Shark Tank Mallorca E-Book

Oliver Steinmetz

• Herausgeber: novum premium Verlag
• Kategorie: Gesellschafts- und Liebesromane
• Sprache: Englisch
• Veröffentlichungsjahr: 2023

Seitenzahl: 157

Beschreibung

Mallorca is one of the most popular vacation destinations in Europe. Over 300 days of sunshine a year, Caribbean-like sandy beaches with turquoise seawater, a year-round infrastructure and the island's excellent accessibility make Mallorca a solid investment. Clearly, so many people here are putting their money into concrete gold, which means the real estate market is flooded with agents. What makes a good real estate salesperson successful in Mallorca, and what are the ups and downs of this industry? You will find the answers in this book!

Leseprobe

Shark Tank Mallorca

Are you an entrepreneur or an underachiever?

Content:

Foreword

Chapter 1

Can sales be learned and what is the secret to greater success in the real estate business?

Capital 2

My first steps in Mallorca

Chapter 3

Am I actually in the madhouse here?

Chapter 4

Nice fall on the face - The first self-employment

Chapter 5

Back to the roots: from sales agent to sales manager

Chapter 6

From classic real estate sales to real estate platform

Chapter 7

Use your network!

Foreword

"You guys just unlock a front door and collect a fat commission for it".

Many outsiders actually think that this is the daily reality of a real estate agent in Mallorca.

But is that actually true?

I can say with a clear conscience: Bullshit!

With this reading, you dear readers will be made aware that it takes a lot more to be successful in the Mallorcan real estate market than just having the ability to turn a key and open a door.

My book shows you what it takes to perform above average in the upscale real estate segment in Mallorca.

I am by no means suggesting that my tips and my views are the Holy Grail, but what you can expect in this book has worked very well for me. So are you interested in real estate sales and want to know what the key to more success is? Then welcome aboard!

For those who are not ready to jump over their own shadow, to perform above average and who have no desire to leave their comfort zone, this book is absolutely nothing. Please stop reading it and lie down again!

If you are a reader who isonly interested in what is going on in the real estate business, then you will also get your money's worth with this book. I don't want to anticipate anything, but it will get curious.

I have been selling real estate in Mallorca for over a decade and my sales results have made me an outstanding salesperson.

How do I come to such a statement, you are probably asking yourself now?

Quite simply: Because my successes prove it!

My resume speaks for itself: I started in 2011 as an intern at one of the oldestreal estate service providers Mallorca, was, among other things, salesman and office manager at an international company and am now the owner of an investment firm.

With our society we specialized from the classicalreal estate selling now in the refining of real estate investments. In doing so, I always find it very exciting to view the colleagues who show usinvestment offers from the buyer's side. It is often frightening to see how incorrectly some brokers behave during viewings. I'll put it kindly: incompetence really has no limits!

Based on my career and numerous practical examples, I will describe on the following pages what we experience every day and how our mindset should work with the ups and downs that this industry brings, so that we do not go crazy at some point! Most importantly, I will also point out what mistakes should be avoided at all costs so that you don't come across as an amateur to the buy side. First impressions don't get a second chance, and certainly not with the high-flyers, company owners and CEOs of corporations that we count among our buying clientele.

Dear colleagues, you may find yourself in some of the chapters of this book. We all get our asses kicked from time to time, but the important thing is to keep getting up and keep moving. Everything else is stagnation, and that is not an option, ever!

This book is an enormous added value for career changers who want to start as a real estate agent in Mallorca, but also for sales people who are already in the industry and want to increase their sales. My experience and tips should serve as a promotion for beginners, or to refresh your skills as a professional. This is always good and makes you smarter than the other way around.

Personally, I would have been very happy about such support, especially in my early days, and if you also want to start with brokerage, then this reading will be a great help to you. Use it as a guide and you will find that success is no coincidence.

Those were my motivating points to write this book.

I wish you plenty of entertainment and good insights.

Attack and maximum success!

Sincerely

Your Oliver

(Please forgive me that there will be no gender language in this book. I don't want to discriminate against anyone or make anyone feel excluded, it's just to make the book easier to read).

Chapter 1

Can sales be learned and what is the secret to greater success in the real estate business?

Yes, sales can be learned, but in part only to a limited extent.

None of us is born a salesman. In our development, we have the choice in which professional direction we want to orient ourselves and what we want to make of our later life. Everyone is the architect of his own fortune, so the saying goes. Provided, that is, that parents do not steer their children onto a certain path and that they can thus develop freely.

It would be nice if these opportunities were equally available to everyone in the world. But in developing countries, due to a weak economy, the resulting poverty and famine, this is sadly not the case.

