Practise Your Core Fundamentals Daily

By
Real Estate Broker/Owner with 3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. #9001154

Have you ever wondered why Tiger Woods is the best golf player in the world? Or why Michael Jordon could most probably be the best basketball player ever walked on Earth for a very long time? Well, it is because they master their core fundamentals of their professionalism.

One thing is for sure, they would not be where they are without practice. Yes, even if God-given talents. Practising their core fundamentals becomes a part of their lives. For golf, Tiger practised hours and hours of strokes and swings. For basketball, Michael practised hours and hours of dribbling, passing, shooting, rebounding and defending. So, what are we sales professions are to practise daily?

More salespeople do not know what are our core fundamentals, much less practise it. So, here they are:

Building rapport, qualifying, presenting, closing and handling objections.

Building Rapport: A "People" Person will not find this hard to do. If you do not minggle well, then this should become your #1 priority to practise. I think this is also the most important of all the fundamentals.

Qualifying: Learning to qualify your potential clients early can make a difference in your overall success. Pursuing non-qualified prospects is costly. If you learn the qualifying questions early, your productivity will soar and hence, achieve more in less time. If you want some tips, you could start with the "W" questions: (what, why, when, and who). Write it out on a sheet of paper in your style so that it feels comfortable to you.

Presenting: Have you completed your Client Presentations yet? If you have not, start! A good sales presentation is the first step, then practise it. Know what to say and how to say it. A well-prepared presentation sounds confident, polished and professional. Role play with your co-worker or family member if you have to. Get their feedback. Record it, play it back..... Know of a great speaker that you would not mind hearing for hours and hours, yet it only feels like minutes have gone by? Do you know they practised and practised until it becomes their second nature? It was not their first time presenting it to you.... (That I am sure!).

Closing: Closing is an art of itself. Know that closing is one of the most feared areas of the sales process.
Are you afraid of the outcome is not to your liking? How about trying this? Instead of "asking for the business" or "where to sign on the dotted line", ask if you have provided a solution. These words do not create the same fear and for me personally, it is a much easier approach on my personality.

Handling Objections: This may been the most difficult part of the fundamentals. As humans, we do not like No for an answer. But it is inevitable - or at least know that it could happen so that you could plan to turn around each objection. As an example: A Prospect may disclose to you during your closing step that he/she is not ready to make a decision right now (or too busy). Then go back to the Qualifying Step. See if there is some issues you did not address prior.

I would encourage you not to push too hard as well. People make decisions based on their comfort level. Give them the time, respect and space to make the best decision for themselves.

Building a business is not easy. The real truth is that the odds are against us. It does not matter whether I like it or not. But if you have an effective plan of action, you can shave off some small bumps.

So, are you ready to practise your core fundamentals today?

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Rainer
93,046
Andrew Trevino
ADT Real Estate - Wilkes Barre, PA
Wilkes-Barre Homes For Sale

Loreena,

Good points all. Thanks for the reminder to practice. You know, Michael Jordan actually spent 5 hours practicing for every one hour he spent on the court.

Aug 25, 2007 02:41 AM #1
Rainer
178,223
Birmingham Alabama Real Estate, Stephen Wolfe
LivingInBirmingham.com - Birmingham, AL
You are telling all the secrets! Just kidding. Great information. When the fundamentals are practiced and practiced over and over our job becomes so much easier. We don't have to be worried about the small stuff, we've already practiced all of those situations. Now, we can move on to success!
Aug 25, 2007 09:46 AM #2
Rainmaker
123,462
Rebecca Savitski
BSR Real Estate Group - Cary, NC
NC Real Estate Listings

Great post - I am having a hard time getting focused this morning and this post helps.

Thanks

Aug 27, 2007 02:23 AM #3
Rainer
73,623
Lonn Dugan
Toledo, OH

Good Stuff Loreena : )

Some more examples of DAILY fundamentals that we all need to remember:  myself included

Call three people per day who you already know.  Just chat.  Close with simple request for referrals. 

Write a personal note to one past client, and one person you met recently

At least once per week, call one person who has referred you business in the past, and invite them to lunch.  Just talk.  Don't bring up real estate until they do. Tell them how much you love the business... ask for referrals if the chance arises.... move on... find out how much they love their work... how is the family, what are they doing for fun lately,  etc...

Update your web site and tweak search engine keywords

Post to your local city or area real estate news oriented blog

 

Aug 27, 2007 02:31 AM #4
Rainmaker
259,533
Melina Tomson
Tomson Burnham, llc Licensed in the State of Oregon - Salem, OR
Principal Broker/Owner, M.S.
Good reminder to help stay focused.
Aug 27, 2007 03:33 AM #5
Rainmaker
305,604
Karen Otto
Home Star Staging - Plano, TX
Plano Home Staging, Dallas Home Staging, www.homes
This is great information and advice Loreena. It is encouraging to for others to read as well. Thank you for sharing!
Aug 27, 2007 02:51 PM #6
Anonymous
Tom Crook

Great information to share with your fellow agents.  The fundamentals of RE are critical when you are first starting out (or maybe even a veteran).  If I was recruiting someone for a basketball team I would expect them to know how to pass, dribble, shoot, etc.  Think about what someone would expect you to do in RE:

be accountable, motivated, focused, prospect, follow-up, listing presentation, showings, negotiating, admin paperwork, returning phone calls...did I miss any?

 Always be aware of what your fundamentals are in any role you take on.

Great blog!

Sep 12, 2007 07:40 AM #7
Rainer
37,063
Bob Maiocco
8Z Real Estate - Evergreen, CO

Great point.  It's a lot like the old saying:  It's time to sharpen the saw!

 

Everyone we meet in the course of public appearance is expecting us to be professional and a solid source of information across a wide variety of topics.  Those who choose success in our industry understand this responsbility and seek a high level of achievement in a well rounded life.

Sep 14, 2007 04:08 PM #8
Ambassador
447,673
Deb Brooks
Brooks Prime Properties Wichita Falls Texas - Wichita Falls, TX
Loreena, The two biggest points I think you hit are the qualifying and the closing. All else should fall into place. Thank you for a great article and I hope everything is going well with your new baby. Happy New Year, Deb.
Dec 31, 2007 03:20 PM #9
Rainer
14,698
Marsha Cleaveland
No longer in the sales business - Glendale, AZ
GRI, AHWD, CNE
Practice will help us succeed when the going gets tough.  Your list keeps us focused.  Thanks!
Jan 02, 2008 12:24 AM #10
Rainer
41,853
Eugene Jones
Weichert Realtors - Somerville, NJ
Great post and use of analogies. Like Mike, if I could be like Mike!
Mar 14, 2008 12:32 PM #11
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