Handling Objections

What do you do when someone gives you an objection to listing with you, or signing the contract to buy a home?

Having been in the business for almost 20 years, and consistently selling an average of 110 homes year, coaching agents across the United States and co-writing the book, Now What Do I Say, a collection of over 425 answers to over 70 of the most common questions and objections that we face in real estate, I’ve learned many things.

I want to share some tips to powerfully handling objections with you now.  My intention is that these tips will help you to flow effortless through the objections and get more contracts signed while taking excellent care of your customers and clients.

Accept and acknowledge what your client has going on.  Tell them you understand, you would feel the same way, of course they would ask that.  THEN answer their question.  Getting on their side first, and allowing for their objection tells the client that you actually care about how they feel.  Zig Ziglar said it best, “no one cares how much you know, until they know how much you care”.  Care for your client first and the paycheck comes as a result.

We all know there aren’t any NEW objections.  I mean lets face it, there are only so many that the consumer has.  The key to powerfully being able to handle the objection is to have scripted, well rehersed answers.  If a client asks you a question and you are like a deer in headlights vs. confidently and smoothly answering their question, this can make the difference in a deal or not for you.

Professionals of all walks and kinds practice, role play, study, and internalize their profession.  As professional sales people handling most individual’s largest investment, don’t you think we should treat our business just as important as the doctors, lawyers, athletes, pilots, politicians, and performers?  I certainly do!

Practice being quiet after you handle the objection.  In so many cases we get nervous and feel we need to be talking to get the deal closed.  Sometimes silence is exactly what the client needs to make the decision to sign the contract.  The less talking you do in many cases the better off you’ll be.

Learn to read your client.  Are they someone who likes to have other’s opinions and to talk about things.  Or are they someone who likes statistics and numbers and information to make a decision.  Or, are they someone who likes to go inside themselves to make the right decision.

Honor how the client likes to make decisions and assist them in the way that works for them.  If you aren’t sure, consider asking them.  “So, when you have a big decision to make, do you like to get other’s opinon, do you like information to review, or do you prefer to take time to think it over?”  The more questions you ask and the more you learn what your client needs, the better you can assist them.

Take a moment sometimes before you respond.  Don’t give knee jerk reactions to their questions and objections.  A 15 second pause shows the client you are absorbing thier concern and what they’ve asked.

Consider typing up a list of commonly asked questions about buying or selling a home with the answers, and give this to your client up front.  Tell them, here’s a list of some commonly asked questions about selling/buying with the answers, and I wanted to share this with you.  I give this to all my clients and have found that it automatically takes care of their objections in many cases, and after reading it they simply sign the contract.

Don’t allow the questions and objections to create fear and resistance.  This is simply a normal part of the process.  Notice yourself when you are making a purchase.  Do you ask questions and have objections even though you have the full intention to buy?  It’s human nature to objection and ask questions when we are in a sales situation.  Don’t overcomplicate the process.  Breathe deeply, accept and allow for them and handle them appropriately.

Guys, if you haven’t already purchased a copy of our book, Now What Do I Say, I invite you to visit our website at www.yourethedifference.com to get your copy.  Again, it offers over 425 answers to over 70 of the most common questions and objections that we face.  This will simply keep you from having to come up with your own answers.

And, I want to tell you about something really exciting that we are doing right now.  It’s a forum called The Role Play Connection.  Myself, my partner and co-author, Scott Friedman, and other top agents across the US are meeting weekly for 30 minutes to practice, role play, mastermind, and brainstorm the entire real estate business.  We’ll discuss all the questions, objections, scenarios and situations that come up and sharpen our skills together so we can be at the top of game and do more business!

The cost to join us is only $29 per month and this gives you access to all 4 calls each month!  There are no contracts and you can cancel at anytime.  For $1 a day, surely I don’t have to tell you what an amazing opportunity this is.  Simply email us at info@yourethedifference.com or call us at 609-601-1296 if you would like to participate with us!

This run of the Forum is on Tuesdays from 3:00-3:30 EST and you can join in at anytime.

