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Secret Six Figure Sales Tips of the Real Estate Masters – Day 7

Dear Real Estate Agent:

Welcome to day seven, the last day of our seven part series, “Secret Six Figure Sales Tips of the Real Estate Sales Masters!” Today’s topic is one of the most important…

Mistakes Real Estate Professionals Make that Lose Sales.

In day six, we talked about the benefits of having a structured/defined/worked out Client Agreement. By working out expectations and communication style upfront you’ll:

eliminate misunderstandings (and time-wasters)
build trust and credibility that lasts
increase repeat and referral business

Today’s session is all about the wisdom that you can only get by making mistakes. After providing sales coaching to hundreds of real estate sales professionals through their sales cycle, I discovered what it takes to help anyone produce BIG results. I’ve done that without the hard-core sales machine mentality. These sales methods promote a high level of professionalism and integrity that allow you to build your business to last.

It’s impossible to cover all the real estate sales coaching lessons I’ve learned in this one lesson. The topic is simply too vast. So, I’m going to cover five of the most common mistakes that can make a significant difference in your real estate sales conversion. That way you will have the best information to help you make profitable changes in your business. If you’d like to learn other lessons that can make a big difference in your sales conversion success, I encourage you to check out The Unstoppable Sales Conversion System.

Let’s get started.

Mistake #1 – Not Tracking Your Prospecting Efforts and Sales Results

The first mistake that most real estate sales professionals make is that they don’t keep statistics on their sales conversion efforts. Yes, that sounds simple. But it’s the number one thing that most real estate sales people overlook. When sales people start to track their efforts and commit to recording their actions, they naturally improve the results they get. What happens when you record your results is you will begin to notice what is working and what is not.

Once you begin to understand where you are having difficulties, you can make changes that will produce different results with each step of your sale conversion cycle. Even if you are using the trial and error method of discovering what makes your sale conversion improve, eventually you will stumble upon a technique that will produce better results. Our Launch coaching members don’t have to wait so long or miss out on as many sales saving them big money. They appreciate having their coach substantially reduce their learning curve to produce the results they have been dreaming of.

In fact, I think tracking is so important that I’ve created an entire system with a performance dashboard, tracking forms and “how to” instructions. If you’re interested in finding out more, visit The Unstoppable Sales Conversion System.

Mistake #2 – “Winging” a Real Estate Sales Prospect Interview

The second mistake that some real estate sales people make is that they don’t have a process to interview sales prospects. I recommend that you:

sit down and think through your initial prospect interview
create an intake form to help you cover all the important information or otherwise, you’re just trusting your instincts and winging it.

Don’t get me wrong. I’m in favor of using your instincts in the real estate sales process. But, I prefer to have a solid ironclad sales process to use those instincts within. Remember,

If you’re winging it, you’ll be losing it!

You may be saying, “I know what you mean and I’m sure I’m not winging it at all.” If that is you, then the next question is: What is your process? If you want to improve your process and add to your success:

Write it down.
After each category, ask yourself, “What is the purpose of each step?”
Then ask, “What can I do to make it better?”

Here’s a typical example. I had a real estate agent who came to sales coaching with a problem. She noticed that she had two types of buyer prospects that she was attracting. One type was the perfect client. They were ready to work with her, respected her and where loyal long after the sale was complete. The other type she attracted was aloof and had an uncommitted personality. You know the type…the one that has a hard time committing to anything. They seem to have the brake on all the way through the sales process.

After I examined her sales process, I discovered she was using a style of questions that attracted this uncommitted type of personality. We went through the steps above And in a few coaching sessions, I was able to change what she said and turn that once uncommitted real estate prospect into a committed solid prospect. As a bonus, she learned how to identify which real estate sales prospects were not a desired fit. That saved her lots of valuable time. She was able to make more sales in less time and skip all the frustration.

