The 4 Things You Must Know About Sales
Whether you are a real estate agent, loan officer, escrow officer, home inspector, dentist, chiropractor, house painter or whatever.
You have a sales department, whether you like it or not. If you focus on your given craft, you will own a job, don’t get me wrong, it can be a very good job.
If you focus on the sales portion you will own a business. This is not an excuse to shun your product or service quality. Most providers shun the sales part, let's face it, it is not always fun.
Your most important functions are
1. Lead Generation
It can be many things. Cold calling, Direct Mail, Internet, SOI. The important thing is to do something and do it well. Once you have identified someone that is moving, I believe they must be able to answer these three questions. Why, When, and Where? With why being the most important.
2. Lead Follow Up
In my not so humble opinion, this is the most untaught, unused tool in a sales system. It is more than calling someone and saying when do you plan to sell your home, walk in and list the home. People have many phases of information gathering once their decision to move has been made. The key is that they have made a decision to do so, then massive follow up is required. One of the struggles we tend to get in this area is, we know the process and we want to shortcut it. However the client needs to go through the process of learning for themselves.
This can be a listing appointment, a showing appointment, a loan application, a bid... It is critical to get face to face. Especially the large ticket items. It shows their motivation, people don’t invite a salesperson to their table because they lack something to do. According to the National Association of Realtors 2/3rds of buyers and sellers interview one agent. Hmmm, your goal is the appointment, more appointments will dramatically increase your business, even if you suck at presenting.
4. Negotiate Contracts
This is a skill that requires your ability to understand when people are wigging out and to know what they need more than what they want. You need to keep them focused and on track, there will be a myriad of things that will come up, keep them focused on the task and always remember what is important to them and look out for them. Sometimes the client gets in their own way, to me this is the real skill.
While these are the most important things. The rest is necessary and must get done, but when you control these four, you control the business. The other necessary stuff can be leveraged out, chasing initials, scheduling inspections...