Hi %FIELD:1% and welcome to your Weekly Sales Tip Monday March 12th 2007.
Skill before Strategy.
Mary and Hank had a real estate business with several sales people on the team and they were always looking for new ideas. They attended an off-shore seminar and were captured by the idea that if they changed to doing mainly auctions it would solve all their problems and business would boom., After a few months things had actually got worse. Sales were down, the team was frustrated, and “Auctions don’t work” was the cry. Alas, if they didn’t change something they would be reverting back to how they were in the past. Hank was referred to me by another client and asked me to visit and advise on what was wrong.
It was clear they had made two mistakes. 1. Their clearance of exclusive listings to sales was a low 51%. Clearly a skill issue here. Especially in today’s market. 2. They had tried to convert all listings to auction before proving to themselves it would work.
The lesson is: If your business isn’t going as you would like, changing strategy won’t work unless you fix the skill issues. Taking existing incompetence’s into a new strategy is a recipe for failure. In Hank and Mary’s case we have fixed the problem by making sure everyone was competent at; Marketing, handling the price question, collecting feedback, identifying and encouraging the right buyers, educating the vendors correctly, creating a crowd on the day, and working the bidders.
Now they have the skills its working a treat. If this had been done first, the process would have been fun from day one. They wouldn’t have lost some good sales people and lost market confidence. So, what strategy are you changing this year and what skill improvements are needed. Do the skills first!
Quote for the week:
“If you have a great ambition, take as big a step as possible in the direction of fulfilling it. The step may only be a tiny one, but trust that it may be the largest one possible for now” Mildred McAfee
Well %FIELD:1% have an awesome week....Have fun and make money
PS. My 3 day Real Estate Performance Academy courses for 2007, have started with Christchurch completed, Auckland this week and Rotorua next. Rotorua is fully booked and sorry we have no more places, unless you are already on a waiting confirmation call.
We will announce dates for our next courses soon along with a series of one day courses on Databasing with Outlook, Negotiating, Winning the Listing, Collecting Vendor Marketing Investments and Making sure Your Listing Sells.
Call Jacqui on 09 524 0302, 021 894 940 or firstname.lastname@example.org to indicate your interest and go on our First To Know list.