CONVERT THE CALL
When you get that incoming buyer call, they are full of questions and just want answers.
How do you gain control of an incoming call? Is it by providing answers or when you ask questions? Just find out what the buyers needs are, then deliver based on those wants and needs.
Here are a couple typical mistakes I see when a buyer calls in. The agent goes into sell mode, the agent provides all the information; the buyer graciously accepts the information and hangs up but the needs go un-serviced and the agent doesn't get an appointment. Who is the biggest loser?
The second mistake that I see is the agent preparing their response for the buyer before the buyer completes what they are saying. Basically it's an agent that doesn't listen.
Here's the solution: Listen very closely, restate what the buyer has communicated to you and base your next question on their response or question.
Next tip I will discuss the initial appointment. Until then I wish you all continued success.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Wednesday, September 30, 2009
Tuesday, September 29, 2009
Coaching Tip & Strategies #12
PHONE CONVERSION
So what is the benefit for a potential buyer to take the time and schedule an appointment to meet with you?
"Would you see value in viewing pictures of the inside of all the homes that fit your search criteria, rather than to drive around and call agents and schedule individual appointments to see the inside of each home?"
"Would you see value in reviewing a current snapshot of the market so that you are able to understand the current value of homes that you are researching?"
What are some of the other value propositions/benefits that you can offer a potential buyer?
We call it the "FAB" approach; Features, Advantages and Benefits. Yes it takes time but YOU take a few minutes and place all of your features in the far left had columns of a 3 column page. At the top left it starts with Features, then the Benefits and lastly the Advantages. Write out all the whys and what if's that you can. You'll be amazed at your results.
Features and benefits are important to communicate during the incoming call, but how do you handle the overall communication process?
Your next tip will focus on how you convert the incoming call with more than just features and benefits.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
So what is the benefit for a potential buyer to take the time and schedule an appointment to meet with you?
"Would you see value in viewing pictures of the inside of all the homes that fit your search criteria, rather than to drive around and call agents and schedule individual appointments to see the inside of each home?"
"Would you see value in reviewing a current snapshot of the market so that you are able to understand the current value of homes that you are researching?"
What are some of the other value propositions/benefits that you can offer a potential buyer?
We call it the "FAB" approach; Features, Advantages and Benefits. Yes it takes time but YOU take a few minutes and place all of your features in the far left had columns of a 3 column page. At the top left it starts with Features, then the Benefits and lastly the Advantages. Write out all the whys and what if's that you can. You'll be amazed at your results.
Features and benefits are important to communicate during the incoming call, but how do you handle the overall communication process?
Your next tip will focus on how you convert the incoming call with more than just features and benefits.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Monday, September 28, 2009
Coaching Tip & Strategies #11
LEAD GENERATION
Buyers can be very time consuming, if you don't have a specific SYSTEM in place.
Your next series of tips will take you through a system that will funnel well qualified buyers your way, increase your conversion rates and decrease the amount of time you have to spend with them.
How are you currently generating your buyer leads? Rather than sit back and wait, our market demands ACTION! Now is the time to really sit down and think of various "systems" that you could put into place that will garner these leads even while you might be away. Yes, you oversee the system and the system does the work!
Here are some ways to consistently generate buyer leads.
Homebuyer seminars
For Sale by Owners that want to buy another house
Open House
Kiosk
Sign Calls
Ad Calls
Internet Leads
Referrals from Past Clients
Your Mortgage Broker
Your Real Estate Lawyer
Relocation Referrals
Your next tip, I will discuss call conversion.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Buyers can be very time consuming, if you don't have a specific SYSTEM in place.
Your next series of tips will take you through a system that will funnel well qualified buyers your way, increase your conversion rates and decrease the amount of time you have to spend with them.
How are you currently generating your buyer leads? Rather than sit back and wait, our market demands ACTION! Now is the time to really sit down and think of various "systems" that you could put into place that will garner these leads even while you might be away. Yes, you oversee the system and the system does the work!
Here are some ways to consistently generate buyer leads.
Homebuyer seminars
For Sale by Owners that want to buy another house
Open House
Kiosk
Sign Calls
Ad Calls
Internet Leads
Referrals from Past Clients
Your Mortgage Broker
Your Real Estate Lawyer
Relocation Referrals
Your next tip, I will discuss call conversion.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Sunday, September 27, 2009
Coaching Tip & Strategies #9
Working with Buyers (4)
What does the buyers home search process look like?
Median number of weeks searched: 10
Median number of homes seen: 10
How much time are you spending with your buyers? If you're spending more than 10 weeks with a buyer are they a real buyer or someone wasting your valuable time?
