Having been active in the commercial property industry for many years, I have seen one key fact of team performance that stands head and shoulders above everything else in the function of a successful real estate team. It is the practice of specific scripts and dialogues that apply to the many situations that arise in day to day agency work. That is in:
· Prospecting for new listings
· First appointment with prospects or clients
· Presentations or pitches for new business
· Inspections of properties with buyers or tenants as the case may be
· Negotiations with complex sales or leasing events and properties
· Price and rent offers and counter proposals
· Closes of different types.
By practice I mean regular practice times each week or each few days for the individual members of the sales and leasing team so they can improve the relative dialogues and refine them. The teams that do the practice will always be better in the presentations and closes that they implement in listings and inspections. They will simply be more confident and it will be just so obvious to the prospect or client they are dealing with.
Each and every property market has its own challenges, and the current one is no exception. On that basis there will be special problems that you will strike each day quite regularly. So in tough markets like this, these are some of the most common problems you will strike:
- The price of the property is too high
- The price or rent offered by the buyer or tenant is off the mark
- The client or property owner does not want to put in any marketing money to the sale or lease campaign
- The client wants to open list when exclusive listing would be much more effective
- The method of sale or lease that the client wants to adopt is not a good match to the type of enquiry that is coming in currently.
- The types of adverts to be used in the marketing campaign are different to what the client wants to use.
- The client does not want to publicly promote the property or advertise it in the weekly commercial newspapers.
These are all special situations in real estate agency that can be well handled with some practice. Regrettably most salespeople just ‘wing-it’ and struggle with the problem in a fairly basic way.
The best way to handle this and to fast track better results in your dealings with clients and prospects is to practice your scripts and dialogues on a daily or weekly basis. The more you practice, the better the results. Such a simple formula, and yet so few salespeople undertake the discipline and skill.