Posts Tagged ‘real estate sales’

Do Realtors Really Want to Sell Homes?

Having been in the process of selling our home, I have come to realize the majority of realtors do not want to really sell a home. No they want to list and then promise how their marketing is different.  This fact is supported by current real estate sales research that suggests nearly 90% of all homes are not sold by the current listing real estate agent.

realtorsListing a home is a guaranteed income if the house sells and is for the most part all the same by all the real estate agents.  I listened to numerous “real estate marketing presentations” and they were basically all the same.

From the marketing reports I received from our realtor, the super majority of interest over 75% was from Zillow.  Percentage wise very little came from Realtor.com or the local real estate association or even the broker’s national multi-listing website. National real estate sales research confirmed that at least 90% of all potential home buyers find their homes on the Internet.

This realization was verified after I called five of the realtors from the direct mail marketing I .  Once I told them our decision to walk the path of For Sale By Owner, 100% of these so called “hungry sales people” indicated they wanted to list the house and were not interested in just “selling the house.”  They maintained this position even after I said we were willing to pay a commission if they sold the home.

One realtor did not realize his conversation was insulting because he presumed we were not working with a qualified real estate attorney.  He said “most of our clients will not work with for sale by owner because of the legal ramifications.”  That may be true, but my sense is his focus creates his reality.

Coming from a true sales background, I always thought selling a home was actually finding a buyer to buy the home and thus make a sale.  Yes finding listings (homes for sale) is just one aspect of real estate sales.  However selling a home from the seller’s perspective is actually finding a buyer for the home.

My advice is to realtors is be careful in your marketing message. More and more buyers recognize there is a difference between listing a home and selling a home.

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Where Many In Sales Are Missing Sales – Part 1

Salespeople, especially those in SMB, are always on the hunt to increase sales.  I am not sure what is going on in some of their minds, but my sense is quite a few are missing sales and probably more than they ever realized.

missing-salesTake for example real estate sales.  Having been in the process of selling our home, I never knew how many real estate people are truly clueless about selling and the overall sales process.

I am not alone in this observation as the National Realtor Association commissioned a report, The Danger Report, and verified the U.S. residential real industry is suffering from extreme danger with these words:

Masses of Marginal Agents Destroy Reputation

Come back tomorrow to read this second part of this two part installment.

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No Cluelessness in Real Estate Sales Is Not a Youth Thing – Part 3

This is the final posting of a 3 part series on real estate sales.

real-estate-sales

As demonstrated by the following comment, this younger real estate agent is relying on electronics to do his work.  People buy from people.  Making a personal outreach is always far better than stroking the keyboards.

The listing agent should have electronic documentation on who has set a showing for the day. Follow up is a mouse click away. 

Additionally as this comment was prompted by the question of “Why don’t real estate agents leave business cards?” the seller of the home was being 100% ignored.

In real estate sales and in most other sales, the seller never knows who knows whom.  As it has been said for many years, there is only one chance for a good, first impression.  In the case of this real estate agent, he is relatively clueless about the overall sales process not too mention being a courteous professional salesperson.

Also building relationships with other real estate agents is also not a bad marketing or selling behavior.  Yes they are competitors, but with the commission usually being split 50/50, why not improve your odds of making a sale?  Fifty percent of something is better than 100% of nothing.

Here are the links to the first two postings:

No Cluelessness in Real Estate Sales Is Not a Youth Thing – Part 1

No Cluelessness in Real Estate Sales is Not a Youth Thing – Part 2

Want more sales, more time and less stress?

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Leanne Hoagland-Smith is THE People and Process Problem Solver for leaders who desire a Forward Thinking Sales Culture. She supports executive leadership in bridging the sales culture gap of people and processes that restricts SMB sales results. If you want to increase sales, then call Leanne at central time USA to solve your disengaged employees and ultimately your disengaged sales culture as well as improve your own sales results. Follow her on Twitter or check out her profile on LinkedIn.

 

Want more sales, more time and less stress?

CLICK HERE to reserve a time to speak with me.

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Leanne Hoagland-Smith is THE People and Process Problem Solver for leaders who desire a Forward Thinking Sales Culture. She supports executive leadership in bridging the sales culture gap of people and processes that restricts SMB sales results. If you want to increase sales, then call Leanne at 219.508.2859 central time USA to solve your disengaged employees and ultimately your disengaged sales culture as well as improve your own sales results. Follow her on Twitter or check out her profile on LinkedIn.

