So which is appropriate for a REALTOR®?
As a Stock Broker trained on Wall St., specifically 90 Broad St, I was groomed in the buy or die philosophy of the hard sell. You keep closing the prospect until they open an account and buy stock, or hang up the phone. this is the tried and true Straightline Pitch taught in every brokerage house/Investment Bank in the High net worth individuals division. And as you can tell Brokers make fortunes despite the fact that the High net worth Individual that is targeted knows the script as well as, if not better than, the Broker pitching him the stock. As a result many objections are expected prior to a sale. In fact most brokers will not submit a purchase order if there were not atleast 5 objections before caving in. You are proving yourself worth an initial $50-100k by thinking on your feet, dealing with varying objections while staying on track with the pitch, all the while presenting a worthwhile investment.
500 cold calls per day, minimum or you are fired
50 contacts out of that 500 calls (hardest part of the job is getting past the secretary, or as we called the good ones: The Gate Keepers
10 leads out of those 50 contacts
and than 1 account opened out of those 10 leads
10 accounts to get one who will trade with you
10 traders to find one Whale
10 Whales to make big commissions off of.
That is the Wall St Numbers Game and it has been successful for decades. And it is done 14 hours a day 5 days per week.
Than you have the Soft Sell. I worked for a spell at a company that sold Magazines to benefit Charities like MADD or Childrens Hospitals, etc… You introduce youself and the reason for the call, and ask them if they would be interested in buying a magazine subscription to a magazine they already enjoy, and as a result a piece goes to the charity of the hour (it changed based on time of day, state called, or quotas) But No thank you means No Thank you. Thank you for your time & have a great day was how most calls ended. But employing the numbers game described above once again does yield results. And it did not take me long to realize I was never going to compete with the ‘Top Producers’ because they were women. Some very old, some very young, but very warm gentle soothing voices presenting an idea instead of a sale. Now this was only a weighstation while I figured out my next move after Relocating to Florida. See it turns out a Clean Series 7/63 license & 3 years experience did not seem to matter much to the Majors here in Tampa without at least a 4 year degree.
So I flipped houses for a few years, which really sucked. You see, I have never been that big on manual labor, and after a car accident in ’96 it was out of the question. So for the first time in my life I decided to do manual labor in 90*+ with 90%+ humidity. It did not take long for the thrill of house flipping to burn out so that is when I looked to be a REALTOR®
But it is so much different from all my previous sales jobs, and that appealed to me. Because I quickly learned it is not really about selling. it is about providing accurate information so a person/couple can make a sound decision. Showing houses, pointing out the positives and the negatives, but more importantly , putting them in perspective. Which is why my slogan became “Turning Clients into Friends, by Turning Dreams into Reality.”
Now I must admit the buy or die training does come in handy on the Listing side, but in a much more gentle fashion. Because of it, I almost always get atleast 6% if not 7% on every listing. but that is for another blog.
So the answer to the Original post is: Neither, in my humble opinion. I could argue that the hard sell does come into play, just a smidgeon, on listings, but it occurs so rarely, I will not include it. However it does come in very handy when dealing with sub-par agents. Fortunately, I have not had to endure too many of those. And with our Associatins reporting about 1/2 of REALTOR® failed to renew over the past 2 years, I anticipate even less, atleast until the next bull market in Real Estate, which is a long way off.
Serve your clients needs to the best of your abilities, the Commissions will take care of themselves in the long run