increase sales: What Needs to Be Taught in Ongoing Real Estate Education - 02/08/24 07:27 AM
A recent article in Inman sparked my attention given my experience in public, private and corporate education.  The author shared 11 things he wished were taught to real estate agents in real estate school.
Given the high drop out rate of licensed real estate professionals, this list is good, but fails to address what I have observed.
#1 Missing Piece – Know the Sales Process
Far too many wanna be agents have zero to limited sales experience.  Real estate is first and foremost about sales and requires a thorough understanding of the entire sales process.
#2 Missing Piece – The Reality
Being a real estate agent … (20 comments)

increase sales: Gain Clarity and Increase Sales by Answering This Question - 02/07/24 07:16 AM
Often when I ask other real estate agents this question “Your standard of practice is?” I receive a quizzical look to blank response.  Then the next question by the asked real estate agent is:
“What do you mean by standard of practice?”
The recent copycat lawsuits have shown the vulnerability by not having a standard of practice.
There are many definitions for standard of practice within each industry. However, if we accept each word with its original definition this is probably the best definition for us within the real estate industry.
The word Standard is from Middle English, Old French and Old Frankish … (5 comments)

increase sales: Time to Change How You Lead - 11/06/20 04:47 AM
Realtors are leaders. How we lead our clients, our colleagues and ourselves can be directly connected to how we are able to increase sales within our real estate practice. With 2020 being turbulent for many within the real estate industry, leading ourselves to achieve our professional and personal goals has been difficult for many.
 
In late October of 2020, I had the privilege of attending a Zoom conference where this insight and more importantly an ethical attitude was shared:
 
"Let’s lead with our hearts and not our pocketbooks."
 
This is a somewhat simplistic tactical rendition of the “Golden Rule” which is clearly articulated in … (1 comments)

increase sales: Is This the Music to Your Realtor’s Ears? - 10/04/20 07:03 AM
An old song recently played on the radio by Bobby Darin entitled The Sweetest Sounds. For some these lyrics may be music to their Realtor’s ears:
 
The sweetest sounds I'll ever hear
Are still inside my head
And the kindest words I'll ever know
Are waiting to be said.
 
For some Realtors their music or sweetest sounds are “Yes I want to make an offer” followed by “offer accepted.” However, for me, the music to my ears are:
 
 
“You are my Realtor”
and
“I’ve shared your name with my friends.”
 
Knowing that repeat customers along with sales referrals from existing customers in … (2 comments)

increase sales: Are You Increasing Sales at the Expense of Relationships? - 08/02/20 07:38 AM
In the 1992 movie, Glengarry Glen Ross, the sales trainer emphasizes the ABC of selling – Always Be Closing. This high-pressure strategy may increase sales, but in that process will lose or destroy a lot of relationships.
 
Yesterday, I invested a 45-minute telephone call with an out of town couple who purchased a vacant lot from a local builder. The builder was building one of their custom homes on this lot.
 
Unfortunately, the builder and the broker associated with this builder have not been as forthcoming as they should be.  The couple were quite frustrated and to the point of by angry.  Their … (3 comments)

increase sales: Why Aren’t You Where You Want to Be? - 07/31/20 07:42 AM
In a comment to this blog, Maybe This Is Why You Can't Increase Sales, Grant Schneider referred to the misalignment respective to leaders naming the top three business goals. I, too, have experienced this business misalignment within in my executive consulting and coaching practice.
 
What this misalignment does is to answer this question:
 
Why aren’t you where you want to be?
 
Right now, quickly write down your top three (3) business goals. For most, this activity is not done quickly because many small business owners including Realtors have not invested the time to engage in strategic thinking and then constructing a comprehensive strategic plan.
 
Usually … (7 comments)

increase sales: Maybe This Is Why You Cannot Increase Sales? - 07/30/20 07:07 AM
Fact, most Realtors want to increase sales. Yet, they more than often overlook this aspect to grow their businesses – the Mission Statement.
 
Having facilitated numerous sessions dedicated to writing Mission Statements, I always begin sharing this scenario.
 