Let's get back to the in-depth topic. For the time being, let's keep in mind that even the best salespeople had to learn their trade from scratch. As the saying goes, no master has ever fallen from the sky.

In order to be successful in sales, talent must basically be present, coupled with the right mindset, a sophisticated and well-groomed appearance, and virtues that we have acquired through a sensible upbringing and our environment. More about that later.

Selling over the phone, for example, is easy to learn, although it is not only a matter of persuasive words and good objection handling.

It's not about optics, like in our business, because if someone has such a horrible voice on the phone that makes you want to throw up, they hang up as soon as possible, right?

Who does not know these unpleasant advertising calls! Best of all, the call comes from a call center with disturbing background noise. How are you going to convince your counterpart to buy a product from you? In telephone sales, it's all about the tone of voice and the right tone of voice. Of course, you have to follow a well thought-out guideline and have the right arguments ready in case of objections. That's clear, but it's not enough.

You should also stand behind your product one hundred percent and be convinced of it in order to convince others of it as well, because only those who are on fire themselves can also ignite others.

If you have this, selling on the phone and the success that goes with it can be learned. Because ifyou not only have clout, by which I mean competence, and the right arguments, but also a certain punch, i.e. stamina and ambition, then you are a weapon and your own money printing machine.

By now, you're probably wondering where I get off talking about telesales.

What was I selling on the phone anyway?

I have always sold my person first, starting with the greeting with a correct tone of voice and the right duct, because even on the phone the first impression is decisive for the war.

Be it cold calling or initial contact with a buy lead (inquiry).

"Cold callings" I have made just in my first year as a real estate salesman in Mallorca with then crisp 25 years to enough. At that time, I must have called over 200 clients from the existing database. With only moderate success. Only this was a sideline to the other activities of a real estate agent in Mallorca. Nevertheless, I took it seriously and picked up the phone.

Cold calling is like a toothache, no one is up for it, especially when it involves clients who were added to the database five to ten years ago and can therefore most likely only faintly remember the name of "your" company. This has often been the case with me.

In some cases I needed a really thick skin, because one or the other time the prospective client called me and insulted me in a way that made me think. So I first had to acquire the thick skin.

Were the negative reactions due to me? No! I simply had to adjust my mindset.

Maybe the man or woman on the other end of the line has just stepped in dog poop with new shoes, or maybe he or she had a flat tire on the way to work, or maybe the house is in a bad way, or, or, or.

There are an infinite number of contingencies.

You must never take these reactions personally, because you do not know what is going on with your counterpart in his private or business life, or what is not going on.

It even happened to me occasionally that the person I was trying to call had unfortunately already passed away. That was particularly unpleasant for me.

It was really tedious, but eventually I figured that yes, there is a reason that these "prospective buyers" are in the database.

I wanted to do something good for the clients, because maybe they haven't found what they are looking for yet, so I can support them in their search, I thought to myself from a certain point on.

So get on the phone and call!

Of course, I also had a guide, which looked something like this:

Hello Mr. X, Oliver Steinmetz from company Y.

I don't want to take up a lot of your time and I'll get right to the point, okay?

Client: Ok (most common response to the above question).

You are listed in our database as a prospective buyer for a property in Mallorca, which is why I would like to ask you if you have already found what you are looking for?

If the client denies this:

Since you are still looking for a suitable vacation home in Mallorca, I would be very happy if I can support you so that we can find your dream property together! Does that sound good for you?

If the client answers in the affirmative:

Mr. X, Let's exchange views on this in another phone call.

It is important for me to know exactly what you have in mind so that I can select suitable offers for you. When is the best time to reach you by phone, in the morning or in the afternoon?

And I have already scheduled the client.

That sounds like something out of a picture book, you're thinking to yourself. Yes, that's true, but unfortunately it wasn't the norm. But it did happen that I was able to reactivate clients in this or similar ways.

Small tip, big effect:

What is a person's favorite thing to hear? His or her own name. Always include the client's name in your questions. Make sure, however, that you keep to the right proportions, otherwise it will come across as unserious in the conversation.

I have argued in this way or something similar.

Despite the many no's, I never gave up, but always kept going. Although it was really frustrating at times!

At some point my mindset just changed so that I saw all the no's as something positive.

Maybe you are wondering what can be positive about saying no?

It's simple: If you look at the "commitment statistics", every no brings you one step closer to theYES.

And so it should be:

It was 2012 and at some point, after what felt like countless phone calls, I was able to reactivate, schedule and finalize a serious prospect on the spot.

