Tuesday, September 20, 2011

Four Sales to SUCCESS

I was trained to look at each contact with a prospective client as a SALES opportunity. Don't try to do one sale before you have completed the sale before it.

The first sale is the initial phone contact with the prospective client . . . Sell the Appointment. Don't let them make you do your presentation over the phone. Give them enough info that they want to hear more. You want to give your presentation face-to-face.

The second sale is your Presentation . . . Sell the Sizzle, not the Steak. If you want to meet them in their home or office, ask for a specific amount of meeting time . . . I usually ask for 30 minutes because it is not too much time out of their schedule and yet it is enough time to make a quick evaluation of their interest in your presentation.
• first 10 minutes is the "ice breaker"
- If you know them already, talk about something you have in common
- If they are new to you, look around the room quickly to see what they are interested in . . . pictures, trophies, golf clubs in the corner, fish tank, etc. . . . and ask about that. They will want to talk about their passion and that will loosen them up.
• next 20 minutes - your presentation
• last 10 minutes - wrap it up and set up next appt. . . . when you reach the end of the 30 minutes, look at your watch and tap it with your finger and say, "Well, our time is up, so I will . . . (reaffirm what you agreed to for the next meeting). Many times, if the client is really interested in what you are saying, they will say, "No, you don't have to leave yet . . . I want to hear more about . . ." (or something like that)

The third sale is the Close . . . this may take more than one meeting.

The fourth sale is to get Referrals . . . if they liked what you did for them they will give you 2 or 3 referrals. If they cannot think of anyone, don't tell them that you will call them back. Have something to prompt them with. You can interchange the questions or come up with new ones.
• Friends - Do you have any friends who have outgrown there current house and are talking about buying or building another one?
• Neighbors - Have you heard any of your neighbors talking about getting transferred?
• Relatives - Do you know any of your relatives here in Houston or Texas or other states that are thinking of selling their house or buying/building a new one?

Guest Blogger David B. Atkins is a Sales Associate with Coldwell Banker United, Realtors in Houston, Texas and owner of Bulldog Shipping

Wednesday, September 14, 2011

Sale slumping or nonexistant?

Sales can be a discouraging and frustrating business when you look at each potential customer one at a time. Remember when Tom Hopkins and his quarters? This is a contact sport frequently requiring many attempts before obtaining a sale. I’ve seen statistics that show 100 contacts make 5 appointments that make one signed agreement. To create a signed agreement (buyer rep or listing agreement) you’ll need to hurry the process along by making more contacts every day.

Here’s what I mean, you’re right FSBO’s don’t want to pay commission. They’ve got their guard up because they know you’re going to ask. We know, however, that 70% of all FSBO’s give up and list with a real estate agent. Create a relationship with them through multiple contacts. Statistics show only 4% of prospects sign agreement after the first contact. This increases to over 80% after the 8th contact. Review your FSBO plan and keep calling. Don’t give them pricing info. That’s what they get when they list with you. It’s your expertise.

Now, how else are you going to fill your funnel? Open Houses? Expired listings? Social Media? What about your Sphere of Influence and the 7 Second Presentation? Revisit your business plan.You can do this. If you lost it or didn’t make one then ask and I’ll give you some templates. The bottom line is simple mathematics. If you want a signed agreement each month you’ve got to be making 100 contacts EVERY WEEK.

Make the act of prospecting your goal so you can have some immediate success. Here’s what I learned as a new agent: “I don’t expect you to sell a house every day. I expect you to do the ACTIVITIES necessary to get in front of people.” In other words I had to teach my wife and kids to stop asking me if I sold a house today and asking me if I did my prospecting activities. Get it?

You still get to ask for the business with your contact it just isn’t as imperative to make business with every person when you’re following up with 100 or more people.