Apples and oranges. Building rapport, trust and respect with someone you'd like to inspire to hire you is quite different from explaining a legal document. However, since you asked, no, I don't read it to them. I go thru each provision and explain it in layman's terms and how it applies (or doesn't apply) to our transaction.

Reading or explaining the contract to them delivers the same end result. The point is...you just do not EXPECT the client to sign a legal document without explaining what it means.
The listing contract is also a legal contract. Explaining/reading what you are going to do in return for their signiture is exactly what is needed to separate yourself from the competition that thinks it's just OK to smooze them and this will gain their trust. Do you really feel the seller is this naive? This is exactly how I beat many agents who have become the clients friend. I find it amazing many on this thread attacked me and the Mike Ferry System because they couldn't read between the lines and assume they know everything. The PLAN of ACTION is the customer service. I provide AMAZING CUSTOMER SERVICE and I explain it to the customer in exchange for the signiture and I provide it in writing so I am accountable.

Now, what will build more trust and take less TIME? Someone who has a specific Plan of Action to get your home sold or someone who simply smoozes you? I beat the smoozers ALL THE TIME unless they prostitute themselves by cutting commission etc. I do it over and over again because I have to. Almost everyone who has a drivers liscense has a real estate liscence as well.If your market is not this competitive, imagine if you had, read and explained the Plan and got good at it. Imagine how much time and how many more listings you would take?

Jennifer...you mentioned you did not have as much spare time as I had when you were selling 50 odd homes a year. I am not sure what took you so much time to sell 50 homes but I do know I have been in the business 24 years, I have done the smoozing techinques and I observe the majority of agents who do only that. There is nothing novel there. It's what most agents do. It is very TIME CONSUMING and is one of the major causes of the 2-3 hour listing presentations that exist out there.

LOL- I SO don't schmooze. I'm the world's worst schmoozer in fact! One of my biggest clients referred me to a friend with the words "She's not the friendliest person in the world, but she gets the job done." But I know that's how a lot of people see a sphere of influence business model as simply schmoozing your friends. Doesn't work that way, but that's a topic for a different venue.

But there is a big difference between using the schmooze factor to build rapport and actually caring enough about the prospect to EARN their trust.

And you appear to be deliberately misinterpreting what I said about building rapport versus explaining contracts. I do not walk into a seller's home and immediately sit them down to go over the listing contract line by line. I mean, c'mon. Once we get to that point, then, yes, we are discussing contracts and therefore, the conversation will change somewhat from our earlier conversations where we are mutually interviewing each other to see if we're a good fit to work together.

I have a plan of action to get my listings sold; in fact, I've written a book on it and do a 3-hour live CE-approved presentation on the topic. But my plan of action is not the same for every client; thus the necessity of talking WITH them (not to them) as we're analyzing their homeselling situation.

I do not read anything to them. I carry a conversation, NONE OF WHICH IS SCRIPTED. No, I don't ever say the same thing twice in a presentation. If you know your stuff, and are comfortable holding a conversation, no script is needed.

When going through the listing agreement or contracts with them, I EXPLAIN it to them. I don't READ it. Most sellers that I deal with have seen them before, and I know them well enough to explain them in my own words. I hit the high points and offer them the opportunity to read them if they would like.

I don't get paid for my ability to read aloud. I get paid for people's ability to trust me. And if you have an actual conversation with them, they learn to trust you (if you are trustworthy).

People who don't trust me don't get to be my clients.


***and I don't schmooze either. Jennifer and I would compete for the title of World's Worst. I am a to-the-point, get-it-done kind of girl. I carry on a conversation with the seller that is relevant to them, about real estate mostly, and through that I manage to convey my knowledge and ideology on my job.

Definition of Schmoozing (online free dictionary) " To converse casually, especially to gain an advantage or make a social connection. An informal conversation, the use of speech for informal exchange of views or ideas or information etc."

Some of the highest paid people in the world are scripted and make much more than Real Estate Agents....using scripts is nothing to be closed minded to. Being scripted is something worth aspiring to the way I see it.

ie;
Athletes
Doctors
Lawyers
Pilots
Professional Corporate Salepeople
Actors

As a matter of fact the above would be not be successful and actually fired if they simply winged it like Real Estate Agents do.

I once heard someone say...."If you are not calling your past clients, someone else is!"

Today I called the homeowner of a house where I was the listing agent 2 years ago and another agent sold it to them. The lady was impressed I had called her proving to her I work the area. She's now in my lead bank as they need a bigger house this year for sure.

I could be wrong but I think this is the longest topic in AOL history...:)
My listing presentation is utra short.....my part I do in minutes...I spend the rest of the time building rapport....I am probably a bit more outgoing and friendly than Jennifer....but as her clients say...she gets the job done. I dont think Jennifer is unfriendly ...far from...just all business

It is not the listings that we take that are so important, as one would assume a competent person would do their best to provide service and get the job done. A great presentation needs to become even greater to get the ones that get away. Would it not be great to go on 100 listing presentations and take 100 saleable listings. This is what I strive for however unreasonable it may seem.

went on 2 and took 1. bah!

i should have qualified better. i am 95% sure the one that got away from me today will either choose to stay put based on my price or list with me.

i go on to many appointments. i need to week them out and make them on tue and thurs instead of the way i do it now. anyhoo, later everyone.

i wanted to contribute the "we beat Froy" postcount thread:-)

I do that especially for new buyers/sellers for the year (rather im the listing agent or the selling agent). I remind them that they may need a copy of their HUD-1 statement for tax reasons. Everyone always seems to loose it. I then drop it off to them since I will "be in the area". Nobody has ever been mad about the interuption and 80% say come on over (the others know where their docs are at).

I had a selling agent call me and she was furious "HOW DARE YOU CONTACT MY CLIENT AND MAKE ME LOOK BAD". She assured me it was against the law and she was filing a complaint against me. It never went any where though. I can call anybodies past client.

Just sold another kisting I took in November from cold calling. This was a toughee! Seller was verbally abusing me that her home was not sold and demanded a cancellation. I remained calm, continued to service the listing and sold that sucker!

Current income:$169,500 closed and pending.

I JUST HAD AN EPIPHANY.

After some frustration and pondering on the realization that even though I have made some changes/improvements to my business it feels as though nothing has really improved production wise. I feel as though I am on the same track production wise as last year. After hearing the saying, "we have to find the link between our activities and our goals." I realized this morning, for me to do 20 more deals I must go on 40 more listing appointments for the year since I take approx 50% of the appointments I go on. Yes, I also want to improve this ratio but it's not happening right now so I must be conscious and focused on my appointments and my listings taken on a monthly basis. Since I track these, it is pretty easy for me. For example; in Jan & Feb of 2009 I went on 5 listing appointments each and took 2 listings each month. Therefore I must stay focused monthly on how many appointment I went on for a specific month of the previous year and strive/goal set to make certain I go on 4 more appointments than the corresponding month for 2009.

lucky,

i have found that i personally need to qualify my appointments better through my prelisting package and prelisting questions before i go on the appointment. i too go on a lot of appointments and dont get all taht i go on. for me, i dont know if i can get more of my appts to sighn with me, but i could disqualify more and give myself more qualified appointments. that is something that i am working on right now.

Hi Jim; if you mean qualifying for motivation, rest assured I am doing that. I only go on MOTVATED appointments where sellers must sell. Almost all my appointments are interviewing agents, they do list and they do sell. So if you mean qualifying something else please fill me in. I am interested to inprove my ratios as you know. When I posted earlier that I need 4 more appointments per month compared to last year, I mean MUST SELL appointments. I can accomplish this with better, more volumous, more aggressive lead follow-up. Let me know what you think.

Lucky- This represents a change in tactic though. In the beginning you were working a numbers game, anybody that would talk to you talked to.

Qualify the client determines their motivation to sell but also builds a raport with the client. You may not get the listing but you started building a relationship, and will pick it up on the expired listing side.

Your system seems to work. To me it sounds like you have no personality though, you are a robot. That comes out when you talk to clients. Nothing wrong with that though, you just don't have much repeat call backs. I know many LAs that could care less that the client just had a baby, no contact after the sale, its all business.

Lead follow up requires people skills. If you can't nail it on the first swing, you have to leave the consumer at least liking you. I personally like you, respect your business and the way you run it, but I will have to say, I can where alot of people would not. Its not a good thing or a bad thing, its a way to operate.