How is your office going for listings? Would you sell more if you listed more? In Australia and New Zealand, many real estate people are facing the same challenge.
Some offices that complain about a shortage of listings were suffering the same affliction pre-COVID.
If that describes you, it’s time to do something about the problem. If you don’t build stock, you will waste a good boom.
There are some ‘levers’ you can pull to boost your stock levels.
Your agency must become a ‘marketing factory’. There are three ways to market for listings and you must have all of them working for you.
This is hardcopy marketing. You should blanket your area with proven, effective leaflets and direct mail. It takes time to build momentum from marketing and you must be consistent. Every month, every property owner must hear from your agency. This is branding in action.
You should have an effective social media marketing campaign, but more importantly, you must have a consistent direct email marketing campaign. Sure it takes time to set up, but you’re missing listing enquiry if you aren’t contacting potential clients as often as possible.
How much prospecting for new listings is your team doing? Regardless of the market, some salespeople will always say they’re too busy to prospect. But is there a higher priority now? You can’t sell what you haven’t listed.
Leaders often say that the standard of their salespeople’s follow-up needs improvement. Now is the time to work on that improvement – diligent follow-up has never been more important.
As the leader, do you speak with every client who’s listed with your agency? It is important to know that your clients are being looked after by your salespeople.
- Present better
If a salesperson is losing listings to competitors, you must work on improving their presentation. It takes as much time to get a listing as it does to lose a listing. The better the listing presentation, the higher the present-to-list ratio and the higher the number of listings the agency has available to sell. Incompetence is a huge cost to a real estate agency, and I mean huge!
- Close better and more often
Are your salespeople getting the listing at the initial appointment, or do they often need to return for a second attempt?
If they aren’t closing most listings at the first presentation, they may need a better presentation and they will almost certainly need to learn to close better and more often.
A good way to improve your salespeople’s listing presentations is to have each one present to you in a role play.
Replace what you sell.
A good discipline for every agency and every salesperson is to replace what you sell. If you made 5 sales in the month, you must replace them with at least 5 listings. Keep this discipline alive and you won’t run low on stock.
I’m a great believer in fixing persistent problems and fixing them properly – once and for all.
Listings are out there and if we want more sales we must find them. More marketing and more prospecting carried out consistently and over the long term will have you saying, “Low on listings? Not in this office!“.
Think about all of the meetings you have ever attended during your business life. Were most a waste of time, if not downright tedious?
In this short leadership session, real estate agency profit consultant, Gary Pittard, discusses the importance of running results-focused, dynamic, meetings.
The purpose of a meeting should be to discuss matters that need attention – to decide what needs to be done, who’s going to do it and by when, and to set results-focused actions to be carried out by the next meeting. Then it should end, and everybody should get to work.
Meetings should lead to results, and not to boredom.
We hear a lot about Time Management. I talk about it sometimes, but in reality Time Management is the wrong term. If you think you can manage time, good luck.
The fact is you can’t manage time. An hour is 60 minutes. You can’t manage 60 minutes to become 90 minutes. An hour is an hour no matter how much ‘managing’ you do. And, all of us have the same 1,440 minutes in our day. You will never get more. Give up trying to manage time.
We don’t manage time: we manage ourselves within the time we have available.
Who would have thought that many real estate businesses would have had bumper years despite the COVID-19 pandemic? But this was the case for many real estate agencies, and for many real estate salespeople.
It is predicted that 2021 will be even better than 2020, and here in the second quarter of 2021, that appears to be the case.
In this short sales session, real estate agency profit consultant, Gary Pittard, asks “Is this the same for you? Are your results booming? Is your career?”
If you’re not making the most of this sellers’ market, Gary offers some sound advice on how to reverse your fortunes. Plan or struggle – it’s your call.
If I asked you to identify somebody in your team whom you
Companies go stale. Keep doing the same thing for long enough and eventually the company loses its edge.
In this short leadership session, real estate agency profit consultant, Gary Pittard, says that a complete reinvention can do wonders for team enthusiasm, market awareness, and public perception. Reinvention is the spice of life.
The purpose of a reinvention is to force change, to do things differently, to remove stale practices and to renew corporate energy and enthusiasm.
Do it properly and you will revitalise your company’s image in the market, improve team morale, and it will inspire you to seek other opportunities within your market.
Who would have thought that many real estate businesses would have had bumper sales numbers despite the COVID-19 pandemic? But this was the case for many real estate agencies, and for many real estate salespeople.
It is predicted that 2021 will be even better than 2020. That appears true as we enter the second quarter of 2021.
But is it so for you? Are your results booming? Is your career?
Many years ago, somebody said to me, “If you can’t make money during a boom, get out of the industry” but that is a bit harsh. Many salespeople receive just a little typical industry training. Frankly, it doesn’t work, and it doesn’t encourage repeat business.
Although you can sell everything you list, there is massive competition for listings. If you haven’t been taught effective methods for finding new clients, and then listing them when you give a listing presentation, you will do it tough.
But there is an answer:
We hear more these days about the importance of relationships between salesperson and client. Gary Pittard, CEO of the real estate agency profit consultants, Pittard, says, “When has sales ever not been about relationships?”
For professional salespeople, their relationships with their clients are paramount. Professionals know that no relationship means no sale.
Stagnation. It is the last thing a leader wants to see happening with the team. Yet, in the absence of new challenges – focused activities that challenge the team, putting a month’s focus on high-intensity activity designed to boost results – stagnation is a real possibility.
For example, many offices across Australia and New Zealand are short of stock. Why not set a challenge with the team and plan an Operation Stock-Up?
An Operation Stock-Up is a listing blitz that focuses on achieving a record number of properties listed by the agency in one month.
The leader and support team set up a marketing blitz that commences ten days before the month of the Operation Stock-Up.
Many real estate business owners believe that finding good salespeople is not easy. In this short leadership session, real estate agency profit consultant, Gary Pittard, explains that finding good people is NOT THE PROBLEM. Most agency leaders have found good people; they just failed to develop them into good salespeople.
Finding good people is just a start. Once you have them, it is the leader’s job to develop these people and help them grow into great salespeople.
Is the thought of an increase in your monthly targets daunting? If your leader told you that it’s time for you to list 8 properties a month, would you resist?
Most salespeople would resist because they look at the entire figure. Eight listings a month sounds a lot.
Funny, but it’s all relative. I remember times when salespeople listed between 10-15 properties a month without fail. As selling fees increased, listing numbers decreased. This tells me that most of the battle is in our heads. We imagine things to be tougher than they are.
I know one winner who said that right from the beginning of her career she expected to list 8 properties per month. She said,
You hear people complain about their competition