The Key to Stellar Seller Client Servicing

I promise you, this is so far from anything that you've ever been to. And now. All right, so let's get into seller client servicing. Hey, Damon, you there?

I'm here.

All right, so Damon and I had a call recently, and I think it was something of the. The gist of the call was, you know, yeah, but our market is. Is tough. We're carrying a lot of inventory and they're not selling. And, you know, once you get inventory, you just put it through the process. Weekly calls, 30 day market reviews. And I challenged Damon, I said, I sort of bet you're not keeping up. You're not pushing your clients hard enough into what the reality is in the market. So you're not even giving your clients a chance to, to have their home sells because you're not challenging them with good data and to let them know what it is, what it's taking to get home sold. Damon, share the experience that your listing partners got once you challenge them in this area.

Well, we sat down, we actually did our meeting like we're supposed to and went through our inventory and everything. And I just gave them a list of stuff that I wanted reduced, which was probably half of the listings. We had 69, 68 listings at the time. I said I wanted half of them reduced that week. We probably reduced 20 of them. And substantial discounts or price adjustments, anywhere from five to $25,000. Price adjustments. We sold 10 in eight days.

Yeah. Awesome. That's it. And that's it. One thing I forgot. Damon, for whatever reason, wasn't having like a set like his listing partner is required to meet on Tuesday mornings at 9am from 9am to 10am and to go through listing appointments from the prior week and all of the active listings and come up with a plan for how those listings are going to sell. So the one. So Damon was more focused on securing listings, but a little bit less focused on just having a weekly rhythm around how these listings are actually going to sell. So, I mean, it's, it's. And that's why I wanted to do this call. Whether or not you have five or 10 listings or if you have, you know, 100 plus listings, having a systematic approach to working through this stuff is the only way to take someone that you, you're making a promise to the seller that you're going to do your best to sell their home. And then when you list their home and the showings don't happen, you don't even want to make those phone calls. I get it. I've been to Closings six months after I met with somebody and I didn't know which side of the closing table was mine of sellers. So I know I've had people cancel their listings with me or listings expire and I've made one or two phone calls to them in six months. So I know how not to do this. I know the, you know, the way not to service a client. And the only way to systematically convert a listing, an active listing into a closed listing is just to work them. Anything else to share, Damon?

No. I mean, I guess the biggest thing is, you know, we were in a habit of a while of collecting listings, I guess, and we were trying to keep 100 listings on inventory. And that really isn't the goal. The goal is to turn them. Now we're trying to concentrate on turning them every 60, 70 days, which our market average sales time on market is a relist. It's about seven months. We're trying to concentrate on getting them sold in 60 to 70 days. And it takes work, it takes pushing people out of their comfort zone because everybody wants more than the house is worth.

Yeah. Awesome. Alright, cool man, thanks. Alright, so. So bottom, bottom line is it doesn't. I had a coach tell me once before, it was Todd Walters who told me sky has sold like 5,000 homes or something. Told me that if the seller has a motivation, is motivated to sell, right? So they have a big enough Y to sell, you take that listing at any price. So don't fight with them too hard if they have a real reason to move because you can be open and honest and not mislead them in the pricing strategy process, but you don't want another person to list that home. And by happenstance, they get it reduced to the right price. So you don't want to fight them too hard in the beginning. And that's why that listing addendum and the listing inventory balance sheet. Let me pull up the listing addendum here real quick. This is a must use for everyone in this group. You're filling this out for every listing. And the most important part here is the pricing strategy agreement.