-by Scoop (October 13, 2017)
eaders of my weekly column have likely noticed over the past 8 years that when it comes to the topic of selling/closing I usually refer to “those magical little round tables” with the highest regard. I do so, in part, because if it weren’t for the selling & closing activities that takes place around “those magical little round tables” there would never have been a worldwide timesharing industry and we’d all, obviously, be doing something else – with the ‘what’ at this point being conjecture.
So Here’s The Scoop: Clearly there are other very important ‘links’ in the timeshare chain of success but when it is all said and done the grand finale, the big hurrah, the final act and/or the majestic ending performance is the indisputable ‘wrap’ that about 99% of the time takes place around “those magical little round tables”.
Interestingly, since the selling of timeshare vacation accommodations initially began in Europe a little more than 50 years ago I realized recently that during all that time few ‘things’ have had a facelift, so to speak and much of what we do in the Land of Time since the mid 1960’s hasn’t changed at all.
Consider, for example, that worldwide most timeshare developers still classify, pay and treat their critically important sales reps as non-employee commission-only independent contractors.
Those are also the same developers who still deduct money from each rep’s paycheck (up to a certain amount) in the form of a reserve fund but never return the money – many thousands of dollars (USD) per rep – when the rep leaves the company.
And unlike the competition that classifies their sales reps as ‘employees’, including those developers who pay a base (hourly or weekly) plus higher commissions while offering full security benefits that includes life & health insurance as well as a company sponsored retirement plan etc. – the scoundrels (aka: perk-less developers) couldn’t care less about their sales reps’ security and futures.
Another example of how things haven’t changed also goes right back to “those magical little round tables” – and that is every working day of the year, all around the world, timeshare sales reps (aka: liners, closers and/or front to backers) extend a hand and welcome, mostly, total strangers to their ‘office’ (aka: sales center).
Then, within a matter of a few hours those same reps will talk (sell/close) a percentage of those strangers into actually signing a binding long-term contract with the developer that requires each signee to fork over, on the spot, thousands of dollars. You know – the down payment.
And, as we all know, that initial deposit is just the beginning point of paying for a yet-to-be-delivered product (aka: use of accommodations) and, in time, each signee who is sold & closed on “those magical little round tables” will then remit to their specific developer an individual amount that, in time, will total in (e.g.) the low $10’s of thousands (USD) to $60-100’s (USD) of thousands – and, sometimes, more!
Now you would think that the talent required to convert total strangers within a matter of a few hours into doing such ‘things’ that involve that amount of money would be highly praised and financially rewarded in a manner befitting the ability to accomplish such a specialized feat.
An achievement I might add that perhaps 95 + % of all homo-sapiens walking around all our cities couldn’t pull off in the first place; and that includes, by the way, with no disrespect intended, most developers and their C-Level executives, many of whom never sold a ‘week’ in their entire lives.
Which brings me to the 2017 Christmas Bonus and that, IMPO, all timeshare developers around the world should enthusiastically distribute to all their sales reps this Holiday Season for a job well done & for being a rare breed that continues to perpetuate those developers’ wealth and futures as well as the well-being & financial security of their families!
You know – now that I think about it the bonus doesn’t have to be about the Holidays either and the annual ‘pop’ could just be paid out as an end of the year bonus based purely on production.
Perhaps the end of the year bonus should be a percentage of all the net business each rep ‘wrote’ (aka: sold/closed) during 2017 (e.g. January through the 2nd week of December) such as 5%, 4%, 3%, 2%, 1%, .75%, .50% or .25%?
This way even the newest sales reps will get that special ‘Thank You’ at the end of the year and the developer will make money, too, because that type of appreciation goes a long way to help reduce those expensive sales rep turnover ratios, helping the developers retain their dedicated, loyal, good, decent & hard working sales reps.
Good Luck Out There
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