The length of the typical home search rose from eight weeks in 2007 to ten weeks in 2008. During the search for a home, buyers viewed a median of ten homes before making a purchase.
Among buyers who used a real estate sales representative / broker when searching for and purchasing a home, the median length of the total search was ten weeks. before contacting the sales representative / broker, these buyers typically searched for two weeks. The median length of the home search for first-time buyers is 12 weeks. First-time buyers also searched for a somewhat longer period before contacting an sales representative / broker.
What kind of qualification process are you using before you work with a buyer?
Did you make an appointment with a qualified Mortgage Broker?
Do you feel like you are a professional tour guide or taxi driver?
Do you have a buyer that you've shown over 30 homes and they haven't made a buying decision?
Do you really know what their wants and needs are?
The goal is in better qualifying your buyers and provide showing/selling strategies so that your time is more productive.
Your next tip, I will discuss call conversion.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
What does the buyers home search process look like?
Median number of weeks searched: 10
Median number of homes seen: 10
How much time are you spending with your buyers? If you're spending more than 10 weeks with a buyer are they a real buyer or someone wasting your valuable time?
The length of the typical home search rose from eight weeks in 2007 to ten weeks in 2008. During the search for a home, buyers viewed a median of ten homes before making a purchase.
Among buyers who used a real estate sales representative / broker when searching for and purchasing a home, the median length of the total search was ten weeks. before contacting the sales representative / broker, these buyers typically searched for two weeks. The median length of the home search for first-time buyers is 12 weeks. First-time buyers also searched for a somewhat longer period before contacting an sales representative / broker.
What kind of qualification process are you using before you work with a buyer?
Did you make an appointment with a qualified Mortgage Broker?
Do you feel like you are a professional tour guide or taxi driver?
Do you have a buyer that you've shown over 30 homes and they haven't made a buying decision?
Do you really know what their wants and needs are?
The goal is in better qualifying your buyers and provide showing/selling strategies so that your time is more productive.
Your next tip, I will discuss call conversion.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Sunday, September 20, 2009
Coaching Tip & Strategies #8
Working with Buyers (3)
What information sources do buyers use in their home search?
87% Internet
85% Real estate agent
62% Yard sign
48% Open House
47% Print Newspaper Advertisement
30% Home-book magazine
22% Home Builder
10% Television
7% Billboard
5% Relocation Company
Evaluate your current strategies to capture buyers. How would you measure yourself in the above areas?
Your next tip will measure the buyers active home search process.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
What information sources do buyers use in their home search?
87% Internet
85% Real estate agent
62% Yard sign
48% Open House
47% Print Newspaper Advertisement
30% Home-book magazine
22% Home Builder
10% Television
7% Billboard
5% Relocation Company
Evaluate your current strategies to capture buyers. How would you measure yourself in the above areas?
Your next tip will measure the buyers active home search process.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Saturday, September 19, 2009
Coaching Tip & Strategies #7
Working with Buyers (2)
What else does the repeat buyer want from their real Sales Representative / Broker?
Tell them what comparable homes are selling for - 11% of buyers want this from their real estate Sales Representative / Broker.
Help determining how much they can afford - 11% of buyers want this from their real estate Sales Representative / Broker.
Help find and arrange financing - 2% of buyers want this from their real estate Sales Representative / Broker.
Be sure you don't make a habit of "winging it!" Do you have up to the minute knowledge of the market? Do you have a credible and dependable Mortgage Broker that you work with to qualify your buyers?
I'm sure you will agree, when you get to the point of submitting their offer you will be asked for documentation and the credit worthiness of your buyer ... JUST BE PREPARED!
Your next tip will provide you with the information sources that buyers use in their home search.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
What else does the repeat buyer want from their real Sales Representative / Broker?
Tell them what comparable homes are selling for - 11% of buyers want this from their real estate Sales Representative / Broker.
Help determining how much they can afford - 11% of buyers want this from their real estate Sales Representative / Broker.
Help find and arrange financing - 2% of buyers want this from their real estate Sales Representative / Broker.
Be sure you don't make a habit of "winging it!" Do you have up to the minute knowledge of the market? Do you have a credible and dependable Mortgage Broker that you work with to qualify your buyers?
I'm sure you will agree, when you get to the point of submitting their offer you will be asked for documentation and the credit worthiness of your buyer ... JUST BE PREPARED!
Your next tip will provide you with the information sources that buyers use in their home search.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Tuesday, September 15, 2009
Coaching Tip & Strategies #6
Working with Buyers (1)
Rather than racing blindly after as many buyers you can come in contact with, wouldn't it be valuable to know what the expectations and behaviour of today's buyer? This series of tips will focus on the buyer's expectations, wants and needs; and the strategies and the tactics for you to use to secure more buyer closings.
