers to understand the relationship between the price and interest rates.
So I wanna give you some scripting and some dialogues along these lines, which is really important. And it's focusing on the difference in affordability for buyers and really how most buyers are payment focused.
So if I'm sitting with a seller, I might say:
"Now you've probably been hearing that the interest rates have been rising. But I wanna relate that to what that means to a buyer for your home. So the beginning of the year, interest rates were pretty much at 60-year lows or around 3% level. And since the beginning of the year, we've really more than doubled. We're now pushing 7% and we're probably gonna be over 7% very soon.
And so here's what...
Hey guys, I've got another tool for you:
When you are going out to take a listing and the seller is asking you about getting top dollar for their home, one question you can ask which relates to them getting top dollar is, can I ask you how much do you owe on your current home?
This is gonna reveal how much equity they have and how much they have left to pay off.
Some—about 30% of the people you're talking to—will own their home outright. And the vast majority will have some kind of loan. But a lot of those people have paid down their loans dramatically and they have a very small balance. What if you said something like this to them?
"I got something to ask you guys based on what you just told me:
We're in a high interest rate environment. So it's making affordability a really big issue. And because of that, when people are paying more in interest, they can't afford to pay at a higher price. But if we were able to offer an...