Posts Tagged ‘real estate sales’

Hot Telephone Prospecting Tips for Commercial Real Estate Agents

January 28th, 2011


The two main ways to win business or listings in commercial real estate in any market are firstly in using the telephone to contact suspects and prospects, and secondly in ‘one on one’ contact. The ‘one on one’ contact ranks higher in success conversions, but the telephone can be used effectively to open the door to the meeting.

Unfortunately not enough agents and salespeople ever do a sufficient amount of either. This can be a massive opportunity for the disciplined salesperson that wants to win commissions and succeed.

So what do you need to develop here? You need great communication skills and unwavering focus on the prospecting task.

The simplest way to develop your communication skills for telephone prospecting is to read aloud each morning and evening for about 20 minutes (any book will do). The brain quickly adjusts to better words and more confidence in connecting with others. You will also like the sound of your own voice and this will help you with communication and conversation as a salesperson. Your voice will improve remarkably. Your telephone calls will improve and you will enjoy using that remarkable tool that you have called a voice.

Nothing in the real estate sales world today replaces the high value of personal contact. The more people you contact the more business you will win. Many if not most of the people you approach will reject your offer and you will hear the ‘No not today’ response at least 95% of the time. It is the 5% ‘Yes let’s talk’ response that makes you the money. This is what makes an average real estate agent astounding and a high achiever. You do have a choice here!

The telephone leads to the one on one contact or meeting that you want. So what should you do? Get really focused for every working day and make lots of calls and plenty of face to face meetings. Understand that this process really works if you can take ‘no thanks’ as a frequent response. Just say ‘thanks for chatting’ and move on.

Here are some telephone tactics to get you on the right track.

A set of cue cards in front of you with key questions or comments will keep you on track. Never ever use a fixed script as part of the call as prospects will hear it. Scripted salespeople are rank ‘beginners’ in the ears of a prospect. No one wants to do business with a ‘beginner’. Be yourself in the call. Develop your own personal telephone style and phrases that suit your character. When you are comfortable with what you are saying, the calls will start to convert to more meetings. People hear your ‘call comfort’ and will listen to you. Put listing details and market information in front of you so that you can give facts and figures over the telephone. Be prepared to tell a story or two about the market today. People always listen to stories with greater focus. Get a telephone head-set for use in all your calls. This frees up your hands for making notes but more importantly to gesture and move in the conversation. Movement creates better language (just ask a few people of Italian origin). Stand up during some or the majority of your calls. This helps the voice and the confidence. It has been said that this simple process activates the right side of the brain to be more creative and connecting in the conversation. I just know that it works. Personalise your work space where you make the calls so that your goals and targets surround you. Put a mirror in front of you so that you can see yourself smile as you speak. A simple process but very productive to communicating down the telephone. Use a ‘customer contact sheet’ to write key information as you go. This prevents any delay in moving to the next call. Process your ‘customer contact sheets’ at the end of the call time window, not during it. Remember to get the email detail for the person you speak to in case any future contact can be made. Ask permission to contact them again and record that fact on your database. Qualify a person and their needs if something is potentially active or of interest to them. Do not arrange meetings with everyone you speak to, as you will waste your precious time. Only meet with people that are genuine and have a need today or in the future. Keep in contact at least every 90 days. It has been proven by many high level salespeople that this system of contact with qualified prospects produces more business over time. You get more call conversions to meetings after the second or third contact call. How many prospecting calls should you make daily? About 50 on each and every day. This takes preparation the night before. Get this process sorted and you will win great amounts of opportunity.

Finally and in closing on this most important topic, give due regard to any laws and legislation that may impact on who you call and when you do it. Respect the laws and work within them.

To your prospecting success!

By: John Highman

About the Author:
John Highman is an expert in investment real estate strategy and performance. He is a keynote speaker and performance coach that helps property investors, and real estate agents globally to improve their commercial real estate property opportunities and targets. John has specialised in major commercial, industrial, and retail property for over 30 years both as a Real Estate Agent and as an Investor. He knows what works and what doesn’t. He gives you the ‘good oil’ on getting active and achieving results.

