I'll be hosting my first salesperson class at our office in April. I'm excited to be teaching it, and I have high hopes for the students who are trusting me to get them trained for their class exit exam and their state and national exams. I remember those early classes well.
When we finished our classes it was time to take the exit exam. I've taken a lot of exams in my life, but
I can't say I've ever really developed an affection for them. The salesperson exit exam was designed to get us thoroughly prepared for every possibility. It was tough. I was even more concerned when I realized I was the first one finished. It gave me a sinking feeling in my stomach. I passed, and then I passed the state and national exam which was followed by the broker exam 7 years later.
The one thing I learned through all of the tests I've taken is that your first instinct is more often than not the right response. Another thing I learned is that there are many pieces of information thrown into the questions that confuse, distract and force you to think. You can't afford to let yourself get drawn into information that has nothing to do with the answer.
Ironically, the same thing happens when you get into the business. Everyone who calls, emails or walks through your door is not the right answer to your need for business. Like those unnecessary words in the questions, they can keep you tied up and busy on futile searches that end in exasperation and failure.
It takes a while to develop that "testing taking sense" with clients, but it will come if you're willing to see the real answers behind the smoke screens. I'm not encouraging you to turn clients away, but to take a good look at clients before you sign on. There are a handful of clients I don't take, such as:
- The investor who wants to pay 25% of the asking price.
- The buyer who wants to take a look at specific properties two weeks from now in a hot market. The listings won't be there. I'm very up front about the market and possibilities.
- The seller who wants 40% more than the market will bring for his home. I show the comps, and then I move on. If the seller has a change of heart, I'll stick with him. If not, I won't.
- The buyer who refuses to get pre-approved. If the buyer can't explain why, I cant afford to waste my time. I have other "right answer" clients with needs also.
- The seller who refuses to allow his house to be shown most of the time. If buyers can't see a house, they can't buy it.
- The REO that is 30 miles away and needs weekly inspections. Some asset companies will require this, and then still want 25-35% of your commission. No thanks.
- The client who wants to dominate my time. I will give my clients 100% of my energy when we're engaged in the process, but I can't give anyone 100% of my time. I can only stretch so far.
- Buyers or sellers who want a piece of my commission.
You may have recognized some of those clients and situations. There are a lot of good ready "right answer" clients out there. If you let yourself get distracted by the "wrong answer" clients you'll fail the test of a profitable business model.
Over time, your experience will help you see the right clients. Even if you're new to the business, the clients will reveal who they are if you watch and listen. Good ones will be easy to see, and bad ones will become more obvious. And, you don't have to worry about the "wrong answer" clients. There will always be agents out there who are willing to ignore all of the warning signs in hope of a commission check.
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