Network Marketing MLM, Can Realtors Learn From It?

I have over 8 years as a trainer in the Real Estate and Mortgage professions. When the market turned, I began researching Network Marketing, and I discovered that many of the skills used for success in MLM can also be used for success in the Real Estate.

When an agent continually struggles to get a listing, or to retain a buyer agency, the first question they should ask is “why?” Let me paint a little picture to see if this has happened to you.

You just found out there’s a big business function this weekend. Hundreds of people will be there. SWEET! An opportunity to talk to lots of people. You're going to make a killing getting appointments for listing presentations and new buyers.

You talk to people all night, but leave without a single listing or buyer’s appointment. At this same party another realtor is networking for business. Same people, same everything. They get 4 listing appointments, and 2 home buyers.

What the heck is going on? I did everything my broker taught me; dress professional, be motivated, believe in my company, build friendships, blah, blah, blah. I’m great at socializing, and I know real estate inside and out, so the people I talked to must have all been idiots not to want my services (yeah, I’ll admit it, I’ve said that early in my career).

Let me ask you this....what is the common factor in every conversation you had that night?

YOU ARE!

So how can you fix it? How about learning what to say and what not to say? Now, I'm not talking about trickery, or some magical hypnotic phrases that cast spells on the people you talk to, those don't exist. I’m talking about a simple phrases that all top producers use, phrases that can get you more listing appointments. Here’s one you can start to use TODAY!

This is called the “I Show People…….” skill. Now this is where it may get a little dicey, and some people will resist, but most people who made this one simple change in how they network, dramatically increased their listing appointments.

First, I know you’ve been taught that when you go to a function, you should wear your business proudly, with company shirts, name tags with logos, things that scream “I’M A REALTOR WITH XYZ COMPANY”. Here’s the problem with doing that…You’re making it about YOU and not the people you meet. Save your promotional garb for when you actually have the appointment or for “realtor only” functions.

Now, let’s repaint that same scenario. You’re at the same business function,  you’re dressed nicely, but not advertising that you’re a realtor. When you begin a conversation with someone, they will have no idea what you do for a living, and this puts YOU in control. No preconceptions about realtors, etc.

Most conversations will naturally lead to one party or the other asking what a person does for a living. When they ask you what would you say? Come on, think. What do you say now when a person asks you that question?

 “I’m a realtor with xyz company!”  WOW, you just dazzled them! Listing appointments are rolling in. Well, maybe not.

Instead, what if you could answer that question with a response to that makes them say “Tell me more!”? Well, that’s what the “I Show people….” skill does. Next time a person asks you what you do for a living, try one of these…

·         “I show people how they can get the maximum price for their house when they sell it.”

·         “I show people how they can get the best interest rate when buying a home.”

·         “I show people how to avoid the top 5 mistakes when selling their home.”

You’re no longer a realtor, but a person who has something of value to offer. Make sense? Absolutely! Because it makes them want to know MORE! If they are in the market to sell or buy, then you set the listing or buyers appointment. Let me repeat that YOU SET THE LISTING OR BUYERS APPOINTMENT. The appointment is where you’ll explain what you stated you can do for them.

You’re focus at the function is to SET APPOINTMENTS, not to give a presentations. Set the appointment, and then continue networking to set more appointments. Tell them you have some great visual aids and brochures that help explain it all, but you do not have them with you. SET THE APPOINTMENT to provide the information.

It’s also important to know that you must tailor the phrase to whatever “Value” you can offer, and then be prepared to show how you can provide that value. In other words, if you say you show people how they can get the maximum prices when they sell, your presentation better be geared to show how you can do that.

So start with “I Show People….” and then fill in the “something of value” that you can offer. Anything that will get them to say “Tell me more!” so you can set an appointment.

Still wondering if Realtors can learn from Network Marketing? The fact is, trying to grow your business without the proper skills is like trying to pound a nail into the wall with a banana.