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Thanks for your interest in my Mastering Expectation Setting in Real Estate presentation given at my Objection Handling & Sales Workshop in 2024. I focused my talk on setting expectations for real estate sales. I hope you get some great value out of it.
Below the video, we have a detailed summary for you as well. So don't worry about taking notes, we have you covered!
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Mastering Expectation Setting in Real Estate
Objection Handling & Sales Workshop
Click Below to Play the Video
Summary
In real estate decision-making, understanding the client's goals and timeline is crucial. Transparency and communication are key throughout the process, especially in negotiations. Setting clear expectations and boundaries is important, as is understanding the homeowner's perspective and addressing their concerns. Effective communication involves not just what is said but how it is received, and understanding the complete message is crucial. The challenges of communication and understanding between individuals are highlighted, with a focus on tailoring one's communication style to the customer's perspective.
Real estate appointments and decision-making processes
Steve: "If you can't give me a yes or no, I'll take it as a no."
Speaker: "I don't make decisions on the same day, I need time to consider."
Steve: "At least now we know where we stand, we can pivot accordingly."
Steve discusses common situations in real estate appointments, including dealing with spouses and siblings.
He sets expectations for the end of the appointment and the next steps to take.
Buying and selling houses, negotiations, and decision-making
Speaker discusses setting up a follow-up appointment to determine next steps with the client.
Steve emphasizes the importance of addressing client concerns and questions during the appointment.
Steve discusses the importance of understanding the homeowner's perspective in real estate deals.
Steve highlights the challenges of buying houses in a competitive market, emphasizing the need for confidence and a willingness to walk away from deals that don't make sense.
Real estate sales tactics and customer interactions
Steve explains that the brain processes 11 million bits of information per second, but conscious awareness is only 40 bits per second.
Communication is difficult because every person processes information differently, with four filters in the way of effective communication.
Steve emphasizes the importance of treating others how they want to be treated in sales.
Steve provides examples of how assuming and talking too much can lead to misunderstandings in sales interactions.
Effective communication in sales
Steve emphasizes the importance of getting a clear "yes" or "no" from potential clients during coaching sessions.
He encourages coaches to address counterfeit "yeses" and ensure clients are motivated to sell, as a "no" is just as valuable as a "yes."
Steve emphasizes the importance of understanding the nuances of language and how messages are received, citing his own experience with his wife.
Steve explains that people often use incomplete statements or use language differently than intended, and it's important to help them finish their thoughts or clarify their meaning.
Real estate sales tactics and customer interactions
Steve politely declines to provide valuation or renovation estimates.
Steve emphasizes the importance of assertiveness and empathy in sales.
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