SALES CLINIC
Selling
Keep Energy Wasters in Check
Learn how to deal with common energy-draining events in order to be more productive and successful in your career.
BY WALTER SANFORD
Can you imagine a day in which you have unlimited energy, enthusiasm, and love for the real estate business? If this visualization strikes you as unrealistic given the fact that “stuff happens,” you may be letting outside forces drain your oomph. Here’s how to block eight common energy-wasters.
1. Bill collectors. If you’ve ever experienced cash flow problems, you know how off-putting a call from a bill collector can be. The best cure is to have the money when you need it by regularly generating new business. Spend an hour a day generating new leads via phone, direct mail, or e-mail. Beware, however: New federal do-not-call rules restrict whom you can contact by phone. You’ll need to search the federal registry at least every three months and drop from your prospect list the phone numbers of consumers who’ve registered. Alternatively, you can make only “warm” calls—that is, calls to friends, family, and people you’ve done business with in the past 18 months. With e-mail marketing, make sure your messages go only to those who’ve OK’d your contacting them electronically.
Another cure for cash flow problems: Work with sellers to ensure that, if possible, closing dates are staggered according to your cash flow needs. I always maintained a chart on my office wall listing closing dates and tried to fill in gaps rather than doubling up on closings in a day. If the closing date is flexible, schedule it in your favor.
2. Family pressure. Family, friends, fun, faith, fitness, and finances all compete for your attention. Of all of these, family is probably the most important aspect of your life. Family members depend on you and look to you for support. Although you love them, their needs can put pressure on you. Prevent family pressure from building. Initiate quality family time with such regularly scheduled events as a family vacation and one day a week that’s devoted exclusively to family.
3. Buyers who won’t buy. If you’ve employed all your best strategies to light a fire under indecisive buyers and they’re still not motivated, you’re wasting your valuable time. Tell them, “I don’t think I can help you at this time” or “It looks as if you need time to think through your decision. Let’s put things on hold.” Or redirect them by saying, “Salesperson John Doe may be better suited to help you.”
4. Sellers who call you non-stop. Prevent seller clinginess by laying the groundwork during your listing presentation for an efficient working relationship. Tell sellers how often you’ll be in contact with them, and ask for their agreement. Stipulate what form this communication will take, such as e-mail or phone. (Consider the needs of the seller here.) You’ll reduce unnecessary calls by gaining agreement upfront on a marketing plan, a price satisfactory for the market, and procedures that make it easy for your peers to show the property.
5. Salespeople who won’t return your calls. Build relationships with other salespeople’s assistants. They know the best time to reach associates in their office and in many cases will be the contact for setting up appointments and answering questions about listings.
6. Unresponsive loan representatives. As much as possible, work with loan officers directly. When you work with a mortgage broker, you’re putting a third party between you and the person who makes the decision. That adds a level of bureaucracy.
To help your odds of working with direct lenders, provide buyers with a list of at least three lenders you recommend—lenders whom you know provide good service and who have a stake in the community and your future business.
7. Technology you don’t need. Whenever you buy and implement new technology, you incur monetary, time, and mental energy costs: the initial research, the purchase price, the learning curve, the maintenance, upgrades and patches, and the eventual replacement in two to five years.
If your technology investment doesn’t produce at least five times its cost in gross profit, spend your time on more profitable tools. Which technology is worth the investment in time and money? An interactive lead-generating Web site, a mobile phone and PDA (I use one of the convergence devices that includes both), and databases that allow me to send mass e-mails and direct mail all have helped me reduce energy-draining activities.
8. Lack of focus. Consider what you want to accomplish in your professional life, and write it down in the form of goals. Keep your goals in front of you all day. Draw up a plan on how to accomplish them and break them down into daily, weekly, monthly, yearly, and even five-year action lists. Include specific strategies, such as “I will increase advertising from X level to Y level.”
Make your objectives realistic so you’re able to move past plateaus. There’s no greater motivating factor than a reachable goal.
Most of the things that zap your energy can be shorted out with a little forethought and internal fortitude, as well as goals, systems, checklists, and a conscious decision about what you really want out of life. What are you waiting for?
How To Reach Walter:
Walter Sanford is an international speaker and author of 14 books for real estate salespeople, including The Book of Real Estate Checklists. You can reach him at walter@waltersanford.com or at Sanford Systems & Strategies, 800/792-5837.
Previously by Walter Sanford:
20 Questions to Ask Sellers Before the Listing Presentation
Sales Clinic: How to Get Your Sellers to Work for You
Build and Keep Your Leads
Overcome Commission Objections
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