For a super effective sales meeting, you can follow some simple yet highly useful tips!
The first step is to be clear on your objectives; what is the aim of the meeting, what are you going to achieve, is there a core message you want to convey at the meeting?
When you have these in mind, the second step is to focus on achieving the specific high-impact goals. When you do, your sales meetings will fast become the highlight of the week for you and your team.
To help you right now I’ve prepared two lists for you; One is “The Do’s” of Meetings and the other is “The Don’ts” of Meetings!
Use these two lists to keep your meetings on track and please keep this in mind; you want your people attending the meeting looking forward to what will be covered and discussed.
In fact, your weekly sales or team meeting should be a motivational highlight of the week that aligns and focuses your team as opposed to the lowlight of the week that disconnects, shames and diminishes your team’s enthusiasm.
So let’s get into it…
List One: “The Don’ts” Top 21 Sales Meeting Turn Offs
Lack of leadership/direction
Talking for the sake of talking
Other’s suggestions shot down
Not starting on time
Too many meetings
Irrelevant topics discussed
Too many admin issues
Negative issues involving a few
Focus on star performers only
Getting off track
Commitments without follow up
Participants leaving early
Little or nothing discussed of value
List Two: “The Do’s”: Top 21 Sales Meeting Turn On’s
Start with some music to create energy
Start with a game or funny video
Zapping – acknowledging
Clear agenda & timeline
Progress & results
Read a client testimonial
What’s working for you?
Everyone feeling heard
Change of venues occasionally
High take-home value
End on a high
I hope these two lists have provided a quick motivation for you to run a super effective sales meeting this week. If you feel you and your team need a ‘change up’ of meeting flow and energy, try working through “The Do’s” and see what fits well with your team…you may just be surprised at how these small changes can have a lasting effect for yourself and your team – for the rest of day and the week!
Yours in real estate,
PS: If timing is an issue for your team and you have team members consistently turning up late for sales meetings, use the below sporting analogy…
“If a sporting team’s game starts at 9am, the team would always arrive BEFORE 9am. So when our meetings start at 9am, that’s game time. If you need time to prepare, be early!”
As a real estate agent, one skill you’re consistently honing is your power of influencing. Influencing is incredibly important in order to win more business and sell more real estate, however when it’s time for the ‘hard conversations’ it’s your negotiation abilities that will get you across the line.
In this article, I will share with you 6 tips to succeeding at negotiation which you can start using in your next negotiation.
Negotiation is a game based on psychology. You must know your client’s motivations – what matters to them, what motivates and inspires them (all the details about their property goals) in order to help your clients arrive at a positive outcome.
You’re successful when your clients are successful. Negotiation for a real estate agent is a win: win situation
When you’re starting out as an agent, it’s easy to rely on the “wrong” methods to get the sale price you and your vendor want. Bullying or goading your clients into a decision does not a good negotiator make – and it goes against the long-term strategies I work through at TurningPoint – strategies like How to create clients for life, How to generate repeat business and How to enjoy amazing referral work to name a few.
So, what are the “right” methods you need to succeed in negotiation?
Let me share with you what I have discovered over 20+ years as a High-Performance Real Estate Coach working with agents, teams and leaders on successful negotiation steps:
Why does your seller want to sell?
What has made your buyer decide to buy?
Is it for work, family or financial reasons?
Are they upsizing, downsizing or making a big lifestyle change?
Understanding the motivation of your seller as well as your buyer is the strongest influencer you can have. By asking questions to uncover their motives, you’ll be giving yourself great big clues on what is going to help them commit and put you to work!
2. Property Fit
Every buyer has different needs. Understanding these needs will empower you to guide them towards the right property that suits their needs the best.
Think about this: if a property doesn’t fit a buyer’s requirements, should you really be selling it to them?
The answer is no – they’ll hardly be singing your praises when they realise they have made a bad decision.
When you’re in the midst of a negotiation, you should be able to seamlessly and honestly present all the reasons why the property suits your buyer and how it works into their property goals.
The seller wants to achieve the highest price possible.
The buyer wants to pay as little as possible.
You, as agent and negotiator step in to find the sweet spot between the two; where both parties walk away feeling as though they have ‘won’.
Knowledge and education are key when it comes to settling on a price.
Why should the buyer pay an extra $10,000? How will it benefit them in the long-term?
Why should the seller settle for $10,000 less than the amount they had in mind?
