I’ve worked with thousands of real estate agents at all levels over the past 30 years.
Two of the most common problems I see with coaching clients, and for that matter the biggest reasons for failure in this industry, are…The notion that somehow working harder will make up for working smarter. Fear of asking for what one is worth and deserves.
Here’s a few of my favorite strategies to overcome both of these obstacles, set you apart from the average agent, and lead you to greater profitability…
1. Raise it.
Before the listing appointment, fill out all paperwork with your new rate (7% maybe?) and make it business as usual. Scared? Well, make a great listing presentation, don’t leave until you get the objection, and learn how to overcome the objection. If you have to, drop it back down to your old retail rate but only after much hesitation.
2. Email new listings.
Send new listings to your database immediately, hours before it hits the MLS. This is a two-fer:
#1 – It keeps your database informed with “secret” pre-listing information, but with your “permission” they can forward this hot info on to their sphere.
#2 – You make more double ends with new people.
3. Institute a cancellation fee.
Many agents allow sellers to cancel listings with a guarantee stating they can [...]
by Denise Lones
Many real estate agents get stuck and stop making progress when they don’t see immediate results.
The key to mastering any business is to keep taking the action you need to improve.
However, if you focus on the action rather than the results, the results will come.Here are 10 ideas to jump start your business with action:
1. Send every one of your past clients something about the current real estate market. A mail piece or report that is well thought out and that educates your clients on what is going on in their local market is a great way to connect. Past clients are a wonderful source of referrals and past business, however, a small percentage of clients use their agents again due to a lack of “connection” (which is another way of saying that you forgot to keep in touch with them). This data base of clients is your “gold mine” and you need to take care of them. When you need to increase your business, put together a mailer which includes quality, relevant information. Follow up with them to make sure they received it and to see if they have any questions.
2. Focus on connecting with people and being present in public. Real estate is a people business where success depends greatly on your ability to make connections with people. As an agent you need to stay in the forefront so potential clients can see you and get to know you before they hire you. Make a plan for the year [...]
In preparation for an upcoming speaking engagement I spoke with some of the top brokers I coach to find out their favorite listing techniques.
If you’re not already, try using a few of these tips at your next sales call…Broker #1
Use professional photography. One broker said he shows clients the visual difference between his listings and competition (that doesn’t use professional photographers). He’ll even ask the seller to pick a house they know is for sale in the MLS and compare its listing to his; he makes sure that his listing beats the competition in the virtual tours.
Explain the system of regular communication. He guarantees every seller communication between 10 and 12 once a week. That’s because having a regular talk with clients is the biggest complaint that sellers have about agents.
Take off your shoes when you enter the house. No matter what condition the house is in. I’m surprised at how many people actually do take their shoes off, but it shows a respect for the house, casts a good impression, and helps the clients feel more respect for the real estate. One of our coaching clients even buys booties from a hardware store for prospective buyers to use when entering a home.
Be prepared with and know the comparables. Get comparables for all of the houses in the neighborhood. Having them printed or in notes that you use to answer the seller show that you’re very aware of the same data as [...]
Here’s a checklist of ideas to educate your prospective sellers on the pitfalls of selling their home and help position yourself as the local expert.
Just one more piece of collateral to add to your lead conversion and follow up tools as a free download on your web site, addition to your email auto responder, or through your client e-letter.
Pick out those that best suit your business strengths and modify to make it your own.18 Mistakes Most Sellers Make When Putting Their Home on the Market Pricing your home too high: Have a professional determine comparable sales and listing competition. You want top dollar, and you want all the buyers to see your home. The top agents know how to walk that fine line. Small repairs bring big profits and fast sales: Have a professional give you low-cost solutions to minor repairs that will yield big profits. I arrange for a professional inspection for my sellers so we are actually selling “pre-inspected properties”, which is another reason why I get more showings for my sellers. Not considering other financing terms (besides cash): Have a professional give you options that may be better than cash for you, the homeowner, and financing options that excite a buyer. All of my sellers have a flyer that we give them on the “Fifteen Ways a Buyer Can Finance” detailing how new buyers can finance your home. Market Timing: Have a professional determine if the market cycle is poised to net you [...]