The following blog post is intended for Sperry Van Ness Commercial Real Estate Advisors® and Managing Directors. It aims to highlight the multiple internal resources available to those within the Sperry Van Ness System that can be utilized to help grow income.
In the Sperry Van Ness Business of Making More Money
You have two routes to make more money:
- You can do more productive work, since more input equals more output.
- You can get better at what you do and earn more by doing the same amount of work.
We talk a lot about doing more, and it is an extremely effective way to grow your income. It’s also something that we can all be doing…
…but it isn’t the only way.
Make More Money by Investing in Yourself
Investing in skills improvement pays real dividends. Learning how to negotiate fees more effectively increases your earnings on every deal without much more work. 10% more up front (by getting 5% instead of 4.5%) and another 5% saved on the back-end by holding firm at the closing table is like doing 7 deals a year instead of 6. (By the way… There’s a video to help you do this – go to the Dashboard, click the S4G button, click “Brokerage Best Practices” and look for “Defending Your Fee.”)
Increasing your hit rates on listings from 50 to 60% adds another deal for every five you do. Need help doing that? Find the videos on “Stuck Listing Analysis” and “Is Your Seller Motivated.” You can also review “The Perfect Proposal” in S4G (since good proposals turn into good packages). And you can come to Boot Camp in San Diego where we have a new session on “Marketing with SVN” to show you a more effective way to get your listings sold.
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Not sure about your negotiating skills? Getting to Yes is still a classic – and still very worth reading. It was a seed change in how everyone thought about negotiations and can help you find true win-win solutions through principled negotiation instead of positional negotiation. We have a video on “Negotiating From Your Best Position,” too.
These are a few examples, but there are many ways in which each of us can sharpen our saws and get better at what we do. If you can’t make it to Boot Camp in San Diego in December, or can’t wait to get to the Annual Conference in San Diego in February, might as well get started now!
Interested in learning how you can access exclusive CRE tools and training to take your business to the next level? Contact us today.