You need to be informed with solid facts about their mortgage payments, forecasts for future price changes and every possible reason for flexibility at both ends.
Special tip: It’s this part of the conversation that some agents struggle with. My advice is to practice, practice, practice your dialogues. Set aside time with your team each week to practice your dialogues so you are not practicing on clients. RER Network Members: Use your role play cards and RER Network football.
It’s not always all about money!
A longer or a shorter settlement, garden equipment being left with the property, appliances, furniture…
Assume everything is negotiable and you give yourself and your customers a much larger platform to stand on.
Be flexible, be creative and be open to suggestions – anything is possible!
5. Scarcity and Urgency
Scarcity and urgency are two of the strongest internal ‘psychological triggers’ and when used in the right way, are powerful weapons in a negotiation.
This is why the auction process is so successful in creating sales records – it brings out the competitive natures of even the most placid buyers!
Find the reasons why the buyer should feel a sense of urgency; be it interest rates skimming the ground, no new apartments are being approved in the area due to new council legislation or simply because property is scarce. The key here: know your local area, its market and know it well!
You don’t need to intimidate your clients with false scarcity and urgency or push them into a decision – your goal here is to help them understand why NOW is the time and THIS is the property.
6. Perspectives = Stepping Into Their Shoes
In the case of negotiating real estate, it’s your job to clearly think about what the negotiation looks like from both the buyer and the seller’s point of view.
By stepping into their shoes you will understand where your clients are coming from and gain perspective on what they are thinking and feeling.
Knowing their personal goals provides insights into the roadblocks they are putting up in front of you and will help you break them down.
Think about these tips before your next negotiation, practice your dialogues, be the most equipped agent in your area with local market knowledge and watch your results improve.
Learn more about increasing your influencing ability and your negotiation power (even if you’re just starting out as an agent) so you can win more business, sell more real estate and make more money, by joining me at TurningPoint in May. For more information and to take advantage of the early bird ticket rate, click here.
Standing out in a crowded market and becoming the agent of choice in your area requires a lot more than having excellent negotiation skills and getting good results on auction day.
There’s a whole swag of other tools you can utilise, the most impressive of which is Video.
I’m sure you’ve heard about how video the ‘next big thing’ in real estate.
It’s safe to say, video is not the next big thing – it is THE thing!
According to an Australian Retailer, real estate listings that include a video receive 403% more inquiries than those without and Forrester researcher Dr. James McQuivey estimates that one minute of video is equal to 1.8 million words. (Source: Insivia)
You can start using video as part of your strategy to become the best real estate professional you can be – even if you’ve never used video before.
In fact, if you’re a video novice, now is the best time to get started.
Why? Video helps you to:
Increase the likelihood of potential clients seeing your listings (as you can post video on a number of platforms and increase your reach).
Add value, information and education for your clients (to help you stand out as an authority figure in your area).
Create connections in your local area with your local market (video allows you to build trust and consistency in your message).
Showcase you, your agency and your properties in a way that images and text cannot compete with.
Most importantly: Video inspires action!
So, where to start?
With one or all of the following – preferably all, because we’re aiming high here!
Market Wrap Video
Property is a hot topic, no matter where you go.
Everyone wants to feel like they have the latest insider info on what’s going on in their market.
This is important stuff for potential clients who are teetering on the brink of buying or selling.
A succinct but information-packed market wrap will influence people to take their next step on the property ladder.
Be honest in your video, share the facts and finish up with a strong call to action reminding your clients they will be missing out if they don’t ACT NOW.
According to research from Australian based video and tech company Unruly, enjoyment of video advertising increases purchase intent by 97% and brand association by 139%. Why? Because video triggers strong emotional responses.
Pictures of a property are well and good however, a well-produced video creates an emotional connection.
In your Listing Video make sure to:
Show the address of the property
Showcase the home itself in a beautiful, clean way
Show the grounds, the gardens, the yard, the front of home
Make special note of all the interesting or unique things about the home
Play some interesting and calm music
Let the video tell a visual story
Include movement/people/pets in the video
Include your contact details and a clear call to action
Another idea is to record yourself or the current owner simply chatting about why they love the property and you’ll make the idea of owning it much more real to the people sitting at home browsing the internet.
Your potential buyers will start to see themselves in the home, making dinner, having friends over for a BBQ, and they’ll be picking up the phone to speak to you in no time.
Test some of your listing videos. Experiment with you as the agent introducing the property and talking about it’s features in greater detail.
