No one is born a savvy salesperson. Luckily, this skill can be honed and polished. While some may admit to not being cut out for sales, selling is actually done by everyone on a daily basis. When kids want something in a toy store, they sell to their parents as to why they should buy it. When one is seeking employment, that person essentially sells his or her skills, work ethic, and personality to the prospective employer. These are but two of the many ways people sell.Now, while almost everyone is a seller, it takes a lot more to make a career out of it. Savvy selling is not merely about being persuasive, as some of the best ways to get something sold do not always involve the “hard sell.” Here are some of the ways one can be savvy at selling.
1. RECOGNIZE COMMON MISTAKES AND TRAPPINGS
Knowing the right things to do begins with knowing what mistakes to avoid, and in terms of selling real estate, one of the most common is not recognizing what your buyer wants or needs. A common trap is being too eager to give out your sales pitch and showing how much you know, that you neglect to ask what the buyers want or need. In the event that you do ask, another mistake is asking only about the amount they are willing to spend. At worse, you may be so pre-occupied with your pitch that you interrupt or not listen when the buyers share information about what they are looking for.
2. PUT CLIENTS FIRST
Real estate professionals are considered to have “fiduciary” responsibilities to their clients. This means putting the clients’ interests before their own. While sometimes a challenging aspect of selling, it is important to keep with these fiduciary responsibilities. By doing so, your concern for your clients’ real estate needs will have you building rapport. This leads to the establishment of a relationship, which, ultimately, is the foundation for the holy grail of sales: trust.
3. BUT DO NOT LET THE RELATIONSHIP GET IN THE WAY OF BUSINESS
When you spend plenty of time with clients, you might be getting too friendly with them that it compromises your ability to negotiate with them firmly. While establishing trust is key, the relationship preceding it must be kept off of the negotiating table. Remaining polite, professional, and amicable throughout your sales meeting should allow you to still negotiate without inviting hostility or distrust from your clientele.
4. AVOID NEGOTIATION SURPRISES
For a successful sale, it is important to assume that the process will not go as smoothly as you would like. Granted, there are instances where it is easy, especially if the property is so great it basically sells itself. However, everyone wants a great deal, and even if they like what you are selling, they will try to get it at a bargain.
So try to predict client responses beforehand, and establish an idea of how you will respond. Also examine the selling process from different perspectives and ask yourself what you would want from the negotiations if you were the buyer. Assess in advance how much you are willing to compromise to appease your client, without costing yourself or the property owner any significant amount of profit.
5. REMEMBER: NO ONE IS BORN SAVVY
As previously mentioned, everyone has the innate instinct to sell, but hardly anyone is naturally sales savvy. It is a talent that can be expanded and cultivated, and luckily the real estate industry is one that has plenty of seminars and educational resources. While anyone can learn as they go, the savviest of sellers also hone their craft by taking advantage of all the opportunities made available to them.
6. SELL PURPOSELY
It goes without saying that you need to have thorough knowledge of what you are selling to effectively pitch it to potential buyers. This does not just mean measurements and physical features, but also genuinely knowing what it can do for other people and understanding how it adds value to their lives. As previously mentioned, clients’ needs come first, and you can proactively connect with them by readily knowing how the property you are selling can meet those needs. This also makes you more purposeful when choosing which clients to contact and pitch, as it will be wise to focus your efforts on those who would most likely buy.