In the Zone | V III i 1 | Sabotaging Sales? Take the quiz...
In the Zone | Focusing on the 4 Profit Pillars of Real Estate
Volume III Issue 1
1. What Successful REALTORS(R) Are Saying
2. Motivational Quote of the Month
3. Prospecting: Growing Your Network - Three Easy Primers to Start
Conversations at Seminars and Conferences
4. Negotiating: How to Avoid Confrontational Negotiations
5. Listing: 15 Tips to Turn Presentations into Listings
6. Selling: Selling Suicide - Are you sabotaging your sales?
Take the quiz to find out.
Hey,
Pretend it's pop quiz time and the person asking you the questions is your broker:
"Last year you had fifteen listing presentations and landed only three. Out of twenty-four buyer representations, you helped only twelve find suitable homes. How would you rate your level of success?"
You respond, "Frustrating. I know I can do better."
She then asks, "How can we improve your numbers?"
You respond, "I don't know. I just can't figure out why I'm losing so many sales."
Many intelligent real estate agents at some point in their careers experience a year like this--whether it's their first or thirtieth--and they just can't figure out why. If you ever find yourself in this position, take this advice:
record your presentations and start listening to yourself. You might not like what you hear.
In this month's Selling article, discover the four most common mistakes agents make that are tantamount to killing a sale. Then take an online quiz to analyze your own selling skills and see where you might be sabotaging the sale.
Also, does the thought of conflict force you to approach negotiations weak-kneed--or avoid them altogether? Relax. This timeless, but often forgotten, formula dispels the negotiation bugaboo.
And while you're at it, read our rapid-fire list of tips that will help turn more presentations into listings and discover three conversation-starters that will make the growth of your network fluid and brisk.
Enjoy and here's to your success,
Gary Elwood
Proquest Technologies
1-800-959-3959
Send prospecting, negotiating, listing or selling ideas, strategies and tips to inthezone@proquest-tech.com.
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1. What Successful REALTORS(r) Are Saying
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"Proquest is awesome!
"I've run two classified ads in the local paper and put out three yard signs with my 800 number and extensions on them.
In just two weeks I've had to upgrade my cell phone plan because I ran out of minutes.
"The experience has sort of stunned me.
"To date: 131 notifications; of those approximately 25 made direct contact; resulting in one contract and 14 qualified buyers. I haven't even attempted following up the notifications. Too overwhelming to think about what may happen.
"I'm grateful that I'll be on vacation for the next two weeks that I might regroup, consult with Proquest and come back ready for all the action."
Bill Halford
Lake Worth, FL
If you are ready to take the leap to the next level in your career, then read our 21-page online report "How to Close More Transactions in a Month Than You Now Close All Year":
http://www.realestategrowth.com/how_to_grow.asp
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2. Motivational Quote of the Month
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"Tomorrow you could die. Maximize every minute."
Anonymous
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3. PROSPECTING: Growing Your Network - Three Easy Primers to
Start Conversations at Seminars and Conferences
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Admit it: meeting new people can be hard. But rest assured, when it comes to networking at conferences or seminars, you have one thing on your side: everyone else in the room is looking to do the exact same thing.
With that in mind, you really don't need to do anything spectacular to get people's attention. All you need to do is find a topic or two that will get the conversation started.
Here are a three primers from Brian Hilliard and James Palmer of Agito Consulting to get you started:
1. "Gorgeous day today, huh? Did you get a chance to go out and enjoy it a little?"
This isn't the flashiest starter, but you'd be surprised at how effective it is. This is perfect for when you are standing in line at a registration table or in a lunch line.
2. "Boy, I heard traffic was killer getting down here. Were you able to make it over all right?"
Remember, don't get too fancy here, because all you are trying to do is get the ball rolling. Whether the person got stuck in traffic or not doesn't matter. You got the conversation started and that is what's important.
3. "So, have you had a chance to hear [speaker's name] speak before? I understand she's a real expert on [topic]."
This works best if you have actually heard the speaker before.
If not, don't worry. You can explain that you haven't heard her before either, but are looking forward to her insights on this particular subject.
If you keep in mind that everyone is looking to meet new people and that there isn't such a thing as a "bad conversation starter," then becoming a networking pro is easier than you thought.
