It may not come as a shock that plenty of brokers nonetheless expertise an intense worry of rejection, which could cease them from prospecting and attracting new enterprise. However why is that? And the way can they study failure resilience?
The opposite day, one among my brokers, Will, got here to speak to me. He was extraordinarily annoyed along with his productiveness degree. He informed me he closed seven offers previously 12 months however knew he needed to increase his production if he wished to stay in the true property enterprise.
After speaking to him for a short time, I found he wasn’t centered on prospecting for new business. The truth is — he was not prospecting in any respect. Apparently, Will’s seven closings originated from his neighbors and shut associates at church.
I requested him what was stopping him from choosing up the telephone and making the mandatory calls to potential consumers and sellers. He admitted he was terrified of rejection and simply couldn’t face the truth that somebody would possibly say “no” to him. Will’s worry overwhelmed him to the purpose of paralysis.
Why do salespeople expertise worry? Some specialists level to the general public notion of a salesman. Many see salespeople as being pushy, impolite, intrusive, abrasive and synthetic. Others consider they’re obnoxious, conceited and dishonest, and that they solely give attention to no matter cash they will earn. As skilled actual property brokers, we work onerous to not be grouped in the identical class as a snake oil salesman.
Originating within the 1800s, snake oil salesmen had been disreputable individuals who tried to earn a living from unsuspecting prospects by promoting them pretend cures derived from concoctions just like Chinese language snake oil.
Actual property brokers are removed from these peddlers of the previous! We should see ourselves as professionals who help consumers and sellers with their most vital asset — their residence. Sadly, after we choose up the telephone or knock on a door, we regularly really feel the prospect will view us as simply one other charlatan making an attempt to hawk a magic potion. So, if you happen to’re an agent who’s battling the worry of rejection, listed below are a number of ideas for you.
1. Enhance your self-confidence
To achieve success in residential actual property gross sales, you need to consider in two issues — your self and the companies you’ll present a purchaser or vendor. I at all times inform brokers that you need to promote your self earlier than you may promote your shopper. Worry normally kicks in after we consider we’re going to fail even earlier than we begin. We received’t have the ability to get off floor zero with a prospect if we’re fearful and lack confidence.
Many individuals are predisposed to take a look at what can go improper as an alternative of what can go proper. If rejection is the very first thing you concentrate on when making a name, your angle will mirror it — and your angle is all the things.
Approach every call figuring out you’ve got what the prospect must promote or buy their residence. You possess the schooling, expertise and know-how to shepherd them via the transaction from beginning to end. You’ve efficiently finished it for others, and you are able to do it for them. It’s good to consider you are able to do it since you actually can.
2. Flip lemons into lemonade
One in all my early gross sales managers gave me a suggestion that’s helped me as much as at the present time. He informed me to ask myself, “What’s the worst factor that may occur when a prospect says ‘no’?” The reply is nothing. That’s proper — nothing! You’ll not be harmed when somebody says “no” to you. They don’t seem to be going to trace you down and make your life depressing. They are going to simply say “no.”
That doesn’t should be the top of the dialog with them, although. Strive to turn a “no” phone call from a “lemon” to “lemonade.” In different phrases, change the target of the decision from being unilateral — as in, centered on them — to a bilateral one the place they may have the option that will help you.
For instance, if they are saying “no” to you, take into account asking them in the event that they know of somebody who may use your companies. They could have a pal, neighbor or work colleague who’s contemplating promoting or shopping for a house. Clarify to them that the muse of your enterprise is built on referrals. You would possibly find yourself getting a referral from the one that simply stated “no” to you. Now, that’s an superior thought, isn’t it?
3. Settle for rejection as a traditional prospecting aspect
Not everybody you strategy about working with you as their agent goes to say “sure.” Greater than probably, they’ll say “no.” The truth is, statistics present nearly all of gross sales calls will finish in rejection.
Skilled salespeople are used to rejection. They know it’s a part of promoting and are ready for it when it occurs. In addition they don’t take rejection personally. Rejection as a press release on the agent as an individual seems to be one of many greatest prospecting points amongst brokers as we speak.
When an individual says “no,” it normally has nothing to do with the agent. It may very well be that the individual had a foul expertise with a earlier agent. It may very well be one thing else, like monetary points, unhealthy timing or just their temper or the way they feel that day.
Top producers accept “no” and transfer on to the following individual of their database or prospect group. They do not quit! It’s a part of doing enterprise.
4. Know your worth proposition, and hone your promoting talents
Engaged on these areas will make you a extra completed actual property gross sales skilled, which is able to enable you to overcome your worry of rejection.
Overcoming worry could be difficult. Understanding what you’re promoting and the way it can profit the prospect is vital to boosting your self-confidence and maintaining worry of rejection at bay.
Rejection, nonetheless, is inevitable. So long as you’re capable of settle for it as a daily a part of prospecting, you need to have the ability to transfer ahead and take those who say “sure” and switch them into shoppers for all times. And, who is aware of? The one who stated “no” would possibly say “sure” in some unspecified time in the future sooner or later!
John Giffen is Director of Dealer Operations for Benchmark Realty, LLC in Franklin, Tennessee. He’s the writer of “Do You Have a Minute? An Award-Winning Real Estate Managing Broker Reveals Keys for Industry Success.” and host of the Dealer Insights Podcast accessible on all main podcast platforms.