Sales coach David James had some first-rate pointers for real estate agents when he spoke at our Sales Seminar on Thursday 17th May.
David James is a super coach and one of my early mentors in real estate – so I leapt at the chance to have him hold a free seminar at Residential Settlements, with around 20 real estate agents from around Perth.
David’s closing point was “You are yet to have your best month!”, and this encapsulated the whole tone of the event. In the seminar, David emphasised that real estate is a great industry because you are in control of how much money you make. While we may blame our ups and downs on the state of the property market, ultimately it’s up to us to adjust and press on.
David had some killer tips for being successful at sales, no matter where the market is at. What follows are the most valuable:
1. Think long-term
The mining companies enjoying the current resources boom didn’t spring up yesterday. They spent money prospecting and setting themselves up for success in the long term. When demand for resources went up, they were ready.
Likewise, real estate is a long-term game. If the market spikes and buyers start buying in droves, you won’t benefit unless you have listings. If you build your listings by prospecting in advance, you’re setting yourself up for success later.
2. Manage your cash flow
With around 4 months between listing and collecting your commission, how much money you have in September depends on how many properties you list today. Be prepared to skimp on groceries later if you’re not prepared to do the hard work now!
What’s more, when you’ve made sales and have plenty of pre-sale work to do, don’t forget to keep prospecting! It’s too easy to get caught up managing termite inspections and the like, to find yourself with no listings and no potential sales later.
3. Take pride
David explained that one of his clients puts his logo – his initials – on every slide in his listing presentation. It’s a reminder to himself that he is personally invested in securing each and every listing.
By taking pride in who you are and what you offer, you won’t succumb to the seller’s point that “the other agent offered to do it for only $x”. Without shouldering responsibility for what happens at listing presentations, it’s too easy to blame the vendor when they choose another agent.
4. Differentiate yourself
Competing is too hard, said David. Doing the same things everyone else is doing will only get you what everyone else is getting. Instead, differentiate yourself by going beyond, and doing things that other people are forgetting.
Here’s an example he gave. Every agent has scripts and a listing presentation for appraisals. In other words, they know well what to do during appraisals. To go one better, you need to take on the tasks that other agents don’t have down-pat – ie. the things you can do before (eg. calling ahead) and after you do appraisals (eg. following up).
By taking control of your brand, how many listings you take, and your cash flow, you ensure that you are yet to have your best month.
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