Top Signs Your Real Estate Marketing is Not Working

Top Signs Your Real Estate Marketing is Not Working


Could your marketing be outdated, ineffective, or even harmful for you and your business? There are several signs your real estate marketing strategy might need an update in 2017. This week we look at the top signs and what to do!

 1. Your Inbound Marketing is Being Ignored.

It’s not just about the advertisements in magazines or online. Inbound marketing focuses on providing customers with valuable content, instead of pushing out a specific message. Inbound marketing has been proven to be far more effective than traditional advertising. Pulling the customer and not pushing on them is the key to marketing success today. We pull by providing killer content that they find valuable, helpful and assists with their biggest challenges in today’s marketplace. Take a minute and think what their challenges are? What would help them with those challenges? Are you providing valuable content the consumer considers valuable or is it just the same old content we think they would find valuable?  You need to find what they are praying for before answering their prayers!

2.  You’re Using Social Media “Just Because”…

If you’re using social media just because you think you are supposed to, you likely aren’t seeing much benefit. Create a strategy beyond gathering followers. Use it to promote your content, build a community, and address any customer concerns or questions. That said, don’t use social media to just push your agenda or promote your listings or blog posts; use it to engage. Just like your inbound marketing strategies your social media marketing strategies need to provide value, solutions to pull and engage the consumers. No more ego selfless promotions posts but add value, answer questions and engage them in your social media marketing by having a plan. Create a strategy and be intentional and not just because you think you “have to” marketing strategy.

3.  You Fail to Update or Don’t have a Blog

You don’t need to contribute a new blog post every day but you should be blogging about one time a week. If you’re posting less than a month, you need to revisit why you even have a blog because you’re not likely generating much traffic from it to make it worth it. This is a long game marketing approach but an approach that will pay large dividends in the future.   The world is looking for experts and someone to advise them and a blog positions you as the expert in your community so go and take that title of expert in your community today!

4.  You Have Not Looked at Your Analytics

Everything in your marketing should be data-driven. Don’t repeat the same mistakes over again by not looking at your analytics. Carefully evaluate what your data is telling you about your audience and about their likes and dislikes. Check your website, email, and social media analytics at least once a week. You never know what the customer will value and what they will not. You need to track and measure all your marketing and your content and know what is working and what is not working. Once you know what is working then give them more of that!

5.  You Don’t Segment Your Audience

If you’re trying to target everyone, you are likely really targeting no one. You can’t be all things to all people and gain traction or own a piece of the market. Everyone gravitates to the expert or someone who specializes rather than the agent that seems to do everything and do it equally to everyone else. Figure out who your ideal client is. Focus on attracting those consumers with your marketing. “Otherwise, you’ll be wasting a lot of time and money on people who will never buy from you anyway. So many agents are residential, commercial, farm and acreage specialists!!

6.  You Do Not Rank or Exist in the Search Engines

If your business name or your name isn’t in the first few spots of the Google search rankings, you have a problem. Just try googling your name or top realtor in _________ and see what comes up? If your competitors all outrank you, you have a big problem. Focus more on mastering to get higher in the search rankings but just start by increasing your presence first. This likely will mean more content building to increase your search engine presence and ranking. Start blogging, posting video and sharing more killer valuable content to your community.

7.  You Create Lots of Content But Little Traction

Seventy-five percent of content gets zero links, and 50 percent gets two or fewer Facebook interactions, according to the site Moz. Get others to read your content by using a three-step plan: Research topics and issues your audience cares most about to use as the basis of your content; write high-quality and 1,200-plus word articles and videos about those issues; and have a plan to promote your content via email and social media. Find what they want and what their issues, needs and wants are in the marketplace and give it to them!!

So there you have it the top ways to determine if your marketing needs a makeover in 2017 and whether it is working or not. Just take one day a week to provide the killer content to the consumers that provide solutions to their issues in the marketplace and just watch what happens over the remainder of 2017!

 

The Truth about Real Estate Buyers and Buyer Agents

We have all heard or said the comment “Buyers are liars” and that is the furthest thing from the truth if we really take the time to understand them better and how they really want to be served. Let’s look first at the common buyer agent and their issues buyers say about them.

1) They don’t listen

2) They don’t understand our needs & wants

3) They have no process, they wing It and they are reactive

4) They wait vs. create a buying opportunity

5) They get us to buy what they think we should buy

6) They can’t communicate their value proposition

This week we are sharing the 10 easy and effective steps to better serve your buyer in today’s market. Taking the time to follow this step by step process will allow you to convert more buyers than you have in the past…….

Ten Step Buyer Process to get the Commitment Every time

Step 1)  The Initial Meet and Greet

Option 1 – Meet Buyer At A Listing

Option 2 – Meet Buyer At The Office (TIP – Prepare and coach receptionist to greet buyer as follows: “You must be [Customer’s Name]. We’re really glad you are here. [Agent’s Name] is looking forward to meeting with you.”

The Critical First Two Minutes – Connection & Control. Your goal is to get the buyer to like and trust you and not to rush this process. Here are simple tips on “How To Connect”

Step 1: “How are you today?” Then listen and engage with their response.

