Who likes to get sold to? I’m sure we’d all agree that it’s a pretty resounding…no one! For those “born” or even “wannabe” sales superstars, you probably imagine yourself sharply dressed and building relationships with high-level decision makers making mega-million sized deals over dinner and cocktails.
Are these dreams a reality?
Well, in a way, they are. People buy from people they like, are comfortable with and whom they trust.
So, why do ninety percent of the real estate agents start their introduction with something like, “sir, bili ka na kasi may pre-selling promo kami”?
Where’s the rapport, comfort, and trust in that approach?
There is NONE.
If you wanna be a top performing real estate agent, broker or developer in the Philippines, you gotta commit to improving your skills and approach by becoming a TRUSTED ADVISOR.
Here’s 5 Tips to Becoming a Real Estate Trusted Advisor:
- Selling Ain’t Telling
Based on the law of physics that was emphasized by the great Sir Isaac Newton who stated, “for every action, there is an equal and opposite reaction”. And, as we promote, it’s more important to first understand why people buy, and the second to understand how to sell based on why people buy.If you see these 2 major points as the premise of human and buyer psychology then you should direct your behavior accordingly.Don’t begin your sales pitch to cold prospects by telling them about the pre-selling promo you have but rather begin the conversation with questions that lead to why people buy. For example, if you sell condos, you should know that at its core, people by condos for reasons such as an investment. So, in that case, start your pitch with, “have you heard about the double-digit return on investment from ___ properties”?When considering the law of averages in sales, this approach will get your more results by attracting prospects versus scaring them off with your promo.
- Ask intelligent questions
In case you haven’t already read the book called “SPIN Selling” by Neil Rackham, you should. He’s written the bible on a systematic approach to asking 4 critical types of sales questions:
i. Situation: Finding out basic facts about the existing situation and establishing an overall
context in order to provide value.
ii. Problem: Asking about the problems, difficulties, and challenges the buyer is
experiencing with the present situation. People buy only when they have needs and needs
almost always start with a dissatisfaction with the status quo. Follow – up questions
identify, clarify, and expand the buyer’s implicit needs.
iii. Implication: Understanding the consequences and impacts of the situation, thereby
transforming implicit needs expressed as problems into explicit needs. They build the
significance and seriousness of the problem so that it is large enough to justify action.
iv. Need – Payoff: Checking and assessing the value and usefulness of a product/service
in a positive and constructive way. They develop the buyer’s desire for a solution and
move the discussion toward action and commitment.
- Listens carefully to their needs “self-lessly”
- Selling Ain’t Telling
By listening carefully without pushing your agenda first, you’ll be able to gather critical data points that compel a prospect to buy or not. As a best practice, here’s several powerful ways to improve your listening skills:
i. Slow the conversation down. Sales reps tend to be talkative people with lots of ideas and opinions –
a characteristic that can sometimes devolve into talking a thousand miles per hour…
ii. Don’t interrupt…
iii. Clarify & paraphrase…
iv. Listen to emotions…
v. Ask questions…
vi. Remember anecdotes
- Helps a prospect navigate through decision-making
While in the process of building a trusted advisor relationship, your prospects will appreciate how easy you can make the buying process for them. You gotta remember, your prospects are SUPER busy. If they’re an employee and work for a company, they’re just trying to make it through the day by doing their job and keeping their boss off their back. If they’re a business owner, you can imagine how busy that person is.
Carefully educate your prospect on the steps above and beyond that, you’ll help them with to increase their confidence in your services.
- Qualifies them “selfishly” and gives them advice on how to move forward with or without you
As the saying goes, “give and you shall receive”. In order to build trust, you have to think beyond yourself. Customers are A LOT smarter these days and more experienced so they’ll see right through you. As a rule of thumb, give value 75% at the time and ask for some type of commitment 25% of the time. So, based on four interactions with a prospect, you gotta ensure that 3 out of the 4 interactions display the value that you bring to the relationship. By approaching relationships in this way, it reduces the pressure placed on buyers and when reduced, you’ll be amazed at the information they’ll give you so that you can better understand if they’re really a qualified buyer or not and what it will take for you to win the deal.
Tech Guy & Real Estate Investor super passionate about helping real estate agents, brokers and developers grow their business to reach new levels of success.