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Learn about the six types of capital, why attitude is more important than financial capital, and how you can work with the capital that you do have to make a real change in your own bottom line.
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New Home Sales, New Home Sales Management Training, New Home Sales Training, Sales Management, new home sales management | 
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Posted by Myers Barnes
Meetings are “management in action,” and are opportunities for people to gather in groups to solve problems, make decisions, share information and exchange views and opinions.
However, meetings are like advertising. It is estimated that 50% of all the dollars spent on advertising is wasted, but no one is certain which 50% it is so they don’t know what to eliminate. In meetings, it is also estimated that 50% of the time is wasted, but no one is quite certain which is the unnecessary half to eliminate.
As a New Home and Neighborhood Sales Manager, the way you conduct a meeting and your performance in a meeting are major factors comprising a successful career. In a meeting you are observed by both supervisors and subordinates. You can beam – or you can bomb – but you cannot hide.
A MEETING IS AN INVESTMENT
There is a cost associated with each meeting; therefore, there must be a return (profit) in excess of the cost. To determine the cost, multiply the average profit of just one home or homesite sale that could occur during your sales meeting. Also, take into account the average commission and wages of the participants, times the number of hours of the meeting.
The cost of a meeting in never taken into account, yet you will find this one simple exercise reveals a huge expenditure that normally equates to thousands of dollars an hour. Bottom line: You are in business to create a profit and there is no justifiable reason to be in business without profiting. Therefore, if you discover your sale’s meeting is an expenditure that equals thousands of dollars per hour, then the return on your investment must be greater than the cost of the meeting.
Why do most salespeople justifiably dislike sales meetings?
1. The meeting has no written agenda.
2. The meeting is run by someone who is uncomfortable with, or who cannot facilitate, a meeting.
3. Most meetings are glorified policy sessions and the topics center around forms, paperwork and trivial non-sales-related topics that take twice as long as they should to discuss and will probably change next week.
4. Meetings do not have enough “real world” selling lessons.
5. Most meetings start and end late, allowing latecomers to penalize the prompt attendees.
6. Some salespeople people think they know everything and should be out selling and earning a profit instead of wasting time in a meeting.
So what is the solution? How do you design and conduct a great sale’s meeting every time? It’s simple: plan and prepare. Set an agenda and stick to it. Make it fun, be productive and include participation by everyone. Here are some tips:
• Always have a written agenda. The biggest mistake is to think the only one who needs an agenda is you. Organize your topics in order of importance and distribute the agenda 24 to 48 hours in advance so participants can be prepared.
• Avoid the Demotivators. The most unsuccessful meetings do things like going over paperwork, company policies, handling personal disputes and verbally re-enforcing what’s wrong. Try this: Have an instruction sheet for the new policy and/or forms and deliver it by e-mail. Include specific instructions in your e-mail and always give the reason(s) why this new policy or form is necessary. Conclude your e-mail by stating: Questions and concerns about the policy or form are to be directed to me.
• Have your meeting early in the morning. Include a healthier food such as bagels, fresh fruit and juice, water and plenty of hot coffee prepared in advance. Avoid the pastries and soft drinks. They deplete energy and actually cause a lack of participation.
• Like a good razor: Start sharp, end sharp, be sharp. Fine the late ones or simply shut the door. Regardless, START ON TIME, END ON TIME and MOTIVATE OTHERS TO FOLLOW YOUR LEAD.
• Stress the positive. Support your people in public, especially among their peers and in front of management. If you have a negative participant or a negative comment to make, be sure to say it to him or her privately.
• Use the meeting as a weekly training session. Remember your return on investment. The goal is to motivate, teach and learn. The training can be A) led by the manager B) provided by experts C) led by individual salespeople people or D) enhanced by role-playing and/or videotapes and books.
• Use the meeting to update the staff’s product knowledge. Let construction and/or land planning experts from other departments within your company keep the team abreast of new materials and processes, as well as sharpen the team’s construction knowledge.
