07 Dec Don’t run out of fuel
A ‘generalist’ real estate agent will conduct vendor meetings and ask for price alignments on the basis of limited facts, which more often than not results in vendors becoming defensive and thinking you’re just in it for a commission.
Topic – How to increase sales + decrease DOM
Mentor – Jess Densley
- Build a platform of facts
- Meetings are not arguments – back and forth
- Make price alignments a key KPI
Kevin: A perfect way to round out our week with our guest Jess Densley from Discipline Group Australia is to talk about the fuel that helps you get to the final sale as you work through this process. That’s one of the things … this is only just a small part out of a 31 page E-Book from Jess, that’s available now as a free download. Tell me about the fuel, or the alignment as you call it in this stage of the sale Jess, good morning.
Jess: Yeah Kevin, thanks again. Inside this stage, and again I keep reinforcing this process and these strategies about combating this slower marketplace that we’re seeing in most parts of the country at the moment. For me, I talk about the … when I talk about the fuel to run your business. And Kevin, as you appreciate, if you’ve ever been on the side of the road and ran out of petrol, it’s a pretty frustrating experience. For me, our price alignments inside our business is the fuel that’s going to keep us going through this next four to five years or however long this cycle goes for. So if you haven’t got a process to get these price alignments in your business and in this next four to five years, you’re simply just not going to survive, it’s simple as that.
Kevin: Okay, so price alignments. You’re suggesting here, I think, that they actually be part of your KPI’s.
Jess: Absolutely, I think there’s two phases to that, Kevin. There’s the responsibility, and the role of the salesperson, and then the other side of that is the responsibility of the leader inside businesses moving forward, that we should be controlling that, we should be measuring that. You know, I believe it’s the number one KPI in the business in the next three to five years that we should be measuring each week in our businesses. That help the price alignments that we’re getting. Because clearly, when I have a conversation Kevin, with an agent who understands process, he’s talking about price alignments. When I have a conversation with an agent who doesn’t understand process he’s talking about sales. And they’re two different conversations. This process inside this third phase of this main event stage, we take people through that.
Kevin: How bad is it, or how good is it if we look at price reductions or price alignments, as you call them, as a stepped process? I mean, if you take a smaller than you would like alignment from a seller, and you’re still not able to deliver any results, it’s really going to water down your ability to get another price alignment further down the road.
Jess: Absolutely, yeah. Again, these strategies, Kevin, they tie in together and we talk about our activation meeting we had at the start of the campaign where we should be explaining to our clients the process of price alignments and the role they play. This alignment process has got a stage two to it, as you mentioned. It’s making sure that our clients are well aware that sometimes one price alignment may not be enough to get their property sold for the best result in this marketplace. So it’s about setting up … there’s four steps in what I call the four steps alignment process of how we can have a foundation and a platform, Kevin, to go back to our clients, maybe the week after, or the week after that, and have that same conversation again. Because I believe that agents will walk out of a price alignment conversation with a vendor, and they’ll close the door about having that conversation again into the future. So this process inside the E–book, it takes you through how to do that.
Kevin: Yeah, because I think it’s very important when you do get a price alignment, that you … not so much prepare them for a follow-up meeting, but say, “Right, now that we’ve got that, here’s what’s going to happen. We’ll take it to the market, we’ll get the feedback.” In other words, you’re always talking about the feedback you’re getting and pushing that through to the seller, Jess?
Jess: Absolutely, absolutely Kevin. I think one of the mistakes that a lot of people make, and I try and really get it through in this E-Book is that most vendors, when it’s not delivered to them correctly, will believe that when an agent’s having a conversation around a price alignment for their property that it’s just about them getting a sale and a commission. And I think when you deliver it in the professional manner that we talk about in this E-Book, that the vendor needs to be taken through the phase to understand that the price alignment is part of the process for them to get the best price in this marketplace. I think when you can deliver that effectively, and your vendors see that’s part of the process, ultimately you’re going to achieve better prices for your clients.
Kevin: Okay, this is a free E-Book that we’ve been telling you about all week, and if you haven’t got it by now, wow. I’ll tell you, you’re missing out on a … this is full of gold. This is a great book. It’s totally free, comes to you exclusively through RE Uncut. And it’s been provided by Jess Densley from Discipline Group. Jess, it’s been great talking to you. I want to follow-up in the next couple of weeks to see how it’s going. We no doubt will get feedback from our audience as well. So let me know what you think, and certainly let Jess know directly if you like as well.
Kevin: Jess, thank you so much for making this available and for spending this time with us this week, it’s been great.
Jess: Yeah, thanks Kevin, really appreciated your time again, and thanks for having me back.