The Canadian Real Estate Association has more than 105,000 members, which makes it crucial for high-calibre professionals to distinguish themselves from mediocrity. The best strategy is to stop selling houses or condos immediately! Sound ludicrous? Not if you consider it does not refer to the act of selling, but rather the mindset involved. Many industry experts are recommending we shift our approach from “sales-oriented” to “consultative”.
In other words, stop selling and start helping.
Why is this mindset so important? The dynamics of our clients have changed and real estate professionals need to evolve or risk becoming average in a fiercely competitive industry. Consumers are more informed and have access to an abundance of info at their fingertips. They need a professional who can assess their needs, help interpret info, facilitate a smooth transaction and ensure they make the right decisions when dealing with their biggest asset. As such, the salesperson’s role needs to be that of a consultant or trusted advisor who helps navigate through every step of the process. There is no selling involved. If the focus remains on helping the client, the sale takes care of itself.
Once we understand why, then the question is how? We all know how off-putting a sales pitch can be. Let’s look at this from a consumer’s perspective. I recently visited a jewellery store to buy a ring. I was greeted by a saleslady asking if she could help me find something. I replied, “No thank you. Just browsing,” in an effort to avoid the agonizing spiel that tends to follow. She still went into a long pitch that was memorized and probably more painful for her to repeat all day, than it was for me to politely wait for her to finish so I could look at the merchandise. She then followed as I browsed and kept offering to show me rings.
When I finally wanted to see one, I quickly decided I didn’t like it. However, she kept showing me similar rings to keep me engaged with the hope she could persuade me to buy. A common yet fatal mistake! Instead of a sale, it resulted in my tactfully ending my awkward visit before looking at all the rings.
The salesperson meant well, but that whole interaction and her efforts to engage me were irrelevant to my needs and felt pressured and rather intrusive. Then I went to their competitor. The salesperson warmly welcomed me and told me to reach out if I needed anything while browsing. I looked at all the rings at my leisure. I saw one I liked. This salesperson probed, listened, answered questions, understood my concerns and then offered her expertise, along with a few solutions. I happily purchased a ring. This salesperson was very involved but not intrusive. She used a consultative approach and the sale simply took care of itself.
Now take the mall merchandise out of the equation and replace it with a home. Note the vocabulary with an emphasis on “home” and not “house” or “condo”. A home is where people invite friends, raise families and host a lifetime of memories. Start shifting your mindset by understanding the magnitude of the emotions that are intertwined with one’s home buying or selling needs. Then take this perspective and reflect on your latest interactions with clients at open houses, on showings or listing presentations to determine what you need to change.
Were your efforts to engage prospects relevant to their needs? Did you identify their concerns and offer the necessary expertise or solutions? Were you involved but not intrusive? Your approach throughout this entire process will mean the difference between closing the sale or helping your competitor to do so.
We know our industry is saturated with Realtors but almost half only do a few deals each year, if that. Why not use all that competition to your advantage to help you close more deals? To achieve this, simply stop selling and focus on helping families find a home. Only this mindset can ensure the sale takes care of itself. Ready to stop selling now?
Angela Papassotiriou has enjoyed a 30-year sales and marketing career while earning numerous industry leading achievements and awards. She has dedicated almost 15 years to working in a senior management capacity for some of the GTA’s most prominent new home developers and brokerages. Papassotiriou is currently a broker of record, using her wealth of expertise to support Realtors at eXp Realty in Ontario. She says she is dedicated to the highest professional standards and the ongoing pursuit of service excellence. Email angela.p@exprealty.net.
