Like the budget, writing a production plan for success is a lot about numbers. Black and white. Hours, dollars, and widgets. There is a sensible layout to follow. You map out the big picture by breaking down your transactions to quarterly and monthly goals. You examine the buyer sales, listing sales, and number of new listings it takes to produce the income needed to support the budget. Easy, right?
Well, straightforward, maybe. Easy, no.
Production planning is as much about problem solving and perspective as it is about the numbers. Why? Because you know you will not always hit your numbers. (If you do, you probably were not challenging yourself enough during the visioning process.) And not hitting the numbers obviously means you have a problem. You may be overspending the budget and/or underproducing the income. Not hitting the numbers for an entire quarter might not just mean a problem, but a genuine crisis.
So it is important when production planning to focus not just on target numbers, but on the potential problems related to production so that you can plan proactively to stay in business with a smile. Lets look at some Givens.
#1You are in control of more than you think. If you chart the numbers for first quarter and fall short, what do you do? (First of all, you always review the numbers.) If first quarter is lean, be prepared for you and others to blame outside influences. Oh, the market. Oh, those fickle buyers. Oh, those unrealistic, so-and-so sellers. Oh, those banks. Slap yourself and your teammates awake! The market is what the market is. Buyers and Sellers are simply responding to it. YOU are the expert. YOU need to take control. Take control of their expectations. Take control of your own emotions. Adjust your numbers if necessary for the rest of the year, but take control of your sales. If you were successful before this market, there is absolutely no reason you can’t be successful now. You have the experience and the skills. If you are new to this market, you have no excuse to be anything but successful because you don’t know the difference! If you were three sales short in the first quarter, plan now what it takes to make up those three in quarter two.
#2 There are some things you cannot control. Let go! A teammate’s sudden divorce is going to affect your business. No doubt about it. Can you influence that event? No. (Even if you offer the unhappy couple an all-paid expenses weekend at the Poconos in a heart-shaped tub, their relationship will not change because of your generosity and desperate attempt at keeping your top buyer agent happy and productive.) Curse fate all you like, but know that the teammate will have court dates, down days, and need extra time off to be with the kids. Let go off the idea that life is unfair and provide as best you can for the loss in production through your own efforts or added staff. Know that these things happen. Deal.
#3 Not to overuse and abuse the often quoted, Attitude is Everything, but it is. The mindset you get up with every day determines the success of your production plan. Is the market everything you read about in the papers or hear about on the TODAY SHOW? Is the sky really falling? If you believe it, your numbers certainly will reflect that view, (and you will need to hope that your spouse doesn’t mind supporting you for some time to come.) On the other hand, if you wake up each day seeing opportunity and, yes, fun in the current real estate market, your numbers will bloom and grow with every positive step. It’s not a Pollyanna world, but neither is it Oscar the Grouches. Your perspective determines outcome.
Plan for the numbers. Plan for the problems. Plan for success.
With the constant bad news about the economy, everyone is talking budget these days as if it were a new and exciting phenomenon—just discovered!
How to save a buck
How to budget for a successful future
How to make your dollar stretch the farthest
The truth is that there is nothing new, trendy, or sexy about budgeting. A well-planned budget is simply the most practical aspect of your business plan—and one of the most important. It’s also not that much fun. But if you think about it, if you have completed the other parts of your business planning guide, you’ve done the hard part already. You’ve already analyzed where you spent your money last year and how well it returned your investment. You’ve articulated the vision for your business in the next year, five years, and ten. You’ve written down the action steps to achieve that goal. Now it’s just a matter of the numbers.
The easiest way to tackle this job is with a good software program like QuickBooks, but you can also manage the old-fashioned way, by hand on a chart, if that’s what it takes to get you started. The budget records your total income, gross and net. It includes the numbers for your current expenses, plus those you anticipate adding under your new vision. It breaks down the expenses and itemizes them so that nothing is overlooked, creating a potential drain on your cash flow down the line. And remember: cash flow is the goal.
When the numbers are complete, if you don’t like the result, you need to remember to reevaluate the plan. If your marketing exceeds your income, for example, then you must make a decision: slash the marketing budget or make more money. Either way, your budget needs to “show you the money.”
Approach #1: Gary Keller reminds us to “lead with revenue” when budgeting. He cautions only to spend the money that the business has generated and avoid the “Field of Dreams” mentality of expecting business to materialize if you spend enough money on marketing, desk staff, quality equipment, etc.
Approach #2: Write down the number of marketing dollars you will need for the next year to reach your goal then do the math. How many lists will you need to carry in order to create that cash flow? How many will you need to sell? How many buy sides? Those are your numbers to live by.
Truth be told, a combination of these approaches is probably the wisest course, but regardless, the budget is the budget and you stick to it. (That’s the unsexy part.) But don’t worry about that because this axiom can serve you well when some annoying vendor tries to convince you that you really must buy his refrigerator magnets by the gross with your logo embossed on them in order to be a success at the next home show. You now have your ready-made excuse: “oh, we set our marketing budget last October.”
The budget might not seem to be your best friend at times, but it should be your wisest adviser—the one you trust with your most important decisions. Accordingly, spend enough time with it to do it, and yourself, justice. Your business, and your profit/loss statement, will thank you.
It is almost time to begin creating your Business Plan for next year. One important part that is often overlooked is what I call the Development Plan. A Development Plan helps you to look at your overall business in different specific areas.
A great story is told by Jeffrey J. Fox in HOW TO BECOME A MARKETING SUPERSTAR. It is the story of Pablo Picasso, dining at an elite New York City restaurant and being approached by a socialite who presumes to ask him for a drawing.
Fox relates, “Picasso grabbed some paper, and with pen and pencil, promptly sketched the waiters passing parfaits. As the woman reached for the sketch, Pablo Picasso said, ‘Madame. That will be $10,000.’ Shocked, she replied, ‘But that only took you five minutes.’ ‘No, Madame,’ replied Senor Picasso, ‘it took me fifty years.’”
Fox tells the story as a parable for understanding—and charging--your worth. (And come to think of it, that part of the lesson applies here, too: a solid development plan will help you avoid the folly of cutting your commission fees.) But we recognize Picasso’s remark about the fifty years as a clear symbol of the value of a development plan. It takes time to plan, but the plan should have long-lasting consequences that shape the course of your business down the road and, ultimately, your desired profit. A development plan, in effect, defines your practice.
A development plan can be as simple as a list. But it is an essential list. On this list you need to itemize the changes needed in the next year to improve your business. On it you should include:
Marketing and Lead Systems
What kind do you need to bring in the number of leads?
Sales and Servicing Systems
Technology
What about Facebook?
What about Twitter?
What about Texting?
People and Staffing
Do you need an office manager?
Support Systems
Training
Policies
What are they? And are they written down?
Procedures
Ditto
Team Development
Retreats
Celebrations
Training
New Ideas
What is next?
This is the place where you name your dreaming: what is it that you want to create? To revise and perfect? To research? To implement? What kinds of systems and practices do you want to employ? What people and roles?
At the development stage, you may be looking at assistants, additional agents, coaches, mentors, equipment, programs, and education. (Budget concerns are for another day.) In development, we identify what it will take to produce your desired outcomes. Put them in place, and the path toward your business future is paved.
I am often asked, “What do you say when a For Sale By Owner seller says [asks]…?” I always have an answer for every FSBO objection, but only because I have the advantage of both knowledge and skill over the FSBO seller. Here is a list of common FSBO seller objections and a quick follow-up statement for the listing agent.
They say: “I’ll save money. I won’t have to pay realtor commissions.” You say: “Well, you may save a portion of the commissions; did you know that over 90% of the For Sale By Owner homes are sold by realtors?” (FSBO response) “So, we are really talking about saving the seller side of the commission. Is it worth saving a small percent of the sales price, knowing you will eliminate the vast majority of buyers from even looking at your home? When would you have time to discuss a plan for selling your home?”
They say: “I am going to see if I can sell it on my own.” You say: “Good! Have you considered what type of buyers look at For Sale By Owner homes?” (FSBO response) “Agents work with qualified buyers, people that have the means to secure loans or may be cash buyers. What arrangements have you made to assure your potential lookers are qualified buyers?” (FSBO response) “That is interesting. Do you have time this evening to get together to discuss a plan for pre-qualifying buyers?”
They say: “I have an ad in the paper and I’m going to put it on Craigslist” You say: “Wonderful. What other methods are you using to expose your home to potential lookers?” (FSBO response) Do you have time to meet this weekend so I can share a few other ideas with you?”
They say: “I have someone who is interested.” You say: “That’s great news. Are you aware of the pre-negotiation strategies that will assist you, as the seller, to secure the best possible offer without waiting days upon days?” (FSBO response) “Would tomorrow morning work for us to review the strategies?”
They say: “My friend is an attorney, so she is going to do the paper work.” You say: “The four big steps in getting your home sold are: exposure, responding to buyers, negotiating and the paperwork. I am just curious, how is your friend going to assist you with the other three big steps?” (FSBO response) Would you be able to meet tomorrow during the day or in the evening to discuss these three big steps?”
They say: “I can’t afford to list with a realtor. I need every cent of the sales price.” You say: “I understand. How did you determine your sales price? (FSBO response) “Great! Are you very familiar with the current market facts?” (FSBO response) “Would you have time to meet Monday or Tuesday evening to review the current housing market facts? I could do an estimate of proceeds for you to help you determine your bottom line.”
