Category: Building Relationships

michael-sheargold-real-estate-training-australia-the-7-best-strategies-for-handling-objections
Nov
23

The Best 7 Strategies for Handling Objections

 

The best way to get what you want is to help your clients get what they want!

In an ideal world, all your clients would listen to what you have to say and then take your advice. You’re the expert after all!

But let’s face it… we’re not in an ideal world.

You might be wondering how to deal with the buyers and sellers who feel the need to question your every recommendation and who want to negotiate, negotiate, negotiate.

These customers don’t have to be the thorn in your side!

At the end of the day, they just want to feel heard and know that they’re getting the best value for their money.

So today I want to share with you The Best 7 Strategies for Handling Objections.

The I’ve seen it a thousand times… your sales strategy, your rate and your marketing spend all come under fire from fussy customers. 

They want to get more and pay less… and boy are they going to make you work hard for it!

So what do you do when someone keeps blocking your every move?

Well, there’s a series of steps to overcoming client objections that when implemented, will help make your client’s decision to list and sell with you a lot easier!

Remember the goal – to help get your clients what they want –  you get what you want.

Articles like this one and videos are excellent at bite-sized chunks, however, to really feel empowered with new strategies at your fingertips I would strongly urge you to join me at the next TurningPoint. Basically, if you want to use the best influencing strategies, the most connected community strategies, standout generating strategies, amazing listing strategies and key selling strategies – that work in any market – then you need to be at TurningPoint.

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To help you right now though…

Here are The Best 7 Strategies for Handling Objections:

1) Pause and ignore

Sometimes saying nothing is the best tactic!

Let the client keep talking and they may well answer their questions themselves. Often buyers and vendors try to hide their interest by coming up with objections, so they might not even be valid.

2) Acknowledge

As I mentioned earlier, people want to feel like they’re being heard. So repeat back to your client what they’ve said to make it clear that you understand exactly what they’re worried about.

Let them know – they’re not the first to have these issues… and they’re also not the first to have those issues addressed to achieve success in their real estate transaction.

3) Isolate and park

Here’s a question savvy agents ask when they encounter an objection: 

“Is this your only concern?” This alone is a powerful technique to help you move forward in a deal.

 “Let’s come back to that shortly” is something you might find yourself saying often as a way of ‘parking’ the objection. Your client might find their objections are addressed by the time you finish your presentation.

That being said, a great agent doesn’t ignore what his client has to say. Always, always make time for questions!

 

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4) Question and challenge

Remember TV detective Columbo? Often he got criminals right where he wanted them, simply by asking a lot of questions.

Get clarity on your client’s motives by asking them to explain their concerns in more detail. They might back themselves into a corner!

You can question and challenge without coming across as confrontational (we go into this in more detail in my training sessions).

5) Reframe

Sometimes you need to change how someone is viewing a situation. Here are two reframes elite agents keep up their sleeve:

“Perhaps another way of looking at this is…”

“I understand how you feel, in fact, others have felt the same way. But what we have found is…”

It’s all about perspective, after all!

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6) Suppose… would you

You know it… every option has a solution!

Say to your client “Suppose we were able to address this issue…. Would you then be in a position to go ahead?”

Have your no-brainer solution ready to go so they have no more moves but to play into your hands.

7) Case study

Examples, examples, examples are key to overcoming objections.

Share your most recent success stories, display clear data and create some situations your clients can relate to. Paint a clear picture of the results they can expect by working with you, and ask them if this is what they want for themselves.

Case studies are one of the most powerful tools you can use in many negotiation situations.

You need to develop a library of case studies – both success stories and horror stories! Practice these with your colleagues so you can use them well.

Every time someone objects to something you have to offer, make a note. Come up with a response so you’re not caught off-guard and you’ll be able to confidently undertake difficult negotiations with even the toughest of clients.

There you have The Best 7 Strategies for Handling Objections which you can implement right away in your business to see big changes in your negotiation process.

Think about what it would mean for you to confidently work smarter, win more listings, sell more property, become more tuned in to your market than your competitors and become the clear Number One Agent in your area…

TurningPoint has the power to help you achieve this goal. Visit the TurningPoint website here, or call the team now on 1300 273 785.


michael-sheargold-real-estate-training-australia-successfully-follow-up-your-clients
Nov
14

How to Successfully Follow Up Your Clients (and get what you want)

For real estate agents “Follow Up” is one of the most important and effective strategies you can use to win more business and sell more real estate.

Great news is, Follow Up is also one of the easiest strategies to implement and has some of the best cut through results – why? Because most agents do not take the time to do it!

