Agents in Action
This is a very common misconception sellers have when listing their home for sale. Time on the market is the #1 enemy for a seller. Historically, we know the longer a home sits on the market for sale, the softer the price becomes. In this episode, I want to share one approach that's worked well for me in these situations. Should you decide to incorporate this into your business or not, the main purpose of discussing this is to be sure you have your go to script, plan... whatever you prefer to call it. Our ability to effectively deliver our responses to common objections such as this can be the...
info_outline Three Lies Robbing Your ProductivityAgents in Action
I am noticing a pattern that keeps showing up lately during conversations I am having with many agents. Since this seems to be so prevalent, I thought we could talk about it today as it’s likely something many of our great agents in action are experiencing. Even though a simple, and even a common topic, it’s one that is (in many cases) costing you $10,000’s and even $100’000’s in lost income opportunity. Ultimately, this shows up in our lives many ways. Sometimes, it’s having more month than money left at the end of each month...day to day lifestyle choices,...
info_outline Four Ways to Boost Confidence When Pricing PropertiesAgents in Action
Four Ways To Boost Confidence When Pricing Property Typically, when preparing for a listing appointment, most agents will leave their pricing research to a desk review over their computer. If you want to outperform your competition and at the same time...dramatically boost your confidence, go the extra mile and consider implementing these steps to maximize your confidence and accuracy. 1. Preview property every 10-14 days to give yourself a stronger knowledge of your local market, and it will give you more confidence in pricing during the listing presentation. The more real estate you...
info_outline Personality Styles 101Agents in Action
Personality Styles 101 - Today we’re going to discuss the D.I.S.C personality styles and how to use this system to have more influence with anyone you are speaking with, resulting in a higher level of communication and ultimately, developing these skills will be an asset to close more business or, increase your overall effectiveness when putting deals together. It’s was something I learned early in my career...probably 20+ years ago now. What’s interesting is I use what I have learned probably on a daily basis, if not several times a week. Knowing first who we are and then, to...
info_outline The Top 5 Ways Money is Leaking Out of Your BusinessAgents in Action
Most Realtor's suffer from the same money leaks in their business and do not even know it. This episode of Agents in Action recap of the most common money leaks or “gaps” I noticed among the agents I have been coaching or met at speaking events this year. It was interesting to me to see these same patterns repeating themselves across the board. It was so consistent, that I wanted to go through these with you so you can take a look at what you’re currently doing in your business. If you can, grab a pen and paper so you can write a few things down as we go through a few...
info_outline Part 2 of 2 - Mastering FSBO Preview AppointmentsAgents in Action
At The Preview Appointment - Objective - Gain access, establish a relationship with & continue to qualify the seller. The Tour: While walking through the property, take notes on the home’s features and benefits. In a casual, yet deliberate manner, ask questions to determine what the situation is with this particular lead. Greeting: Introduce yourself, hand them a business card and thank them for having you over to take a look at the house. (Notice, I say house a lot, not home. Why? Home is emotional, a house is not). Also, assure them you won’t be...
info_outline Part 1 of 2 - The $40,000 For Sale By Owner SystemAgents in Action
A Behind The Scenes Look At The $40,000 For Sale By Owner System. 89 percent of sellers sold with the assistance of a real estate agent, up slightly from 88 percent the last three years, and only 8 percent (down from 9 percent) were FSBO sales. The share is the lowest since this data collection started in 1981. Did not want to pay commission fee: 48% Sold it to a relative / friend / neighbor: 21% Buyers contacted seller directly: 18% Did not want to deal with an agent: 6% Agent was unable to sell home: 5% Seller has real estate license: 1% Could not find agent to handle...
info_outline Managing Your Time in Real EstateAgents in Action
Managing your time in the real estate business. First, this is something people struggle with in general, not just Realtors. However, in the world of real estate sales, it appears to be magnified even more as it’s a commission only business. If you’re being paid hourly or salary and mismanage time, for the most part, it's become accepted. Of course, it’s a contributing factor to the lack of productivity, yet, for the most part, things go forward. As a Realtor, you have a much shorter fuse before you find yourself out of time, money or both. As a...
info_outline Five Statistics Every Realtor Should KnowAgents in Action
How important it is to know your market statistics and position yourself as the goto expert and trusted resource in your marketplace?Fact: I would venture to say 97-98% (or even more) of the Fact: I would venture to say 97-98% (or even more) of the agent's industry-wide DO NOT know the market #s. Have you ever had someone ask you “how’s the market”? What do you say? How effective is your response? What message does it convey about you, your knowledge and professionalism/expertise? Typically, when someone asks this type of question, as a whole, many of us respond in 1 of 100...