They say: “I can pay $500.00 to have my home on the MLS.” You say: “Great! The MLS is one way to expose your home to agents who are working with buyers. What plans have you made to expose your home to buyers who are not yet working with realtors?” (FSBO response) “Would five or seven o’clock work for us to review how we capture interested buyers?”
They say: “I don’t think realtors are worth their money.” You say: “Selecting a top realtor is a serious and important process. How many realtors have you interviewed for the job of selling your home?” (FSBO response) “Why don’t we meet this evening and I can assist you in writing the key questions to ask every realtor you interview.”
They say: “I know my home better than any realtor.” You say: “I am sure that is true. I am going to be in your neighborhood previewing homes that compare to your home. Knowing your competition can give you a huge advantage. Would you like to join me?” (seller response) “Do you have any other selling concerns I can assist you with?”
They say: “I have a friend in the business who is giving me advice.” You say: “Great! We can make your friend a partner in the process of selling your home and not miss any valuable market time. That way you know you’re getting the best advice. Can you meet tonight?”
They say: “Will you cut your fee in half if you sell the home?” You say: “No. Are you very familiar with how the brokerage commission splits work through the MLS system? (FSBO response) Would you have time to meet tomorrow afternoon or evening?”
They say: “What can you do that I can’t do to sell my home?” You say: “There are several factors that go into selling a home. A seller is responsible for and in control of two of the major factors (condition and price); the location is a given, and the forth factor is the realtor’s responsibility (marketing). Would you have time tomorrow to discuss the four factors?”
They say: “I heard that agents will still show my home if I just have it on the MLS.” You say: “It is true, that some may show it. What arrangements have you made for compensating agents that show your home?” (seller response) “I may have some suggestions for you on how to attract more agents. Are you available tonight to discuss a few options?”
They say: “I do not want unsupervised people in my home.” You say: “You’re right. Security is an important issue. However, as realtors we take several steps to maintain the security and integrity of the home buying process. Are you available this evening to discuss the steps we take to keep homes secure?”
They say: “I sold my last home myself.” You say: “Good for you! What has to happen before you will consider interviewing a top agent who can get your home sold?” (FSBO response) “Can you meet this evening?”
They say: “I just want to try selling it myself for thirty days.” You say: “Ok. I’m curious, if I brought you an offer that was 95% of that amount, how would you proceed?” (seller response) “If I could get you top dollar for your home in the next 30 days, would you list today?” (seller response) “Can you meet this evening to review our plan?”
Two Plus One
On the surface, FSBO objections have a dual focus: brokerage commissions and price of the home. After extensive interviewing or conversation, the peel back process will reveal the underlying concern or the true objection. The one big objection all FSBO sellers have in common is simply: realtor worth (or a lack of understanding of our value.) The challenge is getting the FSBO seller to understand and accept your value. One strategy is a comparison of your efforts (marketing, exposure, response time, access, availability, follow-up, feedback, legal forms, representation, fiduciary duties and negotiations) to their efforts (an ad, Craigslist, maybe MLS, limited web exposure, a sign, a friend in the business, or whatever). Once the comparison is made it should be a simple close.
Your Value
As realtors, you all compete against each other for listings. In the FSBO arena, your competition is extended beyond realtors to the actual seller. Your competition is the seller. Remember: Do not insult or belittle the seller’s efforts. They believe they can do your job and do it better. Focus your presentation on your worth, your point of difference, the true value you bring to the table. This is the only way to be a true champion in the FSBO arena.
I am often asked, “What do you say when a potential seller asks…?” I always have an answer for every objection, but only because I keep the objective of the conversation IN MIND at all times. Here is a list of common seller objections and a quick follow-up statement for the listing agent.
They say: “I am going to try to sell it myself.” You say: “I am just curious, how do you plan on marketing your home?” “…representing the buyer?” “…responding to buyer leads?” “…being available for buyer showings?” (seller response) “If you had a proven plan for selling your home at top market value, would you be interested in using it?”
They say: “I am not going to give my house away.” You say: “Good! I prefer to work with sellers who believe in the market facts and are willing to negotiate from a position of equity and strength. When would you have time to get together?”
They say: “It is not a good time to sell.” You say: “I know that it is almost counter-intuitive; the supply and demand ratio indicates that this is a good time to be on the market. We are at a _____ month low in ‘homes for sale’ inventory. The demand remains high due to the low interest rates, the tax credit and the declining number of foreclosures available. Do you have time to meet this weekend?”
They say: “I am going to talk with other realtors.” You say: “That’s fine. Help me understand. What is it that other realtors will provide you that we have not discussed?” (seller response) “Would tomorrow morning work for us to review the differences between my plan to sell your home and my competitor’s ideas?”
They say: “We have to do several things prior to listing our home.” You say: “The two big steps in getting your home on the market are meeting with a realtor and preparing the house for the market. Would you be able to meet tomorrow during the day or in the evening to discuss them?”
They say: “We are waiting for the neighbor’s home to sell before we go on the market.” You say: “What could possibly be more convenient to potential buyers than having two homes in the same neighborhood available at the same time? I am going to preview your neighbor’s home, would you like to join me?” (seller response) “Would you have time to meet at your home after our preview?”
They say: “Yeah, but my home has (seller’s exceptional home feature).” You say: “If both properties are equal except (seller’s exceptional home feature), and both homes are priced the same, then your home will be the first to sell. Can you meet tonight?”
They say: “I know most people don’t like busy streets, but we think it is a real advantage to be so conveniently located.” You say: “Location is always a factor for potential buyers, and we will secure feedback from every buyer who views your home. When is better for you to meet, Monday or Tuesday evening?”
They say: “I want to sleep on it.” You say: “That sounds good. I will call you in the morning to see if you are ready to put your home on the market. Do you have any other questions on the selling process? (seller response) “Do you have any other selling concerns I can assist you with?”
They say: “I have a friend who may be interested in purchasing the home.” You say: “Great! We can make your friend a ‘timed-exclusion’ to the listing contract and not miss any valuable market time. That way you know you are getting top dollar in today’s market either way. Can you meet tonight?”
They say: “I want to fix a few things first.” You say: “If you do not mind, I would like to review your list with you. Just to make sure the items you are doing will ‘help’ the sale of your home and be worth your investment. Would you have time to meet tomorrow afternoon or evening?”
They say: “I am too busy with the holidays coming up.” You say: “I understand the extra effort the holidays take. However, what we have found with the holidays is that homes look and show their best when they have received that extra holiday touch. When do you expect to be ready for the holidays?” (seller response) “How would the next day work for us to meet?”
They say: “I heard that there are companies that will put my home on the MLS for a small fee.” You say: “This is true. What marketing and services do they provide?” (seller response) “I took a few notes, are you available tonight to compare those notes to our marketing and service plan?”
They say: “We want to think it over.” You say: “You’re right. This is a huge decision. However, if you are ready to list your home, we can do the paperwork and I will hold it until you are ready to go on the market. This gives me the opportunity to prepare the ads, flyers, recordings, and home show.” (seller response) “Is there something specific holding you back? How can I assist you with your decision?”
They say: “I don’t want to sign a long contract.” You say: “Ok. I will simply work with you as a temporary listing client rather than a full client. It will not impact the representation you receive or the marketing efforts. It only restricts us for the ads your home will be eligible for. It’s your decision. When are you available to meet?”
They say: “If I can not get $xxx,xxx, I cannot sell.” You say: “Ok. I’m curious, if I brought you an offer that was 95% of that amount, how would you proceed?” (seller response) “If I could get you top dollar for your home in the next 30 days, would you list today?” (seller response) “Can you meet this evening to review our plan?”
The Key to Successful Responses
When responding to potential seller objections, it is not a matter of being through, accurate or adding value. Rather it is important to acknowledge the seller’s concern(s) AND close for the appointment. Only the best closers (successful realtors) completely understand that over 90% of the public does business with the first vendor of service they meet eye-to-eye. Once you have the appointment set, you will have the opportunity to clarify and reveal seller motivation. The bottom line result is more appointments equal more listings equal more satisfied clients.
The Next Step
Of course, if you set an appointment YOU must have a PLAN. If 90% of being successful is being there, then the remaining 10% is what you do once you are there. Think it through, do you homework, and make sure you are prepared. Nothing adds to a confident presentation than being prepared and rehearsed.
No doubt about it: when you set out to complete your goals, you will need a functional team to support you. Think back to your goals. Are you going to be able to handle that kind of volume and all the paperwork and follow up that goes with it? Probably not. Chances are, you will need a team of assistants and buyer agents to help support you as your business begins to grow. Team members may wear many hats, and you will need to structure your organization to facilitate your desired outcomes.
A visual representation is a great place to start. Physically draw out the team. Who is/are the lead agent(s)? Who leads the listing team? The buyer agents? Who is in charge of managing the office? Marketing? Technology? (If the answer to all of these is ME: rethink your business plan and reread THE E-MYTH REVISITED by Michael E. Gerber.) A key question when planning is: do I need to hire more people? In addition, seeing which person wears which hat, and who reports to whom, is extremely useful in tracking the success—or lack thereof--of the business. One of the best books to use as a resource when you are planning your team is THE MILLIONAIRE REAL ESTATE AGENT, by Gary Keller. Although he has newer book SHIFT, most of my clients are seeing another shift in the market and are once again working on building and strengthen their teams.
