I was in the situation before, that I couldn’t do enough sales missing out on my incentives ended up earning low.
Managers and sales head hitting hard on me for sales numbers, I would do everything fine but customers didn’t turn up back for me.
Where was I going wrong? How did I sell crores in numbers after doing a fine tune for my sales routine, if you are someone who is in this situation this article will make you move further.
Sales is a learnable skill, this comes over a period of time. Read the complete blog to know where you are missing out and check where you can correct and achieve big numbers in sales.
Real estate sales are not the regular sales that you would sell to anyone on the street, you are dealing with the emotional being on the other side.
Are you a salesperson who is frustrated and thinking of quitting sales before you make any decision? Read this article on how you can come over your current situation and sell real estate like a pro.
Buying a home, Plot, Apartment Villa is a lifetime cherishable and auspicious moment for most of the human beings out there.
Yes, I agree there are people who do it for investment purposes who do quick selling and holding it for long-term profits these are the least amount of the group.
Real estate Products are high in value and need a certain time slot to decide finally who would make up his mind to purchase.
If you are the person who is selling residential property to anyone, you should be highly motivated and should be in the mindset of understanding the person who is in front of you.
In the mindset that you are about to add greater value to his buying process, feel proud that you are part of his buying lifetime dream.
If you are struggling to sell real estate or finding any difficulty in doing sales you might need a fine-tuning or corrections here and there to sell like a pro.
As I said earlier you are dealing with a highly emotional situation of being present in front of you.
How you should be prepared for your high-value sales and what are the tricks that you can use for selling you can find out by reading the full article.
These are the tricks and strategies most of the salespeople used over time and succeeded especially real estate salespeople, and even myself used these methods.
You will learn How to keep yourself
- Having the right mindset for real estate sales
- Understanding your customer
- Exchange value
- Nurturing leads
- Authority building
- Exchange value
- Nurturing leads
- Authority building
- Site visit protocol
- Steps to follow for sales
- Objection handling
- How to get the reference from the previous clients
Let’s go deeper into the mindset that salespeople should be having to deal with the high ticket sales.
The real estate sale is not a regular product selling on the streets as I said earlier it is being a part of someone’s dream.
I would like to give you an example. This example is not new, many great authors used this to explain exactly what you are doing right now you are doing.
There are 3 people working to build a new temple. A random guy asks the first person
Hey! What are you doing?
- I am trying to earn my living hood by doing this job building a new temple
2 person with the same question
- This is a painful job I’m working black n blue just doing the job and i hate it
3 person with the same question again
- I am going to be a part of this magnificent temple that is going to come in future days.
3 persons 3 different responses, it differs from person to person, even the companies failed to communicate those salespeople to be highly motivated just by saying, hey if you help this person right you will be part of his auspicious journey making him his own lifetime dream.
Isn’t it great to be a part of his life journey?
You should check out Simon Sinek start with why? In his book, he says that why you do what you are doing is more important.
If you don’t have the right mindset of why you are doing you will probably be undermotivated.
Choice is yours
- You can just sell what the company is offering to customers
- You can cry and crib this is a frustrating and hateful job
- You can be highly motivated to be a part of his lifetime achievement for the emotional human being that he might remember for you ever.
Even refer you to other people. I know every time a person turns down the call you feel undermotivated and frustrated, keep the spirits high, for a salesperson it is mandatory to listen 1,000 NO Correct yourself and move further.
Don’t worry I will be telling you how to handle the sale objection that you will face in real estate in the coming sections.
Understanding your customer
This is the crucial point most of them would go for a toss, what happens most of the time is that a lead comes to the system and you just tend to follow up for the site visit.
This shouldn’t be the case, it’s a very very crucial moment to understand your customer very well to qualify for the next step.
Of course, if you have digital marketing set up and tele calling they would have done the qualifying process of a lead.
The Qualification process is just asking certain questions to a lead before he enters your system like asking open-ended questions.
Like for example what his income? Age? Where does he currently live?
Asking These questions to lead before entering the system would qualify him to enter. I will be giving you elaborate questions you can ask once he enters the system.
When the lead comes to you, don’t be in a hurry just to pick a number and call, sit back, relax and go through the profile that he has enquired for what are his requirements, and so on.
