November 23, 2017

Improving Results with the P's of Sales

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Improving Results with the P's of Sales

Are you focusing on the wrong side of your business? Leadership sales coach Jason Forrest shares strategies that will help brokers coach their agents to grow and succeed.

As a broker, what your team expects you to do is likely the exact opposite of what you need to do to be truly successful. But unfortunately, what others expect from you often becomes what you expect from yourself.

You live and die by the sales results of the associates on your team, which means you’re focused on the P’s of marketing (product, price, promotion, position, packaging, and place). If you’re like most brokers, you’re thinking about what your marketing materials look like, whether you’re advertising enough, and how competitive your pricing is. And that’s exactly the paradox of this whole thing, because the aspects of your job that truly increase your team’s sales results are what I call the P’s of sales — people, process, and presentation.

It’s a controversial idea, especially when the housing market is great and salespeople are staying competitive. But when the market tanks, leaders realize that they have to change in order to survive. Brokers should make sure their marketing P’s are in check, but what they really need is to focus on the sales P’s. That’s what will set them apart from everyone else and earn them a greater percentage of a shrinking market share. People, process, and presentation are what modern leaders need to be focused on in order to succeed in good markets and bad.

Don’t get me wrong: The product, promotional strategies, packaging, production, position, and place of your marketing strategy absolutely need to be in synch. But the marketing P’s do little more than keep you in the game. To win the game, you have to dominate the P’s of sales.  

If you accept what I’m saying and pursue this new way of thinking, you might be lonely, because it ain’t always popular. Everyone around you is conditioned to believe that success lies with the marketing P’s, so that’s what they’ll be focused on. Your associates will expect your advice and leadership on marketing. They might even rebel when you bring up the P’s of sales. They may make it socially unacceptable for you to be the sales leader (or coach) that you want to be.

But don’t give in. Your people, process, and presentation are what will lead you to success. My clients are a testimony to that. Their success does not come from producing an extraordinary “iProduct” that sets them apart from everyone else in their markets. They’re at the top of their markets because they see sales differently and they coach their team members to be the best version of themselves.

As a new columnist for REALTOR® Magazine, I’m looking forward to delving into specific ways for you to use this new focus to coach your team more effectively. For now, it’s important for you to know that it’s about learning how to grow your agents and improve their sales processes and presentations. And trust me: Even if they’re skeptical now, they’ll come around. When they start making more money, they’ll see the light.

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