If there’s anything that is guaranteed to catch the attention of a consumer, it’s the sales pitch.
Making a lasting and memorable first impression is vital to establishing a lasting and productive relationship with clients.
The expectations are the same in the real estate industry and the sales pitch is one of the best tools out there that can determine the success of a real estate agent.
It becomes a powerhouse when done right, however, it can also be damaging and impacts one’s reputation when not done properly.
Here’s an effective multi-step sales pitch tip from some of the most successful real estate industry leaders who found it effective and are using it to win more clients today.
Begin with a two-step approach
Establishing professional relationships takes time and effort and those who ignore this fact tend to skip this and start with cold pitching.
It is important to start building rapport with a vendor, especially when meeting with one for the first time, by listening and understanding their pain points and what triggers their happiness or pleasure centres.
For instance, you see a golf trophy proudly displayed behind a potential client’s desk and you happen to share the same passion, making it a good conversation piece. But make sure the connection happens naturally and does not appear deliberate or forced.
Surely, a second meeting is highly likely to be arranged where you may be able to make your sales pitch, this way, you also get to know how to hit the right spots.
Listen then talk
The aim of preparing for a sales pitch is critical and it all begins with sizing your potential client first and resisting the urge to sweet-talk or dazzle vendors with their professional experience and career highlights.
Rather, agents should aim at building rapport by initiating a dialogue with a question and answers interaction, which could provide you with a good way to explore and understand them better so you can be in a position to offer them the best possible outcomes for their real estate journey.
Define and understand your vendor
You must determine the personality and behavioural traits of your vendor so you can be properly guided on how you can effectively communicate with them.
As an agent, it may be important to do your research on how to uncover the different common personality types so you may be able to know how to effectively approach, speak their language and deal with them accordingly.
Identify and assess a problem
For your vendor to know what you are doing and what value you can provide to them, discuss the pain points and pleasure points that you were able to uncover so they can be confident that they know that you are competent and knowledgeable at what you do.
This is how you can position yourself as you make your sales pitch because as you ask for previous experiences, you may be able to determine what path the conversation may take.
Be cautious, though, not to fit every vendor into the same template because you might not be able to provide the best solutions based on your own bias, rather, picture their past experiences and see how you can position yourself to provide them with the best solution for their concerns.
Always be prepared to make your pitch
Always come prepared and when you have the opportunity to make your pitch, make sure to deliver it in a way that you also have the data and other information to support your stand.
Think of your pitch as a proposal that you bring before your client as it is the best way to state a problem or issue, provide alternatives and present your solution.
Don’t forget to jump along with them for the ride, so they stay confident that you are with them every step of the way.
Set and manage your expectations
As always, vendors are generally eager to have their say on setting the price for the property they are offering in the market.
As an agent, be prudent enough to avoid making fantastic promises and be more realistic with the price points. This is a key consideration for all agents because your perceived competence in what you are doing will be the determining factor in letting your vendor trust your judgement.
Always set and manage the expectations of both you and your vendor by basing any price offered on the current market conditions and how they can achieve the best outcomes for their sale.
Avoid making any offer or promise that may not be achievable towards the end because it can damage your credibility and reputation in the industry.
Explain cost and value
Make it a point to always educate and inform your vendor regarding cost and value not only with their property but with your service as a real estate agent.
Vendors are often tempted to request a discount on the commission with the agent, but it is vital to educate them and explain the difference between value and cost.
As an agent, you are offering your value as someone who can provide vendors with the best outcome of their real estate experience by merit before cost. Do not take the first step in offering a discount, rather, focus on how you can provide them with the tools to get the best value out of their sale.