In the Zone | V III i 2 | Create a Presence of Power
In the Zone | Focusing on the 4 Profit Pillars of Real Estate
Volume III Issue 2
1. What Successful REALTORS(R) Are Saying
2. Motivational Quote of the Month
3. Prospecting: Stand Head and Shoulders Above the Crowd in
Any Networking Situation with These 3 Questions
4. Negotiating: Three Mistakes You Should Avoid When Making
Concessions
5. Listing: Five Indispensable Reasons Sellers Need You
6. Selling: Ten Tips to Creating a Presence of Power in
Appointments
Hey,
Recent research at the University of Amsterdam showed that eye
contact had a positive influence on the negotiation process...
and the results.
The research studied negotiations that occurred through
different computer technologies, like web cams, telephones and
broadband lines. The study indicated that those who negotiated
through a broadband system that allowed people to "look
someone in the eyes" had better control of the negotiation
process.
Furthermore, those who made eye contact exchanged more
information with each other, achieved better consensus and
experienced a closer ‘group’ feeling.
With that in mind, this month's Selling article demonstrates
the importance of eye contact in creating a presence of power,
confidence and leadership during appointments and meetings--
qualities people respect, follow and ultimately list with.
Have a seller who isn't fully convinced he needs you to sell
his home? Show him how you can turn a chronic headache into a
virtual holiday with the five reasons he can't live without you
found in this month's Listing article.
Our Prospecting article follows up from last month with three
questions that you can ask anyone you meet at a networking
event that will embed you in their memory.
Lastly, the opening rounds of concessions in negotiating
will determine if you meet your objective or not. Avoid these
three mistakes and success is in your hands.
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
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"Where the heck were you guys when I started in this
business two years ago?
"In the past two years I have spent nearly $10,000 on various
methods, coaching and advertising in an attempt to grow my
business. None of them have worked because...they don't offer
customers something they want or plain don't have an answer
for bringing in leads...."
Yours truly,
Chuck Andersen
Corvallis, OR
If you want to learn more on how Chuck Anderson took the leap
to the next level in his 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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"You are not here merely to make a living. You are here in
order to enable the world to live more amply, with greater
vision, with a finer spirit of hope and achievement. You
are here to enrich the world, and you impoverish yourself
if you forget the errand."
Woodrow Wilson
28th U. S. President
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3. PROSPECTING: Stand Head and Shoulders Above the Crowd in
Any Networking Situation with These 3 Questions
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Networking is less about meeting new people than it is about
getting them to remember you after the fact.
Asking the right questions is an essential step in standing
above the crowd. If that's the case, how do you get someone
to remember you from the other dozen people he met that very
same night?
First, make an instant connection with that person. Just after
you've introduced yourself, say...
"So where else do you normally network?"
After she answers, offer the names of a couple of networking
groups or events and promise to email her if you think of some
more. By providing valuable information she might not have had
before, you've made a deep connection with this person she
isn't likely to forget.
Second, in early in the conversation, ask...
"What do you like best about what you do?"
People enjoy talking about themselves and a question that shows
true interest in their careers will anchor your name deep in
their minds.
Third, during the latter stages of the conversation, ask...
"Oh, I see. What got you started in that direction?"
This will probably generate the longest response. But that's
okay, because it will be a meaningful way to wind down the
conversation. And once again, by showing a true interest in
her career, you'll make your name easy for her to remember
next time she comes across you business card.
Next Month: Parkinson's Law - The Most Important Reason to
Give Up Clients
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4. NEGOTIATING: Three Mistakes You Should Avoid When Making
Concessions
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Here’s a good rule of thumb: If you are going to concede in
the opening rounds of a negotiation, concede small.
But when you do, avoid these three mistakes:
Mistake #1 - Equal-sized concessions
If you have a negotiating room of $10,000, don't give it away
in increments of $2,500.
For example, imagine you are selling your house and your
asking price is $270,000. You receive an offer of $250,000.
If you counter with $267,500 in the first round, $265,000 in
the second, $262,500 in the third, imagine what the other
person is thinking: "Hmm. Every time I push, I get $2,500. Why
stop pushing?"
Mistake #2 - Final concession is huge
Let's say you made a concession of $6,000, then one of $4,000.
