The Sales Success Formula
I did a talk last week to a group of Real Estate agents and it was very well received. I taught them the Sales Success Formula and how to incorporate it in their businesses. Here is a summary:
The 4 crucial areas to develop skills in are:
The number of opportunities (lead generation)
Your conversion rate
The size of the sale (work to raise your average sales price)
The length of the sales cycle.
You have the ability to influence all 4 of these areas, and the best one to start with is the number of opportunities you have. Consistent lead generation will ensure your business is healthy and your pipeline is full.
Successful people play where opportunity is.
Increasing your conversion rate is accomplished by learning and mastering scripts, understanding common objections and how to add value to the prospects life.
Increasing your sales price should be an aim of all salespeople, especially Real Estate agents. Would you rather sell 50 $100,000 homes in a year or 10 $500,000 homes? Same income, very different work levels. Go to my blog to get more ideas on how to do this.
The length of the sales cycle can be shortened by working to get buyers approved early on and negotiating with motivated sellers. Learn to refer or leverage the complex transactions that are going to take 6 months or a year to get closed. Spend time helping people who need to buy or sell right now, there are plenty of those!
Have a fantastic day!