Think about this…

80% of sales require 5 follow-up phone calls after the meeting (Source: The Marketing Donut) yet only 44% of salespeople give up after one follow-up. (Source: Scripted)

So how can you take the steps to master follow up, win more business and sell more real estate?

Well at its core the art of follow up is about nurturing, communication and consistency. So in this article I’m sharing with you 4 Follow Up Strategies, which you can use immediately to see instant results.

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Here are 4 Follow Up Strategies to help you to propel your network and your listings:

1. Open Home Follow Up

All those fantastic new contacts, waltzing through the door! Now is the time to start making beautiful friendships. You don’t have to have a lengthy conversation with every buyer on open day, you only need to make sure you answer any questions they might have.

Also make sure you get a phone number and email address for your business base!

In this case, an email is a great way to formalise your introduction. Include some more enticing photos of the property, key facts about the home, and make mention competition will be tight for the property.

In my experience, while emails are good, phone calls are excellent for rapid rapport building.

A phone call gives the buyer a chance to ask any questions they may have missed on the day. It also gives you the opportunity to uncover their property goals; what they’re looking for, when they’re looking to purchase, are they looking to move areas, are they looking to change over, what are their goals?

Keep in mind that 80% of calls go to voicemail, and 90% of first time voicemails are never returned (Source: RingLead) and 93% of converted leads are contacted by the 6th call attempt (Source: Velocify) so leave a message and call again!

 

2. After Listing Presentation Follow Up

Once you have made your listing presentation, now is the time to ramp up the communication.

Touch base with your prospective clients over the phone after a day, or a couple of days to work through any objections, investigate how they’re feeling about the decision, what they need to know to move forward and how to sign them as a client in the best possible way for both of you.

Remember, the easiest way to get what you want is to help others get what they want.

Arm yourself with key dialogue where you explain why you and your agency is the best possible decision for them, examples of the prices you have achieved recently for other clients, any points of difference you have in your market (ie your agency is a RER Network Member and what that means to them). Essentially you want the decision to list with you a super easy one.

At TurningPoint I guide you step by step through the steps to listing success and securing the listing at the point of the listing presentation.

If the vendor decides not to list their property with you at this stage, it doesn’t mean it has to be the end of your relationship.

You might have a property listed they are interested in buying, their relationship with the agency they’ve decided to list with might fall apart, they might decide to list again in 6 months time, so keep them on your business base and stay in touch, particularly if you notice their property is slow to sell.

You never know, you may still get the opportunity to be the agent who sells their property!

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3. Post Transaction Follow Up

Accounts are settled, papers are signed and keys are exchanged…but you still have work to do!

Providing your vendors with a thank you gift such as a restaurant voucher will help you to stick in their memory and help you maintain your future relationship (remember your client for life mentality!)

By ensuring you’re sending your new buyers a bottle of champagne, a bunch of flowers or a booklet of vouchers for local businesses is the kind of icing on the cake top agents offer their clients.

It’s a small gesture but it can make the world of difference to your long term reputation as a real estate leader in your community.

With this strategy, consistency is key. Once you have handled a property transaction for a client you should continually be reminding them you are their agent of choice, no matter how much time passes between buying and selling.

Something I share with all the real estate professionals who join me for any of the real estate agent training and coaching courses we run at Real Estate Results is this; there are so many clever and standout ways to maintain visibility and nurture your relationships.

With all the communication options available to us right now, a lot of them automated to save time, there’s really no excuse!

Here are some ideas:

  • Be active and visible on social media posting valuable and informative content (not just spamming your upcoming open homes and listings)
  • Send regular Email newsletters (this is why it’s so important to collect email addresses at your open homes and have a subscription sign up on your website)
  • Regularly send physical mail (this can be updates on the local market, end of year wrap, end of season wrap, etc)
  • Send a text messages to your client on the anniversary of their purchase (just a friendly reminder and congratulations)
  • Pick up the phone (you can place calls every 6- 12 months, just to touch base and see what’s happening and if they have any property goals they’re looking to achieve that you can help them with)
  • Offer them a free property appraisal offer so they can understand where they sit in the market

This is about nurturing your clients. Try to keep in mind that one client does not equal one client. They equal all their friends, their family, everyone in their circle. So getting this right can impact your immediate sales results and also your long term sales results.

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4. Referral Follow Up

If you have been introduced to a potential new client from someone in your circle of influence or a current or past client, always connect with the referral, introduce yourself and think about how you can help them.

They might appreciate a free appraisal or some advice on their potential as a property investor or they might just want to know an agent so when the time comes for them to buy or sell they know who to turn to.

