2A — March 27 - April 9, 2020 — M id A tlantic Real Estate Journal
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M id A tlantic Real Estate Journal
M id A tlantic R eal E state J ournal Publisher, Conference Producer . .............Linda Christman AVP, Conference Producer ...........................Lea Christman Publisher ........................................................Joe Christman Section Publisher ............................................. Steve Kelley Section Publisher ............................................... Kim Brunet Editor/Graphic Artist..... .................................Karen Vachon Office Manager . ..............................................Kerrin Devine Contributing Columnist ................................ Andrew Sobel Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 350 Lincoln St, Suite 1105, Hingham, MA 02043 USPS #22-358 | Vol. 32, Issue 6 Subscription rates: 1 year $99.00, 2 years $148.50, 3 years $247.50 & $4.00 single issue - plus postage REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Phone: 781-740-2900 | Fax: 781-740-2929 www.marej.com
Andrew Sobel
How to Make the Shift from "Expert" to "Advisor" (and Watch Your Career Explode) Y ou're great at what you do. And people clearly value your expertise and domain knowledge. That's as it should be: Knowing your stuff is your ticket to entry in a competitive business market. But if you want to build lasting client relationships, don't get too hung up on your "expert" status, said relationship au- thority Andrew Sobel. Clients don't want experts who talk at them all day. They want trusted advisors. "Experts focus on the trans- action," said Sobel, creator of the eLearning masterclass Building Your Clients For Life and the international best-sell- ing author whose latest book, It Starts With Clients: Your 100-Day Plan to Build Lifelong Relationships and Revenue will be available in April. "Advisors take a broader outlook, giving clients an expansive outlook on their problems and the poten- tial solutions, and emphasizing the long-term relationship— even when there are no fees coming in." Here are a few reasons the "expert" mindset often fails. • It's "me" focused. An ex- pert mindset focuses on your experience instead of your clients. You may run the risk of overwhelming clients with breathless serenades about your products, services, meth- odologies, and the details of your résumé. • It causes tunnel vision. In 1980, when the old AT&T commissioned a top consulting firm to estimate the market for cell phones in the year 2000, they forecast that there would be only 900,000 cell phones. The "experts" were off by 108 million because they lacked the imagination to see the potential for mobile phones...and AT&T missed a huge opportunity to get an early start in the market. • It vastly narrows your scope. Harry Truman once quipped, "An expert is a fellow who's afraid to learn anything new, because then he wouldn't be an expert anymore." As an expert, you may en- thusiastically pitch your solu- tions, whereas with the advisor mindset, you ask thought- provoking questions and listen deeply. As an expert, you accept
the client's definition of their challenge. As an advisor, you reframe the challenge in order to define the total problem and the total solution. The result is greater impact and more value. Sobel said you can make the shift from expert to advisor as you build out a proven, 14- week plan for conquering your toughest challenges, growing your client base (in both up and down markets), and transform- ing your client relationships. His book—along with his 100- Day Client Growth Challenge is designed to be a blueprint to help you. Here are a few behaviors to embrace as you seek to become a trusted advisor: Prepare smartly for pros- pect meetings. Don't spend hours and hours researching the company. Much of that will be a waste of time. Like- wise, don't spend most of your preparation time rehearsing your "message." You'll get too fixated on it and build in rigid - ity. Skim background mate- rial looking specifically for two things: facts about the company that stimulate an idea or "hook" you might use to engage the client, and things you want to ask questions about. Focus as much on the individual as the company: What is the back- ground and career history of the person you're meeting with? What can you learn about their personal style? The more you understand about them, the faster you will be able to build rapport when you meet. Find commonalities and similarities. Engage with clients around common inter- ests and experiences, mutual acquaintances, life's concerns and challenges, family, and so on. Search for what you have in common, not how you are differ- ent. This accelerates likability and trust. Be curious about your client as a person. Curiosity
drives a thirst to learn about knowledge and other people. It motivates you to ask thought- ful questions, empathize, and build a rapport with your client. You might ask questions like, So what do you think about... (a current event, trend, some breaking news, etc.)? How would you compare the culture here with the culture at your old employer? What has been the most important leadership development experience in your career so far? What are you working on that you're most excited about? Set the agenda: Why are you there? This is a crucial part of establishing a collabora- tive peer relationship with the other person. It demonstrates confidence. For example, you might say, "I understand we've got one hour scheduled for this discussion—is that right? (pause) I wanted to share with youmy approach to building cli- ents for life and describe a cou- ple examples of how I've helped other firms improve both their new client acquisition and their ability to grow and retain exist- ing relationships. Then I'd love to hear about your efforts to grow your client base and what your most important priorities are right now. Is there anything that you'd like to make sure we cover?" Walk in confidently as a peer (without being arro- gant). Treat your client like a colleague or friend, not as a su- perior. Be polite and courteous, but not deferential or fawning. "The first sale is always your - self," said Sobel. "If you don't believe you have something valuable to share with others, they won't believe it either. If it's a new prospective client, you might even say up front, 'I'm sure that at the end of our discussion, we'll both know if it makes sense to continue the dialogue...'" continued on page 14A
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