Selling well in this recessionArticle added by Jacques Werth on December 15, 2008
Jacques Werth

Jacques Werth

Media, PA

Joined: November 27, 2006

Think financial services are down? How would you like to be in real estate right now?

Recently a Realtor told me that he did very well last year and is doing even better this year. He explained it this way: "Home sales are off by over 20 percent due to the recession, and close to 60 percent of the real estate agents in this area have become inactive; they think the real estate market is dead. My sales process is so strong that all I had to do is increase my prospecting activities and change the focus of my marketing. Combined with such weak competition, it's pretty easy to sell more than I did last year."

What did he mean by a "strong" sales process?
  • Focus on your one best target market.

  • Know which products and services people in that market are buying now. It will probably be different from last year.

  • Be able to articulate the features, benefits and detriments of those products in brief, clear and simple language.

  • Contact a large number of prospects in your target market.

  • Prospect for at least eighteen hours a week.

  • Only make appointments with prospects who want what you have to offer right now.

  • Determine whether you trust and respect each prospect. If not, go away.

  • Quickly determine the exact buying intentions of your prospects.

  • Get mutual commitments throughout the entire sales process and close without pressure or discomfort.
How well did you sell when we had a booming economy during the 18 months ending in July 2008? If it went extremely well, it shouldn't take much of an adjustment to do it again next year. If you did quite well, but not great, it may be difficult in 2009 without making some changes in how you sell.

What kind of changes?

Simplify your sales process and stay with the fundamentals listed above. You should be able to thrive, not just survive, in this recession.

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