• Reward positive behaviors from the previous week. Present awards and share plenty of success stories. This helps people feel better when they leave the meeting than when they arrived and they’ll anticipate the next one.
• Relate expectations of the upcoming week. Have each salesperson verbally affirm what they will accomplish and have each manager affirm how they will assist the salesperson in the accomplishment of the goal.
• End on a high note. Include two to three minutes of a motivational highlight, a success story of a team member, a quote, a video clip or an inspirational reading. Give the team something that causes them to walk through the wall rather than leave through the door.
Meetings should help salespeople stay focused on the result – making the sale. In the face of your day-to-day responsibilities, your meetings are the only “group opportunity” to make a substantial difference. Those attending are exchanging something very valuable and irreplaceable – their time – in order to be there. So don’t disappoint them.
1 Comment | New Home Sales, New Home Sales Management Training, New Home Sales Training, Sales Management, new home sales management | Permalink
Posted by Myers Barnes
When it comes to getting referrals, are you overcomplicating the process? Here are the four fundamental steps to making sure you have a simple and direct route to referrals.
1 Comment | New Home Sales, New Home Sales Management Training, New Home Sales Training, Sales Management, new home sales management | Permalink
Posted by Myers Barnes
Are they still relying on gimmicks or unsustainable incentives and discounts? The Great Recession is ending. The Recovery is coming. But things have changed forever. Only the sales teams that have Thrival Instinct will know how to make it in this new environment.
Can’t see the video? Click here to view it on Youtube.
The Revival is Coming.
The Myers Barnes New Home Sales Management Conference
June 7th & 8th, 2010 in Dallas, Texas
$200 OFF for EARLY REGISTRATION!
Past Attendees can receive $150 Off as well!
Visit ThrivalRevival.com for more information and to make reservations.
No Comments » | New Home Sales, New Home Sales Management Training, New Home Sales Training, Sales Management, new home sales management | Permalink
Posted by Myers Barnes
Still in Survival Mode?
Can’t see the video? Click here to view it on YouTube.
No More Begging for Sales! The great recession is ending, and the recovery is coming. But things have changed forever—only the sales teams that have Thrival Instinct will know how to make it in this new environment.
The Thrival Revival is Coming!
The Myers Barnes New Home Sales Management Conference
June 7th & 8th, 2010 in Dallas, Texas
Stay Tuned for More!
—Myers
No Comments » | New Home Sales, New Home Sales Management Training, New Home Sales Training, Personal Development, Sales Management, new home sales management | Permalink
Posted by Myers Barnes
I recently arrived home after traveling around to various cities and presenting motivational workshops. I had my mind set on unwinding in my most comfortable chair and putting my work aside for awhile. As I walked up to the door, I waved at the landscaper riding his tractor across my lawn.
Once inside the house, I collapsed into the aforementioned chair, and was instantly met by my wife who told me I needed to talk to the landscaper because he needed some business advice. I can honestly say I felt like saying, “I’m fresh out,” but anyone who knows me would just laugh at such a ludicrous thought.
I walked outside a few minutes (and sighs) later, and waved him down. He sheepishly said to me, “So, you’re the guy who teaches people how to make more money.”
“That’s one way to put it,” I replied. He waited for more so I turned the questioning to him. “How much are you charging me per hour for that tractor?”
“$75,” he replied quickly.
“And how much for your time?”
$15 an hour,” he said.
“So your equipment is worth more than you are. The answer to your challenge here is that you need to increase your value as a service provider or I will find that I have more need for the tractor than for you.”
I then advised him that while he spent 8 hours a day riding a tractor, he could be listening to audio books that would give him numerous tips for increasing his business and his value. “Make your ultimate goal to become more valuable than your tractor,” I said, and walked back to my comfy chair.
I was once sitting on the proverbial tractor. There I realized that my true value should be measured by what I bring to a client in terms of knowledge and skills, not replaceable equipment.
