Colorado REALTOR® Chandra Hall kicked off the Illinois REALTORS® Conference & Expo Wednesday in the opening session, “Stop Selling. Start Solving™.”

Her 90-minute presentation gave REALTORS® three keys to success: mindset, skill set and daily actions. By expounding on those keys, she shared at least five ideas that could help their businesses:

1. To develop the right mindset, REALTORS® should switch from transaction focus to referral focus.

2. Think of every sale in terms of 34 referrals over the next eight years.  For the first seven years, one customer will know an average of four people who’ll need a REALTOR®. That’s 28 potential referrals. In the eighth year, the customer will know four referrals and will need help selling their current home and buying a new one.

3. Use question-based selling or the Socratic method to spur conversation and help consumers gain ownership of the process. For example, a REALTOR® might ask on consumer: “Do you believe your home will sell for a fixed price or do you believe your home will sell in a range of value based on my marketing and negotiating skills?”

4. Consumers value your negotiating skills more than ever. Hall says, “When you and I put our negotiating skills to work, it makes all the difference.”

5. If consumers feel they will get the same result no matter what real estate agent they use, they will probably make their buying or selling decision based on price. But if they see the unique value you provide, they will likely choose to do business with you.

Hall is managing broker/owner of Colorado Mesa Realty LLC in Colorado Springs and is a professional speaker. In 1993, she founded and operated Innovative Funding, a corporate and non-profit resource partner collaborating with leaders of corporations and non-profit organizations. She began her residential real estate career in Wichita, KS in 1993. She began teaching in the year 2000.