Step 2: “Thank you” or “welcome” or “compliment”

Step 3: Introduce yourself

Once you feel you are connected (nod and see if they nod back) take control of the process. “If it is alright with you, what I’d recommend we do first is sit down and get acquainted. I would like to ask you a few questions that will help me help you find the right home. Will that work for you?”

 Step 2)  The Meet – Choose a different Location (Fresh Energy!)

  • Office (Like Bringing Them Into The Death Star)
  • Meet Them Where They Are At
  • Easier To Get Them To Meet At Coffee Shop
  • Presentation On Tablet
  • Offer a gift (drink? Pen?)

Step 3) The Buyer Interview

  • Tip (Have a file made up with their name on it.)
  • “I would like to ask you a few questions that will help me help you find the right home. Is that okay with you? Is it okay if I take some notes?” (Power of the Note Pad)
  • Follow the proper question sequence: Did You Know??

a) Rapport questions

b) Foundational (prior learning) questions

c)  Diagnostic questions – who, what, when, where, why, how?

d)  Solution (closing) questions

 Step 4) Pre Buyer Packet

“I prepared a packet of information for you that has everything you need to buy real estate in [place].” Briefly review packet, point out contracts and finish with agency disclosure. (Confirm they are not under contract with another REALTOR®.)

 Step 5) The Funnel Process

“Our goal is to help you find the right home and, at the same time, make sure you don’t miss anything or pay too much. We have a process called “The Funnel Process” that will help us accomplish those goals. Would you like to see how it works for you? Great.”

“Let’s start with what you have so far. “Do you have a list of homes you have found you are interested in?” Review what they have. “Have you gone inside any of these homes?” “If it’s alright with you, let’s start by putting these homes into what we call the ‘funnel’. (Draw a funnel) To make sure you don’t miss anything, let’s also put into the funnel any home you might consider. Will that be okay? Discuss: o MLS o New Listings o New Construction o For Sale by Owner

“Once we have everything in the funnel, we’ll start a simple process of elimination to remove those properties that don’t work for you. We’ll use the comfortable process of elimination versus the often frustrating process of selection. This way we’ll make sure you don’t miss anything.”

“We’ll go from 1,000’s of properties in the funnel to 100’s and then to dozens as we begin to eliminate those that don’t work.” “Some we will look at on-line, some we will drive by, and some we will decide to make an appointment and go in. You will be in control of the decisions.”

“As we go through the process, our goal will be to find our top three favorites that could work for you (and this can be a rolling top three).” Once you have identified your favorites, I’ll do a simple market analysis showing you sold properties to help you get a feel for value. Our goal is to make sure you don’t pay too much.” “Does this look like a process that will work for you?”

 Step 6) Scale of 1 to 10 Technique

“Just for fun, to give me an idea of where you are in the process, on a scale of 1 to 10 (with a 1 being you are just starting the process and a 10 being you would like to find a home today) where would you rate yourself?”

“What would have to happen for you to be a 10?” Drill down on each item – ask questions and listen (3 Deep)

  • “What specifically about…?”
  • “Why is that important to you?”
  • “Tell me more about that.” – Take notes. (Power of the Note Pad!)

 Step 7) Pieces of Paper Exercise

(Give each person a piece of paper) “If it is alright with you, I would like each of you to make a list of the things you want in a home. After you have made your list, put stars beside the three things you can’t live without.”

Step 8) What & Why?

Features and benefits.

(What) Features

(Why) Benefits

Remember: People buy their “whys” (benefits) not their “what’s” (features). Explain the concept of the “85% perfect home”

Step 9) Cash? Loan”  House to sell?

“Will you be paying cash for this home or will you be getting a loan?” If getting a loan: “Do you have a loan arranged? Do you have a lender?” “While I’m doing the computer work for your MLS® search, would you like to meet with my [Name of Lender] for a second opinion?” “There is absolutely no obligation to use [Name of Lender]. However, it will give you a second opinion.” Benefits to them of second opinion? Do the preliminary MLS® search while they meet with the lender.

Step 10) If we find it…What will you do? (story)

So there you have it the 10 simple powerful steps to convert and get a commitment from a buyer in today’s market. I challenge you to try changing up how you are dealing with buyers today and follow this tried and true buyer system and see your experience with buyers go to a whole other level.

 

How to Compete in a Sellers Market

Today’s Market has shifted and the majority of the country is experiencing what we call a Sellers Market, where the inventory levels are low and the buyer demands are higher than normal.

So many real estate agents are now struggling with the challenge of how to compete in this “Seller’s Market” so this week we look at some of the ways in which we are able to adapt to the current market trend.

Let’s start with what the biggest challenge we are facing when market conditions shift and that is the challenge of managing the buyer’s expectations and doing this right up front in your buyer interview process. It is critical we advise with our buyer what is happening to the inventory levels and what is happening with the buyer’s market demands.

What is the #1 thing a buyer hires us to ensure for them?

Making sure they don’t pay too much or more than they should for the home they are buying.

So why do we allow so many of our buyer’s to just write any old offer at any old price?