info_outline If You Don't Ask, You Don't GetAgents in Action
Whenever we get together for an episode of Agents In Action, I often ask myself “what is it I should share this time?” I have been devouring several books these past few weeks, and one of them jumped out as the obvious answer for this conversation. I realized, without one’s ability to do this effectively...especially someone in sales...it can be a long uphill climb that leads to endless frustration. It’s a great book by Mark Victor Hansen & Jack Canfield called “The Aladdin Factor” The book focuses on a skill that arguably, is the absolute foundation for the...
info_outlineThere are several types of closes. Today, we’re going to focus on 2 of the most common. Mastering the use of these two will allow you to book more appointments and close more sales.
- Trial Close.
- Alternative Close.
Trial Close - What is it?
The trial close is the salesperson's MVT.(most valuable tool) It's like a thermometer or blood pressure cuff – it's a critical diagnostic tool used to assess a situation…or better yet, assess how our prospect feels about the product or service we are selling. A Trial Close is a 'closing technique' to test or determine whether our prospect or client is ready to make a buying decision. Trial closes are questions designed to get the customer in the habit of saying yes before you ask your final closing question. What happens most of the time is we do all the talking and leave them out of the conversation, not knowing what’s on their minds, not getting any diagnostics to work with and then all of a sudden ask for them to make a decision - Allow them to go through a decision or buying process in their minds - while leading them to yes!
How should I use it?
Use it during your presentation or after you have made a strong selling point. I found using it during a listing or buyer presentation to be a huge help in closing the sale. I refer to this as “getting to yes”.
Set up – you’re on a listing presentation – you’re going over the various things you do to market the home – you mention something like…here’s something else I do…I am going to _________(hire a professional photographer to take pictures, so your home makes the very best impression possible) – you notice they seller nodding their head – positively responding – this is where you throw in a trial close. You’d say – it seems you like that idea? The say YES – So should I note that’s something you’d want me to do should you list with me? They say YES. On this one point in your presentation, they say yes to you two times. An embedded command is a Neuro-Linguistic Programming (NLP) technique for "planting" a thought within the mind of another person beneath the person’s conscious awareness.The purpose of using embedded commands is to move your target’s mind in the direction you want it to go without seeming to be intruding, ordering or demanding in any way.
When you ask the trial close - be subtle and nod your head up and down too. Body language is 55% of communication. Whenever possible, layer this throughout your presentation 5-7 times, time it with a positive comment, body language - ex.a smile or when you notice them nodding yes with you. When prospect/client says yes multiple times during the presentation, it reduces resistance for a ye at the final close.
Alternative Close
What is it?
The Alternate of Choice close is a question with two possible answers — either answer is an agreement and gets you the desired outcome. The key is to give two solutions that both lead toward the sale. By giving two choices, one or the other is usually chosen. This is much better than what happens when you give one choice, and the only other option can be a “no.”
The Alternate of Choice can also be the simplest close you will ever use. It’s also so easy to forget to do it - I hear agents often saying things like “when would be good for you?” or I am open most of the day on Tuesday, when did you want to meet?” Often, this is our way of being “polite” and “customer service” oriented. However, it sends a message that we’re not busy and lacks professionalism. If you ever wonder why people think they can call you, and you’re able to meet them without any notice? This is why. People want to do business with people doing business. Imagine if we called our doctor, lawyer or CPA and they said “I am open most of the day on Tuesday, when did you want to meet?” It is safe to assume most of us would hang the phone up and have some doubts about their professionalism, and/or level of competence.
When should I use it?
- Alternate of Choice question is often used to get a date or time commitment to set up an appointment. However, can be used any time you are looking to get a client or prospect to make a choice between two things.
- Example of an alternative close: ________, I can meet you (Tuesday) at 4:30 pm or would (Thursday) at 5:30 pm. Which would you prefer? Or, you’re on a listing appointment, and you could say... do you want me to have the for sale sign up early next week or by the end of this week? You see the idea here, we’re simply giving an “alternate choice” and either way you win. It’s important to be casual and not sound “salesy” or “scripted”. Just ask like it’s the right thing to do.
- Don’t talk once you asked the question – the first person to talk loses.