Credibility through Testimonials

Posted by David Bennett Wed, 07 Jun 2006 15:34:00 GMT

How to Build Your Credibility Through Testimonials
 
by Joeann Fossland, GRI, LTG, Master Certified Coach
 
Testimonials are one of the best ways for you to communicate your value to your prospects. A third party endorsement always carries more weight than you tooting your own horn. I find many agents pass up opportunities to build their testimonial pool.
Here are some suggestions to leverage your results:
  • Listen for the testimonial. When someone says something in praise of your efforts, ask immediately if you can use their wording. Say something like,"I’d love to be able to quote you. We like to let others know how committed we are to delivering superior service." Set up a file for these comments.
  • If you are with them and they say yes, just jot down what they said and ask them to sign it. Marilyn Urso, of Long Island Village Realty in Syosset, NY uses the time at settlement when the copies are being made to ask for a testimonial. She builds her advertising campaign around these endorsements.
  • If they praise you in a phone conversation, send them off an email confirming what they said asking their permission for you to use it as a testimonial.
  • In your pre-list package, include some testimonials matched demographically or psychographically to the prospect you are wooing.
  • Create a book with all your testimonials in it. Take this on your listing appointments.
  • Post testimonials all over your website. It would be fine to have one on every page relating to the topic of that page.
  • Use pictures. Gary Scott with John Hall and Associates in Phoenix tells me he calls them picturemonials! Put the client in the picture!
  • Even better, use audio! Record what they say. If you are carrying your laptop or tablet computer with you, take advantage of the built in microphone and let them say it themselves. This can be posted in a wav file to your website or sent in an email!
According to the 2005 Home Buyer and Seller Profile from NAR, relationships account for 71% of seller choice of an agent and 55% of buyer’s choice! You’ll find you build trust by using the experiences of real, live people and it will be easier to build relationship with the new prospect. Make it easy for people to know what you do well and why they should work with you! Plus, doesn’t it just feel good having people say nice things about you?
 
 
About the Author: Joeann Fossland GRI, LTG, Master Certified Coach is a dynamic speaker and business coach. Creator of THE REAL ESTATE GAME?, her coaching solutions enhance your effectiveness and life balance. You can subscribe to her free monthly newsletter, attend free monthly telephone seminars, and find out about classes delivered by email and personal coaching by visiting joeann.com. To learn more about having Joeann speak at your next event, please visit www.BrokerAgentSpeakers.com.
 
 
 

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Explain why you are worth your commission

Posted by David Bennett Sat, 17 Jun 2006 16:50:00 GMT

Create Value In The Eyes Of Your Consumers:
 
Most home buyers and sellers throughout the country believe that real estate agents and brokers do little to earn their commissions. This is our fault because we should be educating them about how hard we work before ever accepting them as clients or customers.
 
Keeping my commission firm was a problem until 1983 when I started tracking of all the different duties required to earn my commissions. Then, I developed four separate lists of over 100 activities I do to close transactions for sellers, buyers, expired listings and FSBO’s. This literally astounds clients because most have no idea how complicated a real estate transaction really is.
My list for sellers runs 120 items and makes it clear that it takes a lot more than just putting a sign on the lawn and an ad in the paper to sell a house. It includes such activities as:
 
  • Order and review a property profile.
  • Develop a targeted marketing campaign that maximizes your home’s value.
  • Tour your property from the "buyer’s standpoint."
  • Develop "just listed" postcards.
  • Reduce your liability by providing appropriate disclosure forms.
  • Implement marketing activities.
  • Respond to buyer questions about the property.
  • Screen-out unqualified buyers.
  • Negotiate on your behalf with agents and potential buyers.
  • 111 other activities to get your house sold.
 
My list of value-building activities to help buyers purchase the home of their dreams is even longer because it’s more complicated than selling. This list includes:
 
  • Explain the benefits of a Buyer-Broker Agreement to you.
  • Provide a list of loan brokers who can get you qualified for a loan.
  • Explain all the steps in the home buying process.
  • Save you time by helping to narrow your search parameters.
  • Locate appropriate properties for you to view.
  • Act as a "sounding board" in your decision-making process.
  • Write an offer which meets your needs and protects your interests.
  • Negotiate on your behalf with listing agents and sellers.
  • Obtaining the inspections you want and need for your home.
  • 116 other activities to help you own the home of your dreams.
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My FSBO list shows owners the many things agents do that would be difficult for them to do themselves. My list for owners whose listings have expired shows them how to get their home sold faster and at a higher price.
 
When you create your own list, if a seller or buyer asks for a discount, simply show them the appropriate list and say, "Here are just some of the activities I must complete to earn my money. Why don’t you point out the things that you’d be willing to do instead of me. If you save me time then we can talk about saving you money because I earn every penny I get."
 
When confronted with a list that runs nearly ten pages long their eyes glaze over and they usually respond with something like, "You’re the real estate professional I expect you to do this work!" To which I simply say, "If you want me to do all of these activities on your behalf then you need to pay me what I’m worth. If you want to pay less, I’ll see if I can find someone who will do less and maybe they can save you some money."

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