On the other hand if we upset the listing agent and the seller where they now don’t care how much you and your buyer will pay, they just don’t want you to have the home now or you’re paying way more than you should for offending them all.

Solution… “Show and sell me” and “don’t just tell me”, the buyer has been in the driver seat in some of our markets for many years so you just telling them what is happening with supply and demand is not enough.

Take the time to show the numbers and statistics and even better the graphs and visuals for the buyer to see and feel what is happening with the inventory levels, average days on market, absorption rates, average listing to sale price percentages, full price and above asking price sales and in some cases multiple offer scenarios.

Pull off some listings that are excellent examples to demonstrate the facts showing they are in a seller’s market and what does that mean for them. They need to understand the days of low balling offers and taking your time to make a decision have come and gone and they need to be strategic and quicker than they were before.

Without being pushy, explain what we call “Murphy’s Law” that “Mr. and Mrs. Buyer this home you see today and go home to think about tonight may be the same home that another buyer saw yesterday and will buy today.”

Another great strategy in this type of a market is to have all the financing in place before you even begin looking, never mind begin writing offers on homes.   Make it a rule that a buyer would take the time to meet with my preferred lender in advance to ensure we had no surprises and no disappointments; we all know the highest cause for collapsed sales is always because of financing.

I encourage us all to take the time to sit with the buyer and determine whether we are buying a “home” or a “deal”?

“You know what Mr. and Mrs. Buyer? There is a difference in what we are paying and what we are getting when buying a “home” or buying a ”deal”. It is our job to determine if they want a home or a deal, Right?!

In some of our market areas and some of the price ranges we may be experiencing extreme competition for the better homes and the possibility of multiple offers arise and taking the time to educate the buyer on some of the strategies to winning with these offers.

Present all offers in person face to face with the seller and the listing agent when in multiple offers whenever possible.

Ensure the buyer attends the offer presentation and show the seller they are there, serious and ready to act.

Make the deposit on the offer as large and enticing to the seller as possible.

Be flexible with your dates, offer to have seller rent back or take time to find another suitable property.

Be sure to leave your acceptance time on your offers fairly quick as to not allow the seller to play the competing bids against each other or to allow more time for other offers to come into play.

If possible do all your due diligence including the property inspection prior to writing and presenting the offer.

You may even offer to pay the sellers closing costs or (if applicable) have the buyer offer to throw in the use of their recreation property or time share property to the seller to add incentive to your offer as well.

This may sound corny but stats say your odds increase 9% by writing a letter to the seller for your agent or their agent to present to them about how owning their house would affect your buyers lives, maybe even attach a photo of your buyers and work at tugging on the seller’s heart strings.

Gone are the days where we would take the time without breaching our fiduciary duty and ask the fellow listing agent a few excellent questions to prepare a cleaner and better offer for our buyer.

Questions like… what comparable did they use to determine their asking price and why not exchange the listing agents comps and your comps for your buyer in advance of writing and presenting an offer?

How many showings?

How many offers?

Advise you of another offer?

Preferred dates?

Inclusions and exclusions?

Have they found another home?

What is more important to the seller? Terms? Price? Both?

Keep the offer and conditions as clean as possible.

The final and most important tip in a Seller’s Market is not making offers with a buyer who has a property to sell first. Get the buyer’s home under contract before you even attempt to compete in a market where there is competing buyers and low inventory levels.

I trust some of these strategies will allow you to compete at a higher level in seller markets.

 

How do I schedule more real estate appointments?

We all know in real estate communication is everything and how we feel on the inside is what is coming out to people on the outside through your words, tone and energy. We all want the client to feel good when we communicate with them so it starts by us feeling good ourselves! You can’t be a lean mean appointment setting machine if you are someone who is sad, angry, depressed or totally stressed out on the inside because that is coming out in some way on the outside to the people you are communicating with.

So get right on the inside so you can be right on the outside and really attract, engage and make people feel good and feel like you are someone they really need to get together with! Let’s give you some more tips on becoming that appointment setting machine.

1. Know your customers pain and know their problems.

Examples: market conditions, past purchasing experiences. There are only two things in our lives that “move” people to take action and that is the avoidance of pain and the desire of pleasure. What are the buyers and sellers challenges? Fears? Frustrations? When you begin to share with the client about their pain they feel you really understand them and feel like you are in tune with them and want to connect with you and hear the solutions you can offer them.

2. Know your dialogues.

If you want to be good then you have to practice! The most in demand type of training in our industry today is role playing but it is the kind of training that is avoided the most and not practiced at all in our industry. So many agents say “I hate scripts” “I don’t want to sound canned” Sorry but these are the same agents who don’t do high volume and are not great communicators in the industry and this just makes it easier on the rest of us. When you know what to say and how to say it, you can be more in tune to your customers’ needs.

3. Get to the point!

Example “I’m calling today to schedule an appointment…” I love the line “Why sell with blah blah blah when you can sell with blah?” or “If you don’t ask and get to the point then you don’t get!” So many times we find ourselves talking too much about “nothing” and actually forget to ask for the order or get to the point of the conversation. Have the courage to ask for the appointment and get to the point sooner than later. My favorite technique is the alternate choice close when you give the client two options for setting a time. “Would tomorrow at 2 pm be good or Friday at 1pm be better for you?”