A good reputation can is the result of the great relationships you’ve built, and a profile video is an excellent way of reinforcing your reputation.
Introduce yourself, share what you love about living in your community and gather some testimonials from your best clients.
When you do this, you’re creating a celebrity effect. People see you on screen and they feel like perhaps they could be your friend. By the time you finally get to shake hands, the initial introductions have already been made.
90% of information transmitted to the brain is visual, and visuals are processed 60,000X faster in the brain than text. Creating and sharing your agent profile video makes you as instantly recognisable as George Clooney or Sandra Bullock 😉
Agency Profile videos are important, especially if your agency is not one of the better known brands in your area.
Like a profile video, it introduces you to clients before you meet, and here’s one people overlook all the time, Google owns YouTube, so Google loves video.
According to Forrester Research it is 50x easier to achieve a page 1 ranking on Google with a video. Wouldn’t it be nice to have your agency website at the top of the page when someone searches for ‘real estate [your area]’?
Video is one of your best weapons in the fight for great search engine rankings.
Your Agency Profile Video is an excellent way to introduce your team, what’s different or unique about your team and brand, what you love about your area, your values and your vibe. Potential buyers connect through emotion and your profile video allows you to start that relationship.
Why a happy team is essential for a successful real estate agency
When it comes to your real estate agency team, a great saying to remember from Real Estate Leadership expert Megan Jaffe (Ray White’s #1 office in the world) is this:
“A good business contains great people, but a great business is created by extraordinary people”.
The business of selling houses attracts like personalities. During my years in this industry, I’ve found that at its best this can make for an enthusiastic, dynamic group within an agency. These are the agencies that really fly. At worst, there can be clashes between people who are vying for the same results in a commission-based field.
In any agency, whether it’s a small family owned venture, a franchise outlet or a boutique brand, you need a team that works well together in order to be successful. A happy working environment allows people to focus directly on their work. It can be challenging for an agency principal to establish the right agency culture, but it’s by no means impossible.
Over the years, I’ve noticed 4 key tactics that successful real estate principals and directors use to build and cultivate a successful team:
1. Hire With Care
When recruiting a new agent, don’t base your decisions entirely on merit. Evaluate any candidate’s attitude and ask detailed questions about their philosophy towards selling property in order to ascertain whether or not they will be a good fit.
Consider consulting with the other members of your team, including other agents and the business managers who will be working closely with them. They can give you their opinion on whether they believe the person will meet expectations while adhering to your agency’s values.
2. Get Together Regularly
I know all too well how easy it is to get caught up in your daily tasks. But holding regular meetings allows your team to share ideas, celebrate wins and reconnect with each other as colleagues – and as people.
Schedule a weekly, fortnightly or monthly catch up and make it casual by holding it in a local coffee shop. As well as talking about business, have discussions to refine your company mandate and encourage contribution from everyone on your team.
Don’t forget – not all gatherings have to be about work. Organising quarterly or biannual drinks allows everyone to relax and connect with each other off the clock.
3. Define Roles
There can often be overlap in the tasks for people around the office in a real estate agency, which is why it really helps to clearly define each person’s role in writing. Eliminating the confusion around who does what means that everyone understands what is expected of them and will be able to get through tasks quickly and efficiently.
For agents, you may find that to prevent them from competing with each other to win listings, there needs to be a strategy for dividing work by area or demographic.
4. Lead By Example
To foster a group that works together, is supportive and that celebrates each other’s’ successes, you have to present yourself as enthusiastic and every bit the team player. Focus on communication and display respect for everyone you come into contact with on a daily basis, regardless of their position on the team.
Transactional or relationship based? What kind of business do you want yours to be?
Learn how you can create your business to be more successful, enjoyable and impactful at Principal BootCamp.
Are you only pushing for results, or are you leading your team to success?
One of my favourite quotes is “Your business will never out-perform your leadership.” This is always true in real estate, where a strong crew is universally the result of having the right person steering the ship.
I’ve seen more than my fair share of agencies during my two decades working with real estate leaders. Along the way, I’ve taken in exactly what those performing at an exceptional level are doing. I’ve also been able to review the flaws within the businesses that are struggling to remain relevant.
When I reflect on what I’ve seen over the years, it’s fair to say that the quality and consistency of leadership really is, is the deciding factor in whether or not your agency has the edge. This is because it is up to the leader to set the benchmarks for everyone to strive towards. These benchmarks are set in all areas of your agency.
