Scripts are Out!

Five Tips for Effective Communication with Sellers

I want to take a moment to discuss the importance of learning how to instill calm communication and conflict resolution at a listing presentation, especially when it comes to talking about price and handling objections.

Too many agents make the mistake of rushing to present all their research and show all their marketing that they forget how important it is to communicate. They forget to ask questions, make eye contact, and slow down when providing information. And this is absolutely critical in building rapport and helping the seller(s) understand how you work.

There is nothing worse than being on the other side of the table and being talked at by a salesperson determined to get through his or her presentation. I am sure you can think of a situation in your life where a salesperson talked over you, did not pick up on your body language, or directed all of his/her statements and questions to your spouse/partner.

My advice? Do a better job of tuning in!

Tune in to the clues that the seller is leaving you. If you walk into the presentation and they immediately ask about where you are recommending the house be priced, don’t avoid the question and spend 45 minutes talking about your marketing. While some real estate coaches encourage avoiding the seller’s objections and sticking to the script, I find this approach distasteful on behalf of the seller. I encourage everyone I coach to employ my special “whack-a-mole” technique when it comes to seller questions and objections.

Imagine a conversation, script-style:

Agent: … your home listing will be syndicated on 30 websites including Yahoo Real Estate, HGTV’s Frontdoor, Zillow, Trulia, and REALTOR.com. And of course, it will also be picked up on every company’s website that displays the information from the MLS. It will also be featured prominently on my website.

Seller: Are you going to do open houses every weekend?

Agent: I will cover that in just a second when I discuss your personal property marketing plan.

The seller wants an answer to his question. He doesn’t want to be put off. Here is how that conversation would look “whack-a-mole” style:

Agent: … your home listing will be syndicated on 30 websites including Yahoo Real Estate, HGTV’s Frontdoor, Zillow, Trulia, and REALTOR.com. And of course, it will also be picked up on every company’s website that displays the information from the MLS. It will also be featured prominently on my website.

Seller: Are you going to do open houses every weekend?

Agent: I do find open houses to be an effective way to market properties when they are in a great location and are priced at the market. We haven’t had a chance to discuss price yet, but I will tell you that your home is in a great location and feel that it would receive a lot of traffic. Have you had success in selling your home in the past as a result of open houses?

By my whacking the mole instead of avoiding the question, this has given the agent an opportunity to dig a bit deeper about the seller’s past open house experience and leave a hint that price may be a factor in having open houses.

Now, the seller could have answered the agent’s question with:

Seller: Bah! The last agent that tried to sell my house insisted on open houses every weekend! We were constantly cleaning the house and had to leave every Sunday. I missed the entire football season! People tromping through my house, moving my stuff and leaving dirt on the rug. And in the end you know who wound up buying my house? Some family from out of town that never even came to the open house! What a waste of time!

The seller has just raised another objection - this time around the effectiveness of open houses. And this is not a mild objection. The seller not only feels very strongly open houses, he has left a few clues that the agent needs to pick up on:

  • He finds keeping the house clean a bother. This might be a problem in keeping it clean for regular showings. Make a note to address that before the listing is signed (you should have a document for seller expectations so there are no surprises).
  • He doesn’t like having his stuff moved around.
  • The last agent didn’t do a good job of returning the house to the condition he or she found it in.
  • The house was likely overpriced if it sat on the market for weeks and weeks.
  • He values his time. Especially time on Sundays during football season.

An agent following a script would find themselves completely derailed by his comments. However, a communication-savvy agent sees an opportunity and armed with new clues, proceeds:

Agent: Wow! (the agent needs to match the intensity of the seller’s statement and acknowledge his feelings) It sounds like open houses weren’t effective in getting your home sold to that particular buyer. Did your agent share any ideas as to why your home wasn’t garnering any offers as a result of the open houses? That does sound like a lot of weeks to have an open house without a result.

Seller: No idea. I had to constantly call for updates from the agent. It was like pulling teeth! And he wasn’t even the one holding the open houses. Frankly, I didn’t hear from the agent until we had an offer from the buyer!

Look at how many clues the agent picked up from that one additional question:

  • The last agent didn’t do a good job of communicating with the seller and that frustrated him.
  • The last agent didn’t hold the home open himself and that frustrated the seller - especially that the house was not left in good condition.
  • This seller did not have a good experience from his last agent.

This is a great time to acknowledge this last point.

Agent: It sounds like you didn’t have a great experience with your last agent. And I want to assure you that I operate completely differently. First of all, I have a system for communication that is based on how you like to be communicated with whether that is in person, by phone, or by email. I also provide a weekly report to my sellers which outlines the activity we have seen in the past week.  I also include what marketing we have on the agenda for the upcoming week. Open houses may or may not be part of that plan, but that is something we can address together. Would you like to go ahead and discuss our communication plan in more detail now?

By whacking the mole and asking questions of the seller, you have the opportunity to learn more about the issues they really care about and perhaps their expectations and concerns from previous experiences. Also, when you address their concerns directly, it shows that you are listening and care about having them be part of the process.

Sometimes you have to utilize the skill of silence, especially when speaking your truth. When we tell someone something they may not want to hear, they sometimes need space to absorb it. But what are we naturally inclined to do? Talk faster and throw a whole lot of information at the person, trying to justify your position.

