Jun 25 2013
Leverage Points to Increase Real Estate Sales

5 Key Leverage Points to Increase Real Estate Sales

As a real estate professional, finding key leverage points within your business is important to effecting positive change. As the industry continues to evolve, so must our skills and sales strategy.

Identifying and capitalizing on those areas where a small tweak or addition to strategy can make a big difference will accelerate and support sustainable growth.

Below are five key leverage points to increase real estate sales and ultimately business growth!

  1. Utilize a buyer consultation

Today’s buyer has access to just as much, if not more information than we have.  Our role has changed and we must now have relevant information not only at our fingertips, but available to share at a moment’s notice.

The first step to maintaining control over the transaction is to explain the entire buying process from start to finish and how you are going to work with them.  What value do you provide and how will a buyer benefit from working with you? Adjust your buyer consultation to leverage an opportunity to build trust and set the tone of the relationship from the beginning.

  2. Be at everything

Home inspection, appraisal with comps, closing, these are all events you must attend.  Any time there is an activity revolving around the transaction, you want to be a part of it.

If something goes wrong and the deal dies, the clients will blame you for not giving 100%.  Don’t let that happen and especially not at the closing.  I see too many agents allow the client to go to closing alone.  This is a huge mistake and definitely a leverage point.

Closing is the defining moment when your clients get the keys to their home.  To secure a long lasting relationship and to show that you care about the clients as much as you do getting paid, you should be there.  It is also a great time to get the clients to provide a video testimonial about working with you since they are on the “just purchased high”.

  3. “This is it!”

That moment when you open the door to show a home and know instantly that this is the house for your buyers.  Then you turn and your clients have that same look on their face.  That is the “This is it” moment. 

Chances are that if they love it, so will others.  Make sure they know that and the possibility for multiple offers.  This is an opportunity to leverage your knowledge of the market and swift negotiation skills.

Remember: If you miss out on getting them the “this is it” home, you will have a long road ahead of you to make that magic happen again.

  4. Get your clients some Tic Tacs

Buyer’s remorse is a problem and it kills deals. The buyers listened to you and paid over asking price to get the home in a multiple offer situation. They are excited and thrilled. Then it settles in.

They wake up in a cold sweat in the middle of the night worried about everything…the mortgage payment, “did we over pay”, taxes, “are we sure we are ready to own a home.” This is where your buyer remorse pills come into play (Tic Tacs).

Leverage the value of humor and let them know ahead of time that they are going to go through this series of emotions and how natural it truly is. I liken it to the pre-wedding jitters.  Give your clients the Tic Tacs and tell them that they are buyer remorse pills and when they are getting those jitters, to take one of the pills. It’s a creative way to overcome a very real problem.

  5. The power of video

This is the most under-utilized tool when it comes to working with buyers.  Imagine a multiple offer situation and your buyers want the house.  The problem is that they are maxed out at the asking price.  How do you tip the scale?  Leverage the power of video!

Take a short video of your clients explaining why they love the house.  Show the kids playing in the background.  Video the kids picking out which room would be theirs.  Use this video while presenting the offer in person.  If you cannot present the offer in person, ask if the sellers are available to Skype or email the video as part of the contract.

Do not underestimate the power of emotions and the ability video has to make an emotional connection when showcasing your buyers offer.

What leverage points can you build upon in your business?

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Karlton Utter is the Director of Learning Technologies and Solutions at Better Homes and Gardens Real Estate.

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Comments

  1. Love most of these ideas. I think the Tic Tac idea while cute and some would understand and find humorous, I think it would insult many people and seem like I as a Realtor have assumed and grouped their possible feelings with everyone elses lessening it to candy.

    I think each buyer is unique and may have a different idea, question or concern regarding any type of buyer’s remorse. I couldn’t imagine nipping it in the bud before it even happens with Tic Tacs, lol. Now on some? Yes, I think it would be okay… but to do this with everyone in my opinion is disastrous, “salesy” and cold.

    Love, love, love the idea of the initial consult. You’re right it’s so very necessary today to show the value of not only our services but agency and how it all works. I get more and more buyers come to me and they’ve already contacted several listing agents about properties and multiple buyer agents. There’s no education for them out there for that, but there’s TONS of homes to see online! =/

  2. Interesting advise and great tips for better chance of success. Great post!

  3. Gail Spinn says:

    Great tips and I would also add that most buyers do not make large purchases like a home often unless they are investors. During the initial consult it helps to explain how the brokerage process works. We have forms that tell buyers and sellers that, but it is even better when you can just sit down and talk with your soon to be clients and tell them what you do and what to expect when they are involved in a transaction. Great stuff! Kudos to Karlton.

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