How to Ride the Sales Roller Coaster

Working in Sales is like riding a roller coaster.  In this  episode  discuss how you build your resilience muscle so that you can easily deal with the highs and low's.

Some of the tips we go through include:-

* Never celebrate a deal until the money is in the bank!
* Work in a supportive environment - avoid the 'Churn & Burn' CRE Agencies
* Always have multiple plates spinning.
* Never down tools once a deal is done!

Visit my website milliondollaragent.live and download the Blog ' The Snowball Effect'.

**If you would like some free consultation time to do a health check on your career  -  Book via the website now - click on Mentorship and Consultation at the top of the page.

Q & A time -  I will be doing a Podcast to answer any of your questions so email me
Contact me via email sandra@milliondollaragent.info 

Transcript

Do you want to make a million in commission every year? Do you want know some habits, some tricks and some tools to set yourself apart from all of the other agents in your industry so that you are consistently making more money than you've ever dreamed of, regardless of where you are in the world. This is the podcast for.

Hey, Hey, million dollar agents. It's Sandra. Again, welcome to episode 12. In this episode, I'm going to teach you how to build resilience. When it comes to riding the sales roller coaster. Now sales has its ups and downs, and clearly the ups are easy to manage and you probably don't need a lot of help with those, but when it comes to the downs, if you're not prepared for these, they can be career destroying because they really knock the wind out of your sails and make it hard to keep your mojo up.

Keep on track and actually want work in this industry and don't get me wrong. Working in sales is a lot of fun, but it's the easiest of the easy work and the hardest of the hard work. And you've heard me say this before. If you've listened to any of my other episodes and this it's a fun industry to work in, you have fabulous days, but it seriously is a roller coaster.

There are ups and downs, and if you can't deal with that, then you need to get out of the industry. If you think it's gonna be all smooth, smooth sailing, you are seriously wrong, my friend, but there are lots of things you can do. And lots of strategies that you can implement to navigate around those days that you just think, wow, that deal fell over.

And I never saw it. Now I hate to say this, but some agencies get their young sales people in and they do what we call the churn and burn. They're taught the basic fundamentals of the sales process by the principal or whoever's training the agent. They send them out into the workforce and. They go on a listing mission where they get as much stock as they can as many clients as they can, but they're not taught how to deal with the rollercoaster ride.

They're not taught any resilience as to how to manage themselves when things go wrong and things go wrong all the time. So I'm gonna teach you what you need to do to build that resilience up, to ride the roller. So they call it churn and burn because they bring them in, they churn them through the system, they burn them out and then they get rid of them.

But in the process, they've obtained new clients and new listings via that agent, but they really don't care how the agent recovers from the ups and the downs. If you feel like you're in that type of environment, run for your life, you don't want be in a churn and burn environment. You want be in a nurturing environment where your principal actually cares about your state of mind and dealing with this industry.

And I've said this before, it's not for the faint hearted. And so you need to be particularly if you're a young agent in an environment where if you're having trouble coping, that you can go to the principal and say, listen, this, you. Help me through this. This is a struggle. So the podcast today should help you out.

I want teach you some skills and some strategies that you can implement to really make it easy to ride the roller coaster, make it fun, make it like a roller coaster should be rather than be a terrifying ride that it could be. Okay. So what's the first thing we do when we've done a deal. And we've negotiated the deal and everybody's agreed on terms.

And, you know, we might, you might even be at the stage where there's a contract in place and you're thinking, wow, this is great. The deal is done. Don't count your chickens before they hatch. And what I mean is, do not celebrate a deal until the money is in the bank, whether that's in the trust account for the business, whether you've been paid for it, or however you're structured, do not celebrate a deal until it's settled.

So this could be a lease deal where the keys have been handed over and the. Commissions have been paid over to your office or to yourself, depending on how you're structured again, it could be a sales deal. So this is settlement letters have come through from the solicitor from both sides of the fence.

And it's a done deal. That is when you celebrate the deal because. Anything could happen up until that point. For example, a funder could pull out at the last minute and the settlement may not go through on the sale of a property or a tenant might have something happen in the family and they just can't actually proceed with leasing a premises and the landlord could let them off the hook.

