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The 7 biggest mistakes made in real estate sales and what to do to avoid them

The 7 biggest mistakes made in real estate sales and what to do to avoid them

Much has been said about the low performance of real estate agents and the various mistakes they make in the process of selling property. But have you, manager, already mapped out what are the biggest mistakes to be able to correct them?

Here we present a list with seven of the main failures of teams during the sale of properties and we give some tips for you to change this game. Then just get your hands dirty and keep the team sharp to sell a lot more.

The 7 biggest mistakes made in real estate sales

Maiores erros cometidos na venda de imóvel - e o que fazer para evitá-los

1. Not knowing the product you are selling.

This is one of the biggest mistakes. Nowadays people are increasingly well informed. With ample access to the internet, customers often arrive at the sales stand with more data about the product than the broker himself.

And it is no use just providing basic material about the properties and asking the brokers to study. With the hustle and bustle of everyday life, they often do not have much time or to set aside time to read everything - from the descriptive memorial of an enterprise to the price list of the units.

Investing in new and more interesting ways of delivering that knowledge to the broker can greatly increase lead evasion from your base.

2. Lack of follow up

The broker, in general, is not used to maintaining a portfolio of clients or nurturing a lasting relationship with the consumers he has already conquered. Specially because, apart from investors and people from the upper classes, the largest part of clients only buys real estate once or twice in their lives.

This absence of relationship with clients also occurs due to an anxiety and immediacy of brokers, which leads him to permanently abandon clients who are in an initial phase of analyzing the available offers and who do not intend to buy property so quickly. This leads customer evasion.

CRM systems help a lot with alerts, but often brokers don't register lead and this can hinder the sale of property.

To mitigate this, it is important not only to make the broker aware of this situation, but also to have follow up control tools in measuring time and quality and to set goals for the team in this regard.

3. High turn-over of brokers

A high turnover among brokers can be a major problem for a real estate agents or developers. That's because it takes a while for the broker to pick up the pace of the company, adapt to its culture, understand the processes and get to know the properties well. With this, it is as if it were reset so the process needs to start all over again. This results in waste of time and investment.

Para ter menor turnoverIn order to have a lower turnover, the manager must offer a good working environment, a career plan, incentive programs, fair commissions and a responsible, ethical and committed company culture. Sales team leaders must be open, flexible and with an assertive and close management. That way, brokers will feel good about it and have more commitment to the company.

4. Not knowing - and not listening - to the customer

One of the biggest mistakes on sales negotiation is not knowing and not really wanting to help the client

make the best purchase. That broker who is a pusher, who tries to sell anything and doesn't deeply know customer preferences is the first to be discarded.

Imagine this scene: the broker receives a call and the customer asks about a property. Then the broker says that the apartment has 100 m², three bedrooms and a parking space. So the customer thanks and hangs up, because he really wanted the property to have two parking spaces. But the broker didn't even have a chance to offer another option because he didn't even know about it.

Or a broker who offers two bedroom apartments for a large family. Or even those who offer real estate with playground and children's pool when the couple has no children. It makes no sense, right?

Having a good initial interview with potential buyers is essential. There are some magic questions… Are you married or have children (or who else will live with you)? Where do you work (which region of the city)? Which regions does he prefer (and why does he choose these regions)? Why are you buying the property (what is your special need)? When do you want to move? How much do you want to pay?

These are some basic questions to find out preferences, wants and needs. And it is important to find out which of these items are not negotiable. Many times the customer wants a number of things in a property that is in a prime area but does not want to pay what it is worth. In this case, the broker needs to find out which item the customer agrees to refrain from in order have better options.

5. Not knowing about fees and financing

More than 70% of real estate is purchased through through financingTherefore, knowing how to answer the client's main questions during the real estate search process is essential. Otherwise, he may seek out a broker who knows more and can explain it better.

Also, if the broker simply passes the customer to the contract department something said at this stage can discourage him and be a deal breaker.

Teaching brokers about contracts, financing, fees to pay and regularization is very important. They don't need to know absolutely everything about it, but at least the most important and sought after information needs to be on the tip of their tongue.

6. Not knowing how to negotiate

This is one of the most common flaws in broker skills. And that's why many companies hire a professional negotiator or manager on deal closure. Training brokers in on this skill, however basic, can prevent many problems.

There are some basic trading techniques that brokers must learn so that they can lead the negotiation to a win-win leaving the buyer satisfied.

7. Not training brokers

It is wrong to think that all the problems related to stagnant sales and low conversion rates are only brokers’ fault. Training can help your team perform better and sell more.

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While many brokers think they already know a lot, trainings and tests can show there is still room for improvement. All of the above skills can be taught boosting team productivity.

Product information, sales techniques, negotiation, customer service, focus, financing and many other topics can be covered in training and quickly and reinforced a day to day basis. This is one of the most effective and fastest ways to see results in team performance.  

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