Like in the following example:

Agent: I know you want to get $400,000 for your house, but that is $75,000 over where my research has shown us your house should be. In fact, no home in this neighborhood has sold for over $375,000 ever! Your neighbor’s house sold for $369,000 and it has 500 more square feet than yours. Not to mention you have the retaining pond 50 feet from your back door. You are also not taking into account…

Too much babble! The seller needs time for the first statement to sink in. This is how it should look:

Agent (in a very calm and quiet voice. Very slowly): I know you want to get $400,000 for your house, but the market is showing us $325,000.

Then silence! It will be very difficult to sit there and not say anything. In fact, it will be downright painful. Especially for agents with supporter personalities who want to soften the blow of what they just said.

However, there is strength in silence.

Shhhh! The seller will speak. Just sit there calmly and make eye contact. Not aggressively… calmly. You may want to practice with another agent or even a family member first if the thought of not saying anything is making your skin crawl.

Remember to use silence, a quiet, calm, and slow voice, and space in the conversation when you are making a point.

In addition to silence and space, the five other communication skills I recommend every agent work on include:

  • Get tuned into reading body language. If you don’t know where to start, you can either do a little research online. Understanding body language is absolutely critical at a listing presentation. You must understand what someone’s body language is asking for. Are they confused? Are they resisting your recommendations? Do they distrust the information you are giving them? Did you lose them 10 minutes ago when talking about price? Have they already heard enough and are ready to sign?Sometimes you might need to stop talking and ask, “Would you like to hear more about what I am going to be doing to market your home online or are you ready to move onto our communication plan?” If they sigh and indicate that “perhaps we can move on …” don’t just ignore the comment. Whack that mole! “We certainly don’t need to cover everything that is on this agenda if you are short on time. What are the topics you are most concerned about?” And once they tell you what they want to hear about, be sure to add, “I want to be respectful of your time. How much time do we have?”
  • Make sure you engage with all parties, not just one person. Time and time again I hear agents say, “Well, the husband really liked me and wanted to work with me but the wife obviously didn’t warm up to me at all.” That’s probably because you focused all your attention on the husband! Learning to engage equally with two or more individuals live is a skill you can – and must! – learn. Be very conscious of this when you’re meeting someone live.
  • Ask relevant questions and get people talking. Effective communication which builds and cements relationships is asking a questions such as, “What was your last experience in selling a home?” This kind of question opens the door to engagement, and allows the seller to feel involved in the conversation and the process.
  • Leave a phenomenal first impression … and a final impression. If you come into the listing presentation with your portfolio case of tools (and trust me, showing up with a simple portfolio case already has the seller wondering what you have in there), with a great smile, handshake, and introduction, this leaves a memorable impression. What is the last thing you say to somebody before you leave that intrigues and engages them? If you don’t have that figured out, think about what that looks like and what materials you are leaving with the seller at the end of the presentation that will make them want to pick the phone back up and call you if they aren’t ready to sign the listing agreement at that first meeting.
  • Appropriate and timely follow-up. So many agents who start out well with the first four points fall down miserably here. They’re great in front of the potential seller, but if the listing agreement isn’t signed there and then, there must be a plan for ongoing follow-up. With most agents, it is out of sight - out of mind. But it is the agent who puts together great material to send whether it is for days or weeks after the listing presentation who will likely put up the “for sale” sign in the seller’s front yard. Make the time or energy for stellar follow-up or all the time and energy you put into your pricing research for the initial presentation will be for naught.

There is no doubt that an agent who can implement the “whack-a-mole” style of handling objections will quickly be able to master the discussion about price with a seller. Especially when equipped with all the research and tools we provide in The Pricing System. Agents who are confident and have their toolbox can instantly be elevated to “expert” status.

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

Let Quality of Life Be Your Guide in 2013… and Beyond

Anyone who knows me knows that I have a long-held belief that the first, and the most important thing in your business, is creating quality of life.

As we wind down 2012 and head in to 2013 I want to encourage all of you to think about your quality of life.

What do I mean by quality of life? If I had to define it simply it would be happiness that is created when there is a good balance between your personal and professional lives.

Sociologists study quality of life in their quest to better understand the world in which we live. They look at things such as wealth (or the lack of it), health, political stability, job security, the safety of the community, divorce rates, equality issues (gender, race, sexuality), and even climate and geographical influences. They have many complicated indices they use to analyze quality of life.

For me, there’s a much simpler way. I just listen to my gut.

I learned my lesson about quality of life the hard way … but boy am I glad that I learned it. Back in the day when I was actively selling, I routinely closed in excess of 125 transactions per year – most of them as a listing agent. This was before we had electronic key boxes, so as a listing agent I had to open my listings up for each and every buyer’s agent who wanted to show the property, and of course each time I wanted to show one of my listings (or someone else’s) that meant I was out showing. And it wasn’t the kind of market where you put a house on the MLS and four hours later you had seven offers.

I know, I know. You’re probably all wondering how I did it. Or maybe you’re doubting if it could even be done. I’m here to tell you that it can – but at a price. And it’s not a price any of you should pay.

For me, my “I’ve had enough” moment came when I was late arriving home one Christmas Eve. Yes, Superwoman (that’s how I thought of myself back then!) was out working on December 24th. By the time I arrived home I had missed dinner with my family and the services at church. As I rushed around the house trying to make things right my husband calmly said to me, “You know Denise, five years from now these clients may not even remember your name. But your family will always remember that you missed this time with them.”

Wow. What a sucker-punch to the gut that was. And hearing that honesty from my husband was what it took to put me on a whole new track with regard to quality of life. It didn’t take me long to restructure my business and personal lives. Here is the result:

Today, I set boundaries and rules for my business.