In addition to that, don’t be too late to call him, whenever a lead comes to the system he should be contacted in the next 24 hours, or else your lead might not show much interest.
- When you log the call ask whether it’s the right time to speak.
- Introduce yourself so and so.
- Why have you called him?
- Mention the product that he has asked for
- Give them proper details of what he has asked
- Ask for any further details he needs over the call for other products also if he insists.
- Asking for whom you are looking for this property, for his own use? For investment purposes? for his future? For his children?
- Why these questions? It not only makes you understand the customer, it has an emotional quotient to it. I will be explaining more in the sales portion.
- Sending him proper mail or a message of the product in detail that he asked for.
- Show upfront in the first impressions that you genuinely want to help in availing the product for him.
- Asking more and more questions will make you understand better what he is looking for.
- When you face the customer upfront this is the best time to dig more into the customer’s mind, throw him the questions in a very smooth way, don’t be a counselor.
- Understand so well that you really care for him, always give more information about what he is expecting.
- Why exactly is he looking in a particular location?
- Asking for his particular needs/ any expectation
- Whether he needs any financial assistance to own a property
Asking these questions would definitely help you analyze and craft a persona of your customer, what is he expecting from your end.
If you have everything in place that you have understood from him, you are good to go!
What does the sale mean? The definitions are changing in recent days, sales don’t mean you pushing the products to the customer.
These techniques are gone if you are too pushy you will end up losing sales.
You should understand that sales and closing the deal are two different things.
Sales simply mean that you exchange the value in return for what your customer is willing to pay.
Value in terms of what you are giving to the customer, how can you make him go from the current situation to the desired situation that he is aspiring to.
It’s all about how good an experience you make him feel, make him visualize what he is getting in exchange of what he is paying.
Making him visualize his desired position if he owns your product.
Like the earlier examples if he is looking for his own use – quote the benefits of how he can experience living in this environment.
If he is looking for Investment purpose – quote the benefits of the location of upcoming developments nearby, make him visualize 5 or 10 years how this location or property would look like.
If he is looking for children – quote the benefits of nearby education institutions if the kids are too young, list the college names, quoting all the benefits that make the greater experience for their children to live in a certain community or location.
If children are in other countries, make them visualize how good and rich lifestyle they will get living in a certain community or location.
As I said earlier, why should you ask these questions?
It’s all about catching hold of his emotions, if he mentions any of these reasons, you should be observing on what points he is stressing out.
Catch hold of the emotion whichever he mentions and stress more about what he will get if he owns this property according to his emotions.
If it’s for children, investment, own use, and future development you now know how to deal.
If you have a Unique selling proposition please do mention, tell them how different you are from others, apart from asking the questions give more in-depth details that he wouldn’t expect.
Not only these questions there are others too just observe the conversation or make him say why he is looking for this property. Your job for addressing problems will be too easy.- In short, we call this problem-solving.
Humans buy emotionally and justify it with logically this we call Post-purchase dissonance.
Whatever the best of the best features you may offer him, there will always be an emotional quotient that he cannot explain.
That’s why catching hold of his/her emotions is always tricky and makes your job easier in converting them into sales, you just have to be persistent in observing and tapping at the right moment.
As mentioned earlier this is just a sales portion. In the next step, you will know how to close the deal. Closing is very different and the main part you should take care of.
How to close the real estate sales Closing
Closing the name itself says the end of a particular transaction, through the sales you have done matching your solutions to the problem that customer has.
If everything is perfect and is in place what your customer has asked for, the lead should close automatically.
Pulling out his cheque book and handing it over to you.
If this voluntary closing doesn’t happen from customers you need to pull out some extra technique to close the deal. – this is a rare case.
So what are the technique that can work here?
- Creating a certain urgency FOMO Fear of missing out.
Use this technique only if there are only certain units left or if you are going to hike the prices of your product.
Making them understand that if you don’t buy now you will have to pay a higher price if you want to buy next time. This is a one-time offer.
If your products are selling soon you can give them what units that you are left with.
This usually makes customers think in a certain phase to act upon what you are offering.
In addition to this please be genuine, customers hate if they get to know you are lying and your brand image and your personal reputation surely will go for a toss.
And surely will lose the reputation.
- Match the objection and your solutions
Ask customers if there are any other reasons why they shouldn’t be closing the sales?