Hope you are on track to Making 2009 YOUR Year!

Christy

Practice Like The Pros Do

As the market is finally beginning to pick up again, surely you realize the importance of being at the top of your game.

Having the right answers to all the questions and objections that the clients continue to give you is more critical now than ever before.

Studies have shown that how an agent responds to these continuous questions can be the determining factor in which agent the client chooses to work with, and whether you'll get the deal or not.

Before I share a few objection handlers that I think you'll find helpful, I want to make sure you know what we're up to next week. On Tuesday, April 7th we will begin The Role Play Connection.

This is a forum of top agents across the US, myself, and my partner, Scott Friedman. We will meet for 30 minutes each week to discuss, brainstorm, and practice answering all the questions, objections, and situations that are coming up right now in the real estate business.

The cost to join us is on $29 per month and this gives you access to all 4 calls! Undoubtedly you can see what a tremendous value this is without me even telling you more.

Come on, for less than a $1.00 a day you can practice like the pros do, and be on the way to becoming a sales athlete! I like to think of myself as that.

There is no way I could even begin to sell an average of 110 homes year after year if I didn't practice as hard as I play. I like to compare myself to professional athletes, performers, artists, top entrepreneurs, and all those people who believe it takes a strong desire, commitment, and practice, to truly make it to the top.

Simply email us at info@yourethedifference.com to join us. Again, it's only $29 a month for four 30 minute calls a month. There are no contracts and you can cancel at anytime.

This run of The Role Play Connection will be on Tuesdays from 3:00 to 3:30 EST beginning April 7th.

Okay, here are a few objection handlers that I hope will allow you to do more business.....

So, you get a sign call on one of your listings and try to pull them in when they tell you it doesn’t work for them and they say, thanks for the offer but we just want to look at properties with the listing agents.

Naturally you want to look with the listing agents.  That’s because you feel you’ll get a better deal that way, don’t you?  May I share what’s actually happening?  You are leaving yourself unprotected and vulnerable to one of the largest investments you’ll ever make.

See, the listing agent is actually working for, and representing the seller looking to get them the most money possible while you’re left with no one to negotiate for and protect your interests.  The seller has already agreed to pay a certain commission which actually covers our fee.  Since it’s free to you, doesn’t it make sense to allow me to help you through the process?

You’re working with a seller and the home isn’t selling, they say if it doesn’t sell, we’ll just rent it.

I understand, and do you really want to be a landlord?  I know it’s frustrating right now, and can you imagine the frustration of chasing down a tenant for late rent, month after month, getting repair calls all the time, and just generally being chained to this house for a year at a time?  Don’t you just want to go ahead and get the home sold?

Stay tuned for more objection handlers and be sure to join us for The Role Play Connection!

Objection Handling Secrets on sale…and more!

Just a quick reminder to check out our products page, so you can save 25% off of our training products through March 31st.  That’s the Now What Do I Say? objection handling line (book, ebook, audio book, live role play CD), as well as our affirmations and scripts CD.

All 25% off through March 31st!

If you don’t have some version of Now What Do I Say?, which has been featured in Realtor Online Magazine, Re/Max Mainstreet Online, and is being carried by multiple Boards of Realtors across the United States, then click here to make your purchase for 25% off.

Learn secrets to objection handling, learn objection handlers, learn what to say and how to say it…so you can do more deals!!

Click here to save 25%!

AND, don’t forget the Role Play Connection is starting a new round on Tuesday, April 7th at 12pm PT / 3pm ET.

For only $29 a month, you get one 30 minute call a week, led by my partner Christy Crouch and myself, where you can practice with us and other top agents.

For just a buck a day, you’ll get so much information and practice, you’re bound to shoot your production up in a very short time.

Simply email info@yourethedifference.com to sign up.

Make 2009 YOUR Year!

Focus On Your Client’s Needs

Despite the fact that we can all use more deals and more commission checks right now, it’s time to focus more on our clients needs than ever before.  While agents are dropping out of the business faster than homes are selling, the top agents are sharpening their skills, focusing more intently, and looking at how they can improve their overall service to their clients.