Understanding the difference between a group and a team is critical. (And you may want to be mindful of how you name your business accordingly: “The Jones Group,” for example.) In brief, a team centers around a common goal to which all members commit. Job descriptions are unambiguous and stated in writing. There is buy-in to the success of the team, not just an individual. Team members are accountable to one another. A team celebrates successes and problem solves together. A group, on the other hand, is loosely (if at all) structured and adheres to no clearly defined goals. A group is about daily work and outcomes, (vs. vision and goals) and one person is usually “in charge” to reap the success or to feel responsible for failure. Whereas a group can serve a single purpose, a team creates a business dynamic that enables success and growth.
Teams require management. Be prepared to facilitate team needs. Be prepared to mentor and nurture as the team develops. Plan for meetings carefully. Build in accountability to goals and review them weekly. Be consistent in leadership. Your team members, and your sanity, will appreciate the effort.
Remember that teams grow and change. When writing a business plan and when hiring on team members, you need to keep in mind that the job description of today might be entirely different a year from now. (Sound familiar? How many of us were foreclosure experts until recently?) A team member who demonstrates the capacity and willingness to learn beyond the immediate landscape is a great asset to your business. Real Estate is dynamic. A good team not only plans for change, but embraces it.
As a real estate agent, it is important to know your value. “Your value” is determined by what you have to offer the consumer. It is important to remember that consumer perception is consumer reality. Every agent on the path of success must be able to answer the following question from a consumer’s point of view. (We all need to answer a version of this very basic question and answer it very, very well.) The question is: Why should a consumer work with you instead of another agent? Or, why should a client work exclusively with you, instead of having several agents search and show them homes? Or, why should a buyer express complete loyalty to you, instead of calling every listing agent in town? Your answer should compel the consumer to select you, and keep the consumer from moving on to one of the next agents.
Your value proposition is your personal thirty second ‘elevator speech’ answering the WHY question: Why should a home buyer pick you? This thirty second answer will prove to be helpful at an open house, a social gathering, answering a floor call, responding to an email, responding to a sign-call, meeting a ‘come-show-me’ request at one of your listings or the first time you meet any none-contracted buyer. Like all thirty second answers, your answer needs to be well thought out and planned.
Your value proposition planning begins with listing all of the services you provide to buyers. Your list may include: MLS access, automatic notification of new properties, market knowledge, negotiation strategies, process knowledge, one-stop-shopping and the list goes on and on. All of the services agents provide can be viewed as the ‘features’ agents provide to buyers. However, simply giving a potential buyer a list of features is over-whelming and full of jargon. This list has meaning to real estate agents, not to ‘Joe Consumer’. For an example: If an agent boasts that they have auto-notification, MLS access and top service, what appeal does that have to a potential buyer? What if agents, instead, convert their list of features to a list of how the consumer will benefit by choosing them. The same example would sound like this: I offer access to all homes currently for sale; I give immediate notification of all new homes to the market, and I will show you properties at your convenience. The second example gives the potential buyer the benefits of working with an agent and is consumer focused. From your initial list of services or features you provide, comes your list of benefits or your value proposition. Your value proposition will compel a potential buyer to pick you.
Here is the step-by-step process to building your value proposition: Step #1 List all the services that you provide for buyers. Step #2 Determine which three services do you do best. Step #4 State how you provide the three services. Step #5 Clearly identify what benefit your client gets from each of the three services. Step #6 Write down the three benefits and practice verbalizing them until you are comfortable saying them.
Now that you have a value proposition, you may want to evaluate it. Will your value proposition be compelling enough for buyers to want to work with you? Is your value proposition giving the message you intended? Evaluate all three parts of your proposition by selecting the correct quadrant on the Johari Window. First, is the statement ‘client directed’ or ‘agent directed’? Second, is the statement a ‘consumer benefit’ or an ‘agent service/feature’? It looks like this the attached table.
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Coach Cheri Alguire has helped thousands of Real Estate Agents develop their Unique Selling Proposition. Sign up for your FREE 20-minute Coaching Session today at www.ProRealEstateCoach.com In one session you will develop your Unique Selling Proposition. Find out firsthand the value of knowing your worth to consumers. http://www.RealEstateBusinessResources.com
I am often asked, “What do you say when a buyer asks…?” I always have an answer for every objection, but only because I use a method for analyzing every objection. Here is a list of common buyer objections and a quick follow-up statement for the buyer agent.
They say: “I am too busy to make an offer or even look right now.” You say: “I am just curious, is there a way you can schedule your week so you can home search for two hours? I don’t want to see you lose the opportunity of the $8,000 tax credit and low interest rates.”
They say: “This home faces the wrong direction. I want more southern exposure.” You say: “If this house faced south, would it be your new home?” (buyer response) “Good!” “Tomorrow we will only view southern exposure homes. Does 6:00 work for you?”
They say: “I don’t think the market has hit bottom.” You say: “How will you know when we are at the bottom?” (buyer response) “The supply and demand ratio indicates that there are only _____ homes per buyer. This is a clear indicator of turn in the market.”
They say: “My hours may be cut, or worse yet, I may loose my job.” You say: “Help me understand. What is the difference between your monthly rent payment and your qualifying payment for your new home?” (buyer response) “If I may ask, where do you plan on living if you lose your job?”
They say: “I do not know if I can get a loan.” You say: “The two big steps in getting you into a home are meeting with a realtor and meeting with a lender. Would you be able to meet with our lender tomorrow during the day or in the evening?”
They say: “Something better might come on the market.” You say: “What would make another home better?” (buyer response) “Are you willing to risk losing this home, the neighborhood, and the great price for a hope of greener grass?”
They say: “My credit score is low.” You say: “I would think twenty minutes with our loan officer will clarify your concerns. Is Tuesday or Wednesday better for you to meet with our loan officer?”
They say: “I have a lease on my apartment.” You say: “Have you explored the options for an early vacancy?”
They say: “I want to sleep on it.” You say: “That sounds good. I will call the listing agent first thing in the morning to see if the home is still available and then I’ll call you. Do you have any questions on the property I can get answered for you?” (buyer response) “Do you have any other purchasing concerns I can assist you with?”
They say: “I have a home to sell.” You say: “Have you established the value of your home?” (buyer response) “Would Monday or Tuesday work best for me to preview your home?”
They say: “I want to be closer to my workplace.” You say: “Are there other factors that impact your location choice?”
They say: “I am too busy with wedding plans.” You say: “Are you familiar with the home search process?” (buyer response) “What is your target date for being in your new home?”
They say: “Interest rates may go down more.” You say: “What rate are you hoping to capture?” (buyer response) “Let’s look at the current rate and your dream rate and calculate the monthly payment difference. Are you willing to lose this beautiful home, location, and great price for _____ per month?”
They say: “We want to think it over.” You say: “You’re right. This is a huge decision. However, I have to give you fair warning with as little pressure as possible. If you are ready to write an offer on this home, other buyers may also be ready to write. Being first to write will make a difference in negotiating the best possible price for you.” (buyer response) “Is there something specific holding you back? How can I assist you with your decision?”
They say: “I don’t want to sign a buyer contract.” You say: “Ok. I will simply work with you as a customer rather than a client. I will assist you with gathering information so you can make informed decisions. However, you need to understand that with any home listed by my brokerage, I will be working in the seller’s best interest, as they have signed a contract with our brokerage for full representation. If you sign a buyer’s representation agreement, you are legally represented as well.”
Cute, Quick or Quip
When responding to objections, it is not a matter of being cute, quick or quip. Rather it is important to discover the circumstances or reasoning that caused the objection. In doing so, you clarify and reveal buyer motivation. The bottom line result is better service and satisfied clients.
Clarifying Buyer Motivation
Use a two-step process for clarifying buyer motivation: The first step is to determine if the objection is house related or not house related. Step two is to determine if the objection is within the buyer’s control or not within the buyer’s control.
If an objection is house related and within a buyer’s control, this is person is buying. All you need to do is satisfy the objection and write the contract.
If an objection is neither house related nor within the buyer’s control, you have a long road of educating the buyer ahead of you. This buyer will need market facts, successful buyer stories and a lot of patience on your part.
The objection that is not house related but within the buyer’s control needs to be peeled back and indicates a buyer is ready to purchase. Peeling back the objection through concern and questions should reveal a missed step in the process or misunderstanding that the buyer has. For example, the buyer may not be sure about the purchasing range or how they proceed to buy the home.
On occasion an objection will surface that is house related but outside of the buyer’s control. This is also a buyer that is ready to purchase. To satisfy the objection you need to firm up the buyer’s criteria through questions that focus on price, condition, location and amenities.
The following Johari window will assist you in understanding the two step process I use for clarifying buyer motivation.
I have had an enormous response from you all about the first set of Real Estate Scripts. I had a couple of you send in more examples of objections and some that felt like they were being trapped by the expired real estate leads they were talking to.
It is true; some consumers like to set traps for unsuspecting agents. Armed with an attitude of sincerity and motivated by the opportunity to secure a new listing, every agent needs to avoid the traps set by expired home owners.
They say: “If I can’t get $XXX,000 for my house, I can’t afford to sell.”