Mistake #3 – Not Following Up

The third mistake that most real estate sale professionals make is that they don’t follow up with their sales prospects. Yes it’s true! Approximately 40% of real estate sales people don’t have a sales follow-up system. Of the ones who do have a system, less than 10% have what I would call a bullet-proof sales prospect follow-up system. Think of the lost business and profit that is being missed!

Here’s a great story. One client was a top-producing realtor who wanted to change the way he was working. When we started coaching him in his business, he was working all the time and seemed to be in a frenzy every day. Even though he was making good money, he felt he could not take time off with his young children without suffering in sales. After reviewing his sales conversion cycle, we discovered he was a master at converting real estate sales prospects into clients and keeping them once he started to work with them. In fact, he rarely lost any sales prospects once the sales process had started and most of them bought quickly. By all accounts, his sales conversion statistics looked fantastic. That is, until we talked about his sales prospect lead follow-up system. His approach was: work with the sales prospects now or forget about them! That’s right. If he was unable to get an appointment to do an initial sales prospect interview when he first spoke to them, he’d just forget about them.

After we placed a simple sales prospect lead follow-up system in place, he was able to convert over 60% of the real estate sales leads that were already in his system. He didn’t need to prospect as much to get the same income. He is currently living out his dream of spending most nights with his family and having long summer vacations while making the same income.

Remember… A good follow-up system is simple and powerfully effective.

Mistake #4 – Not “Leading” the Sales Process

The fourth mistake that some real estate sales professionals make is that they have the wrong attitude and a way of behaving that prevent people from wanting to work with them. The problem is simple they don’t lead. When you think about it, real estate sales is a form of leadership. Leadership, or your ability to influence someone to move in a direction that is beneficial to them, is a set of skills and principles that anyone can learn.

Bonus – Here’s a bonus that will help you improve your leadership right now. Leaders are the ones asking the questions! Make sure your questions include:

open-ended questions
closed-ended questions
fact-finding questions
inquiries
emotional connectors

If you learn how to ask all the different types of questions at the right times, you’ll completely change your leadership level overnight.

Client leadership is such an important topic that I’ve included it in The Unstoppable Sales Conversion System as a bonus item. That’s because I know that having strong leadership skills is directly related to your success in real estate. Just focusing on your leadership skills can increase your sales.

Example: One real estate sales person doubled her six-figure income in one year of working with me. She became the top in her area just three years later with a growth rate of over 350% for that time period! Here’s the interesting part…we never talked about her business—just her leadership style!

Mistake #5 – Quitting Too Soon

The fifth mistake that some real estate sales professionals make is that they quit too soon. I call this the “I tried that” trap. This trap really is an extension of the #1 mistake of not tracking your progress and results. “Trying something” as opposed to having a process and working it, is effectively jumping into real estate sales without all the right training and understanding to make it work. If you “try” often enough you may stumble into success. But in most cases, all that happens is you become frustrated and discouraged.

Before you quit, step back and consider this…

You’re not quitting because it doesn’t work. You’re quitting because you don’t have a process to track your efforts to identify and perfect what does work in your sales cycle.

You will want to work through your sales process until it’s perfected, making small changes each step of the way. Having a clear understanding of what needs to happen in your sales conversion process and creating a solid plan of action will change your sales conversion quickly. So it’s important to not give up too soon and stay focused on the results. That way you’ll get the success you have been working hard to achieve.

A Special Note from Rich Grof…

Thanks for taking part in our seven part series, “Secret Six Figure Sales Tips of the Real Estate Sales Masters!” I hope you have found a number of golden nuggets that you can take with you and use right away. If you’d like to learn more about how to close more sales with less time and effort, check out:

The Unstoppable Sales Conversion System or

Grow F.A.S.T.™ – Real Estate Sales mentoring program

Even if you already have a sales conversion system, it’s not uncommon for a business or sales professional to have their results go up by 20%, 50% or even 100% from our program.

Right now you might be saying, “Wow I have learned so much. What else is there?” That’s a question that pops up frequently. I can assure you that we’ve just scratched the surface of what we have to offer you!

