FUNDAMENTAL DISCUSSION TOPICS UNPACKING RESPONSIBILITIES OF ESTATE AGENTS
By HILTON GREEFF
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Also by HILTON GREEFF
Books. “Activities Blueprint” for Realtors Doors to Referrals. Motivational Talks. “You ain’t nothing but a Hound Dog” Were those motivational Gurus talking to You? The Profile of a Winner. Discussion Workshops. Activities Management Plan. Procrastination, the Thief of time More than 50 ways to generate leads. Price Counselling Sellers.
ISBN 978-1-928245-28-5
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TABLE OF CONTENTS Table of Content.
……………………………………………………………………………
3
Preface
…………………………………………………………………………..
5
Introduction
…………………………………………………………………………….
6
Typical Topics for Discussion ……………………………………………………………..
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PHASE 1. Budgeting
Breaking Ground. ………………………………………………………………………………
10
Motor Vehicle ……………………………………………………………………………….
12
Improve your Knowledge and skills ………………………………………………….
14
Prospecting
17
………………………………………………………………………………..
The Sales Meeting …………………………………………………………………………..
25
Cruise your farming area ………………………………………………………………...
29
Personal Portfolio ………………………………………………………………………….
31
PHASE 2.
Planting Seeds
Marketing ……………………………………………………………………………………
35
Marketing in Real Estate …………………………………………………………………..
45
Target Market
…………………………………………………………………
51
Sphere of Influence
…………………………………………………………………..
56
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Advertising
………………………………………………………………….
62
Checking Existing Stock ………………………………………………………………......
68
Valuations
………………………………………………………………….
71
Office duty
………………………………………………………………...
74
Boards
………………………………………………………………….
77
Referrals
………………………………………………………………….
78
PHASE 3.
Harvesting Rewards
Listing Property
………………………………………………………………..
93
Signing Sole Mandates …………………………………………………………………..
102
Contact with existing Sellers ………………………………………………………….
105
Contact with Potential Buyers ………………………………………………………..
110
Taking Buyers to view Property ……………………………………………………..
113
Holding a Show House
………………………………………………………………..
117
Accepting an Offer to Purchase …………………………………………………….
121
Presenting an Offer to Purchase.
125
………………………………………………
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PREFACE. The idea for these manuals, highlighting numerous basic discussion topics, which embrace the daily routine activities of Real Estate Agents, came to mind after calls from agents around the country, for the author’s personal appearance to talk on the practical application of information revealed in recently published books namely “Activities Blueprint” for Realtors and “Doors to Referrals”. Although willing to oblige, the costs of seminars in the many centres and outlying areas far outweighs the financial feasibility of such an exercise. The next best thing therefore is to bring the benefits of seminars into the confines of every Real Estate office throughout the Republic of South Africa. The manuals are uncomplicated so that Principals, Sales Managers and senior members of a sales team can facilitate any of the discussions. Topics for discussion are clearly identified, can be chosen at random, and are pertinent to the daily routine of every estate agent. These manuals provide the facilitator with topical subjects, relevant questions, and enough prompts to allow him or her to comprehensively cover the selected subject in its entirety or simply one question at a time. The outcome of these mini seminars, with the encouragement of full audience participation, will promote the sharing of skills and knowledge by all present, whether they are facilitators, new to the profession, or have enjoyed many years in the field of real estate. To reduce costs even further the Agency’s office can be used as the venue, as the need to have overhead projectors and screens has been completely eliminated.
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INTRODUCTION
No matter how large or small your real estate agency, if you have agents working under your banner, you need to have a sales meeting at least once a week.
Agencies that do not will certainly get along for a while, but they will definitely not get ahead.
This meeting is the feedback session, the information sharing session, the gripe session and should also be a fifteen minute training session.
These sessions are amongst the most disliked activity in real estate and many agents, as well as some principals, often feel that they are merely a time consuming exercise, which is far from the truth.
In many cases agents and principals have become so accustomed to having weekly meetings that they continue with them in a habitual manner and sometimes with very thought or planning.
The sales meeting is the perfect situation to include a time slot that covers training or tips on how to successfully handle certain situations.
It is accepted that both the Principal and Sales Manager are knowledgeable enough to facilitate any discussion session on real estate matters but if neither of them, or one of the agents is able to do a presentation, then guests from any of the Professions or Industries allied to real estate, should be invited to speak.
A reason to introduce short “Training sessions” at the weekly sales meetings is because that is when the minds of the sales team is generally tuned into the tasks at hand and their whole world is revolving around ideas of how to
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produce successful sales out of the prospects that they are working with at that moment.
In the world of sales, particularly one that only rewards you financially when you have been successful, maintaining fitness of the mind with regular updating is paramount.
It has been said that the retention of knowledge and honing of skills can be equated to a daily or weekly exercise routine.
It has also been stated that no one has sufficient knowledge to succeed without the help of others which is a sound reason for even the most experienced agents to regularly interact with their colleagues, share information so that everyone feeds off the knowledge and experience of each other.
It is a further known fact that non participation in any activity leads to a lack of attention which is why these “Training Sessions” should not be held as a lecture but rather take on the form of a discussion workshop with the thoughts and ideas of everyone present, being brought to the table.
Certainly many “Old Hands” will feel that the information imparted and shared is already known to them and could resist inclusion to such a meeting because they feel it is “too basic” and only for the new agents.
Familiarity has a habit of breeding contempt but over the years bitter lessons have taught sales people that complacency leads to the taking of short cuts which leads to the creation of unacceptable habits which results in poor service delivery, reflecting as incompetence in the eyes of the consumer.
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TYPICAL TOPICS FOR DISCUSSION
There is a wide range of topics with some of them being able to be split into many more interesting discussion items.
Among these the following will
make interesting interaction;
Prospecting.
Marketing.
Advertising.
Finding sellers.
Finding Buyers.
Building a Sphere of Influence.
Referrals.
Farming areas.
Agency protocol / policies / practices.
NB. Questions covering a topic, and prompts provided for in-depth discussion, are for the facilitator’s guidance and can be directed at the audience in whatever pattern and style facilitators wish to use.
The Topics that are covered in this manual are not listed in number order so there is no need for a facilitator to follow any sequence. Start with which ever topic is suitable for the situation.
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PHASE 1 BREAKING GROUND.
TOPICS FOR DISCUSSION.
Budgeting Motor vehicle Improve Knowledge and skills Prospecting The Sales meeting Cruise your Farming Area Personal Portfolio
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BUDGETING INTRODUCTION.
Although this activity can neither be described as income producing or support, agents cannot afford to ignore it.
It is the lifeline allowing you to continue working without the stress of worrying about cash in your bank is or the support of your family.
Beginners-Luck often aids new agents with a quick sale. This is the exception rather than the rule.
You should not expect your first sale too soon. It usually happens within the second or third month or even longer.
You need to have sufficient funds to carry you and your family, without concern or stress for at least 7 months.
You need to constantly adjust and amend your budget to keep in touch with your cash flow.
After you have negotiated a sale with no complications, you can expect to wait a further 90 to 120 days before funds are released to you.
Attend to finances thoroughly before entering the Industry and regularly, discuss with Bank manager and review situation regularly.
Do not take overdraft facilities until you know exactly how successful you are going to be.
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