The Real Estate Encyclopedia
Prediction, or Predilection?
Category - Real Estate Information Sources - Real Estate Articles

Some agent-owners swear by it; others are a bit more skeptical.

The subject of debate is the “Real Estate Simulator”, a new high-tech, online success-prediction instrument created by Upward Motion, Inc. to help brokerage firms identify potential strengths and weaknesses in candidates they’re considering for hire.

As explained by their website, Upward Motion’s Real Estate Simulator uses a three-in-one assessment strategy to evaluate selling skills, intelligence, and personality to provide comprehensive information about a person's strengths and weaknesses as it relates to real estate sales.

The simulation is divided into three key areas, each with it’s own focus. The first section is similar to standard IQ tests in its’ format, and asks basic mathematical and grammatical questions, similar to what one might encounter on an SAT test, though not quite as thorough. It requires the participant to answer 40 questions in a twelve-minute time frame, which proves harder to accomplish than it sounds.

The second section is presented as a personality test, designed to measure to what degree a prospective agent’s personality might fit the a top-producing real estate agent’s profile.

The third section is easily the most intriguing aspect of the test. It presents the participant with, “typical situations that real estate agents experience on the job every day”. It is essentially a situational response scenario, where the participant assumes the role of an agent while watching various streaming video clips, the content of which adjusts and changes according to the answers provided. If you’ve ever read any “Choose Your Own Adventure” books as kid, get ready for a serious flashback – this should be right up your alley. Participants must react to each video clip by selecting “the best” answer from choices A-D. The situations deal with buyer objections, establishing client needs, and sale acquisition. These situations are designed to test four fundamental sales competencies: (1) Building Rapport, (2) Managing the Sales Process, (3) Listening Skills, and (4) Closing the Sale.

“Building Rapport” measures participants’ ability to, “…develop a connection with clients on a personal level, and to collect necessary information by asking the right type of questions at the right time.”

“Managing the Sales Process” is described as “behaviors that control the flow and pace of the sales process”. It measures participants’ ability to, “…guide the client toward action at the right time by making appropriate recommendations, properly addressing clients' concerns, and effectively handling objections and removing obstacles.”

“Listening Skills” measures, “…how well you process the information that the clients provide, and how accurately you apply that information in the sales process.”

“Closing Skills” are described as, “behaviors related to bringing a sale to completion by obtaining a commitment from the client.” It measures participants’ ability to, “…obtain a commitment from your clients and to make them feel good about their purchasing decisions.”

In addition to providing the seeker with a benchmark by which to measure their potential success in the real estate industry, the results can also be used to customize training plans for existing or new employees. By very specifically identifying areas of strength and weakness, a broker can subsequently recommend a specific course of study or emphasize the development of particular skill sets, in addition to tailoring their hiring to compensate for their team’s overall strengths and weaknesses.

Today, Real Estate Simulator continues to gain notoriety within the industry for its uncanny precision and thorough, albeit template, analysis. Will the majority of agents acknowledge it as the conventional sales skill test? The answer is yours to decide.

Enjoy a demo of RE Simulaotr by clicking here.




References


External Links
www.isucceed.com
 
 
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Real Estate Information Sources - Real Estate Articles
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