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Category: Sales Managers (page 1 of 2)

Exclusive: 7 Steps to Build a Top-Level Commercial Real Estate Sales Team

Whether you are an established real estate agent or venturing out into the field, a commercial real estate sales team is required in order to be successful. Being aware of the key steps that will assemble the right team will help your brokerage stand out from the crowd and competitors.

This will also drive customers to a swift decision and enable you to maximize your profit potential. Here are 7 steps to building a top-level commercial real estate sales team:

  1. Research what makes a successful sales team

The best way to learn about team building is doing  research. Consult internet resources, other firms , and get suggestions from within your sales team itself. Your group of agents  should always have similar goals and core values in order to work effectively together. Team building will improve internal communication and foster teamwork. Once the right sales team is assembled, team building should be put into effect.

  1. Interview and ask the right questions during the hiring process

In commercial real estate, the hiring process should be taken seriously, as it could make or break your brokerage. Asking relevant questions during the interview process will help you find skilled, top-notch brokers who best qualify for your firm. Ask questions to identify how they worked to achieve goals in the past and how they will fit into your sales quota.

  1. Don’t be afraid to make difficult firing decisions

In your process of building a successful commercial real estate sales team, it is important to hire the best agents  for the job. However, should any issues arise, do not be afraid to replace a failing associate. Managing a sales team may be hard, but managing an awful  sales team is even harder. Do not be dependent on personal relationships, and always make the best professional decision for the agency.

  1. Use up-to-date and innovative  technology tools to help your team succeed

Brokerages with the best tools have a higher success rate, and your team of brokers  should evolve with changing time and technology. Take control of the tools that you are using in your business by learning what is working and what should be adopted by your team. With the right tech tools, your commercial real estate team will have the ability to easily stay on top of their clients, prospect more effectively, and close more deals.

  1. Hold your team accountable by recording metrics

When it comes to accountability, it is very important to stay on top of each deal and keep track all relevant metrics.This will remind each of your team members of their individual targets and team goals that should be achieved. After all, accountability also breeds responsibility. Focus on goals that are attainable and create metrics that will give the desired results.

  1. Effective communication is key!

The overall success or failure of a commercial real estate sales team hinges on how effectively it communicates. This can be done through regular meetings, performance reviews, written checklists, and procedures. Communication is crucial for ensuring the success of the entire team.

  1. Continuously train your team

Always provide your sales team with endless amounts of education and resources. This will ensure that the team properly reinforces their selling strategy until it’s close to perfect. By doing this, you’ll build a top-quality team of brokers.

With these 7 steps, you can build your commercial real estate dream team and establish a successful brokerage.

Data-Entry is Killing Your Sales Team’s CRM Implementation

Forrester Research says that a lack of user adoption is the reason behind 70% of CRM projects that fail. The Merkle Group, Inc. found that 65% of CRMs fail according to the executives whom they surveyed. It is no wonder that there can be a lack of adoption and a reluctance to launch CRM initiatives. Why would you try a new CRM implementation for your sales team if there is a high chance that they won’t use it effectively?

Consider the main reasons that CRM implementation fails, and you will be able to decide on a CRM system that is adopted successfully by your sales associates.

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Exclusive: How Many Hours Does Your Sales Team Waste Every Month?

How much time and effort is your sales team wasting each and every day?

On average, a team of 50 sales reps leaves 1,277 hours of voicemail every month. That comes out to around 15% of each salesperson’s time being spent simply leaving voicemails for prospects with an average response rate of only 4.8%.

There is one surefire way to get your sales team to exceed their sales goals and have a sales strategy in place that works:

Follow-ups! It seems simple and obvious, but are all of your sales reps doing it?

44% of the sales force only calls a prospect once and then gives up. Only 10% of all salespeople make 5 or more contacts with the same prospect. The reality is that 80% of all sales occur between the 5th and 12th contact with a prospect. This means your sales team could be making a lot more sales if they use these stats to their advantage.

Check out this video from Digsy AI’s CEO and Co-founder, Andrew Bermudez, about how following up with prospects can improve a salesperson’s sales performance by 40 times!

Follow-ups don’t have to be voicemails, however. They could be an email or even a text message. Just be sure time isn’t being wasted on voicemails and those voicemails are being leveraged as one of 5 to 12 contacts with a prospect to get the sale.


Here are a few articles to show your sales team the importance of following up with their prospects, and tips on how to beat their goals:

CRE Sales Strategy: Boost your Close Rate in 5 Minutes

Increase Voicemail Response Rates with Email – 5 tools to find any email address

6 Cold Calling Tips to Successfully Close More Deals!


Data:

  • If your team has 50 sales reps, their average monthly voicemails will total 1,277 hours. [Source: RingDNA]
  • 15% of every sales reps’ time simply leaving voicemails.   [Source: RingLead]
  • The average voicemail response rate is 4.8%.   [Source: InsideSales]
  • After one follow-up phone call, 44% of sales people give up. [Source: Scripted]
  • Five follow-up phone calls are required after meeting in 80% of sales. [Source: The Marketing Donut]

Exclusive: Your Sales Team Will Exceed Their Goals with These 4 Simple Techniques

Sales techniques used by top sales professionals, no matter what industry, are not very different.

The most important part of being successful in sales is having a full understanding of the products or services you offer. It’s also critical to maintain this knowledge as your industry changes and grows.

You should also have a solid understanding of the industry you are selling in. Once you have mastered your business enough to be able to come up with unique and awesome solutions for your customers, you can incorporate these four techniques that top sales professionals use.

