Sealing deals is challenging. Whether you’re taking your first steps in the real estate business or being an experienced real estate investor, there might be a moment of doubt, a few minutes where you kind of discuss with yourself your capabilities. That’s why at Real Estate IQ, we invited Karishma Makhani, a 15-year experienced coach, and asked her what the ultimate secret for sealing a deal is.
“I believe sales and a sales mindset are critical to being successful in your business,” stated Makhani right from the beginning of her webinar. With this hint, she encouraged the attendees to reflect on their goals, their businesses, and their feelings towards their jobs. And she even granted them a 15-minute personalized advisory!
What does it take to seal a deal?
The first thing you need to know is that success is not just strategy. According to the speaker, it represents only 20% of it. 80% of being successful is psychology. An by this, she meant confidence, determination, a mindset that says, “I’m doing this no matter what.”
The money is in the communication. The money is in how we show up in the business; it’s our ability to secure the client and secure deals. We can have all the tools and resources in the world, but if we’re not able to transfer them into money in our pockets, we cannot impact people.
Karishma Makhani
Makhani brought a few statistics to the table. In 2013, a Kaufman Foundation survey indicated that only 6% of all entrepreneurs ever achieved 6 figure business success; only 2% ever achieved 7 figure success, and more than 50% of all business owners never exceeded $25,000 each year. And if we add to the picture that the market is more saturated now than ever during the pandemic, it results in a need to be creative. “We need to be more competitive, to do what other people are not doing in their business. And also, we need to have a more versatile skill set and be more resilient than other people in the market, so our business can sustain and thrive.”
Having said that, the coach pointed out a survey she conducted among entrepreneurs, where she gathered information related to their concerns. The top four are:
- Uncertainty of what to do
- Fear of rejection
- Lack of motivation – Being busy but not being productive
- Lack of confidence.
These sentiments can be labeled as disempowering, which means that they will play against you. To get rid of them, Makhani advised working on the confidence from the inside without waiting for something external to happen. “We should understand that more confidence equals more business. When we previously didn’t get results, it was because we needed to create the identity of success inside out. When we train our insights, we start creating results on the outside. We don’t need a deal or anything outside us to become more confident and successful. We need to train our mind, our body, and our emotions so that we’re successful entrepreneurs!” she assured.
Set up your goals and broaden your limits
Having clear objectives can be useful to organize the work and keep focus. Coach Karishma identified three types of goals:
- Income
- Impact, related to how people can impact with their work
- Contribution, also known as the “why,”; what do someone get to give away, who do they serve, what lives will be changed by their work
“The money drive only lasts so long. The secret to living is giving, and when we start connecting our business, our purpose, with giving, we can create an impact. There’s got to be a big compelling why that pushes us outside our comfort zone, an exciting reason, bigger than us,” she added. In her case, it’s providing literacy education to girls in India.
Once the goals are defined, it’s time to do something! Remember: as Makhani said, sales is a transfer of emotions. “You should transmit certainty. People come with a problem that needs to be solved. The person with the most certainty -or confidence- will seal the deal. Start believing in yourself, in your ability. If you believe you’re successful, you’re going to start showing up with greater potential, and then you’ll take more action and ultimately create better results.”, she concluded.
Disclaimer: The blog articles are intended for educational and informational purposes only. Nothing in the content is designed to be legal or financial advice.
