Where Are The Listings Now?
The Floyd Wickman Team blog by Mike Pallin
“I have a bunch of clients who said they would list with me if they could find something to buy.”
Does that have a familiar ring to it? It seems like we’re hearing that more and more lately, and experiencing the frustration that goes along with it. In so many markets today, the only listings that haven’t sold are either distressed and in need of repair, or so ridiculously overpriced that they scare away any potential buyers.
In market conditions like these, where the prevailing emotional tone is one of uncertainty and scarcity, human nature kicks in and people procrastinate. They stay put in a house that is unsuited to their current family circumstances. The house is too big or too small, and they have thought about selling and moving up or down, but they don’t want to risk being homeless.
It seems like it’s not enough to ask your clients to trust you; to reassure them that they will be able to find a house once theirs is sold; that they won’t have to settle for less than they need or want; that they won’t feel pressured and run out of time. “Just trust me,” isn’t enough to overcome fear.
So, what can we do to help our clients who want to move, and who need to move, to make the move?
Let me ask you about your experience. Has one of your clients EVER sold their house and ended up homeless? EVER? Seriously, take a survey if your own personal experience doesn’t convince you that selling first is the answer. Ask every agent you know and work with. Has a client of yours ever ended up with nowhere to go?
Logic says it never happens, not unless somebody horribly and irresponsibly drops the ball, and you never drop the ball. But we need more than logic on our side if we are to persuade all those nervous and jittery clients that they won’t end up out on the street with their sofa and silverware.
You know what happens when Lookers who have a house to sell before they can buy make a commitment to sell first. A psychological and emotional shift takes place. Lookers hardly ever find what they want. But selling first turns a Looker into a Serious Buyer.
And even if a Looker finds the house they want to buy and makes an offer subject to selling, their offer is the least competitive, and the least likely to be accepted. In multiple offer negotiations, offers that are ‘subject to’ don’t stand a chance.
Step One: Comb through your CRM and your Book of Business and look for people you know who are in a house that no longer fits their circumstances. That’s where the listings are now.
Step Two: Go through your past client list and identify all the people who followed your advice and sold first before they tried to buy. Make an appointment to visit with them in person, either at their house or in the office.
Step Three: Ask your past clients to record a video testimonial. Use the Feel-Felt-Found formula. We know how you feel. We felt the same way, and here’s what we found…
It could sound something like this…
“Hi, I’m Bob Smith. My wife Jane and I sold our home and then bought our next home with YOUR NAME.
We were afraid to put our house on the market until we found one first. We understand how you feel. We felt the same way you’re probably feeling now, until YOUR NAME had a heart to heart talk with us and explained a few things.
Here’s what we found. YOUR NAME showed us how to get the best price for our old house, and how to protect us from running out of time finding our next home. Once we saw the facts, it all made sense.
Do yourself a favor, listen to what YOUR NAME has to say and follow their proven process. You’ll be glad you did.
If you want to hear more, call YOUR NAME at the office at 555-1212 and they will put you in touch with us.
Rest assured, you’re in good hands.”
Step Four: Put together a minimum of three testimonial videos, and play them back-to-back-to-back whenever you sit down with a Looker who has to sell before they can buy.
Remember what Floyd says about the use of visuals in persuasion, “A picture is worth a thousand . . . dollars!” Or in this case, a video is worth thousands and thousands and thousands of dollars!