More Conversation, Less Presentation

April 1, 2008 |

In my last episode of Real Estate in Black and White, I introduced the idea of the “listing conversation.” This would be different from what every real estate professional currently knows as the “listing presentation.”

The listing presentation is part of the core competency of every REALTOR. Well, I guess that’s not completely true, there are those who work exclusively for buyers. If you are one of those people, then just insert the word, “buyer” for the words “listing,” and “seller.” The same concepts still apply.

What We Know About Listing Presentations, and Why It’s a Problem

Very early on in our real estate careers, we are either taught explicitly, or we learn through example, to “get the listing.” Typically, this means that a potential seller contacts us about listing the home. We go over to the person’s home, CMA (or BPO or whatever you want to call it) in hand, and we “present” to the seller the reasons why they should list the home with us. There are a million variations to this dog and pony show, but all of them have as their focus the same end game– getting the listing.

The problem with that is that it ignores the fundamental reason why the seller called us in the first place– the seller wants our help.

Huh? What? I thought that the seller wanted to sell the house. True– sort of.

The seller might want to sell the house, the seller might just want you to come in and offer your price opinion so that they can go and list with their friend or sell it as a FSBO. Heck, there are dozens of reasons why the seller might have called you, but they all boil done to one simple thing– the seller wants our help.

We Can Help Ourselves by Helping Our Clients

I hear REALTORS complain (I’ve done it myself), about being duped by a potential seller who, after a listing presentation and a hollow promise, went out and listed the home with a friend or relative, or did a FSBO. The reality is that we blame the seller because it is easier than putting the blame where it squarely belongs– on ourselves.

The reason why we are so easily fooled, and the reason that sellers know we can be easily fooled, is that the people know that REALTORS have a tendency to be quite self-absorbed. That comes as a byproduct of a life and work-style in which we are Kings and Queens of our own castles. How often have you been told– “You are your brand. You are selling yourself.” We tend to focus on ourselves A LOT.

That’s okay, sometimes. There are times, however, when our attention should be turned outward. Interaction with clients is one of those times, and interaction with potential clients is most certainly one of those times.

How to Solve the Listing Presentation Problem

The problem with the listing presentation, is that it is all about the agent, not about the seller. The whole idea of a presentation is that it is one person telling another person information. There is little or no dialogue, there isn’t even any thought given to dialogue. We get so wrapped up in presentation and “getting the listing” that we forget that the seller invited us. The seller asked us to be there. Don’t we owe it to ourselves, and especially to the seller, to find out why? How are we ever going to achieve anyone’s goals, or meet anyone’s needs, without knowing what they are?

In order to determine what the seller’s objective is, we need to engage in a meaningful conversation, not just our standard presentation. Ask questions, don’t just spew answers. Above all– listen.

There are a few strategies and techniques you can implement to move from the listing presentation to the listing conversation. I’ll share these in another post. For now, I want you to consider the change in philosophy that is require to make it possible. That philosophy comes down to three easy to remember points.

1) I’m not here to “get” a listing. I am here to help.

2) Listen and ask. Don’t just tell.

3) More conversation, less presentation.

Remember those 3 things, and you will be well on your way to having more meaningful interactions with your clients and customers.

Posted by Daniel Rothamel | Filed Under Blog, Buying, Helpful Hints, Industry Issues, Selling 

Comments

3 Responses to “More Conversation, Less Presentation”

  1. ines on April 1st, 2008 10:20 pm

    I really think it’s all about listening - if Realtors would shut up a little and hear what their clients have to say, the industry would be so much better off. I like the “Listing Conversation” concept a lot!

    [Reply]

  2. Kara Thomas on April 2nd, 2008 6:09 am

    Thank you for putting this in writing! I have been hounded to refine, practice and now with the ’shifting market’ –revamp my listing presentation. It seems I’m always being told to add more. All along I have held steadfast to the “I don’t do a listing presentation…I just talk to my clients.” I come armed with information and answer their questions. There are a few things I do highlight, but my listing presentation focuses on building the relationship, not selling myself.

    [Reply]

  3. Want to Know What Someone Means? Ask! | The Real Estate Zebra on April 30th, 2008 3:16 am

    [...] may remember when I introduced the concept of the Listing Conversation, as opposed to the traditional Listing Presentation. I hope that you have been conscientious about [...]

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