|How to Determine Your Ideal Client & Close More Deals!|
How to Determine Your Ideal Client & Close More Deals!!
Determining your ideal client will vastly improve your sales results in your real estate business! How would it effect your business if you only worked with customers and clients who looked to you as an authority, trusted your professional opinion, followed your guidance and told everyone they knew to use you and only you for all of their real estate needs?
If this sounds like the ideal real estate practice, remember it’s yours for the taking! Simply craft the image of this “ideal client” and then design your business around that model. So where do you begin?
A good starting point is to begin listing qualities you do NOT want in a business client:
Now you can get a clearer portrait of your ideal client:
Getting the idea? What you focus on expands! With this seller, with this buyer, with these affiliated business partners, with this Broker, are you beginning to envision a career that adds more joy, time and income to your life!
Now, how do you find these ideal clients? You must be willing to give your best service to those that meet your qualifications. It all begins with your value that you bring to the sale situation and why someone would buy from you versus any other agent. (Are you clear on that yourself?) Next, you must discover their criteria; determine exactly what it is that they are looking for in a real estate transaction and what they are looking for in an agent. You can easily discover this through the power of questions. Ask them what buying or selling that house means to them and how it will effect their life. Dig deep!
Continue this process by delineating expectations. Articulate to your clients what you expect of them and what they may expect of you in return. If a potential customer will not agree to your business standards or is not able to, then simply thank them for their time and refer them to another agent with whom they will be more comfortable.
Convey your standards of service and the description of your ideal client in all of your marketing, networking and prospecting you do for business. For example, you can ask your sphere of influence, “Who do you know that has equity in their home and wants to buy in this market of high selection, fantastic terms and low interest rates?” Decide how YOU want to run your business? Do you work with anyone or only buyers & sellers in a certain price range (same work but more pay… sounds like a plan!) Or do you choose to work in a high volume price range (less commission per transaction but more transactions… sounds like another plan!) Regarding professional service-providers, people tend to respect high standards and professional boundaries!
The sellers, buyers and investors with whom you do choose to work, will be happily satisfied and will tell the people they know (whom, by the way, are probably similar to them and will appreciate the way you work as well!)
Another idea is to determine an area’s market velocity and prospect for listings in a subdivsion or area with a fast sales rate. Sure there are many expireds or “For Sale By Owners” in other areas, but if there are 24 months of inventory there and only 9 months of inventory in another neighborhood, perhaps your “ideal client” is an area rather than a person? Hmmm? Now there’s an idea! (wink wink!)
When the average days on market is 180 or 240 days and you continually sell listings in 30 or 60 days (due to your “ideal area” or “ideal price range” or “ideally motived seller”) do you think you will naturally attract more business? Would that be a statistic you should highlight in your marketing materials? Use the market trends to determine how to work an area in your favor as well as to the benefit of your clients!
August 17, 2012