The first two tips will provide you with what a repeat buyer wants most from their real estate Sales Representative/Broker.
The agent expectations by the repeat buyer are to:
Help find the right house to purchase -53% of buyers want this from their Sales Representative/Broker.
Help with price negotiations - 13% of buyers want this from their Sales Representative/Broker.
Help with paperwork - 8% of buyers want this from their Sales Representative/Broker.
Based on the above, here are some questions for you to consider.
Do you listen closely to your buyer's wants and needs?
Are you up to date with the inventory of available homes in your marketplace?
Do you have negotiating strategies and skills to support buyer wants and needs?
Do you clearly understand purchase contracts?
Do you want to increase your competency in the areas that buyers want you to be skilled?
Next tip I will discuss what else does the repeat buyer want from their real estate Sales Representative/Broker.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Rather than racing blindly after as many buyers you can come in contact with, wouldn't it be valuable to know what the expectations and behaviour of today's buyer? This series of tips will focus on the buyer's expectations, wants and needs; and the strategies and the tactics for you to use to secure more buyer closings.
The first two tips will provide you with what a repeat buyer wants most from their real estate Sales Representative/Broker.
The agent expectations by the repeat buyer are to:
Help find the right house to purchase -53% of buyers want this from their Sales Representative/Broker.
Help with price negotiations - 13% of buyers want this from their Sales Representative/Broker.
Help with paperwork - 8% of buyers want this from their Sales Representative/Broker.
Based on the above, here are some questions for you to consider.
Do you listen closely to your buyer's wants and needs?
Are you up to date with the inventory of available homes in your marketplace?
Do you have negotiating strategies and skills to support buyer wants and needs?
Do you clearly understand purchase contracts?
Do you want to increase your competency in the areas that buyers want you to be skilled?
Next tip I will discuss what else does the repeat buyer want from their real estate Sales Representative/Broker.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Monday, September 14, 2009
Coaching Tip & Strategies #5
How much are you going to invest in your business for the remaining year?
Your first consideration is "How much did you invest in your real estate business last year and what was your return on your investment (ROI?) Secondly, what were the dollars that produced "results"! Start making a list of your activities, dollars spent and what were the results!
Here is your measuring stick and rules:
You must constantly be measuring because you can't manage what you don't measure.
Look at your past expenses and determine if you received a favourable return on the investments in your business.
Simply focus dollars in the areas that generate a result.
A rule of thumb for marketing dollars: You should invest between 10 - 15% of your gross income in marketing dollars. I've seen this number as high as 25%.
Please focus on what is working and invest in it. Don't get carried away in costly print advertising.
Have you created a internet marketing strategy? How about Google Ad Words. You will be surprised how inexpensive this may be compared to print ads. Not only are you saving hard earned money but if 87% of the buyers are online, 3% are using newspaper advertising, I would think you want to be focusing on where the buyers are looking and Save Your Money!
If you would like some assistance in creating a budget, give me a call! Let's make it work!
Next tip I will discuss working with Buyers.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Your first consideration is "How much did you invest in your real estate business last year and what was your return on your investment (ROI?) Secondly, what were the dollars that produced "results"! Start making a list of your activities, dollars spent and what were the results!
Here is your measuring stick and rules:
You must constantly be measuring because you can't manage what you don't measure.
Look at your past expenses and determine if you received a favourable return on the investments in your business.
Simply focus dollars in the areas that generate a result.
A rule of thumb for marketing dollars: You should invest between 10 - 15% of your gross income in marketing dollars. I've seen this number as high as 25%.
Please focus on what is working and invest in it. Don't get carried away in costly print advertising.
Have you created a internet marketing strategy? How about Google Ad Words. You will be surprised how inexpensive this may be compared to print ads. Not only are you saving hard earned money but if 87% of the buyers are online, 3% are using newspaper advertising, I would think you want to be focusing on where the buyers are looking and Save Your Money!
If you would like some assistance in creating a budget, give me a call! Let's make it work!
Next tip I will discuss working with Buyers.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Thursday, September 10, 2009
Coaching Tip & Strategies #4
Action steps to accomplish your Business Plan
Let's not make this a complicated process, the only magic pill is not reinventing what you do, just make a decision to some specific action steps and be consistent.
Start by sticking with what has been successful in the past, what has worked before and make sure that you're consistent. Interesting, it really isn't that complicated a process but a little coaching and mentoring sure helps.
So, what does a balanced plan of attack look like?