Next Month: Three Easy Questions That Will Make You Stand Head and Shoulders Above the Crowd in Any Networking Situations
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4. NEGOTIATING: How to Avoid Confrontational Negotiations
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Try this: ask someone you know--spouse, friend, office mate-- to place their hands out, palms up. Put your hands, palms down on top of theirs. Then, gently push down. What happens, they push up! People shove when you shove them...
Similarly, when you present someone with a position on which they disagree, they automatically argue. If this happens, don't argue back. Instead, use the Feel, Felt, Found formula.
Here's how it works.
For example, your client says the seventh offer on their house is still too low (although only by a percentage point or two).
You, however, are confident it is reasonable, and you know that it may become difficult to move the home as winter approaches, pushing back their dreams to move into a new home.
Respond with, "I understand exactly how you feel about the offer. I think a lot of people would feel exactly the same way as you do when they first hear an offer they think is too low. However, after we take a closer look at the type of market we are in, you might find that the offer is probably more reasonable than you originally thought."
You are at a listing presentation and the seller says, "I just don't feel comfortable using someone who doesn't have that much experience."
Say, "I understand exactly how you feel about that. Believe me, so did a number of other sellers who have become my clients. But once they discovered not only could I sell their home faster and for more money, they were interested in knowing how I would do that. Let me explain how I can do that for you."
A seller says, "I hear that your company has trouble selling a lot of it's properties."
You could say, "I understand how you might have heard that because I heard it too. I think the rumor started a few years ago when we were changing brokers, but now many high-profile sellers, both commercial and residential, trust us with their properties, and we haven't had any problems since."
One great thing about the Feel, Felt, Found formula is that it gives you time to think. If a prospect says something that shocks you and you don't know what to say, start the FFF formula and by the time you get there, you will have thought of the appropriate thing to say.
Next Month: Concessions - 3 Ways to Set the Psychological Mood of Negotiations in Your Favor
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5. LISTING: 15 Tips to Turn Presentations into Listings
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1. Always confirm the appointment.
2. Be sure your materials are ready.
3. Take a paper back-up of your presentation if you use a
laptop.
4. Get good directions and arrive a few minutes early.
5. Break the ice with chitchat.
6. Compliment the home during the tour.
7. Qualify sellers to be sure they are motivated to sell.
8. Create a basic flyer with the property's photo before the
listing.
9. Mirror the sellers' demeanor to put them at ease.
10. Ask open-ended questions to get more information.
11. Listen carefully to responses and adapt your presentation
accordingly.
12. Watch body language to assess responses.
13. Avoid real estate jargon.
14. Pause to give an opportunity for questions.
15. Ask for the listing.
Bonus Tip:
If you haven't already, read this time-tested listing presentation endorsed by elite real estate trainer Bob Corcoran of Corcoran Consulting. Read it carefully and in only minutes you will learn how to close your next
19 out of 20 listing presentations:
http://www.realestatemarketingsecrets.com/listing_pres.htm
Next Month: 5 Indispensable Reasons Sellers Need You
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6. SELLING: Selling Suicide: Are you sabotaging your sales?
Take the quiz and find out.
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Many young, inexperienced reps who are fearful of rejection, as well as older and experienced pros who get burned out or are too comfortable, tend to commit selling suicide.
Here are four of the most common suicidal situations:
1. Death by Perfection: Pretending the house has no flaws.
This kills credibility. Don't hide negatives. Great
salespeople use them as selling points.
2. Death by Doubt: Lack of confidence in the house, marketing
approach or self. Sounding wishy-washy. Saying to the seller
"If this marketing strategy doesn't work, well, we'll just
try something else." Confidence sells.
3. Death by Information: Giving information in the wrong order.
For instance, the counter offer before you build value. Or,
giving too much information, too many choices.
4. Death by Secret: Not telling or selling the whole story.
Giving a fragmented presentation. Always give a full
presentation.
To discover if you are pushing away your own success, take this online quiz at Noah St. John's website, author of "Permission to Succeed": www.successclinic.com/quiz.html
Next month: Stress-Free Selling
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Proquest Technologies, Inc.
inthezone@proquest-tech.com
1-800-959-3959
In the Zone: Focusing on the 4 Profit Pillars of Real Estate
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