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The Estate Agency Business’s Promotion mix for Personal Selling
By arlene | July 3, 2008
Personal selling by a salesperson is one of the main ingredients of the estate agency business’s promotion mix for selling its own services and for selling properties. There are many reasons why the salesperson is important. Consider the following:
- In many cases the salesperson has to persuade potential clients actively before the firm can obtain mandates.
- Immovable property, almost without exception, has to be shown to the prospective buyer before he will consider buying it.
- The attributes of a property have to be carefully matched with the needs and
wants of a buyer or tenant. Only the salesperson can do buyer qualification. - Personal selling, in contrast to the mass appeal of advertising and publicity or even sales promotion, relies on face-to-face communication. Personal selling is more flexible and adaptable than the other promotion tools.
- The salesperson can adapt and tailor his presentation to the needs, wants, motives and behaviour patterns of individual clients, be they buyers or sellers.
- Wasted promotion effort is minimized through personal selling. In advertising considerable waste occurs in that the message is sent to many people who are not really prospects. The salesperson can focus his attention on target market customers and do so much more efficiently than can be done with any of the other promotion tools.
- Through advertising it is possible to attract attention, hold interest, arouse desire and motivate a prospect to telephone you or to visit a show house. However, without the physical involvement of a salesperson, it will not be possible to conclude a sales or lease transaction.
- Although not strictly part of the sales task, salespeople fulfil extremely important functions for management. These include reporting back on the efficiency of advertising, on customer attitudes and buyer needs.
The expertise and efficiency of the firm are reflected by its salespeople. Client impressions of the estate agency business and the services it renders are often impressions formed through contact with a single salesperson. Consequently, there is a great deal of stress on the salesperson. He has to have physical stamina, mental endurance and drive rarely called for in other jobs. In addition, the sales task of the estate agent, though essentially white-collar in nature and though having the potential to provide a relatively high income, often lacks social prestige and status. This is partly due to the fact that, until fairly recently, no formal education for estate agents was required. The salesperson often also lacks power and authority in the job. For example, although he is an independent contractor he is subordinate to a principal. Also he deals with clients whom he has to persuade.
The emotional stress to which the salesperson is subjected is substantial. He has to come to grips with reality in situations where there is no room for excuses. Sales work tends to reduce relationships between people to tests of power: Can I convince you to buy or not? In sales work there is always the possibility of failure and rejection, and a feeling of personal inadequacy. Selling is very hard work.
The roles of the salesperson in promoting his services and those of his firm, and in marketing residential and nonresidential properties.
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Topics: Contract, Job, Market, Property, Residential, Sale |
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