One of my most popular and well-attended seminars is the title of this article. Frankly, it applies to loan originators, real estate agents and most anyone who has recently acquired a license in a particular discipline.
Just about every licensing course (including the licensing requirements for loan originators and/or real estate agents) will deal with the complexities of how to function legally, give you a little knowledge about historical information (I guess so you can converse with folks less knowledgeable and give the impression you're well-versed in your new profession) and generally apprise the student about the industry and consumer protections.
These licensing entities are not concerned with a licensee's profitability or ability to make money. As we say down South, "that's not their job!" The newly licensed have a great deal to learn if they are to pass the licensing exam; we can't expect them to also acquire the necessary sales skills to earn a living. But you see, of all the angst and knowledge required to get the license, selling is something these students think is the least of their problem. Give them a license and the rest will fall into place.
What’s a licensee to do? Well, many companies who hire (or allow a licensee to "hang" their license with an office) will provide some level of training. Training can come in various formats, but without a good sales training program earning a living can be quite challenging for the new licensee. Interestingly, some companies will assign a mentor to work with the licensee, and for the privilege, the licensee will share a part of monies earned with the mentor. Unfortunately, this often results in more problems than anticipated. Most (if not all) mentors have no formal training in mentoring they've just been doing the job or discipline longer than the newly licensed.
Invariably, the trainee is going to develop some of the same bad habits as the mentor (luckily, not always). There is no substitute for formal sales training. More importantly, sales training from a competent (please, no more emails from irate trainers) sales trainer is the prerequisite to accomplish effectivetraining.
My training begins with three simple concepts about the trainee's new profession. First, you need to find someone interested in your service or product. Next, convince them that you are the one that can accomplish their requirements. And finally, ensure that the transaction closes and funds.
Wow, that's quite simple and easy or so it would appear. Usually, too much emphasis is placed on the first section of these three concepts; Find someone interested in your product or service.
Also referred to as lead generation or sourcing business, without sales skills this exercise will invariably result in a degree of disappointment. Listening skills, effective probing for information and ingratiating oneself as the person with whom to work with are just a few of the sales disciplines required to be effective. Presentation skills, brevity, closing techniques and many other basic sales concepts should also be practiced.
On a closing note, most managers/principals that hire me to train the newly licensed will also suggest that their more experienced associates attend these training sessions. Interestingly, most experienced attendees will come up to me afterward and ask about continuing training/coaching. The newly licensed still have little clue as to what they don't know, but the experienced salesperson will see the light once the switch is turned on.
Stephen Greenberg is the founder and chief executive officer of Synergistic Associates Inc., a national sales training and coaching organization. For a free consultation, or any questions, Steve can be contacted by email at steveg@synergisticassoc.com or by phone at 954-757-6585.
