REAL ESTATE B-SCHOOL HIGHLIGHT: How to Manage Listings and Nurture Positive Seller Relationships

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Now we're going to cover seller client servicing and marketing the home. Listing management is systemized for us. All listings, regardless of price point, are given the same level of service. A $100,000 listing has the same photography as our $1 million listings.

Some of you are in high price point markets where you may compete at a different level as far as photography and video go. We have a photographer on staff and we have phenomenal photos - the best in our market.

Listing Management Software

We use Top Producer to manage all of our listings. I have not found a better tool that's out there. If I pull up my Top Producer account, I see we've got almost $24 million of inventory. From as low as $108,000 to as high as $2 million in our inventory.

And our closings right now - I always check this - $544,000 of commission income coming in in the next 45-60 days or so pre-split. $18.3 million pending, which is pretty cool.

I just have not found a better tool than Top Producer. I know everyone is looking for a better tool but that is the tool you should use to manage your listings.

The Importance of Weekly Calls

Weekly calls are a must, even if there's nothing to discuss. I give the analogy of if your doctor has painful news, depending on your relationship up to that point the news has to be delivered, makes a big difference on how that news is received.

That's a great analogy. So if your doctor had great bedside manner, and they really took time in your office visits to communicate and connect with you, if you have a tragic situation, they're going to be able to deliver it in a way where they're going to get you through it, versus you just wanting to curse them out.

Those weekly calls are leading up to the bad news. If their home doesn't sell, the bad news is they need to reduce the price. Those weekly calls are what's going to get you the price reduction. Not you making the call at 60 days and it's the first time they've heard from you.

Critical Email Communication

Weekly seller emails help communicate as well. They do not replace the live calls. Every 30 days, it's critically important that you do a market review. If it's your first one you maybe do it over a screen share when you're on the phone so you can show your screen. You can show showing reports - actual showing reports and number of showings - in their area for their price range.

But they are critical. You cannot skip them. You have copies of our Top Producer Listing Plan and our Seller Weekly Email.