Real estate sales techniques
Real estate sales; what is the best technique? One of the main objectives of the Inmogesco project is to make help available to real estate agents through our blog with the best real estate sales techniques so that they can reach their full potential. Our commitment to the service they provide to their clients is one of the engines of our work. Another objective is to create the best real estate pages and have an excellent real estate SEO positioning. Today, it is essential to attract a lot of traffic and have a good presence on the internet to attract your clients.
And to serve customers, you need a deep understanding of new real estate sales techniques. Those that, over time, have proven to help agents get to know their potential clients better and allow an approach that favors both parties.
Today we want to summarize all the literature we have already published on this blog so that you can consult all the real estate sales techniques and strategies when needed.
What are real estate sales?
A real estate sale is an activity to help sell a property in exchange for a monetary amount. Sometimes it requires additional services such as home staging to be able to sell the property faster.
How do you achieve real estate sales?
So that you can achieve good real estate sales and make your real estate business more profitable.
Follow these steps:
- Offer service in your quality real estate.
- Analyze the real estate market in your area.
- Listen to your customers.
- Use different means of real estate advertising to attract your customers.
What is a real estate strategy?
The real estate strategy is a set of real estate strategies that focus on meeting two objectives: capturing real estate to sell later or rent and attracting customers who wish to buy or rent.
The most influential real estate sales techniques to sell
Process of selling a property
An individual who wants to buy or sell his house does not go through the same phases as someone who wants to buy a soft drink. Understanding the steps that consumers take when they feel the need is key to optimizing our resources and being more effective.
The CIMA structure proposes four steps to help you in the first phases of the purchase process.
Where the motivations of the client are so important:
Those levers and brakes that drive or stop our clients will allow us to anticipate their motivations and attract them to our real estate agency.
It can influence the vision of those points our clients are not visualizing. Thus, our commercial work will be more effective. And consumers will move forward in the real estate sales process, which is what we want.
This step of the model serves to establish agreements on previous points to move forward.
In this last step, we design an action plan with our clients. We take them by hand until the sale is achieved, improving their customer experience and satisfying their needs.
Enunciated in the 1980s, its author, the Japanese Noriaki Kano, establishes 5 categories to study the characteristics.
That a product must satisfy a typical customer:
According to the Kano model, we should include the surprising factors to the client, but if they did not exist, the client himself would not miss them.
These characteristics are pleasant for the clients when they are there, and they dislike them when they are not there. They are usually characteristic properties of the brand which distinguish it from its competitors.
They are those parts or elements of the product that are generally not used. If they are not present, customers do not feel dissatisfied. In this way, detecting these elements can save implementation and development costs.
Essential or basic factors
In this case, we would be referring to the characteristics that are a fundamental part of our service, without which it would not be complete, and that would cause great dissatisfaction to our client.
In the Kano model, the rejection factors are those characteristics that do not go with the ideal client or target we are targeting.
How to close a real estate sale – SPIN Method
Formulated by the Rank company in the 1990s, its simplicity keeps it going. The method takes its name from the English initials of Situation, Problem, Implication, and Need payoff, and offers us the necessary steps to establish relationships of trust with our clients that last over time.
The situation, basic questions
This first phase of the SPIN method can be applied to different situations, such as a phone call or the design of a seasonal campaign. It is time to ask simple questions to know our client’s primary data.
The problem detecting needs
To move towards the sale, the real estate agent must know the problems that their product can solve. In our sector, this phase is vital to gaining the client’s trust. We must “open our ears,” that is, dedicate 80% of the time we interact to listening instead of talking.
Involvement, building a future together.
A real estate expert will determine the consequences of the problems detected in the previous phase. These consequences generate losses and untapped opportunities.
Profit, everyone wins.
An excellent real estate business strategy can magnify the problems detected, and the client perceives it as such. This way will present the benefits more forcefully.
The exact definition of the 1-click method is:
- “The technique allows the customer to make purchases online with a simple click” (Wikipedia).
- Saving the search information from the beginning to allow immediate payment.
- Protecting the consumer from the trouble of returning to enter all the details of the search over and over again.
You can apply this technique in your daily work as a real estate agent by following these guidelines:
Your home… in one click!
You can keep a file with their preferences on your computer, organized consistently, and easily accessible. When this client contacts you again, you will have their file on your screen almost immediately.
The products of your real estate website are one click away!
