Presenting a CMA report is like a marriage proposal. Just because you have a ring, doesn’t mean the work is done and you’re magically engaged. Similarly, just because you have a great CMA, doesn’t mean you’ll automatically get the listing. There’s a certain amount of care and finesse that must go into the act. Just like proposing, there are many ways to present a CMA. But which method is sure to set you apart from other agents?
In W+R Studios’ 2020 Survey of Best Practices for CMAs and Listing Presentations, we found that 72% of agents said they deliver a CMA on the day of the listing presentation. That’s a huge opportunity for you as a real estate agent to stand out from the majority of your peers. But what does that look like? Well, there’s a real estate guru who knows exactly how to capitalize on this opportunity: Sharran Srivatsaa.
Sharran is the CEO of Kingston Lane. He is an entrepreneur, sought after keynote speaker, and a respected thought-leadership resource for publications such as the Wall Street Journal, SUCCESS magazine, Huffington Post, and Forbes. Sharran postulates that some agents just show up the day of a listing presentation with no forethought, present a marketing plan, and speak in numbers for 45 minutes expecting to create a feeling of safety and trust. The reality is, that client is probably interviewing several other agents and won’t even remember your name if you don’t do anything to go the extra mile. So here is what he suggests:
Twenty-four hours prior to the listing presentation, drop off an envelope containing 3 things: the title property profile, the CMA report, and your bio. On the outside of the envelope write, “Please do not open until our meeting tomorrow.” Then text the client and say something to the effect of, “Hi, just dropped something off at your doorstep. Looking forward to discussing with you tomorrow.” This act does several things:
- It reaffirms the appointment.
- It creates a talking point for the meeting.
- It cultivates a curiosity and excitement before the meeting has even started.
Once you are at the meeting, ask the client if they have opened the envelope. Obviously, there are two outcomes here, but it’s a win-win for you either way. If they say no, then you reply, “We’re going to get along great because it’s my job to bring you an offer that you want, at a price that you want, at the terms that you want. Let’s open the packet so we can go through this plan together.” Conversely, if they say yes, then you reply “We’re going to get along great because it’s my job to bring you an offer that you want, at a price that you want, at the terms that you want. This process is completely transparent and I have nothing to hide so now that you’ve opened it, let’s look through the contents and let me walk you through it.”
So you can see by just delivering the CMA twenty-four hours prior to your appointment, there’s a playful and interesting dynamic that creates trust with you and the client, which is paramount. It doesn’t matter whether they actually read the report or not. What matters is your approach. You took the time to spark a curiosity and interest in your client prior to the meeting, which demonstrates dedication and passion for your work. It’s evident that this will brand you as a maverick agent versus an agent that simply follows norms and goes through the motions of real estate business.
In summation, it’s not just about the report. It’s about how and when you present it to your clients. You can have an elaborate CMA report with all the bells and whistles and present it on the day of the meeting, hoping to get a signed listing agreement. But 72% of your peers are doing it this way. Why not go the road less traveled and spark joy and curiosity in your clients before your meeting even starts?
Be sure to register for Sharran Srivatsaa’s newest e-Webinar, 7 Secrets to Winning a Virtual Listing Presentation, for more of his insights and tips!