Today, I have times that I am available to clients, and times that I am not.

Today, I communicate clearly with my clients exactly what I can and cannot do for them, and when I am (and am not) available.

Today, I approach each working day with energy, because I know what I have committed to on a daily and weekly basis.

Today, I don’t feel guilty about saying, “I’m sorry, but I can’t do that.”

Today, I schedule a minimum of four weeks of vacation each year, as well as a smattering of three-day weekends.

Today, my family is my priority.

Most of you have a little lull in your business this time of year, allowing you to spend time with family and friends. Doesn’t that feel great? And wouldn’t you like to have the feeling more in the coming year?

I encourage you to spend a little time thinking about your quality of life – what is it today, and what do you want it to be tomorrow? Sometimes all that takes is re-prioritizing. Sometimes it requires adding something to your business. And sometimes it means subtracting. Maybe it just requires a little focus and planning to put yourself first.

I hope you’ll take the time to figure out how to improve your quality of life for 2013. If I can do it, anyone can!

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

Source: thelonesgroup.com

Why You Should Be Doing Annual Client Reviews

I can just imagine the furrowed brows out there as you read this title. You’re probably thinking - what is this “Annual Client Review” that Denise is talking about… and why would I even care about it?

When I was actively selling I was very successful. And I attributed a great deal of that success to the Annual Client Review (ACR) I created for my clients each year.

The Annual Client Review isn’t fun - like a client appreciation event. It’s not glamorous, and it’s not “sexy”. It’s not the latest social media tool.

It’s a good, old-fashioned document that does two important things for you:

  1. It allows you an opportunity to reconnect with your clients in a natural way.
  2. It allows you to position yourself as someone who is watching out for your clients’ financial interests by keeping an eye on the real estate market in their neighborhood.

The ACR is a snapshot of the market at a moment in time, and provides information to your client about the value of their home based on recent sales activity. Please don’t think this is the same as preparing a traditional comparative market analysis (CMA) - it’s not! Instead, the ACR focuses on the relationship that exists between price per square foot and tax assessed values.

I often suggest that my clients complete ACRs for their clients during what is typically a slow time of year - the holidays. Many agents find their business is a little slower at this time of year… and many of them are often panicked when the first of the new year rolls around and there’s no business on the horizon.

There’s no magic to the time of the ACR is completed. You can do it at any time. I liked doing mine in December and early January. My business was slower then, and completing these for clients at this time of year guaranteed that I would get calls from my clients when I needed them most - at that slow time at the beginning of the year. As a result, I always got my year off to a great start.

Some of my coaching clients do their ACRs just as I did - over the holidays. Others deliver the ACR to the seller on the anniversary date of the home purchase. And other do some ACRs each quarter. It doesn’t really matter when you do them, it matter that you do them at all!

I’m often asked why I think the ACR is so helpful in cementing relationships with clients. As I mentioned above, it allows you a natural opportunity to make contact with clients, which is especially important if you haven’t been good about keeping in touch. It also positions you as someone who has their finger on the pulse of the market, and that’s always a good thing. Finally, you’re delivering information not when you’re trying to “win” their business (as is often the case with the CMA you present at a listing appointment), but simply to provide information that a client might find beneficial. That’s great client care!

When my coaching clients hear about ACRs they’re usually excited to get started… but then their fears set in. Agents have legitimate concerns about how much work is involved, how long it will take to complete an ACR, or because a client’s property is not worth what it was when they bought the home.

These are all legitimate issues. Let me share a few thoughts to put your mind at ease.

  • ACRs require a lot of work.  Yes and no. They require some work, but not as much work as a CMA. I believe 100% in the value of an ACR, and if I were actively selling today they would be a cornerstone of my client care program. And I think you all know that anything of value that you provide is going to require some effort on your part.
  • You don’t have to do an ACR for each client each and every year.  I did, and I think that’s the best plan of action. But if you have a lot of past sellers, or if you’re short on time, you could create ACRs only for your clients who bought in the past year. Or put clients on a rotating cycle - perhaps you’ll do an ACR every three years for them. You may even choose to do them annually for some clients, and less often for others. It’s your business, so you get to decide when to provide the ACRs.
  • There will be cases when the value of a client’s home has decreased.  There’s just no way around this. But your clients don’t live in a vacuum - they surely have heard that the real estate market took a tumble, and that it’s climbing back up. For all you know, they could be imagining a far worse scenario than is realistic. Wouldn’t it be nice to be the hero who provides good news? But whether their value is up or down, if you want to be the agent of choice you had best provide that information to them.

I hope that you’ll think about providing Annual Client Reviews for your clients!

You can receive my Annual Client Review Client Care System, which includes the manual and instructions for successfully completing the ACR, as well as the editable Publisher files and tutorials for just $97. My Club Zebra PRO members can purchase this system for only $77 (if you’re not a Club Zebra PRO member and you want to learn more, click here).

This system includes everything you need to reconnect with your clients powerfully - using the Annual Client Review!

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

Source: thelonesgroup.com

Converting Leads: Closing When You’re a Supporter

Last week I presented an overview on personality styles, and presented the idea that the way you close should vary based on the personality of the client.

This is my final Zebra Report in my series on closing strategies based on your personality style - and that of the clients you are trying to close.

If you missed the previous three weeks, be sure to review the Zebra Reports on closing strategies for Promoters, Controllers,  and Analyticals, where I shared effective strategies for closing clients if you were one of those three personality types.

I started this series with my statement that, if you try to convert, and “close” with the same message, and in the same style for each and every client, you’re not going to be very successful.