Anything could happen. Until the settlement letters have come through from the solicitor or the keys have been handed over and you know, the deal's done and the money has transferred. The commission on the invoice has transferred, do not celebrate that deal because deals fall over all the time. Even unconditional deals fall over my very first.

Big deal I ever did was a $3 million contract on a block of land in Brisbane. Now it was just an industrial block of land, somewhere in the port. I'm not gonna say where. And there were two of us working against each other in the same office to get the deal done. I had a buyer. The other agent had a buyer.

My buyer went in unconditional cash contract and I pipped the other agent at the post. Now this buyer did all the right things said all the right things signed the contract, but never paid the deposit. So here's me spending my commissions on a sale thinking I'd done a wonderful job cash, unconditional 3 million biggest deal I'd ever done in my twenties.

I thought I was just flying high, taking over the world. They never paid the deposit. The contract was null and void. So the deal never proceeded any further than the contract signing. I'd already spent the. Anyway, that's a lesson in life. The other thing is I've heard a story and this is kind of legend in commercial real estate about an agent that was in a pub on a Friday night bragging.

Actually it might have been a Friday lunchtime just for a heads up commercial real estate agents are notorious for having a long lunch on a Friday with their clients. Big Boozy long lunch. I don't drink alcohol. I think I've told you that  before, and I get a lot of stuff done on a Friday afternoon, and it's usually because the solicitors are there trying to do settlements.

And if anything goes, pear shaped, I'm there. But another story. So this, this agent,  say he was having lunch on a Friday afternoon in a pub and. Was bragging to a big table of his colleagues about how he's done this deal, yada, yada ya. But he hadn't had the contract signed. One of the agents in the pub hears about the story.

He's about the deal. He's about the price and goes in and undercuts him while he's sitting there drinking with his mates. This other agent has gone and sealed the deal and done the deal. So come Monday morning, Mr. Agent, who thought he had the deal done has missed. So that's, that's a typical example of celebrating way too early.

Don't celebrate until the money is in the bank golden rule, you will build your resistance muscle a lot faster. If you only celebrate the deals that have happened, the ones that have settled the commissions in the bank, don't count your chickens before they have rule. Number two is when you have done a deal.

You know, the contract is signed and you've done pretty much everything you have to do. Don't down tools. Now I've spoken about this. Episode three with the formula for success. Don't when you do a deal, do not down tools, keep going. You want get as many deals under your belt as you can, so you don't want get complacent and relax once the deal's done, you don't want be just relying on one deal a month.

And I say this, there is a formula to doing one deal a month. Aim higher. You want be trying to get two, three deals a month. You want keep going? Just keep going and don't stop. The reason for this is you want have so many plates spinning that when one plate falls down. It doesn't matter. So you have a deal fall over big deal.

You've got three other plates spinning that you can focus on. Let that plate fall and just take it in your stride. Just keep going. It doesn't matter. You know, you might have the biggest deal you're working on fall over, but you know what, who cares deals are like buses. They come along every 20 minutes.

So you need to pull yourself together and keep moving on. You'll pick up another. Opportunities are everywhere. It all comes down to the snowball effect as well. You want keep the momentum going? So if you down tools, you are gonna take your hands off that snowball and it's gonna lose momentum. Now I do a whole thing on the snowball effect.

In episode three, there's also a blog about the snowball effect on my webpage, which is million dollar agent dot.live now you don't want be an agent that has only one deal because when that deal falls over, the wind is going to be completely knocked out of your sails and you are going to feel disheartened, disgruntled, and you're going to start to hate the industry.

Nothing SAPs energy, more than disappointment. It's really important that you set yourself up. So you don't feel that disappointment. So you're shielded from it because you've created a bubble of opportunities around you and who cares something falls over, brush it off and keep going. The other thing is when you're desperate, if something falls over and then you haven't got anything going on, when you go to an inspection or you go to a meeting, you are going to smell desperate and you'll have what I call commission breath.

And this is where people can smell the desperation on your breath. And. It just repels the client. They don't want deal with you because they don't believe your agenda is in the right place. And what, what does this look like? It means that they think you are selling the property for yourself.

