The recent boom in the market has been a blessing and a curse.
Buyer demand was literally “off the charts” and it was fairly easy to meet vendor expectations for pricing.
The relationship between vendor and agent was good and stress free.
Fast-forward to the fundamental changes that happened this year, and the agent-vendor relationship is being put to the test.
There are fears, regrets and condemnation. Disappointment, frustration, and sometimes anger.
Where did it leave you as an agent?
How do you adapt and change your approach so that you can process these feelings so they don’t become personal and collateral damage?
The best agents in the business have a certain amount of pragmatism and aloofness when it comes to the sales process.
It’s not that they don’t care. It’s about not letting customer sentiment (positive or negative) get in the way of the execution of the sales process.
They have mastered one of the key sales skills of emotional detachment.
Here are three strategies for mastering it.
Stop trying to protect your vendor’s feelings
Upset, stressed, and worried vendors can be difficult to experience, especially if they’re kind people and trust you.
This can lead to the trap of wanting to protect them from the reality of the situation.
To truly serve and protect our clients, we must communicate fairly.
What if emergency physicians were emotionally involved with every patient in pain?
Without emotional detachment, wrong decisions can be made and important actions not taken.
My mentor once told me, “The sooner they scream, the sooner they sell.” This was a powerful lesson to learn.
By protecting them from bad news, I was hurting them in the long run.
Only when acceptance is made will action and progress take place.
Usage flow
The beauty of the process is that it provides a logical framework that you can rely on.
If the process is thorough and meticulous, the conversation will be more about benchmarks and milestones than opinions and emotions.
You are Must Educate vendors on each stage of the campaign ahead of what may happen.
Explain how strength should be built and what metrics should be checked.
The most important part of the sales process is the scheduled sales meeting, which must take place well before the inspection takes place.
Focus on explaining to them how the campaign should unfold each week.
We advise you to measure your key metrics against key benchmarks weekly to quickly correct your course and stay on track.
It’s all about expectations, but how can they know what to expect if we’re not prepared?
Clarify where responsibility lies
As an agent, your responsibility is to execute meticulous and thoughtful marketing campaigns, excel at the work of buyers, and bring objectivity into the equation.
If the market is reacting poorly and your benchmarks indicate that your campaign is not on track, you should notify your clients of this, even early in the first week.
Be clear about your approach. I will first summarize the current situation, describe the challenges it poses, and then present three options to choose from.
Giving them options shifts the burden of responsibility from you to them.
Never lose sight of the fact that it was the client’s decision that got them here, and they always have choices. You are their guide and market translator.
Having the ability to detach from emotions makes it easier to control any market situation.
