Christmas, Hanukkah, and the Seasonal Parties are starting to become fond memories for most of us.  Many businesses are focused on the New Year and thinking about what to do different.  New Year Resolutions have come up in almost every conversation I have had this week with businesses owners.

Everything from growing the business, increasing referrals, getting more involved with the community, attending more networking events, creating more systems, increasing marketing, adding more staff, and list goes on and on.  The greatest thing about all these conversations is how many businesses seem to really be thinking about what they can do different.  How they can really improve and grow their business this year.

For my businesses focus seems to be at the top of my list.  Really identifying where I need to spend my time and making sure I hold myself accountable to where my time is spent is number one for me!  I have really thought about what my highest income producing activities are for each of my businesses and where I want these businesses to go this year.  By doing this exercise I have now identified actionable items and activities which I should do each day to achieve these goals.  I am now in the process of listing these activities and creating daily, weekly, and monthly goals for each one.

Once this is complete I will have this document in front of me each day.  It will work like a check list insuring I am doing the action items and activities on a consistent basis which will lead to my desired results.

My questions for you are what are you thinking about this week?  What are you changing in your business to insure a great 2010?  Are you willing to take the steps necessary for your success?  Are you going to attend one more networking event each month this year?  Are you going to join BNI, LeTip, or you local Chamber of Commerce?  Are you going to learn more about Social Media and how to use Social Media in your business?  Are you going to follow up with every lead you receive?  Are you going to follow up with every person you meet?  Are you going to thank the customers that buy from you each month?  Are you going to create more meaningful relationships this year?

Take a moment and share with us what you are going to do to insure your success in 2010 by joining the conversation and leaving a comment!

Building a money tree from referrals is possible for every real estate agent but you have to have a system.

Are referrals the life blood of your business?  Often times when I am consulting with businesses about referral marketing strategies they tell me that referrals are the top way they receive new customers.  When I follow up with more questions about how they generate referrals I am shocked to discover many of these same businesses have no referral strategy in place.  The referrals they receive happen by chance and they have no system to encourage or increase referrals coming into their business.

If you are one of these companies that rely on new referral business you might consider creating strategic referral sources.  Strategic referral sources or referral partners are designed to create referral relationships where you and your partnering business give referrals to each other.  This may be a business in or out of your industry.  Here are a few examples:

• Business attorneys referring Family Attorneys or Estate Planning Attorneys
• CPA’s referring Bookkeepers
• Dentists referring Family Photographers
• Marketing Firms referring Social Media Firms
• Insurance Brokers referring Financial  Planners

When meeting with possible referral sources it’s important to learn as much as you can to start the referral process.  Here are six questions you can ask your potential referral partners to insure success:

1. Can you give me an example of your ideal client or customer?
2. Please explain your biggest challenge in your business.
3. Who is your best referral partner?
4. What makes you or your company different from your competitors?
5. Are you on Social Media?  Facebook, Linkedin, and Twitter?  (make sure you connect with them)
6. Is there anything more you would like to tell me about you or your company that might help me give you a referral?

At this point you should have everything you need to start referring this person or business.  I find the fastest way to start receiving referrals from a new referral source is to give them referrals as soon as possible.  I make it a point to seek out opportunities for them as I know the more business they receive from my network the more committed they will be to referring my business.

If you start creating referral partners as strategy you are guaranteed to grow your referral business!

Business referrals are essential to any real estate agents business. Pick up the phone and make it happen.

Following up with your prospects is one of the most important steps in the sales process.  If your prospect does not make a decision to buy or retain your services at your first meeting following up becomes the most important step.

There are many ways to follow up with your prospects and one of my favorites is through gratitude and appreciation.  Before dialing, emailing or writing a note take a moment to think about your prospect and your last meeting.  Is there something you discussed in your last meeting that gave you an idea or helped you in some way?  Did you learn something new about how your product or service can help a future prospect or customer?  Did your prospect possibly give you a referral or a lead?  These are all great examples of how you can follow up with gratitude.

Think about the last time someone expressed gratitude or appreciation towards you.  Was it in person, on the phone, via email, or maybe you received an unexpected thank you card?  Think about how this small act of gratitude made you feel.  This is the same feeling you create with your prospects when you appreciate them.  This feeling creates a stronger relationship with your prospect.  By building on your relationship you are attracting your prospect to convert themselves to the sale or another referral.

Try out following up with gratitude after your next few presentations and let me know how it worked for you.  If you currently do this in your follow up process leave a comment and tell me how it is working for you.

