Are you looking for ways to increase your profitability, without increasing time spent working, or marketing spend?
Of course you are!
That’s why I put together the three key leverage points that you can use to skyrocket your profitability – without spending more time or money in the process.
With just these three leverage points, you can see a huge impact on five important key performance indicators (KPI’s) that directly affect your conversions and sales.
The 3 Leverage Points
- Over The Phone Selling
- Face to Face Presentations
- Objection and Commission Handling
If you hone your skills and improve your performance in these three areas of your business, the rest of your sales pipeline can stay the same from the top of funnel drop-in (leads) to conversions throughout the remainder of your pipeline.
Even just one significant improvement to one of these three leverage points will have a huge impact on your business.
If you are using our Houseable technology already, it will be easy for you to pinpoint your conversion rate at these three key leverage points. If you don’t have our software, you will need to put in a little extra work upfront to find out how you are doing (Hint: the first step to knowing how you’re doing is tracking your KPI’s).
Let’s dive in.
Over The Phone Selling
- Appointment Set Rate
- Appointment Show Rate
One sure way to kill your business is by not having a clue what to say to a prospect or lead that comes your way either by referral, online, call-in or follow-up.
When I call in to test other Realtors on their Inside Sales, too often they talk about things that are only important to the REALTOR, not the client. Another important element: they don’t make any offers to interest the prospect and inspire them to take action.
The key to great over-the-phone selling is making great offers, and you need to make offers FAST! Otherwise, you’ll lose the interest – and business – of the prospect.
Once you make a great offer and have convinced someone to meet with you, you need to qualify them so you can avoid wasting your own time.
So, if you get a call from a prospect and you are stumbling on your words and not sure what to say to get them to the next step, improve this FRIST before you buy more leads or worry about anything else. If you can’t convert over-the-phone leads to in-person meetings, you’re leaving a lot of money on the table.
Face to Face Presentations
- Client Signed Rate
- Onboarding Net Promoter Score
Without presentations and clear communication, the second area where your business will suffer is at the presentation table, for both Buyers and Sellers.
It’s scary how many REALTORS work with buyers and have no buyer representation agreement signed. It’s because they don’t know HOW to present to Buyers.
Most seller presentations include a walkthrough, CMA, and a prayer that they will sign a listing with you.
Just like your phone selling, your face to face selling needs to be planned out and well articulated
Most importantly, you need to be consistent. The offers you make over the phone need to be consistent with your presentation, and your presentation needs to show that you are a true expert and are able to help your clients achieve their goal.
Lastly, your presentation needs to set clear expectations as to what happens after a client retains you for service. Setting clear expectations allows for smooth onboarding, reduced buyer’s remorse, and higher client satisfaction.
If you don’t have a presentation that is designed to win more listings and sign more buyers, then you need to fix this immediately.
Getting people in the door is exciting, but having them leave without a signed agreement is not how to win back your time or your profits.
Once you have a finely tuned presentation, you can teach it to your team. If you can teach a team of people to sell over the phone and present to clients, you have duplicated yourself and are now ready to ”make money while you sleep.”
Objection and Commission Handling
- Average Commission Rate
Your presentation should handle all the objections and commission queries. But if it doesn’t, you need to know how to position yourself so that your prospect understands the advantages of working with you. You need to do this to ensure you can get your full commission rate. Cutting your commission is the worst thing you can do for your business.
That is a full separate article that I will need to write for you so you can understand how deeply reducing your worth costs you.
The secret to tying it all together
Whether you get a referral, get an online lead, an open house lead, or any other kind of lead, it all boils down to the same thing.
Your client, when seeking services to buy or sell real estate is in a “Before” State. They want to get to their desired “After” State but just don’t know how to do it.
The gap between the Before State and After State is where your business comes in. You need to be their Guide, the vehicle that provides the transformation from the Before to the After.
Your phone selling and presentation needs to articulate that you can be that vehicle, guiding them with a clear plan of action.
If you need help with any of this, I would urge you to take a look at my Growth Mapping program.
The growth mapping program includes 6 months of software, bi-weekly growth mapping live lessons and weekly implementation coaching calls.
The first part of the Growth Mapping is building your “Setup”.
A portion of the setup work is digging deep into the value you can offer, which pulls out the content you need to articulate in your offers and presentation.
As a bonus, I even provide you with what I am doing at the Zahnd Team, which includes proven and effective scripts, presentations and offers we make to our clients.
We just ask you to make them your own and not copy them word for word.