Sales coach David James had plenty of practical advice for real estate agents at his coaching session at Residential Settlements last fortnight.
Real estate is a competitive industry, but many agents forget some basic but important tasks, according to David. To stand out, said David, real estate agents must simply make the uncommon, common.
Here are three tips he gave for doing just that:
1. Be the best, not the cheapest
It’s tempting to compete on price, but you can either be the cheapest or you can be the best, according to David. You can’t be in the middle, either, as you’ll inevitably slip towards being the cheapest.
Unfortunately, there will always be someone who is willing to be cheaper than you – so instead, differentiate yourself and be the best!
Dressing the part, giving sellers constant updates (wouldn’t you like that if you were selling?), and having a database that’s fit not fat are all ways you can be the best instead of being the cheapest.
2. Adapt to changing market conditions
What has worked for you in the past won’t necessarily work as well in the future, and agents can benefit from embracing change.
To make his point, David told a story about a fruit seller he met while visiting Bali. He asked her if he could could take a photo of her with her fruit stand, and he gave her a generous tip afterwards.
Later, he was walking through the area again and visited her stand buy some fruit. When she saw David approaching, the fruit seller smiled broadly and asked “Would you like another photo?”.
David’s point: How ready are you to embrace profitable new opportunities?
3. Take a risk
David also talked about a friend of his who is a farmer. This friend spends millions of dollars each year to put a crop in the ground, in the hope that conditions will be favourable and he will turn a good profit.
In contrast, said David, the biggest risk an agent takes is to pick up the phone and try to start a relationship. Prospecting is made up of tiny risks that are well worth taking.
For more sales wisdom or to get in contact with David James, visit his website at djsalescoach.com.au.