Sell it like serhant Book Summary ,conclusion and my thoughts with pictures and examples
Name of the book: Sell it like Serhant
Author: Ryan Serhant
Download Full Audiobook at Audible
Review - Good Reads
About the Book:
As we all know, real estate is a very difficult business to make deals, because buying a house is a big decision. The odd thing, though, is that top brokers like Ryan can close millions of dollars every day, while the less productive ones can only expect to close a few every month.
If you're building a career in sales, this book has something for you and deserves a place on your bookshelf. This man has got to have some mad selling tactics. Every Chapter of Sell it like serhant explores something new. In his book Sell it like serhant, Ryan explains a variety of methods that are key to his success. These are the summary of some of the most practical and powerful ones I've learned from him.
The Three F’s — How to always have clients knocking on your door:
Ryan believes that the 3 F's; the follow-up, follow-through, and follow-back are the most important steps in business. These are the steps you take to win clients, to keep clients, and to keep them coming back for years to come. He was able to close millions of dollars in sales every single day through this process.
Follow up is a phase where you can reach out to potential customers. Don't ask your clients to email you first.
You've got to reach out to them to search for future prospects. Get in touch with potential clients, go to events, expand your network, and build relationships. Note that transactions are all about partnerships. Your network is your net worth.
A good salesperson is a dedicated follower. Just because you’re ready for your client to buy something doesn’t mean they are. You want to be right there when they are, ready for them.
So, make sure you do the correct amount of follow-up by splitting down the leads into three categories:
HOT: Hot customers are ready to buy something right now. They've got something planned. You 're in touch with them every day. You keep them updated on any new changes or sales. You make it clear that you're working hard for them.
WARM: Warm clients are talking about buying something for themselves. They 're interested to buy but not immediately. You 're in contact with them once a week, keeping them up-to-date on developments and sales.
COLD: Cold clients aren't necessarily trying to buy it, but that doesn't mean you don't follow up. You 're always in touch with a cold customer once or twice a month. If they want to buy something, you 're there for them just like a fairy!
Sales is a kind of art, a process that takes time. Don't try to push sales, because nobody likes to be sold. But the funny thing is, on the other hand, they really enjoy shopping with friends.
When you can make yourself a friend for the customer, they 're going to be happy to buy something from you when the time is right. Checking boxes is for listings, not for sales. Okay, you just can't push it. You 're just going to make them irritated with your actions.
Anyone can follow up by pushing calls and emails, but follow-through is the next level. It's easy: do what you say you are going to do. If you tell them you're going to do some research and get back to him, do it. If you're saying you will respond within twelve hours to their emails, do so. If you make a promise to yourself that you’re going to meet three new people every day, don’t sell yourself short. Do it.
It's a big opportunity to convince clients that you're being committed, that you care for them, and that you trust them. If you want to sell more and create relationships with repeat buyers, follow-up is an easy strategy that can set you apart from anyone else.
It's different from just following up with a client that you're already working with. Following back is staying in touch with former clients or people who haven't hired you, and it's one of the greatest chances that salespeople miss out on.
Treat the existing clients as well as the brand new ones as they may be perhaps more valuable than the new costumers.
Many people underestimate the importance of this move. When done right, the company will be filled with loyal clients for years to come.
Finder, Keeper, and Doer — How you should organize your time:
Each day, you should schedule your time into three separate time slots; finder, keeper, and doer hours. How much time you spend on each of them would have a big effect on the overall productivity of your day and also on your company.
When you wear your Finder hat (it's a strictly metaphorical hat), You 're working to make a new business. You find pitches, work on Sphere of influence, and make decisions on how to manage the business in the future. The Finder is thinking of business as a whole. The Finder needs to expand the company's Rolodex.
During this time, you wear a financial hat and you're thinking about the financial aspects of your company. In the company, cash is the king, and the future of your company depends on it. Knowing how to handle the money in the company is key to keeping things going for a long time.
If you need some good advice on financial planning check out my summary on the book
"Rich dad poor dad" - Read more here
At this time, you 're going to get your hands dirty and do the real work. During this time, you're going to do what you've prepared for yourself in the finder hour. You 're going to do the stuff you need to do, and get the job done. At the beginning of your career, much of your time will be spent at the doer hour, because you need to get the much hard work done by yourself.
