How to Prospect For Business in Commercial Real Estate
Jul 30, 2024
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In this engaging discussion, Benjamin Dennehy, known as the UK's Most Hated Sales Trainer, shares his unconventional wisdom on mastering cold calls in commercial real estate. He dives into overcoming call reluctance and the importance of establishing genuine connections with clients. Dennehy critiques traditional sales metrics, advocating for tailored communication strategies based on personality types. He also explores the transition to subscription-based sales training and highlights the significance of personal growth and skill mastery in navigating the sales landscape.
Overcoming call reluctance in sales requires confronting fears, realizing minimal risks, and embracing consistent practice to build confidence.
Prospecting success hinges on engaging emotionally with potential clients, fostering genuine connections to evoke reflection on their current situations.
Sales professionals must differentiate themselves through humor and relatable scenarios, while addressing clients' frustrations to enhance their pitch effectiveness.
Deep dives
Overcoming Call Reluctance
Many individuals experience fear and anxiety when making cold calls, often feeling apprehensive about the potential negative outcomes. A straightforward approach is emphasized: recognizing that the worst thing that can happen is a hang-up or, at worst, a complaint to a superior. Once individuals confront this fear and realize the risks are minimal, they can practice consistently to build their confidence. Success in sales requires a mindset shift from fear to action, and the best way to overcome this barrier is simply to make the call.
The Importance of Consistency
Consistency in making calls is critical for success in sales, akin to a fitness journey where regular workouts lead to better results. Setting aside dedicated time each day for cold calls increases the likelihood of reaching decision-makers, as they tend to be available early in the morning. Rather than blocking off long, unproductive periods, it's recommended to engage in smaller, consistent sessions daily. Tracking the number of meaningful conversations rather than just calls can lead to improved outcomes, ensuring that salespeople focus on quality interactions.
Shifting Focus to Emotional Engagement
The objective of prospecting should be to evoke an emotional response from potential clients rather than simply securing meetings. Developing a genuine connection and understanding the frustrations that clients may face allows salespeople to engage more effectively. By posing targeted questions and challenging assumptions, salespeople can foster doubt, leading the client to reevaluate their current situation. This emotional engagement makes clients more receptive and can ultimately drive them towards agreeing to a meeting.
The Power of Differentiation
To stand out in a saturated market, salespeople must differentiate themselves from the competition, especially when contacting property owners who are trying to sell or lease themselves. It’s essential to understand the reasons behind their reluctance to use agents and address their frustrations during the conversation. Using humor and relatable scenarios can create an immediate connection, while thoughtfully framed questions prompt potential clients to reflect on their current problems. Providing this unique perspective can capture their interest and open the door for further discussion.
The Role of Continuous Learning in Sales
For anyone in sales, continuous improvement is vital in developing and mastering the necessary skills to thrive. Engaging in ongoing training, mentorship, and practice can lead to substantial growth in a salesperson's abilities. Each interaction is an opportunity for learning, and the process of refining one’s approach can lead to greater confidence and success. It’s important to acknowledge that while sales may seem easy on the surface, mastering the trade requires dedication, practice, and a willingness to learn from both successes and mistakes.
My most popular podcast episode was with the UK's Most Hated Sales Trainer, Benjamin Dennehy.
So naturally I had to have him back for a second episode!
We chatted about all types of important topics, including how to get over call reluctance, what to say during the call, and what the objective of a good call should be.
Here's episode 1 if you missed it: https://youtube.com/live/W77G6nIywE0?feature=share
Learn more: https://salesmatrixcourses.com/
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