A consistent marketing plan
A consistent prospecting plan
A consistent internet strategy
A database management system
An ongoing farming strategy
A robust referral system
You're running a business; you need to project your expenses along with revenues. Your next tip will focus on expenses.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Let's not make this a complicated process, the only magic pill is not reinventing what you do, just make a decision to some specific action steps and be consistent.
Start by sticking with what has been successful in the past, what has worked before and make sure that you're consistent. Interesting, it really isn't that complicated a process but a little coaching and mentoring sure helps.
So, what does a balanced plan of attack look like?
A consistent marketing plan
A consistent prospecting plan
A consistent internet strategy
A database management system
An ongoing farming strategy
A robust referral system
You're running a business; you need to project your expenses along with revenues. Your next tip will focus on expenses.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Thursday, September 3, 2009
Coaching Tip & Strategies #3
Do You Know the Sources of Your Business?
There are two sources that generate business, human resource or activities and financial resources or dollars you spend to generate business. You must give thought to "Why and What Benefits would it be to me, to source my business?
Look at every transaction that closed in the last 12 months and determine the source of each transaction.
How many transactions came from an ad call?
How man transactions came from the internet?
How many transactions came from open house?
How many transactions came from referrals?
By the way, these are just a few of the examples of what you need to explore in sourcing your business.
Incidentally, in the course of sourcing there were activities and dollars spent that "didn't" produce traceable results, get rid of them ... move towards those that did deliver a result.
If you need help in "sourcing your business" to help you earn more business, give me a call!
Your next coaching tip I will discuss action steps to accomplish your business plan
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
There are two sources that generate business, human resource or activities and financial resources or dollars you spend to generate business. You must give thought to "Why and What Benefits would it be to me, to source my business?
Look at every transaction that closed in the last 12 months and determine the source of each transaction.
How many transactions came from an ad call?
How man transactions came from the internet?
How many transactions came from open house?
How many transactions came from referrals?
By the way, these are just a few of the examples of what you need to explore in sourcing your business.
Incidentally, in the course of sourcing there were activities and dollars spent that "didn't" produce traceable results, get rid of them ... move towards those that did deliver a result.
If you need help in "sourcing your business" to help you earn more business, give me a call!
Your next coaching tip I will discuss action steps to accomplish your business plan
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Wednesday, September 2, 2009
Coaching Tip & Strategies #1
YOUR BUSINESS PLAN
I'm sure you would agree that productivity is never an accident! Wouldn't you agree that it's usually the result of a commitment to excellence, through intelligent planning and focused effort? Here are just some of the thoughts you can use in as your planning objectives.
Do you have a written Business Plan in place?
How many transactions are you going to close this year?
What is your average sales price going to be?
What is your average commission percentage per transaction?
What is your buyer to seller ratio going to be?
What kind of expenses are you going to have?
Why not separate yourself from the competition and get a business plan in place. Let me help you develop a "bulletproof" business plan, call me today.
Your next coaching tip, I will discuss production goals.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
I'm sure you would agree that productivity is never an accident! Wouldn't you agree that it's usually the result of a commitment to excellence, through intelligent planning and focused effort? Here are just some of the thoughts you can use in as your planning objectives.
Do you have a written Business Plan in place?
How many transactions are you going to close this year?
What is your average sales price going to be?
What is your average commission percentage per transaction?
What is your buyer to seller ratio going to be?
What kind of expenses are you going to have?
Why not separate yourself from the competition and get a business plan in place. Let me help you develop a "bulletproof" business plan, call me today.
Your next coaching tip, I will discuss production goals.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
Coaching Tip & Strategies #2
WHAT IS YOUR CURRENT PRODUCTION?
To consider a Top Notch Business Plan you need a baseline and statistical information to start the process. Here are some of the tough questions relevant to begin the process.
How many transactions are you going to close?
What is your average sales price going to be?
What is your totals sales volume going to be?
What is your average commission percentage per transaction?
What is your gross commission income going to be (before commission split)?
How many buyer closings will you have?
How many seller closings will you have?
Please call me if I can help you with your projections and any other facets of your plan!
Your next coaching tip I will discuss sources of your business.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
To consider a Top Notch Business Plan you need a baseline and statistical information to start the process. Here are some of the tough questions relevant to begin the process.
How many transactions are you going to close?
What is your average sales price going to be?
What is your totals sales volume going to be?
What is your average commission percentage per transaction?
What is your gross commission income going to be (before commission split)?
How many buyer closings will you have?
How many seller closings will you have?
Please call me if I can help you with your projections and any other facets of your plan!
Your next coaching tip I will discuss sources of your business.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager
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