← F.I.R.E.D UP with Krista Mashore
F.I.R.E.D UP with Krista Mashore
5 Reasons Why You're Losing Listings, Ep. (937)
00:14:24
Are you losing listings and wondering what you're doing wrong? You're NOT alone — but that doesn't mean you should stay stuck. In this episode, I’m revealing the 5 REAL reasons why sellers are choosing someone else… and how to fix it fast. If...
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Transcript5 lines
- [00:00]
A
If you are losing listings, guess what? You are not alone. So in this video, I'm going to show you the five reasons why you're losing listings and what to do to stop that until it's too late. Number one reason, lack of marketing. Here's the deal. If you want to be a top producer, you need to be a top marketer. If you want to sell your homes for top dollar, you need to learn to be a marketer. If you are losing listings, it's because you don't know how to market homes. You don't know how to go into a listing and not talk about what everybody else is talking about. You see, here's the deal. Most agen go into a listing and they say things like that, like this, Mr. Seller, we are going to do a broker store and you know, blah, blah, blah. And here's what I tell the sellers. Mr. Seller, I know that most agents are recommending that you do a broker store. Do you want to know why they recommend doing a broker store? Well, number one, it's because we would do brokers tours 20 years ago before they had this thing called the Internet. Now that we have the Internet, buyers know more about your home than even you do because they're like little crack monkeys on the toilet searching for homes when they're interested in buying. So when you have a brokerage store, what happens is agents are calling their other realtor friends and they're saying, please come by this, this brokerage tour because I need to show the seller that people actually came by. It does not work, okay? They do it because they want to show you that they're actually working for you. When you learn to be a marketer, you can go into a listing, you can show them how you're marketing, meaning how many hours of watch time, how many engagements you get, how many, how many views you get. Completely outbeats Zillow. Here are a few examples of me showing sellers, right? That my listings beat out Zillow like by tons. Here's some examples of me showing how my properties get hundreds of hours of watch time. Here is my listings showing that I can market a home and get hundreds of thousands of views, hundreds of thousands of impressions. That's what you need to go in and show a seller. And you need to go there and explain to the seller this. Mr. Mrs. Seller, why do you think brands like Google and Coca Cola will spend $7 million just for the 32nd spot during the Super Bowl? It's because they understand the power of marketing. They understand that the more they market, the more people will be interested. It's the same exact thing when you buy a house, Mr. Whistle Seller, when you want to go for pizza, where do you go? You go online. Buyers are exactly the same. In fact, the national association of Realtors stat I believe is around 99% of buyers start their home search online. So it's my fiduciary obligation, Mr. Seller, Mrs. Seller, to get your home exposed to the masses. The more I can expose your home online, the more money I can get you and the better terms that I can get you. You want to be able to show them. This in fact I'm going to do right now. This is now me talking to you as an agent. I'm going to show you a three minute clip of a listing presentation, marketing presentation, I'm sorry, that I send to sellers before I go on the listing. Now I'm only going to show you three minutes of this. Okay? It's around a 15 minute video. I send this to sellers before I even go to the listing appointment. And just by sending this listing video, this marketing video, it ensures that I get the appointment. Oftentimes they cancel the other appointments that they had other appointments. And I ensure that I pretty much get the listing every time. It's answering questions before I get there. It's called winning before you arrive. So take a look. Watch this three minute presentation and I want you to think about a couple of things. What if you were able to actually do that? Learn how to market that way? How would you be able to, number one, get more exposure for yourself, get more exposure for your listings and how you would be able to show this data to a seller. Let's watch. Your home deserves it and your home deserves maximum exposure. We need to expose your home to the thousands, not just the few.