Here’s the secret the most savvy of agents are in on – when you meet someone new, you don’t need to immediately spout your latest and greatest sale results.

Instead, find out what about their property goals and supply them with the information they need to take the next steps. Then you can maintain the relationship and let them know you can send them market updates, connect with them on social media, basically ‘become visible’ in their world.

You want to ensure they come to think of you as their agent, their go-to person for all things property and real estate and be ready when they need you. Also – thank the person who’s introduced you and maintain that important relationship with reciprocity and respect.

There you have 4 key Follow Up strategies to start implementing immediately. Let me know in the comments below what you favourite Follow Up strategy is and what kind of results it’s created for you?

The art of the follow up is integral to any real estate training and at TurningPoint we go through some simple yet effective steps to help you achieve seamless follow up across all areas of your business.


michael-sheargold-real-estate-training-australia-How-to-be-a-real-estate-area-specialist
Nov
06

How to Become a Real Estate Area Specialist

Do you want to win more listings?

Make sure you stand out as the specialist in your area by implementing these 4 steps.

The fastest way to attract more clients and sell more property is to become THE go-to real estate agent in your area.

In this article we will share with you the 4 key steps to becoming a real estate area specialist, plus why you should aim for this goal.

Firstly, think about the type of agent you really want to be….

Do you want to be the agent who wins the most listings, sells the most properties?

Do you want to get quoted in your local media, become a visible leader in your community and have every other agent scrambling to keep up?

Do you want sellers knocking on your door, already sold on the fact that you are the best person to sell your property?

If you’ve graduated TurningPoint you will know; to truly be the best, you have to be prepared to put in the hard yards to get there.

I’ve not yet encountered a single agent at the top of his or her game who hasn’t put in a great deal of work and focus into setting the benchmark for being the best in their local area.

The great news is, by setting that goal and by following some simple steps, becoming an area specialist is highly and quickly achievable.

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Why focus on local?

When you become a visible area specialist, you are setting yourself apart from your competition and giving yourself a key point of difference in your market.

What’s more, it translates to real estate gold; word-of-mouth referrals!

Your local area is full of potential buyers and sellers. As an agent you fulfil a much needed community role, you are the person your community turns to when they need to buy or sell a property – so make their decision to work with you an incredibly simple one.

When you stand out in your community as the agent who has their finger on the pulse, the agent with the best information, and the one with the greatest knowledge, you can have the most powerful conversations.

So let’s dive into the 4 steps to becoming a real estate area specialist and grow your market share.

1. Gather the history of each property you sell

I’m talking about a lot more than the price history here. You want to introduce your buyers to the home in a powerful way so you can gather key history such as:

  • Previous owners (are any of the previous owners important/known/famous)
  • When the house was built and what was unique about it at the time (the original owners built a fireplace that is still in use through winter and warms the entire home)
  • Local area information and how it relates to the particular property (for example: did you know this was the second home built on this street?)
  • If the house has any stories that can help buyers to emotionally connect with it when you meet them on open house day.
  • What the current owners love about this home (the current owners have really enjoyed the garden and made it a central entertaining area.)
  • Any major repairs or renovations that have been carried out recently (go back to the history with things like where the kitchen used to be)
  • Any plans that have been approved by council for the home but haven’t happened yet (there is approval to build a carport/granny flat/pool etc)
  • Any council plans for the local area (in the next 2 years the local council has committed over $X to X activity)
  • What are the nearby points of interest? So things like schools, universities, local parks, beaches, libraries, shopping centers, restaurants and cafes. (For example: Great news: it’s a 5 minute walk to Bar Beach)

The goal here is to help buyers feel like they have little known information about their soon-to-be home and are connecting with its history.

2. Form genuine community connections

How many people do you know locally?

I can tell you now; it’s not enough!

To truly be the stand out specialist in your area you need to be the person who knows everyone – not just know about them – but really get to know them.

Chat to local business owners and come to understand the challenges that they are facing.

Integrate their services into yours by forming meaningful partnerships.

What you are doing here is creating your Circle of Influence.

3. Stay ahead of local developments

In the past, I’ve found the agents who know the most, sell the most.

Information about new developments, infrastructure changes, school catchment areas and council bylaws should all be stored in your head so you are ready to answer any questions you are asked.

What’s more, to be the font of all local knowledge, you should be regularly scouring sites like CoreLogic.

You can also check places like Microburbs to find stats gleamed from the Australian Bureau of Statistics.

Drive to the office a different way every now and then and look around at what is happening in your area – have your finger on the pulse.

