Sales skills
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Does your agernt have what it takes?
Dont let them blow it for you.

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Sales skills Sales skills Document Transcript

  • Sales skills-This is what we doThe difference between a good and a bad agent can mean 10% of the salepriceGetting " Inside a real estate sale.There are 4 parts to a salespersons rolePrepare, tell, show and negotiate. The telling part includes mediaadvertising, but is probably 8% of marketing the home itself. Allot of thetelling part is calling, emailing existing clients and web exposure etc.Sometimes we need to tell the buyers 2 or 3 times. Therefore 92% of thework in getting a price and a result can be in all the sales skills involved. Forinstance we have about 30 seconds when the phone rings to instill enoughconfidence to create an appointment to actually view the home.The best agents will do more than just place an ad in the paper and put asign on the fence. It is also about what the say and how they behave on yourbehalfAdvertising can hide allot of deficiencies of the agents abilitiesOtherwise advertising is just hiding the fact that the property is not beingworked on well, by the right agent.Once you know that these following tasks will be done, then ask your agentabout advertising.
  • The walk through –showing the homeThis is what we doThe walk through -showing the homeWe are pleased that you are open to the possibility of us representing youand appreciate the opportunity to do so, Showing the home is not a lightmatter! 1. Get the agent to demonstrate a walk through. 2. What is the best door to enter by? 3. What is the best time of day to show the home?We have seen experienced agents take the same buyer through a home thatthe buyer has previously discounted and sold them the same home. Thebuyers loved it too. They just needed to be shown it correctly.Can your agent get a close; can your agent sell the home?Get then to show you how they do it! And are they defending your price aswell as closing?Buyers do want to buy (otherwise they wouldnt be looking) A good agent canbe the difference in 10% of the sale price and get a close and show the houseto its best light.You cant tell us too much about the homeWe use the Vendor Questionnaire that we ask you to complete to help ussell the home at the .Selling the home is more than just saying it is 3 or 4 bedrooms.Its all about what you can do there, whether it suits the buyers needs andwhether they are interested enough to offer a price to “own" it. It may alsomean whether the buyer sees" extra value for them i.e. a 3rd garage thatmay convert to a sleep out or the property is close to the right school forthem
  • Vendor Questionnaire1.We need you to think back to when you originally purchased theproperty. a. What influenced you to buy the property? b. What plans did you have for the home? c. What advantages are there in living in this neighbourhood?2.When family or friends visit, what do they point out as benefits of yourhome?3. What are the top 5 benefits of your home?(a)___________________________________________________________________(b)___________________________________________________________________(c)___________________________________________________________________(d)___________________________________________________________________(e)___________________________________________________________________4. Any additional comments you care to make Address of Property _________________________________________________
  • How will the agent defend your price?How will your agent defend your price?We wont "knock it down . Statistics will show in this market, high volumesellers are also low value sellers. They need to sell allot and to do that;generally prices are hit.The fact simply is you cannot secure a good price to someone who doesntwant your home or investment, so the main key is to find someone whowants it first. We pride ourselves on the systems we use to do thisTargeting the right buyer for your home and ensuring our sales words andscripts do not affect your price.Wouldnt you love to be a fly on the wall sometimes when agents arespeaking?We will speak as though you are in the room too! We won’t force you to rush a negotiation. We wont force you to respond to an offer , when we know another one is coming, agents who do this , do so; so that their buyers get the home. We won’t acknowledge or agree on a buyer’s price to the buyer, knowing that you want a higher price. We wont side on the buyer’s side. We won’t tell the buyer what to pay; we will get them to pay as much as they think they can. If this means more than you want, we hope that is okay. We wont be attacking your price, just giving you truthful responses to the marketplace. We pride ourselves in our approach to defend your price in a soft market.
  • Attracting the emotional buyerGETTING YOU THE BEST PRICE. 1. You have a better chance of achieving a PREMIUM PRICE for your home of you offer it for sale using a “no price” marketing method of sale and attracting an emotional buyer 2. When you take the price off your home, potential buyers can only judge your home by its features and benefits, not the price tag
  • Defending your price comesfrom Pricing it accurately to start with and that usually comes form the sales Method. Century 21 specialize in the EXPRESS sale method, Unique to Century 21 Focusing on existing buyers already, we mean once it is listed on the web a date is published; buyers know how long the property has been for sale and will put an offer in accordingly. It is lazy to simply place the property on the internet and wait; it WILL AFFECT your price! We approach our existing clients by email and phone first and spend a considerable amount of time doing this. We co-opt other agencies to sell the home as well. It is also lazy to place a sign on the fence and wait, many buyers will buy close to where they live, invest or own already, so we phone the neighbors too. Have you heard of investment neighbors buying a property 3 months after it is listed, at a discount, the time delay forced the owners to accept a discount. We do not just place a sign on the fence and wait for that time delay! We are proactive Some commentators state that as soon as a property hits the web it means that the agent cannot sell it, otherwise they would have already sold it to their existing database!Creating competition andstimulating multiple offers One of the hardest things for us is dealing with buyers who miss out on property. In many instances we have multiple offers. This situation requires careful handling. The biggest risk is that another buyer may turn up at a later date that would have paid more. We have systems in place to manage this and a cohesive, cooperative team who work for you, the owner, to get the best price. It can take weeks for the market to get to know that your property is for sale and for buyers to view the home. We do not wish to rush it. Stories of property selling in the first day of going on the market can be disturbing for us. The offer needs to be absolutely startling to be accepted immediately. You may wish to accept the offer though, if another sale rides on it and it is contingent on the sale. We frequently hear about buyers turning up prepared to pay more for a property than the amount already accepted. When a property sells at asking price or above, it indicates to us that the marketing was not done correctly. Effective use of skilled negotiating while stimulating competition needs to be in the culture of the Company.