- [03:50]
B
We do this by thinking outside of the box and by using a highly comprehensive digital marketing strategy that we have yet to see any other agents utilize. In our area, we focus on innovation, technology, video and social media. And here's the kicker. And where most agents fail, we use them the right way. Now what do I mean by the right way? Well, according to the national association of realtors, only 16% of agents are using social media. But from my extensive research, we found that less than 1% across the nation are actually using it correctly. Many agents are using the buzz term that they use social media and technology. However, agents who have not been trained in this comprehensive digital marketing strategy are just doing things like posting on their personal page or posting on their business page. But that just is not enough. You see, Facebook is a business and they make their money from people advertising on Facebook. So to properly expose your property, you have to run ad campaigns. This ensures that massive amounts of people actually see your home. Here are just a few examples of what I mean by this. If you look at the number right here, you'll see where it says reach. Well, that's the number of people that are actually seeing this advertisement for this home. Can you imagine the power of having over 132,000 people actually seeing your home online? And here's another example showing 76,000 views. That's a lot, isn't it? We create amazing landing pages of our homes on social media and we use video when doing so. According to Orion, 21 landing pages with video have up to 800% more conversions than the same landing page without a video. Here's another crazy statistic I think you should hear about. According to the National association of Realtors, 67% of buyers are going to walk through a home that they see online. So you can only imagine how important it is that I expose your home to as many prospects buyers online as I can. Because if 67% of people that see your home are likely to walk through it, then it's my fiduciary obligation to make sure that I expose your home to the masses. Also, we can target your specific home to people both locally and out of the area. This is called geographic detailed targeting. We do this not only on Facebook, but also on various other social media platforms. Here's another example of just a few properties that we advertised and you can see the amount of hours that people were watching the videos. That's so much more powerful than just doing an open house, which typically only attracts looky loo buyers and of course your neighbors.
- [06:24]
A
Right? So you get the point, right? Want to be a top producer, be a top marketer, Go into your listing appointments, talking about data and talking about things that no other agent is talking about. Talk about digital marketing, geotargeting, retargeting. Right, Pixeling. Talk about all of that. Also, open houses. Now you're going to tell the seller how great it is to do an open house. Here's the deal. If you're going to do an open house, do it the right way. Way. Okay? You're going to sell your listings. If you're going to do open house, do it the right way. In fact, I've got a video that shows you exactly what to do. How to do an open house on steroids to make sure that you get the most exposure there and how to attract more sellers and more buyers during the listing, during the open house. So watch the next video after this one and you'll be able to watch that video. Bottom line, be a marketer. You'll sell your listings faster, you get your better, your seller better terms, and they will hire you and brag about you. So number two, overpricing the home. I know what you're thinking. Well, Krista, sometimes I have to overprice it because the seller wants way more than the home is worth. Right? Guess what? When you let the seller create the listing price and it's too high, the home is going to end up sitting on the market too long. And then they're eventually going to probably end up hiring somebody else. And what's going to happen? You're going to start getting a bad track record of not selling houses, overpricing listings, and then having them leave and go to somewhere else. And here's the deal. In this kind of market, you don't want to be the first agent if you have a seller that's not going to listen and that's going to overprice and not think that you're the authority and listen to your advice. Number one, you need to get more confident, you need to get stronger, and you need to actually do your job and tell them the truth. That's the first thing. And number two, you'd rather be the second agent or the third agent.
- [08:09]
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Why?
