Most sellers are very price conscious and are good comparison shoppers, their perception of what is a good deal based solely on familiarity, experience and/or hearsay. So, what does a seller expect from a real estate agent, based on their limited exposure? Very little. And it is your job to show them just how crucial your individual expertise is.
Sellers, like most consumers, will pay more for something they perceive is a better quality or value. You, as an Agent, deserve every cent of your commission because you're different and you're better. Sellers must be aware of and appreciate the importance of your service. It's time to highlight your own qualifications at your next listing presentation, to differentiate yourself from the competition. For starters, show the seller that the process is not as simple as they may think, detailing your added value as both their consultant and project manager. Begin by reviewing your current listing presentation to identify all the items that are likely covered by your competition, and explain what exactly it is that you do in each transaction. Here you will impress the seller by being thorough and instilling trust.
You will likely change a seller's misgiving that all agents are the same. The competitive edge is now yours because your seller understands the sales process in its entirety by your having accentuated the critical tasks you carry out from start to finish. It's easy to underestimate the amount of time you'll put into an average transaction, so be sure to take the time to break down all aspects of a sale. Only when this is outlined in a step-by-step linear manner will the seller understand the process and its nuances. Your worry-free service from top to bottom is worth the commission you ask, and the seller will recognize this.
Give yourself credit for being involved in each phase of a transaction and your talents as a consultant, facilitator, monitor and problem solver. After all, it's a pretty sure bet that you will end up in excess of 100 hours per transaction.
1) Prepare for the listing presentation
2) The listing presentation
3) Customized marketing plan
4) Implementation of the marketing plan and initial feedback
5) Buyer screening and interviews
6) Showing appointments
7) Getting and presenting offers
8) Negotiations
9) Agreement and into formal contract
10) Satisfaction of contract contingencies
11) Appraisal, structural/engineering inspections
12) Mortgage approval process
13) Closing/settlement date established
14) Final walk-through inspection and at last
15) The closing/settlement.
Yes, your competition may be doing all of the above but are they truly establishing these tasks as an agent's true service and value that should take place in every real estate transaction? Probably not, because most agents' listing presentations revolve around marketing/advertising and it's a known fact that there is much more to a listing than just those two items.
Is your job almost done the minute you find a potential buyer? Absolutely not! But it may seem so to your uninformed seller. With the exception of handling the paperwork, the seller may think that your next function is to collect your commission check. You know that's not true because getting it all together, keeping it all together and running everything smoothly all the way to closing/settlement places a huge demand on your time, your knowledge, and your skill set. Furthermore, your ability to counsel the seller and guide them in pricing as well as the rest of the transaction will truly show what a Real Estate professional does for a living.