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4. Be visible and communicate

The more time you spend out of the office, the better.

Have you ever heard the expression ‘out of sight, out of mind’?

It definitely applies to agents who want to nail their local market and retain that all-important repeat business from their community.

Leaders in real estate keep themselves in the spotlight at all times by turning up to local events, by sponsoring community initiatives and by simply taking the time to say hello and ask people what is happening with them.

Something that I share repeatedly during any of my live training workshops is that setting yourself goals and creating a strategy will keep you on the right path.

Make a plan for regularly communicating with your area that you are THE person, the go-to agent who knows the neighbourhood inside-out and upside-down.

 

There you have 4 steps to becoming a real estate area specialist.

These steps will help you stand out in your market, become the go-to real estate agent, and grow your market share.

A final tip from me – instead of communicating and posting your latest listings and open homes on social media, communicate your love and interest in your local area.

Strategies as simple as sharing snaps of iconic local places and sharing the story behind them serve to keep you front of mind while giving your community something to feel proud of about their suburb.

 

For even more strategies on how to become an area specialist, step up to your best ever results and be known as the Number 1 Agent in your market, click here.


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Sep
09

To Get More Clients, Make More Friends!

Transactions pay bills, relationships build businesses.

If you are a principal I think you would agree, you can’t be successful in the real estate industry and not be a people person. This is partly because trust is such a huge factor – your clients are putting their biggest asset in your hands with the understanding that you will do what is right. You need to genuinely want the best for them in order to manage this responsibility.

“Business success depends, like any relationship, on personal connections. Building trust, understanding the client needs, and connection are essential”

The necessity of being a people person is also because the true greats of real estate have long-standing relationships with their clients. This is essential in the property game more than any other business, because each client’s transactions are spaced out with gaps of up to ten years.

After many years helping real estate businesses succeed, I’ve noticed that any real estate agent worth their salt doesn’t focus on generating transactions, but instead puts time and energy into nurturing relationships. Real Estate might look like a numbers game and it feels good to be at the top of your game, but if you want to stay that way your customer service has to come from the heart.

Making those personal connection, building trust, and understanding client needs is essential for longevity in real estate. Here are five quick ideas to allow you to demonstrate that your clients mean something to you.

1. Ask questions (and listen to the answers)

Find out what makes your clients tick. Get an understanding of what they do for a living, their passions in life and what things mean the most to them. Jot down a few notes in your CRM to jog your memory for the next time that you speak and refer to what they’ve told you in the past during your conversations.

If you are like me and truly love getting to know people, you won’t need the notes with your best clients.

2. Share your contacts

Most vendors have a high sale price in mind, but not much of an idea of how to achieve top dollar. As well as providing the standard advice of decluttering, freshening up the paint and tidying the garden, put your clients in touch with your network of trade providers. Get them a great deal on that deck repair and introduce them to the best tree pruner in your area. This will take a huge amount of stress out of the selling process for them.

3. Go the extra mile

As with your family and close friends, you don’t have to spend a lot of money to demonstrate that you value your relationship with someone.

Additional and unexpected services can really make an impression. Make the process as smooth as possible for your vendor; help them present their property to the best advantage. For example forming partnerships with local services such as interior designer and landscapers to help prepare houses for sale so your client has a few less things to think about.

Moving day for a new homeowner can feel like a footnote to you – however this is an oft-overlooked opportunity to leave people with a very favourable impression of your agency. A meal voucher at a local restaurant, fresh flowers or a complimentary pre-move cleaner will make people feel cared for – and give them a reason to refer you to their friends.

4. Refer them business

Friends help each other out. Your position as a real estate agent also enables you to be a matchmaker extraordinaire. Got a client who does interiors? Introduce them to the couple who bought that fixer-upper. Put the client who mentioned he’s starting a business in touch with the vendor who specialises in marketing for start-ups.

Use your client’s services yourself if you can and make sure you give them a great recommendation on platforms like LinkedIn. As they say, “what goes around, comes around”.

5. Provide helpful information

Even though most property transactions only happen every few years, the ever-changing property market is always a hot topic. Providing updates is one way to stay connected with your clients.

Create a newsletter that shares market updates with your clients and also gives them tips for maintaining their home, minimising their tax (if they’re an investor) and staying on top of trends for inside and outside their house. Remind your clients / friends that you’re never more than a phone call away if they have a question, even if they’re not thinking of selling.

If you are a principal and you want to discover more ways to create lasting relationships with your clients and build a brilliant reputation for your real estate agency at The Business of Real Estate conference – tickets on sale here.