How to be Different

How to be Different

The best way to top your competition is to forget about them. This Coaching Tip is about differentiation, and I’ll be showing you how the path to rapid business growth is through focusing on what your customers want, not how big your competitor’s signboards are. Too many agents are working hard to try to top each other, usually winning listings by setting a lower fee. All that time and energy would be better spent in getting to know what your customers really want from you, and demonstrating your expertise in handling their property sale or purchase. Working with clients around…

Market Appraisal vs Listing Presentation

Market Appraisal vs Listing Presentation

A market appraisal is not a listing presentation, and if you make the mistake of treating it as such you will drive customers away. However, done properly the market appraisal leads directly into a listing and sale. Often the first step to building a lasting relationship with a client is a market appraisal on their property, but you need to understand their concerns around selling their home. They have real fears as to where to relocate, whether the price they get for their home will be enough, renovations before they can sell, and possibly securing employment in a new place….

Fee Defence

Fee Defence

Setting your fee is one of your most basic decisions for your business, and is often the hardest. This task is complicated further when your competition includes fee discounters. Clients will often ask you why you charge more than another agent they have spoken with. You need to be clear about why you charge the fee you do, and what your services are truly worth. You justify a higher fee than other agents by providing a level of service that is demonstrably better. If the customer can’t see a difference between you and your competition then they won’t be willing…

Becoming a great Lister

Becoming a great Lister

A lot of agents like to have a structured listing presentation that they can step through without having to think about it. However, the point of the listing presentation is to communicate with your clients about what you will do for their unique needs that your competition won’t. They need to know how marketing, pricing, sale method, timing and fee delivery will apply to them, so your delivery needs to change to fit each individual client’s situation. After evaluating hundreds of listing presentations we have identified some fundamental yet powerful techniques you can employ to ensure your process will be…

The Pitch

The Pitch

What it takes to be a great lister in real estate is the ability to focus on your client’s needs and fears, and to resolve those issues for them. You address these concerns during your listing presentation, and you take as much or as little time as is necessary to do so. Your most important task is to make sure your client is comfortable with you, and with your explanations of the process you will follow together to sell or buy their property. During your listing presentation you want your clients to feel secure in your ability to see them…

Dealing Naturally with Objections

Dealing Naturally with Objections

You know that objections are simply part of the sales negotiation process. But do you know how to handle them? It helps to realize that objections are natural whether you are working with buyers, tenants, landlords or sellers. They occur because the client has questions and concerns about the sales process and the outcomes that follow. Your job is to make them feel comfortable, confident and informed, and that they will get a better deal with you than they would elsewhere. There is an effective conversational technique we use called the Why/If I/Will You/Why technique. Objections usually arise over your…

The Importance of Market Knowledge

The Importance of Market Knowledge

One thing that will really set you apart from other agents is your level of market knowledge. No one knows more about this than Shannon Whitney of BresicWhitney. Shannon says, in order to be a great agent you need to go through as many of your competitors’ open for inspections as you possibly can. This is the best way to know what is selling in your market and for what prices. This is also the best way to learn the details of properties that add value for buyers, such as the view from a top floor vs. a bottom floor,…

Let's get controversial…

Let's get controversial…

Negotiating fees with clients is a necessary part of your business. It is much easier to set your fees and justify them if you are confident of your worth. Ask yourself what you are doing relative to your competition that sets you apart as a client’s best choice. What are you worth in your marketplace, and why? You should know how your competitors set their fees, how market regions differ, and how much some of your competition may be undercutting you. How is it that some agents may charge as much as 4% on a sale, while others charge as…

They won't buy it if they don't know it's there

They won't buy it if they don't know it's there

It is important to know what marketing means to you, because your own beliefs about marketing will determine how effective it is for you and your clients. If nothing else, you should understand the vital role marketing plays in selling properties, and how that works. At the core, it really is pretty simple. Marketing is really all about making buyers aware that your property offerings exist. They won’t buy it if they don’t know it’s there. It just doesn’t get any more basic than that. And in order to make sure your marketing is seen by as many potential buyers…

The key elements for a successful auction

The key elements for a successful auction

Selling by auction can be stressful, but there are several things you can do before auction day to alleviate some of the stress. Mostly you want to make sure your buyers will be fully prepared to bid and buy property. Having buyers who are qualified and confident will help assure that properties receive the very best sell price possible. Communication with your buyers and sellers is vitally important, and you need to dialog with them well before the auction. You can help buyers decide how much to bid by making current pricing information available to them. In many states and…