In the Unstoppable Sales Conversion System and Grow F.A.S.T. for Real Estate you’ll learn:

How to use our proven system to change your sales conversion percentage from hit-and-miss to a solid 80-90% immediately, just like our members enjoy.
How to discover your buyers emotional hooks and use them to get prospects chasing you down to work with you.
How to get a steady stream of buyers from real estate open houses by using a custom presentation.
How to use your client’s emotional language to gain trust and build rapport faster than you thought possible, giving you instant confidence and credibility.
How to improve your leadership to engage new clients more often, close them quicker and keep them longer.
How to leverage the buying process to gain new prospects and FREE money you never before had access to.
Learn the power of qualifying buyers so you know where they are in the buying cycle.
How to communicate your unique differentiator to get paid more with higher client satisfaction and effectively boost your referrals immediately!
The secrets of buyer and seller motivation and how to turn this knowledge into sales overnight!
I’ll even give you my secret weapon – The Seven Techniques to Catch a Prospect’s InterestNOW!
Custom forms and support material to make your success easier and faster.

Basically, everything you need to become a master at Sales Conversion!

Are you ready for the success of your dreams?

“I want more information on The Unstoppable Sales Conversion System”

“I want more information on Grow F.A.S.T. for Real Estate Professionals”

Have questions that need answers? Book a complimentary strategy session and get the straight answers to your questions—no sales pitch just excellent information. See how easy your success can be. Book here…

“I have questions that need answers, and would like to talk with someone”

On a personal note, I love to hear of your success, so please send me any constructive comments that you may have, requests or success stories. I love to hear which tips worked for you and how you put them to use. We’ll use this valuable feedback to share with others and make this program even better! You never know, you might be the next success story that I feature in my upcoming programs. Please email me at rich@richgrof.com.

To Your Success

Rich Grof

For information on Business Coaching

For more information on Sales Coaching

Want to review a past issue on this business coaching e-course?

Day 1 – How to Boost Your Sales Conversion in Your Real Estate Business, Effortlessly Overnight!

Learn the Magic Formula that gives youFREEmoney without spending more time or working harder.

Day 2 – Why Real Estate Buyers Don’t Buy?

Every sales prospect has an emotional gain or “hook” that motivates them to buy a product or service. As a real estate sales professional, you can use this hook to communicate the value emotionally of every homes feature’s and close more sales.

Day 3 – Three Tips Real Estate Masters Use to Find New Buyers at Every Open House

The first thing I learned was that you don’t DO an open house, you PRESENT an open house! Buyers are looking for strong leadership to help them through the real estate sales process. Proper qualification is the first and most important step to your real estate open house sales process. Without it you will be working hard without getting the results you want

Day 4 – How Do You Know if Your Buyer or Seller is Motivated?

Every real estate sales prospect needs to go through a motivational process or series of steps before they work with you. Learn what those steps are and how to leverage them to help your client move forward.

Day 5 – How can I develop rapport quickly and at a high level?

Building rapport at a high level Is more than just talking. It involves connecting to the emotional feeling that our prospect is having. Knowing what their emotional language is can help us tailor how we communicate with them.

Day 6 – How to Build Client Loyalty by Using Client Agreements in Your Real Estate Business.

A solid client agreement is more than building rapport and trust. It’s the framework for a solid profitable business relationship. Learn how to structure this agreement, what to include to make it work and how to increase your client’s loyalty overnight.

Rich Grof is a Transformational Catalyst who has worked with hundreds of business leaders and sales professionals each year helping them achieve new levels of success in their business and personal lives. He has a unique ability in breaking down the barriers to success into a simple and easily implemented format. Rich brings high energy to all his seminars, professional keynotes and coaching, helping clients and audiences achieve the motivation that launches them into action.

For those wanting more out of their business career and personal life,Rich Grof and RG Performance Development is an excellent connection to the dreams they want to create.