Work Your Little Black Book
The best place to get listings is by working your sphere. The first step in having a referral-based business is to have a “black book” of relationships, so everything you need for prospecting is in one place. That little black book is your CRM system. Without it, your business will never be as prosperous as it could be.
Based on everything that is currently happening in the market, I can confidently say that 2022 will be the year of the listing. I have been singing this same message for a while now. The most successful agents are listing agents and if I was personally coaching you, I would make sure you were laser focused on signing seller listings this year if you want to earn an above-average income.
However, and there is always a caveat, real estate does not exist in a silo. Everything that happens GLOBALLY effects our industry LOCALLY because everything has a domino effect. As a small business entrepreneur, it is your responsibility to make the most of the opportunities you have directly in front of you (today it is a need for more listings), but also to constantly be aware of what is happening globally so you can pivot your business quickly to take advantage of pending changes before your competitors wake up to them.
There is always global situations that affect us at home. For instance, the pandemic unexpectedly caused a great migration, which contributed to the inventory shortage, but it also impacted supply chains, which along with government stimulus impacted inflation, which will cause interest rates hikes this year, which will affect consumer buying power. If rates increase significantly in 2022 because of these factors, we will see another change in the market.
As small business entrepreneurs, we succeed by making the most of opportunities directly in front of us, all while being aware of global situations that can affect us tomorrow. Having said that, for the foreseeable future, listings will still be the name of the game.
Once you have everyone you know in your CRM system, how do you foster those relationships to get more business? Let me give you ten tips for building stronger connections to help you close more transaction this year.
TIP #1: Be friendly first
Friendly people are likeable. The twin to friendly is smiley, and smiley people are 100 times more attractive than people who aren’t. Homeowners have several options for selling their house these days: discounters, iBuyers, limited-service brokers, etc., but given the opportunity, people prefer to do business with friends (or should I say friendly friends).
TIP #2: Be confident, not arrogant
Confidence is beautiful. Arrogance is ugly. Confidence comes from a place of knowledge. Arrogance comes from overvaluing your self-worth. People love humility, so even if you are extremely knowledgeable about what you do, never brag. Quiet confidence always wins.
TIP #3: Look them in the eye
We are so distracted these days that it is often difficult to be present in a conversation. The best way to build trust and establish a strong connection with someone is to be fully engaged. By looking someone in the eye during a conversation, it keeps you focused, and you can pick up on non-verbal cues that are often more revealing than the words someone uses. Be present.
TIP #4: It you are not feeling it, fake it
No one wants to buy a house from a pessimist. We all have bad days, but your clients don’t want to hear about your problems. They are paying you to solve theirs. If you are not in a good mood, fake it.
TIP #5: There is no connection without risk
Relationships are challenging. The risk of rejection and the risk of our knowledge being challenged can leave us feeling insecure, but if there is no risk, there is usually no reward. If you’re at a social event and you don’t take risks to meet new people and hand them your business card, your business will suffer. Fortune favors the bold.
TIP#6: Never wing it
Ninety percent of your success comes from showing up prepared. Too many agents don’t put enough work into their research before a listing presentation, and then they’re disappointed when they don’t get the results they want. Neighborhood data, a polished marketing presentation and in-depth pricing research all contribute to your confidence and increase your value in the eyes of the sellers.
TIP #7: Focus on them, not you
When you are at the listing appointment, don’t focus on getting the listing; focus on solving their problem. Too many agents focus on what they want (getting the listing) versus focusing on what the clients want (WHY they are selling is as important as WHAT they are selling). Listen carefully to their reasons for selling, and constantly bring them back to those reasons during your conversation.
TIP #8: Quickly find common ground
People like to do business with people who are like them. The sooner you find things in common with potential sellers, the sooner they will trust you. That’s why it is so important to spend time small chatting at the start of the listing appointment to discover similarities. Perhaps you both like golfing, or you both have children, or you both love to travel. These similarities quickly build bonds.
TIP #9: Put your best foot forward
Often when we do a listing presentation for family or friends, we give them the Cole’s Notes version because we don’t want to bore them with all the details. This is a huge mistake. Friends and family deserve the same level of professionalism as strangers, if not more. That includes dressing for success, showing up with a gift, and running through your full marketing presentation, so they clearly understand how good you are. They shouldn’t hire you because you’re a friend; they should hire you because you’re exceptional.
TIP # 10: Be more thoughtful
Do the unexpected. Let me give you an example. It is customary to send a closing gift to someone who buys or sells a property with you. You can send a standard gift and they will think it is a nice gesture, or you can send a thoughtful gift and it will impress them. It is not the price of the gift; it is the thoughtfulness that counts. Choose something that will be meaningful to them. When I sold my vacation property in Florida, our agent hired a local artist to paint a picture of the house and she sent it to us as a gift to remember how much we loved it there. It was incredibly thoughtful and that picture hangs in my house today (constantly reminding us of her). Now that’s great marketing!
The best in the business are constantly polishing and refining their communication skills. The biggest mistake in communication is the perception that it has actually taken place. Often, we think we are communicating clearly but our clients don’t hear our message. The better you get at hearing, seeing, and reading people, the more business you will convert and the more happy clients you will have running around town telling people how great you are.
I suggest you read Jeffrey Gitomer’s Little Black Book of Connections. He delves deep into how to build stronger relationships with clients to help you close more business.
If you want more information how to make 2022 your best year ever, please visit https://leadersedgetraining.com/agent-virtual-training/.
Chris Leader
President
Leader’s Edge Training