Last Updated on January 17, 2018
Have you found that you’re killing it with listings but not converting those buyer calls into buyer sales? Or, maybe you just want to expand your business by closing more buyer client deals.
I found our agents at my brokerage Lamacchia Realty Inc., here in Waltham, MA weren’t converting all (let’s be honest- MOST) of the buyer calls into actual sales and clients. After sitting down and studying the problem together, we found a solution.
What we found was that listening to buyers is the key to increasing your buyer sales. Seems overly simple, doesn’t it? But where REALTORs often go wrong is that they show up to a buyer appointment, and they immediately launch into their presentation, telling the buyers why they’re the right agent for them, without doing the one key thing that will get them the client:
Listening to what the buyer wants
Buyers, and people in general, are motivated by their own interests. It’s human nature. What’s in it for me? Once you truly understand that, as a salesperson, how you approach people changes. What if you entered a buyer consultation with that one thought in mind- not “How do I show them what a great agent I am,” but instead “How do I ask the right questions so I know exactly what this buyer wants in a home?”
To find the answers to those questions, you have to think about what a buyer truly wants. Buyers care about three things: Selection, Affordability, and Convenience. If you embrace that, ask the right questions, talk about those three points, and talk to them about how you’re going to help them achieve all of those, your buyer sales are going to take off.
This comes to you from my own personal experience. This is why I know what I’m telling you works- we’ve tested and proven this process.
It was the summer of 2012 and we were doing very well, as usual, with listing sales but doing terrible, as usual, with buyer sales. We built a real estate team in 2007 and focused heavily on listing sales for years, like most agents are told to do by all the coaching experts out there. But we were not capitalizing on our listings to obtain buyer sales. In 2012 we did 461 listing sales with about ten people and 49 buyer sides, of which about 38 were my personal sphere. We converted a whopping 11 buyer sales off of our listings. It was terrible!
I knew something had to change. We started doing trainings every single week and zeroing in on what buyers really want. Remember, that’s Selection, Affordability and Convenience. We began putting that into scripts and learning to talk to buyers about it. The key is having the right questions at the right times. We practiced endlessly every single week. The agents who came consistently and truly learned saw big increases in their businesses almost immediately.
We would also practice what to do on a buyer consultation appointment. We practiced the entire appointment, from the moment the agent meets the buyer until they signed on the dotted line. In addition, we would discuss everything involved in working with a buyer from the moment the lead comes in until closing. To this day, we still train on these things.
And do you know what? We increased our buyer sales by 158% after implementing this training and practice. Changing our mindset that little bit, and practicing together really worked!
How do you get help in YOUR practice?
Ever wish you had someone leading you step-by-step when you have questions in the real estate business? Do you feel your business would improve if you had a little help?
Because I know it works based on my experiences and the experiences of the agents in my office, I feel confident offering it to you. The program we developed is called – REAL Training, and we use it here in our offices as well as share it with other brokerages, teams, and agents across the nation. REAL stands for Real Estate Education Advancement for Life. The program addresses real-world situations and prepares Realtors to not only better service home buyers and sellers but to grow their businesses.
We launched this weekly REAL Training program for Lamacchia agents back in 2012 because we felt strongly that agents should have access to ground level training conducted by professionals who have closed hundreds and in many cases thousands of sales. Since the real estate market is always changing the trainings are consistently updated with tactics and strategies that are applicable to agents’ businesses today! It is not hypothetical–it is concrete and practical.
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