- [08:09]
A
Because the seller is going to finally start to be more realistic about what the price is. And another reason you might be overpricing your listings is because you are not doing a proper comparative market analysis, a cma. You need to make sure that you're doing the right research. You're comparing the right size homes, the right style of homes, the location of the homes correctly, and showing it to the sellers. Here's the deal. Every single seller thinks that their home is worth more. You got the green Barney paint on the, on the wall and you've got old outdated cabinets. And they think their home is worth the home that just got built with millions of upgrades. You need to be able to show them, not tell them. And if they are not realistic, do not take the listing. So go in there with hardcore core evidence that validates, improves your point. Stand firm, don't overprice it, because it's going to hurt you and them in the long run. Number three, lack of communication and quite frankly, lack of answering your phone. Do you know how many agents don't even answer their phone? And they don't call people back. It's absolutely unbelievable. Now the communication starts before you even meet a seller. Okay. You want to send them marketing materials, send them videos on selling, seller tips, buyer tips, right? If you have a listing appointment, you want to make sure that you're calling them the day before. You're sending a personal video text message the day before. You're literally, you know, you're dropping off a marketing packet before you even get there. You want to drop off a marketing packet and then once you get the listing, you need to let them know, Mr. Mrs. Seller, I'm going to be talking to you probably several times a week, but you can expect an email from me every Tuesday and every Friday letting you know exactly what's happened throughout the week. You're going to, during that email, you're going to discuss how many showings there were, all the marketing that you did show them, not tell. Now, even if you've talked to them throughout the week several times, you still want to have a very formal email that goes out or a very formal conversation. In fact, what I used to do was I would have a formal conversation telling them everything that was on the email. Then I would send the email reiterating what was, what the conversation was about. Okay? So the more communication the better. And make sure you start the communication process during the listing. That means you have to be honest about the price. You need to let them tell them what they need to do. Tell them your, you know, your experience, you need to communicate with them, truly what's best for them and not let them tell you how to do your job or how to sell the house. So lack of communication number four, not offering enough value. I go on to Zillow and I go onto these websites and do you know that million plus dollar homes people are using their stinking cell phone to actually take pictures of the house. You need to have professional videography, professional photography. You need to help make sure the house looks like it's best. Here's the deal. It not only helps the seller, it also helps you when somebody sees that you take the time to market your homes appropriately. You're doing drone photography. You know, you've got four page color flyers, you have professional videos, professional photography. That's a reflection of what they can expect if they hire you. Mo if you are just doing pictures with your phone and using your own video camera, it's not enough. You've got to spend money to make more. You should have a marketing budget, add more value to the seller. You are losing listings. It's because you're going up against an agent like me, when I was an agent that shows all the marketing that we do. And now you know what you're thinking. You're saying, well, Krista, I can't afford to do marketing. That's why you can't afford to do marketing, because you're not doing the marketing. Does that make sense? Okay, so I don't care if you have to get a loan, borrow money. When you get a listing, you need to market it to its fullest. It's going to make you look good and it's going to sell the house for more money and more quickly. And number five, inability to adapt to market changes. Here's the thing. I know that every seller still thinks their house is worth what it was three years ago or is going to sell as fast as it did three years ago and get 50 offers and tons of people through it. That is not what's happening in most parts of the country right now. So you need to be able to adapt to what's happening. Communicate by showing, not just telling exactly what's happening in the market. When you show up to the listing appointment, not overpricing the home and going there like the true professional that you are and letting them know what's happening and then show them data of what happens when they overprice their home, what happens when xyz. Right. So you have to adapt to what's happening. Not only you do the seller does. Like let's use an example of interest rates. The high interest rates, as we all know in real estate, has affected the housing market. Homes are staying on the market longer because there's less buyers that can afford the huge increase in prices that we had from the past two to three years and also the high interest rate. So you have to be able to communicate that and adapt to that in your pricing, in your marketing, in your negotiating, in everything. Those five things are what you have to make sure that you don't do as a listing agent. If you want to sell more properties, go back and watch them. Take a checklist and make sure you don't do any of those things or you do do things that we said to do. Okay, hope this was helpful. Do me a favor. If you like this, can you please subscribe? Can you please comment? Because that's the only way that I actually can continue to do these videos. And let me know what else you want in the comments, how I can help you. I will do the videos that you say you need. Hope this was helpful. I'm Krista Mesher when you know what you love, people love what you do. Give us a jingle. And by the way, every single month we have a three day virtual event. You can do it right from your own home. We talk about digital marketing, social media, video, how to get sellers to raise their hand to ask to meet with you and what you do before the appointment to make sure you get the listing. So go to KristenMasher.com/forward/listings that's KristenMasher.comforward/listings and you can sign up for our three day virtual event. All right everyone, I'll see you next time. Have a great day. Hey there. If you want to learn how to dominate your market as a real estate agent, how to sell more listings instead stand out as the go to obvious choice. Sign up for my virtual event. Just go to kristamayshorn.com forward/lesslesslistings do me a favor. This is a three day virtual event. I'm going to teach you how to stand out in your marketplace. Go to kristamayshore.com forward/lessless listings and I will see you there.