With our Transform Masters program concluded, we revisit some of the great questions the participants had for head coach Claudio Encina.
Q. What is considered a good conversion rate from appraisals to listings? And what are the three best things to focus on? – Ashleigh Goodchild, Soco Realty
Awesome question! Generating leads is easy, but all the money is made in the conversion – the lead follow-up and priming the client before the listing appointment by delivering an effective presentation.
Firstly, be sure to understand the quality of the lead; some people think a market appraisal is a seller, but I consider the listing appointment more qualified as you will discuss commission, marketing and price. A market appraisal may just be a price check.
The conversion from a listing appointment to a listing should be somewhere over 70 per cent. Review your conversion in the last 12 months in your business. To achieve a 70 per cent conversion rate or more at the listing appointment you should know the common five or six questions every seller will ask when you show up – the old adage Proper Preparation Prevents Poor Performance.
To improve conversion rates, are you providing the best experience a consumer has ever had? How can you create an amazing experience for your client? Consider the whole process, from when you take the initial phone call and thank them by text immediately afterwards, to your pre-list information kit.
The truth is that today you are competing to provide the best experience a consumer has ever had.
Finally, video record your listing presentation and observe how you are coming across to people. Is your message right? Are you on point? Are there any um’s and er’s with irritating speech habits or are you comfortable pausing? Make the necessary changes to get more yeses and win the listing.