There are varying degrees of success when it comes to selling real estate. Some earn a marginal profit from the sale of their property while others seem to consistently sell well above the property’s reserve price. This is above and beyond the steps I wrote for a homeowner, to increase their sell price.
There are several successful real estate agents like James Tostevin, Marcus Chiminello and Alexander Phillips who have figured out a working process that allows them to be successful in real estate. Below are a few ways the top real estate guns have accelerated their property selling success and how you as the property vendor can emulate similar success when selling your own property.
Build your personal brand as a property seller
You must come across as a property salesperson that people will want to do business with. Just like as a real estate agent’s reputation is their most prized asset, the reputation that you hold will attract potential buyers to the property that you have on offer.
Take a look at websites like LocalAgentFinder to compare the qualities that make certain real estate agents stand out from the rest. The more you can emulate those successful agents, the more attractive you should be towards prospective sellers.
Find and use a mentor
Property sales agent Michael Clarke attributes a part of his success to mentoring with successful property sales gurus early in his career. He found that while most of these mentors were willing to share their information, gaining access to them required persistence.
Once he was able to gain a mentor, they would rehearse sales scripts and techniques that would help him attract more buyers, listings and sales. As a property vendor, you can find the top local agents and see (or even ask them) about the techniques they use to successfully sell their property listings above the reserve price.
Dedicate your time to building your prospect database
The top real estate sales people prospect religiously. Sourcing qualified prospects from buyers and sellers lists or even by attending or hosting open house inspections. The long term goal for an agent is to build an attraction business model where people are calling in specifically to hire your services.
As a property seller, it is up to you to trigger interest in your property by building a prospect database that will allow you to have buyers that are ready to increase the bidding price on your property.
Learn how to manage your time effectively
Real estate is one of those industries where you can be busy the entire day and still be unproductive. To be successful in real estate, the agent must learn how to prioritise tasks that will build the dollar value of the business. Real estate agents must focus on getting qualified appointments in their diary with people that can give their business to them.
Real estate sales guru Bob Bohlen is renown as the most productive sales agent of all time. In 2010, he sold 12 commercial properties which grossed $151 million in sales. You can hear about his productivity behaviour in this interview where he earned over $600,000 in commission sales while only working 8 hour a week.
You can view this video from Dr Fred Grosse where he details how to ideally structure and plan your days.
Learn how to demonstrate value
Every real estate agent must remember that the value of the agent isn’t in just selling the property, the value is maximising the sales price. Anybody can sell a property just by reducing the price. Property vendors must pitch the benefits of the property that will resonate with prospective buyers. (E.g. Amazing views, large space for families)
There are varying degrees of success when it comes to real estate sales, however, you can transition to a top-tier performance agent by following the tips that have been provided. Seize the day and improve your traits to successfully sell your property.