This statement sounds innocent, but sets a major condition for taking the listing. A pre-set price without clarification or reasons is a trap to avoid. I suggest you simply reply: “I am just curious, how did you determine that price?” The objective for your curiosity is to ‘peel-back-the-onion’ or to reveal the expired seller’s motivation for having a pre-set price, not to mention the expectations that may exist with that price. Because the property has expired from the market, the price was probably rejected by the market. (But always keep in mind the possibility of location and condition as reasons for a property expiring.) Peeling back the seller’s motivation is key in determining your next step. An expired seller’s motivation for pre-selecting a price can range from: simple greed to having a second mortgage to another agent priced the home to the seller looked on-line at Zillow to the price reflects current tax assessed value to the cost of their new home or future lifestyle costs. Once you determine the motivation or reason behind the price tag, you can select your next step in successfully listing or walking away from the seller. Without peeling-back-the-onion, you may foolishly spend your time and money AND emotional energy. Avoid the trap of motivational ignorance.
They say: “How come you did not sell it while it was on the market before?”
There is nothing innocent about this statement, and it likely makes every agent cringe. This is the ‘blame trap’ and caution needs to be exercised. There are two clear directions an agent can take to avoid the pitfalls of the blame trap: One is to address the emotional feelings of failure of the expired seller. I suggest using the ‘feel-felt-found’ strategy. “I understand how you feel. I have spoken with many other sellers who have felt the same way. What they found is once we go through the factors that impact a home successfully selling, they understand why all buyers and agents may not see or show every home on the market.” “Would you be able to meet this evening or tomorrow to discuss these factors?” The second strategy is to directly address the factors or reasons all agents and buyers do not see every home. I suggest an introduction like…”There are several reasons that every buyer or agent may not see or show a home for sale. All of the reasons are related to five factors: Price, Location, Condition, Amenities, and the Exposure your home was receiving while it was on the market.” I like to follow-up this statement with a series of questions related to the results of the previous agent’s marketing. “How many showings did you have?” “How many open houses did you have?” “And, how many lookers were at the open houses?” “Did you have any second showings?” “Did you have any offers?” My intent should be clear. I am taking control of the conversation and collecting valuable information as I show real interest in the expired seller’s home. Avoid the blame trap.
They say:“Can you send me some information on your experience first?”
This request comes in many forms and I call it the ‘pre-condition trap’. It may be worded as: “Can you send me the price you think you can sell my house for before we meet?” Another way the ‘pre-condition trap’ is used is when a consumer suggests you drop off your market ahead of time. And the most common ‘pre-condition trap’ is, “how much do you charge?” In an attempt to be respectful of the seller’s wish, I immediately close for a time when they will be home, giving me the opportunity to meet them and quickly review the information they have requested. It sounds like this: “I have a brief resume of discussion points on my brokerage and my personal experience. When would you be available for twenty minutes?” Avoid the pre-condition trap.
They say:“Have you ever sold a house in my neighborhood?”
This is a challenge for the majority of agents. After all, we can only have a definitive number of sales in a year’s time. More important than the direct question is the motivation behind the question. The seller’s motivation for asking will determine your response and course of action. You may want to ask: “I am just curious, did your last agent have a lack of knowledge about your neighborhood?” Or, “Are there some benefits of living in your neighborhood we can use to market your home?” Or, “Are you asking if I can service a listing in this location?” Do not dodge the question, but do ask for clarification. Usually, only one agent will dominate a neighborhood and it is probably the expired agent. I call this the ‘statistically improbable trap’ and it can be tricky if you are not prepared. Avoid the statistically improbable trap.
They say: “How about if we just list it with you for a month and try it out?”
The ‘test-drive trap’ is very common among expired sellers and we cannot blame them for being a little cautious. After all, they may have endured a six month contract with zero showings and very little contact with their previous agent. Embrace the ‘test-drive’ with empathy and a guarantee. Here is a possible response: “I understand that you want to be cautious about entering another long contract. How would you feel about a ‘seller service guarantee’? If we do not provide the service you are expecting, we will cancel the contract --- no fees?” This response is not for every agent. If you do not intend on servicing the listing and providing a list of service points with a guarantee, then you will need to respond differently. Avoid the test-drive trap.
They say:“I am frustrated that our house has not sold yet.”
This is not an objection. This is a statement of feeling. Use empathy and paraphrase their feeling. But, do avoid the possible trap of becoming their counselor. Remember, you run a real estate business not a counseling center. You want to establish yourself as their real estate market expert, not the human emotions expert. Try this: “I understand how you feel. I have spoken with several other people that have felt the same way. They have found some comfort in understanding the current market conditions. When would you have twenty minutes for me?” This should sound familiar; it is the ‘feel-felt-found’ strategy. Avoid the counselor trap.
They say:“I don’t think our agent did their job.”
Remember OUR Code of Ethics and stay true to its spirit and avoid the ‘mud-slinging trap’ at all costs. Try a response like this: “What did your last agent do that you liked?” And follow with, “How could have the last agent improved their performance?” This is a great opportunity for you to hand-craft a marketing program for your new listing. The expired seller is giving you their personal list of dos and don’ts. What could be more valuable when listing a home? Take advantage of this opportunity. Avoid the mud-slinging trap.
They say:“My last agent was not able to sell our house in six months, what makes you think you can?”
Repeat after me: “We are not interchangeable parts!” And believe it! As many different and unique brokerages as there are, there are equally as many levels of training and agent proficiency. I like to answer this question with a simple statement: “When can we sit down and compare what you experienced over the last six months with what I am offering?” Or, “There are three basic reasons I think I can secure a buyer for your home. When can we sit down and discuss them?” Remember: Not all agents are created equal, and we all need to develop our personal Value Proposition. Avoid the interchangeable-parts trap.
They say: “My last agent did not do much to sell my house. I think I am going to try it myself.”
The ‘give-up’ trap is a signal of readiness for a hungry agent who wants to work side-by-side with a motivated seller. And treat this opportunity just that way: “It sounds like you are motivated to sell your home and have some ideas on how to get the job done. Am I right?” “Would it be all right if I stop over tonight to discuss your ideas and possibly make a plan for your home?” The key is to dignify the seller’s ideas and see if they fit your marketing plan. It may be as simple as having the seller preview the flyers, MLS input, photos and 800 recording prior to the list start date. Some sellers just want to be empowered. Do it! Avoid the give-up trap.
Tip from the Coach: When a consumer offers an objection in the form of a statement or question, the consumer has an underlying motivation, reason or concern. The key to successfully handling all objections is to reveal that consumer’s motivation.
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Coach Cheri Alguire has helped hundreds of Real Estate Professionals take their business to the next level of success. If you would like to submit some objections for an upcoming article, or would like to know more about Coach Cheri’s coaching programs, go to http://CoachCheri.com
In pervious articles, we focused on targeting a niche, the WHO that benefit most from your services. Now we turn our attention to generating leads from that given niche and creating a marketing plan for success (the HOW.)
Once you have identified the WHO, you must set about a plan to communicate with them in order to capture that business. Don’t neglect a single person within the target. If you have singled out a particular neighborhood, for example, every waiter from every restaurant and every manager/owner of every business in that area should know your name and game. A branded, consistent image is essential, and you should carry—and leave it—wherever you go. The persona you present should be just as consistent: friendly, competent, and willing to help.
Master marketing blogger and author Seth Godin reminds us that marketing is simply a matter of spreading ideas—but that the very action of dispersing those ideas is a powerful force. He suggests that your marketing be a form of storytelling: let the consumer know you and your business through a memorable narrative. The story can be told in print, such as a glossy brochure or easily remembered business motto or slogan, but it also should be told through every visual image you present to the public as well: your website banners, stationery, postcards, etc.
Let’s use for example your target neighborhood again. You have identified the WHO in the niche and now want to reach them. They are a mix of upper-middle class singles and families, mostly professional, who support their neighborhood through school and community events. The neighborhood houses a city park, a few small, locally owned restaurants, and a scattering of businesses. What is your marketing plan to attract them? What story will you tell?
First, be visible. Be present in the neighborhood, supporting it. Live in it! If you are handing out flyers (or sponsoring?) the local half-marathon, everything that represents you and your business should be immediately recognizable: your logo, your colors, every image that tells your story. If you want to connect in this neighborhood, shouldn’t your photo on your website and promotional materials include an image of that park? If you are a runner, the consumer should see you in those shorts. A volunteer? Publish the image of your cause with you in it. To paraphrase the humorist, Nora Ephron, “everything is copy,” so get out there and get your story told with the real—and relevant--details of your life. Second, be different. Seth Godin also warns us that “people only notice the new.” (ALL MARKETERS ARE LIARS, 2005.) The truth is, there are an awful lot of people who do what you do. So what do you do that is so different? Or how can you change what you do to be different? “Hot pizza, 30 minutes or less” is a differentiating distinction in a business of countless competition. You can’t “provide the best service” and be considered different from all the rest. But define the best service, and perform it, and you will succeed. We know of one real estate team that grew to become the top producers in their market by answering phone calls in five minutes or less, emails and text messages within ten minutes. They advertised this difference and delivered on it, convincing the public that they were interested in providing them immediate attention and service. Listing appointments included “the test:” potential sellers calling anonymously from a coded listing, only to have an agent return the call within five minutes and ask if they needed assistance on a particular home. Slam dunk.
