Tom Panos 00:00
So, liam, is a specialist list up the way the business works. There is certain people do buyers, certain people are lead generators, and then we’ve got the people that are the closers. They go out and they do listing presentations after listing presentations. And, liam, could I ask you, in a busy week, how many listing presentations do you actually do?
Liam Cromarty 00:26
In a busy week could be upwards of 20, 20 in a week 20 in a week.
Tom Panos 00:31
So your life is. I’m just doing the numbers. In a busy week you could actually do four or five listing presentations in a day, 100%, Yep, okay. So to me there are two reasons why you don’t have every listing in the market real estate gym members. It’s either they didn’t call you in, or they called you in and they gave it to someone else. So today we’re going to focus on once they have called you in.
Liam Cromarty 01:02
And then what’s really important is how you turn up. So when you turn up I never park in a driveway. So don’t park in a driveway, I kind of park a house or two down. I think that’s really important because, like it’s old school, but people really like that, when you get to the property don’t just walk straight in and knock on the door, stand out the front, take some notes, look really interested in the property. So I like that?
Tom Panos 01:27
Jeez, I like that because I’m convinced that many vendors having a look to see what you look like, what’s this?
Liam Cromarty 01:34
guy looking at the window.
Tom Panos 01:35
They’re looking out the window, right they’re fussing it out. I love that. You’re sort of sitting there taking notes. Yeah, yeah, beautiful, whereas the average agent they’re on the phone getting out of the car. They’re late. Talking to someone in La La Land, okay yeah keep going.
Liam Cromarty 01:51
I’ve actually been taking notes. They’ve been walking around. Did you know? There’s over $100,000 worth of hidden value in your home. And they’re going to say well, what do you mean? I’m going to say, well, duct is not standard. That kitchen costs you $30,000. Then you put these floors down that cost you $25,000. So do you think it’s safe to say that when I’m sitting down negotiating with a buyer, I’m at least going to get them up for an extra five or 10 grand, aren’t I? Or 20 or 30?
Tom Panos 02:21
I love that. I love that You’re already showing your home is going to be worth more money with us because we’re looking at the ammunition that we can load the gun up with the buyer 100% Yep and I’ve carried that list.
Liam Cromarty 02:36
I’ve written down that list as I’m walking through the home. So the tour is for building rapport and it’s for identifying the hidden features and value in the property.
Tom Panos 02:45
So you’re doing two reasons. We’re doing a tour to get closer to them, because this is a really soft way of doing it. You’re not sort of staring at each other like there’s an interrogation, you’re doing it in a nice passive way.
Liam Cromarty 02:59
But you’re also getting the hidden value, the invisible value of the home, yep, and you want to do your small test closes too. When you, when you go into the tour, give me an example of a test. Close things list people on their motivation, not on price. So if someone, like every owner, wants more for the property but you sign up a listing based on their motivation, someone might really, really want to sell I have to sell but they want more than what you believe the property is worth. That’s great. I’ll list 100% of those and then my vendor management, I’ll get them sold, no problems. So don’t not list the listing because they want too much list based on motivational price.
Tom Panos 03:43
Yeah, so when I my first job in real estate, there was a real estate agent up the road called Bob. He had a nickname being called Honest Bob. Honest Bob would go out and he would list properties Right After. He’d write the price on the back of a business card and he would always tell them what he thought it would sell for. And he never listed a lot of properties because he just used to give them no hope Right, and people want no hope. And then what he used to do is three weeks later he’d come back in, you know, to the office. The reason I know this is one of my mates used to work there and he used to turn around and say mate can’t believe it. I told him it was worth 200, they gave it to the other agent at 230. Guess what it’s just sold for 200. I was right and his boss used to say you were right, but he’s got. The commission got the sold by Right Exactly, and what it is is. You’re 100% right.
That person that wants a million dollars on a property that’s only worth 900, that’s getting divorced, or has bought elsewhere, or has got a family issue, or needs to be relocated, or has a new baby coming in. They’ve got nothing to do with the price, they’ve got to do with their motivation. Yep, 100%. Always remember it’s not what they want, it’s why they want it. We’re going to send you what Liam has as the pre-questions that he sends out to them. In addition to that team, if you want to improve your listing presentation, in the real estate gym there is a good course called the ultimate listing presentation under courses. When you click on it there, it’s got 15 modules and it’s broken up each component of the listing presentation, marketing, commission, the agenda working out if they’re an immediate seller or future seller, and it is here under courses. The two big use that come up in that part of the conversation is the price and the commission. Yeah, how do you talk about price?
Liam Cromarty 06:02
I talk about price. I learnt two bits of dialogue that I mixed together that really work well for me, and I learnt them from two of their industry heavyweights that always feature on the gym. I prefer to say this every time. I just say look, the good news is we can take the pressure off the conversation today to discuss exactly what your home’s worth to the dollar, because, at the end of the day, that will be decided by the marketing and our negotiation. What we can do, though, is you obviously have a CMA prepared. What we can do, though, is go through a list of some properties that have sold that, I believe, is comparable. What’s more important here is the fact that I’m not a licensed or registered valuer.
Tom Panos 06:47
By the way, everyone please use that content that Liam’s making reference to. You’re talking about the John McGraw approach, correct? Amazing, so, team. I want to repeat that again. Mr and Mrs Vendor, the good news is that’s given you a test ride of the real estate gym. In the real estate gym, we’ve got all the information you need to succeed, whether it’s prospecting, listing, presentations, scripts, dialogues, how to actually have the best templates and have a process driven business. You can join the real estate gym. The doors are open now and it is less than one copy a day as an investment