Overall Suitability
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PURPOSE
Success in any profession is largely a function of having the right competencies, or, in other words, the skills and abilities critical for success.
This is an assessment report of Sample Report 5's skills and abilities, as these pertain to a successful career in real estate sales.
ANALYSIS
The analysis of competencies is made by statistically comparing Sample Report 5's responses to those of top performing real estate agents. High scores indicate that Sample's responses closely match those of top performers contained in the database. Low scores indicate deviations from the pattern of top performers’ responses and, thus, reveal areas of weakness.
For the purpose of this analysis, “top performers” are defined as those agents who are (a) making at least $150,000 a year in commissions and (b) considered to be “top performers” in their home office. Many “top performers” contained in the database earn in excess of $1 Million a year.
In reviewing the results for Sample Report 5 , provided below, please bear in mind that Sample is being benchmarked against agents who are highly advanced in terms of their sales competencies. Consequently, the report should be read from the following perspective: What can Sample do to become better? No matter how successful Sample is as an agent, there is usually room for improvement within any individual.
RESULTS - Sample Report 5
Summary
The following graph reveals how closely Sample Report 5's responses match up to those of top performers.
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Overall Suitability |
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Sample Report 5's responses deviate substantially from those of top
performers. This result indicates that Sample's sales competencies are not as
well developed as they should be for a successful career in real estate sales.
Sample should consider enrolling in training programs or working with a
personal coach to develop skills in the areas of weakness. Please review the
Detailed Results below for more information.
Detailed Assessment
The following graph illustrates Sample Report 5's areas of strength and weakness. The graph is laid out in terms of critical competencies that are required to successfully perform as a real estate agent. For each competency, Sample Report 5 is evaluated in terms of Sample's current level of development. A high score indicates strength in that particular competency. A low score indicates that a competency may require further development. Please review the information below the graph for an interpretation of the results.
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| SALES ABILITY | ||
| Building Rapport And Acquiring Information | | |
| Listening And Comprehension Skills | | |
| Managing The Sales Process | | |
| Closing Skills | | |
| GENERAL COGNITIVE ABILITY | ||
| Ability | | |
| PERSONALITY PROFILE | ||
| Sociability | | |
| Assertiveness | | |
| Achievement | | |
| Dependability | | |
| Emotional Resilience | | |
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Please note that the score on each scale is interpreted relative to a Report 4 of other real estate agents who have completed this assessment: 'Enhanced Competencies' means that the score is in the top 15 per cent, 'Effective Functioning' means that the score is about average, and 'Needs Improvement' means that the score is in the bottom 15 per cent.
1. SALES ABILITY
The simulation part of the test has been designed to assess whether the individual exhibits behaviors that are important for success in real estate sales. The simulation measures four important categories of sales behavior: (a) Building rapport and qualifying prospects, (b) Listening and comprehension, (c) Managing the sales process, and (d) Closing.
1.1. Building Rapport And Qualifying Prospects
At the beginning of the sales process, critical sales skills involve qualifying prospects and establishing a working relationship with the promising ones. Qualifying prospects involves distinguishing between the motivated prospects and non-motivated prospects by probing for and evaluating their level of commitment and financial resources. Building rapport involves quickly establishing a working relationship by developing a connection with prospects on a personal level and communicating a sense of trust. Successful agents know how to qualify and build rapport quickly and efficiently, and the simulation measures Sample's ability in this regard.
Based on Sample Report 5's responses in the simulation, it appears that Sample's opening skills are below average. Sample is not very effective at qualifying prospects and quickly establishing relationships with potential clients. Sample can benefit from further training in this area. It is recommended that Sample reviews the recommendations provided in this report (click here) and works with a trainer or a coach to improve opening skills.1.2. Listening and Comprehension
Real estate agents must have good listening and comprehension skills in order to understand their clients’ needs and requirements on the basis of verbal and non-verbal communication. This part of the simulation measures how well Sample Report 5 processes the information that the clients provide and how accurately Sample applies that information in the sales process. Please note that, as in real life, clients in the simulation sometimes communicate information in an ambiguous manner, requiring Sample to recognize and interpret vague statements and to “read between the lines.”
Compared to other agents who have completed this assessment, Sample Report 5 has good listening and comprehension skills. For the most part, Sample can listen and comprehend clients' instructions and requirements well, and can apply this information to make a sale. Sample may consider some of the suggestions provided in this report to improve skills even further (click here).
1.3. Managing the Sales Process
Managing skills involve a set of behaviors that control the flow and pace of the sales process. This part of the simulation measures Sample's ability to guide the client toward action at the right time by making appropriate recommendations (while not turning off the client by being too aggressive or too forward), properly addressing clients’ concerns, and effectively handling objections and removing obstacles.