Each week I’ve looked at a different personality type, and offered some insight as to how to improve your ability to close. This is all based on my thought that, to be effective at closing, you must camouflage your natural style so you can address the style of the person you are trying to close.

Of course, this means you have to throw away those formulaic scripts you’ve been taught along the way. You don’t need clever acronyms to lay out the path of a discussion with a client. Instead, you need to understand the personality style of the person you are talking to, and adjust accordingly.

When I started this series I talked about my estimate that 80-85% of all agents are Promoters and Supporters. There are many, many Supporters in this business, and this week I want to focus on those of you who fall in that category.

A Supporteris the ultimate people person. Warm, caring, and nurturing, a Supporter’s life is often an intertwining series of emotional interactions with the people in their lives. Supporters seek harmony in their lives, and appreciate excellence. They’re cooperative and loyal individuals.

If you’re a Supporter it’s likely you:

  • Are actually a natural salesperson, but don’t realize it
  • Require a great deal of preparation to feel comfortable
  • May be repetitive or routine when answering questions
  • Might be low-key, and lacking in outward enthusiasm
  • May miss buying signals because you are focused on minor objections
  • Take a client’s resistance to making a decision personally
  • Are not forceful enough
  • Are more focused on service than sales
  • Fear closing more than any other type of personality

Does that sound like you? If so, here are my tips for helping you close all four personality types.

When Supporters are trying to close Promoters they should:

  • Accept the openness and friendliness of the Promoter
  • Be careful that they don’t waste time
  • Not get bogged down with details
  • Close based on ego, not product
  • Close more quickly than they feel is appropriate

Promoters don’t need a great deal of product detail to make decisions; in fact, their decisions are often based on the emotional “dream” rather than reality. To be successful you will need to close before you feel each and every necessary fact has been discussed.

Next up are Controllers, the personality style based on efficiency. Controllers don’t want you wasting their time, and are looking for a high level of information. Don’t waste a Controller’s time, and don’t even think about selling them a “dream” - the only dream they’re probably having is that you’ll hurry up and get to the nuts and bolts of the situation. Perhaps more than any other group, Controller buyers should not be shown every possible home on the market. This is a group for which you must preview homes prior to showing.

To successfully close Controllers, you’ll need to:

  • Be yourself, but with an added exterior show of confidence
  • Recognize and accept their sometimes aggressive style
  • Put aside your feelings of intimidation
  • Forget about bluffing if you don’t know an answer
  • Close sooner and harder than you are naturally comfortable with

Let’s talk a bit about Supporters and Analyticals. If you’re a Supporter trying to close an Analytical a few simple rules will help. To be successful, you’ll need to:

  • Be friendly, but not overly so
  • Answer questions confidently
  • Give facts - more facts than you think are necessary
  • Keep from getting discouraged by questions and skepticism
  • Keep control
  • Present both sides and multiple options
  • Close earlier than you expect

Remember, Analyticals crave data and simply will not make a decision without it.  This is the group that never buys the first house they see (or hires the first agent they talk to). Analyticals need to feel that they are making the “right” decision.

Finally, you may be working with people who are also Supporters. While it seems like it would be easy to sell to someone with a personality style like yours, that’s not always the case!

How to close a Supporter?

  • Be friendly, but also be sure you’re perceived as an expert they can trust
  • Be confident and assertive, without being overly aggressive
  • Prove reassurance for them
  • Don’t wait until they are completely comfortable
  • Keep the pace slow; allow time for the facts to be fully digested
  • Don’t provide too much detail
  • Close with emotional assurances

I hope you’ve enjoyed this series on closings and personality styles. And if you haven’t yet taken your free personality assessment today, take the five minutes you’ll need to complete it today.

Finally, I would love to hear how you’ve put this information to use in your business. Send your stories my way!

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

Source: thelonesgroup.com

Converting Leads: Closing When You’re an Analytical

Last week I presented an overview on personality styles, and presented the idea that the way you close should vary based on the personality of the client.

Over the past two weeks I talked about closing strategies for Promoters and Controllers, and provided strategies for effectively closing clients if you were one of these two personality types.

As a review of those Zebra Reports, my thoughts on closing are this: there is no such thing as a one-size-fits-all closing formula. If you try to convert, and “close” with the same message, and in the same style for each and every client, you’re not going to be very successful.

So how can you be effective at closing? By camouflaging your style, and becoming effective at addressing the needs of the personality style of the person you are trying to close. Doing this will greatly increase your success. Please throw away your scripts, and focus instead on not letting your personality dominate your interactions with clients.

When I started this series I talked about my estimate that 80-85% of all agents are Promoters and Supporters. That leaves 15-20% of you who are Analytical and Controllers, and it’s probably split about 50-50 between these two groups… or about 7% to 10% of the agent population.

I’m going to talk this week about Analyticals, and offer solutions for those of you who fall into that personality category. If you haven’t taken our free proprietary Personality Assessment I encourage you to do that so you can start to take advantage of the information I’m sharing.

Analyticals get a bad rap in this business. Time and time again I hear brokers who are recruiting agents feel that Analyticals won’t make good agents. And some Analyticals themselves feel that way because they don’t fit the image of a “salesperson.”

I couldn’t disagree more! Analyticals can make phenomenal agents; like any personality type, they just need to learn to play to their strengths.