You will see an increase in your sales with every technique you add to your sales strategy.

Use Social Media to turn Cold Prospects into Warm Leads

207 million people in the United States use social media sites, so of course, it should be an integral part of your marketing and sales strategy. Besides just posting to social media so prospective buyers can find you, you should also be actively searching for those leads who are already searching for your products or services. In order to turn cold prospects you’ve found into warm leads, you can engage with them. Answer prospect’s questions and post useful information in your field to build trust and make sure they think of you when they decide they need your product or service.

Follow-up, follow-up, follow-up

Follow-ups are extremely important given the fact that over 80% of all sales are made between the 5th and 12th contact with a prospect. Because to follow-up with prospects is hard work, only 10% of all salespeople achieve to touch them over 5 or more contacts. Don’t give up!

Call Them First

A difference of a few minutes can make or break a deal with your new client. Chances are, they’re on the phone with some other brokers right now, while you’re thinking about calling them back. On the same note, a Lead Response Management study shows that calling your lead within 5 minutes vs. 30 minutes boosts your chances of contacting them by a hundred times. The odds of qualifying the lead within this time frame drops 21 times. From there, the likelihood of making a contact on that lead drops astronomically.

Be Straightforward

Presenting your product or service to your lead immediately will make a huge difference. Keep your focus on the problem you are solving for the client with your product or service and why they should buy from you.


Digsy AI Introduces Native Email Sync, Contact Importing & Custom Email Templates

Sales Productivity Software Provider Releases Power Features to Help Close More Deals

Fullerton, California: Digsy AI, the sales productivity software platform for CRE & B2B sales teams has launched three new features to help agents and sales reps automate their workflow and convert more prospects into customers. Among its users are agents and sales reps at CBRE, JLL, Colliers International, NAI Capital, Farmers Insurance and Sandler Sales Training.

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Sales Development Representative Average Salary (SDR)

How much is the average sales development representative salary (SDR)? How much should pay for someone to generate and qualify sales leads and help you close deals? An SDR is your cold calling campaign manager to whom you can give duties of developing sales leads. This gives you the time to work on the most important parts of your business, such as closing deals. While pay rates may vary, below is an overview of sales development representative salary and commission ranges, as well as duties which you may expect an SDR to perform. 

What is the Role of a Sales Development Representative (SDR)

A Sales Development Rep (SDR) uses innovative ideas and solid methods of generating leads and ensuring that appointments are made with the salesperson. They can be a key player in helping a company grow by nurturing and developing a sales pipeline. The job duties of an SDR in Commercial Real Estate will likely include:

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7 Sales Apps Every Sales Rep Needs to Use [Video]

Host Andrew Bermudez, CEO and Co-Founder of Digsy AI, explores 7 sales apps that make is easier for salespeople to generate more sales.

Key Takeaways:

  1. Easily book meetings with prospects
  2. Streamline email communication
  3. Easily stay on top of important emails
  4. Easily track & execute to do items
  5. Easily find important documents
  6. Easier internal team communication
  7. Learn how to improve sales on-the-go

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Your SDR Team Should Be Tracking These 4 Metrics

A sales development team needs ways of measuring and tracking customer interactions, particularly when it comes to lead generation and prospect conversion into deals. After all, your sales development team is dedicated to increasing your business and keeping existing customers through advertising methods and the generation of qualified leads. It is vital to a successful campaign to be able to objectively measure which methods consistently work best. This is where metrics come in for your sales development or SDR team.  The four most effective ways of tracking these metrics are discussed below.

Total Amounts of Qualified Leads

This amount is very important, and it helps your company forecast the value of your leads and how well your campaign is working. For instance, after leads are turned over to an account executive or sales rep, pricing is then discussed. At this point, there is usually a monetary value attached to this opportunity. When you have a month’s worth of figures totaling the value of all the deals your team has generated, then you can figure out the total value of your pipeline. It helps you with your conversion rates and in filtering out opportunities that were not a good fit or could not proceed due to budgetary restraints. Problem areas can be discovered at this stage, including areas where demos may be over-booked or leads which are being forwarded that are poorly qualified.  

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The Difference Between a Marketing Assistant and a SDR

If you’re in the commercial real estate industry, you may come across sales and marketing job titles which seem similar but are actually quite different. The more common job titles that CRE brokers experience are Marketing Assistants and Sales Development Rep. While they both share the similar goal of selling a product or a service and generate leads (AKA: generating more clients), their responsibilities are very different.

A person goes through different stages before they become a buyer/client. With each stage, a specific person is responsible for ensuring that the customer goes through the pipeline. Marketing assistants are usually the ones to come first in the sales process. They are responsible for making ads, banners, flyers, and newsletters to help the potential tenant or buyer become aware of your product or service. But what happens most of the time is that the Marketing Assistant spends a lot of time creating marketing materials and flyers to market existing properties. That leaves little time for them to try to drum up new business.

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5 Salesforce Alternatives to Grow Your Sales [2017]

Salesforce.com is considered one of the giants of the CRM software industry and has been providing businesses with sales tools since 1999. It is mostly for medium and large sized businesses, and some of the features of the software include multi-platform compatibility. API and customization are included along with Salesforce reporting and analytics tools. Pricing for Salesforce CRM start around $25 per month for a basic package and go up to $300 per month. Although Salesforce is a leading competitor, there are many CRM alternatives to Salesforce on the market today.

Here are five popular alternatives for your consideration:

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