Whereas as commercial agents, our job is to solve problems for our clients. So if you have commission breath, they think the agenda is for yourself and not to solve their problems. So you really want avoid that. I go into my inspections, lighthearted. With an attitude, take it or leave it. I don't care because another buyer will come along.

So, you know, if you like it, GREAT, let's do a deal. Fantastic. And they can smell that and they think, wow, she's so relaxed that this must be an easy property to sell. I better move my hands cuz I'm gonna miss it. And the truth of the matter is it's so easy to be that relaxed and that flippant when you have a lot of plates spinning.

So that is. Crucial that you do that make sure that you have those plates spinning, because then when you walk in, you just. Adding another plate and it doesn't matter, does it, if it doesn't happen, it doesn't happen if it does. Fabulous. Okay. So another great thing you can do to keep your resilience up and handle the roller coaster is to go back to the beginning and listen to episode one of my podcast, which is all about you.

If you are feeling good, if you're feeling well, if you're fit and healthy and you're looking after yourself, you're taking your vitamins. Your stress levels are gonna be easily managed. And when you do have a deal fall over, it's gonna be way easier for you to manage it. You also want be happy in other aspects of your life.

So you want have. A bit of work life balance, make sure you're working on your relationships, make sure you're working and having some downtime so that if things do go wrong and deals do fall over, it's not the end of the world. You need a good support network around you. You need a good principal who's going to support you and you just really need to get back on that horse.

So what does this look like? What does getting back on the horse? Let's just make it easy. Get back on the phone, get back into your emails and start creating more momentum and use that disappointment and that deal falling over as fuel in the tank as drive. If mistakes were made, if there was something that happened that you could have changed and that caused the deal to fall over, learn from your mistakes.

Look at it as though you paid the commission for the education. To actually learn from that mistake. It might be something the vendor did. It might be something the solicitor did. It might be something the buyer did. It might be something you did, whatever it was. If you've learned something, just offset it as the payment for that learning curve.

So let's do a little bit of a recap. What do you do to build resilience up so that you can ride the roller coaster of sales and make it a fun ride instead of a horror horror? First thing don't count your chickens. Make sure you're only celebrating deals that have gone through whether they've settled or whether the leases commissions have been paid, have lots of plates spinning.

It's the snowball effect. People keep up the momentum, do not down tools when you've done a deal and relax. Keep going. You want make sure that you, you building that momentum and they've got loads and loads of plates spinning so that when one falls down, it doesn't matter. It might suck. It might be a big deal, but it doesn't really matter because you've got plenty of opportunities around you.

You're building up that momentum and you still have other plates spinning.  Build up your resilience muscle. Look after yourself. So that's easy to do. Use the deals that fall over as fuel in your belly to go harder and strive for the next one. Write off any deals that fall over as a learning curve, the commission you were going to make.

You just paid that out to get an education on what NOT to do next. And finally, if you are in an environment, we are not getting supported when these things happen and you are, you feel like you're in a churn and burn environment. Get out, get out of that environment and find another environment that's going to nurture you as you build up your resilience muscle, because it is a tough game and you need support.

I'm here if you need me too. So look, if you want get in touch with me, if you've got something that's happened, if you've got a deal that's fallen over and you're not quite sure where it went wrong. Shoot me an email. My. Email address is Sandra million dollar agent.info. And in the next couple of weeks, I'll be doing a Q and A session as well.

So you can shoot me some questions over. I've already got a bunch coming through now, so I need to address those, but yeah, definitely send me an email and tell me how you are going. And. I'd love your feedback on how you are handling things on the roller coaster and what you're doing when deals are falling over.

And if you've got any strategies that you think you can teach me, I'm quite open to that as. So that's it for episode 12. Thank you so much for listening. I really appreciate it. And as I said before, get in touch, love to have a chat. I'm really easy to find. If you haven't seen my website it's milliondollaragent.live, check it out.

I have blogs on there. You can even book a 15 minute session with me, which is free at the moment where I can help you with your career. We can talk about what your plans are. Yeah, and I would love to meet you so. Get in touch that's million dollar agent.live. and my name's Sandra Carter. You can find me on LinkedIn, Instagram, TikTok, and Facebook under Sandra Carter, commercial agent sell hard smash that glass ceiling and build up that Resilience  muscle.

So you can ride that roller coaster.