What type of salesperson will emerge victorious out of this declining market? What skills and characteristics will he or she possess that will help them rise to the top? To answer this question we simply need to look at the past. Although it’s been almost 20 years since we have had a serious recession in real estate we have had our ups and downs to draw information from.
Thinking back to the last major slump, I can remember vividly my introduction into real estate sales in the aftermath of hurricane Andrew 1992. At the time I was working for Liz Claiborne as a Construction Manager. When Hurricane Andrew hit it not only decimated homes, it obliterated buyer’s confidence. Sales of new homes virtually came to a halt as conventional order taking was not enough. My father who owns Kennedy Homes decided it was time for a new type of salesperson. Remembering back to the 70s when interest rates were as high as 18% he knew the type of characteristics required for sales success. Thinking my extensive construction experience was more “in-Touch” with the needs of buyers, he offered me a position. I remember well my first day as a sales associate. It was Friday and the current salesperson gave me the five cent tour and informed me that she was unable to work the coming weekend. “Don’t worry” she said, “nobody’s buying anyway”. Fortunately the two weeks leading up to my first day I received training from Tom Richey along with spending considerable time reviewing the competition and product. That next day (not knowing any better) I met my first customer with enthusiasm and a great attitude. Not having a polished sales presentation I immediately gravitated towards the familiar by taking them out to the houses under construction, showing them details and dispelling the myriad of media induced concerns. I remember being amazed that selling homes felt a lot like working in warranty (except a lot more fun). The key being: listen first and listen often! Well, before I knew it the customer was closing me. Telling me “we will take two”. I guess I couldn’t have been listening too well since I didn’t know or think to ask if his sister was also looking. Anyway, I wrote two contracts that first weekend (much to the shock of the other sales agent). As soon as she found out she immediately asked me if we could start splitting commissions. Despite fearing the competition of a seasoned salesperson, I went with my instincts and wisely said no thus began a very successful and rewarding sales career.
