Back to Basics of Real Estate Sales Skills

My main focus in coaching real estate agents is to generate Consistent Clients through referrals and repeat clients. There are many approaches including touching your database consistently with a newsletter, cards, small gifts, quick phone calls and by stopping by, tools like social networking, bringing new clients into your funnel and then becoming consistent with them, etc.

These were the things that transformed my business when I was selling real estate.

A lot of my posts here are related to generating referrals, quick and easy ways to touch in with your clients, and new tools or resources to simplify or expediate these tasks. But I wanted to take a quick moment to get back into sales coach mode.

While you may be more focused on relationship-building through your marketing efforts, once you have a live body with you that is ready to buy or sell a home, you must be sure you don’t forget that the basis of real estate is sales. They came to you for your knowledge and expertise in getting the job done, and if you don’t go through the basic sales steps, you probably won’t get the job done.

So just as a refresher course, here are four common objections you may get as you are going through the sales process, and ways to be sure you deal with them effectively:

Lack of Perceived Value - the key word here is “perceived”. Even if you as a professional know that the house or property is worth the listing price, it is your job to be sure your clients understand why. Make sure that you know their “hot points” for their ideal property, and you communicate why this property fits those. And come prepared with information about similar properties in the area to justify price, or show value in the home.

Lack of Perceived Value - in a slow market, many buyers feel like they can take as much time as they like and still be in a position of power. Find reasons why that may not be the case (even in a buyers market, an attractive and appropriately priced home can still go quickly). If there really isn’t much urgency, find a way to create some yourself by offering sales incentives or bonuses for acting quickly. As many sales professionals know, letting them leave to “think about it” is often the best way to lose a deal.

Lack of Perceived Funds - a slow economy can often make consumers overly cautious, and if they are not aware of the many programs out there to assist them, can decide this is not the right time for them. Take the time to become knowledgeable about programs like zero down payments, creative financing, or even rehab or government programs. Once you’ve gotten them excited instead of nervous about funds, make sure you can direct them to a mortgage professional that specializes in these types of programs.

Lack of Connection to You - whether they feel that a competing agent or brokerage can give them a better deal, or they feel they just don’t connect with you personally, check out your processes. Are you educating people about your experience, the many ways you can help them, and the value you can provide? Are you easy to work with (friendly, return phone calls quickly, are prepared when meeting with them)? Check out competing agents and be sure that you stand out in some way and communicate that to your potential clients. Make sure they want to come back to you. If they’re not comfortable working with you, or are hesitant that you are the right agent, they could easily decide they’re not ready for a big transaction that can have such an impact on their life.

Take-away’s: Don’t forget that you are a sales professional, and need to take them through the sales process once they decide to work with you. Make sure your offering is worth the price, communicate the value, create strong reasons for them to act now, and create an experience that your clients feel good about.

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