In this section, I will share the sales success strategy that you need to develop to establish yourself as a successful property agent. The following work like a flow chart. Firstly, you need to establish a sales system that is uniquely your own. Next, you will need to understand how typical sales cycle work. Thereafter, you will need to identify your geographical target area and the prospecting sales strategy you need to apply. At the same time, you will need to build up essential skills that enable you to perform your job smoothly. Lastly, you will learn how a sales funnel work before you witness your first closing.
A sales system always begin with an objective. You must possess a strong objective such as supporting your family or seeking financial freedom.
Next, you must train your mind to have the right attitude. A right attitude is essential to your sales success. Many agent dropped out because they do not adopt positive attitude and an open mind.
The next step is to explore what are your strength, which area and segment of the property market are you familiar with and implement the right strategy to suit your needs.
Last and most importantly is to take action. Many agents have great ideas but lack of action. The successful agents usually don’t have much ideas but they take massive action. That different set them apart from the rest.
This is a typical sales cycle. A sale cycle begin from prospecting for clients. Not all prospects will turn into sales. A small percentage of such prospect will need to follow up and convert them into closing. Thereafter, it is important for all salesperson to reinvest part of their earning into their business that can help them to generate more income. The last part of the sales cycle is to stay in touch with past clients. Such warm leads are always better and easier to do then cold leads.
Geographical Target Area (GTA) planning is to plan the type of segment that you wish to establish yourself in the real estate industry. There is a saying in sales. “Do not be the jack of all trades but a master of none!” This is very applicable in property sales. It is important to decided a segment of that you wish to focus on and spend your time and resources to establish a present there. The various segments have its pro and cons. Some segments could be easy to master but the remuneration could be low. Whereas, there are some segments that are difficult to penetrate but rewarding. Ultimately, most property agent that do well usually are good at 2 to 3 segments at most.
This is a prospecting sales system for any property agent. The prospecting methods have evolved from the traditional methods to digital methods. Whatever the methods used today. Most of the methods still work. Some will work better than others. While some will need more time to deliver results. There are no hard and fast rule on which methods is better. It ultimately boil down to which methods is applicable to your business.
The skill required by a property agent today is slightly different to a property agent practicing a decade ago. However, certain essential skills are still valid today.
The following are some of the essential skills needed by a property agent to perform his job well. This include doing marketing, communicating well to using technology. The agent would also need to undertake human resources role such as hiring and delegate tasks to employee. Most importantly, a successful agent need to possess a right mindset approaching sales.
This is a typical property sales lead funnel. You will need to prospect for leads. That is why you are also call as marketing agent. You must sourced for leads. Not all leads are doable. Some are only general enquires. Once you have received sufficient leads. You will have made some appointment to meet up with such clients. Next, you will need to secure listings or property in this case for sale or rent. Sales is a number game. You must generate a number of listings before you can see any closing if any.
Lets us summaries what we have learn so far and link them up together.
This is an example of a property agent sales system. A property agent would have to decide how much he or she would like to earn in a year. This will form his goal for the year. This figure must be a realistic figure that is attainable. The agent would then select the targeted geographical area he would like to work onto. He will have to derive the types of prospecting methods that will work for his area. It is good to have 2 or more methods to determine which method is more effective. Next, he will have to work on his leads and go for appointments, secure listing and ultimately close that listing. Lastly, a successful agent will re-invest his commission to establish his referral system. Subsequently, theses referral will make up a significant portion of his closing in the years to come.