After being in this business for almost 20 years as a salesperson, and a coach, consistently selling an average of 110 homes a year, and still being in the business in the midst of these most challenging times, I have learned many things.   I want to share some of those with you now in hopes that you will pick up a few good ideas that you can use right away to do more deals, and more importantly to take better care of your customers and clients.

If you’re one who reads my articles and blogs, then you know I love to make points that are easy to read and digest.  I’m going to do that format again here.  These are the top ten ideas that I have learned, and coach my agents on, with how to put your clients needs first and win everytime.

1.  If you want to build customers for life and get referrals consistently from your past clients, do the best job possible the FIRST time around.  Actually tell them in the beginning that your goal is to create customers for life.  Tell them you would like to take on that challenge with them.  Ask them to communicate with you along the way, If there is anything they feel you should be doing better or different to satisfy thier needs.  Ask for open lines of communication during your time together.

2.  Ask them to give you a list of their expectations of you as their agent, so you can be sure to meet them.

3.  Always under promise and over deliver

4.  Give your clients information.  They can never have enough information.  The more you give them the less they’ll call you and wonder what you’re doing to get the home sold or find them the right home.  Provide them with market statistics, especially right now.  Let them know how many homes are for sale, what’s the average price range that’s selling, whats the average time a home is on the market, what’s the average list to sale price ratio.  Giving them information proves you know your business, and that you are genuinely interested in taking great care of and educating them along the way.

5.  Ask questions.  Ask questions.  And ask more questions.  The more questions you ask the better you can help them.  Here are a few quick ideas:

FOR SELLERS

What are your plans once we get the home sold?

How soon are you looking to get the home sold?

What’s most important to you, getting the most money or getting the home sold in a reasonable time frame?

How much do you owe on the property so that I can prepare a net sheet for you showing what you’ll walk away with after all expenses?

What do you expect from me while we’re working together to get your home sold?

FOR BUYERS

What’s most important to you in buying a home?

What time frame are you looking to be in your new home?

Have you interviewed a couple different lenders to get the best interest rate and closing costs package that you can?

What questions do you have about the home buying process that I can answer for you?

What are you looking for in a home?

What ares are you interested in?

What are your expectations of me as your agent, while we’re working together to find you your perfect home?

Simple, and obvious questions we should always be asking, yes!  But the question is, are you asking them every time?

6.  Be in communication with your buyers and sellers no less than once a week.  Just touch base, say hello, see if they need you.  Update them on what you’re doing to sell their home or find them the right home.

7.  Send your sellers copies of all advertising that you’re doing so they can see exactly what is being done to sell their home.

8.  Email buyers daily with new listings until you find the right home for them.  Doing this daily shows them that you are truly on top of the market and dedicated to finding them the best house at the best price.

9.  Be contribution based and not self absorbed.  Put your paycheck needs, your opinions, your self totally aside and simply “BE” with your client and their needs.

10. Align with your client in all cases.  Acknowledge their objections, and needs.  Say things to them before you respond with an answer like:

I understand how you feel, I would feel the same way, that makes sense, why of course you would ask that, that’s a great question.  And then move forward with your response AFTER you make the client feel accepted and comfortable.

So, hopefully this is some information you can put to use right away toward taking excellent care of your customers and clients and creating customers for life.

I like to view all my clients with the letters MMFI on their forehead, Make Me Feel Important.  Acceptance is one of the most important human needs.  Accept your clients and their needs!

I want to mention two things we have to offer you right now.  First, we are offering 25% off on all our products through the end of March.  So please visit our products page on our website at www.yourethedifference.com.

If you don’t already have a copy of our book, Now What Do I Say?, This is a great product that offers over 425 answers to over 70 of the most common questions and objections that we face in the real estate business every day.

We offer this in published form, E book form, and on a 3 CD audio form, which is the best bet.  With this you not only get to hear WHAT, to say but you also get to hear HOW to say it.  Three are three authors of the book, myself, Scott Friedman, and Donna Fleetwood.  For each of the 70 objections you get to hear at least three different ways of handling it, with three different personalities.  Listen to this and never be at a loss for words when faced with any question or objection in your business.