Gratitude is one of the easiest things you can do to retain clients. Do it!

Truly shocking sales statistics as it relates to your  follow up process:

48% of sales people never follow up with a prospect
25% of sales people make a second contact and stop
12% of sales people make more than three contacts

2% of sales are made on the first contact
3% of sales are made on the second contact
5% of sales are made on the third contact
10% of sales are made on the fourth contact
80% of sales are made on the fifth to twelfth contact

Creating and using a follow up system is a guaranteed way to grow your business.  In fact with less than 52% of all sales people following up with their prospects you will not only grow your business but you will stand out amongst your peers.  And remember 80% of sales are made in the fifth to twelfth contact if you are in a market with heavy competition you literally eliminate your competitors by simply following up.

To learn more about creating a follow up system make sure you to read Creating a Follow Up Strategy where I discuss follow up strategies for existing customers.

Follow up is the key to any successful real estate agent.

Seems to me that regardless of how often Brokers or Sales Managers say not to do it, there are certain phrases that continually pop up during the course of a presentation/phone call/appointment that simply take a client’s confidence and blow it clean out of the water…Sometimes even to the point of losing your listing to another agent…losing that big sale…or even driving away a potential repeat customer.

Having said that, I ran across a blog a long time ago that listed the top 10 things that sales people should never say.  So, I thought I would take that list and go through it line by line and show you exactly what the client thinks when they hear it come out of your mouth.

So…here it goes…

“I was just in the area and thought I would stop by…” 
SERIOUSLY????  You mean to tell me that the ‘professional’ I just hired to assist me with (insert issue here) has absolutely nothing in the world better to do than to just cruise by my house and ‘drop by’ unannounced??  Why did I hire this idgit in the first place??  Why are they here?…and how fast can I get rid of them??

“Have you got a minute?”
NO!  In fact, I don’t have a minute…or 10…or the 30 that you may plan on taking.  I’m busy…in fact, I can think of 100 things I would rather do with my minute than sit here and discuss this with you right now.  (I think it would be far better for you to actually engage the customer in some meaningful conversation than to just simply give them a way out.  Yes or no questions are simply a way for them to cut you off and bail…thus, slitting your own wrists.  Skip this question and just start your pitch.  If they are really and truly too busy to talk to you, they will let you know.)

“I’ll try.”
I don’t care if you try to do it or not.  What I want to know is…CAN you do it.  If you can, great…do it!  If you can’t…tell me.  Don’t zoop my head up with a bunch of hopefulness knowing you may not be able to get this done.  I would much rather hear you tell me that you need time in order to determine if this is possible then to give me a sense of false hope.

“I’m really not sure.”
You don’t know the answer?? Isn’t this your job?  Shouldn’t you be prepared enough to be able to answer all of my questions when I ask them?  And, if you are not prepared, why am I not important enough to not be worth preparing for??  (Again, I think this would be far better answered by asking for time to determine the correct answer…If you don’t know the answer…be honest about it.  But, do it in a way that makes them feel like they are worth taking the time to get it right.)

“It’s not my fault…”
Whether you like it or not, it is your fault.  And, the reason it is your fault is because YOU are my only contact with this company that YOU represent.  Therefore, the entire situation is YOUR fault.  In fact, everything that goes wrong with this deal is YOUR fault.  Even if it isn’t directly your fault…its YOUR issue to fix.  Why?  Because YOU are the person I speak with with regards to this deal.  That makes it YOUR problem.  (To deal with this, I recommend a sincere apology and an immediate re-direction in your course of action to remedy this problem for your client right away.  And, tell me what you are going to do to fix it.  That way, I gain trust you again.)

“What do I have to do to get you started today?”
OMG!  SLIMY SALESPERSON!  RUN AWAY!  (Any rapport that you have attempted to develop with me at this point has just flown right out the window.  You would have been far better off asking me if I had any other issues or concerns that were stopping me from moving forward.  At least that way, you appear to care about ME rather than the money you will make off of me.  If I have more, address those.  If not, then tell me what the next step is that we need to do to move forward.)

“We are the lowest price in town.”
Really.  Is this really how you want to try to compete for my business?  Don’t you have anything of any merit better than this??  (It doesn’t take much effort to come up with a better presentation than price.  So, apply yourself and go another direction.  Aside from that, if your clients does in deed find a cheaper price for your service – and there is always some snake-oil salesperson willing to do something for less money – then you are a liar…and any trust you have built up to this point is shot.)

