Turning an appraisal meeting into a listing is critical, but not always easy. After talking with a few agents who were willing to share their secrets, here are some tips for helping you win more business.
Understand the client’s motive
For an appraisal to be successful, it is important you determine the owner’s plans right from the beginning.
They may be looking for nothing more than a general market appraisal, but they may also have plans to sell down the road.
It is a mistake to treat these two scenarios the same way. They are different mindsets, so it doesn’t make sense to go with the same presentation.
Two important questions to ask the owner are: “why?” and “how?”
More specifically, “why do you need me?” and “how can I get you to where you want to be?”
Once you figure this out, you will be able to move forward with a much better idea as to what the client is looking for, making you both happier down the road.
Information, Information, Information
Before going to the appraisal meeting, send the client information about yourself and your previously successful listings.
People don’t want to trust their most valuable assets or properties to a rookie; they want someone with a proven track record who has a history of getting the job done.
It might also be a good idea to send a sample agency agreement and some information on potential marketing campaigns so that they can have an idea as to what they are getting into.
If you don’t give this information upfront, you risk the client trying to answer questions themselves, which could lead to frustration and ultimately choosing another agent.
Make use of your resources
Going into an appraisal, you want the client to know you are comfortable and familiar with the market in which you will be selling. As such, knowing as much about what and where you are selling is critical.
There are several resources out there, such as the Pricefinder app, that give you loads of information about properties. You can use it on your phone, meaning you can be studying up even when on the road.
The app also features a new price estimator feature, allowing you to calculate approximate home values, something that will prove rather useful when performing appraisals.
The app also includes school catchment data and developer applications, making it all the more useful.
Under-promise and over-deliver, not the other way around.
While it might seem like a good idea to wow your client with an exciting valuation, you’re only hurting yourself when you do this.
With so much information available these days, it’s a lot easier for buyers to know when a property has been overvalued, which will turn them away and hurt your chances at delivering for a client.
Later on, when this truth reveals itself, the real damage will be your reputation, as people will associate you with less-than-honest practices.
This doesn’t mean you should shy away from properties you think will do well, but rather to just not overdo it.
Try to find a middle ground. Be honest with the client, letting them know you think their property can do well, but also set a more realistic number. Managing expectations is half the game.
Pragmatism can’t hurt you, especially when your reputation is on the line.
Step into the client’s shoes
Selling a property may be business for you, but for someone else, it is a momentous occasion in their lives.
Walking into a property and looking past the subtler aspects of the house can sometimes offend clients. It’s their home after all.
Do what you can to connect with them so that they can see that you care about the home enough to get them the best deal for it.
This is something you can be doing during the appraisal, which will help you build a relationship with the person.
By stepping into their shoes, you are more likely to find some common ground with the client, which will help the business relationship as you move forward.
It’s important not to be arrogant, but don’t be afraid to sell yourself.
You can showcase your past sales, or if you’re not there yet, discuss some of the past successes of the agency you work for. Be specific, showing clients some actual examples where you did exceedingly well.
Do your best to make them believe in you so that they’ll believe you’re the best agent for the job.