Compared to other salespeople, Sample Report 5 manages the sales process well. Sample generally moves toward action in the right way and at the right time. However, occasionally Sample can display an inappropriate level of assertiveness at an inappropriate time in the sales process. Sample should review the suggestions provided in this report (click here) in order to further improve the ability to manage the sales process by steering the client more effectively toward purchasing decision.
1.4. Closing Skills
Closing skills are behaviors related to bringing a sale to completion by asking for and obtaining a commitment from the client. Agents with strong closing skills are able to make closing recommendations, be persistent, overcome resistance, and can complete a transaction with ease. Typically, these agents are able to recognize customer’s buying signals and can persist with selling efforts despite setbacks or customer resistance in order to drive the sale to a close. In contrast, those with poor closing skills tend to either back away from the sale when a client demonstrates resistance or proceed too aggressively, potentially jeopardizing their relationship with clients. Poor closing skills dramatically extend the length of the sales cycle, lead to loss of clients, and result in foregone income opportunities.
Compared with top performing agents, Sample Report 5 exhibits a weakness in the area of closing a sale. Sample's approach and timing are substantially different than that of top performers. Sample should seek to improve closing skills by learning how to confidently ask for commitment and to complete transactions more effectively. Practicing closing scripts can help Sample deal more easily with remaining resistance and “last minute” reluctance on the part of the client to make a decision. Sample should examine the recommendations provided in this report (click here) for additional strategies. Sample can also consider working with a trainer or a coach to fine-tune the approach and improve timing.
2. COGNITIVE ABILITY
This portion of the assessment has been designed to measure general intelligence. The higher the score on this test, the greater the person's ability to solve problems, process information, and quickly learn new concepts. High general intelligence is linked to success in a number of professions, including sales; however, please note that by itself this test is not a strong predictor of success in sales.
Compared to other real estate agents who have completed this cognitive ability test, Sample Report 5's score is about average. Most salespeople fall into this range. This score indicates that Sample has a good ability to think through and resolve problems as they arise and to process information quickly and accurately. It also suggests that Sample has a good capacity for discovering and learning new sales techniques and strategies. Sample should continue to stay on top of the industry’s events and developments and keep abreast of new marketing and sales strategies in order to maintain a strategic performance edge. One way to do this is by monitoring key industry websites, such as http://www.realtytimes.com/, http://www.brokeragentnews.com/, http://www.inman.com/, http://www.realtor.com/, and http://www.russer.com/.
3. PERSONALITY PROFILE
Personality explains an individual’s behavioral tendencies. While personality does not determine one’s precise actions, it provides valuable information about inclinations and general patterns of behavior. The personality dimensions assessed by this profile have been shown to be linked to success in sales-related careers.
3.1 Extraversion
This trait reflects preference for, and behavior in, social situations. Individuals high in extraversion seek out the company of others and appear energetic. Extraverts get their energy from the outer world and feel drained when they are by themselves for too long. They like to talk and are expressive in communicating their feelings, emotions, interests and experiences to others. Extraverts are more friendly and outgoing around others than most people and tend to exert leadership. In contrast, those low in extraversion are inclined to be more quiet and reserved. These individuals get their energy from within and deplete energy quickly when having to deal with a lot of people.
From a career perspective, extraverts tend to enjoy sales, since this occupation involves “action” and a high level of social interaction. They feel energized by being immersed in a breadth of activities and by making “things happen.” Extraverts also tend to be more successful in sales, because they are able to effectively utilize their powers of persuasion and personal influence to engage clients and to close deals.
There are two main sub-traits of Extraversion: Sociability and Assertiveness.
3.1.a Sociability
Those high in sociability genuinely like people and easily form close relationships with others. They enjoy the company of others and large gatherings. They tend to be outgoing, friendly and affectionate. In contrast, those low in sociability value their personal time alone, form new relationships more guardedly, and prefer relations with fewer people. They do not necessarily avoid social interaction with others, but generally do not seek it.
Compared to other real estate agents who have completed this profile, Sample Report 5's score on this dimension is about average. Sample enjoys outgoing social situations and working with other people, but also likes to be alone and values personal time. While this level of sociability is adequate for achieving high performance as a real estate agent, Sample may consider some of the suggestions provided in this report (click here).3.1.b Assertiveness
Assertiveness refers to an individual’s ability to express opinions, feelings and desires with confidence and clarity. Assertive individuals are usually confident in themselves and their own values and beliefs. They are aware of their personal rights and do not let others take advantage of them. They tend to speak without hesitation and communicate their feelings openly, but without appearing aggressive or abusive. In dealing with others, assertive people tend to be somewhat dominant – perhaps even forceful – and often exhibit leadership behaviors. In contrast, individuals low in assertiveness prefer to keep in the background and let others take the lead and make decisions. Unassertive individuals are frequently perceived as passive, and compliant.