As a real estate agency Principal, the overall performance of your business should always be on your radar. Here are ten questions to ask yourself that can give you an understanding of how well your business is doing.
10 Point Business Reality Check
1. Does your agency have a strong focus, with consistent vision and values?
2. How steady is your performance culture?
3. Are you effectively positioned for positive momentum in your market?
4. How good is your recruitment and how quickly do new team members hit their stride?
5. Is there a constant drive for productivity and accountability?
6. Does your team have access to training and coaching?
7. How well does your agency retain talent?
8. Do you regularly recognise and celebrate achievement?
9. Could you describe your systems and procedures as “excellent”?
10. How effective and productive are your sales and team meetings?
(Hint: if you’re a great leader, your answers should be along the lines of “Yes”, “Very well” and “Never better”)
All these points are driven (or jeopardised) by the strength of your leadership. Each area needs to be locked and loaded. Yes, it means a lot of work for you as the person in charge, but the payback can be extraordinary.
In a buoyant real estate market, it is easy for a leader to become complacent. But nobody can tell what is around the corner. Want to know how to always pip the competition to the post? Stay rock steady on the above ten points. This means you and your team will be able to deliver above average results in any market conditions.
At The Business of Real Estate, you’ll get up close and personal with some of our industry’s leading thinkers and performers. These people are the cream of the crop in their respective markets and they never lose sight of doing things better. I’ll be there throughout the two days, helping you to maximise the value of the experience and showing you how to grab the top 10 leadership habits and make them work for you. Book your place here.
Here are the 7 Key Systems to have in place with your SuperTeam!
You either have in your business “a system to do it” or you have a “remember to do it” – how well do you think remembering is working out? At some stage, something will fall through the cracks! And as soon as you introduce someone other than yourself into the business, you need to introduce systems – because if you rely only on what you’re remembering, you are setting yourself up and your support person up, to fall flat.
Ask yourself this question: “Is it worth doing these things again?” If the answer is; Absolutely, then create a system for it!
If we look at the word “SYSTEM” it breaks down into:
Energy and Money
That’s what a system is designed to do – the purpose of any system is save yourself time, energy and money. Therefore, the question that you might ask is: “What are the key systems that we need to have in place?”
Your 7 KEY SYSTEMS with SuperTeams
Pipeline Management System
Listing Management System
Seller Management System
Buyer Management System
Financial Management System
These are the obvious systems with a SuperTeam. If you’re investing time, energy and effort into a SuperTeam you want to make sure you’re getting excellent ROI from that team. So, if you’re a Lead Agent in a Superteam, you would have; your Client Services Manager, your sales assistant, sales support, all in place in such a way that you got every single one of these systems clearly defined and in place.
“The power of an idea is in its implementation!” – Michael Sheargold
PS – If you want to know the best strategies to establish and work within a SuperTeam and you’re interested in attending my SUPERTEAMS workshop, feel free to call the team on 1300 273 875 or visit the website for more information.
The fastest way to get what you want is helping other people get what they want.
Real estate is the ultimate win-win-win business. That means, when the seller wins and the buyer wins, then YOU win. Your focus therefore is when you’re on the phone with a buyer is to help the buyer get what they want. Same thing when talking to an owner – and when you come in with that energy, then you can achieve your results faster.
Influencing is basically moving people in direction of a decision.
This works two ways:
Helping people move positively towards an effective decision – specifically an effective decision for them!
Helping people make better decisions.
This is the essence of influencing.
Having completed over 7,000 coaching sessions in the real estate profession I’d like to share with you the Results Influencing Model. As you review the model, ask yourself the question… “How well am I using these points in my current influencing strategy?” And give yourself a score out of 10 on each.
Obviously from there, build for yourself a simple action plan based on what you are going to Start doing… Stop doing… and Continue doing… to make the biggest difference in your results.
Enjoy reviewing – I’d love to hear your upgrades!
Results Influencing Model
Connecting – this is about building positive rapport. If we don’t achieve positive rapport, they will not listen or respect what you are communicating.
Framing – this is the most powerful underutilised influencing strategy in the world today (according to me!). If you master this you will be able to communicate more effectively, negotiate more effectively, be stronger across the board. Framing is about you setting the scene.
Discovering – Stepping into the client’s shoes. Let me ask some questions, tune in and listen to what you are communicating.
Validating – or summarising what you have heard the client say in the discovery process.
Solution – or presenting a strategy to achieve great results – again, based on the steps that have come beforehand.
