8 Tips for Real Estate Sales Success
Tip #1 -- Summer Slumps ... But Some Are Opportunities!
OK, so we're past the spring selling season and most customers are vacation-minded and the news ghouls are still preaching doom, gloom and stagnation.
Simultaneously, hordes of order-takers are mourning the death of easy pickin', when prices went up automatically and deals went down like shooting fish in a barrel.
That's when these "marksmen" contemplate either "riding out the slump" or going back to their "real" jobs. This, however, in case you've never seen it before, is what both old-timers and future superstars recognize as a "Marketer's Market," wherein opportunities lurk behind every apparent stumbling block.
Consider these facts (or refute them, if you can):
1. Signs of revival in the housing market are starting to appear with increasing frequency.
2. Interest rates are still at historic lows, but are dead-certain to start rising in the months ahead.
3. Buyers unwilling to capitalize on their present bargaining edge are often missing the boat.
4. Sellers unwilling to accept the best offer obtainable are frequently doing exactly the same.
5. Real estate professionals have an obligation to sell these facts to the public.
Those who are waiting for "things" to get better are failing to realize that these are more normal times than the boom period of the recent past.
Prospective buyers who really want to become owners should be encouraged to act now, while the choices are abundant, the terms attractive and the competition light. Their "bottom fishing" might pay off in a slightly lower price, but their saving will be meaningless soon after values resume their upward march -- as they most certainly will.
Prospective sellers who really want "out" should be discouraged from ignoring realistic (even if somewhat disappointing) offers. In effect, they are buying their property back at the offered price "on spec," in the hope of selling it at a profit. Also, if they're buying another property, their higher selling price later on will be diluted by the greater cost of their next home.
Bottom line: The present market is your opportunity to locate and pair up motivated buyers and sellers, then market to them the benefits of acting now, while the weather may be hot, but the competition's not.
Tomorrow's winners will be those who do just that today!
Tip #2 -- What Say You?
The losers say,"It I don't try it, I can't possibly fail."
The losers say, "If I don't try it, I can't possibly win!"
Tip #3 -- You Don't Ask? You Don't Sell!
The most important acronym in selling is "ASK," and its message can be taken directly from the New Testament:
Ask and you shall receive;
Seek and ye shall find;
Knock and it shall be opened unto you.
The key word is, of course, ask ...
And those who do so will always be found at the head of the pack and the top of the totem pole.
Business doesn't "come" to people, except by accident, and in small amounts.
Neither do prospects, referrals, publicity, endorsements and/or commitments to buy and sell.
While they may also serve who only stand and wait, they tend to serve at the banquet table of those who ask for what they want and need.
There always was, and always will be, a lot more money in knowing the right questions than in knowing the right answers.
ASK people to do business with you, send business to you, recommend your service to others, publicize your good works and answer your qualifying questions.
Then seek and knock and seek and knock some more....asking all the way!
Tip #4 -- Welcome Back, Doctor!
After a self-assigned hiatus, Dr. Kenneth Edwards has returned to his post as Book Reviewer for The REAL ESTATE PROFESSIONAL, leading off his first column with some generous comments about "The Real World Of Selling Real Estate" and its author.
Said Dr. Ken, in part, "It would be difficult to name a real estate topic that this 411-page opus does not cover.
Of the writer, he wrote, "I'm confident you will agree with me that Joe Klock is clearly one of the most informed and articulate authors we have in the real estate profession. (If you DO agree, there's more info on the book at www.joeklock.com.)
Tip #5 -- Pass the Baton Downward!
"Everything doesn't have to be done as well as you'd be able to do it yourself."
This sound advice comes from Bob Stanley (email@example.com), veteran operating officer and nationally-renowned trainer.
Says he: "If someone whose time can be bought for, say, half as much as your "A" time is worth can do something almost as well as you, you're losing money by doing it yourself.
In all such cases, it makes nothing but sense to delegate that chore downward, to the lowest paid competent help available."
Note: In case the term is unfamiliar to you, your "A" time is the time you spend nose-to-nose, toes-to-toes and eyeball-to-eyeball with prospective buyers and sellers.
Tip #6 -- A Five-Point Road Map for Solving Problems
1. FIND the facts.
2. FILTER the facts.
3. FOCUS on the facts.
4. FACE the facts.
5. ACT on the facts as you see them.
Tip #7 -- Don't Let a 'No' Get You Down!
When a buyer or seller says "NO," they are merely rejecting a suggestion you made or a question you asked - no more.
What they are NOT doing is rejecting you as a person or demeaning you in any way.
They are merely expressing a difference of opinion and they might be dead wrong about it. (If so, and if you give up at this point, both you and they will suffer a setback.)
As to your personal feelings, remember that nobody can ever put you down without first obtaining your consent.
So when you feel you're right, acknowledge and respect that "NO," but regard it as an invitation to continue selling the benefits of what you think is best for the customer.
"NO" is never a dead end as long as they're willing to listen, so don't stop selling until they present you with a totally deaf ear.
It is - and always will be - the way of winners!
Tip #8 -- Beef Up Your Brag Book
Do you get recruiting letters from the competition? (The better you're doing, the more likely that you're a target).
Put those letters to use by adding them to the written endorsements from past customers in your presentation kit.
(Joe Klock is the author of 432-page collection of sales tips, The Real World of Selling Real Estate. World renowned trainer Tom Hopkins says, "The wit and wisdom of Joe Klock is a great tool to lift you up as you face the daily challenges of the wonderful world of real estate sales." )
Negotiating Tip 114: Retreat Negotiations
March 29, 2019
Negotiating Tip 113: Activating Our Opponent
March 28, 2019
Negotiating Tip 112: Misconceptions
March 27, 2019