You Are The Expert!!!!
The game has changed. You MUST differentiate yourself from everyone else to grow your business. One way to separate yourself which is free, and often overlooked, is to assume the position of expert IN YOUR SALES PRESENTATION. You can not just hope that the client is going to respect you, you must earn the respect of expert quickly. And it is done at the very first contact with the client-by asking questions. Sounds simple, but it is so powerful.
You MUST qualify the prospect first to see if you can even get them sold. I know you need that listing or that sale but if the numbers don’t work, if they are too unrealistic, if they assume they are in the drivers seat, then you will likely never close that transaction. In today’s tight lending environment, you need a willing buyer AND a willing seller-working together with lender and you to close the transaction. It is a TEAM effort. And you need to understand very quickly who is going to play ball. You also need to find out what the goals of the team members are. These things can only be found out by asking questions. NO DEAL IS A SLAM DUNK ANYMORE. It makes no sense to enter a transaction where nobody is willing to play ball-you will just end up frustrated and broke. You need to control the transactions by positioning yourself as the expert.
The key to getting the client in the door, AND yourself in the mode of expert, is to SCREEN OUT THE BORROWER AT THE INITIAL CONTACT. When that client first contacts you, tells you he is Dr. Smith and is buying this or that, the first-I mean the very first thing you should do is ask a question. What are their goals?, where are they buying?, what type of property?, investor or owner occupied?, etc.” The person asking the questions is the expert, the person answering the questions is NOT the expert. If that client tells you the property they are buying and asks YOU what your fees are, etc. then HE is the expert and of course you are relegated to a commodity. When you go to the Dr. with a pain, HE is asking the questions, “where is the pain”. It is the same with this.
Listen, it is very likely that ANY client you talk to is shopping you. Many Realtors blow it at the first call. The key to establishing yourself as an expert, the key to converting more deals, the key to better time management, the key to more closings, can be found in simply qualifying that client HARD at time of application. I don’t care if it is Bill Gates calling you, you need to qualify him. Otherwise-YOU lose.