And second, if you are looking to sharpen your skills, meet with other top agents who are looking to be the best of the best, role play, practice, mastermind and brainstorm together, then join us for The Role Play Connection.  Myself and my partner, Scott Friedman, will lead it up, and it will be a truly power packed 30 minute call each week.

The Role Play Connection begins on Tuesday April 7th from 3:00-3:30 EST.  We will meet every week, same time, and the cost is only $29 per month.  We normally charge $49 for this forum.  Scott and I put our heads together and wanted to drop it to rock bottom in light of the current economic situation so we could make it as affordable for you as possible to be come the best of the best!

Guys, thats like a $1.00 a day to invest in yourself.  Even without thinking, you know you shouldn’t turn down such an amazing opportunity, don’t you?  I’m not going to hard sell you on this.  You’ll decide all on your own whether spending a $1.00 a day to sharpen your skills, improve your game, and connect with other top agents from around the US is worth it.

Simply email us at info@yourethedifference.com, or call us at 609-601-1296 if you want to come hang out with us at The Role Play Connection.   And by the way, if you miss the first call it’s no big deal.  This is an ongoing forum and you can join us at anytime.  There are no contracts, it’s simply $29 a month until you decide you want to quit.

Hope you are on track toward Making 2009 YOUR Year!

Christy

The Role Play Connection

Often my coaching clients and other agents ask me how my sales skills and communications sound so natural and effortless.  The answer is simple and something that every agent can do to become a powerful communicator inside real estate sales, PRACTICE.

For literally the last 18 years I have immersed myself daily in learning, practicing, and role playing my scripts, job and presentation.  I chose to do this because my goal was to become a SALES PROFESSIONAL.  Actually, I often use the term, Sales Athlete to describe myself.

Now, I cannot think of any true professional on this planet that got to be any type of superstar, true athlete, performer, speaker, business owner, etc. without countless hours of practice.

My question to you is, how often do you practice what you do inside of this real estate business every single day?  Do you believe your clients think they are hiring a professional who knows all the ends and outs of this business and can strongly represent them?  My bet is they absolutely do!

With this business ever changing and the consumers knowledge being more now than ever before, as the professional being paid THOUSANDS of dollars, you best show up like a well dressed, sharp, knowledgeable salesperson that can clearly, and powerfully communicate with them.

Knowing the answers to all the client’s possible questions and answers, and being well versed in what to say and how to say it is critical in this business.

If you haven’t already purchased a copy of our book, Now What Do I Say? (a collection of over 425 answers to over 70 of the most common questions and objections that we face in real estate each day) please visit our website at www.yourethedifference.com to purchase your copy while we are offering 25% off for the remainder of the month.

If you are interested in joining myself, my partner and co-author, Scott Friedman, and other top agents looking to be the best by practicing, role playing, and masterminding then please email us at info@yourethedifference.com to come to The Role Play Connection.

This meeting will take place each week on Tuesdays from 3:00-3:30 EST beginning April 7th and is only $29 a month!

Yes, only $29 a month for FOUR calls a month with myself, a 100 deal a year agent who is STILL in the business with you chartering these rough waters of today’s market, and my partner, Scott Friedman plus other top agents!

Surely you can see the value of this, and I’m not even going to attempt to “SELL” you on it.  You’ll decide all on your own when you’re ready to take your business to the next level and practice like a professional athlete does!

Hope you are on track to Making 2009 YOUR year!

What happened to our brains?

As I watch my sixteen month old daughter, Samantha, get totally enthralled, possibly tranced out, by Dora the Explorer, Go Diego Go!, Bob the Builder, and Elmo, I wonder what happens to our brains as we get older.

Samantha has very few words in her vocabulary, like “mama,” “dada,” and “gup” (for cup), etc.  There are more if you count “La, la, la” as Elmo and “Go, go, go” as Diego.  She knows how to nod her head yes or no, and seems to understand when we point to certain foods.  Some days she shakes “no” for cereal, and some days it’s a nod “yes.”  I find it very interesting that she has preferences at such a young age.