Everything must be just 1 click away from the customer! Offering them a good website for real estate, orderly, fast loading, and the possibility of filtering their searches is, today, crucial. If you need to create a real estate website or renew the one you have, Inmogesco can help you.
Relationship with the client… in a click!
Your real estate presence on social networks will allow these clients to write to you directly without leaving the platforms where they like to spend their time. A contact… in 1 click.
Know Your Customer
Called KYC for its acronym in English (Know Your Customer), this real estate sales technique allows you to focus attention on the needs and concerns of your customers, getting involved in their future.
Some tips to get to know your client better and get the real estate sale:
- Try not to mention the house for sale in the client’s first 30 minutes of conversation. Take that time to get to know him.
- Do not try to give them a lesson on the real estate sector in the region, but answer their questions as a teacher who wants his students to learn.
- Be aware that your work helping the client does not end with the sale but must last over time and turn this client into a true ambassador of your brand.
- Try to guarantee the value of what your customer has purchased. Customer satisfaction at the time of post-sale should be your satisfaction.
And when will we know that we have mastered this technique? When your client comes to you with questions unrelated to the sale of the property in question but related to the real estate sector, or when the relationship that unites you with your client is no longer dominated by mere information transactions and passes from a state of “I have to” to a state of “I want to.”
In a world where we are used to being bombarded by advertisements and offers from professionals from different sectors, we need to work especially hard to attract the attention of current or potential customers.
The AIDA Model is based on four fundamental pillars to attract the attention of our interlocutor and take him wherever we want to direct him:
Attracts the customer’s attention
To start the real estate negotiation, use strong words that manage to focus the full attention of your interlocutor, always trying to emphasize the common goal.
Generates interest in the client/Interest
This step is one of the most complicated in any negotiation process. Once you’ve got attention, you need to turn it into interest. How? Allowing a pivotal factor to come into play: the client’s degree of commitment to your professional activity.
Turn interest into desire/desire.
While trying to generate interest in your client, it will automatically become a desire.
Encourage him to act/Action.
It only remains to close the sale. Your interlocutor is convinced that he will acquire the home you offer and is willing to finalize the purchase.
Finally, emphasize that exerting pressure is not advisable at any stage of the sales process; let the client follow their own pace.
Real estate sales strategies to connect with your clients
These are the real estate sales strategies that we have selected:
- How to recover a dissatisfied client of a real estate
- Seeing how some of our clients stop trusting us can be frustrating.
- Evaluating the possible failures that we have been able to commit and proposing solutions are the best ways to prevent them from happening again.
The reasons can be of various kinds, and we will not always be the cause of this situation.
The client has found the same service for less price.
Solution: Make sure that in your contacts with clients, you communicate your company’s benefits. This way, you will avoid hearing real estate phrases like “I didn’t know you could do that too.”
The customer feels that the quality has dropped.
Solution: Retain active customers with recurring discounts and promotions. They will feel that you are offering them a benefit for being a loyal customer.
You have had problems with customer service.
Solution: Train the real estate customer service team in support.
What can we do?
Incentives are the best way to settle differences and don’t have to be expensive. Surprisingly, 63% of those who left the brand would pay for a formal apology from a position of responsibility.
How to discover the problems of the clients of a real estate
We are in continuous contact with real estate marketing professionals who always recommend the same thing: “Agents should focus on solving customer problems. We must promote a vocation for service in companies, regardless of their size”.
This real estate strategy will create a climate of trust that will be key when the client has to make a final decision. That link will strengthen a relationship with the client that will last over time. And that means future sales.
They demand highly qualified personnel who perfectly understand their potential clients.
Real estate CRM, a solution to the problem
This technique requires very exhaustive monitoring by the real estate agent. With a real estate CRM (Customer Relationship Management), it is possible to establish real estate strategies for contact follow-up.
Philosophy of life for your company
As we mentioned at the beginning, this real estate strategy is more of life philosophy. It must permeate all company processes, from business contacts to real estate marketing efforts.
Real estate negotiation techniques
“The most important ingredient in the formula for success is knowing how to get along with others.” Theodor Roosevelt. And the Harvard Ury Method is an excellent real estate negotiation technique based on this principle.
Understanding a difficult person
When we classify a client as “difficult,” the real estate sales techniques usually do not obtain the expected results. These are people with marked egocentrism and a lack of self-confidence. It leads them to behaviors of the type “I’m in charge here” or “this is not for me.”
