Broker Strategies – How To Rise Above The Competition

Like any talent, sales and communication skills sharpen with practice. You should practice real estate sales techniques in your head, practice with a trainer or a coach, practice with your spouse or partner.

To be an effective broker, you should practice your scripts, practice presentations, practice answer to questions at every opportunity you get. You need to practice in order to be able to deliver the message in a natural way as if it were yours.

Build Rapport And Qualify Prospects

All of your business development activities, like canvassing, networking, sending out mailings, marketing, advertising, and obtaining referrals from former clients, generate leads. The key challenge is to quickly qualify the leads and to build working relationships with most promising prospects.

You need to promptly develop a sense of trust and, at the same time, qualify prospects’ intentions to buy. In sales it is important not to waste time with prospects who are either not serious about buying or are not in a position to buy (e.g., they may not have the money, may not have the authority, etc).

Therefore, the most important skill in the early stage of the sales process is to find a balance between (a) building rapport and (b) qualifying prospects and to perfect each of these two elements. People tend to make judgments about others quickly, and in sales, prospects form an opinion of you during your first interactions. However right or wrong, your prospects will decide immediately if ever they can trust, depend on and work with you. This is why building rapport with prospects is an important component in becoming a highly successful real estate broker.

Make a Quick And Positive impact.

Around 90% of communication is translated through non-verbal communication. The facets of this include facial expressions, physiology, and body language or positioning. But it also includes your tone of voice, and such other factors as your choice of clothing or the car you drive. Prospects tend to react more to what they think you meant to say, rather than what you actually said.

Thus, when building rapport with clients, pay just as much, or even more, attention to the non-verbal signals you send out as to the words you use. Make sure that you shake hands with everyone, smile and project enthusiasm, constantly make eye contact specially when talking about money, remove distractions while talking to your clients (e.g., turn off your cell phone) and dress appropriately and professionally.

Ask Definitive Questions.

One important aspect of building a sense of trust is “selling” yourself to the prospect by explaining how you work and talking about your success rate. Prepare a few short lines that you can use to do this. However, an even more important aspect of building rapport is to find out information about the prospects and their needs. Asking clear and concise questions communicates to the prospect that you care about their situation and conveys professionalism, or a sense that you are going to take care of them.

Move the Process Forward.

You should ensure that you stay in control of the process and actively advance the sales process forward. It is important to avoid the state of indecision, like a situation where you keep showing your clients house after house while waiting for them to fall in love with one. Make sure you manage the sales process by controlling the conversation. Don’t let the process get tied up with unimportant issues. Keep your buyers focused on the purchase. Outline the process for your clients and make concrete suggestions for proceeding forward.

Focus the conversation around issues that are important to the client and the sale. Limit your discussion of personal issues. In order to develop an ability to effectively move clients forward in the sales process, think through the objective of the meeting or the telephone conversation in advance. If you can establish a purpose before your meeting or a call, you’ll be more likely to accomplish that objective.

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