What I find incredibly fascinating is when she’s watching a show, has very limited knowledge of any language, clearly has the ability to choose yes or no, yet will always nod her head yes when someone like Dora asks, “Do you want to help us find the …..?”  Samantha has a choice, and always answers yes.

I’m not looking to make a scientific case here, but I find myself wondering when does she hit the age where she no longer wants to explore, where she’s not a “yes” to life, where she possibly goes from being a “why not?” to a “why?”?

As adults, we have come a long way from our free thinking child-like ways.  And, of course, as you read this, you might be thinking, “Of course, Scott, we’re not children.  Things are hard.  Life’s tough.  You can’t just go exploring whenever you want to, and you might get hurt if you do.”

And that’s exactly what I’m talking about.  When did we become so jaded and cynical?  When did we figure out how everything won’t work, without actually even giving it a try?  When did we decide that life is really hard?

When did we look at the TV and shake our head no when the cartoon asked us if we’d like to join in their adventure?

Look, you’ll always find why things don’t work, if you look for that kind of thing.  You’ll always be able to be cynical, and think you should protect yourself from the dangers of life, etc.  And I’m certainly not saying throw all caution to the wind and go do something dangerous.

I’m simply saying that our can-do attitude goes very quickly to a can’t-don’t attitude, and that’s not helping us even a little bit.

If you’re reading Christy and my blogs and articles, and/or you’re in our tele-courses or coaching, it’s very easy to come up with why something we tell you won’t work.  That’s what we’ve become…a sort of life and work experience trouble-shooter for ourselves.

What if we decided to try new things, especially when they’re designed to help us?  What if we were a “yes” to life?  What if we opened up that part of our brain that would explore again, and look to discover all the ways things WILL work for us?

If your mind isn’t agreeing with what I’ve just written, that’s okay and it’s normal.  However, if you aren’t 100% happy with your life and your business, then your thoughts don’t have a leg to stand on, so to speak.  If you want to improve, yet you shoot down what others tell you, how are you ever going to really know?

Our brains are amazing things, they fool us into thinking we’re right when we actually have no evidence whatsoever.  It’s called having an opinion.

And, sorry if I’m the first to tell you this, opinions aren’t facts.  They might feel true.  They might feel right.  But they’re just opinions.

So, don’t listen to the little voice inside your head.  Explore new ideas, new things, new ways of being.  Open up your mind to all the possibilities out there in your life and business.  Don’t let Dora down!  Go on the adventure!

*Our Role Play Connection is filling up.  If you want to work with Christy and me, and other top agents in North America, practicing objection handlers and discussion solutions to many situations in real estate, email us at info@yourethedifference.com.

It’s a 30 minute call per week for ONLY $29/month!

Go on, explore!  Try something new.  You’ll be glad you did.

Rapport with your clients (will help you sell more homes)

If you’ve been with Christy Crouch and I for any length of time here at You’re The Difference…whether simply reading our blogs, reading our book Now What Do I Say?, listening to the live role play CD, being in our telecourses, or in our coaching, you’ve likely heard us talk about and teach how to get in rapport.

(By the way, Now What Do I Say? and all of our other products are on sale for 25% off through the end of March.  It’s the You’re The Difference Economic Stimulus Package!)

I mention it here because no matter how many scripts and objection handlers you learn, no how much NLP (neuro-linguistic programming) language we teach you, even almost no matter what your mindset…if you’re not in rapport with your prospects and clients, what you say won’t matter.

In my opinion, the word rapport gets thrown around a lot.

Most people think that getting rapport is a matter of being nice to someone, finding a common ground (like a hobby), asking them questions about themselves, or being enthusiastic.

And they regard being in rapport as having a nice conversation with someone.  To which I always wonder, that’s your perspective…do you honestly know if the person on the other end thought it was a nice conversation?  Furthermore, since you’re in sales, are you sure that your nice conversation is enough to get someone to use your services over someone else?