Third, be active. Do not confuse having a “marketing strategy” with having an “action plan.” You must invest your time, effort, and dollars in securing the specific marketing resources which target your clientele and give you the best return on your investment. Big doesn’t always mean better, but then again, sometimes it does. Do your homework. Select media which fit both your budget and your goals. Then put your plan into effect.
Finally, analyze results. Track every lead to its source of origination. In that way, you can determine which marketing resources are working best, and which are most cost effective. You will know when and how (much) to change only if you track and account for your leads.
In the end, it is pretty simple: Tell your story well to as many people as possible.
With so many agents working on getting expired listings, my clients have been asking me to help them work on scripts during our coaching sessions for advice on how to deal with objections from expired real estate leads.
Remember, the expired listing is going to be bombarded with calls from other agents who are also trying to get the listing. It is very important to build rapport with the seller and to set an appointment. Once you are sitting with them, you will be better able to explain how you can help them get their home sold.
If you are using these scripts on the phone or even at their front door, always try to set an appointment to present your listing presentation when all decision makers can be present for as soon as possible. That same day would be great.
These are only some of the objections my coaching clients have received in the past few weeks. These are the responses we came up with to learn and use to handle those objections and questions. What kinds of objections and questions are you getting? Submit your question here http://www.prorealestatecoach.com/pages/contact-us.htm and we will get back to you on a specific response as well as include the best questions on a future Scripts posting.
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They say: “If I can’t get $xxx,000 for my house, I can’t afford to sell.”
You say: “I understand your concerns. Have you looked at what you will net if you get that amount? Let’s take a closer look at the numbers including what it is costing you each month that you don’t sell and have to pay for expenses with the property. Could I stop by and explain those numbers to you later today?”
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They say: “How come you did not sell it while it was on the market before?”
You say: “With the current market we are in, there are so many houses that are similar on the market. In order to get your house to stand out on the Multiple Listing System that agents use to search for available houses for their buyers, it is important to market it so that it stands out among the rest. Can I share with you how I market homes differently on the MLS than I do for potential buyers in, say, the newspaper? Can we meet later today?”
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They say: “Can you send me some information on your experience first.”
You say: “I would be happy to get you a brochure and some information on how I can help you get your home sold. I would hate for you to miss any time on the market, however. Can I drop it off with you this evening? That way you can get your home listed again as soon as possible. What time is best for you?”
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They say: “Have you ever sold a house in my neighborhood?”
You say: “Even though I have not sold a home in your specific neighborhood, my marketing philosophy is to really market the home’s strengths. I believe one of your homes strengths is being in the (insert neighborhood name) and it’s proximity to the elementary school. What do you think are your home and neighborhood’s best features? I would love to show you how I’ll fit those strengths into my marketing materials. Can we set up a time for me to come over and explain my marketing plan later this evening?”
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They say: “How about if we just list it with you for a month and try it out?”
You say: “With today’s current marketing conditions, it is taking longer for some properties to sell with the competition on the market. Let me explain the marketing plan I would use on your property and explain what I would be doing in the first month as well as the next months after that. I am sure you will be impressed. “
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They say: “I am frustrated that our house has not sold yet.”
You say: “I understand your frustration. With the changes we have seen in the real estate market over the past year, the average days a home is listed on the market has increased. One thing that I offer is an updated market analysis on a regular basis to make sure we have your home listed at the right price even with new homes selling and new properties being listed in competition with you. To help ease your frustrations, how often would you like to receive this information while your house is listed?”
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They say: “I don’t think our agent did their job.”
You say: “I am sorry you feel that way. I know your past agent and he is a good agent. However, what would you want from your next agent that would make it a better experience?”
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They say: “My last agent was not able to sell our house in 6 months, what makes you think that you can?”
You say: “I know it is frustrating that it is taking longer to sell your home than you anticipated. I have a marketing plan that has helped me sell (insert your numbers) % of my listings and my average days on market is (insert your numbers.) What do you think would help your home sell more quickly?”
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They say: “My last agent did not do much to sell my house. I think I am going to try it myself.”
You say: “I can understand your frustrations. Sometimes it seems like it would be easier to sell it yourself because you don’t see what your agent is dong to promote your house to the other agents in your area. Can I explain what I do to promote your house in the MLS and to other agents?”
YOU know how special you are. YOU know that you outshine the competition. The question is: does your potential client?
Helping clients understand the value you provide to them is essential in prospecting and keeping business. Let’s face it: consumers have plenty of YOU to choose from, and national research shows that they see very little difference among you. It is therefore up to you to be able to articulate and to demonstrate what it is that makes you their best choice; what it is that makes you unique and valuable.
First, know what clients want and know that those wants may change. You must identify what consumers expect and need. NAR data from 2008 states that today’s buyers and sellers are selecting agents for a number of select reasons:
• They want a quick response. • They want expert advice and guidance. • They want a skilled negotiator. • They want accurate market knowledge. • They want a “track record.” (Reputation matters.) • They want someone they can trust.
If you are able to show clients that you have expertise and skill in all of these areas, you have begun to prove your value.
In addition, a good buyer’s interview will help you determine your clients’ individual wants and needs. Listening is a key component in this step. If you can then paraphrase back to the clients what they have described, they become convinced that you know and understand them, and what’s more: that you are willing to accept their “requirements” and work accordingly on their behalf. (Also, be prepared to be flexible because those “must haves” might suddenly shift to “would be nice to haves,” while entirely new criteria surface as primary.)
Second, remember: it’s not about you. It’s about them.
A useful motto here for the real estate professional is: “check your values at the door.” You may take their criteria and show the clients the best of the best in that price range, only to find out that they are solely comfortable with homes more modest or unassuming. You may be appalled to discover that their top choice is across from an apartment complex or major highway, but if you remain non-judgmental and validate their reasons, you have proven your value as a listener to their needs. On the other hand, if you try to argue them out of their first choice or convince them they are wrong, (because obviously you are the expert!) then you risk alienating the clients you are supposed to serve, if not lose them all together.
Finally, know and verbalize exactly why clients should work with you. And P.S. the answer isn’t “because I give good service.” You’d better give good service: that’s a bottom-line expectation of all consumers! What do you do above-and-beyond service?
Jeffrey J. Fox, in HOW TO BECOME A RAINMAKER, reminds us that we should always be able to answer the question, “Why should this customer do business with us?” Make it your mission to be able to answer that question for your business--the same way every time. And make the answer true.
Now in the current market and more than ever, you may be tempted to define your clients as any and every one who walks past you down the street. Everyone needs a place to live, right? Concerns over the economy and a desperate need for lead generation may persuade you to apply the salt-shaker method of marketing: sprinkle it all over and hope that something sticks! But this panic-mode thinking could be the biggest mistake you make all year, resulting in wasted time, money and resources.
In order to get the most of your marketing efforts, in this economy especially, you need to follow the rules of niche marketing. In-N-Out Burger fast food restaurants are a perfect example of niche marketing. Never meant to appeal to everyone, never meant to take over McDonalds’ or Burger King’s market share, this successful hamburger joint has a limited menu consisting of only three different sandwiches: the hamburger, cheeseburger, and the "Double-Double" (double meat/double cheese.)
Though times have changed since the chain opened its first restaurant in 1948 in Baldwin Park, California, little has changed at In-N-Out. The menu - burgers, fries and drinks - is still the same basic menu customers have always enjoyed. Have they expanded their menu to have other kinds of sandwiches and entrees? No. Loyal burger eaters know that when they want a good quality burger, IN-N-OUT is the place to go. They do not spend marketing money advertising the latest Chicken Sandwich Spectacular because they don’t have one. They focus on what they do best. As a small business owner, what lessons can you learn from IN-N-OUT?
Now is exactly the time to refocus your time, money, and resources in a similar manner. When all three may be in short supply, it only makes sense to concentrate on your niche, the group of people most assured to bring you certain returns, the group of people you want to work with and concentrate on.
If you don’t know them already, choose who those people are.
Who best benefits from the specific services you offer—and deliver--better than anyone else?
Who already has benefited from your services and is now a “Raving Fan?”
Who do you know who “talks up” your services and serves as your Goodwill Ambassador?
After you have determined the WHO, analyze the WHERE.
What do these groups you have identified have in common and where do they come from?
Are those who benefit most from your services within a certain age group? Geographic location? Job or organization?
Those who are your Raving Fans are clearly past clients and referrals, but where do you find them now?
The Goodwill Ambassadors are clearly your sphere, but where do you find them? The family tree? The immediate neighborhood? Church? Clubs?
Then of course, you must apply the HOW. How will you reach that target once you have identified it? If seniors are the most likely to respond to your services and inventory, you will probably not concentrate solely on internet strategies But similarly, if you have a Gen-X or Y population clamoring for your services, you need to be well established with the latest technologies, communication platforms including social media networking sites, and expertise. Know how to reach your clients and where to spend your time and money.
And remember your goals. If you are planning to double your business within the next five years, then the HOW must include the resources you will need to market to and service your niche.
Don’t succumb to the fear that if you don’t court every potential client, you won’t have any clients at all. Make your niche as carefully designed a part of your business plan as your budget. If you focus your time and resources and serving the burger-loving clients the best way you possibly can, you will attract more of the same. Leave the chicken-lovers to someone else.
