“The 30–Day Rule states that the prospecting you do in this 30 day period will pay off for the next 90 days. It is a simple, yet powerful universal rule that governs sales. Ignore it at your peril. When you internalize this rule, it will drive you to never put prospecting aside for another day”
Jeb Blount – Fanatical Prospecting
Where is your next listing coming from? If you don’t know, you’re heading for a performance slump. All salespeople should have a full pipeline of prospects – warm leads that will soon germinate into listings, then into sales, then into income. Continue reading Pipeline of Prospects
In this short sales session, real estate agency profit consultant, Gary Pittard, discusses the danger in allowing sellers to stay on the market overpriced for too long. Gary believes you have two weeks to get your listing priced to sell. Fail to do that and you risk losing the best buyers.
When the market turns down many agency leaders wisely cut expenses. But there is a right way and a wrong way to do this. Cut the wrong expenses and you will quickly lose profit.
Some expenses can be cut without affecting your income. We call these ‘fat’ expenses. Things like publications you don’t read. Stop expenses like this and you will be more profitable. Continue reading Marketing
Many salespeople either become sales managers or move into a leadership role as owners of their own real estate businesses. Gary Pittard, CEO of the real estate agency profit consultants, Pittard®, believes that author, Chris Lytle, is correct in calling these people, ‘the forgotten rookies’.
Leadership and Sales are different skills. To think that a great salesperson can lead a team without any leadership training is just as stupid as presuming that a great Flight Attendant can pilot the plane.
For salespeople-cum-leaders, the sales habit is hard to kick. But if you’re too busy selling and don’t spent enough time leading, you are on a fast track to low profit.
In 30 years I have interviewed countless winners, and have noticed one big difference between winners and their mediocre counterparts:
Winners do the hard tasks. Winners understand that the hard tasks pay.
In truth, the ‘hard’ tasks aren’t hard at all. Simply, salespeople don’t like doing these tasks so they avoid them. In their minds, they make these tasks seem harder than they really are. They invent excuses for not doing them. When asked by their leader, “How much prospecting have you done this week?”, they reply, “I’ve been too busy”. This is nonsense, and a fundamental cause of low results. Continue reading Hard Tasks Pay
“This is truly a great career. I wonder how many real estate salespeople actually appreciate the golden opportunity their real estate career offers them” says real estate agency profit consultant, Gary Pittard.
Gary believes that when you landed a position as a real estate salesperson, you won the lottery. Are you making the most of your winnings?
With another financial year behind us, it’s a good time to ponder: “Are you happy with your profit?”
Stating the obvious: Profit is the money you keep after expenses are paid. I’m compelled to mention this because the real estate industry and its systems focus on turnover. Turnover is not profit. Continue reading Think Profit
In this short leadership session, real estate agency profit consultant, Gary Pittard, discusses Succession Planning. Many agency leaders talk about it, but when questioned about what they have done with their succession planning, Gary finds that often very little has been done.
Selling Rent Rolls is a relatively straightforward process, but sales departments can be a little trickier, mostly because outside buyers do not expect them to be profitable. Therefore, you don’t have people queuing up to buy them. So, what’s your plan?
A common complaint from leaders is that their salespeople lack focus. It has a been constant theme in my 30 years as a real estate agency profit consultant.
One leader said his salespeople had the attention span of a gnat.
A short attention span is not a problem for most people. Watch people doing leisure activities – things they love to do. They have no trouble giving these activities their full attention. Continue reading Short Attention Spans
This is a two-part article on the Do’s and Dont’s of hiring. Last month, we discussed the Hiring Don’ts. This month we look at the Hiring Do’s.
The Seven Do’s of Hiring
Hire for attitude
If you hire somebody with a bad attitude, this will poison your team. Author of Winning the War for Talent, Mandy Johnson, says that people with bad attitudes are hardly likely to suddenly develop a good attitude once they join your company.
Frame your questions around testing attitude, for example, “Can you give me an example of what you think is a good work ethic?”
Real estate agency profit consultant, Gary Pittard, recommends that leaders give their salespeople knowledge tests, yearly at least. If you think that excessive, remember that salespeople get tested all the time. Every time a seller asks, “Why should I list with you?”, the salesperson is tested. Do you want them to respond with the right words?
Keep your team’s knowledge fresh and current. Sharpen the saw.
Below are snippets are from surveys conducted by Roy Morgan over a 17-year period. I have been following these surveys for 25 years and note the position of our industry moves very little in the list of most trusted professions.
Most Respected Professions: Nurses, Pharmacists and Doctors Least Respected: Car Salesmen, Journalists and Real Estate Agents.
In this short sales session, real estate agency profit consultant, Gary Pittard, discusses happiness and its relevance to real estate sales. Happiness is relative – what makes me happy might not make you happy. A win-win outcome is likely if you ask questions, find out what the clients really want and use that knowledge to facilitate the negotiation.
This is a two-part article on the do’s and don’ts of hiring. In this issue, we will discuss Hiring Don’ts. Next month we will cover Hiring Do’s.
First a question: Do you believe successful hiring is an art or a science?
Many real estate agency leaders will say that hiring is an art. Without effective hiring and induction systems, they’d be right. But with systems, you have more certainty of finding and developing winners, moving hiring from art to science.Continue reading Hiring Do’s and Don’ts (Part 1)
Social media marketing is, or should be, a company function, and not a task undertaken by individual salespeople. Real estate agency profit consultant, Gary Pittard, says, “The pretence of social media is that it is a viable replacement for prospecting. It is not.” In this short leadership session, we discuss the folly of wasting too much time on social media at the expense of speaking with people by telephone or face-to-face.
Let’s give some thought to how we can make more sales despite the gloom and doom about the current state of the real estate market in many regions.
The market is your reality. As professionals, we must learn to thrive in all markets, whether booming, static, or down-turning. If you don’t like the reality of this market, ask yourself, “Can I change this?” Continue reading How To Make More Sales
In this short sales session, real estate agency profit consultant, Gary Pittard, discusses the importance of clear and precise communication. He also points out the dangers of failing to push the ‘pause button’, instead sending abusive messages that you may later come to regret. Negotiation is the Game of Life, says author Chester Karrass. The better we are at communication and negotiation, the better our professional, and personal, lives will be.