The attitude in the negotiation
William Ury, a social anthropologist and doctorate at Harvard, is known as “The King of Negotiation. “
The method enunciated by him is based on four principles:
- Separate the people from the problem.
- Focus on interests, not positions.
- Invent options for mutual benefit.
- Insists on using objective criteria.
Ultimately, it is about not giving up when a problematic person knocks on the door but about addressing your insecurities with a positive attitude that consistently highlights the parties’ benefits.
The most common mistakes of a real estate consultant
In this sector, only one thing is sure; it is time to renew frequently and not let it defeat us. For this reason, to finish this complete guide to real estate sales techniques, we want to put the accent on those obsolete tactics.
Relying too much on the sales presentation
It is straightforward to take the sale for granted simply because our presentation is impeccable and beautiful to the customer.
Talk too much (and not listen)
Essential. Knowing your client is necessary to offer him exactly what he is looking for.
Believing that you are capable of selling everything to anyone
It is not valid; no matter how specialist or excellent your real estate sales techniques are, you cannot always overcome certain pitfalls. Focus on knowing your customer’s needs well and satisfying them. Then it will come back!
Try to convince the client by changing their perspective
Do not try to “re-educate” him in his way of thinking, or he may feel manipulated. It is better to satisfy a need than to create a new one.
Forget that you also have to make decisions during the process
Always try to know when it is up to you to make a decision and apply it. Also, strive to give your best at every step, and the client will feel indebted.
Work for free to get the sale.
Do you have the certainty that by doing this, you will be able to close the deal? Everyone appreciates what costs money, and your work is well worth it.
Be your enemy
Neither should you believe you can do everything, nor put a few limits on your excellent work. Find the middle ground.
Pray that your client doesn’t notice that little mistake…
Be open and honest, but always try to have solutions ready when you talk about that problem in the house so that the client gets more information about how to solve it than about the fault itself.
And remember that continuous training of the agent is always necessary. It is not enough to know how to rent a flat; you have to receive the appropriate training to do it better than the competition.
How do you adapt old real estate sales techniques to online marketing?
It is curious that the word “real estate sales “contains certain negative connotations when our entire life revolves around them. Every day we sell our knowledge, our experience, our ideas, and even our image!
Selling is part of life. And many of the old-fashioned real estate sales techniques, aside from their more annoying aspects, contain valuable tricks for selling in the modern age.
Foot in the door technique
Also known as sequential selling, it originates in those door-to-door vendors offering products to homemakers in the 1960s. To prevent these housewives from closing the door in their faces, they placed their feet to avoid it.
However, the sequential selling technique is somewhat more complex and sophisticated. It consists of gaining consumer acceptance with small gestures (and sales) that open the way to a more significant commitment.
What application does this technique have in digital real estate marketing? Simply, ask your followers for something small to start with and then ask for more engagement.
You can start by asking your audience for their email address, to follow you on social networks, or to comment on an update.
Door slam technique
It sounds very similar to the first real estate sales techniques, but in reality, it is just the opposite.
Like all techniques, the technique of slamming the door in the face is based on the principles of social influence. As human beings are programmed to relate to others, there are a series of guidelines that we all follow that make us trust people.
It is the case of the principle of reciprocity. From a young age, we learn to treat others as they treat us, so when someone does us a favor, we are inclined to return it.
Numerous experiments in this direction show that it is an excellent technique.
You can apply it to the online environment in the following way:
- Ask visitors to subscribe to a premium product, immediately lower their expectations, and offer the same service for free for a month.
- Offer your mailing list to attend an exclusive seminar outside their area of influence (in another city or even abroad) to offer a free one-hour webinar immediately.
- If you have a landing page, ask your visitor for a high commitment and reduce it to less than half.
Could you give me a week’s technique?
It is one of the pillars of professional negotiation and is taught in every business school worldwide.
In a time-frame goal-oriented culture like ours, it’s easy to get commitments based on this technique from consumers. This technique is widely used in our sector, but remember that it requires great responsibility. If you do not get what you have promised, the blow for the client can be brutal.
You can apply the Give me a week technique in online real estate marketing in the following way:
- Rewrite your presentation on social networks to highlight the commitment you acquire with your clients.
- Use that commitment as a real estate slogan or claim and take the opportunity to renew the image of your real estate website.
- Create a real estate blog. Explain to customers how you will carry out this commitment in successive posts that will mark your identity as a brand.