If you’re an Analytical, it’s likely you:

  • Sell on facts and figures
  • Rely heavily (sometimes too much) on data and statistics
  • Ignore the emotional components of decision-making
  • Are skilled at follow-up and follow-through
  • May over-evaluate
  • Wait too long to close

Does that sound like you? If so, here are my tips for helping you close all four personality types.

When Analyticals are trying to close with Promoters they should:

  • Try to increase the “fun factor”
  • Be friendly and open
  • Show enthusiasm for the product or opportunity
  • Sell to the person; don’t just sell the product features
  • Be careful not to bog people down with details
  • Close before they think it’s time to close

Because Promoters want personal recognition, and need to be liked, you will lose them during closing if you focus heavily on information. Remember, Promoters buy “the dream”, not the data. Promoters are the group most likely to purchase with minimal product knowledge, so you don’t need to spend time convincing them of the correctness of their decisions.

Supporters are warm and fuzzy people-lovers who need an emotional relationship with a salesperson, coupled with a high level of trust. Without it, they won’t move forward.  Although they need proof as part of their decision-making process, they still do not want quite the level of detail an Analytical would want to provide. Remember that they need a series of smaller decisions to lead them to a larger decision, so don’t provide mounds of data at one time.

How to close a Supporter?

  • Be friendly
  • Earn their trust through a combination of relationship and data
  • Keep the pace slow to allow time to digest information
  • Don’t provide too much detail
  • When closing, make the decision uncomplicated and provide lots of reassurance

You’ll also need to learn how to close Controllers. To do that, you’ll need to:

  • Forget trying to impress them with piles of data
  • “Bottom line” it; concentrate on the high points and summarize key details
  • Ask specific “what if” questions
  • Provide alternatives and choices
  • Disagree with facts, not the person, in the event of conflict
  • Don’t try to build a close personal relationship
  • Keep in mind the ego of the Controller, not the merits of the product, when closing

Analyticals often find it difficult to close Controllers. While they have in common the fact that neither is typically thought of as a “people person”, in many ways Analytical and Controllers are quite opposite in terms of pace and the way in which they make decisions. Analyticals should be efficient when closing Controllers, but should be careful never to direct or order a Controller.

Finally, you may be working with people who are also Analyticals. While it seems like it would be easy to sell to someone with a personality style like yours, that’s not always the case!

If you’re an Analytical trying to close another Analytical you need to:

  • Be accurate, realistic, straightforward, and direct
  • Keep control
  • Provide tangible evidence of claims
  • Allow time for decisions and verification of data
  • Be persistent, but don’t push too hard
  • Be organized
  • Make an effort to be friendly and personable
  • Present options based on data and the client’s goal
  • Close before you think it’s time to close

Analytical buyers will never buy the first house they see, no matter how perfect. They need to see them all so they know they’ve made the right decision. When showing, save the home you feel is the best fit for last. And when vying to list an Analytical’s home, try to be the last of the agents they are interviewing.

Next week will be my final Zebra Report in this series. I’ll be sharing strategies for those of you who are Supporters. Watch for that information – and don’t forget to take your free personality assessment today!

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

Source: thelonesgroup.com

Converting Leads: Closing When You’re a Controller

Last week I presented an overview on personality styles, and presented the idea that the way you close should vary based on the personality of the client.

Seems simple, right?

The truth is many agents are taught to close the same way - by using a formula that’s supposedly “foolproof.” I’m here to tell you there’s no such thing as a one-size-fits-all closing formula. As I said last week, if you try to convert, and “close” with the same message, and in the same style for each and every client, you’re not going to be very successful.

When you are working with clients and trying to close them, you must remember to “camouflage” your personality. Your focus shouldn’t be on a script, it should be on making sure that your message - and the way you deliver it - is attuned to the listener.

Remember last week when I talked about four personality styles - Promoter, Controller, Support, and Analytical, and how I estimated 80-85% of all agents are Promoters and Supporters? Last week we focused on how to close if you are a Promoter.

This week I want to talk about closing strategies for Controllers. Controllers are those agents who are very focused on efficiency. They work at a fast pace, and are highly results-oriented. These are not the agents who give off a warm and fuzzy vibe. In fact, Controllers are often seen as a bit rigid and prickly… and as a result they have to be very careful when closing as its possible they’ve moved too quickly for the client.

If you’re a Controller personality, it’s likely you:

  • Are confident
  • Don’t like to spend time with supportive information
  • May fail to listen adequately
  • May dominate the discussion, especially when talking to Supporters
  • May try to overpower minor objections
  • May get defensive and react disproportionately
  • Like to sell, but don’t like the warm and fuzzy service side of the business
  • Try to close too soon

Sound familiar to those of you who are Controllers?  If so, here are my tips for helping you close all four personality types.

When Controllers are trying to close Promoters they should:

  • Be open
  • Be friendly
  • Take the time for personal interaction; don’t close too quickly
  • Support the Promoter’s ego
  • When closing, show personal benefits to the Promoter

Promoters want personal recognition, and to be liked. They enjoy socializing as part of the sales process. They really don’t want to see lots of details, and will often buy with minimum product knowledge. They are interested in showy or status-conscious products, and in talking to them you should focus on “the dream.”

Supporters need to feel an emotional connection, and they need time to make their decision - one that’s supported with proof. They want to be your friend, and need to feel a high level of trust with a salesperson before they will move forward. Supporters are better at making a series of small decisions rather than one large decision, so keep that in mind in working with them. They’re not innovators, and like making safe decisions that don’t require them to go out on a limb.

How to close a Supporter?