Ask this question at the right time, what happens if you ask this question Read below carefully.
You have answered and gave all the solutions for your customer objections that they had.
So now you are telling the customers directly that you have certain objections and I have solutions for everything that you asked for.
Problem 1 we have Solution 1
Problem 2 we have Solution 2
Problem 3 we have solution 3
Ask them still if they have any objections or problems that need to be addressed, if they have any they will surely ask you.
If nothing comes up from their end make a MOve Here Ask them a Direct Question If you don’t have any objections can we close the deal here?
And be quiet at the moment, whoever opens the mouth loses the deal here.
If you open up you will surely lose, that’s a great loss, if the customer opens up the mouth he loses the sale for you that’s absolutely agreeing with you.
These are the techniques that are mentioned in the book “The art of selling” by Brain Tracy in his books, again these are the psychological tricks.
If the customer has any more objection he will ask you or just agree or deny the product that you offer.
Asking direct open-ended questions will make you analyze whether he will buy or not, if he don’t you are saving a lot of time for yourself for the next customer.
- Ask more open-ended questions
Ask customers more and more open-ended questions like
- When he/she is planning to buy?
- Do they need any financial assistance?
- Ask them when shall I call back for a response?
- Do you have any doubts or need additional information?
Asking these questions makes customers answer with a genuine response, depending upon the response you can always analyze whether this prospect will buy or not.
How to handle the objections in Real estate sales?
Objections are those where your customers need certain clarity or something is stopping them from making the decision process to buy your product.
If a salesperson like you is able to handle this objection there is very little chance that your prospect will miss you.
When you see the objections, what are the main common questions that you face when your customer is on the verge of rejecting your deal?
Let’s see some of the objections that he might throw at you, and how well you can answer them and win.
- I don’t have enough money to buy.
The customer has gone through your series of salesforce that is presented by, now he says he doesn’t have enough money, what does this mean he started assuming that he is not seeing enough value in your product that you are offering.
Let me give you an example: if you want to buy an 8 lakh rupees car, would you enquire for an 80 lakh car, where your budget is only 8 lakhs.
The customer knows your product price already, still, he is refusing, he might not see a real value.
To make a clarification on this it’s better to ask him if you need any financial help so that you can tell him you have tie-ups with the banks that can provide loans at attractive interests and easy payups.
If he really doesn’t have money he would think of getting a loan, if your product is delivering him immense value to his life.
If not he will just say another reason and deny your offerings.
2. The product is good but the location is too far away.
Another major objection that is common in real estate is location, what will you say if your prospect says this location is too far.
In these situations make sure you will give him the list of proximities that are nearby, always try to give proximities in the Driveability range, not in Kms.
Say for example for location A this much time is the drivability.
If he is concerned for his workplace make sure you give him routes that are there he might be missing out to notice.
Same for this kids and spouse school and office location.
Trade up money for his driveability time here, show him the difference that dear prospect you may be driving another 10-15 minutes more but you are saving this much money when compared to competitors offering.
The competitor is offering this much. We are offering this much, make him feel the difference just spending more minutes in driving will save you lots of money.
3. The price of the product is very high, Need more discounts
Another obligation that makes most of the deals miss out from the hands is when the prospect asks for additional discounts, to keep in mind that if the prospect sees an immense value in the product he would never drang a deal too much in such a case it is better not to deal with the prospect. Saying this is the best Price and can’t be lowered.
To make him understand better, dear prospect this is the price that we have sold until now for all the customers, we can’t reduce the price further, it makes us kind of uncomfortable or treat other customers unequally in pricing matters.
4. I need to ask my family members
According to most of the experts, this is not a real objection when he says this he is not assured of whether to make a decision or not, or maybe he needs more clarification on something on his mind.
It’s always better to ask if you need any assurance or clarification that you want to clear out, or if you are not the decision-maker or anyone associated with your decision-making process, please bring them also so that I can brief them about the product so that you can make your decision process.
5. I will get back to you after my decision.
This is the very common objection that every one of us struggles to handle in real estate sales,
The best way to have this objection solved is by asking 2 straight questions.
- Dear prospect, if you don’t like the product that’s ok, you can say it to me. I don’t feel bad about your decision, that’s completely ok. Because it saves a lot of time for me as well as for you also, even I don’t like to bother you with my calls often.