Commitment – you want to gain a commitment to whatever the next step is.
It works on a 5 minute call, at a listening appointment, at a buyer enquiry – generally in any communication! This is the process of influencing and when we hone our skills at this area, we’ll go to a whole new level.
Some examples of conversation lines you may use:
Setting the scene or Framing… “So I can help you best, do you mind if I ask a few questions?”
Validating… “I have a much better understanding now of what you are looking for in a property. Could I summarise that for you?” Then you go through what it is, and you can then ask them “Is that about right?”
Solution… “Based on what we discussed, let me show you some properties” …”the next step is…” “We can put a good strategy in place to achieve your goal”
Remember to present a solution and ask for a commitment.
Think about how you’re influencing right now – and what you could enhance or upgrade right away to start seeing some positive results. Keep in mind the first point – the best way to get what you want is to help others achieve their goals. Be great at influencing and see your results soar!
Have you ever had someone get the wrong message from a simple comment you said?
Well this is an important email standard I’d like you to adopt because people can’t help adding “stuff” to an email. This can have you (and them) even potentially your whole team off track.
It might seem plainly obvious to you, but never ever send a negative email!
If there was one exception to that rule it would be a non-delivery of service where you feel you MUST get your point across.
Let’s look at this situation… say you have an issue with a colleague or another department in your business (they may be in the same office as you or located elsewhere) as soon as you go for it on email and let your fingers take some of your stress, I can almost guarantee that if you press send, you will have a BIGGER issue on your hands.
You see, even simple comments like…
“I have a real concern about what’s happening in marketing” or
“you have taken things totally out of context” or
“that is something you don’t need to concern yourself about”
…are totally valid if we can add some tone and body language face to face, or via Skype even on the phone those same statements will “land” very differently.
I’ve recently been forwarded an email chain (9 emails firing back and forwards) between 3 people in one business. The reason I got to see these is that it had escalated so much that we now have a conflict resolution issue on our hands.
The original issue was quite small and valid. But instead of a quick call or email saying… “I’ve got a couple of ideas I’d like to run past you, when is a good time to catch up?”, one of the people fired off an email and yes, it was taken the wrong way – the rest as you guessed is history.
So don’t “hide behind” an email and fire off comments that could very easily be taken the wrong way.
Now it’s okay to get your thoughts on paper or into a doc, but don’t press send! That’s the bit that will get you in trouble and have you in clean up mode.
Have a brilliant week and please share this with as many people as you can – we’ll make the world a happier, less stressful place.
Strange but true… in the ‘romance’ of the planning process it’s so easy to get swept into an interesting and exciting mode that may bare little or no resemblance to your current reality.
Now I’ve said many times in workshops you have to watch the “knockers” (let’s call them Challenges or dream stealers) particularly when you’re in creative mode building a new business idea or strategy to take on your world!
What I will say though, once you’re beyond draft and things are crystallising in your mind, it’s okay to run it passed a few people who are less than enthusiastic idea generators and ask them…
Is there anything I/we have missed with this?
Where could my/our assumptions be out?
What’s wrong with this?
Now a lot of people would say avoid these people at all costs but in actual fact they can make a significant difference to the quality of your final plan.
The only rule on the feedback is… the challenger must provide any feedback or challenge as a question.
So instead of them saying… “That will never work.”
They would change it to… “My biggest 2 concerns are the timeline you’ve set and the fact you plan on gaining 20% marketshare within 3 months – how sound are these couple of points? and how do you plan on making it all happen?
Now your challenger isn’t hindering your planning process, the challenger is enhancing the plan.
Have fun with this and I’d love to hear how you go.
Buy the way… a great coach needs a healthy dose of optimism with a great blend of realism.
This simple strategy will help you move from a great business plan of paper to a great business in reality!
Having just finished AREC 12 on the Gold Coast with some 2500 real estate professionals from Australia and New Zealand it became obvious in the bonus principal session that some agents are just turning up and expecting a market miracle to happen!
Other real estate professionals are truly turned on to achieving great results.
Now sometimes agents say to me “I’m waiting for different/better conditions” – this clearly is a no go strategy!
The market most of you are in, you need to be in proactive mode – making it happen.
Of course I know you’re clear that real estate is the ultimate win:win:win the only time the agent wins is when the buyers and sellers win.
Great agents understand this and are “turned on” to helping people achieve their property goals.
Are you turned on? And could take it to another level today?