You can get John Highman’s free tips and tools in commercial, industrial, and retail property at http://www.commercial-realestate-training.com



Prospecting For Commercial Real Estate Listings

January 18th, 2011


When you prospect in commercial real estate sales or leasing situations, you will meet with and will talk to many people on a daily basis. The more people you do this with the better. Prospecting is critical to your business growth and listing processes in any market.

It is interesting to consider what prospecting situation you find yourself most often in. The answer is different for everyone as each person has communication preferences and methods of approach that works for them over other standard approaches. It is therefore most important to prospect in the way that suits your character and business style.

Your daily prospecting method should be the thing that works for you and gives you the best results and could be any or all of:

Telephone Door to door Networking events Referrals Face to face contact

In all respects the prospecting and meeting process will be enhanced if you refine it and use a small number of statements that gain the attention of the prospect. We call these statements ‘Prospect Value Statements’ (PVS) and they must relate to you and your commercial or investment real estate market.

Prospect Value Statements

The ‘Prospect Value Statement’ is one of a kind and should match you, your business, and your focus. It should clearly declare and communicate the fundamental reason why your organisation exists and why you’re selling or leasing commercial investment property from the prospects perspective. It is the most important thing that you can learn and use in commercial real estate. That being said, it is amazing how many salespeople in commercial real estate do not master the concept and some never even know about it. The PVS is such an important statement to your conversion process that we will spend time now on it in helping you design your own.

So why is the PVS so important? It succinctly, clearly, and precisely defines what you do and how you do it in commercial real estate. Better still, it does so in a way that your clients and prospects can see and know why they should do business with you. The PVS will tell them that you are better than the competition agents in the market.

The PVS plays a role in just about every business opportunity and prospecting situation that you come across.

Sample of a Commercial PVS

‘We assist our commercial investor clients in the industrial market at Salisbury to find new tenants that match their investment plan or cash flow expectations, and therefore enjoy a more stable occupancy. We do this by canvassing all tenant changes in the region for the coming 3 years and directing deals to the desirable tenants at the right time for our clients.’

Sample Structure of a PVS

‘We assist our commercial clients (companies, tenants, or investors) in the … industry (or business, or market segment, or location) to … and enjoy … We do this by …’

To make this work, it’s important for you to know and really understand what end result benefit you actually deliver to your commercial real estate prospects, customers and clients (be they landlords, tenants or investors). You also need to know exactly what benefit your prospects or clients actually want to gain, enjoy, achieve, or have in this market. Your PVS is matched to the end user of your services at all times.

‘Your PVS will also change over time as it will have relevance to the current market conditions and the pressures that your prospects need resolved.’

So What Results and Benefits do Prospects Need?

Before you start to create a PVS or a series of them for you and your business, let’s define some of the results and benefits that are typical desired outcomes for a client or prospect in a commercial real estate sale or lease situation. Consider your market. What are the priorities of the prospects that you deal with today?

Commercial Real Estate Lease situations:

Stable tenant Good rent Long lease Major tenants Quality tenants Ability to refurbish Make good obligations Growth of rent Stability of rent Sound lease document Resolving vacancies faster

Commercial Real Estate Sales situations:

Quick sale Higher price Confidential sale Method of sale Faster settlement Good enquiry Good promotion and marketing Comprehensive market coverage Sale to investors Sale to owner occupiers

Given these benefits and your market trends now in your location, you should be able to easily construct a series of PVS models that suit the prospects that you deal with. Ideally you should be able to quickly call on 2 or 3 of these statements in any prospecting conversation to match the needs or interest of the prospect you are talking to.

By: John Highman

About the Author:
Need More Help?

John Highman is a prominent investment real estate speaker and coach that helps real estate agents and real estate brokers globally to improve their commercial real estate market share and close more sales and leasing deals. He himself is a successful real estate agent that has specialised in commercial, industrial, and retail real estate of all types for over 30+ years.