- If you are searching for any clarification on any of the product-related questions you can ask me.
In either way, he may just end the sales or if he has any objections he may ask you to address, I know these questions may feel directly on the face, but this is the way that can save your time, and a clearer report to submit to your manager on what has happened on a sales level.
6. Competitors’ prices are low or offer better prices.
In thIS case, it totally depends upon which brand product he is mentioning to you, make sure you have all the competitor’s offers, prices, amenities, all the features that they are offering, nearby you selling the product of the same category.
Make sure you compare your products with them. Please make him understand why you’re better than them.
This is the only way you can share with him at what cost you are offering him a great value to his life by owning your product.
Make prospects genuinely feel that they shouldn’t be trading so much value for a very small amount of difference.
7. How do I know this is the best?
Whenever the prospect makes this question this clearly indicates that he has certain trust issues.
Whenever you encounter this question make sure you ask him a more open-ended question.
What do you want to know more about?
Is this about the company?
Is this about me ( salesperson)
Is this about you who is not able to decide?
Any of these questions would make him think twice and answer what his real problem is in not believing in your product.
I will be updating this objection section regularly; these are just the common examples that we face in everyday real estate sales.
If you have read until this point please do let me know any other objections that you have faced, if so let our readers also know what is that and how to solve it.
So that it might help them to climb the ladder in real estate sales and succeed.
How to Nurture the lead and build authority?
This usually happens at the level of marketing teams, if a lead comes to your funnel they take care of Nurturing the leads until they make a purchase from you, you need not worry.
If you want to make them remember you or keep in touch with them for the next referral Please keep sending them emails on a regular basis at least once a month wishing on any festival occasion or any sort of special occasion.
If you are someone who is the subject expert you can send them educated mail educating them and adding more value into their buying process.
The intention of sending educated mail regarding the subject makes them feel that you are the subject expert and they can easily rely upon you over the purchase or next purchase or even they can give you a reference.
Whenever the leads come to you on whichever software you use ( Hubspot, Sell. do ) they have email and messaging options, if they didn’t buy don’t worry, keep the email ids telephone number so that you can keep it in touch with them on a regular basis.
This is all about how you nurture your leads from your end, that is individually how you can attract more sales who didn’t buy from you.
In this scenario we have already spoken to the customers once so that it helps keep up the rapport with them, if he will not buy at least he would give you a reference.
I don’t go much deeper into how your appearance should be or how to do tele calling obviously you know all these things to follow, if you need so please do let me know in the comment section below I will write a detailed article on how to do all these also.
Site visit protocol
Another major thing to follow on-site visit is to make sure you show them what are the things that they should be noticing before they buy, explain to them each and everything that they should know even if they miss out.
Knowledge over the product makes them think you have greater authority over whatever you are selling.
Appear yourself in a good manner and answer every question wisely without getting irritated, if you don’t know about the particular thing make sure you tell them you will get back to them by asking your seniors, sales head or Manager.
If you don’t know please don’t lie, customers hate being lied to. keep in mind, be cautious dealing with customers.
It takes several days to make a lead to visit the site, just a minute is enough to lose the prospect buyer so be cautious and handle very carefully.
There are people who make you irritated and go nuts, be patient and never judge the customers nicest of the prospect may not buy from you, maybe a rudest or a simple guy ends up buying from you.
I have seen my colleagues doing this sometimes, they judge and never handle the prospect properly and end up losing sales, so don’t judge treat every prospect equally.
Your every action impacts the person who is in front of you, if he doesn’t buy also be nicer to him and treat him well, you don’t know maybe he might end up giving you another reference.
If you want to know what are the questions that a customer might ask you please read this article.
These Are common issues and concerns I would like to mention in this article. There are people who struggle a lot in achieving numbers in real estate sales. Real estate sales are not at all easy because of the huge monetary commitment involved before your prospect makes his final decision.
Do let me know what you think of this article. If you need more articles, let me know. I will be bringing it for you in a simple language to achieve greater sales in real estate, I had been in these situations before. I know the pain point of a real estate salesperson.
If you are someone who can provide more insights on Real estate sales and help the needy salespersons you can always write to me, you can publish an article on this website and get paid also.
If you are someone who can write articles on real estate and solve problems of people and bring value addition in their buying real estate you can publish content here and get paid.