  • How we find the right buyersFor Your Home"How To" Promote Your PropertyWhat advertising works best and where to advertise?Who is most likely to buy the property?Where are they and therefore where do we advertise to find them?A targeted approach This is where we take great pride in our approach. We can advertise anywhere and anyway. We can do anything that other agencies are offering. We have great flexibility in our marketing plans, they are not cardboard cutouts. What we do is create an individual campaign in consultation with yourself to gain maximum impact with the least expense. The "standard" campaign that we have has been developed from what works best. Markets change and price trends move. In keeping therefore, we are constantly adjusting our approach to achieve a top sales result for you. We have some uniquely distinctive e-news groups and no one else has them.
  • Fine Homes and Estates-Black market- Confidential listingStrong buyers are in the marketplace for the right quality propertyWe are finding an undercurrent of buyers in the marketplace. A black market of buyers so tospeak, buyers who want the top shelf Johnny Walker series ofproperty. They call and to ask what we have for sale, if we can steer them to a quality property,then they buy it. Buyers turn up to our offices from all over the world asking to buy homes, andwe never quiet know when they are going to turn up. Even local buyers often seek that exquisitehome. And we cannot sell it unless we are aware it is availableWe have sold numerous properties like this over the years and are finding in this market that again it is becoming thestrongest way to sell, high class homes.Dont get us wrong we do believe in advertising, we have done enough advertising to capture the floating buyers (as theytend to call or email 1 to 5 agents anyway to find what they want). But our network may extend perhaps further a field thanyou may expect.Our "reach". Is large. It is possible that this method possibly achieve a better price , today, in todays market with thisapproach, buyers like to know they are getting something special, that perhaps others dont know about. Being told theproperty is for sale before it is, if they like it, can assist buyers become more enthused, keen or excited or anxious to secureit before it is “publically “listed. We still take photos and provide a report and detail is held on computer for our seriousbuyers. The Black Market Johnny walker label is held behind the counter, it isnt on the front shelves, and a vintage car isntin the car lot.If we think you should advertise we will tell you, if we think your property should be with someone else we will tell you too.Some business people like the anonymity. Others say just bring me a buyer, I dont want to go through all the pellagra orrigmarole. Others just need or want to keep thing confidentialWe do have buyers looking for property; maybe its your one
  • Investment buyersWe manage property investments and send regular property quotes out to our landlord databaseCan’t sell then how about renting it for 6monthsMarkets change and new buyers enter the market every 5 weeks or so . Perhaps the time isnot right for you to sell in this present time , but you need to pay the mortgage , then letsrent the property ! Selling with tenants means that the property has furniture in , is keptclean and has the lived in feel. As well as providing a measure of security. Your insurancecompany needs to be alerted if you choose to rent.We also recognize this , when we manage the property and give a discounted sales commission when we sell at a later time .We look after our property managed clientsSections, Builders and developersBuilders and developers We do projects- subdivisions-and house section packages. And have a regularnewsletter that alerts these buyers to vacant land lots or potential subdivisions
  • Sales Processes _ not spoken about much -agents usually try to make you believe its all about advertising.Some of it is. Advertising can hide allot. What do you get when you choose me to sell your property? Processes designed to maximize your net price. Not spoken about much is it , but we believe the difference between a good and a bad agent will cost you 10%, in fact Best Practice Australia suggests it could be as high as 15%. The difference is in the processes as well as the agent. If all the agent relies on is adverting (using your money to do it) then at every step of the way you maybe losing a better net result. Often people will not even realize that if things were done differently then they could get a better result, it’s all very intangible and hard to measure but at every step of the way there is a chance that you could be losing money and not even knowing it! Advertising is important but it can hide allot of other things if things are being done badly or not even considered and discussed.Experience, Knowledge, Enthusiasm, Attitude , Systems support Plus
  • 1. Get the right buyers to your home - by targeting the ads in wording and media or internet placement to the right buyers. The ad needs to be effective in its task to appeal to the best buyer that will buy the home. When the buyer reads the ad, it needs to just jump off the page or computer screen and scream this is the home for me. The best looking group of photos sets , is an ego boost yes and will get the next clients looking at the agent to list with yes , But is it selling the house !!2. Showing the home in its best light - The walk through. This is where selling begins; Get your agent to demonstrate a walk through with you.3. Knowing the property, market and potential - This information gathering is important, you cannot tell the agent too much. It’s about what can you do here? Not what it is. If by what it is, it allows you to do what you want them great. If the agent isnt asking enough, then are they really looking at the properties best and highest value and usage. The highest value could be the potential to open out a wall and create an outdoor living space; it could be something drastic like subdivision or being able to convert the attached garage into a 4th bedroom and rebuilding a garage, thereby putting the property into a different buying price range, EVEN if you do not do the work yourself. A stable, spa, glass house all ad value, but only to someone who wants those things. So we have to find the buyer who does want it or add value , For instance a stable could covert to a truck shed ( we have sold a home this way ) It was just off a main road , normally a deterrent , but to someone with a $250,000 Truck its ideal.
