In the Zone | vV i8 | Close More Prospecting Appointments w/One Simple Question
In the Zone
Volume V Issue 8
- What Successful REALTORS® Are Saying
- Motivational Quote of the Month
- Prospecting: Very Simple Question Triples the Number of Prospecting Appointments You Close
- Negotiating: The Right Way to Close a Negotiation
- Listing: The Reason Why You Don't Close More Listings
- Selling: The 29-Point Checklist to Closing More Sales
Dear Friend and REALTOR®,
Okay. I have some bad news.
This happens to be our last issue of In The Zone.
Yes, a little abrupt, a little harsh. But...I also have some good news. In fact, I think it's GREAT news. And I think you'll agree that it more than makes up for the death of our monthly In The Zone sessions.
If you haven't already heard, we started a new blog back in early July. A fact I'm very, very stoked about. And in the very first post, I explained why you should read our Real Estate Marketing Blog . Often.
In a nutshell, the post explains that what we were doing every month with In The Zone, we are going to do 3 times per week with The Real Estate Marketing Blog.
So, while In The Zone is going away, it is being reincarnated bigger and better than ever in The Real Estate Marketing Blog.
Having said all that, I thought it appropriate in this last issue to close out the last In The Zone session focusing on the topic of closings.
We have a prospecting article that has you asking yourself a very simple question that could triple the number of appointments you schedule this week and every week to come...
A negotiation article that demonstrates closing and winning negotiations is not just about scoring more debating points. It goes deeper than that...
An eye-opening article on what could be holding you back from turning more appointments into listings. The answer may unsettle you...
And finally, in our selling article a rapid-fire list of secret tips and ideas to get the most important of all real estate activities done...
Closing the deal.
Enjoy!
And here's to wishing you success with our new The Real Estate Marketing Blog!
Gary Elwood
Proquest Technologies
1-800-959-3959
P. S. Be sure to check out our Listing, Buyer, Marketing and Advertising Reports for new articles published weekly. We've published three recently on our Home Buyer Tips pages. Read them today for easy money-making advice.
Any questions about anything you've read about in this newsletter?
Just call 1-800-959-3959 and ask to speak to Ann.
Find past issues of ITZ here:
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1. What Successful REALTORS® Are Saying
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Just a note to thank you for the email tips and resource center. It really helps keeping me focused and "On Track" with my real estate career. You truly Under Promise and Over-Deliver!
Bruce A. Braun | St. Cloud | MN
If you don't already know, see how Provantage can become a key, indispensable ingredient to your success—like it is for Mr. Braun.
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2. Motivational Quote of the Month
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"Sometimes we stare so long at a door that is closing, that we see too late the one that is open."
Alexander Graham Bell
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3. PROSPECTING: Very Simple Question Triples the Number of Prospecting Appointments You Close
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Before you prospect, the obvious questions you want to ask yourself are: When I hang up the telephone what do I want to have accomplished? What agreement do I want from my prospect today?
Getting the appointment , of course, is your ultimate goal. But that comes much later in the process. Don't confuse the two.
Very few sales are accomplished in one phone call. Usually each call has a tiny goal of it's own.
Make your call with that goal in mind. Say enough to accomplish that goal and save everything else for later conversations. Then repeat the process.
However, if you find yourself still walking away from prospecting time feeling like a failure more often than not, then here's something to think about.
Ask for what you want.
The biggest mistake that I see time and time again is that prospectors do not ask for what they want.
Once you know the goal of each conversation, decide exactly how you are going to ask for that goal. Create a script so that you can clearly and succinctly ask for what you want. Your prospect will not read your mind, guess or offer. You must ask.
I have seen clients double and triple their results simply from starting to consistently, in every single phone call, ask for what they want.
Are you going to ask for what you want in your next phone call? Go for it. You have nothing to lose.
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4. NEGOTIATING: The Right Way to Close a Negotiation
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Closing a negotiation can mean two different things. First, it may be a question of how to bring different ideas to a mutually agreed upon conclusion. A second possibility of ‘closing’ is that two negotiating parties can recognzie that a satisfying position for both parties has been reached.