To really know if you’re in rapport, let’s look at what rapport actually is.  The dictionary defines rapport as, a connection,  an especially harmonious or sympathetic relation; a relationship of mutual understanding or trust and agreement between people; a relationship, especially one of mutual trust or emotional affinity.

That’s some pretty deep stuff, ain’t it?

If you’re talking to someone and find out you both have two kids under seven, does that mean you’ve established an especially harmonious relationship of mutual trust or emotional affinity?  I really don’t think so.

If you’re enthusiastic when talking to a prospect, is there a connection…a relationship of mutual understanding and agreement?  Uh…maybe not.

Think about it, if someone you don’t know is really nice to you…don’t you sometimes suspect an ulterior motive?  If someone, especially a salesperson, starts asking you questions about yourself, don’t you want them to mind their own business?

For the purposes of this post, I’m not going to attempt to teach you how to get into rapport here.  Besides the space constraints, it takes practice.  I am, however, going to leave you with two things to think about

1.  Read Instant Rapport by Michael Brooks.

2. Understand that virtually all of the people who turned you down, hung up on you, backed out of a deal, didn’t listen to your advice, fought with you, demanded some of your commission at closing, listed with someone else, and any other bad thing that can happen between you and a prospect…did so because you weren’t in rapport with them.

*If you want to learn and practice getting in rapport, contact us at info@yourethedifference, so we can tell you about our upcoming tele-course schedule…and learn about our Role Play Connection where you can practice your sales skills with other agents across North America for only $29 a month!

Thriving In Today’s Real Estate Market

Have you found that surviving in this real estate market is getting tougher and tougher?  Do you realize it doesn’t have to be so hard?  I’m still selling an average of 110 homes a year in this market, and not necessarily working any harder.  What’s the difference?  YOU’RE The Difference!

Not only can you survive in this market, you can actually grow your business in this market!  There are many ways to take advantage of this market and I’ll talk about many over the next few weeks.  Today I want to talk about expired listings.

There are more Expired listings now than ever before, are you calling them, door knocking them, or mailing to to them?  If not, you certainly should be.  These are people who are ready, willing, and able to do business with you right now.  And, in most cases, they are not happy with their previous agent, since the home did not sell, and are going to change agents.  Be the one they choose!  The key to getting expired listings is consistency and follow up.

Don’t just call once and give up.  Call them again and again until you get the appointment, or until they list with another agent.  When you mail something to them, send it in a plain white, self addressed, stamped envelope.  This will make them curious, and compel them to actually open it.  Calling expired listings will undoubtedly increase your sales quickly and easily.

At You’re The Difference Sales and Life Coaching, one of the most important things we will coach you on is to come from the mindset of being a contribution to the client.  Instead of thinking you’re “prospecting” or “cold calling”, consider that you are reaching out to help them.  They need an agent, like you, who will take excellent care of them, and help them actually get their home sold!  So, when you get ready to call, or go visit them, focus your mind and intention on being a contribution to them.  Don’t think about how you might be bothering them.  They need you!

If you don’t know what to say and how to say it, practice up a little before calling.  Write a script that you want to use.  Think about ways you can be a contribution to them and help them.  Consider asking them lots of questions about their needs, wants and desires, instead of telling them how great you are.  Asking lots of questions allows you to learn about them and their needs and goals.  Asking questions also keeps you in control of the conversation, and keeps the client engaged in as well.  People love to talk about themselves and what they’re up to.  Be the one that allows them to do that and watch magic occur between you and your clients.

“People don’t care how much you know, until they know how much you care”, says Zig Zeigler.  I have kept this quote with me in my business for years since the first time I heard him say that.  So make your goal to find out about the client first, then tell them how you can help them get what they want.

If you want to learn exactly how I get over 70% of the 110 deals a year that I sell, from expired and fsbo listings, then email us at info@yourethedifference.com to register for our free call.  This one hour FREE call is jammed packed with ideas and information to help you do more business right away.  We will also tell you about a 6 week power packed tele-course called, How To Take More Expired and FSBO Listings.  In this 6 week course, my partner, Scott Friedman and I personally teach you exactly what I do every single day.  The scripts, the mailings, the follow up system, and the sales skills it takes!