4. Stand up when you are making appointments and keep your hands free of objects including when you are on the phone (use a head set). Your body controls your tonality and your emotional state. It is amazing when you stand and your hands are free and open what it does for you and your energy levels. People are
engaged by your energy, passion and excitement and want to connect with you when you have that kind of enthusiasm. Standing keeps your body, breathing and mental state at a peak level and has a huge impact on your conversion rate for appointments.

5. On the phone = 20% effective sensory communication. You need to remember when you talk you are only engaging in one sense out of five. It is critical you speak clearly and slowly and be on point throughout the discussion. This is so important because you don’t have the non-verbal communication components now which make up the majority of communicating. They can’t see your body language, facial expressions, eye contact and hand gestures over the phone. All you have is your voice, tone and inflections to get the message across when trying to convert the appointment.

6. Get the fear out of the way with these 3 questions: For a lot of us it is uncomfortable talking to someone we just met so knowing what to ask and let them do the majority of the talking makes this part so much easier. Here are three excellent and engaging more dialog questions to get you past the fear and awkwardness of converting sales appointments.

1) What’s the worst case scenario?
2) What’s the most likely scenario?
3) What’s the best case scenario?

In addition to getting better at sales appointment conversion you also have to make sure you have the best environment possible for making those appointment calls so here are some great tips for creating the right environment for converting more appointments.

1. Appointment Tracker – Visual. Make it visual; think big appointment calendar.

2. Appointment Setting Shrine. Use a foam presentation board. Put pictures of your family, how much money you want to make, and even a mirror.

3. Eliminate All Distractions. Things like the voicemail light, messy desk, or having the Internet open in front of you can be distracting.

4. Stand Up Vs. Sit. You sound more confident on the phone when you are standing up versus sitting down.

5. Music. Find your favorites that work best for you.

6. Plant. Having a plant in your office can help improve your mood.

7. Get a good headset! Wireless Plantronics headset works great.

When you put together all these steps you can’t help but get better on appointment setting and remember, by removing the client’s fear it is easier for them to take action and for you to set appointments.

Here are some action steps for you to put this into reality.

1. Review this content daily.
2. Get your environment set for making appointments.
3. Practice the communication tips above.
4. Set those appointments!

Are you ready to take your appointment setting to the next level?

 

Is your voice mail or email making or costing you money?

You’ve heard it before in order to grow your real estate business you need to focus on those 20% of activities that produce 80% of your results. For example, following up with your past clients, cultivating new and existing referral partners, implementing marketing systems that work while you’re not working. If all that stuff is so important why aren’t you doing it consistently?

The chances are it’s because you allow yourself to get distracted, interrupted and derailed by a steady stream of inbound interruptions like phone calls, emails, text messages, faxes, tweets, instant messages and walk-ins. Well it’s no wonder you have such a hard time getting things done, just look at all the distractions. The truth is most of these urgent distractions could be easily delayed, delegated or deleted because at the end of the day they’re not really that earth shatteringly important that they have to be addressed immediately.

Most realtors can’t even have a five-minute conversation without being interrupted by an inbound phone call or text message. That’s why most realtors are working more and more hours and making the same amount of money. They have made the mistake of confusing activity with productivity. Two totally different things. It’s not like they don’t have any answers either… in fact there are more books on time management and productivity than any other time in history.

At the time of creating this post there are 41,100,000 results in Google for time management tips. Anthony Robbins says we’re drowning in information yet we’re starving for wisdom. So what’s the solution that can allow you to regain control of your time and actually start focusing on the things that really matter? Like working on your business not just in your business? As mentioned before there is no shortage of solutions. What we really need more than anything else is a real gut level commitment to stop allowing all these distractions and to take back the focus of control and to start doing business on our terms. Here is a great tool that can help you make this happen.

A real time voicemail script and auto email responder. Yeah you heard it right,  a voicemail script and auto responder… if done right will allow you to turn off your phone and stop reacting to emails for 2 to 3 hours without losing any business. They will help you schedule more time for implementing your marketing, it will train your clients on the specific times you reply to phone calls and emails and position yourself as an expert who is successful and highly sought after.

It also attracts more referrals and repeat business. Your voicemail and auto responder might go something like this. “Thank you for calling/emailing the office of John Smith, your realtor for life, I’m currently out of the office serving a client right now, rest assured my commitment is to provide you with exceptional service that inspires you to refer your friends and family. Due to high workload I am currently checking and responding to my voicemails and emails twice per day at 12 noon and 5 PM so please leave me your name phone number and a detailed message on how we can serve you.

If you’ve been referred to me, please leave the name of the person who recommended my services to you so I can thank them immediately for their endorsement. Thanks again and have a wonderful day.” So there you have it. We have just given you a killer voicemail email response script that you can implement as early as today to see an immediate boost in your productivity. Now it’s time to take action and be proactive and not reactive!!

