There are three critical skills you need to have a handle on inside your business: Prospecting, finding and winning potential sellers, and selling the properties. It is important for you to do an audit of your business in order to discover the critical components you have in place, and identify those you need to cultivate.
The details that are covered by prospecting for sellers, selling yourself to your customers, and delivering a successful presentation are interconnected and dependent on each other to make the whole process work. Included in the mix are buyer work, vendor work, leverage, understanding your financials – not to mention building in time for yourself!
You need to know what your lead sources are and how to work them, and have a source for potential sellers that you can bring to the marketplace.
You also need to be able to communicate with customers about fees, marketing, pricing, terms, and method of sale. You have to make the initial contact and talk with the vendor before meeting with them. When you arrive at the property you will discuss why they are selling and what their personal needs are, pitch to those needs, then cover marketing and the selling method, discuss pricing the property, discuss your fees, and then close with the customer comfortably. All the while you must sell yourself and your brand.
One of the best ways for you to approach your business audit is to have a quiet, thoughtful look at all of the skills you know you have inside your business right now. When you have that picture, then you can think about areas where you need to spend time to improve your performance in the marketplace. For example, if your listing presentation needs work then you have to bring that up to par so that you can prospect more. And you will prospect more once you are confident that you can win that business with your listing presentation.
We hope you’ve enjoyed today’s coaching tip, and look forward to seeing you here again next week.