“Always” and “Never”
There is an exception to every rule.  But, I surely hope you don’t prove this correct for me…because I won’t trust you as far as I could throw you afterward.  (Unless you have it in an iron-clad contract that can be upheld in court, avoid using absolute statements like this.  All they are going to do is paint you into a corner if you are caught by the ‘Always-n-Never Snafu’.)

“What you need is….”
What I NEED???  Who are you to tell me what I NEED??  What I need is to know what my options (both good and bad) are and you to back the hell off and let me decide what I want to do…and then help me once I make that choice.  I am the decision maker here.  I will choose my option based on the facts that you presented.  But, by no means are you qualified to tell me what I NEED.  In fact, YOU need to respect that or I will find someone that does.

“Trust me.”
The mere fact that you feel the need to say this makes me want to run away screaming.  At this point, I’m starting to wonder why in the world I have listened to you this long in the first place.  I also will probably not trust you in the long run.  And, I’m simply going to assume that anyone that works with you or looks like you is suspect.  (Trust is like love.  It is built over time and the only way one can gain it is to earn it.)

Real estate agents need to learn these key trigger words and try make sure the understand how they are being viewed by the client.

Even though we may have a firm grasp on the market, a cold recitation the facts will probably not be enough to empower our clients to make the best decisions. Don’t get me wrong. This isn’t a license to mislead. On the contrary, we need to power up our presentations and here’s five proven ways:

1. Make it Real

Chip and Dan Heath, in Made to Stick, tell us about Art Silverman of the Center for Science in the Public Interest (CSPI) and how he communicated the evils of movie popcorn. You see, back then popcorn was cooked with coconut oil, and a medium bag had a whopping 37 grams of saturated fat (almost a two-day supply in one serving!). “The challenge, Silverman realized, was that few people know what “37 grams of saturated fat” means…And even if we have an intuition that it’s bad, we’d wonder if it was “bad bad” (like cigarettes) or “normal bad” (like a cookie or a milk shake).” So Art called a press conference and shared that ‘A medium-sized ‘butter’ popcorn at a typical neighborhood movie theater contains more artery-clogging fat than a bacon-and-eggs breakfast, a Big Mac and fries for lunch, and a steak dinner with all the trimmings—combined!” He even laid out all the food to drive his point home. Fatty popcorn became a national story, moviegoers stopped eating it and theaters were forced to offer a healthier product!

So instead of telling your buyers and sellers that home prices are down 11.4 percent, say that the average home price has dropped $32,000. That’s a number they can feel, viscerally. Buyers might just get off the fence and sellers may think twice about shooting for the moon.

2. Avoid Jargon

Jargon is not real. Many people make the mistake of employing industry jargon and acronyms to appear more knowledgeable, but most jargon tends to be unintelligible to anyone outside the industry. At my first and only corporate job, they talked about “CTB forms” which left my head spinning until I finally had to the courage to ask what they were talking about. It stood for “Call to Bob.” No lie.

So avoid jumping into discussions of absorption rates (how quickly homes sell) or cap rates (a fancy measure of cash flow) and take a moment to make sure your client will understand you. Simply put, never use a fifty-cent word when a five-cent word will do.

3. Use Visuals

You may have noticed that the books and course we write are chock full of tables, graphs, and diagrams. At heart, Gary has always been a teacher. Give him a flip chart or a white board and he can make just about anything clear. Research shows that as many as six out of ten adults are visual learners—seeing, after all, is believing.

So, instead of telling your buyers and sellers about how overpricing can lead to chasing the market down, pull out SHIFT and walk them through the graphic on page 146 or use the dialogue and images on pages 150 to 153 which can easily be drawn on a napkin.

4. Ask Questions

As sales professionals, we know the importance of asking questions and then really listening to the answer. Questions have the power to open minds, change the direction of a conversation, and provoke thought. If you are presenting market trends on a graph, ask the seller, “So when you look at this trend, what does it tell you about how we should price your house?” When we ask questions, our buyers and sellers get a chance at self-discovery.

How much more powerful would your presentations be if your sellers and markets really understood how the market works?

5. Tell a Story

So we come full circle to stories. Not the fabricated kind, but rather true stories that help us make better decisions. In The Upside of the Downturn, Geoff Colvin talks about firefighters. Researchers showed both groups pictures of a fire and then asked each to describe what they saw. The novices noted the facts anyone would notice: where the fire was burning, the color of the flames, the amount of smoke. The veterans told a story about where the fire had started, what it was doing at the time of the photo and where it was likely going to spread. Colvin’s point was this: veteran firefighters instinctively placed the facts in the context of a story. They did it to save lives because we make better, faster decisions when we base our actions on stories (which mirror our real life experiences) than we do on a collection of facts.