  • Keep the pace slow
  • Provide support and assurances
  • When closing, make the decision uncomplicated and provide lots of reassurance

You’ll also need to learn how to close Analytical types. These are the clients who are extremely detail-oriented. Because they require lots of time (and lots of data), closing an Analytical requires care.

  • Answer questions directly
  • Provide detail (not just what they’ve asked for, but also other supporting information)
  • Encourage time for evaluation and validation of data
  • Be patient; do not try to close quickly
  • When closing be firm, polite, and decisive

When you’re working with an Analytical you may find they don’t talk much… but they may ask a lot of questions. They need a great deal of proof, and background information, to provide the correct frame of reference for their decision. More than any other type, Analyticals may seem suspicious of you and your motives. Analyticals need all their questions answered before making a decision. Analyticals won’t buy the first home they see, even if it’s perfect for them. Ditto for hiring a listing agent; an Analytical will want to interview multiple agents, then carefully analyze the best fit based on all the information provided.

Finally, you may be working with people who are also Controllers. While it seems like it would be easy to sell to someone with a personality style like yours, that’s not always the case! Controllers have high egos, and always want to deal with people they perceive are at the highest level. They are looking for quick, competent answers, and they want you to get to the point. If you’re presenting to a Controller, be sure your presentation is efficient and no-nonsense. Controllers are “cut to the chase” kind of people. Their attention span is typically short. A Controller-to-Controller listing presentation is likely to be a short one!

  • Use your natural style to your advantage
  • Don’t let your egos clash
  • When closing, be prepared for conflict - it could become a contest of wills

If you haven’t yet taken our free proprietary Personality Assessment I encourage you to take a few minutes to complete it so you can take full advantage of the information that I’m sharing in these Zebra Reports.

In the coming weeks I’ll be sharing strategies for those of you who are Analyticals and Supporters. Watch for that information in future Zebra Reports!

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

Source: thelonesgroup.com

Successfully Converting Telephone Leads

Two weeks ago I talked about converting internet leads and last week I talked about converting “live” leads. Today I want to talk about converting telephone leads.

By far the most difficult lead to convert is the telephone lead, but agents who can master this type of lead conversion can double or triple their results with very little effort.

You probably won’t be surprised to hear me say that the way to successfully convert telephone leads is to differentiate yourself. Differentiation is a key concept that runs through my coaching and training of real estate agents.

But how do you differentiate yourself on the phone?

It’s easier than you may think!

Don’t think of the telephone as a one-way communication device or ordering system for a potential buyer. Often, when we get a call it’s a potential client asking how big the bedrooms are, what the homeowners dues cover, or whether the house is in a certain school district. My point is that the caller is looking for specific data about the listing.

Let’s imagine you get a sign call from a buyer asking about the price of your listing. Of course there should be onsite marketing such as flyers that would provide that information, but let’s pretend all the neighborhood children have taken your flyers and made paper airplanes out of them.

The tendency is to answer, “It’s $450,000.” And then the conversation sort of dies. You try to flog it along by asking questions like, “Do you want to see the house today?”, or “Having you been looking for houses long?” or “Are you working with an agent?”

Instead, try this approach. “Thanks for calling! I would love to share some information about the home. It’s listed at $450,000. Is that in your price range?” If they answer yes, you would respond with “Not only might this house meet your needs, but there are some other great options I know of as well. I would be happy to send you all of the listings in your price range that I think are a great value. Would you find that helpful?”

With this simple offer you’ve elevated yourself from a robotic responder or a pushy salesperson to a helpful professional who is familiar with inventory in the marketplace. You’ve offered a natural extension of the conversation should they be inclined to chat. And you aren’t asking them all sorts of questions that you haven’t earned the right to ask. People don’t like pushy salespeople, so don’t be one!

Converting telephone leads requires you to develop some sort of relationship during the time you’re on the phone with them. You must convince the caller that you can offer more than other agents.

What can you offer? Here are a few suggestions:

  • An appreciation analysis of the neighborhood
  • Average market times for homes listed in the area
  • Listing and sales prices for the community over the last three years

Do you think most agents are offering this level of service? I can guarantee you they are not!

Building a relationship over the phone is about giving, not taking. You have to be good at picking up on the clues, and being aware of when someone is open to sharing more information. Most importantly, you have to have the mindset of giving information, not taking it. That one simple concept will help you immensely in handling phone leads.

I’m often challenged by agents who think it’s a mistake to offer information about a house other than the one a buyer is calling about when placing a sign call. They’ve assumed that I’m responding to a question about one of my own listings, and the general feeling is that my seller wouldn’t appreciate me not giving a big sales pitch for their home by also talking about other homes on the market.

If you’re concerned about this here’s an easy way to prevent misunderstandings with your seller - just tell them up front, during the listing appointment or early in the listing, that you may get a phone call about the house and what your process is for talking to potential buyers about the home. Explain that you will send information about their home and others that might work for a potential buyer, and that the shoe is sometimes on the other foot. There could also be a time when a potential buyer calls about a different home and you will also send information about the seller’s home - even though it’s not the one the buyer called about. It’s good to remind sellers that buyers don’t like aggressive sales pitches… and that leads often need to be cultivated by being a good resource - not just a salesperson.

So remember when responding to telephone leads: give, give, give. Don’t interrogate. Offer information that no one else is offering. And don’t push or expect information from a potential client that you haven’t earned the right to receive.

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

Source: thelonesgroup.com

Successfully Converting In-Person Leads

After my Zebra Report last week on converting internet leads agents reached out with many comments. I was actually surprised to hear that many agents have sworn off pursuing internet leads because of bad experiences, and who want to go back to the good, old-fashion method of being live in front of potential clients.