Whether you specialise in real estate sales, leasing, or investment, John has the tools that can help you and your office succeed in your market.

Today John Highman gives workshops and keynotes to real estate agents and brokers globally on how to be professionally better than your competition in any market and drive more of the right listings and commissions.

Join John Highman’s global community of commercial real estate agents and brokers. The community can be accessed at http://www.commercial-realestate-training.com



Why Real Estate Agents Should Publish Personal Bios

December 18th, 2010


Real estate is a “people” business – with success depending not just upon technical expertise and skill, but also upon interpersonal relationships.

Because buyers, sellers, and agents work so closely together, trust and even camaraderie are important elements. Having something in common in addition to a real estate transaction helps create that trust, because humans naturally think more of people who are somehow “like them.”

Agent bios can pave the way and help you attract buyers and sellers who are drawn to you because you are somehow like them.

You may be thinking “But I don’t want to limit my audience to people who are somehow like me. I want to attract everyone.”

There are 2 reasons why you’ll be better off if you don’t attract “everyone.”

When you attract those who are pre-disposed to like and trust you, everything will move more smoothly. They’ll be more open to following your advice and more timely in responding when you need their input. When you attract the right customers and clients, you’ll get more enjoyment from your work. You’ll eliminate some of the stresses that are inevitable in real estate sales and will look forward to talking with your clients.

Stop and think about which customers and clients you look forward to seeing, and which you dread calling. The ones who like and trust you are the ones you want to see. The ones who are distrustful, who are critical, and who won’t take your advice can cause you to think of 17 excuses why you can put off calling them or seeing them.

You don’t have to be alike in all ways – and in fact, sometimes just one small detail can be enough to cause a prospect to choose you over another agent. For instance, dog lovers are instinctively drawn to other dog lovers – and have a basic mistrust of those who dislike them.

Your agent bio gives prospective customers an insight into who you really are and draws people to you – or repels them.

But that really is OK. If you give it some thought, you’ll realize that you don’t want customers who won’t like, respect, and trust you. They only make your days long and stressful.

And, on the other side of the coin, you also don’t want customers that you cannot like. If you’re an animal rights activist on the side, you will hate every minute you spend with a big game hunter or a person who runs a “chicken factory.”

If you’re a Conservative, you won’t enjoy being with someone who constantly sets forth his or her Liberal attitudes.

Listening to them and stuffing down your urge to disagree can cause headaches, and even ulcers.

So use your agent bio to let your prospects sort themselves, and attract the customers you really want. Leave the others for agents who will enjoy them.

What should you include? A balance between your professional self and your personal self. Yes, you should mention your experience, your niche, and what sets you apart from other agents professionally.

But then, add a paragraph or two that lets people have a peek at the real you. It can be as simple as saying that you reside on the outskirts of town – where you take advantage of the many hiking trails to exercise your dogs and introduce your children to the wonders of nature. It could be mention of your volunteer work with an organization you support or your secret life as a Blue-ribbon winning creator of original pastries.

You don’t need to offer your life story – you do need to weave your professional and personal lives together to present yourself as you want others to see you.

By: Marte Cliff

About the Author:
Marte Cliff is a Freelance Copywriter who specializes in writing for real estate and related industries.

She’ll help you with your agent bio, one prospecting letter, or an entire marketing plan. For Real Estate agents and brokers who are ready to get full value from their websites, she’ll be happy to put together an entire package – from the web copy to the lead generation packages that make an agent’s phone ring.

For busy agents on a budget, Marte offers pre-written letter sets for use in postal mail or in e-mail continuity campaigns. The current selection includes letters for FSBO’s, Expired Listings, Short Sale sellers, First Time Buyers, and a set for new agents to send to buyers. Read what’s included in these sets by visiting http://www.copybymarte.com/pro/prospecting.html

Marte’s weekly ezine for real estate professionals offers tips and hints for building a successful business. To subscribe, and to see other resources available for real estate sales professionals, visit her at http://www.copybymarte.com