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The Economy is Killing Me

Sure it is, but when the going gets tough, the tough get back to basics.

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Here is a baker's dozen list to get you going in the right direction.

While conducting a S.M.A.R.T. training session two years ago, a sad faced man stopped by the front of the room and said, "You just can't sell real estate in this economy."

I told the man he should be positive, to which he replied. "I'm positive you can't sell real estate in this economy."

I'm afraid there are lots of people with this same opinion, and that's a pity. Henry Ford told us years ago, "Whether you believe you can do a thing or not, you are right."

  1. You may not be able to change the nation's economy, but you can change your own economy. It is a matter of positive mental attitude.

  2. Develop a logical mental attitude. Logical steps give you a road map that you can follow over and over again. It also gives you the basis to use, adapt, and create your own tools to overcome client objections.

  3. Build an inventory of homes to sell. The amount of money you make in real estate is in direct proportion to the number of listings you own. Maximize your listing presentation skills and you could do nothing else and still generate a great income. I believe in this fact so much so, that 80 percent of my teachings focus on how to get the listing.

  4. Make the telephone your friend. Get comfortable with it. Agents lose more business over the telephone than by any other means. You can use the telephone to generate referrals, communicate with FSBOs, follow up with clients & prospects, and get buyers to come into the office. Without practicing the right skills you stand to lose much of your potential business.

  5. Learn to "Sell." Selling, when used correctly, is a tool that leads, not pushes and it benefits your clients. Take a look at callfloyd.com. It's a five minute video designed to show you the moral side of proper selling technique. (You may need to right click and choose "Save As" to play)

  6. Ask Questions. They get results and it shows your client you are concerned. It also keeps you in control of the conversation. When you do speak ask only "wopen" questions. That's nothing more than an open question that begins with the letter "W" -- who, what, where, when and why. If you are confused between positive control and con tactics, watch the video in #5.

  7. Showmanship. If you aren't excited about your own product, no one else will be either. We use the word enthusIASM to keep our energy high. IASM stands for I Am Sold Myself. When you are excited about the process you get your clients excited about the process. It is not just what you say but how you say it that is important.

  8. Leverage floor time to increase your sales. Many agents hate floor time. It's a waste or a bother. Turn lemons into lemonade my friends and use this opportunity to practice your telephone skills. Use that positive and logical mental attitude you have mastered to get callers into your office. Get them to act and you are one step closer to a commission.

  9. Convert buyers into sellers. I'm referring to buyer prospects that have yet to sell their current home. Show them the logic of why they should sell first. It takes longer to sell a home than it does to buy a home and it is in their best interest price wise as well. In class, we call this an objection handling technique. Start making your list.

  10. Be persistent. Always ask for what you want three times; there is magic in threes. If you plan to stop when you hear the first no, you may as well not even try. Understand you're not being pushy, people generally use the word no as a stalling technique. They just want to more information or more time to think it over, that's all. Asking three times, no more and no less, gives your prospect time to consider your request fully while not being perceived as pushy.

  11. Dream and set goals that will inspire you and motivate you to move forward. Write down the top 3 to 5 goals that a successful real estate career will help you achieve. Every morning when you get up and every night just before sleep, read this list and visualize yourself having already achieved them. This simple exercise will give you all the energy and focus you need to make your real estate career a success.

  12. Be yourself. You can't be anyone else nearly as well as you can be yourself. When clients see you pretend to be someone else they have trouble believing anything you say. Be yourself and you will remain more at ease in every situation.

  13. Make a commitment. Put it on paper. When you do you give it value and you make it real. The old saying applies, "Fail to plan and you plan to fail."

Use this list; own this list. Print it out, keep it handy. You'll be successful, I'm sure of it! All you have to do is get back to the basics.

Published: September 1, 2006

Use of this article without permission is a violation of federal copyright laws.


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