This is the true key to Niche Marketing!
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Coach Cheri Alguire has helped thousands of super small business owners and real estate professionals find their niche. Find about her book Branding & Marketing Mastery or her business planning guides at http://www.CheriAlguire.com
“Why isn’t there a ‘Kids’ Day?” is the question I heard from my fifteen-year-old daughter this week.Doesn’t she know that her older brothers and all kids in the entire world that have ever asked this question before always get the same answer…”Every day is ‘Kids Day’!”
Happy Mother’s Day, Real Estate Moms!I hope you all have plans to enjoy your day!
The other day, my daughter walked into my office and exclaimed with surprise, “Mom!You’re on Facebook!”She thought Facebook was only for kids.Not anymore.The fastest growing demographic on Facebook is those 35 years old and older.Facebook, is no long, just for kids.
How about you?Which Social Media sites are you on?Facebook? MySpace? Active Rain? Linked In? Others?
I first joined Facebook when my son’s girlfriend invited me to join.I didn’t do anything with it for years.Then, about six months ago my brother found me on it and asked me to be his friend.He did tell me that he thought it was pretty disgraceful that he made up 50 percent of my “friends” and that he was my brother so he didn’t even really count!I decided it was time that I checked out this Social Media craze starting with Facebook.
According to Wikipedia, “Mark Zuckerberg founded Facebook with fellow computer science major students and his roommates Dustin Moskovitz and Chris Hughes while he was a student at Harvard University.Website membership was initially limited to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and Stanford University. It later expanded further to include any university student, then high school students, and, finally, to anyone aged 13 and over. The website currently has more than 200 million active users worldwide.”
Even Oprah is now on Facebook!
Founded in February 2004, Facebook is a social utility that helps people communicate more efficiently with their friends, family and coworkers. The company develops technologies that facilitate the sharing of information through the social graph, the digital mapping of people's real-world social connections. Anyone can sign up for Facebook and interact with the people they know in a trusted environment.
As of May 2009 there are:
·More than 200 million active users
More than 100 million users log on to Facebook at least once each day
More than two-thirds of Facebook users are outside of college
Average user has 120 friends on the site
More than 3.5 billion minutes are spent on Facebook each day (worldwide)
More than 20 million users update their statuses at least once each day
More than 4 million users become fans of Pages each day
But, how about you?How do you use Facebook and why?Do you use it to keep connected with family, friends and clients?To locate old classmates?To network?What?Please comment and let me know how you are using Facebook or other Social Media.Or click on my Social Media Links on my website http://www.CheriAlguire.com and message me that way.
I look forward to connecting with you on Social Media and sharing more about how real people use it in their business and in their life.
Coach Cheri Alguire is a coach, speaker and trainer who has helped thousands of Real Estate Professionals and Super Small Business Owners keep up on the latest business trends and take their business to the next level of success. Find out more at www.CheriAlguire.com
No, I did not mean “Business” but if you tell me how your “Busyness” is, I bet I can tell how your Business is doing. We too often spend far too many hours attending the busy-work of the business, which leaves us a day late and a dollar short of our goals.
What is on your to-do list for today? Are these items that will get you closer to your goals, or are they just things that you HAVE to do. I can almost bet that if you are getting up every day and just plowing through a seemingly endless to-do list, that your Business may be “surviving,” but you are not “thriving.”
An important way to tell if you are doing busy work or not, are ask yourself the following questions:
1. Which goal will doing this activity get me one step closer to? 2. Can someone else do this for me?
Sometime things don’t really need to be done at all. And sometimes, things need to be done, but just not by you.
You will need to prioritize those items that have to get done by you. If the majority of your business over the next five years will come from leads generated from referrals and sphere, then the “have-tos” are clear: contact and service well that group of people. Invest your time and money in that quadrant of contacts. Stay away from the nagging “to-do” list that says you need to update the expired system that you drafted two years ago and have failed to implement yet.
Next, ask some hard, frank questions of yourself and your business.
• First, can you reach your goals alone? In order to achieve the numbers you’ve put forward, do you need to expand your human resources?
• Second, do you need a different business model than the one you are currently using? (Told you they were hard questions!)
If you are looking to increase your production by half-again as much in the next five years, perhaps you can obtain your goal within the status quo. But what if you are looking to double your business in five years? Or quadruple it? Is it reasonable to think that you can succeed under the same manner and with the same number of people that you have been previously?
You know the answer: undoubtedly not. As a matter of fact, this can often be the tipping point of decline and/or failure in a business, when you fail to realize that you, alone, cannot be chief cook and bottle washer and grow your business. A team or staff to support you may become essential when planning for your future goals The E-Myth Revisited: Why Most Small Business Don’t Work and What To Do About It, by Michael Gerber, talks about this at length in his book.
It’s all about the numbers today in terms of goals and in terms of human resources. Plan accordingly.
That is why Part 9 of my 17 –Part Business Planning Workbook is on the numbers. You need to figure out what kind of Production you will need over the next 1-5 years in order to hit your personal goals. Your business is about supporting your life; it should not be your life.
If you are caught up in Busyness, your business has become you life, and is no longer just supporting it.
One question I get a lot doing my coaching and speaking is “How do you come up with the “numbers?” Maybe this will help:
WRITE THEM DOWN.
Next year’s goal: what is the magic number for closed production (in millions?) For your 2-year goal? For 3, and 4, and 5 years? What about gross and net closed commissions? Average Sales Price? Number of Transactions? Number of Listings? You must chart each out and write down the number.
For next year and the four to follow, what is the magic number for new listings, for example? Where will the business come from? What is the lead source? Referral. Sphere. Website. Farm. Expireds. What about buyer-generated sales? Where will that business come from? What are the lead sources? As you define these categories, you begin to identify your target market and where to spend your marketing dollars (and your time!)
Numbers tell you so much about your business. By focusing on your numbers and reaching your goals, you are able to plan your priorities, staff your Business accordingly and keep out of Busyness!
There is no shortage on advice on Goal Setting, and it’s one of the “basics” of business planning. But how do you set goals when sales are down and all you hear on the news is bad news. What is the alternative? Participate in the recession? Just sit back and let things happen to you? Good economy or bad, goal setting is pivotal. From professional athletes to motivational speakers to CEOs to Real Estate Agents to Super Small Business Owners to Stay-at-Home-Moms, Goal Setting is undeniably the key to success.
If you don’t know where you want to go, how can you create a plan? It is like jumping in the car with your family in it ready to go on vacation and you have no idea where the family is going. You don’t know if you are going across the county, across the state, or across the country. You can’t plan how long it is going to take, or the best way to get there, because you are not sure where you are going. You just get in the car and drive, hoping that something will come up that will give you direction, will give you hope. If your days seem like you are just hoping in the car and driving around without a plan, maybe it is time to do some goal setting.
• First, THINK LARGE. Don’t start with tomorrow, or even next year. WHERE DO YOU WANT TO BE IN FIVE YEARS? TEN YEARS? If you concentrate on how BAD things are, you will not be able to think big. Consider personal, financial, and business goals all on this wide open canvas of possibility. Don’t think in terms of How Will I? Think in terms of I WILL.
• Second, VERBALIZE your goals. WRITE them down in specific detail. POST them on your wall for a daily morning review.
• Next, VISUALIZE them. Create the picture of that success, or that vacation, or that volunteer activity. POST it.
• As a final step, ANALYZE your goals. Are they SMART? (Specific and Measurable?) Are they PURE? (Positive and Relevant?) Are they CLEAR? (Challenging and Appropriate.)
• And as a postscript, LEGITIMIZE them. REVISE and REWRITE them so that they fit both your dream and the “test” above. Confirm them with yourself and put them into action.
Remember that when Goal Setting, where you have been isn’t necessarily relevant. Now the course to set is where you want to be. It may be helpful to think of goals in terms of PERFORMANCE as much as in imagery. So when thinking of your goals, for example: an increase in the number of referrals you receive over the next five years, think not only of the physical number: say, 30%, but of the performance or action which needs to accompany that goal. Let’s take this example through the steps:
• I will increase our referral business by 30% in the next five years.
• I see a client appreciation picnic of 500 people catered by my favorite deli.
• Smart= I will measure the increase in the number of referrals year by year.
Pure=I will reward clients and my team members with a company picnic to show our appreciation.
Clear=I will rise to the challenge by increasing referrals incrementally each year from our current 20%.
• In terms of Performance/Action: I will hand write a thank you after each business transaction. I will observe birthdays and anniversaries through my email databank. I will strive for a 5 on every evaluation that is returned to me through my attention to detail and positive service plan.
• Make the goals FUN and MOTIVATING. If a new car or piece of jewelry or house motivates you, put that in your goal. Put little goals in along the way as well. Buy yourself that new designer purse when you hit a certain number of sales. Reward yourself along the way to hitting your BIG Goals.
Suddenly the goal is not just a dream, but a in specific direction toward your definition of success. Goal Setting should put a smile on your face! It’s the future you see in your dreams—achieved through your efforts and passion.
Many people attack the problem areas in their business with the mantra, “When things get tough, I just work harder.”
This is a philosophy that looks admirable on the surface, but actually can adversely affect our goals. Surprisingly, the answer isn’t necessarily work “smarter,” either. The true answer to problem areas in business might be at the very core of our selves and our lifestyles.