But they tell me they’re having trouble converting these live meetings into working relationships with clients.

Some agents are masters of this kind of conversion. No matter where they meet people, or how unrelated to real estate their first meeting may be, they walk away with a client.

How does that happen?

You’re probably thinking that those agents are charming, or have enormous personal charisma. I disagree! More likely it’s that these agents have - consciously or subconsciously - have mastered five simple skills required to converting live leads.

Let me share those five skills with you:

  1. The agent is skilled at reading body language. If you are clueless about body language, take a class at a community college, or do a little research online! Understanding body language is absolutely critical in converting in-person leads. You must understand what someone’s body language is asking for. Are they pushing? Pulling? Giving? Taking?  And are you responding appropriately - both verbally, and with your body language?
  2. The agent engages with all parties, not just one person. Time and time again I hear agents say, “Well, the husband really liked me and wanted to work with me but the wife obviously didn’t warm up to me at all.” That’s probably because you focused all your attention on the husband! Learning to engage equally with two or more individuals live is a skill you can - and must! - learn. Be very conscious of this when you’re meeting someone live.
  3. The agent has the ability to “close.” I’m not talking about asking someone, “Are you ready to buy this house?” or “Are you ready to sign the listing papers today?” Effective closing which builds and cements relationships is asking a buyer questions such as, “Would you like me to show you what is happening with appreciation rates in this area?” This kind of closing question opens the door to engagement, and allows a potential client to feel involved in the conversation and the process. Closing in this way forces clients to think in an action-oriented manner… and that action can take them to you!
  4. The agent leaves a phenomenal final impression at the first meeting. What is the last thing you say to somebody before you leave that intrigues and engages them? If you don’t have that figured out, I suggest you quickly do so.
  5. The agent has appropriate and timely follow-up. So many agents who start out well with the first four points fall down miserably here. They’re great in front of the potential client, but they lack great materials to send or they simply don’t make the time or energy to do so. Be sure you’re willing and able to commit to following up or all your hard work will be for nothing.

And my final tips? Be yourself, relax, and enjoy the interaction! For many agents, converting leads in person will be the route to success in this business!

Next week’s Zebra Report will focus on converting telephone leads, so be sure to watch for that!

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

Prequalifying Clients… It’s Not Just for Buyers!

Last week we hosted an event completely focused on listing presentations, and helping agents understand how they can win at the listing presentation.

I was thrilled at the response (we were completely sold out and had to turn people away at the door!) because it confirmed two suspicions I had: 1) agents are struggling at listing presentations, and 2) agents aren’t getting great training on this critical topic.

Based on the questions we had at the event, it was clear to me that most agents don’t do much (if any) prequalification of sellers. It seems as though many of you are taught to prequalify before getting in the car with buyers, but that same philosophy isn’t extending to the listing side of the business.

Qualifying your seller is an important part of the process. Too often, we get a call from someone indicating they may want to list their house, and we drop everything and dash over. I truly believe agents don’t put the same level of care and energy into qualifying sellers that they do with buyers.

Agents typically feel they’ve qualified the seller if they ask questions such as, “What is your timing for selling?” or “Why do you want / need to move?” without probing further. These questions only scratch the surface of what is driving the seller’s decision to move.

When you truly qualify a seller you are discovering not only surface answers but also a seller’s concerns and worries. Surface questions don’t uncover expectations. And believe me, it’s critical to understand what expectations and concerns the seller may have. These are what I call “pain points,” and if you don’t know what they are you may never get the listing. Even if you do, you could be blindsided when the pain points rear their ugly heads later.

Most agents don’t want to do more than scratch the surface. They avoid the pain points because they don’t like conflict or they simply are worried about how a seller might react if pushed to a deeper discussion. When you avoid tough questions you are not getting the information that could help you most - the pain points.

Here’s what I recommend you ask a seller when you are called to go on a listing appointment:“Have you got a quick 10 minutes for me to ask you a few questions about your house and your situation?”

Assuming the seller agrees, you need to use the three magic words: ”Tell me about…”

  1. Tell me a little about your house (always start here because people are more comfortable talking about things rather than themselves).
  2. Tell me a little about why you want/need to move.
  3. Tell me about your timing.
  4. Tell me how much you currently owe on your mortgage.
  5. Tell me about your expectations for selling.

You now have a wealth of information regarding a seller’s position, motivation, and expectations. The information you receive will not only help you determine whether you should even go on the listing appointment, but will help you know how to position your services.

But let’s imagine when you asked for 10 minutes of their time the seller was unwilling or unable to talk. I then suggest you say, “I completely understand. Can you make a little time later?” A seller who says “no” may truly be very, very busy… or it could be a red flag that there is a challenge which you may or may not be interested in taking on. If you decide to go on the appointment anyway, you need to ask the same five questions I outlined above - and make sure you ask those questions right at the beginning of the listing presentation.

There’s one additional question you must ask sellers when you are at the listing appointment:

“Is there anything you feel I may need to know that’s relevant to the sale of your home?”

When I’ve asked this question I’ve gotten information I would never ordinarily have received. For example, one seller told me that he had terminal cancer and that he wanted the home sold before he passed on so his family wouldn’t have to deal with it after his passing. Another client shared that the parent sitting in the room with them wasn’t on title, but had helped with their down payment money and as a result would be involved in the decision to sell.

Do you think those pieces of information were useful? You bet they were! They completely changed the dynamic of our meeting, and may not have been something the seller would have volunteered without my prompting question.

