Real Estate agents are not good salespeople. The most suprising statistic I have learned in real estate is the one about how many real estate agents don't have prior sales experience. This number is around 85%. One of the reason I decided to get my license is the fact that when my wife and I started shopping for a home a couple of years ago was how universally the salespeople were. I have done sales and/or sales management for over twenty years so I have learned a thing or to about it.
Sales is not the old school high pressure sales tactics on your client. What professional sales is about is listening to your client to understand what the client wants, even if they aren't 100% sure. What that involves is several skills.
* listening is job one
* ask intelligent questions to discover what they are looking for
* intense product knowledge - this is especially true in real estate
* find a solution that meets their needs - whether they are looking for their dream home or the ideal investment situation
The most important thing is to always strive to do better. The number one thing to do is a postmortem analysis. Every conversation whether it results in a sale, a dead deal, the relationship going forward, or the relationship going backward needs to be analyzed.
Tonight was the first time in my life I asked a person to invest money in real estate with me. I've asked dozens of clients and potential clients to do this for themselves. Most of the time they have made this decision on there own and I merely show that I am the best choice for their needs.
They were from Florida and I had to certainly educate them on the Denver, CO market as well as all the various options. I answered all of their questions effectively, built rapport, and educated them on the process. I even had them buttered up with dessert.
Hint (It always helps to butter them up with a little piece of dessert). Admit it you want to be a client of mine don't you. Free dessert for everyone who buys a house.
I made a mistake at the end. Maybe it was the end of a long week, a long day, or just a Freudian slip. I asked at the very end. "How much money do you have to invest" This is what came out vs. what I meant to say. You can see those to little words and what a HUGE difference it makes. It's the difference between going I'm an expert and if you describe you available capital, your liquidity, your tolerance for risk, and your financial goals. What came out can make you sound like a bank robber, hood, or a real estate swindler. Two freaking words!
I will never, never, ever make that mistake again.
The other thing I should of done is there were two different parties there. At the end they were arguing over the check. What that means with classy people is who was going to pay for it. I saw the proximics of the table and knew that the waitress was 90% likely to hand it to the couple I was trying to recruit as an investor. I should of grabbed the check as it was coming over and handed it to the other party. Then I should of handed it to the other party. The other party could of written it off on their taxes. I should of done that and said, "I always look out for my clients best interests." That could of been one of the best closes ever in that situation!
Oh well. There were tons of great things said, great information given. Trust was established. Confidence was established. Credibility was established. Still I review every single sales call after thousands. That is how you get better. It's called a postmortem evaluation. Have you heard of this? Do you do this? Does your company do this? A powerful tool use and you will get better. If you don't use this how will you get better.
P.S. This blog was written late because I woke up from sound sleep bothered by it and wanted to share.
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