 

Top 10 Reasons Why You Buy/Sell Over the Winter

The #1 objection all agents are getting from real estate buyers and sellers is “we are waiting until spring.” So having the ability to change how the buyer and seller feels about waiting to buy or sell until the spring is imperative to your winter real estate success!! The fact of the matter is, the reasons and myths are endless so it’s our job as REALTORS® to be equipped with facts and a strong reality check to combat these reasons we hear every day. To help you through the winter season we put together some of the top reasons a client would want to choose this time of year to buy, sell and list a home.

Top Reasons to Sell Over the Winter

#1 – Only Serious Buyers Looking
Yes there are fewer buyers, but those buyers are usually very SERIOUS about making a purchase or many HAVE to make a purchase. Who else would want to look at buying during the winter?

#2 Less Listing Competition
Most sellers wait until the spring or summer to list, so your home will have far less competition
Spring = Greater supply = Same Demand = Less Money

#3 – January is the Biggest Corporate Transfer Month
More corporate relocation moves happen during January than any other time of the year.
Catch the corporate relocation buyers while you can.

#4 – High Attentive Efficient Customer Service
By putting the home on the market during the winter you experience better, personal and faster customer service from movers, lawyers, banks, insurance providers etc. Listing realtors have more time to better serve their sellers and get all the marketing strategies in place.

#5 –  More Time to Get Top Dollar
By starting to market your home early, you may be able to secure a higher price with more listing exposure time. This season allows a seller to not be in a rush to sell and allow for more market exposure time and ultimately generate a higher price than in the spring.

#6 – Time to Sell Now, Buy in the Spring
If your home sells quickly, you will be able to shop for your next home during the winter, a great time to find a bargain!
More time to look and not pressure to shop and beat the other buyers. Sell first and then buy in the spring when the inventory and selection begins to rise for you when you are the buyer.

#7 – Stand Out in a Smaller Crowd
Most REALTORS® and offices have less inventory during the winter, enabling your home to stand out even more.
Less marketing noise out there for the buyers and they see your home with ease now.

#8 – 20% of Homes Sold During the Winter
Buyers and Sellers are usually quite motivated to get the transaction completed. We still have 20% of the business in the year occurring during the winter.
This can mean less price haggling and fewer hassles during the process.

#9 – Non-Contingent (Subject to the Sales) Buying
By selling now, you may have an opportunity to be a non-contingent buyer during the spring, when more houses are on the market!
Less “subject to the sale” offers from buyers and you are not one of them when you are buying your next home.

#10 – No Yard Work When It Snows
Great time for a home that needs a yard make over to sell.
No need to worry about your yard work. Snow makes it look fresh and white.

BONUS…

#11 – Buyers Time Everything Too
Buyers begin the search and purchase for spring moves in January, February.
Busy move times are March Spring Break, April Easter, May long weekend and July long weekends

#12 – No Pricing Wars With Others
Less choice for buyers means less sellers to play pricing against each other
Buyers will often make more concession in their buying decision with less choice

#13 – Holiday Magic Show Time
Property shows well, almost staged with holiday décor adding to the ambiance.  Tis the season for your home to shine!

#14 – Higher Quality Showings
Little chance of quick showings and not being prepared to show your home.
Easier time of year to make appointments and give sellers advance notice.
Higher quality showings

#15 – Right Buyer, Right Time
The odds are the same for the right buyer looking at your home regardless of the season.
Right buyer, right time, right home


Top 10 Reasons to Buy Over the Winter

#1 – Little or No Competing Offers
Little or no chance of multiple or competing offers for the buyer during this time of year.

#2 Buyers Receive Better Customer Service
Better service from all service providers like the agents, banks, insurers etc. Not as busy now.

#3 – Seller Motivation Increases
Sellers motivated at this time of year if still trying to sell from summer or fall.
Sellers willing to negotiate, been on the market for some time now. Give and take.

#4 – Expired Listings Available Now
Buyers can shop the expired listings market, which has the largest selection this time of the year.

#5 – Better Closing Options
Good time of year to make an offer and do the due diligence, buyers can move quickly now or slower in the spring if not in a rush.

#6 – Alternative Housing Options
Easier for sellers to find alternative housing, not as much pressure finding a rental vs. the really busy spring and summer season.

#7 – Subject to the Sale Acceptable.
Great time for buyers to make contingent “Subject to the Sale” offers and get them accepted and movement on the price.

#8 – Better Available Moving Services
Easier time for a buyer to move and find help and services like movers, cleaners, storage.

#9 – Smoother Mistake Free Completions
Better timing for buyers on completions with lawyers, banks land registry. Not that busy and time to attend to you now.

#10 – Buyer Competition Lower
Less competition for the same property from other buyers on the deals that pop up this time of year.

Now that you’re equipped with ammo to overcome any objection, debunk the myths and go out there and list and sell some real estate this winter season.

 

Are You in Control of your Money or is your Money in Control of You?

At a seminar presented by T. Harv Eker on the Secrets Of The Millionaire Mind a crowd of nearly a thousand people were all asked to bring with them a $100 cash bill to the evening session of the seminar for an exercise to teach about mindset and the blueprint we all have about money. Everyone was asked to hold up their $100 bill and if you were unable to bring that bill with you then you were politely asked to leave this part of the seminar and demonstration.

