Once more, we saw the 10-year yield stay in its relative holding pattern.  From the chart below, we have been in this tight trading range for about the last three weeks.  It appears the fear of trade wars is keeping interest rates from rising at the moment.

Sales 101 – Selling vs. Advising

I was reflecting this past week over the concept of all of us buying what we need versus being sold what we don’t need.  I often see sales people offer solutions which do not address the client’s needs.  Now the salesperson does a great job of justifying the widget, but it does little to better the client’s situation.

To me, this is very short-sighted.  Yes, you might make a sale, but it does not create long-term trust.  Candidly, I do not like being “sold” anything.  I have been through enough sale’s training courses to know when the “selling” approach is being attempted on me.  Some are more clever than others, but they all fall flat on me.

Just as an example, imagine a software vendor attempting to sell their great CRM system.  It has cool bells and whistles; and it can really help someone that has a problem effectively organizing and managing their contacts.  The vendor is excited and tells you how this will be great for your business.  Not a bad approach in many ways.  However, I would love for the vendor to ask me a bunch of questions to determine where my challenges are in my business.

Then, it would be extremely helpful if they could know of many tools that help their clients.  Some of these tools may or may not make the vendor money.  However, I know I would be impressed as their goal was to improve my business (even if it did not result in an immediate sale).  They may refer me to a colleague that has a tool that addresses my needs.  Well, guess what?  If they helped me, then I would be compelled to want to help them back.

I would want to know what the top issues are facing clients where their specific product was a perfect solution.  And, then I would try to find professionals in those situations and make introductions.  That way I am showing my appreciation.   In addition, I would welcome interactions with this vendor as it would be clear that they wanted me to succeed.

That is why I am always pushing doing the right thing for clients and business partners.  It is a style that let’s me be consistent; and it allows me to sleep at night.  When you combine knowledge, doing the right thing, and being very good at what you do, then you create a following of clients and virtual partners who know exactly how you do business.  In addition, you enhance the confidence of partners referring you.

My simple suggestion this week is to focus on the needs of the client versus your own.  You will still make sales; and you will be known as someone who is focused on helping clients achieve their goals.  Be far less concerned with the outcome in the immediate moment.  Just be that resource that continually adds value, respects the time of others, and is known as that person that is integral to the success of others.

Back on the January 15^th update, I wrote about “Creating Residential Listings Using Commercial Opportunities.”  Each week,  I am presenting some of those investment opportunities to better educate all on what is actually available.  Note that these are all Single Tenant Net Leased properties that have listed in about the last 10 days.  In addition, I assumed a 5.25% loan with 50% down.  This is just a small sample of what is actually available.

If you assume investors in the Bay Area are getting a cash flow of 3.5%, then you can see the potential improvement with these properties above.  This approach is great for the investors desiring increased cash flow, an opportunity to get out of daily property management, and/or taking the challenges of rent control off the table.  Should you wish to discuss any of these or others, then give me a call.