Day: August 28, 2009

5. 676 Lakeridge in Avalon. 36 more stacked townhouses in 3 blocks of 12 each.

4. 265 Centrum Blvd in Queenswood Heights. New Indoor Pool and Gym.

3. 8465 North Service Road (Between 10th line and Trim near water). Two 3 -1/2 storey apartment buildings with total 48 dwelling units.

2. 5607 Rockdale in Vars! Plan of Subdivision!!

1. 265 Centrum in Queenswood Hieghts – 5 storey hotel with 100 suites!!!

Details? just ask.

Cheers

So I’ve been pretty darn busy the past few weeks, and I am starting to notice and learn new things about my industry, my fellow salespeople, my clients, and myself as well.

About the industry – The market can change on a dime. I remember not even 5 or 6 weeks ago salespeople were reporting slightly lower than average volume of sales, and then a week or two after activity shot through the roof. I think it was around August 1st that everything just blew up. Everyone wanted one last chance at using the cheap money out there before the fall and winter was in full effect, and everyone began fighting for for properties! So much in fact that there would sometimes be half-a-dozen offers whithin days of merchandise hitting the market. Unreal!

About my fellow Salespeople – There are different forms of success amongst them. There is the type that takes the time to be kind and patient with their clients and build a business relationship out of trust and respect, and the kind that merely counts on volume of sales and does not put much effort at all into any form of relationship. Both are successfull, where the former builds a refferral based business and the latter builds a strict numbers-based-business that works on a simple economic model of numbers in VS numbers out.

My clients – can be very emotional, and I dont blame them, it is not their fault. It is the responsibility of the Salesperson to manage their clients expectations and keep communication open the entire time.

Myself – I am not a salesperson by nature – more of a provider and a giver. What I mean is that I don’t really know how to use a sales pitch to persuade and get things done; its my true nature to substantiate what I say and do with backup and facts. I am pretty big on analysis and I always do my homework for my clients and myself as well. Why does this matter? Well – it takes a lot of time. I like to have a very solid strategy based on irrefutable logic, and I like to base my decisions, including negotiations, on a functional compromise that makes sense.  From my point of view, doing the homework for a Buyer really helps knock the Seller off their knowledge based pedestal, and shows me which angle to approach from for the best end result for my client. Like I said – this research and strategy work takes some time – but I like it! When it works against me is when some simple persuasion and sales technique could have done the same thing, and I wasted time. I am still on the fence about this one, since my style covers all my angles and bases, and I have an answer and logic for every step forward, or to the side if need be.

My conclusions:

Industry – I need to diversify my business. I am currently working on a few waterfront deals, suburbian townhomes and rural properties. I think a proper mix of business will protect myself from quick changes in the marketplace. Too narrow of a niche makes you vulnerable to market changes.

Salespeople – When I started this business, one of the tools I used to analyze the direction of the industry was the TREACY model that I learned in my 4th year at University. Essentially is takes a snapshot of the industry and plots its course on three different scales of progress. One focuses on Product Leadership (Strong Branding), another on Operational Excellence (Volume and economy of scales based) and finally Customer Intimacy (total solutions and Relationship Management). I found Branding and Operational Excellence were the dominant Brokerage strategies, and Customer Intimacy,while present in some spots, was the least used strategy. It was leaving clients feeling like a number rather than a person, and making quite a number of people unhappy. What I plan on doing with my business is getting that volume that brings in the the cold hard cash, yet investing heavily in a Customer Relationship Management (CRM) division that solely manages clients expectations, maintians positive relations, and makes sure they are taken CARE of. That way I believe I can acheive a great volume of business, while incresing my refferal based clients, and building a fantastic reputation of service AND results. That is the kind of salesperson I want to be, and the type of business I will build.  How will I get there? Well Im definetly on my way, and the secret is just that! haha.

My clients – like I said, its all about managing expectations. The better of a job I do here, the happier the clients are. I plan on having some sort of standard meeting for my clients, where a mobile CRM worker will work with the client to make sure all wants and needs are met, and they are as satisfied as can be. Until I have such a worker, I am of course the CRM specialist, as well as the salesperson, the admin, the bookkeeper, the runner, the buyer specialist, the seller specialist and the President!

Myself – Keep working hard and reinvest in myself. Sales training for one, keeping an open mind and focus on communication when and where it counts.

Til next time,

Marc