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No Cluelessness in Real Estate Sales Is Not a Youth Thing Part 2

No wonder those in real estate sales have trouble selling.  When I read the following statement by a younger (presuming under 30 real estate agent) who believed in not leaving a business card when showing a home, I just shook my head as to his cluelessness about the overall sales process.

real-estate-salesIf the owner of the home is concerned someone didn’t show the house then he or she should talk to your listing agent. Ultimately it doesn’t matter if they showed your house or didn’t if there’s no offer to buy.”

First, this realtor does not understand word of mouth advertising.  By leaving his business card, he is providing a future opportunity for someone to connect with him.

Second, everyone is connected by either 3 to 6 other people depending upon what theory you believe. In real estate sales, one never knows who knows whom.

Third in sales, rarely is a sale made on the second or third contact. Sales research suggests 90% of all sales are made after the fourth contact.

Fourth, for those engaged in selling, their egos must be left at the door.  Sales is not about you as the salesperson, but rather ALL about the buyer. Within real estate sales, there are two buyers:

  • Buyer seeking the home
  • Buyer who will be buying the offer of the buyer seeking the home

Fifth, common courtesy also known as professionalism is the main reason to leave a card for the homeowner.  This is the person with the ultimate decision making power. Why force the homeowner to call her or his listing agent to confirm someone entered the home?

Again as in yesterday’s posting, I encourage all real estate agents to read The Danger Report commissioned by the National Realtor’s Association.  If a salesperson does not know what is happening in his or her profession as well as industry, then he or she will continue to struggle to increase real estate sales.

Want more sales, more time and less stress?

CLICK HERE to reserve a time to speak with me.

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Leanne Hoagland-Smith is THE People and Process Problem Solver for leaders who desire a Forward Thinking Sales Culture. She supports executive leadership in bridging the sales culture gap of people and processes that restricts SMB sales results. If you want to increase sales, then call Leanne at 219.508.2859 central time USA to solve your disengaged employees and ultimately your disengaged sales culture as well as improve your own sales results. Follow her on Twitter or check out her profile on LinkedIn.

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No Cluelessness in Real Estate Sales Is Not a Youth Thing – Part 1

Yesterday on another social media site, a colleague asked why real estate agents do not leave business cards when showing a home.  A younger real estate agent asked this question: Why does it matter in real estate sales in leaving a business card?  He then stated his reasoning for not leaving a business card.

real-estate-sales

#1 – The listing agent should have electronic documentation on who has set a showing for the day. Follow up is a mouse click away. 

#2 – If the owner of the home is concerned someone didn’t show the house then he or she should talk to your listing agent. Ultimately it doesn’t matter if they showed your house or didn’t if there’s no offer to buy.

#3 – Maybe this is a youth thing,  but business cards cost me money. If I’m handing them out I should be receiving business. What’s the rational of dropping something that costs money in a scenario that will not produce any money from that action?

As we are currently relocating to another state and our house is up for sale, I found this posting extremely insightful about real estate sales and selling in general.  For solo-entrepreneurs, independent contractors as in real estate or SMB owners, there is still a lot of “cluelessness” in sales.

What first grabbed my attention was his third point number “business cards cost me money. If I’m handing them out I should be receiving business.”

That is full blow scarcity mentality and probably the quickest way never to increase sales.  Business cards are marketing.  For those selling in B2C or B2B, business cards are the cheapest real estate outside of social media.

From my perspective I hand out business cards to attract attention and ultimately build relationships, not to receive business. I have no expectation of a sale when I share a business card.  The sales process is time driven because it takes time for those sales leads or potential sales referrals to get to know and trust you as a salesperson.

Last year, the National Association of Realtors published a report entitled “The Danger Report.” This report is broken down into five sections with the first section focusing on real estate agents.  The number one danger is:

“The real estate industry is saddled with a large number of part-time, untrained, unethical, and/or incompetent agents. This knowledge gap threatens the credibility of the industry.”

In speaking with an executive of the local real estate association here in Northwest Indiana, he shared with me his surprise of how many real estate agents have not read this report.  Less than 10% of the realtors I know were even aware of the report.  This cluelessness returns back to a deep knowledge gap as well as a significant self-improvement gap.

Bottom line in real estate sales, always have business cards on you and be willing to share them especially if you are showing a home.

Tomorrow’s posting will look at the second reason about “no offer to buy” while Friday’s will address the first reason.

Want more real estate sales, more time and less stress?