Please note that being “assertive” is not the same as being “aggressive.” While “assertiveness” is a positive trait, “aggressiveness” usually refers to behaviors that are self-centered, inconsiderate, hostile, arrogant, and/or demanding.
Sample Report 5's responses indicate that Sample is a relatively assertive individual. Sample can take control of a situation, but also tries to avoid conflict. Depending on circumstances, Sample can be forceful in affirming a particular opinion or a certain way of doing things and comes across as energetic and self-confident. In sales interactions, Sample has the ability to influence and direct the buying decision, but not to the point of appearing pushy or demanding. However, at other times, Sample reacts more passively, takes time to formulate thoughts before speaking, and prefers to leave control to others. From the perspective of a career in real estate sales, Sample may consider some of the suggestions provided in this report (click here).3.2. Conscientiousness
This trait reflects how persistent and organized a person is in pursuit of his or her professional and personal goals. Highly conscientious people are achievement-oriented, self-disciplined, organized, and dutiful. Conscientious people are generally interested in continuous self-improvement and often become leaders and “high achievers” in their chosen careers. In contrast, people low in conscientiousness tend to have less ambitious goals and tend to be less focused on pursuing those goals. They also tend to be more hedonic and are more likely to be distracted from the task at hand.
From a perspective of a career in real estate sales, highly conscientious people tend to be more successful, because this career requires a goal-setting ability and self-discipline. Successful agents must set goals, plan their activities, organize their time, and implement their strategy with stamina and consistency.
Conscientiousness is composed of two main sub-dimensions: Achievement-orientation and Dependability.
3.2.a Achievement-Orientation
Achievement-orientation describes an internal drive to compete against a “standard of excellence” and to achieve success. Individuals who are high in achievement-orientation typically are goal-oriented and aspire to be successful, whether their standard of success is their own past performance (e.g., increase sales by 20% this year), some objective measure (e.g., become a member of the President’s Club), a challenging goal (e.g., give out 5000 cards), or the performance of others (e.g., outsell Mary). In contrast, individuals who are low in achievement-orientation are less focused on goals, less enthusiastic about their careers, and often do the minimum required in their work.
Compared to other real estate agents, Sample Report 5 is relatively driven to achieve success and has a good sense for what it takes to reach self established goals. However, while Sample is concerned with the goal of career advancement, sometimes Sample gets distracted by other tasks and activities. Also, Sample occasionally feels doubt regarding the ability to achieve some of the more ambitious goals. From a career perspective, Sample can improve performance by learning to focus energy and resources on accomplishing the most important goal(s). Sample should review the suggestions provided in this report (click here).3.2.b Dependability
Dependability reflects how organized and focused a person is on the task at hand. An individual high in dependability is organized, reliable, methodical and persistent. This person plans and utilizes time wisely. In contrast, a person low in dependability is one who is careless and fails to deliver on promises.
According to Sample's responses, Sample is low in terms of dependability. Sample may make decisions without fully considering the consequences and has a tendency to procrastinate in commencing tasks. When engaged in a task, Sample frequently feels unprepared and tends to be disorganized and unsystematic in the approach. Sample often finds it difficult to focus on the job at hand, and can be easily distracted by a passing idea, activity, or person. In response to discouraging results, Sample may be eager to quit the task. From the career standpoint, Sample would benefit from assistance in organizing workload and implementing a formal, accountability-based process throughout the sales cycle. Sample may also consider working with a personal coach. Sample should review the other suggestions provided in this report (click here).3.3. Emotional Resilience
This trait reflects the tendency to experience and the ability to manage negative thoughts and feelings. A high score suggests that the individual is generally stable, calm, and relaxed. Emotionally resilient people tend to be less emotional and less prone to distress. In contrast, a low score indicates a tendency to experience negative affects, such as anxiety, fear, sadness, embarrassment and anger.
A career in real estate sales involves dealing with events that challenge one’s emotional state on daily basis. In order to succeed, agents must effectively handle rejection, periodic "no sales" periods, difficult clients, hard-line negotiations, and other stressful events. People who are emotionally resilient tend to perform better in these situations.
Sample Report 5's responses indicate normal emotional resilience. Sample is generally calm and able to deal with stress well. On occasion, Sample may experience feelings of anger, sadness, and anxiety, but does not excessively focus on these emotions and manages to bounce back fairly quickly. Also, while Sample considers potentially negative outcomes of various actions, Sample does not dwell on things that might go wrong. Nevertheless, Sample given the emotionally challenging nature of a career in real estate sales, Sample may benefit from a strong personal support system and continuous encouragement from within Sample's environment. Sample may also consider some of the techniques, contained in this report, for dealing with adverse situations (click here).
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