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    Randy Roussie

Training Article - How To Get Out Of A Sales Slump!

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Real Estate Training Article, How To Get Out Of A Sales Slump  
 

Training Article - How To Get Out Of A Sales Slump!

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Every Realtor finds themselves in a 'sales slump' from time to time. So being in a slump should not alarm you. Rather you should ask yourself what you must do to get out of the slump.

As with any business, the occasional decline in sales is a normal thing, it's just a part of "being a business. That being said, there are things you can do to "ease the pain" and get your business back on track.

1. Focus On Prospecting Action - Not Administrative Work!

Action is required to exit a slump. Usually what happens is that we tend to focus on administrative work when in a slump. All that does is to keep us in the slump for a longer period of time.

2. Think Quick Listing - FSBOs (For Sale By Owners)

When I was in a slump as a Realtor, I immediately turned my focus to FSBOs. Here's what I did and why I did it.

I would go to the FSBO and offer my listing services to the FSBO at 1% to me and 3% to the selling agent. That would save the FSBO 2% which, on an average listing of $200,000, represents a savings of $4000.

So that's what I said to the FSBO when I was at their door. I simply said the following:

* If you list with me I'll give PAY you $4000.

Now how's that for an opening line! And yes... it certainly got the FSBOs attention. I then booked an appointment and did the deal. Now why did I do this? For a couple of reasons.

1. I wanted out of the slump and FSBOs are the quickest way out.

2. That FSBO had to buy a home from me once his sold. And when he did, I would earn 3% on the sale since he would be using me to find his next home. So I would earn 1% on the listing and 3% on the sale... that's not too bad at all when you think of it.

3. At the same time I was working with the FSBO, I returned to the basics of marketing and prospected my personal database for business.

Training Article Summary...

So getting out of a slump is really not a big deal at all. You can also use this commission savings approach with Expired Listings, as it works well with them too. What is important is that you return to the basics of prospecting. If you do and continue doing the basic work of harvesting leads, your slumps will not show up as often!

But when they do... think FSBO and enjoy your quick results!


Random Training Articles:
Prospect 'For Sale By Owners' Without To Speaking To Them 'Face To Face'
How To Show You Are Listening To Your Prospects
How To Defuse Homeowner Anger

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