Monday, March 15, 2010

What I've learned in this business.

Through many years of selling, managing, training, and coaching I have come across truths in the business that cannot be overlooked. This will be a "blog" in progress! Here are a few of them to consider.

1. Your mindset will determine your outcome. You can put in the time, prospect, follow up, go on appts, have a strict schedule...if you don't have the right mindset, you won't have the right business.

2. We get paid for what we know, not necessarily for what we physically do. So if we are paid on our knowledge, how are you increasing that so you can earn more money? We have scripts, stats, dialogues, objection handlers all to make your business more smooth. Are you using them? Practicing them? Most in the business don't and are paid directly in proportion to that.

3. Time Management. Boy what a topic. I've never had a coaching client where this wasn't an issue to discuss. Because of no real "boss" we lack the accountability that is provided in a normal job. We are all responsible for how we spend our day and since we each have the same 24 hours the question does a 100 deal a year producer spend their day? And, how is it different from how you spend your day?

4. To truly operate as a business person, it is essential to know and track your numbers. This ranges from deals closed to how many appts it takes to get a listing. This is only important if you want to predict your business and have control of it. How are you tracking what you do each day?

5. Coaching. It just makes sense that the most productive agents have a coach. The accountability, motivation and continuous education is why they are set apart from the rest. What would be the perfect coach for you?

This is a start to this list. I will continue these ideas over the coming days. Feel free to leave comments or post questions.

Wednesday, March 10, 2010

Closing Skills

Here are some basic thoughts on closing for an appointment or signature in your real estate business.

1. What is Closing? -- Natural Call of Action Closing is helping the prospect! There is danger if they don’t make a decision much of the time. Being a good closer is not about selling ice to Eskimos – it’s a natural part. People don’t normally take action unless we ask them to.
2. Why don’t we close more often? What are we afraid of? Use Quantum Tools on the Website - How are you going to FEEL about them making a bad decision because you didn’t CLOSE! 80% of all sales will happen within 5-7 closes. Can you make a commitment to asking for the close just ONE more time that you normally would have?
3. Do we even know what we are closing FOR? Close for the APPOINTMENT – that’s the 1st step in the process. Don’t be answering questions now. That’s what you do ON the appointment.
4. Ensure the close will go smoothly by pre-qualifying How likely are you to close an unmotivated, unqualified prospect? If we pre-qualify – we are going to avoid rejection by only presenting and closing to motivated, prequalified prospects…
5. Make sure we are confident about what we are doing. There is never any room for assumptions unless we are assuming they are going to do business with us. Must be confident that YES, they want to do business with us… because we are confident about what we are saying? Say your positive affirmations daily. I am a power closer! People want to do business with me!
6. Be Direct. Are you there for a purpose? Have they asked you to their home for a reason? You are there for business. They are expecting you to ask them to do business. If you don’t, what does that say? Whose job is it to make the close, the Agent, or the Seller? Start with indirect and follow up with more direct… the Close.
7. Shut Up. We talk too much, don’t we? When we ask the B/S to take action, we have to be quiet and let them do it. Sometimes we talk too much and talk them OUT of doing something. Ask for the signature and nod your head yes. SMILE. Ask the question, nodding your head, smiling. Wait for them to respond.
8. Use HUMOR to break the tension. When you’re on the phone with a FSBO and they are insisting they are going to do it themselves… brain tumor, are you buying a drill and doing it yourself! Powerful sales people use some humor in your conversations. People get off “edge” so you can move the conversation forward.
9. Believe in your own VALUE. To be a good strong closer, you must believe in the value you bring… as the Value to the customer increases, the close becomes easier. If they don’t see the value, it’s easy to not commit. We must provide the value as a professional salesperson. Exercise: Find 5 good reasons why people should work with you. Put on an index card and bring it out and chant it 5-6 times. You are reminded of the value. Will you commit to doing that this week?
10. If all else fails, tell them you are going to close and why. As a professional salesperson, I want to demonstrate my superior skills to you. That’s why I am going to ask you to sign the contract so you know you are working with the best. This is the same skill I will use when working with a Buyer for your home. So, ___, will you sign the contract?
You are demonstrating a skill that they want you to have. Is that going to set you apart?