A few of the seminar staff lined up in front of the stage with burning candles for the crowd to begin to line up and prepare to burn your $100 cash bill to prove to yourself you are in control of your money and money is not in control of you. A wave of emotion come over the crowd as some people were getting angry and others are started to cry and others were showing no sign of emotion of what they have been asked to do.

They slowly asked the crowd to stand and begin to line up in front of each of the staff members holding the open burning flame and let the emotions and energy build and build in the room. Then at the very last second they said “ok, everyone sit down and put your $100 bill away and start journaling what you experienced and what you felt through that exercise.”

So how would you feel about doing that? Would the money control you or would you be in control of the money? Would it make you mad, sad or feel nothing? Here are seven powerful tips from Clason’s novel “The Richest Man In Bablyon” and strategies for you to implement and be in control of your money in real estate and not the money in control of you.

  1. A Part of all you earn is yours to keep.
    The most powerful and most important message you read and hear from all experts in financial prosperity. “PAY YOURSELF FIRST.” Clason refers to this as “Starting thy purse to fattening” He uses the story of the humble egg merchant. If the egg merchant put ten eggs in his basket each morning and take out only nine by evening. Eventually what will happen? It will in time become overflowing. Or how about every ten coins you place in your purse you take out and use only nine. Your purse will fatten and soon will build increasing weight and bring you great satisfaction. Create a second account that is difficult to access and take that one egg, take that one coin and let it build and overflow over time. Just like this merchant you too create an account at a different bank and set up automated withdraw into this account, that can’t be readily accessed to build up your purse.
  2. Control your expenditures
    “BUDGETING” – All men are burdened with more desires than they can gratify. We have this false idea we can gratify our every desire. Clason states there are limits to your strength, limits to the distance you may travel, limits to what you may eat and limits to the zest you may enjoy. The key to controlling your expenses is taking the time to really identify your fixed expenses and eliminate or minimize your non fixed expenses. Discipline yourself to live lean and mean. Pay yourself your fixed expense amount at beginning of the month. Review Constantly – identify habits; implement cost savings i.e. basic cable or even no cable. Apply the same principle to your business accounts.
  3. Make your gold multiply
    “INVEST” – The greatest opportunity and wealth building strategy we all have is buying what we know… Stocks, Bonds, Mutual, Commodities, Mortgages, Rentals, Loans etc. Clason states a man’s wealth is not the coins he carries in his purse but it is the income he buildeth, the golden stream that continually flows into his purse and keeping it bulging. Amortization in wealth building is key… Example: Only $5,000 per year or $416 / month Invested. Over 10 years – at 5% becomes 66K at 15% becomes 116K… Over 20 years at 5% becomes 173K at 15% becomes 589K.
  4. Guard your treasures from loss
    “INVEST WISELY, CONSERVATIVELY” – Start by investing small amounts and learn to protect and grow those first. Clason said every man is tempted by opportunities where it would seem he could make large sums by its investment in the most plausible projects. So often we are urged by friends or family to eagerly enter these high return investments. Remember the risk or penalty is probable loss. TIP – borrowing to invest. Ask your advisor for their personal net worth statement. WORDS OF WISDOM – Invest only where the principal is safe and where the principle may be reclaimed if needed and where you will not fail to collect a fair return. Consult with wise men. Secure their advice and let their wisdom protect your treasures.
  5. Make of Thy Dwelling a Profitable Investment
    “OWN A HOME” – To a man’s heart it brings gladness to eat the figs from his own trees and the grapes of his own vines. To own his own domicile and to have a place he is proud to care of and put confidence in his heart and reward behind his endeavors. Discipline yourself to pay this home off. Blessings to the man who owneth his own home. Greatly reduces his cost of living and making available more of his earnings to build his wealth.
  6. Insure a Future Income
    “SAVINGS” – It behooves a man to make preparation for a suitable income in the days to come, when he is no longer young and to make preparations for his family should he be no longer with them to comfort and support them. It is important you maintain savings and have funds put away for many different reasons. Health, emergency expenses, major financial setbacks or economic down turn. You will get old. You may get sick. You will die one day and you should be prepared. TIP – wills, insurance life & disability.
  7. Cultivate, Study & Learn
    “BECOME A STUDENT” – Constantly improve yourself and become more skillful. Act on these principles and have the discipline to learn and implement them. Then begin to teach them to others including your own children. Clason reminds us “There is more gold in Babylon my students than you could dream of. There is abundance for us all.”

So there you have it, 7 powerful financial laws that made a difference with my control over money vs. the money having control over me. I challenge you to implement these strategies into your personal and professional lives and take control over the finances and win the money game.

 

Top Ten Things Top Producers Do To Take Their Real Estate Business To The Next Level

It is so important to understand the behaviors of top producers and what it is they are doing to propel their business to the next levels. Success is easy to achieve in real estate if
you understand sales and the art of customer service. Why is it that so many agents don’t take the time to invest in the proper real estate behaviors?

