In recent months, we’ve seen a marked rise in the number of real estate companies taking the axe to their workers, firing off big and flashy programs, and reshuffling their management teams.
Real estate is a tough business. With so many players in the market, those who succeed are those who understand that it takes more than the highest commission to get ahead in real estate.
But as the real estate market continues to look uncertain, or even bleak in some places, Crystal White thinks that companies should absolutely not cut coaching from their budgets. Crystal White, director of agent development at @properties, noted that real estate professionals need to know their business as well as A-list actors know their lines.
For real estate agents, anxiety is a big problem. It prevents them from giving their best to clients, who deserve it. But coaches step in and teach agents how to always give their best. Crystal White argued that it’s more important than ever for agents to be confident and educated. And coaching helps industry professionals keep their focus on the consumer rather than their own nerves.
Here are a few notable points she mentioned while she was in an interview with Inman Connect:
- No room for failure. One thing she noticed is that real estate agents are hungry for direction and accountability. They’re looking for a good coaching program or a good coach because they’re looking to improve their business and succeed which is one of the main reasons they’re doing this is because they want to avoid failure.
- In times of economic hardship, while some are looking for ways to cut costs, it’s important to make sure agents have the support they need. Beefing up coaching and training programs as well as added new technology to help agents do their jobs more efficiently.
- Are your clients looking for market advice? Some of the key things that influence buyers are interest rates and the market’s health. Some people want to wait and see if the market drops, while others worry that they’ll be priced out of the market. Sellers often want to wait until spring, when prices tend to rise in anticipation of summer vacations. If their house is overpriced, they may ask their agents to remove it from the market until it can be appropriately listed.
- The importance of counseling agents. Agents should be encouraged to role-play within their own groups and with their teams. They should practice scripts and learn what to say if certain objections come up so it becomes authentic for them and how they respond.
When you respond to a customer with a prepared script and pre-set ideas of how to respond, how can you be authentic at that moment? Here’s how Crystal White used Sandra Bullock in her analogy:
“Here’s a great analogy that I love to explain to agents. I’m a big fan of Sandra Bullock as an actor. And so Sandra Bullock, when she gets a line and she’s going to do a movie, she has to practice and practice those lines. She practices them so much to the point that it becomes who she is in the moment. So when she goes on the screen, she really can encompass that person. And it feels authentic watching her.
Now, I’m not an actress. But in that same regard, if I’ve practiced the information and learned it and studied the concerns when I’m in the moment I don’t have to worry about thinking.”
The key takeaway? Practice, practice, practice. It’s never about how smooth an agent is on the phone, it’s about his/her ability to connect and really listen to what a customer is feeling. This ability will allow agents to know what the customer truly wants.
Stay tuned for more of our blog updates to help you make sense of what’s happening in the market and speak about the topics that matter most to you. #ForwardwithFairLead
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