  • 4. ask the agent if Database buyers, email and phone enquiries they are only going to reply on open homes to sell the property ; if they are they are waiting for the buyers to come to them. A good agent is proactive and seeks out buyers for your home. As an example I send out emails weekly to our client base, one couple had given up looking for what they wanted, they saw an ad on his work computer for a property that we were having a mini open home on the Friday lunchtime. When he came to the front door, before he had even looked at it he said “Thanks Tim this is just what we are looking for can I say.. If this couple hadnt turned up, we probably would not have achieved the price we did. This client had been in my client list for 5 years. When dealing with people over this protracted length of time as salespeople we have scripts that open the door to allow us to keep in touch. I find after even only a short time maybe even only 2-3 months I will be the only person still talking to these buyers. And after 5 years or so I have a large buyer client base that no one else is in communication with, It is one of the reasons I sell allot of property that has been for sale with other agencies prior. It is not the only reason, but one of them. Each of these components in the sale all contribute to whether you get a good price – the the 10% that we talk about. I hold some unique client lists, We distribute a unique builders quote at least monthly and run rent roles so I have a large number of landlord investors seeking property, I also have a large list of lifestyle enquiries too, this is an interesting group as only 1:20 actually buy in the country, the balance end up looking in town; So in an odd way we end up with a large town buyer database as well. Our database has a cross over that few other companies have , as I work that database as the Principal rather than relying on competing agents in the same office to share one5. Closing- This is instinctive and a skill, you want to make sure your agent has got it , get them to demonstrate6. Negotiating- This is where the agent really defends your price, And an area where the general public never really get to see, It is often intangible, its hard to say afterwards as an agent " because I said or did this or stood this way or used a bit of silence or smiled at the right time then you got an extra $2,000, $10,000 , its not something that gets spoken much about. The public may judge an agent on the quality of the colour ads in the paper and not the performance surrounding their processes. Good agent are always analyzing this though and are reading, listening to tapes and going to seminars to study scripts, conversations, sales dialogues and the sales process. The negotiation actually starts from the first conversation you have with the buyer, and at all times the agent needs to be mindful of defending your price, one wrong thing said or done through the whole sale process can affect your price!
  • All of these factors can affect your price Sales persons not defending your price- Wouldnt you love to be a fly on the wall sometimes? Agents not co-opting colleagues to assist selling - no one is dealing with 100,000 people at once. A good agent to list with is one who encourages their colleagues to sell your home. If all you see is the listing agent at the open homes, then they are not being proactive and bringing buyers by appointment, do they not have a database of qualified buyers? If an agent has all the signs up in the area, then they will get calls, they are able to sell the “cheapest" home in that area. And in order for you to sell, you have to actually compete with the other homes for sale, how you compete; you have to lower your price. A sign of this is when the same agent is adverting must sell, have to sell , significantly reduced price etc Having 30 homes for sale, means the company sells six. A better approach finds the agent who has six and sells six. Not having scripts and dialogues to defend the price, and gain a top net result, a well trained agent that can do that. No being able to close the sale, a salesperson is a salesperson. Has your agent any experience in sales? The salesperson not knowing the product, you cannot tell the agent too much, there may be something that they can use at the right time to emphasis the value of the home to the buyer. Instinctive timing and knowing when to say and do the right things at the right time, will effect your price, experience and natural real estate sales ability is what you want. You want the 80:20 agent. 20% of agents sell 80% of homes Having targeted ads that draw out the best buyer , there is no point bringing 20 wrong buyers to your home , we want 2-3 of the right buyers who will compete for it Taking good photographs Writing good ads Agents not conducting themselves in a professional manner, people want to be sold your home, they want to know the benefits and the reasons they should buy. They want to be sold, not forced.Match the media to where the buyers are Sounds simple - doesnt it Not what makes the company or agent look good The Media mix and marketing and budget should match where the buyers come from, do 50% of buyers come form the web or the paper? Or both?Fast talking is not sellingNot listening is not selling