2 Comments | New Home Sales, New Home Sales Training, Personal Development, Sales Management | Permalink
Posted by Myers Barnes
I recently wrote about health as a deficiency need. It only seems to take precedence in our lives when we begin to feel ill, at which time we’re already operating at a loss.
Business health is a similar concern. When things are prosperous, we don’t focus on growing the client list, but maintaining the volume we have. We’re busy taking care of the clients who are calling today, without thinking about those who need to be contacting us in the future. Suddenly, the phones aren’t ringing and the prospects aren’t parading through the sales model. And, without the leads to convert, your business health will suffer.
Let me tell you, it is never “sudden”. The lull is the result of ignoring your lead generation system. You’ve been so busy managing the leads you have that you didn’t take the time to do include preventative “health care” measures. Much like taking vitamins, watching your diet, and exercising regularly will keep your body working better, being watchful over your lead generation process will keep your business performing as it should.
With an active, ongoing lead generation process, you won’t have these gaps in sales. The time to implement one is not when the leads have dried up. By then, it’s too late. You know how long it takes to cultivate a lead and close the deal. Do you want to be starting that process after the cash flow has slowed to a trickle? Definitely not!
Take some time today to look at your lead generation tools. How can you incorporate a system to keep the process constant? What kind of exercise regime do you need for your business to ensure a healthy dose of new leads on an ongoing basis?
2 Comments | New Home Sales, New Home Sales Management Training, New Home Sales Training, Sales Management, new home sales management | Permalink
Posted by Myers Barnes
Making a sale requires action, not inaction. Unfortunately, I see one sales center after another populated with so-called “salespeople” who are merely waiting for a prospect to walk in the door of the model. They’ve sharpened their pitch and are ready to hurl it at anyone who crosses the threshold. But, in the meantime, they sit and wait for the company’s marketing efforts to deliver the buyers to them. While they sit and wait, sales are being lost to more proactive professionals.
Here’s the reality. Marketing is the act of attracting. Prospecting is the act of seeking. The Bible says, “seek and ye shall find.” It doesn’t advise you to sit around and wait. In any economy, but particularly in a down market, you need to get out of your chair and find the buyers. Make it happen!
Prospecting is a contact sport. The more contacts you gain, the more sales you will close. Yet oddly, most salespeople wrap themselves in a cocoon and wait for change to occur, laying their hopes entirely in the ability of the company’s marketing campaign to generate leads. As a salesperson, you can let things happen or choose to seize control of your success. When you become an active prospector, you declare, “I accept complete responsibility for the traffic that comes in here. I depend solely on myself as a marketing department.”
Every day that you wait for someone to come to you is eight hours wasted. Get in the game and make direct contact!
No Comments » | Marketing, New Home Sales, New Home Sales Management Training, New Home Sales Training, New home sales marketing, Personal Development, Real estate courses, Recommended Blogs, Sales Management, new home sales management | Permalink
Posted by Myers Barnes
I’ve learned that people who don’t believe they are creative are usually wrong. Creativity isn’t limited to art, music, or literature. Being creative simply means you approach a challenge with a fresh look. You’re not a cookie-cutter robot who just churns out the same answer time and time again, regardless of the situation.
Look at “creative financing” which is prevalent in home sales. If you’re a forward-thinking sales person, you continue to explore “outside the box” thinking to help your clients secure the home they want, at a rate that will keep them in their home as long as they wish. They are relying on your ingenuity and knowledge of the process to find solutions that the layperson hasn’t discovered. “Creative financing” doesn’t mean locking a person into more debt than they can afford. That’s what contributed to this mess—and gave the term a really bad connotation.
So, get away from the term “creative financing” and instead explore “creative solutions.” Yes, it’s tougher to find the financing, but it’s by no means a rock-solid impasse. You need to unleash your ingenuity and talk to the financing sources in your network. You must also work to expand that network to keep broadening your creative resources. And so on and so on. Ask questions of your providers. Give them scenarios and get their take on what will work and what won’t. Demand creativity from them as well! Your diligence will make the difference between an offer and a closing.