You say to the other party, "That's our absolutely lowest
offer. I can't give you a dollar more." The problem is the
other party has a hard time believing you won't relent a dollar
more when you gave up such huge concessions already. He's
going to try for more, and when you dig your heels in, he
thinks, "Why is he being so difficult? You just made a $4,000
concession and you won't give me another $1000?" Making this
mistake has the potential for creating hostility.
Mistake #3 - Never give it all away up front
"Who would do a stupid thing like that?" you ask. People do
it all the time. Someone calls and says, "My client doesn't
like to negotiate. So just give me your lowest price and I'll
give you a yes or no." Or an agent who looked at your client's
house last week calls and says, "We've just located two other
homes my client liked equally well. Now we're just down to the
price. We thought the fairest thing to do would be to let
all three of you give us your lowest price, then we'll decide."
Unless you recognize this ploy, you'll panic and plead with
your sellers to cut the price to the bone, even though the
doors to a second round of bidding haven't completely closed.
Although negotiating this way takes time, conceding in small,
irregular increments makes it more likely that you will end up
with your objective price and both sides of the negotiations
will feel happy about the outcome.
Next Month: How to Use Concessions So the Other Side Feels
Like They're Getting the Best Deal Possible
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5. LISTING: 5 Indispensable Reasons Sellers Need You
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1. Set the price: you know what homes just like theirs
have sold for in the past. You can tell them whether their
home--based on location, features and condition--can fetch more
or less than similar listings. And you know whether the market
is heating up or cooling down.
2. You are objective. You avoid most of the emotional
experiences of selling a home. You can help them stay focused,
provide feedback on changes or repairs and do the negotiating
for them.
3. You have marketing strength. You can promote their home to
the widest audience possible through brochures, ads, web sites,
open houses and the MLS.
4. You can qualify buyers. A salesperson can help determine
whether buyers are serious by getting answers to important
questions about buyers' motivation and purchasing power and
by ensuring the buyers have prequalified for a mortgage.
5. You can finalize the deal. Walk them through the
complicated procedure of selling a home from start to finish.
You can help them avoid delays and costly mistakes.
Next Month: How to Land More Listings in the Hard-to-Please
Sellers Market
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6. SELLING: Ten Tips to Creating a Presence of Power in
Appointments
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Prospects are no different from the rest of us. They like
someone who smiles, who seems calm, collected, cool. Call to
mind the most successful sales pros you know. Don't most
of them seem cheerful and at ease, almost stress-free?
But most importantly, they seem in control. They resonate with
authority, leadership and confidence. Prospects respect this.
Use these ten tips to slow the pace, reduce the stress and
create confidence and optimism in any selling situation:
1. Before the appointment, crystallize the outcome. The person
who has defined in detail what he wants out of the
appointment will control the appointment.
2. As you walk slowly to the door of an appointment, breathe
deeply and imagine how the appointment will end:
shaking the hands of the sellers, the listing in your hands.
3. Shake the hands of your prospects or clients, look them in
the eye and smile.
4. When you speak, articulate your words clearly--and look
people in the eye.
5. Concentrate on holding your head high. Never look at the
ground.
6. Let the person finish speaking before you respond. Nod your
head as they speak and keep eye contact to communicate you
are listening. Wait two or three seconds before you respond.
This demonstrates you are paying attention and are interested
in them.
7. Mirror the way they speak during the initial conversation.
Speak slowly for the tortoises; fast for the hares. Eventually
you will be able to bring the pace to your style,
controlling the conversation.
8. If you find yourself being scolded by a difficult prospect
or client, lower your head--but never lose eye contact. This
communicates both humility and strength. A difficult
prospect will respect that.
9. If prospects or clients are in your office, walk them to the
door and shake their hands as they leave.
10. Finally, to defuse stress during a tense part of a
conversation, point something out to your prospect or
client that you find interesting about them. "Wow. I just
noticed you were wearing a University of Georgia sweatshirt.
Does your son go to school there?" Or, "Is that an
original Thomas Kinkaide?" Also, people will like you for
noticing something specific about them.
Next month: The Most Valuable Four-Word Question You'll Ever
Use
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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
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"In the Zone" is a Proquest Technologies publication.
(C) Copyright 2005, Proquest Technologies.