Recognizing that parties have reached agreement can be quite simple.
One can ask the others, “Then, have we reached an agreement?” The parties can shake hands, make a public announcement, or sign a document. The real issue is that each has to make it clear to other negotiators that a mutually agreed upon conclusion has indeed been reached.
Bringing about a closing of an agreement is often the focus of the selling or purchasing process. However, getting parties to buy into a solution can be important in all kinds of negotiations. A negotiator who feels the best approach to reaching an agreement is by bullying may gain in the short-term. However, getting negotiating parties to agree by using collaborative approaches is far more likely to yield long-term success.
Closing a negotiation does not necessarily depend on scoring more debating points. Rather, it reflects a diplomatic process of asking questions and using other respectful processes to find out what other parties think—and then characterizing one’s own suggestions in ways that demonstrate an understanding of what will bring about agreement from others.
To close a deal (reach agreement), one has to ask questions like:
“What makes this or that solution especially attractive to you?”
“Do you think this approach will work?”
“Would you agree we should do it this way?”
Closing is a process of gaining validation and acceptance rather than forcing agreement. Each negotiation may require different ways to accomplish this; the critical factor is that the philosophy that underlies the approach must be built on respect, understanding, and mutuality.
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5. LISTING: Why You Don't Close More Listings
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According to USA Today, as the housing market slows, there will likely be a lot of stories of people who are bailing out of their real estate jobs—and many not by choice.
But in addition to the current pressures of a slowing market, new agents have yet another factor contributing to why their odds of failing are so high. One that is more fundamental. And lasting. Something not taught in license schools.
You already know that getting a real estate license is just the first step of many toward preparing real estate agents for their new career. Other steps include Internet readiness, developing a business plan to follow, learning the ropes with mentors or by reading agent advice, and much more.
But one thing agents aren't prepared for enough is how instrumental they are in their success at sales.
Let me ask you this question: where do sales come from?
Many agents don't give enough weight to this question. Are you one of these agents? If you are destined for success, you already know that you are responsible for generating your own business. You are prepared to get on the phone, knock on doors and tell everyone you know and meet that you are ready to do business with them.
But if you hold one of these three erroneous beliefs, then you are destined for failure:
1. Your broker, family and friends OWE you sales
Many brokers like to boast that they are the most well-known or the largest brokerage in town, or that they are affiliated with the finest franchise. These superlatives are great recruiting points but only if they translate into helping you make more money.
The bottom line is that if you expect your broker to help you get business, expect to pay the broker a hefty referral fee for doing so. Many brokers charge their own agents as much as 30 percent of their commissions for a broker referral.
You can assume, therefore, that a broker will only pass this business along to someone he or she is certain can close the deal.
So don't expect to be handed sales from your broker. The most you can expect is to do "floor time," where you answer the brokers' phones to get business. While this can result in some business, it is certainly more profitable for the broker, who is saving receptionists' costs in exchange for your time.
Family and friends shouldn't be counted upon either. First, the odds that someone in your close circle is buying or selling a home just when you get licensed are not stacked in your favor.
Second, what makes you think they want to bet their money on a rookie? You charge the same commission as an experienced agent, don't you? But you don't have the huge database full of potential buyers or the inside scoop on inspectors, mortgage companies, etc., that a seasoned agent could rattle off in his sleep.
And third, it's likely that your friends and family members already have one or two agents in their circle of friends who they already feel beholden toward. Not to mention the agent who may have garnered their allegiance selling them their current home.
In other words, don't depend on your inner circle to establish your career for you. Instead, focus on establishing a solid career that your family and friends can comfortably turn toward when the need arises.
2. You think you won't have to FARM to get business
Connected to the notion that your broker will bring you business is the idea that all you have to do to get business is to advertise. But here's the catch: advertising is spending money to attract strangers, and strangers are a lot harder to turn into clients than people who know you. While a little advertising is good, especially on the Internet where buyers and sellers look for strangers to do business with, it should not be the only way you rely on getting business.