"Remember, Mission Impossible where Mr. Phelps received the self-destructing taped message about the 'your mission if you decide to accept?' The tape revealed the desired result of the mission. Mr. Phelps accepted and then gathered his resources, his team. Everyone on the team knew the desired result and clearly knew his or her role in executing the mission.
 
Now look at your mission statement. As your … (4 comments)

increase sales: Whose Business Card Does Your Client Have? - 07/29/20 07:32 AM
Today, many real estate brokerages have embraced the team concept. These teams have segmented the sales process into listing agents, selling agents and transaction coordinators.
 
Funny thing, if we believe sales is about the transference of feelings (Zig Ziglar) or sales is about relationships as in relationship selling, then let me ask this one simple question:
 
Whose business card does your client have?
 
Years ago, during my corporate sales experience, I was the inside sales manager for a multi-location industrial distributor. Our outside salespeople would come in and attempt to hand off their responsibilities to the inside sales personal. When this would happen, I … (1 comments)

increase sales: Want to Increase Sales? Go Beyond Two Photographs - 07/18/20 10:01 AM
Believe it or not, would you list a home for $350,000 in a very stable neighborhood (homes are held for 15-20 plus years) and the market the home in the MLS showing only two (2) photographs of the front and side elevation? Oh, and by the way the property is vacant and the only one currently for sale in this neighborhood.
 
Marketing in all industries including real estate is about attracting attention and beginning to build a relationship. Displaying only two (2) pictures may indicate the following:
 
The house is a terrible mess inside The listing agent/brokerage firm is lazy or doesn’t … (2 comments)

increase sales: Removing Sales Obstacles Is a Positive Strategy - 07/11/20 06:09 AM
Many sales professionals understand sales objections. These are reasons justified or not when buyers object to making a purchase. Sometimes these sales objections are really stall decisions which a sales professional can address.  
 
Two examples of sales objections would be:
The property is in a Homeowner’s Association (HOAs) The property is on septic  
For real estate agents, there are sales objections, but also sales obstacles. By identifying these roadblocks and removing them, the purchase or listing of the house or vacant land can move forward.
 
Possibly, the best example for buyer’s agents is the pre-qualification letter. In AZ, there is an actual … (5 comments)

increase sales: A Must Attitude if You Wish to Increase Sales - 04/28/20 05:58 AM
Funny thing about sales, sometimes it is the simplest attitudes that increase sales. One must sales attitude I have discovered is “time is of the essence.”
 
Having 20 plus years in corporate inside sales long before email, texts and yes even faxes, the most important sales attitude was being timely. If you didn’t return calls quickly, you lost the inquiry and usually the sale. With profits back in the 1980’s at a significant low, securing every sale was critical.
 
Today now some 40 years later, quickly responding to calls still remains an essential sales attitude. Now in my third full time year of … (7 comments)

increase sales: Improve the Sales Relationship with this Fact-Finding Question - 04/09/20 08:42 AM
As Realtors and as sales professionals, we ask important questions to improve the sales relationship to move the sales lead from the initial property inquiry to an accepted offer to hopefully close of escrow. However, there may be one fact finding sales question we may fail to ask. That question is simply:
 
What is your preferred method of communication?
 
Not being a text person, I have had numerous clients who prefer texting. I have learned to text them if I have sent them an email to esign document.
 
Then there are those who wish to be personally called. This has provided another learning moment … (59 comments)

increase sales: Infusing Your Story into Your Sales Conversations - 04/07/20 09:12 AM
So often we fail to utilize the obvious in our sales conversations. If we believe sales is the transference of feelings, then stories build and strengthen the relationship selling bridge between the Realtor and the client.
 
Now with some free time, why not develop your personal story? Of course, as your have sales conversations, you infuse your story into the communication. This infusion is not the entire story, but rather snippets of your story relative to what is being shared between you and your client.
 
For example, here is my story which answers the main questions I have received during my numerous real … (2 comments)

increase sales: Time to Look Beyond this Word to Increase Sales - 04/02/20 06:38 AM
Do you want to increase sales? Then this one word should not be in your thoughts or your actions. And that word is complacency.
 