Again, to register for this free one hour coaching call, email us at info@yourethedifference.com.

To learn more about the products and services we offer or to purchase a copy of our book Now What Do I Say? a collection of over 420 answers to over 70 of the most common questions and objections we face in real estate, visit our products page on our website at www.yourethedifference.com

Don’t be afraid to go after expired listings, put your mind’s chatter aside and realize this can be a gold mine for you, if you will just try it!

Buyers or Sellers? Who should you focus on?

If you’ve been in or around the real estate industry in the last 30-40 years, you’ve probably heard something along the lines of “get listings and control the inventory,”  “listings are key,” or “the name of the game is listings.”

And more recently, you may have heard many people talk about how buyers are gold, so you should go after buyers in this market.  The idea being that listings aren’t selling, sellers are upside down, and that since there have been seemingly so few buyers (either by lack of motivation or ability to purchase), to have a buyer is the key.

So which line of thinking is correct?

Where should you put your focus?

In theory, both strategies have merit.  However, one will work better for you as a business model and in the long run.

That is to focus on listings.

Here’s why:

You increase your chances of getting paid – If you price a listing correctly, it will sell…even in this market.  Whether or not you have the buyer, you get paid when the listing sells.

You increase your chance of getting paid MORE – Having listings will bring BUYERS.  They may or may not buy the house they called about, but you now have a buyer that you didn’t have before, and never could have found if not for the listing you took.  So, you might double end your listing, or the listing might get sold by another agent (most likely) and you take your new buyer to another property.  Either way you get paid for TWO transactions.

Also, most sellers are looking to buy something else.  If it’s in your market, that’s TWO transactions because you’ll get paid when the listing sells, and when you sell them a house.  If they’re buying out of your market, you can always be the referring agent and get 25%.

By the way, notice that just having one listing can exponentially add to your income – Seller A becomes Buyer A, Buyer B calls about Seller A’s house and buys it or another house, but Buyer B needs or wants to sell and becomes Seller B.  If you do the math, that’s a possibility of 4 transactions, and I didn’t even account for Buyer A possibly buying one of your other listings, or you possibly getting your own buyer for Seller B.  Granted that’s a best case scenario, but it happens (it happened to me many times in my selling career), and it started from just taking one listing.

Having listings will bring buyers – You want to work with buyers?  Get more listings.  Buyers call in on listings.  There’s really no other way to predictably find buyers then to have listings for them to inquire about.

You’re not left holding the bag – If a deal falls apart, and many do in this market, you still have a signed listing contract, and the house goes back on the market.  Most deals these days are falling apart due to either buyer remorse or inability to get financing.  So, if you’re working with the buyer you may no longer have a client at all.  They either no longer want to buy a house, or CAN’T buy a house.

Sellers are easy to find – They’re called homeowners.  Everyone who owns a house could be a potential seller.  Some of them actually advertise that they want to sell (FSBO’s).  Some of them already tried to sell and their agent couldn’t get it done, so they need you (Expireds).  You could make the argument that everyone who owns a house is a potential buyer, too.  However, typically they have to sell first before they can buy.

You don’t have to wait – Finding buyers is hard, you have to wait for them to call you.  And these days most companies don’t do floor time, which is good ’cause no one’s really calling.  Typically companies ration the call-in’s/internet leads to the listing agent.  So, if you don’t have listings, how are you going to get buyers to call you anyway?

You’ll catch it on the flip side - This market isn’t going to last forever.  Eventually more houses will sell and prices will go back up.  And, creating a listing inventory isn’t an overnight happening, you have to work at it consistently.  So, as you create the habit of consistently generating leads, and taking well priced listings now, you’ll realize the short term benefits of some of the selling now, and the long term benefits of them selling like hot cakes when the market turns.

Now, all that being said, I’m NOT saying to never work with buyers.  I’m simply saying that having listings is a better way to ensure that you get paid, and paid more often.

