Posts Tagged ‘expert’
Generate Business NOW —Even As the World Crumbles
Monday, August 22nd, 2011
The news from Wall Street and Main Street (i.e. the housing market) could hardly be less encouraging. And to put a cherry on that sundae, the “experts” are now saying we will likely be entering another recession (like when did we stop having the first one?). This all begs the question: How are you going to generate new business when everything seems to be falling apart?
The first thing to remember is that no matter how bad the economy gets, people will still be buying and selling real estate. I remember being in the business (actively buying investment properties) when interest rates on 30 year loans were around 17% – 18%. The key is to help those who need to sell –right now! This means aggressively courting the FSBO’s and Expireds of the world. The majority of these folks need to sell, no other option available, which means they need YOU.
I made a lot of money during another recession (in the mid 1970′s) specializing in FSBOs. Here are some proven tips to help you turn these market opportunities (FSBO’s and Expired’s) into cash:
- Sell the appointment, not your service - you have to get “belly to belly” with these folks if you want to list their home. Many agents make the mistake of selling their services over the phone. The only thing you want to use the phone for is to get that in-person appointment. So get good, real good at selling the appointment.
- Be their advocate - FSBO’s and Expired’s tend to be stressed out and just a little bit cynical about Realtors. Make it clear that you are there to help them achieve all of their goals, whether or not you get the listing.
- Have an irresistible marketing plan - you better have something that will make them go “Wow!” when it comes to selling their property. Something that most other agents in your area are not likely to offer. For an incredible example of this review the 2/8/11 GUEST EXPERT “How to Win Every Listing and Have Sellers Pay You Upfront!“ Live Group Coaching archive.
There will always be business. And in times like these when it seems everything has been made that much more difficult, you may just be open to doing things that are proven to work, in any market. And that my friend is the gift of troubled times.
The Tweak That Will Double Your Business
Saturday, July 30th, 2011
Why did one top producing agent suddenly lose four listings in a row when he’s used to about a 98% listing presentation closing rate? He has since fixed this problem, but it’s the same one that most agents have and don’t even know it.
The top producer in question has a nearly unbeatable value proposition for his potential sellers. The reason it stopped working for him is that he “went off script” as he put it. He fell back into the lazy habit of focusing on “features” of what he will do for sellers, rather than the benefits. We witnessed this same proclivity during our recent “Why should I choose you?” listing presentation contest. Nearly every contestant proudly presented the features of what they would do and make them stand out instead of the benefits that would be important to a seller.
The reason it is so easy for salespeople to sell features is that we are so familiar with our services that we “collapse” the benefits with their respective features. In fact, it is hard to imagine why anyone doesn’t immediate “get” the benefits of those wonderful features we so readily and excitedly expound upon. The problem is that most prospects won’t get it, and in fact may feel intimidated by not understanding why those features are supposed to be so valuable.
People buy with their emotions and justify it with their intellect. Benefits are the shortest distance to the heart of the prospect, features are the roadway that support that journey. If benefits are even mentioned in a presentation, they usually follow the feature (the old “features / benefits” selling script). This is ass-backwards. Always, always, always share the benefit first, then justify how it will be delivered via the feature.
High-powered selling is not magic or even hard if you understand and apply basic human behavioral principles. Prospects are only interested in what you can do for them from a benefit perspective. They don’t want to know about the drill, they just want the hole. Learn this well and have the discipline to apply it to every sales situation and watch your closing ratio shoot skyward.
Go Where Eagles Gather
Monday, July 25th, 2011
As I write this I’m in San Diego speaking to the Corcoran Coaching Mastermind and STAR POWER conferences. Both of these event tend to attract the “best of the best”. And as a featured speaker, it gives me a unique opportunity to see the shared qualities that make these folks so successful.
Here’s the short list:
- They think like business people – most of them strive to make their business run successfully without them doing all the work;
- Their hunger for new ideas is insatiable – they are constantly looking for the “edge” in sales, marketing and operations;
- They are wary of “bright shiny objects” – too many of them have already been burned by the “Just buy this and all your problems will be solved!” pitches. They know that building a successful business is marathon, not a quick sprint using some fancy new tool or service;
- They freely share ideas – no small-minded “I’m going to keep this idea to myself.” behavior found in these groups. In fact, they are down right excited to help each other;
- They consistently implement - this group knows that great ideas not put into practice are worthless;
- They are very coachable – they really get that the potential size of their business success is inversely proportional to the size of their ego when it comes to being open to new ways of doing things.
And one more thing. Eagles gather with other eagles on a regular basis just like at these kinds of events. So if you are tired of hanging around the turkeys and want to really soar, start showing up where the eagles hang out and grow a few –eagle feathers that is.