As you grow older and older, you hire more people to take care of some of the work you do, while doing what adds the most value to your business, attracting new clients and negotiating deals.
The Four Tenets of Work
Whenever you feel frustrated or like things are not going right, you appear to get angry at yourself. You feel like throwing yourself in the towel, particularly when the deals don't go through. Ryan, however, has set up a special program to prevent these incidents from happening. The Four Tenets of Work
Tenet #1: The Why
Why are you doing what you’re doing today? What drives you to wake up every single morning, and to keep you going whenever times get tough? Is your Why big enough and powerful enough to sustain you on those days when life is pushing back at you?
If your answer is money its not enough answer. Stretch your answer beyond the obvious—it’s a fact that humans need money to live.
Tenet #2 — The Will
What are you doing all this stuff for? Why are you doing the job you do, and how do you find opportunities to love what you do? Breakdown what you’d need to do to be the best salesperson ever. What can you start doing, right now—this very second—to push your career to new heights?
Tenet #3 — The Wall
What are you running out of? What's your greatest fear that you want to get as far away as you can from?
Tenet #4 — The Win
A Win is a legacy you leave behind. And your Win doesn’t have to be as big as “change the world”—but it needs to be real, it needs to change you,and it needs to be something you really want
The 7 Stages of Grief — Every customer goes through this cycle
In sales, it is necessary to recognize the seven stages of grief in order to completely leverage the ability to conclude a deal with people. If you don't understand them, you 're just going to make them tick off and potentially lose a deal.
It is also important to grasp the 7 stages of Grief Sale to help the deals go through as expected.
Stage 1: Excitement
- At the point of anticipation, the buyer focuses on all the good aspects ofThe product — and how it is going to change their lives for the better.They 're falling in love
- Signs that they are in the excitement stage include comments like "I" Love this one," "Oh, my Goodness, I'm so glad I 'm having this one, The best day of my life. "Fist pumps. Tears of happiness.
Stage 2: Frustration
- At the frustration point, the buyer focuses on the negatives; Suddenly, they see everything that's wrong with the product.They didn't pull out of the deal, but they were irritated. This one, the step may also be referred to as the blame step because most buyers start to blame other people (most of the time its salesmen) for theirfrustration
- Common symptoms of this phase are incessant emails and phone calls, and a very anxious tone of voice.
Stage 3: Fear
- At the point of anxiety, the buyer starts to feel unsure of what he has taken on. "Can I take care of this? "Did I spend too much? "Do I really need it? "They are consciously questioning their decision to buy.
- Signs that you're at the stage of fear include: furious, incessant phone calls, and texts; emails in the middle of the night containing several exclamations; Points; swearing; yelling; more tears — but now the kind of sad and angry.
Stage 4: Disappointment
- They finally get the product, and by then, as usual, doesn’t live up to their sky-high expectations. Rarely does a product fully satisfy a hungry customer. They look at all the bad parts of the product, but they are disappointed.
- Signs that you're in the disappointment stage include: the client feeling guilt and shame, forgetting that this apartment/car/wedding dress, etc., was the one that made them feel all tingly inside, ignoring your text and emails.
Stage Five: Acceptance
- In this process, they 're beginning to realize that the deal has gone through, and it's too late to get back. They can't do anything about it right now, so they decide to embrace their feelings and look at the better parts of the product.
- Signs that you're in the acceptance phase include happy spouses and children in pop-up office visits, thank-you notes or gifts, peace, quiet, and peace of mind.
Stage 6: Happiness
- This is when all the good memories begin to come back. In this phase, they remember why they first bought the product in the first phase. They 're pleased with their purchase, and they're just excited they finally got it.
- It is best to ask for referrals in this phase, as they are most likely to give it to you.
Stage 7: Relief
- This process, the deal has been concluded, and they are relieved that it's over. They can go home and completely enjoy their creation, and you've made yourself a nice piece of money.
- Signs that you're on the relief stage include bragging, boasting, "It's such a good thing that I bought when I did," "I can't believe the guy paid more than I did! What a sucker, man!
Conclusion and Review
Overall, this was a great book, and I've learned a lot from reading it. I highly recommend this book to someone who wants to be better off selling it to others.