Keep Selling,
Myers
No Comments » | Marketing, New Home Sales, New Home Sales Training, Personal Development, Real estate courses, Sales Management | Permalink
Posted by Myers Barnes
Foreclosure. In the new homes market, it’s the “F” word. The number of foreclosure filings in the U.S. rose by 81 percent in 2008 and by a whopping 225 percent from 2006. The housing market is flooded with the tsunami of perceived bargains. The key word here is “perceived.” There are several reasons that the “buyer beware” rule should be in effect when considering a foreclosed property:
1. Poor maintenance. If the owner wasn’t paying the mortgage, what makes you think he/she was investing in even the most basic upkeep?
2. As is. The “As Is” caveat could be costly for the buyer. A new home and its contents have warranties that protect the buyer. When buying a foreclosure, you get exactly what you pay for.
3. The angry owner. In the wake of a foreclosure, many former owners feel victimized by their situation. There are countless tales of homes being stripped of appliances, lighting fixtures, and even plumbing—all of which are removed in haste, and with no concern for the incoming dweller.
4. Hidden cost-cutters. If the foreclosed property is a new home, the builder was likely cutting many corners to avoid mounting more debt. What’s hidden under the drywall? “New” doesn’t necessarily mean a home is in excellent condition; it could mean that no one has yet discovered the creeping shortcuts.
5. Wasted time. Purchasing a foreclosure requires a mountain of paperwork and it can take months before you discover whether the bank accepts the deal. And what happens if your offer fails to make the cut? You begin the lengthy process again.
When your prospective buyer tosses down the “F” word like a gauntlet, pick it up and present the reasons why the foreclosed property is a questionable investment, at best. Then bestow upon them the many reasons that the new home you’re selling will deliver long-term value, satisfaction, comfort, and peace of mind.
Keep Selling,
Myers
No Comments » | New Home Sales, New Home Sales Management Training, Sales Management | Permalink
Posted by Myers Barnes
When I told you “It’s Free in 2009,” I really meant it! Announcing the launch of my new video training series. All my most fundamental lessons about succeeding in new home sales will be available for you to watch anytime. Both on my website MyersBarnes.com and at YouTube, you’ll be able to watch new videos every week and enjoy all of my training FREE!
Keep checking back each week for more FREE New Home Sales Training Videos, Super Achievers!
Myers
Comments Off | Marketing, New Home Sales, New Home Sales Training, New home sales marketing, Real estate courses, Sales Management, new home sales management | Permalink
Posted by Myers Barnes
Here are some cold, hard facts about New Home Sales in the 21st Century: Nationwide, more than 50% of all new home sales have been through a realtor. In fact, some builders have seen his figure rise to as high as 90% over the past year. Why is this the case?
In our challenged marketplace, with the overwhelming negative press the economy and the housing market have received, prospective buyers are now simply afraid, and feel that they must have representation to help them buy a home, and protect them from what they perceive as predatory sales people. This perception, while not often based in reality, is not one that will go away any time soon.
So, to market new homes, we must have a complete and easy REALTOR OUTREACH PROGRAM that clearly tells the realtor two fundamental facts:
First: What’s in it for the realtor? Offer clear incentives—a co-op percentage, bonuses, and any other incentives like trips, etc—real motivators for the realtor to bring prospects to your property, and put them right up front in all of your outreach.
Second: What’s in it for the realtor’s client? What can you do to help with price reductions, closing costs, financing, etc? And can you offer more options or upgrades?
Part 2 of this article will be posted next week. Stay tuned for more from real estate advertising & e-marketing expert Tom Nelson of NDG Communications.
No Comments » | Marketing, New Home Sales Management Training, New home sales marketing, Real estate courses, Sales Management, new home sales management | Permalink
Posted by Myers Barnes
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