DGS 267: 3 Things to Increase Your Close Rate in Property Management
Description
Recently, Jason and Sarah hosted a few momentum coaching calls where they taught DoorGrow Mastermind members ways to grow and scale their businesses.
In this episode of the #DoorGrowShow, property management growth experts Jason and Sarah Hull go over 3 strategies property managers can use to increase their close rate.
You’ll Learn
[01:53 ] Sales in a post-trust era
[07:16 ] Objection-handling with a newer sales strategy
[09:59 ] Proof bomb testimonials
[13:55 ] One of the most effective selling tools
Tweetables
“A lot of you are trying to sell the way you learned maybe in real estate or the way that things happen in the past and you're probably finding it harder and harder as well.”
“My agenda is to figure out simply, do they need what we have?”
“If they can't find a consequence to not starting now, then they won't start now.”
“People's trust levels are at an all-time low. And so in selling, I've had to really change things up.”
Resources
Transcript
[00:00:00 ] Jason: If you have any leads, deals, opportunities in the pipeline right now, and you would love to maybe double your close rate or double the deal count that you're getting out of your existing lead flow, I think these three elements combined would easily do that.
[00:00:14 ] Welcome DoorGrow property managers to the DoorGrow show. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you are interested in growing in business and life, and you're open to doing things a bit differently, then you are a DoorGrow property manager.
[00:00:31 ] DoorGrow Property Managers love the opportunities, daily variety, unique challenges, and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not because you realize that property management is the ultimate, high trust gateway to real estate deals, relationships, and residual income.
[00:00:50 ] At DoorGrow, we are on a mission to transform property management business owners and their businesses. We want to transform the industry, eliminate the BS, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. We're your hosts, property management, growth experts, Jason, and Sarah Hull the owners of DoorGrow.
[00:01:10 ] Now let's get into the show.
[00:01:13 ] So today we're going to talk a little bit, this is going to be a quick episode. We've got camera malfunctions. I don't know. I don't know what's going on, but I had a coaching call with clients recently, just the other day. We do these momentum coaching calls with some of our clients in the mastermind to get them back in momentum.
[00:01:31 ] Like if they've maybe been disengaged a little for a little bit, or they've been focused on other things, or they're kind of unclear on what they should be doing next, we want to get them back in the state of momentum, which is where entrepreneurs want to be. And so, on that call, I was sharing with them some of the new stuff cause some of them have been a little bit unplugged and we're always adding new, innovative ideas.
[00:01:53 ] So one of the things that I've noticed recently is that sales, we're kind of in this post trust era. I've noticed over the last three, four years, sales has become really difficult. It's become harder to sell using older sales tactics or typical sales tactics. And so I had to change up how it was selling.
[00:02:14 ] And I did a lot of research, a lot of study. I took an empathy course and a communication thing, like seminar thing, and just a bunch of other stuff. And the old school sales, methodology just isn't working here in this post trust sort of era, like nobody believes anything anymore. The news, you can't really trust it.
[00:02:37 ] We all know now the news is fake, right? Voting has been fake. Food's been fake, right? A lot of the medical stuff shoved on us, fake, right? Just saw something about the conspiracy theory or scam of like C sections being pushed on people, which is like ridiculous amounts, like everything's fake.
[00:02:56 ] And so we don't know who or what we can trust. But we trust ourselves and so what I've noticed is people's trust levels are an all time low And so in selling I've had to really change things up and transparently sales was not going really well for us for a while, right?
[00:03:13 ] Sarah: Yeah.
[00:03:13 ] Jason: Like we had a lot of clients that stayed in our program, but closing deals was hard.
[00:03:17 ] Sarah: Yeah, and we didn't focus on sales.
[00:03:20 ] Jason: Yeah, it wasn't really a focus for us. At all. We focused a lot on the product. Yeah.
[00:03:24 ] Sarah: For like a year and a half maybe almost two years and then by the time we needed to focus on sales, it wasn't as easy to like, just flip a switch as we thought. We were like, "okay, we're ready now. Like, let's amp up sales." And they were like, "oh, that isn't happening the way we thought."
[00:03:43 ] Like, we just thought, you know, like, just pick it right back up where you left off.
[00:03:47 ] Jason: Yeah. I thought, because I hadn't been doing sales for years. Like I had sales team members, people. So then I was like I'll go back to doing sales. And and the game has changed. Like, and a lot of you are trying to sell the way you learned maybe in real estate or the way that things happen in the past and you're probably finding it harder and harder as well.
[00:04:08 ] I would imagine. So what I've noticed is that we need to shift to a different model. So I shifted to a more question based empathetic model of selling. And I went through and coached our clients on this and they're already starting to get some different results, which is awesome. My close rate using this different methodology has gone through the roof.
[00:04:32 ] So what I've noticed, my close rate has gone through the roof, but what I've noticed is by just being super curious and not trying to sell something.
[00:04:40 ] And I know that sounds wild, like I'm closing way more deals by not trying to sell. I'm just being curious and I'm just being helpful and I'm asking a lot of questions. If I'm on an hour call, I'm spending like almost the entire call just asking questions and letting them talk. If I ask questions in a strategic order, what I'm noticing is that if I ask the right questions, it helps them figure out what their problem is. It helps them figure out what their sort of ideal solution is. It helps them figure out what the consequence is if they don't change this, or if they continue doing what they're doing.
[00:05:14 ] And then at the very end, like, I'll get into the pitch a little bit. But what I'm noticing is people don't know, we assume people know what their problem is. Like somebody comes to you for property management and you're like "they're already dealing with the problem. They're aware." They might be superficially, but they're not aware of the problem. They're not aware of how they feel about the problem. They're not aware fully about what the impact of that problem is. And they're not really even aware of what they want or what the ideal solution is to some degree. They become aware of all of this stuff when you ask them, like in that moment.
[00:05:47 ] And so when I start asking clients these questions, they start, these potential clients, they start formulating this real time. I know NLP stuff. I can see their eyes moving around the right way. I know they're now creating this in their head. They're figuring it out. And if they don't know that they have a problem or where their pain is and what they want and what paradise looks like and the ideal outcomes and if they haven't formulate all this, it's really difficult to close the deal. It's really difficult to get them to move forward towards what they want. And I've also given up focusing on trying to you know, having any sort of agenda. My agenda is to figure out simply do they need what we have? I can see this, but they need to figure this out. So I need to ask questions to help them see that they might benefit from this or that they need something. And they, if they do identify that they need something different or they need help, then the next question I need to figure out is, do they want what we have? And that's it! i'm no longer trying to pitch and spending the majority of the call telling them how awesome our program is and all the cool stuff that we have. I go through and I just ask some questions and then at the very end My pitch is like I just picked three things because there's so much in our program. It was overwhelming people.
[00:07:02 ] I spent the whole call like "we have this call! We do this! We have this! And we have all this content in DoorGrow Academy
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