I understand that many agents would rather work with buyers, and that’s okay, just know that you’re swimming against the stream.  You have to work harder and for longer periods of time to get a transaction done.  And, unless you have a buyer’s broker agreement signed, there’s no guarantee the buyer will use you not matter how much work you’ve done.  I will admit that if a buyer calls you and they have to sell, that’s the possibility of two transactions…but again, you can’t predict that, and in the time you spent waiting for them to call you could have found dozens of sellers who are going to also buy.

There are typically two reasons why an agent would rather work with buyers:  1. fear, fear of rejection, 2. don’t know what to say.

You see, if a buyer calls in, you already know they’re interested.  Psychologically, it seems easier and less confronting because they called you first and asked about buying something.  It doesn’t feel like you’re trying to sell them.

Conversely, there’s a big stigma attached to “cold calling,” door knocking, FSBO’s and expireds.  It represents all sorts of fear, failure and rejection…especially if you don’t know what to say or are afraid of getting objections.

You can choose to do your business however you’d like.  And by no means am I suggesting an either/or approach.  If you work with sellers, you don’t have to completely forget the buyers.  Just think about your business for a moment.  If you are working mostly with buyers, ask yourself why.  Be honest with the answer; fear has a funny way of hiding itself.  “I like working with buyers” is many times a thinly veiled way to hide the fact that you think buyers are easier to deal with, that you”re scared of sellers, or not sure how to get listings.

Ask yourself if you want to do more transactions and make more money.  Then ask yourself if you know how to do that.  Really try to figure out how you can increase the amount of buyers you work with.

Many agents really won’t know the answer to that question.  They don’t actually know how to increase the number of buyers they work with.

What you’ll probably find is that most roads will lead you back to taking more listings to attract more buyers.

*If you want to know what to say and how to say it to get more listings, so you can get more buyers, call us for a free no-obligation coaching session, or visit us at www.yourethedifference.com and check out our products and telecourses.

Real Estate Customer Service

If you’re committed to making more money and working less hard, then you’ll want to read this.

Stop for a moment and think about the last time you had a great experience with a salesperson.

Take it a step even further and ask yourself the following few questions:

1. What was that salesperson focusing on?

2. How did they behave toward you?

3. What was their body language like?

4. Did they tell you all about themselves, or ask you questions about you and your needs?

5. Did you feel comfortable?

6. Did you feel safe?

7. Did they provide value and great service?

8. Would you use their services again?

9. Would you refer them to your friends and family.

Now, the last and most important question is …if your most recent clients were asked these same questions about you as their salesperson, how would they answer?

Seriously, the key to creating customers for life and building a huge repeat and referral business, depends largely on how you behave with your client the first time around.

Do you practice under-promising and over-delivering, or the opposite?

Do you ask lots of questions to ensure that you know exactly how to best service your clients?

One client at a time, we can begin to shift how we behave and show up for our clients from being all about how great we are, and what’s in it for us, to truly focusing on what their needs, wants, and desires are.

People love to talk about themselves and what they’re up to.  When you ask questions, and let your client talk about them, they feel accepted, connected, and very trusting of you.

Honestly, people don’t care about you, how great you are, or what you’ve accomplished, unless it benefits them. So stop telling everyone. Be interested in what your client is looking to do, why they want to do it, and then show them how you can help them get what they want.

Constantly ask yourself, am I treating my client the way I would want to be
treated? I like to imagine my clients with the letters MMFI on their foreheads. This stands for MAKE ME FEEL IMPORTANT.

You know, with genuine care, interest, energy, enthusiasm, and a true desire to take excellent care of your client, you can win time and time again against your competition and begin to change the public’s opinion of real estate professionals.

At You’re The Difference Sales and Life Coaching, Scott and I are committed to transforming the public’s opinion of real estate professionals.

Our coaching courses, events, and products will teach you how to do exactly this through exercises, language patterns, and thought processes that will take you from being good…  to great … to amazing!  Visit us at www.yourethedifference.com and see how we can support you.