Top 10 Real Estate Behaviours of a Top Producer

1) Daily Focus On Lead Generation & Prospecting Top producers are constantly communicating with people and they are looking for someone who is wanting to buy or sell. They understand the importance of filling their appointment funnel. This activity is blocked in their schedule every day to ensure that their business doesn’t experience the highs or lows of most real estate agents and their business. It is like a professional golfer they are at the range every day and hitting their share of golf balls to ensure their success.
worm2) Prospect & Lead
Generate In The Early Part Of The Day
We have all heard the term “the early bird gets the worm” or “eat the frog first” which means do the most important activity in real estate being prospecting early in the day because the longer we wait the higher the chance it doesn’t get done. We have all the distractions come at us as the day goes on and the chance of getting the prospecting done diminishes quickly. We have less distractions in the earlier part of all of our days in the office when almost no one is around and the phones have not started ringing.
3) Tough On Pricing Their Listings The top producer knows what to say and knows how to present the pricing with a seller and has the skill to take control and explain to the seller the importance of proper pricing. We have all heard the term “less is more” and with pricing the tougher we are on the price the more the seller will make if we are strategically able to create multiple offers from pricing their homes sharply. Don’t let the seller win the pricing debate and have the visuals and words to say when facing the pricing war with sellers.
4) Focus On The Appointment  The mindset of a top producer when they are prospecting is not ever on the leads and the amount of leads they can generate but their focus on the number of bona fide and qualified buyer and seller appointments they make. It is about the quality and not their lead quantity and will the buyer or seller appointment be with someone who is having to buy or sell in the nest 7 or 10 days. Get the appointments and not the leads because the appointments lead to sales presentations and getting them to sign the contract.
5) Track & Measure –  Knowing their numbers for everything they do in real estate is critical to their success. They know what they do well and what they do not do well. They know the best sources of where their business comes from. Their prospecting numbers, closing ratios and conversion rates of everything. This shows where they are improving and where they need improvement and the gaps and hole in their business from tracking and measuring constantly.
6) Review Their Business Plan They are always working with a business plan and reviewing their plan and constantly looking for ways to improve and tweak or fine tune the business plan. They are focused on their plan from their constant review of the plan and know what they need to be doing every day to accomplish their goals. Nothing is left to chance and there is never any guessing involved when you are following and reviewing a business plan for your real estate business.
7) Fanatical With Schedules

 

If you do not take control of your time, someone else or something else will. Time to a top producer is like water of oxygen and it is so precious. Time is always blocked for lead generation, prospecting, lead follow up, appointments, sales presentations, preparing and negotiating contracts which are all high dollar productive activities. They are intentional and almost fanatical with every minute of their day and know that dollar productive activities trump all.
8) Scripts, Dialogs & Sales Presentations Top producers are effective communicators and understand better than anyone what to say and how to say it when it comes to any buyer or seller situation they encounter. They practice over and over the right words to say and the right ways to say it and have the confidence in themselves and earn the trust and respect of others quicker because they have put the time in practicing and preparing for every situation they may face in real estate.
9) Standards   The minimum standards are set for everything they do in real estate. A minimum standard for number contacts they make. Minimum standard for number of sales and listings. They even have minimum standards for their buyer and seller sales presentations. This standards are set and never compromised they understand the how you do anything is how you do everything.
10) Don’t Get Emotionally Involved Last but not least we see that all top producers are so good at being charge neutral when it comes to any situation in real estate. They remind themselves that at the end of the day it is not their money and it is not their home and it is not their decision and don’t allow themselves to become emotionally involved in the transactions they are working on. Take it from a twenty plus year veteran this is so much easier said than done.

 

We have taken the time to look at the behaviors and habits of the top producer and I hope you can see what you are doing and what you are needing to do to take your real estate business to the next level.

Converting to the Sit down…

Our emphasis on lead generation for real estate agents the last decade has really created an epidemic for the industry. We can just buy leads now and make it rain if we want, so having the skills and the ability to convert the lead to an appointment isn’t that important any more because we just buy another lead!

Isn’t it time for our agents to develop their appointment conversion skills and get the client to want to sit down and meet with them and close for the appointment?

It is great that lead generation is readily available to agents, at a hefty price I might add but all those leads and no buyer and seller appointments still doesn’t pay the bills at home or create the lifestyle an agent is looking for. So, here is a strategy I feel helps an agent convert more appointments and create the desire for a client to want to sit down for the appointment.

1) Start by writing out the current challenges, problems and fears a buyer in your current market is having. Then do the same by writing out the challenges, problems and fears a seller is having in your current market.

2) Ask appointment engaging questions specifically addressing the buyer and sellers challenges and fears.

  • Out of curiosity are you folks having a difficult time finding what you are looking for?
    • Are you folks looking for a deal or a home? Their is a difference you know.
    • Do the homes you have found have offers on them or have sold already?
    • Have you tried to buy without having your existing home sold?
    • Have you been in a multiple offer situation or lost in a multiple offer?
    • Are you concerned you will list your home and it will sell and leave you homeless?
    • Are you relying on traditional sources for listings that all have a 24 to 72 hour delay getting to you?
    • Are you subscribed to an automatic listing alert system that notifies you when something like what your want hits the MLS system?