CLICK HERE to reserve a time to speak with me.

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Leanne Hoagland-Smith is THE People and Process Problem Solver for leaders who desire a Forward Thinking Sales Culture. She supports executive leadership in bridging the sales culture gap of people and processes that restricts SMB sales results. If you want to increase sales, then call Leanne at 219.508.2859 central time USA to solve your disengaged employees and ultimately your disengaged sales culture as well as improve your own sales results. Follow her on Twitter or check out her profile on LinkedIn.

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How to Boost Residential Real Estate Sales – Part 3

Over nine years have passed since I wrote this article “7 Tips for Real Estate Agents’ Success.”  The very first tip was those who are in residential real estate sales are small business owners. Yet, the statistics of failure to limited success by realtors appears this critical increase sales tip continues to be ignored.

residential-real-estate-salesThe Danger Report commissioned by the National Association of Realtors identifies probably the key reason for so many realtors not embracing this reality of being small business owners – Masses of Marginal Agents Destroy Reputation.  This key danger finding is essential to the livelihood of the residential real estate industry.

Since we have placed our home under the For Sale By Owner banner, I have personally witnessed the good, the bad and the ugly when it comes to real estate agents.  Of the nearly dozen or so who have reached out to us, only two have made repeated calls just to stay in contact. The majority have either made one call or sent up to three direct mail pieces and then quit.  Follow-up is a critical sales skill for any successful small business.

Read Part 2 – How to Boost Residential Real Estate Sales

Successful small business owners stay ahead of the market flow. They look for changes in the economy, the community and their own industries.  Additionally, these forward thinking leaders look to continually hone their knowledge and expertise.   Marginal professionalism will not cut it in any small business less alone one that is people driven and involves the most costly investment people will ever make.

When those in residential real estate sales embrace the attitude of being small business owners, this will help to close the delta between “great real estate service and poor real estate service.” (The Danger Report).   Until that attitude shift happens, the delta between great and poor will probably only increase instead of decrease.

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Leanne Hoagland-Smith is THE People and Process Problem Solver. She supports forward thinking leaders in bridging the gaps between the two problems restricting strategic business growth – people and processes. Leanne can be reached at 219.508.2859 central time USA.  Follow her on Twitter or check out her profile on LinkedIn.

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How to Boost Residential Real Estate Sales – Part 01

With inventory of residential real estate at exceptionally low levels for some parts of the country along with many real estate agents competing for a smaller portion of the overall residential real estate sales industry, maybe this one tip may help increase sales:

residential-real-estate

Credit www.gratisography.com

Answer the DAMN phone!

Normally I do not swear in a blog postings. Yet, why would any competent salesperson in any industry not answer the phone is beyond me.

People are busy and that includes your potential ideal customers.  If your voice mail does not kick in quickly, four to five rings, the caller is likely to hang up.

Recently I received a very poorly written direct mail piece from a local realtor here in Northwest IN.  He asked me to call him and I did. I will admit I made the call more out of curiosity than anything else.

ReadRealtors Your Marketing Message Sucks – Part 01 of a 5 Part Series

His residential real estate sales office phone rang 6 times and no one answered at 9:30am on a Tuesday morning. So I called the mobile number and it rang 8 times without being answered.  Voice mail on either line never kicked in.

Now this individual who indicated he was in residential real estate sales wanted my business.  He said he could sell my house.  Well, if he doesn’t answer the phone, he just showed me his marketing message was all talk and no action.

By not answering the phone he created a real big sales objection – HIM!

Answering the phone is the first step in overcoming you as a sales objection. People buy from people they know and trust.  If you don’t answer the phone, how can people come to know you and subsequently trust you.

Before I established this executive coaching and leadership development consulting practice over 18 years ago, I was in corporate sales.  Our phones were answered within 3 rings.  We did not have the luxury of voice mail.

Everyone was on notice that any phone that rang more than 3 times was a potential lost opportunity to increase sales. Our business had eight lines and many times during the day, all eight lines were active. We trained our all employees including inside salespeople and outside salespeople to end conversations as quickly as possible so at least one line was always open.

If you want to boost residential real estate sales, then begin with this first increase sales coaching tip:

Answer Your DAMN phone!

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Leanne Hoagland-Smith is THE People and Process Problem Solver. She supports forward thinking leaders in bridging the gaps between the two problems restricting strategic business growth – people and processes. Leanne can be reached at 219.508.2859 central time USA.  Follow her on Twitter or check out her profile on LinkedIn

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