Why Should I Choose You?
Saturday, July 16th, 2011
It’s not too often that I get to be on the “consumer” side of real estate. Yesterday I helped my wife evaluate two Realtors for the possibility of listing her mother’s home for sale. We asked a series of questions starting with “Why should we pick you over all of your competitors?” and that’s when the fun began.
The look on the face of the first one (who had 31 years in the business) was priceless. After composing himself he shares that he’s in the office every day at 8:30am and returns all his phone calls in a timely manner. No really, that’s what he said.
Then we asked “What is your marketing plan that will make this home stand out from all the others and give us the highest value in a reasonable time?” At that, he points to his very nice (customized and hard-bound even!) presentation package and says: “It’s in there, read it –or do you want me to read it for you?” At which point we quickly (yet politely) ended our meeting.
The second one wasn’t much better. He was quite a bit younger and more hip to technology yet he still stumbled all over the question as to why he should be chosen over anyone else. When asked about his marketing program he started rattling off his budgets for print and online advertising, yada, yada yada. When asked why he spends so much money on print when most people use the Internet he said: “I only do the print to satisfy the sellers and to promote my company, we’ve actually never received any business from it.” When we requested that he put together a comprehensive marketing plan for my mother-in-law’s home, he nods at the folder in his hand then gives it to us. Unlike the first agent, it was not customized, had only examples of mostly print advertising and no formal plan whatsoever. We’re still looking…
Granted, most consumers are not going to be quite as, well, thorough as we were. Never-the-less, if they can’t quite articulate the question, they are thinking it: “Why should we chose you over everyone else?” If you can’t answer that in a powerful and straightforward way (while avoiding the typical bromides of “I work hard!”, “I already have buyers interested in your home!”, “I have tremendous experience?”, etc.) then you are working way too hard and earning far too little.
You already have your answer if you are specializing in a niche. Otherwise, take the time to come up with a powerful response. Take it from someone who has just experienced it first hand from the consumer side, you will quickly appear to be head and shoulders above your competition within the first five minutes of any listing appointment.
The Quickest Way to Get Better at What You Do
Saturday, May 14th, 2011
It’s safe to say that pretty much everybody in this business strives to get better. How you go about doing that is going to make all the difference in the results you’ll ultimately see. Here’s why…
Assessing Your Strengths and Weaknesses
The first step on the path to improvement is to become objectively clear about your current strengths and weaknesses. This comes about by asking the right questions, typically through what is known as an “assessment”. There are currently a huge array of assessments used throughout business. You may be familiar with and in fact have used the DISC profile which is a highly effective personality assessment used to help people communicate and work more effectively together.
An effective business assessment, however, is one that asks you questions about your current business that you may never have considered before. The value of this is that it causes you to think about your business in different ways and become open to possibilities you didn’t know were available. It is in this spirit that I created the free Confidential Business Assessment (CBA) specifically for real estate sales professionals who want to have a business that serves them rather than just a job selling real estate. Here are the five areas that it specifically assesses:
- Your Experience – including what kinds of business you do, where it comes from and your strengths and weaknesses;
- Your Business Strategy – including specializations (if any), ways you promote your business, written business plan (if any) and your “Exit Strategy” for when you retire;
- Your Goals & Aspirations – covers both financial and lifestyle goals and reasons you feel held back from reaching them;
- Your Business Operations - including how you currently get things done and how your current operational approach may be holding you back;
- Your Personality Profile – including your current DISC profile (if you had one done) and other factors that may impact your ability to achieve long-term business success.
Busyness Is Not the Same As Business
Sometimes sales professionals don’t want to assess their current situation, rationalizing that they are already so “busy”. The irony here is that this “busyness” is actually holding them back from having a viable business. A true business is one that serves you 24/7 whether or not you are in the office or on vacation. In case you hadn’t noticed they are not particularly easy to create (just ask the 3% of the industry who have successfully done so). However, this possibility is available to anyone who is willing (and courageous enough) to objectively assess their current situation.
You have to know where you are now before you can plot a path to where you want to go. If you would like to confidentially assess your own business, just CLICK HERE. It’s free, takes only 5 minutes and the process of just completing it could change your entire career.
The Ultimate Listing Website
Sunday, August 22nd, 2010
If you think the Web only works for buyers think again. Here’s a Website that is specifically designed to generate listings and doesn’t even use search engines to drive traffic to it.
Focus, Focus, Focus
Mega-producers Noel & Lee Bittinger are members of my ULTRA eTEAM and decided to go after the more affluent listings in the Canton, MI area. Only after months of planning and refinement did they even speak to a Web designer. The extraordinary result is SellingCantonHomes.com. It was the focus of a recent HOT SEAT session we did to evaluate its effectiveness and refine it even further.
The video below is a recording of that Webinar that shows you exactly what they did on the site and why it is such a powerful listing generating machine (be sure to watch it full screen!)
The site shows a lot of clever thinking and the application of rock-solid online business-generating principles. Take some time to study this site, view its “irresistible offers”, read the copy to see how engaging it is and so on. This goes so far beyond the typical “For Sellers” button or menu item on the typical agent Website —something potential sellers recognize instantly.
Websites are not just for buyers. Literally half the market is being ignored online, until now…
The 110,000 Facebook Member Man
Monday, May 24th, 2010
This past February 18th I wrote an article about how Realtor Doug Newby’s Modern Homes Facebook page surpassed 50,000 “fans”. As of this writing he is just a few hours (minutes?) from clearing 110,000 members to his page. This exceeds the sum of the Facebook page membership of every major real estate franchise combined probably at least two times over.
Don’t Blink…
When I share Doug’s Facebook numbers with audiences the very first question I get is “Great, now what has it done for his business?”. I can tell you this; Doug gets over 95% of his business online and traffic to his SignificantHomes.com site is up dramatically since last Fall (when his Facebook membership was zero).
Now if you are one of those folks who still doubt the power (and necessity) of social networking within your business, check this out:
And in terms of impact on your business:
EdgeRank optimization appears to be an order of magnitude greater than search engine optimization…
TechCrunch
*EdgeRank is Facebook’s algorithm that measures social networking relevancy.
Clearly Doug’s Facebook numbers put him as an Outlier in the realm of Realtor social media. Be that as it may, his success on (and as a result of) Facebook is something we all can aspire to. Just don’t expect to play the online game well without this part of the equation. Mainly because it IS the equation for success online.
How to Create Extraordinary Results
Friday, January 22nd, 2010
What if a famous and wealthy person came up to you and made this offer: “I’ll pay you $500,000 if you bring in 10 new listings in the next 5 days.” Chances are that your mind will start reeling with ideas on how you are going to accomplish that goal. At that very instant, you have become committed.
Unfortunately, most people don’t know the meaning of the word. They spend more time telling people what they are going to do than actually doing it. Lip service is never a substitute for true commitment.
The issue is not whether we are capable of commitment, it’s making sure the vision of the outcome is strong enough to maintain our committed actions. And this explains knowing why you do what you do is so darned critical to commitment and hence your overall success…
Are you committed to just getting by, to just getting through the day with as little effort as possible? Or are you committed to something greater, something magnificent and exciting and fulfilling?
Whatever you’re truly committed to, is exactly what you’ll achieve. Whatever you’re truly committed to, determines the kind of life that you lead.
Ralph Marston
If you find your energy flagging and commitment waning perhaps it’s time to examine what is truly important to you. So right now, this very moment, take the risk of finding your unique “magnificent obsession”, your fundamental sense of why you are here on this planet. This a choice you can make. And when you do, be ready for your new-found commitment to lead you into a life you never thought possible.
Heart and Sold —Diary of a Winner
Tuesday, May 19th, 2009
I’m very excited to tell you about the new book from my friend Valerie Fitzgerald. It’s called Heart and Sold: How to Survive and Build a Recession-Proof Business. Endorsements and advance reviews sound fabulous. Larry King calls it, “A great read” and Vanna White says, “After reading this book, you will feel that you too can accomplish anything your heart desires.” Valerier is a long time friend and student of mine whose personal story is the classic rags to riches with a great deal of warmth and wit thrown in to boot.
Heart and Sold recounts Valerie’s personal journey from unemployed single parent to entrepreneur, philanthropist and renowned corporate executive. The book is a must-read for anyone in business looking to take their game to the next level. It’s a practical and illuminating guide with tips and strategies that are remarkably easy to implement. Leeza Gibbons says, “Heart and Sold is inspirational for any woman–or anyone–struggling to build a business of their own. Valerie’s personal triumph will make you feel like you can do anything.”
To order the book, simply go to: http://www.valeriefitzgerald.gesprojects.com/promo
A Special Gift From Valerie to You
In celebration of the book launch on May 19th, Valerie is providing a free Heart & Sold reflective workbook to anyone who buys the book. This workbook is a compilation of summaries and reflective questions for each chapter in Heart & Sold. To order, click here: http://www.valeriefitzgerald.gesprojects.com/promo.
Please forward to anyone you believe may benefit from hearing about Valerie’s amazing story of re-invention and her guidance on how to attain lasting fulfillment and success.
