100% commission real estate agents sales tips. A recent Quora forum asked, “What separates the best from average sales persons”. The best answer referred to a recent Harvard Business Review study explaining “what distinguishes good salespeople from great”.
The following takeaways from this study reveal:
Fewer High-Quality Relationships Trump Many Low-Quality Ones
Too many salespersons kill opportunities by focusing on lots of relationships including too many low-quality ones.
Establishing high-quality relationships with just a few provides greater opportunities for success.
Wasting time on too many deals spreads yourself thin and hurts your closing rate. Too many prospects that are not a good fit drag you down.
Making Good Relationships Count
According to the Harvard study:
Top performers maintained larger and better quality relationships networking within their organization than those outside.
Taken in the context of a real estate brokerage, networking with other agents within the brokerage may lead to more opportunities than networking with outsiders.
How many top 100% commission agents do you know are too busy to handle all of their prospects? Teaming up with a top agent to relieve the workflow leads to commission sharing resulting in greater income.
Hard Work Produces
Sales productivity can be elastic. If a salesperson saves tons of time, that doesn’t mean he or she closes tons of more deals. That’s because salespeople must try to increase productivity rather than saving time.
Sales success is measured by effectiveness. Therefore, a half-done deal might as well not be any deal at all. It’s all or nothing, people.
Focus on establishing high-quality relationships. Start with your brokerage. Offer to help your top producing colleagues to save them time and not lose prospects. Teaming up with successful 100% commission agents helps them to be more efficient while increasing your income by sharing commissions.
Sales success depends upon effective productivity.
What Makes Great Salespeople
Most people assume that great salespersons must be slick, charismatic, outgoing alphas. That’s wrong.
While some people naturally possess the DNA of a successful salesperson, others can learn and master the craft of sales.
Learn the following sales skills:
Compassion: Learn to become compassionate. That’s someone who understands human psychology and cares about other people.
Following Up and Through: Learn concise pitches with great follow up and following through. In other words, you can learn to be concise in your pitches, follow up on them all the way through.
Rejection: Train yourself to accept rejections.
Essential 100% Commission Real Estate Agents Sales Tips
1. Don’t Over Sell
A real estate agent’s job isn’t to sell. You should be facilitating and coaching your clients.
When a buyer feels pressured or “sold” he or she feels resentment towards the agent. Instead, advise, educate, keep buyers focused on their goals as told to you. Put the needs of your clients ahead of yours.
2. Hard Work and Honesty Pays Off
The key to succeeding simply boils down to hard work and honesty.
If you don’t know the answer to a question don’t pretend you do. Your best asset is your reputation. Assure your clients you can get the answer and follow-up with one. Never lie.
3. Create Value
Focus on creating value for your clients.
This creates trust which is your greatest asset in sales. Trust fosters good client relationships leading to more opportunities.
4. Offer Options
A trusted advisor presents multiple options to potential clients.
Guide your clients to the best option. Never push an option on them. Letting your clients feel like they made the right choice based on your options creates loyalty.
5. Hit Everything Thrown Your Way
Like baseball, try to hit every pitch thrown at you. But, trying to decide if the pitch is a ball or a strike slows you down. Develop an “I don’t care what pitch is thrown at me, I will hit it” attitude. This baseball advice carries over into sales.
Don’t worry about challenges thrown to you, try to solve all of them.
6. Be Human
Too much emphasis on sales training focuses on getting the “prospects” to act your way. Make the sale, sign the contract. This is not salesmanship.
Remember, your ultimate responsibility is to serve your clients.
Trying to win your goals and not theirs creates distrust. A mindset of helping your clients attain their goals builds trust. Serve your clients and success follows.
7. Create Equity
Paying rent never creates equity.
Owning property creates equity. Borrow from your real estate’s equity to grow another business.
8. Obsession Over Average
Become obsessed with getting your clients the best service.
Become obsessed with providing your clients with the highest level of service. Be obsessed with solving your clients’ problems. These types of obsessions lead to your business growth. Too many salespersons lack obsession and clarity. You can’t find a great salesperson not obsessed.
9. Listen and Learn
A good listener is a key to sales success.
Listening demonstrates you care. Understanding a prospect’s wants and needs helps you to provide a solution. At times, buyers simply need to convince themselves of what they want or need. You need to listen and validate what they tell you.
10. Ready to Help
A mindset of always wanting to help people leads to sales success.
Help clients with your expertise, knowledge, or skills. Your reputation soars when clients think of you first when they need real estate professional services.
11. Provide Solutions to Clients’ Challenges
Distractions from achieving goals create barriers to success.
In real estate, the most challenging barriers include property development. Helping your clients to remove complicated barriers like real estate development becomes essential for closing sales.
For example, a prospective buyer asks about zoning restrictions for a specific development project. Your research into the particular zoning designation for the property and consulting with development experts leads to an answer which solves the problem and the sale occurs.
12. Activity Leads to Results
The more networking events you attend, the more calls you make, the more emails you send, and the more follow up you do, leads to better sales results.
Tracking your activities present a clear picture of how much you actually do that generates sales. While meetings and brainstorming sessions help, only activities directly related to more new business drives sales.
13. Constant Contact and Communications
No one knows you exist until potential clients see you.
Your name brand needs constant contacts, communications, and advertising which leads to future clients knowing you exist.
You must spend money on advertising to make money. Keeping your name silent means no one knows you exist. Advertising dollars leads to profits.
100% commission real estate agents sales tips provided here focus on developing high-quality relationships.
In addition, start with your brokerage to find and team up with top producers. You can help them to save time and follow up on every prospect. Commission sharing with top producers increases your income.
Business experts advise developing the sales skills mentioned here. Likewise, hard work and honesty lead to sales success.
Compassionate good listeners willing to help clients by providing solutions to their problems precedes success. Remain active, advertise, make contacts and communicate often with potential clients’ guides you to profits.
Steven Rich, MBA – Guest Blogger
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Big Block Realty – 100% Commission Real Estate Brokerage