When business planning, we strive to define goals, to establish and maintain the systems that support those goals, and to manage our time and resources accordingly. What we often do not do, that can result in serious problems, if not outright disaster, is plan for our selves. And we’re not just talking about the last time you had a vacation (without the cell phone.) We are focusing here on all the aspects of your life that allows you to recharge your body and mind in order to sustain your personal and business success.
Imagine a balance wheel that is drawn around your being. It would include health: diet, sleep, exercise, and relaxation (a.k.a. stress management.) Like any visual of this nature, if your self-assessment of these elements is lop-sided, you have identified the problem area(s) that limit your success.
Dr. Paul Pearsall, in his book TOXIC SUCCESS: HOW TO STOP STRIVING AND START LIVING, has labeled this tendency toward constant motion/drive in work while ignoring the self as “toxic success,” and reminds us of the 19th century folk hero, John Henry, who infamously tried to manually out-produce a steam-powered drill with a hammer and pick, but died after “winning” the race. He warns us that a single-minded focus can delude us into thinking we can control any and everything while we ignore our internal energy fuel gauge.
Focusing singularly on the business while wolfing down fast food—or not eating at all—obsessing on the market while losing sleep . . . our habits become self-defeating. This critical area is also what Stephen Covey refers to as “sharpening the saw,” in his book THE SEVEN HABITS OF HIGHLY EFFECTIVE PEOPLE, and he urges us to pay attention to it in our every day lives. Remember, too, that personal attitudes have a huge influence on how we approach our problems. Believing that problems are permanent and insurmountable pretty well predicts that very outcome. However, by focusing on the health of our being, we can also take control of those attitudes that eat away at our ability to problem-solve.
You probably already know the drill: time manage for your self the way your time manage for your daily appointments and office duties. Exercise and sleep should be blocked off on your calendar. Relaxation breaks should be allotted for in definite terms, be it yoga, vacation, reading time, or the social hour. Remember that your business can’t run without you, so taking care of you should be a primary focus in every day planning and in long-term vision. You need to do it!
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Coach Cheri Alguire has helped hundreds of Entrepreneurs and Real Estate Professionals create a Business and Life Plan that really works for all areas of your life. To find out more about her Business Planning guides for Small Business Owners and Real Estate Agents at http://CheriAlguire.com
It is the end of the first quarter and time to check the score.
Just as planning your goals for the coming year should always begin with a look back at the year in review, so planning your business for the rest of this year should take a look back at the first quarter. Business planning isn’t just a numbers game, but also an accounting and analysis of the year’s overall progress.
Begin by asking the hard questions: • What happened in your business this past year? Past quarter? • Did you meet your goals? If not, why not? • How did you accomplish your successful goals? • Where did your business come from?
From there, analyze the specific sources of success or failure. • Were your lead systems facilitating your goals? • Did the number of listings support the number of closed transactions?
And yes, now analyze the numbers: closed sales, closed commissions, expenses, how many listings taken, how many listings sold, how many active? Quantify where the business came from in comparison to your goals: how many sales from sphere? Referrals? Websites? Print media? Signs? Other lead-generating systems?
Also take a look at the team. Who do you have working with you and what are their roles? Did they support last year’s business? Did they reach their goals? Were their goals congruous with your business plan? And let’s not forget that important last count: the one where you evaluate yourself, including how many hours you worked per week and how much vacation time you took during the course of the year or quarter.
Think of this business in review task as a report to imaginary shareholders in the business. They would need a reminder of last year’s goals, a comparison to the actual numbers, an analysis of the year’s operations and relative success, and an evaluation, ultimately, of your business strategy. The success of the past year forms the basis of your business plan for the next. You are able to determine if you need to completely overhaul your “to-do” list or merely fine-tune it. You are able to focus on the past year’s strengths in order to maximize their results for the future. You are also able to isolate weaknesses or “misses” and problem-solve them to a positive resolution.
The business “flashback” in review cannot be ignored if you hope to continue to grow your business into tomorrow. The necessary steps to planning for that future can only happen once you’ve seen what came before. That is when you learn not just from your mistakes, but from your successes. It’s then you can set the new goal and create the plan. It’s then you can focus your time and resources. It’s then you can make accountability a part of the process. It’s then you can move forward with the confidence that you have planned for an incredible year ahead.
Let’s face it. The time to ask yourself, “Is my business running smoothly?” is NOT after you have just had a flat tire and are bumping down the road. The time to ask that question and analyze its answer is during the business planning process AND throughout the year.
A business is a complex machine with many moving parts. Well-maintained, it works smoothly and takes you where you want to go. But if just one part is neglected over time or overlooked, an eventual breakdown is certain.
To begin the process, take a look at your systems and how they connect to the big picture. Where, exactly, do they exist in the framework of your business and how efficiently are they running? Jennifer James, in THINKING IN THE FUTURE TENSE, reminds us that “systems thinking” can bridge the gap between reality and perception, and is probably the best way to problem solve (189.) Systems thinking “helps us understand that all parts of a business or a process are connected, and that when one part is challenged, all the others are as well” (189.) Typically, we may look at problems in isolation, but that may not solve the underlying systemic issues.
Let’s take an example of lagging sales. Agents are not making production goals; therefore, the cash flow or profit bottom line is not being met for the business. You could dismiss the problem as “it’s the market,” and continue to slump in sales. You could blame your team and look for new help. But if you look at all the systems that feed productivity: lead generation and marketing, listing systems, follow-up, people and support systems, you may be able to discover various cogs in the wheel that are preventing progress. Does listing inventory need to increase in order to produce leads? Are follow-up systems being utilized? Do team members need more mentoring or training? Could the answer to lagging sales be a team retreat that re-motivates and energizes the team members?
Systems thinking allows for and demands creative problem solving. Take Steve Jobs of Apple computers. Infamously “fired” at one time from his own company, Jobs loved the business too much to stay away from it. After creating PIXAR (among other projects) while on hiatus from Apple, he returned to regenerate not only the product (Macs) but the industry itself. While launching and perfecting iMovie (a consumer-friendly video-editing application) for the Mac, he realized that software wasn’t enough. In order to function properly, he concluded, it had to work in conjunction with several other components. He became committed to the goal that Mac would offer something unique by developing whole business systems for the personal computer. And of course from there, he made history: launching a little digital music business with iPod. (See pages 257-258 INSIDE STEVE’S BRAIN by Lenader Kahney.) Systems thinking was the key.
Systems thinking is not so much thinking “outside the box” as it is the wide-angle view. So pan the vista of your own business. What systems are in place? Are any missing? Of those that are operating, are they running as efficiently as they could be? Put the individual pieces together to create a smooth and successful whole. Problem solve with imagination and collaboration to fix issues that slow you down. Be cognizant throughout the year. Create and maintain a smooth-running machine.
March 17th is St. Patrick's Day!The one day of the year I have a corn beef sandwich and Guinness (and I don't even like beer!) Some traditions are hard to break. And I am only a tiny percent Irish.
My Step-Grandfather's name was O'Brien and the parties he and my Grandmother used to have took a month of planning. Like my Grandmother, I love to entertain! Some traditions are hard to break.
The economy has changed. We are not in the Industrial Economy anymore. Some still believe we are in the Information Economy. Others say we have moved to the Inspiration Economy. Yet, many of you still run your business and do sales and marketing like nothing has changed in our economy. Some traditions are hard to break.
If you would like to take the Super Small Business QwikScore and see if YOU are ready for THIS Economy, send me an email. I have given this quiz to all of my clients and the results are enlightening. I will also schedule a 20 minute coaching call to debrief you results if you are interested.
Some traditions ARE hard to break!
Super Small Business Coach Cheri Alguire has partnered with hundreds of Small Business Professionals, Entrepreneurs and Real Estate Professionals helping them make money in any economy.Find out more at www.SuperSmallBusinessCoaching.com or www.CheriAlguire.com
I don’t know about you, but after a crazy day of working in my business, there is one question that used to send me into overload. “Mom, what’s for dinner?”
By the time I was asked that question, my brain was usually fried from a day of work and after having to make decisions all day, this was one decision I was not prepared to make.
The sad truth about not having thought through that question much earlier in my day meant that I ended up piling the family into the car and hitting fast food. This is not how I like to take care of my family’s food needs. Not only is it not the healthiest choice, but it can really wreak havoc on the budget if it happens too often.
I have found a little planning goes along way. I created this Busy Mom’s Menu Guide form that I fill out on Sunday for the entire week. I look at the family schedule and make sure I am not planning meals that have extensive prep on days I am not going to be home until late or huge meals that require a lot of clean up on nights the kids have activities I have to take them immediately after dinner.
This menu also helps me figure out if I am missing any ingredients for a meal and creates a shopping list for me if I need to pick up certain things for a specific meal later in the week.
The prep column helps keep me organized with what I may need to pull out of the freezer or put in the slow cooker before I get started with my busy day.
I have found that taking 15 minutes on Sunday evenings to plan my menus for the week and posting this form on the refrigerator has helped get rid of a lot of stress at dinner time and allowed me to make the healthy meals for my family that I want to make.
I have included a copy of my Busy Mom’s Menu Guide for you to print off and use. If you can’t access it in this format you are using, go to http://www.coachcheri.com/pages/contact-us.htm and request it and I will email a copy to you.
