Selling Real Estate is Still Sales!
The principles of selling are always the same. The market combined with the needs of our customers however force real estate professionals to adapt and change our approach and techniques. In this market we need to know how to do short sales, deal with REO’s and have an understanding and a strategy about auctions and forecloses. Advancements in technology also create a need for professional salespeople to rethink how they do things. For example, index cards, sticky pads, check list and a Day-Timer book have given way to contact management applications and auto process that allow the pro to do more with less time commitment. That said the basics of sales are the same. Sales 101 tells me I need to find or create a need and then fill it.
What this means is I need to be totally focused on what the prospect needs and wants, not what I need or want. It amazes me how agents in real estate still feel it is all about me! Does the average Joe out there really know what a GRI, SREs, E-Agent or any of the other fancy designations on our cards and marketing pieces mean? Do customers understand the difference between a REALTOR and an Agent or Consultant and how many No. 1 agents are actually out there? Our customers are all listening to the same radio station and that is WIIFM, or What’s In It For Me. The promotional signs with agent’s pictures and ads about how great an agent is are not for the consumer, they are for the Broker hoping to recruit agents for their office. I sat in a meeting the other day talking about educational opportunities for agents and everyone wanted to offer training and then give this really cool certificate and designation to those who completed it. Why? Because agents like to let everyone know how smart and specialty trained they are. Now don’t get me wrong, I encourage every agent to expand their knowledge and to always seek to learn as much as you can, and when you stop learning you’re just closer to the grave and the end of your career than anything. But I also understand that the customer does not care how much you know until they know how much you care. What are you going to do for the benefit of your customer? How are you going to separate yourself from the pack without having to claim how smart you are or that your number one? What do you bring to the table that will make a difference in the life of your customer? If you have been an agent for over five years 50% of your business should be from referrals and if it’s not your doing something wrong.
Sales is sales and I believe you need to do the basics all the time. Here are some of the things professional sales people should be doing in this market, or any market for that matter.
- Use a contact management system that gives you the tools you need to survive. You’ll need one that will manage your contacts and your email as well as allow you to set up automated process.
- Use a transaction management application. Preferably one that is web based and can give your customers as well as your affiliated partner’s access to the transaction file. Think paperless!
- Have a web presence with a blog. Think about what your customers and prospects need and present it in an easy to use access. Do they have to talk with you and ask for information or can they just click a link and get it.
- Use 800 call captures to provide information to your customers in a quick easy format.
- Have a presence in social networking sites like Face Book and My Space. Have your kids help you out with this one!
- Use online sources for branding, advertising with access to your information like craigslist and Penny Saver USA.
- Read. Readers are leaders. Subscribe to news feeds like Inman News, Realty Times and Broker Agent News. Stay informed, I can tell you this; your prospects and customers are.
- Have a plan of action, write it down and work it. Set up a measuring system as well. The old adage is so true “ what you can measure you can manage”
- Build a contact base. Believe it or not if you’re in sales your first job is lead generation. If you don’t like doing this you need to work at JC Penny’s.
- Have a mentor or a coach if you have been in the business less then five years or you are not where you want to be in life.
These are my ten best suggestions on how to be successful in sales. There is more, lots more but I want to keep this short! In closing please don’t take advice from someone who is more messed up then you! The guy that lives under the freeway can give you plenty of time management advise and we all know broke people that want to tell us how to invest our money. Don’t listen to them. Find someone who is in life were you want to be and listen to them. However, the best thing I can tell you is this; you need to be doing something. Not even God can steer a parked car. Actions create reactions and that is how you learn and get things done. The folks at Nike says it best……Just do it!
Tags: Askterryt, Ideas on selling, Real estate sales, Sales tips, Salesmanship, Selling real estate, Terry, Thomason