With this client I was lucky, because the lady was specifically looking for a property in Bendinat, a very popular residential area in thesouthwest of the island, and I had a suitable offer for her at the same time. The timing was perfect!

What all can be possible by a phone call, if it works once with us in the cold call,I thought then after the notarization.

The property she purchased was a very nice apartment in a desirable apartment complex.

The apartment was purchased at a time when prices had not yet skyrocketed as they do now. But the commission still tasted good!

Was it pure luck, or was it meant to be?

I think that this has been a reward for my persistence and ambition, and it has shown me once again that something must be done before we fail to do it!

Cold calling is a no job, but if we get a yes, there's financial compensation for all the rejections, insults and all the feigned interest from clients supposedly interested in buying.

So, if it works out, it's profitable, and it's very possible that there are also "cold" prospects in "your" real estate company's database that can be reactivated.

Especially at the beginning of your professional career in Mallorca, I recommend that you pick up the phone. Of course, after consulting with your supervisor. It's good for you and your career, you learn an incredible amount, and you can only win with the right ambition!

My Tip:

When you make a call, always try to smile. This will carry over to your voice and have a positive effect on the client. It's like walking through town in a good mood and looking at people with a smile. You get that positive vibe right back, and people automatically react to you in a much friendlier way, even though you don't even know these people around you. People mirror each other, which is due to the so-called mirror neurons. Good moods are therefore transferable. And it's the same the other way around, because you attract what you radiate. Only those who are happy themselves will make other people happy too!

Let's now move on to the pleasant part of our job: the initial contact with the prospective buyer who has made a specific inquiry about a property.

First of all, it is important to note that direct real estate sales do not work over the phone. Sure, you can describe the property, list the advantages and make the product palatable to the client. But a definitive purchase decision is usually made by the client physically on site. That's logical, because in our industry we're talking about high to very high investment sums.

What do you do once you receive an inquiry? Do you call the client or do you write an email first?

Basically:

Whether you're calling or emailing the client, try to always leave out negatives and display positive sales language.

First and foremost I recommend that you Google the client, find out something about them and then call them directly. Depending on the time, of course, but the fact is, be quick!

You have to look at it this way: We realtors in Mallorca are like a plague.

There are real estate sellers on Mallorca like sand by the sea, and you are not the only one to whom the prospective buyer inquires. That's a fact.

So what is decisive for the war? The speed!

You don't have to care whether it's already evening and you might prefer to enjoy your after-work beer, or whether it's the weekend. You have to react immediately.

This was a seriousaspect of success for me , which I later preached and inculcated over and over again into the employees as office manager.

My expectation was always that the client had to be contacted within a maximum of two hours of receiving the request.No matter what may have been. Otherwise, the client went to another employee or I processed it myself.

Sure, if a request was received at 03:00 in the morning, it wasn't, but at moderate times of the day it definitely was.

Why so badass?

It's simple, because we don't have a nine-to-five job!

If you can't handle that attitude, you're better off working at the post office or in a government agency.

Thanks to the invention of the cell phone, we always have our "office" with us, so you should be able to work from anywhere. Whether you're at lunch, in the car, exercising at the gym, or lying in bed. You can always handle a request with ease. It all depends on your mindset!

Suppose a potential real estate buyer is sitting in Germany in pouring rain and freezing temperatures. At this moment, the gentleman or lady would like nothing more than to purchase a beautiful property on the sunny island of Mallorca, for example.

So what happens:

The interested party looks at the websites of different brokerage firms and makes his inquiries.

Since there are very rarely sole orders and most real estate companies have a fairly identical portfolio, the prospective buyer is sent suitable offers as quickly as possible by a competent broker who has the initial contact with the buyer, which are also in "your" portfolio for sale.

Now let's imagine the following scenario:

You receive a request on Friday evening at 9 p.m. and you think to yourself:Oh, not now, it's already the weekend and I've had a stressful week. I have to come down first and get in touch sometime on Saturday, or Sunday when it suits me.

Congratulations, sleepyhead, you just fucked up real good!

The client certainly won't wait for you, and if you don't respond in time, he'll be gone and "doctored" by another broker.

A motivated seller emailed the prospect promptly after receiving the inquiry, inquired about the search profile, sent out offers, and already scheduled viewings over the weekend you rested.

He will show the client exactly the properties you could have offered and he will sell, not you!

Annoying, isn't it! It's your own fault, because the only thing you locked on your quiet weekend was your front door when you left for the office on Monday morning. Think about it.

I also have a very good example from my practice:

At the end of 2015, I worked as a salesman for the same company in Portals Nous before my office manager position in Santa Ponsa.