Farming is just like it sounds: hoeing, planting seeds, watering, nourishing the soil, and spraying for bugs. It's also harvesting and replanting for next year, so it is a continuous process.
Farming in your business means establishing a geographical area to be your area of expertise, knocking on doors and introducing yourself, sponsoring neighborhood interests and events like schools and fund-raisers, and getting your face and name generally known as someone who cares about the area.
Farming can also include concentrating on a group, like an association, networking group, or club.
Farming means going out and asking for the business - telling people you want their business, and convincing them you will do a great job if they give you their business.
3. You think you'll get LUCKY
Many new agents, because they are undercapitalized to go into business for themselves, hedge their bets by keeping their day jobs. This is especially true if they are secretly afraid that they won't be successful.
But you can't serve two masters because one's demands won't be subordinate to the other's. Imagine telling your boss that you can't come to work because you have a listing appointment. Could you tell the listing appointment you can't come when it is convenient for them because you have a second job? Either situation underscores why having two jobs is a sure reason you won't be successful as an agent.
"In my opinion, the biggest reason new agents fall out of real estate is failure to get up and go to work each day," says REALTOR® Mary Leizinger. "Not everyone is cut out to be an entrepreneur and has the self discipline to work seven days a week for a couple of years to learn the business and build a pipeline. Many never cut the cord from other careers and aren't able to make the full-time plus commitment it takes. For many agents, it takes 4-5 years to turn the corner to a good, after-tax income."
So luck is a matter of hard work, and the harder you work, the more your "luck" improves.
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6. SELLING: The 29-Point Checklist to Closing More Sales
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Create More Sales Opportunities
Accentuate the positive, eliminate the negative. Unbridled optimism works. Use it.
Raise customer service standards. Give only the best.
Keep in touch with customers. Communication is a must.
Be outstanding in your field. If canola oil producers can do it, so can you.
Generate more buyer leads. More leads equals more opportunity and competition.
Establish your expertise. Play the authority so your clients are confident in you.
Improve Your Offering
Add more value to what you sell. Find out what it means to go beyond your competitors. Then go beyond that.
Offer items of information for each step of the buying and selling process. This demonstrates you are concerned with your clients understanding the process and feeling good about it.
Persuade Undecided Customers More Effectively
Train your salespeople and team members AND yourself. Don't EXPECT people to train themselves. What you don't inspect loses respect.
Build customer trust. Long-standing integrity is one of the best ways to do this. Make TRUST your brand.
Make it easy for customers to buy. Know what you are doing. Fumbling and stumbling and stalling because you are unorganized is unprofessional.
Empower yourself to solve problems. Give yourself tools and resources to succeed.
Use risk reversal. Offer guarantees that ease the mind. Although a little out there, offering to buy a client's home if it doesn't sell in a year is one way.
Anticipate and prepare for common objections. Master fundamental sales skills. Pick it up if you don't have it.
Attract & Keep Better Customers
Focus on the long term. Long-term thinking requires patience, persistence and pride.
Look beyond your competitors.
Market your self and your service.
As your customers change, you need to change too. Keep up with current trends and market conditions. Change or die.
Create special offers to past customers.
Use crossover promotions with other companies. The water treatment company, the mortgage lender, your house inspector. You name it.
Remember your customers at holiday time.
Create More Efficient Ways to Work with More Customers Faster
Start learning and don’t stop.
Give yourself the gift of time.
Be on time.
Replenish Your Supply of Customers Every Week
Calculate how many new leads, appointments and listings you need every month to succeed.
Write a marketing plan and stick to it. Update what doesn't work.
Create a marketing calendar.
Launch the attack.
Maintain the attack and track its effectiveness. Never give up.
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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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"In the Zone" is a Proquest Technologies publication.
(C) Copyright 2007, Proquest Technologies.
