Toronto real estate agent and BAM Creator Tom Storey appeared on the Stay Paid podcast with Luke Acree and Josh Stike to answer questions about his listing process, marketing strategy, and navigating commission-related conversations with sellers. 

Today, we’re focusing mainly on the third part of his listing process, which has to do with helping sellers set the best price for their homes. Be sure to watch the full episode for his entire process. 

Coming up on year 10 in real estate, Tom has learned the value of setting the stage for that conversation using a video email that gets his sellers thinking along the same lines. 

Pricing the property

Around the 15-minute mark, Tom was asked to describe his pre-listing process. His third step is to create a video and send it to the seller before the listing appointment—especially when he knows he’s competing with another listing agent.

I find where you spend the most amount of time in a listing presentation is typically pricing the property (and) going over the comparables.

Tom Storey

To set the stage for the pricing conversation, he creates a video going over three comparables in the seller’s area—either listed or sold—and schedules an email with that video to go out the night before the listing appointment. 

The video typically goes something like this:

“Hey, Josh, it’s Tom. I’m looking forward to meeting you tomorrow afternoon. When we meet tomorrow, we’re going to go over what’s on the market and what’s recently sold. But I actually want to show you the three main comparables we’re going to be discussing tomorrow.” 

In the video, Tom goes through the images for those comparables and calls out relevant details that those properties have in common with the seller’s home, as well as significant differences between them. 

Check out number two. That, to me, was very similar to your property, but it only had a one-car garage, and you have a two-car garage. So, check out the price in the top right. We’re going to go more in-depth on this tomorrow, but this is a good starting point. 

That, of course, gets the seller thinking, “Okay! That house sold for $X, and mine could sell for more than that because [reasons]. I need to know more…” 

At the end of the interview, co-host Luke Acree revisited this strategy, making it the action item for the day’s pod. 

I really think there’s something there in sending the video the night before the listing presentation around the comps. Because it is all about the price—that is the #1 objection that people deal with. And he is seeding that objection already. He’s setting himself up in such a phenomenal way, showcasing to them the three comparables that he’s going to actually talk about when he gets to the listing presentation.

Luke Acree

Co-host of the Stay Paid Podcast by ReminderMedia

Watch the full podcast to hear the whole conversation. Keep a notebook handy—and be prepared to take action.