Complacency is defined by Cambridge Dictionary as “a feeling of calm satisfaction with your own abilities or situation that prevents you from trying harder.”
 
Historically people tend to retreat to this behavior after their fight or flight response has kicked in. During this retreat, they potentially embrace fear and this only solidifies their complacency.
 
Now in this time of economic turbulence, high performing salespeople continue to do what they need to do. Trying harder is their “modis operandi.” These folks … (4 comments)

increase sales: Excuses Fail Every Time - 03/31/20 06:34 AM
With the current situation, lots of people are making excuses within the real estate industry. Removing those Realtors, financial institutions, title companies that are not considered necessary business by their state governments, using the excuse of this situation is truly not acceptable.
 
Funny thing many people look to embrace the latest excuse for not doing what they need to do. No wonder 87% in real estate fail in the first five (5) years. (Source NAR 2014)
 
We truly don’t need a pandemic to showcase this behavior.
 
Many of my sales leads are because the sales leads called other realtors who failed to answer the … (3 comments)

increase sales: Monday’s Musings: Do You Have Grace? - 03/30/20 06:15 AM
Have you ever considered having Grace within your real estate business? Grace is typically a word associated with religions. Yet, maybe we are missing key opportunities to increase sales and further strengthen existing relationships especially during trying times.
 
Sourcing out the origin of the word grace provides us with different languages. Both Latin and Greek define grace differently. One reference source indicated grace is from the Greek word “Charis.” There are numerous sites which define the word “Charis” differently from meaning kindness to gratifying in manner. Latin defines grace from “Grati” to meaning to show favor.
 
Today grace is defined in the … (15 comments)

increase sales: I Want You to Want Me - 03/27/20 07:56 AM
As I was driving to an inspection (yes we kept our social distance) I was listening to the Cheap Trick song “I want you to want me.” These six words are the essence of all real estate actions. We market to buyers or sellers with the goal for them to want us more than they want another realtor.
 
Zig Ziglar said “Sales is the transference of feelings.” Having potential clients want you is a feeling.
 
The question in front of you as you look to increase sales is:
 
“Are you actions pulling clients closer to you or
pushing you to them?"
 
Imagine for a … (6 comments)

increase sales: 6 Proven Steps to Increase Real Estate Sales – Step 6 Keeping - 02/03/20 06:36 AM
With the 97.7% of U.S. businesses having fewer than 20 employees, salespeople are now also responsible for keeping customers. These small firms including real estate do not have the financial wherewithal to maintain dedicated customer service departments. Salespeople are customer service people because research continues to show the cost of keeping a client is far less than acquiring a new one.
 
Additionally within this sixth step, there is an incredible opportunity to increase sales. After the sale is delivered and the real estate salesperson verifies all went well, he or she can return at a later date and ask for three referrals. … (4 comments)

increase sales: 6 Proven Steps to Increase Real Estate Sales – Step 5 Selling - 02/03/20 06:35 AM
Selling only happens after you are speaking with a potential ideal customer. If the marketing has been executed well, you should be speaking with a qualified ideal customer.
 
What happens as other noted sales experts have written salespeople in their desire to increase sales waste a lot of time with tire-kickers, sales leads without decision making authority or who lack allocated budgets. (Think qualified sales leads)
 
In real estate, the pre-qualification from is a great tool to discover the actual buying budget. The AZ real estate offer/contract requires the AZ Pre-Qual form with submission if a loan is involved.
 
Ideal customers are those … (5 comments)

increase sales: 6 Proven Steps to Increase Real Estate Sales – Step Three Execute - 02/03/20 05:53 AM
The assessments have been completed. Clarity is now reality. This third step is strategic execution. Research suggests the super majority of strategy execution fails. (2015 article by Candido and Santos in the Journal of Management & Organization). Many of the reasons for failure of strategic execution return to no or poor assessments to ongoing lack of clarity.
 
Ram Charan and Larry Bossidy in Execution succinctly summed up the essence of execution by these words:
 
“Execution is a specific set of behaviors and techniques that companies need to master in order to have competitive advantage. It’s a discipline of its own.”
 
Successful strategic execution comes … (8 comments)