Friday, July 4, 2008

 

Making The Most Of Questions At A Presentation

People usually prepare sufficiently for a presentation, but not many of them are as equally well geared up for the questions raised during and upon completion of the presentation. Making sure you are ready for the onrush is bound to produce better results as it will reflect your knowledge on the topic. So, how should you go about this?

Anticipation is the key here. Whilst you are preparing your presentation material you will become aware of what questions are likely to be asked. If you know what to expect and make ready your responses you will look professional and well-informed.

To prevent potential panic as to the level of your preparation you should write down what questions you expect to be asked and then carry on with your work. At any point you can go back to the questions and add more as they come to mind. Make a point of telling your audience at which point you will be taking questions, for example, during the presentation or when it has finished.

If you decide to take the questions at the end, do so about ten minutes before your planned finishing time. This will allow you time to answer the questions and then give you the opportunity to draw the presentation to a conclusion. Doing it this way avoids the presentation just drying up when the questions finish, which is what happens if you leave the questions right until the very end.

Show respect at all times to the person asking the question. Make sure you listen to him or her properly in order to understand the intent of the question fully.

Repeat the general outline of the question to show you have understood. This method also allows you a few extra seconds to think about your answer. It also ensures that anyone who missed the question when it was asked, hears it the second time around.

When you answer the question, make sure you look at the audience as a whole, and not just at the person asking the question. You do not want to find yourself engaged in conversation with just one of the attendees which may well result in you losing the attention of the rest of them.

Don't fall into the trap of becoming too relaxed once the speech is over. This will only lead to you rambling on with your answers instead of keeping them to the point and precise.

If you do not know the answer to the question, be honest and say so. Tell them that you will find out the answer and get back to them by email or on a contact number.

You may find yourself in a situation where no questions are asked. You cannot just pack up and leave, so have a couple of questions prepared and tell the audience that these are typical questions and continue by answering them yourself. This may encourage those who were just thinking about asking a question to actually get on with it and take up the opportunity of gleaning even more information from your presentation.

Kevin Sinclair is the publisher and editor of Be Successful News, a site that provides information and articles on how to succeed in your own home or small business.

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Competing With Other Agents

All agents are at different stages of their career and different levels of production. Each has their own philosophy of running their business and different levels of staffing for accomplishing it. I get asked constantly, How do I compete with agents that have more listings, staff and production than I do? That is certainly a valid question; since there are a whole lot more new agents, inconsistent agents and average agents then there are mega-producers. How do you compete against a mega-producer? Before I answer that let me give you some rules of how you dont.

1. Dont compete on numbers or production: The number of listings or sales.

If someone does a whole lot more than you, you dont want to point that out to the client.

You do want to question the client if that is an issue for them. A great question to ask: Is a certain production level of the agent important to you? or Provided that an agent clearly demonstrates their ability to do an outstanding job for you, does it matter the size of their operation? or What are the top three items that you are concerned about when selecting an agent?

2. If you are newer, dont compete on years in the business.

We need to level shift that discussion to a job well done or satisfied clients. When competing with mega-agents, make sure you have testimonials handy. Clearly demonstrate the success you have achieved with satisfied clients.

3. Focus on per agent productivity if its a competitive point of difference.

I have seen far too many mega teams that do a lot of business only because they have a lot of bodies on the team. One of the first things we look at when working with a mega-agent team is the production in units divided by the number of people on the team. This number really demonstrates the skill level of the people on the team. Too often those mega-agents only have warm bodies.

I recently talked with a mega-agent that had a large ego. He was only a mega-agent because he had lots of assistants. He had 10 people on his team with 150 gross units sold thats only 15 units a person or only 1.25 homes a month per person. The truth is thats pretty poor production for all those people. He is also fooling himself that he is making any money. You could easily explain to the seller that with all those listings and all those leads they are working with, they only get 1.25 transactions a month which is not right. The conversion rate on leads is extremely low. You can do much better than that and not waste opportunities to sell their home and actually increase the probability of sale for them.

If a mega-agent has 20 active listings with an average of 10 calls a month per listing thats 200 calls a month. To only convert 1.25 transactions a person from over 200 inbound calls a month shows there is a problem. You then assure them that you personally take all the calls on their home. That you are not passing it to someone who is obviously not prepared to convert the call to an appointment which is the key to sales and that your conversion ratio and production ratio is much higher.

The fundamental argument for any agent competing against a mega-agent is service based. A mega-agent cannot provide the personal service themselves that a singular agent can provide. They can provide great service through others on their team, but not themselves. When I was selling 150 homes a year there were only so many touches I could provide my clients in a personal manner. I had to rely on my transaction coordinator or marketing coordinator to do more touches than I did. Since the biggest complaint the consumers have toward Realtors, other than they falsely believe we make too much in commission, is communication.

When competing against a mega-agent, we must sell personalized service and personalized communication. You wont hear from three other assistants, you will hear from me. You arent listing with these assistants, you are listing with me. Who better to handle all facets of the transaction than the agent you list with the one that you trust. Doesnt that make sense?

As a mega-agent it was my job to be prepared for this discussion by the other agents and show them the benefits to my system or business model. What it boils down to - is who has the best presentation and sales skills. Does the need for personal service carry greater weight than more production? Did you convince the client the production part is easy, the service part is hard? Did you share with them you could run your business like the mega-agents, but you decided your clients were too important? You decided that you dont want to take the risk of a dissatisfied client. (Provided you really believe that and can demonstrate that to the client or prospect.) It is better to position yourself with a competitive advantage. There is an old adage that we must define our competition before they define us. When trying to grow your business and compete with mega-agents, take the right steps and make a strong belief-driven presentation. More often than you think you will come out on top!

Dirk Zeller is an Agent, an Investor, and the President & CEO of Real Estate Champions. His company trains more than 250,000 Agents worldwide each year through live events, online training, self-study programs, and newsletters. He's the widely published author of Your First Year in Real Estate, Success as a Real Estate Agent for Dummies, The Champion Real Estate Agent, and over 300 articles in print.

Real Estate Champions is a premier coaching company. Training covers a wide spectrum from new agents, to seasoned, as well as those interested in real estate marketing or real estate investing.

You can get more information by visiting Real Estate Marketing, Realtors-Build Your Business, Real Estate Marketing

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