This is why we role-play. This is why we trumpet our success stories. This is why the best agents weave past buyer and seller experiences into their presentations.

So for your next buyer or seller appointment, try using one of these tried-and-true techniques when making an important point. It may just put some extra punch in your presentation and help your client make the right choice.

The art of a great presentation is one of the most powerful tools an agent has to offer. the better you are the more money you will make.

While most real estate agents understand these points well, there are still some who just don’t seem to get it, and they keep giving all of us a black-eye.  This is an attempt to educate those outliers.

Reason #1 why your listing won’t sell:  You don’t return my calls.  I have called, and called to try to make an appointment, and I cannot get you to return my call.  Your listing is clearly marked “call listing agent”, and I have done so.  I know you’re getting your messages, because the first few times I called, the automated voice told me that your voice-mail box was FULL.  And since then, it has been cleared, and I’ve left several messages.  My buyer expressed a serious interest in viewing your property, but since we can’t get inside… oh well, your listing won’t sell.

Reason #2 why your listing won’t sell: You insist on accompanying all showings, and you are just so busy that you don’t have any time available that meshes with my buyer’s schedule, to show it to us.  I’ve asked if I could drop by and pick up a key, but you’ve insisted that you must be present for all showings.  Well, this is apparently one showing that you will not be present for, because my client will not be able to view the property.

Reason #3 why your listing won’t sell: You’ve overpriced your listing.  Maybe your seller insisted on overpricing… Lord knows that happens… we’ve all been there.  But you’re the professional, try to talk some sense into your seller, and see that they understand the market.  Show them that the house next door, which is in better shape than theirs, sold for 10% less than they’re on the market for now! 

Reason #4 why your listing won’t sell: Your seller won’t leave the property during showings. In fact, your seller insists on guiding my clients and I through the house and pointing out the most inconsequential items (ie: “I installed that [crooked] chair rail myself.  That’s right, all by myself. It took me the entire weekend, but ain’t she a beaut?  By the time I was finished, I was so exhausted and so overheated, I was down to my skivvies, but I gotterdone!”). We just wanted to walk through the home, and get a feeling for it… see if we liked it. We didn’t really want a 3-hour-tour of the furnace, water heaters, and sump-pump.

Reason #5 why your listing won’t sell: You have only posted a single photograph on the MLS, and that photo sucks!  It’s a crooked, grainy picture of the front of the house, taken with the camera in your antiquated phone, clearly from the front seat of your car (because I can see the edge of your rear view mirror).  The house looks like it needs some attention, and the snow hasn’t been shoveled yet… (and it’s JUNE!!). Do yourself (and your seller) a favour and take some new photos, and this time get out of the car and use a digital camera, instead of your phone.  Or maybe, just maybe, you can find a professional to take your photos, and truly showcase the home.

Reason #6 why your listing won’t sell: Your seller has a baby and six cats and the house smells like the seller has six babies and fourteen cats, a muskrat and a dead possum.  That’s right, the place stanks!  The photos are decent, the place is relatively clean, and shows well, but that smell of ammonia and more, hits you like a wall, as you walk from room to room.  I truly don’t understand how people LIVE in the house with that strong odor.  Buyers have a rough time seeing past a stench like that.

Reason #7 why your listing won’t sell: Your seller never agrees to any showings.  All showings must be confirmed with the seller, and yet when the seller is contacted through your office, they never agree to any showings… there’s always a good excuse… the baby’s sleeping, I’m home with the flu, the floors were just re-stained, the cleaning-lady is here, my husband works the night-shift, and he’s sleeping…. whatever… I can’t sell your listing, if your seller won’t let me and my clients inside.  I’m good, but I’m not THAT good!

Clearly, this is a partial list... there are lots more reasons why your listing won’t sell.  Lots. Ladies and Gentlemen, all I can tell you is that YOU are the professionals in this situation.  You are the ones who are spending money and time on your listings.  Yours is the reputation that will be damaged by having sign in the ground of a tired, overpriced listing for two and half years.  Get control of your listings, spell out the truth to your sellers.

We’ve all been there (myself in included) … it’s not a pleasant conversation.  They won’t be happy to hear it, in fact in some cases, they might even fire you from the listing for being honest with them. But in the end, it will free you up to take care of your other listings, or work with other buyers and sellers, who actually have a chance of completing a transaction.

