Viewing by month: August 2013

The nuts and bolts of negotiation

For most real estate agents, negotiation skills are essential building blocks to a successful career. Whether you’re debating service fees with a client or bedding down a sale price with a buyer, you’ll need to have your negotiation tactics well-honed to maximise your results. To this end, we have outlined three pointers for improving your negotiation skills below. 

1. Do your homework: before commencing any negotiations, it’s always best to do some background research on the parties you are negotiating with, and the subject you are negotiating about. Doing so will give you the knowledge needed to make informed and strategic decisions during the negotiation process – which will, in turn, increase your chances of coming up trumps;

2. Break a stalemate: an effective way to break a stalemate is often to offer the other party something of relatively low value to you, but of higher value to them. For example, you might offer to upgrade a seller’s advertising for free in order to secure a higher commission;

3. Closing: It is not uncommon for people to get highly emotional and lose focus during negotiation processes. When a party acts this way, there is a possibility that further negotiations could impede a positive outcome. As such, it is important to know when a negotiation process is becoming counterproductive, and to be able to walk away accordingly. 

Regardless of whether you’ve been selling real estate for 20 years or one week, brushing up your negotiating skills could help you to become a better agent – so try these tips out and see if they make a difference to your results.

0 comments | Posted by Reality Bytes - Real Estate Training Blog on 30/08/2013 at 12:00 AM | Categories:

The power of presentation


A recent survey by online magazine, Lifehacker, found that 84 per cent of respondents were afraid of public speaking. Unfortunately, public speaking is an unavoidable aspect of professional life for many people – especially real estate agents.


Whether you’re conducting an open home, pitching to prospective clients or presenting a speech at an event, public speaking will likely play an important role in fostering your success. In light of this, we have prepared three simple tips for real estate agents to better their public speaking skills: 


1. Know your topic: while it may not always to be possible to speak on a topic that you’re completely knowledgeable about, it’s always important to equip yourself with key information related to your topic. With the internet at your disposal, relevant information is usually not too far away, so make sure that you leave yourself enough time to do adequate background research prior to presenting;


2. Plan your delivery: some public speakers will choose to read a script when presenting, while others might prefer bullet points or palm cards. If possible, it is best to memorise what you are going to say in advance so that you don’t have to refer to notes at all. Doing so will help you to fully engage with your audience and better position you as a credible source on the topic;


3. Know your audience: different presentations and speaking styles are appropriate for different audiences. For example, while a technical, fast paced presentation style may be appropriate for a room full of experienced investors, a slower, more simplistic delivery might be suited to a first-home buyer. As such, it is important to think about your audience in advance and to cater your language and information to their particular interests and proficiency levels.


Try using these tips when you’re next presenting and remember – practice makes perfect.

0 comments | Posted by Reality Bytes - Real Estate Training Blog on 22/08/2013 at 12:00 AM | Categories:

The value of client testimonials

Recent survey results from Real Estate Business Online suggest that client testimonials are still a valued marketing tool within the real estate industry.

The website conducted a straw poll over July 2013 (click here) which found that 73.5 per cent of respondents believed that testimonials are an important form of marketing. 

While these results are not necessarily surprising, they highlight that for many agents client testimonials are still an important tool for building credibility and attracting new business. 

In light of this, we have prepared three simple tips for getting the most out of client testimonials:

1. Choose appropriate clients: you should aim to make your testimonials appeal to the widest possible cross-section of the market – from first homebuyers to experienced property investors. To this end, you may want to consider breaking down your client list and approaching contacts from various demographics and age groups. Doing so may increase your chances of capturing different perspectives in your testimonials, which may in turn, expand the impact and reach of this strategy;

2. Harness LinkedIn: LinkedIn allows contacts in your professional network to provide publicly viewable testimonials. These types of testimonials can potentially be very valuable as prospective clients often view Linkedin profiles before directly contacting service providers. You may also want to consider connecting with some of your clients on Linkedin and asking them to post a post a testimonial on your profile. All you need in order to find a client on Linkedin (if they have a profile) is their email address;  

3. Avoid polishing testimonials: the persuasiveness of a testimonial often relies on it appearing objective. As such, it is best to preserve a client’s own words in a testimonial; readers can often tell the difference between an authentic testimonial and one that has been extensively re-written. 

Try using these tips next time you’re sourcing client testimonials and you may be surprised at the results.

0 comments | Posted by Reality Bytes - Real Estate Training Blog on 12/08/2013 at 12:00 AM | Categories:

Improving your career prospects

The work that you do as an agent today could potentially have a significant impact on your career development in the future. As such, it is important to not only maximise your skills and performance in the present, but to also put steps in place to improve your career prospects in the long run. To this end, here are four tips for gaining career momentum: 

1. Don’t wait to be the best: try not to let your aspirations get in the way of you performing your current job properly. Why? Because delivering strong results in the present will likely boost your professional reputation and increase your chances for career advancement. Keep your eye on the prize, but don’t lose sight of how to get it;  

2. Open yourself up to opportunity: in business, you never know what opportunities are going to present themselves, so keep your eyes peeled and be prepared to act if the right chance arises. For example, you might be asked to take care of a superior’s “small” tasks such as coordinating a meeting or following up a phone call. Though, at the time, you might perceive these tasks to be quite menial, they may ultimately lead to new and unexpected  connections, insights and opportunities;

3. Identify the “white space”: the “white space” is a management concept used to consider problems that other people aren’t willing to tackle or don’t know exist. Identifying a solution to a “white space” problem may help to raise your standing as a proactive problem solver and differentiate you from others that simply pass tasks on;

4. Seek out a mentor: many successful business people have a key thing in common – they have learnt from a mentor. A mentor will typically be someone in a similar field that has more experience than you.  A good mentor will provide encouragement, advice and, most importantly, constructive criticism on how to better yourself. If you’re having trouble finding a mentor, you may want to talk to someone senior within you agency as they may be able to help pinpoint someone suitable for you. 

0 comments | Posted by Reality Bytes - Real Estate Training Blog on 06/08/2013 at 12:00 AM | Categories: