Sales is a tough job, no doubt about it, especially today in real estate. You hear, read and talk about with others that in the real estate business, it is a numbers game. If you want more results, you have to do more activities, talk with more people, hold more open houses, make more calls, and basically, just do more to get more business. While this is true, it is only partially true.
You need to have quality contacts to truly have an impact on your bottom line. You need to provide value to those you speak with and earn the business or else your bottom line won’t change. You must engage others buy asking about them, their families, their business, etc. and take an interest in them before you talk about you – basic relationship building.
In addition, it is not just enough to say you are in real estate and business is unbelievable, you need to have an “elevator speech” about the services you provide, the information you share, and how you are different than others in the business. If you don’t, why would your business increase? Holding more open houses, knocking on doors, calling more FSBO’s or expired listings won’t get it done – you need to build relationships. You need to add value to those you speak with to earn their trust and in turn, you will get the opportunity to grow your business through referrals.
You need to know what is impacting our business and how that is impacting both buyers and sellers today. Yes, today because the real estate market changes virtually daily. How are property values and why is now a good time to buy and conversely, why it is a good time to sell. How do the low rates effect payments at loan amounts of $250,000, $300,000 or $500,000 and what is the difference if rates go up 1%? What are house values in your neighborhood, your town, and county for all categories of houses – condos, townhouses, and single family homes? How many properties are for sale? What are the month’s supply of houses and what does this mean? Is it a buyer’s or seller’s market? What price ranges are hot, who is buying in those price ranges and why? How is the rental market locally? How are their prices? What is their month’s supply? If you had the answers to these questions, do you believe you would be perceived as an expert by those you encountered and hence, obtain more business?
You have to know the real estate business, the numbers and the trends. Where is the market headed and why? Give your opinion and be able to back it up with facts. Watch videos, read blogs, read newsletters, network with others in our industry and absorb what they are saying and develop your conversation strategy based upon what you have learned to earn more business.
As previously mentioned, you need to increase your activities but you also need to improve the quality of your conversations. You need to become an expert in the business. If you only increase your activities or only gain knowledge and don’t share it with others, you won’t have the same business building results if you do them in concert with each other. Get it? Got it? Good!
Now, go sell something!