You have to be honest with your seller as they need to know you are the professional real estate agent not them. Reassure them that you are telling them what to do so they can make more money.

Is your business heading in the direction you want it to? Or perhaps a better question, do you know specifically the direction you want your business to take?  
As times passes and we get caught up in the day to day detail of running a business, sometimes the business starts to drift without any clear direction. Most of your time is spent doing all the work that your business requires and then little time is given to the bigger picture of where your business is heading.

Its essential that some of your time is invested in knowing clearly the direction you want your business to take. Knowing what this direction is gives you a base to measure your actions and progress against.

I invite you to stop reading just for a couple of minutes and see if you can sum up in a few sentences the direction you want your business to be taking. If you can do this easily, then great, you have direction. However, if its not something you’ve given any thought to for a while or you found it difficult sum up, now may be the time to invest in clarifying that direction.

What does not having a clear direction cost your business?

• Being busy but not achieving the results you want
• Day to day tasks are carried out without any real purpose

What does this also cost you personally?

• Perhaps frustration and lack of achievement
• Working harder than you probably need to

So, how can you achieve clarity about the direction you want your business to take?

Here’s some questions for you to consider:

• What business are we in?
• What do you want to achieve – and why?
• Are these reasons in alignment with your core values?
• Is the direction of your business in alignment with your goals?
• What do you feel easily motivated to do with your business?
• Who are the clients/customers that you most want to work with?
• Ideally, how do you want to grow my business? More clients, only a few select clients and doing more work for them?
• What are your competitors doing that you really want to incorporate into my business?

Often what is needed is some time dedicated just to thinking about, analyzing and clarifying the direction.

Day to day business can get in the way, so I encourage you to schedule in some time now. Perhaps this means a little time away from your normal business surroundings so that you can focus on this fully.

Also, you may find it beneficial to talk this though with someone else, so:

• Who can challenge, listen and brainstorm this with you?

You have to have clear goals if you want to be a top producing agent. Write down what you want and go get it!
Brendan Bartic

Deep down inside you, do you have the feeling that you’re capable of doing and being more? I’m sure that you know you have more potential than you’re currently tapping into. So, what’s stopping you from living up to your full potential? You may have no idea what it is or be able to list many things. However, they all come down to the same things and that’s fear.

Fear keeps you in a place of doubt, struggle and confusion. You need to move to clarity, belief and confidence, and this requires that you take a leap, a leap of faith. It’s a typical chicken and egg situation. Most people

want to have the belief and confidence before they take any leaps and yet your courage, belief and confidence is built when you take a leap.

Taking a leap opens you up to possibilities and allows you to reach new heights in your life, work and business. Taking these leaps prevents you from getting stuck in a rut, settling for less than, and losing your confidence and courage. It’s a muscle you need to build up and keep exercising. The more you do it, the stronger you’ll become and benefit from;

• The opportunity to open up to your uniqueness, talents, abilities, dreams and strengths.

 

• Truly feeling alive and excited.

• Opening you up to new ideas, opportunities and experiences.

• Experiencing your own personal power and ability to make things happen.

• Growing and discovering new things about yourself.

So, what’s the next leap of faith you need to take? Whether your response is on the tip of your tongue or not, the answer is inside you and just requires that you still your mind long enough to listen to it. Listen and you’ll know the leap that’s right for you to take.

Once you’ve identified the leap you’re going to take, I invite you to look and plan before you leap. If you just close your eyes, hope for the best and jump, it could be a foolish risk you’re taking. This can knock your confidence and ability to take a leap again in the future. You need to build this muscle and this means taking a calculated leap, having identified first what you most need.

I invite you to look forward and identify what it would take to be prepared enough. It isn’t about getting to the point of perfection and thinking too much because this will stop you doing it. It’s about identifying the most important things, putting them in place and then leaping. You just need to take the most obvious next leap for you and not get caught up in thinking about any future leaps.

Take the opportunity to leap, at least you’ll be taking action and it’s action that brings results. You’ll never know what will happen until you do it. Not taking leaps of faith can be costly in terms of your health, fulfilment, creativity and sense of adventure. As a springboard to taking your next leap, think back to the times in the past when you’ve taken a leap of faith and reconnect with the positive aspects of this.

If you are going to be successful in real estate then you have to get over your fears and start doing the things that make you the most uncomfortable. This will start opening doors for you and all you will need to do is walk through them.
Brendan Bartic