YOUR EBOOK TITLE THE NEW CMA: COMPETITIVE NOT COMPARATIVE
Now that we’ve arrived at a good market price and positioned our listing to win, we now have to help our customers and clients understand our mindset and thinking so they can accept the pricing advice. We do this by showing each of the graphs we used earlier and walking them through the same process we used. We start wide and zoom in to arrive to the understanding of how these different pieces interplay and work together, and why you’re recommending this positioning range. What that means is we are not going to be teaching. We’re going to be a guide. We’re going to be the leader of the discussion but we’re going to let the customers actually tell us the price in the end. In order to do that successfully what we recommend are a couple of key things when it comes to presenting. STEP 4.1: Convey the Information to Your Sellers STEP 4.2: Convey the Information to Potential Buyers LOREM IPSUM STEP 4: PRESENT THE COMPETITIVE MARKET ANALYSIS Presentation Key #1: Asking questions to let sellers be part of the process. Asking questions is a great way to involve your customers in the competitive positioning process, and it helps them go through the step-by-step sequence. Start by showing them the details of their home that you collected, then ask simply, “Is everything correct here? Is there anything I missed in this summary that may be different that you updated?” Then tell them about the FHFA and how it’s made, but before showing it ask, “Would you like to see that now?” Then we’ll use questions to transition between graphs, keeping us moving through the process. For example, “We may know that the city has grown by this much, however would you like to know what this means or what that appreciation effect has had on your area on your neighborhood? As you know not every home that goes on the market sells, would you like to know what your odds of selling are?” Then we’ll say, “Many people see this, and they say ‘I have good odds but I want to know is how long this should take and when is the best time to list?’ Well the data shows us that answer. Would you like to see that now?” Moving into the Scattergram we ask, “Are you willing to sell your property at fair market value?” This usually gets the response of, “What’s fair market value?” “Well let’s start answering that question by looking at the Scattergram .” Then, we’ll ask questions that allow the data to be the star and your customers to discover the answer. “Draw a line from 3500 square feet, which is the size of your house, to the market value trendline. Where does the graph say your house should sell?” Then we’ll explain the concept of competitive range and the idea of the buyer zone and ask, “Would you like to see what your competition is like?” At the end of showing them the positioning we now ask the all-important questions. “So, knowing that the data shows we should price between $750,000 and $770,000, where would you like to list your house?” Presentation Key #2: Deferring to the data. One thing you’ll notice in the asking questions key above is that a lot of the scripted questions ask about what the graph or the data shows. This is intentional. All you are doing is presenting data so together you can work toward a correct price. The more you rely on the data and the more you really show your customers that you’re not just making this stuff up, this is real information, the more they will know like and trust you. This is a moment where you can really connect and really be real. Ask questions and let the data answer.
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