Category: Training

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.

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

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.


blog_160909
Sep
08

Great teams are made of extraordinary people

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.


images
Jul
06

The 6 lists you must carry as a leading agent!

Here’s a strategy that may help you manage your pipeline in super effective way…. The 6 Lists You MUST Carry (at all times)!

  1. Priorities for the day
    This is your to-do list for today. If you have a SuperTeam – list their priorities here as well. This should be made the day before.
  2. Current Listings
    You should be looking at having an on-going communication with your current sellers.
  3. Hot Buyers
    These are the buyers that are either hot on a property or they’re cashed-up and looking to buy in a specific time-frame.
  4. Pipeline A’s
    These are clients getting ready to sign an agreement to list with you.
  5. Pipeline B’s
    These are clients you are positioning yourself to as the agent for them to choose when the time is right.
  6. Change Overs
    These are separated from the pipeline because Change Over buyers are the ones that buys a property this weekend and wants to have their property on the market yesterday.

These 6 lists are the Go-To lists to focus on and have on your person anytime you’re meeting a potential client!


SuperTeams1
Jul
02

The 7 Key Systems of SuperTeams

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:

  • Save
  • Your
  • Self
  • Time
  • 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

  1. Generating System
  2. Pipeline Management System
  3. Listing Management System
  4. Seller Management System
  5. Buyer Management System
  6. Negotiation System
  7. 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.

 


water-droplet
Jun
29

Clarity = Power

“I’m pretty clear that it’s going to be the most motivated agent, who uses the most effective strategies and who takes massive actions to the direction of their goals who wins in the end” – Michael Sheargold.

By identifying the keys to creating greater clarity in your year, you can continue the great momentum you’ve started at the beginning of the year and best handle the real estate rollercoaster. Get really clear – Motivation, Strategy and Action.

5 key clarity points for greater action and results:

  1. Business Generation.
    Look at your Business Generation plan. Is it targeted and focused? Is it going to give you a healthy flow of listing opportunities for your pipeline?
  1. Pipeline Management.
    Does your Pipeline Management need an upgrade? If you look at your pipeline management last year, what is the area that you can actually tweak and hone to see results now?
  1. Time Management.
    Almost certainly there are 1 to 3 things you can do from a time management point of view to give you a greater clarity and a greater focus on what you’re doing on a daily basis to reach your goals.
  1. Listing appointments.
    Are there any upgrades needed to be done with your listing appointments? Check out your listing tools, upgrade your notes, anything clunky at your listing appointment that can literally help you get better results out there in the marketplace.
  1. Service upgrade.
    That’s a service upgrade to your buyers and your sellers. If property management is a part of your business, then what would be a service upgrade to your landlords and your tenants.

These 5 Key Clarity Points are such an important framework for you to be effective and hitting goals right now. Mid year is a great time to review your Top 5 Goals from a Business Point of view and your Top 5 Goals from a Personal point of view and then see what key upgrades come out of the review session.

If there’s something you know that you need to upgrade that will give you the biggest room, the biggest bang for your buck then make sure your put that in place now!


influence
Mar
09

Influencing by Michael Sheargold, CEO Real Estate Results

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:

  1. Helping people move positively towards an effective decision – specifically an effective decision for them!
  2. 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

  1. Connecting – this is about building positive rapport. If we don’t achieve positive rapport, they will not listen or respect what you are communicating.
  2. 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.
  3. Discovering – Stepping into the client’s shoes. Let me ask some questions, tune in and listen to what you are communicating.
  4. Validating – or summarising what you have heard the client say in the discovery process.
  1. Solution – or presenting a strategy to achieve great results – again, based on the steps that have come beforehand.
  1. 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!

For more information about Michael Sheargold, visit: www.michaelsheargold.com


Meeting
Jun
11

I’ve never seen a bad business plan on paper!

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!


Talking at convention
Jul
11

Are your people turned on or just turning up?

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?