The marketing report you send to a prospective vendor is usually critical in securing the listing. It reinforces the points you have made in your face-to-face discussion and attests to your competence and expertise. Yet all too often agents send out a highly standardised report full of generic information which actually harms their chance of gaining the listing. In this article I briefly list the essential elements of a good report.
- A personalised covering letter which discusses and answers the particular matters raised during the appraisal. This shows that you have listened and understood and will be a ‘good agent’. It should contain a paragraph on the strength of the market for that property type. It MUST give clear recommendations on (a) price range; (b) suggested pre-sale improvements; (c) method of sale; (d) marketing; and (e) timing.
- A list of directly comparable sales in ascending price order with an approximately equal number above and below the price you expect to obtain for their property. Put in the best examples (not just properties you have sold) with detailed information on each. Six is about the right number. This will help you list the property at the correct price as vendors compare whether their property is better or worse than the examples given.
- A list of all properties of that type sold in the suburb. By ‘all’ I mean ‘all’. This shows that you truly understand the market and are not fudging the figures.
- A marketing budget.
- Examples of your marketing of a similar property including the actual advertisements, brochures etc.
- A time-line showing all the steps from now through to completion. This is often overlooked, but one of the main reasons vendors choose an agent is confidence they can handle the process.
Put the whole package in a nice presentation folder with general information on how wonderful your firm is and personally deliver it to the vendor. Ideally you will make an appointment with the decision maker(s) to sign them up on the spot.
Dr Gil Davis is now a university lecturer, but for twenty-five years he was one of Australia’s most successful real estate agents. He wrote the top-selling book Sell for More, packed full of useful tips for agents, which you can purchase on-line through Harper Collins.
Notes from the editor:
Gathering market insights on a suburb or postcode for prospective clients is made easy using rp.professional. A range of tailored reports accessible from your homepage provide you with the depth of local market knowledge to showcase to your clients.
- Property List Reports
- Suburb Statistics Reports
- On The Market Reports
- Valuation Reports
- Comparative Market Analysis Reports (CMA)
- Rental Comparative Market Analysis Reports (Rental CMA)
- Rental Comparison Reports
- Sales History Reports
- Market Compare Reports
- Auction Results Reports
Your rp.professional homepage also offers quick links to build CMA reports, retrieve Suburb Statics graphs of Median Price and Recent Sales Prices, as well as the weekly clearance rates in each State.
Also remember you have our weekly Property Pulse property articles and Research Blogs which you are welcome to share with your clients and prospects.
For more information on our reports call 1300 734 318 or better yet why not book in classroom or online training with an rpdata specialist, FREE. View schedule here.