Sales Management (and Personal Selling)
Contests and incentives
Confidence in the manager knowing the business
Can attract a better manager
Time available to monitor other associates
Concurrent upgrading of skills and new knowledge
Seminars and schools
Community building of associates
Contests and Incentives
Competition against other individuals
Competition against other groups
Teams within office
Competition against self
Personnel activity reports
Prospecting for Listings
Size of farm
Civic club affiliations
FSBO's (For Sale By Owner)
"Free" market analysis
Listing Management Procedures
Follow-up on unsuccessful listing presentations
By listing agent
Construction of advertizing
Sharing ad and informing owner of the cost
Good source of prospects
Usually not too successful in selling the property
Allowing cooperating brokers to show the property
Property showing follow-up
Ask for attractive aspects of property
Ask for negatives
Essentials of Communication
It must be heard.
Speaking clearly and loud enough
It must be understood
Speaking slow enough
Using slang regional terms. (pop, lift)
Using proper grammar
It must be accepted
The other party must want to hear what you are saying
Agreement is not necessary
It must be acted upon (dialogue)
Bad Listening Habits
Listening to only the facts and not the feelings.
Avoid difficult listening (too tired, bladder timeouts)
Failing to listen to uninteresting conversation
Failing to listen because of prejudices about the person's appearance, age, or delivery
Failing to listen because of distractions
Talking to avoid listening
Place your prospect at ease
Control environment--avoid distractions
Be patient with the speaker
Ask revealing questions
Avoid argument and criticism
Learn to be an active listener--listen to the feeling behind the communication
Try to discover the hidden agendas
Modes of Interpersonal Communication
Evidence of Effective Communication
Verbal--Defenses suggest problems
Defenses that protect personal standards and values
Defenses against control by others
Defenses against being manipulated or tricked
Buyer defenses against the clinical, coldly detached salesperson.
Defenses against superior "experts"
Defenses against dogmatic persons
Voice pitch, resonance, volume, rate, and rhythm
Laughing, coughing, throat clearing, and sighing
Momentary variations in voice pitch and volume
Extraneous speech habits--"ahs", "ers", "ums"
Make questions brief
Avoid yes and no answers
Confine questions to single topic
Keep to simple words
Do you need to move from your present apartment?
What do you like about your present apartment?
What do you look for in a neighborhood?
What advantages to you appreciate in your present location?
What features did you like most in that home?
Do you have any hobbies which might influence your housing choice?
Mirror Questions (Reflective)
Isn't it true ...?
..., haven't you?
..., don't you?
The payments are too high.
Look at equity build-up
Look at after-tax costs.
A newer property is better than an older one.
Lower out of pocket expenses. (Basic landscaping already done)
Common Objections (Continued)
The moving costs are too high.
Offer moving allowance
Cost to business of not moving
The house is too far from the job.
Examine the extra time per day.
Examine the benefits--recreation, less crime.
Show best route to work.
Closing the Sale
Reasons for Failure to Close
Personal lack of confidence
Personal guilt feelings
Poor selling tactics
Clues indicating Closing the Sale May be Appropriate
Frequent eye contact between parties making the decision (husband and wife)
Facial expressions indicating approval
Prospects asking to return to a property
Prospects returning to key rooms
Prospects undergoing detailed inspection
"We always wanted ..."
"This is really a great ..."
"I really like the floor plan."
"What would the payment be?"
"When could we move in?"
"Our ___________ would go well here."
"What are the neighbors like?"
"Do the neighbors have any children?"
"How far is the school?"
Trial closings--"Shall we draw up the contract?"
The assumptive close
"Would you like to ask for possession by the 15th of next month?"
"Would you like to include the draperies in the contract?"
"If the seller would be willing to take a second mortgage for $_______, would you be willing to put down $_______?
Summarizing in logical sequence order of presentation--schools, neighborhood, lot, construction, rooms, etc.
Summarizing the points of common agreement--work from the most certain to the least certain.
Finish with asking for the earnest money amount.
Closing Techniques (Continued)
The direct close--"This is the property for you. Tell me what you want to include in the contract."
The balance sheet approach (Ben Franklin approach)
List the advantages on one side, the disadvantages on the other.
"On balance, the advantages seem to outweigh the disadvantages. This seems to be good, don't you think?"
Closing Techniques (Continued)
Closing on a single objection--"If we could solve this problem, would you be ready to buy?"
Closing on minor details--keep the prospect answering "yes"
Postponing the Close
Reading too much nervousness
Don't allow too much time to pass (avoid waiting more than one day.)
Types of Advertising
Goals of Company Advertising
Creating a positive community service image of the firm
Creating an image which the community identifies with achieving positive results
Creating an image of the firm which positively separates the firm from its competition.
To identify the firms business activities
Goals of Property Advertising
To attract interest in the property
To attract interest in the firm
To attract interest of prospective purchasers
To attract interest in prospective sellers
To satisfy the property owner
General Rules for Advertising
Make adds positive; avoid negatives and stereotyped phrases
Emphasize the leading amenities or benefits
Be truthful in your adds
Use adequate descriptions
Make it easy to respond to the ad
Advertising the Company
Business cards, stationary, contracts, and forms
Talk show radio
Real estate columns in the local newspaper
Invitations to list ("free market analysis")
Invitations to buy--apartment buildings
Pens and pencils
Garage sale signs
Public radio and TV
Point of sale sign
In targeted buyer populations
Neighborhood employer parking lots
Neighborhood shopping centers
Neighborhood recreation centers
Most effective adds contain:
Location of property (at least neighborhood)
Number of rooms (especially bedrooms)
Price and terms
Age of house
Present condition of house
How the house is heated and cooled.
Parts of the Ad
The heading--attention getter; should focus upon consumer benefits.
The body of the ad
Provide as much information as possible
Avoid too much abbreviation
Should support headline
The closing--firms name, agents name, and telephone
Use of white space
Private point of sale (Some firms use low power AM or FM radio stations placed on the property to promote the property's features. A sign on the street instructs those who are interested to tune their radio to a specified frequency.)
Some firms allocate a fixed percentage of sales (5-10%)
Advanced planning and capital budgeting
Coordination of adds
Allocating the advertising dollar