3) These questions help the buyer and seller discover their fears and challenges in today’s market.

This also makes them feel like you know what they are feeling and experiencing which will cause them to want to speak with you more! “This agent knows what we are facing and seems to get us… Not just asking me about my money and if I am preapproved!”

4) Close for the appointment! “I have a direct client program that offers solutions to these current firsttime-buyers-mortgagemarket challenges… I would love to meet with you and share them all. Would today at 4pm work or tomorrow at 2pm be better?”

If people can feel like you really understand them, the market, their fears and the challenges they face and that you have a solution for them, why would they not want to meet with you? What’s the worse thing that could happen other than they learn something they didn’t know.

Try this appointment converting strategy and start converting more appointments. The appointments in real estate really are where the money is!!

 

How to Create that Perfect Week in Real Estate

Scheduling a Balanced Week as a Realtor is Vital to Your Success

How important is it taking a blank week schedule template with the days of the week running across the top and the time of day from 5 am to 10 pm running down the side and scheduling that perfect week?

We all have heard the advice “finish your week before it begins” and “time block” and “planning is important” but so few people actually take the time to design the perfect week before it even begins.

The fact that no two days in real estate are alike is a blessing and a curse for agents. We feed off the excitement but also get off track from the distraction of this type of business.

So, what’s the best way to stay focused and achieve the highest results while juggling the demands of our personal and business lives?

It is to create and follow a predetermined, detailed scheduled course of action and stick to it!

Routine, schedules and habits minimize the decisions we have to make each day and the fewer the decisions we have to make the better we do in business and life.

You probably don’t think you can follow a schedule or routine but you would be surprised how much you already do. Take brushing your teeth, combing your hair and the things you eat are all things just in the morning you do the same way over and over.

 

clouds_dream-1483097 1.     Define Your Why? – What is the biggest reason for doing what you do for a profession? What is the one thing you love that gives you purpose in what you do? What are the dreams and goals that drive you to go to work every day? Take the time to define your purpose… your why… your dreams and your desires in life and clearly write them down first. Doing this step helps insure the most important things to you get proper placement on your schedule.
tumblr_ly2c8jmxum1r4dfvho1_500 2.     Then take your schedule and begin with time for YOU – In order for you to be good for others you need to be good yourself. Take time to read, rest, listen, exercise, have fun including holidays and traveling and enjoy your closest friends and family members each day and week into your schedule first. Who? What? Why? What are the things that make you better physically, mentally and spiritually? Schedule them first!
what_should_i_say 3.     Learn what to say and how to say it – So many new agents don’t know what to say and how to say it and so many top producing agents have forgotten what they learned to say and how to say it in this business. Schedule 30 minutes a day and review your presentations, dialogs, objections and really internalize them to be that effective and engaging communicator. It can be as simple as what you say and how you say it when calling a past client. “Hi this is ________ calling form ____________ realty how are you today? This is a business call. Of all the people you know who do you think will be buying or selling next?” Obviously you need to add the personal relational dialog to it but really think how important it is to know how to ask for the business? This simple practice will give you confidence and help refine your customer dialogue to peak efficiency.
prospecting (1) 4.     Prospecting and Lead Generation time – Now that you are warmed up by taking 30 minutes to become a better communicator you are ready for lead gen. Blocking at least 2 hours a day for prospecting and lead generation is critical to any real estate agents success. This is face to face or voice to voice activities or personal hand written notes that will create listing and buying appointments for you and your business. We all know if you don’t take the time first thing in the morning to practice the communication and to prospect and lead generate first thing in your day, there is always someone or something else that will rob you of your day and it will never get done.
download 5.     Schedule your appointments for buyers and sellers – We need to be scheduling appointments in real estate. When are you at your best? Morning? Afternoon? Evening? To be able to engage and effectively convert those buyer and seller appointments into listing and buyer agreements. The successful appointment is the appointment that leads to written agreements like listing and purchase contracts which is the reason behind the appointment.
Do-doing-done 6.     Schedule time to work on your business – Prioritize your activities with a simple system like a “To Do – Doing and Done” board to visually see where you are at and choose what is important and priority when it is written out in front of you. Take 3 white boards and place them on your office wall. To Do. Doing and Done on each of the white boards in your office. This simple system keeps you on task and get the things that are important done first!
3-d 7.     Always use the 3D test – Everything you do and schedule always ask yourself is this the best thing form me to DO? For me to Delegate? Or for me to just Dump because it is just not priority or important enough?

 

When agents have a clear, scheduled detailed plan of what the ideal week personally and professionally looks like and is clearly defined and laid out for them each week they eliminate the decisions, guessing and know the importance of what actions are priority to them personally and professionally.

Eliminate the “chaos” of real estate and life and have a clear picture of what it is you want and what it is you need to do and when to do it to accomplish that dream of living the good life.

I have attached a blank template for you to begin creating your own perfect week… follow the steps I suggest when you fill in the slots and I trust you will start living the life you were meant to live in real estate and life.

Click here to Download a Blank Spreadsheet