Remember the three magic words of qualifying  I mentioned earlier: “Tell me about…”You can and should use them throughout your discussion with sellers. That might look like this:

“Tell me about your concerns.” “Tell me why you think your home is worth $500,000.” “Tell me about the process you’ll use to select your listing agent.”

“Tell me about…” allows your clients to tell their story. They’re less likely to leave out information when they’re sharing their thoughts rather than being asked a series of scripted questions. “Tell me about…” is also beautiful because you don’t need to know the exact question to ask - it allows you to get the conversation moving forward if you’re aware there’s an issue but you’re not quite sure what it is.

To summarize, here are the five biggest mistakes agents make when qualifying sellers:

  • They only ask surface questions - the same questions everyone asks.
  • Their pace is off. They talk too fast or too slow, and don’t match their speed to that of the seller.
  • They take everything at face value because they listen to what is being said but don’t hear the deeper part of the message.
  • They allow the seller to the end conversation before itshould be ended and before they’ve obtained all the information they need.
  • They hop in their car and immediately go to a seller’s home without being properly prepared… and without qualifying the seller.

If you can learn to master seller qualification you’ll go a long way toward understanding a client’s concerns and motivation. That information is exactly what you need to determine if you want to work with the client and (assuming you do) how best to address client issues and position yourself as the agent of choice.

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

Source: thelonesgroup.com

Eight Tips to Building a “Belly-to-Belly” Business!

As I was thinking about this week’s Zebra Report I posed a question to myself: Is real estate still a belly-to-belly business?

That’s what we used to call it in the old days. Back then we didn’t have email, we didn’t have online MLS systems, we didn’t have electronic key boxes, and we didn’t have cell phones (let alone today’s smart phones).

Being belly-to-belly (or face-to-face) with your clients forced agents to be good at things that were critical in building client connections. You had to be able to develop rapport, you had to be a good listener, and you had to learn to pick up on the cues your clients gave you.

In today’s world, what passes for a “connection” is pretty different. You may be connected to hundreds - or thousands - of people on Facebook or Twitter who you’ve never met.

Is that a connection?

I don’t think so. If you strip away all the peripherals - the smart phones, the software, the social media - what are you left with? If you’re lucky, and strategic, you’re left with honest-to-goodness relationships with people. And it’s people who keep you in business.

The more we’ve relied on technology, the further we’ve gotten away from human connections. If we deliver our news, both good and bad, via email or text rather than live or on the phone, we’re missing valuable opportunities to connect with our clients. I know all the reasons you’ll tell me you take that route… not enough time, “my clients prefer that”, “it’s easier for me if I’m working with a lot of people” - and I hear you. I just don’t agree.

How much better could your life (and your business) be if you took the time to really connect?

Eight Tips to Help You Connect

  1. Ask questions. You don’t have to interrogate clients under klieg lights, but rather than present them with a big sales pitch how about simply opening up the lines of communication by asking questions that help you get to know them better?
  2. Remember it’s not all about you. Your clients don’t care if you received the President’s Award six years in a row or if you are the top agent in the office. You might think they do, but that’s just a lie you tell yourself to feel important. Instead of bragging about the titles you receive, try talking about how your skills have helpedpast clients.
  3. Talk about yourself.  I know, I just told you not to brag about your awards. However, if you want to connect, you need to share something about yourself in the normal course of discussion. That might be that you breed West Highland Terriers or that you coach your daughter’s Little League team. Personalizing the face of your real estate business can help a client feel more comfortable, and will help build rapport.
  4. Build in time for live meetings. I’m not saying you have to give up your cell phone, just be sure to occasionally meet with your clients live. That’s equally importantwhether you’re delivering good news or bad news. I’m not talking about random “pop-bys” where you’re interrupting your clients at home or at the office. Offer short live meetings, and be sure they’re at your client’s convenience - not yours.
  5. Pretend your business is a corner store. Don’t you love the feeling you get when you walk in to a store and the owner remembers your name, or something about your family? Sometimes we’re so worried about appearing “professional” that we come across as unapproachable. Getting to know your clients on a personal level - and then acknowledging what you’ve learned - can pay off in spades.
  6. Selling is like dating. Don’t be a player. You don’t ask someone to marry you on the first date. So don’t be “closing” clients the minute you meet them. Give freely. Share information without expectation. It will come back you!
  7. Use the “two-two-one” rule. There’s a reason you have two eyes and two ears, and just one mouth. Keep that in mind when building relationships, and use those gifts in the same proportion they were given to you.
  8. Cultivate patience - loads of it. You’ve probably heard the story about how employees are trained at Disneyland. The number one question asked by visitors: “Where is the nearest bathroom?” Imagine working in an environment where you are probably asked the same question a thousand times a day, hundreds of times a year. Disneyland employees receive special training that helps them to respond to repetitive questions as though it was the very first time they’d been asked. Of course youunderstand the timelines and complexities of real estate transactions - it’s your job, after all. But for the average buyer or seller who moves every five to seven years, things aren’t so obvious. After all, you probably couldn’t enter your client’s world and understand what they do, could you? Be sure to be as patient with your client as they would need to be with you if the shoe was on the other foot.

There’s no doubt that your personal and business lives will be richer when you learn to connect, rather than relying strictly on technology to build “relationships”.  Give it a try, and see if you don’t have results!

How are you making connections? Do you have something special that works for you? Let me know - I’d love to hear!

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

Source: thelonesgroup.com

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