Don’t just survive…thrive!

Here are some strategies to help you not only survive but thrive in today’s market as shared by RISMedia panel members.

Provide a newsletter that has helpful tips whether you do it or you pay for a service, get a monthly, informative newsletter or market update to send to your sphere of influence.  Don’t let someone else be the buzz in your client’s ear.

Explain the numbers, your knowledge of the market and get the business – you have to educate yourself on market trends so you know what to say so you can differentiate yourself from other Realtors.

How do you answer the question, “how is the market?” – What’s your answer?  Think about this, become an access point for relevant up-to-date information to everyone you encounter.  Don’t just respond – it’s unbelievable or I’ve never been busier or it’s great and I’m never too busy for your referrals.  Provide them with information.

For sellers

Ask questions and listen when you are on listing presentations:

  1. What is it you want to do?
  2. Why is this move happening?
  3. How soon do you want to act?
  4. Who is responsible for making decisions?
  5. What has to happen to make this happen?
  6. What is plan B if the house doesn’t sell?
  7. What is the worst case scenario?
  8. What is the best case scenario?
  9. Tell them, we want to get you the highest, most realistic price.

The market is not reacting to your price so we are now getting closer to your plan b – is this ok with you?

Take professional pictures and use full screen photos on the internet.  Buyers go to the internet first so you have to make the best first impression on line.

Position yourself differently in the market place.  When listing the house you will be merchandising, staging, and pricing the property to sell.

For buyers

When working with buyers, use the housing affordability index to motivate buyers to buy.  Housing affordability is at its highest point since 1979.  If you are working with Millennia’s state, there has never been a better time to buy a home since your parents bought their first home.

Only work with committed people

Don’t do it for the money…Educate the buyer or seller and focus on their goals and the money will follow…

Commit to make a difference in someone else’s life.

Excellent tips to build urgency in buyers:

Remember, it is always about the consumer:

  • Convert wants to needs
  • Lifestyle marketing – appeal to the lifestyle of the buyer you are looking to sell to.
  • Ask “right” questions to learn more about them, their needs and to better serve them.  Schedule a buyer interview to set yourself apart.
  • Younger Consumers want Community – build urgency through the ability to be in their community – bike to work, coffee shops, environmentally friendly buildings, free Wi-Fi, etc.

Know why your people buy.  In a recent survey of home buyers and their Realtors – look how they answered these question of why they bought.  85% of Buyers bought for appreciation.  89% of Agents who sold them their houses said appreciation wasn’t a reason why they bought.  Get to know your buyers and their reasons for buying and the referrals will follow.  Don’t and they won’t.

For you to think about

You set the temperature for your future – don’t be a thermometer and respond to the temperature.

If you are not already on Linkedin – here are some reasons why should be:

Seven Reasons for utilizing Linkedin:

  1. Highest household income of any social site
  2. 45% are household decision makers
  3. Can import/export contacts
  4. Professionals involved in this site, not kids, college students, etc.
  5. Social way of contacting professionals
  6. Target “groups”
  7. It can be automated

Continually ask yourself and assess yourself by asking:

On a scale of 1 – 5, 1 being the lowest and 5 being the highest, how would you rate yourself on the…

  • Use of technology
  • Prospecting
  • Sales skills
  • Negotiations
  • Average sales price

Get with a coach or mentor and work on the areas you need the most improvement.

Important things to keep in mind to grow your business

  • Build Your Skills
  • Shift your mindset
  • Agents cause their own market
  • Show up and use what we provide
  • Hold up a mirror and ask – are you doing all you can?
  • Become intentional about leads

Now that you are armed with a few additional pieces of information, take the time to implement one or two at a time to make yourself a better listing agent, buyer agent or business person.  Get it?  Got it?  Good!

Now, go sell something!

 

 

 

 

 

 

 

How disappointing!

It is disappointing to be ranked so low in the consumer’s mind as to how we handle ourselves relative to others in sales.  What I am referencing is most consumers rank Realtors very close to where they rank new and used car sales people.  In the past month or so I have shopped for a car for myself, helped our company vice president and lastly, my mother.  We have looked on used car lots as well as luxury new car lots.  We explained our situations – my lease ends at the end of October, one car broke down, and one car was totaled – basically, we all had an immediate need.  How many have followed up when we told them exactly what we were looking for in our next vehicle and what our situations were  – um – zero.  How many wanted to sell us something we didn’t want – um – all of them except 2 out of about 20.  How many were obnoxious, overbearing, unprofessional, made us feel uncomfortable and made it difficult for us to leave the lot – um – again, all except 2 out of about 20.  As a result of this experience, I asked myself, “why was this case”.  How can Realtors be compared with sales people who exemplified this behavior?  Do we truly have that many untrained, unprofessional agents in our industry? 

Let’s examine what we had done with our shopping experience and how others in our industry can improve if they exemplify the used car sales approach.  In our journey, we had tried to make their job as easy as possible as I don’t like to be sold.  We had partially qualified ourselves for them by telling why we were there, what we were looking for in the next vehicle, how much we wanted to spend, how soon we needed our cars, and that we had our financing lined up.  So, what was the problem?  First, I don’t believe they have been trained in professional sales.  The biggest problem was, they didn’t listen – they were too concerned about making a sale.  Had we not prequalified ourselves, I don’t believe they could have done it for themselves because they weren’t focused on us – only the sale.  They didn’t ask any follow questions like, what kind of cars we had – what we liked about them – what we were looking for in the next car and why – had we looked anywhere else – what did we find there and what did we like or not like.  They were too busy talking and definitely didn’t ask us any questions to build rapport.   The only way they knew what I did was because I gave them my card to follow up with me.  Guess what?  They still didn’t follow up with me – at all. 

As professionals we know the basics of sales which are:  people buy from those they know, like and trust.  If they are so busy talking about what we don’t want to hear, how can this chain of events happen?  The agendas we followed was not ours but theirs – they wanted the sale.  They believe that they had to speak the whole time to be in control when the fact is, those who ask questions are the ones in control. 

Their technique of closing was so far off it was laughable.  We wouldn’t buy from anyone who subscribes to the ABC theory of sales…Always Be Closing.  Don’t close until you know enough about your client so you can help them make the right decision.  Closing is an evolution not a forced approach to sales.

In order to build trust, demonstrate your knowledge of your business.  Listen, clarify, then respond to clients don’t oversell and force yourself on others.  Dress the part, be polite, and communicate effectively.  These skills will result in sales, I assure you.

So the moral of the story is – if you want to attain more sales as well as referrals you need to differentiate yourself from other sales people.  Start by prequalifying effectively, ask lots of questions and then, listen to the answers – don’t tell.  Don’t sell from an empty wallet you are looking to fill, put their needs/agenda ahead of yours, people can sense this immediately.  Build rapport by learning about them and what their needs are.  Have an effective follow up system in place to show your professionalism.  Act, look, and communicate the role of a professional.  Close at the appropriate time in the process – not continuously – it turns people off.  If you follow these little techniques, you will attain the success you desire.  Let’s elevate ourselves from the lower ranks of sales people!  Get it?  Got it?  Good!

Now, go sell something!