I have noticed a trend with my clients over the past couple weeks. Many of them are working really hard to hit goals and get so many things done. They are working towards several results at all cost, even when it comes to their own health and well being.
STOP IT!!!!
You can’t keep putting in extra time with your business and your family and your volunteerism and everyone else by taking time away from yourself. It is going to hurt your clients and your family and yourself in the long run.
When we fly and the crew is going through the emergency procedures before takeoff, they always tell us that if the oxygen masks are released, to put your own mask on FIRST before helping small children you may be traveling with. Why is this? Because if you don’t, you won’t be much help to anyone else. You have to take care of your immediate needs so you can be the one helping people and not the one needing help!
When you're a Realtor, or business owner, and a parent, and participant in the many other things you are involved in, it seems like people are pulling you in different directions each day. At work, you face constant demands from your clients, and you expect that. However, the demands don't stop once you're at home.
Contrary to what some might think, carving out some "me time" isn't selfish. If you don't take some time to clear your head, you'll be more frazzled and less able to help both your clients and your family. Take time for yourself! As a coach, my clients know I ask them every session about “Self-Care!”
Some Ideas for Self-Care You need to find “ME” time or “Self-Care” everyday. You also need to plan bigger self-care items on a weekly or monthly or even yearly basis.
So what should you do daily? The most important thing is to do something that you enjoy, but also something that will allow you to clear your mind and relax. To ease into the relaxation frame of mind, try taking a long bubble bath with candles and soft music. Let your mind drift, and don't worry about planning next week's schedule. Other relaxing things to try could be taking a walk, reading a book, or trying meditation. The main thing is to do whatever helps you recharge.
It is also important to do “bigger things” for yourself on a weekly or monthly or even yearly basis such as getting a massage or facial, having a manicure or pedicure, going out to lunch with a friend who is positive and will help you recharge. I have a friend like that who is “sunshine” and recharges me every time I meet with her. Which of your friends do that for you? Make the time to spend with them. It will be worth it. By taking an hour out of your day every two weeks to go to lunch with someone who builds you up, you will find that you are even more productive once you are back to that to-do list.
And don’t forget those big yearly events such as a spa weekend with girlfriends, or annual night with the girls going to a play or special performance. It is important to have these special things to look forward to that you do just for you.
Anything that is really important to you should be on your schedule and not just on your to-do list. So put this self-care on your schedule daily, weekly, monthly and yearly.
Take Advantage of That Relaxed Feeling
It can be hard to keep your mind off your schedule while trying to relax, but you can take advantage of your peaceful relaxation time to do some stress-free planning. After your bath or walk, before you rejoin your office or family, sit down and tackle your to-do list for the rest of the day or week. With your mind clear, you'll be able to be more organized. Make sure when you plan your schedule, you include as much “me-time” as you can. I feel that an hour a day is a minimum. Your family and your clients will love the more cheerful, relaxed you!
My coach told me once, a few years ago, “How can you keep giving and giving, filling up other people’s cup, if you never stop and refill yours? You won’t have much left to give. If you would stop and refill, think of how much more you would be able to give and how much easier it would be.” That really hit me hard. Now, I make sure that not only am I the first thing on my to-do list, but that that time is scheduled – and is sacrosanct - every day!
How about you? What are you going to do to begin putting YOU first on your list?
As values drive your life purpose, vision drives your goal setting and your day-to-day actions. I took this photo on a hike last month in Gold Canyon, AZ. It was a rainy day that had a brief burst of clear skies that enabled this hike and great photo. I have titled it “Vision.” It is my desktop background picture right now. If you can’t see the photo in this article, please check on www.RealEstateMoms.com
You know the old saying: “In order to know where you are going, you have to remember where you have been.” In naming your vision and setting goals for this year, truer words were never spoken. You need to first analyze where your business has been this past year before you can actually envision where you will be next. Vision is the big picture, the WHAT you will do (as opposed to the WHY.) In framing that picture, first decide what you want to leave out. For example, what is it that happened in your business last year that you never want to see happen again? Then you can follow up with the next question: What is it that worked well, and that you are proud of, that you want to be certain to repeat? Vision begins here.
My desktop picture reminds me every day about this vision I had for that hike and the vision and perspective I found hiking that day. My vision for that hike determined my steps and the path I took. My vision for my business does the same.
Some people believe that visionaries are gifted with natural talent or good luck and that we mere mortals cannot hope to dream in such vast landscapes. However, as Richard Koch reminds us in the 80/20 INDIVIDUAL, many times a visionary result is simply a rearrangement of something which already exists. Take, for example, that recurring annoyance or conflict from your business last year and put someone else in charge of it. Or, conversely, take a small idea which made a big difference in value for your customers, and assign a team to develop and improve upon the idea for this year: to make it bigger, monumental, even! All of this is vision.
Ask yourself the hard questions:
What did you accomplish this year?
What was the most challenging part of your year?
What goals did you set that you did not achieve?
What were the reasons?
What did you actively do to drive your business last year?
What factors do you feel drove the business without you: in other words, where do you feel you were out of control?
Then play the flipside:
What were your successes?
How did you celebrate them?
What do you want to duplicate and what are the steps that are necessary?
What is it that you value most that you want to see reflected in your business practices?
Again, only after analyzing where you have been can you paint the canvas in vivid color of where you will be next year. Like a jigsaw puzzle, the pieces come together to form the whole once you have identified them.
And remember, vision implies seeing: you must picture it in your mind before you make it your reality!
Sounds like a loaded question, doesn’t it? What is it that you truly value in life?
• Family? • Job? • Security? • Freedom? • Usually all of the above, and then some.
But the crux of the question on values is: which do you value most and to what measure? At the core of your personality and your being are your values. They dictate what is most important, both in life and in business. They motivate you and direct you in your goals. It is essential, therefore, for you to examine and weigh those things you value most in life, for they help sculpt your purpose. You literally need to make a physical list which clarifies what you find most worthwhile and rewarding in life. You may even want to take this a step further and write your values in the form of a mission statement: a guiding declaration of your values and principles.
Another important reason to focus on values is to analyze its relationship to your lifestyle and business practices. Once you have identified your values and articulated them, hold those values up to your daily life and work. Are they parallel? For example, if you value physical fitness and health but haven’t been to the gym in six weeks, one of the things you regard most in life has been cast aside, and you are certain to be unhappy in the long run. To quote Ron Willingham in INTEGRITY SELLING, in order to be successful, “your purpose must be congruent with, driven by, and sustained by your values.” If one is out of balance with the other, you can’t achieve all you hope for or deserve.
Also remember that identifying and articulating your values isn’t enough. You must act upon those values in your daily life in order to fulfill your purpose. To say that you value honesty is both admirable and prudent. However if you do not conduct your business in an honest manner, do not make full disclosure, say, or turn the other way when in the face of an ethical dilemma, your behavior belies what you say you value. Ultimately you disengage from relationships because of trust issues, lose business, and disappoint yourself.
Values are at the center of your being and have the power to shape your behaviors: toward others, toward success, toward happiness. Stephen Covey reminds us in THE SEVEN HABITS OF HIGHLY EFFECTIVE PEOPLE that “the ability to subordinate an impulse to a value is the essence of a proactive person.” Proactive people act from an internal compass. They achieve because they keep those values in mind when they make choices and decisions.
Identify, articulate, and act upon your values. They will help you form your goals and accomplish your purpose.
Purpose is an understanding of what your life is all about. Purpose provides the foundation of our values, vision and goals. Purpose gives meaning to everything we do in our personal and professional lives. In essence, purpose is the why.
Yet not all of us recognize our purpose or can articulate it. As in any life journey, it is difficult to arrive at a specific destination if we do not have an end in sight. The journey also must be joyful and heartfelt. It is purpose that makes life worthwhile and rewarding.
So to concentrate on your purpose or direction, begin to think “On Purpose.” Ask yourself the reason(s) why you do the things you do, and answer honestly.
Once you review the answers, determine if you like what you see. Are you living your life “On Purpose?” Are you fulfilling the intention of your values and ideals?
One key to discovering your personal purpose is in understanding the way you make a difference for others. Once revealed, understanding the way(s) you make a difference is the knowledge you need for building successful relationships. Your personal and professional success is built through creating value for others -- one relationship at a time. The importance of creating value for others as the theme of your purpose cannot be overemphasized. A self-centered or ego-driven purpose is doomed and will have a limited audience of admirers while an “other”-focused purpose creates synergy and provides shared meaning with others.
Discovering your purpose will give you insight into the value that you create for others. As you focus on how you can serve or create value for others, you build a platform for success. From this platform, your success and personal motivation grows and flourishes. We can see examples of this in all walks of life: from parenting to teaching, to coaching and mentoring, and beyond. The “pay it forward” rule multiplies the number of meaningful relationships we develop and nurture and thereby expands the richness of our personal, community and business lives.
Your purpose will also become your motivation to change, to take on new challenges and to improve all aspects of your life. Your purpose will become the catalyst for reinventing your self, your personal life and your business. Purpose becomes the passion, commitment and the desire to reach new peaks. The renewal of your purpose will only require an investment of your time. In the end, your purpose will provide you with a satisfying understanding of “this is why I do what I do everyday.”
I just found out last week that sometimes the best place to go to work on your business is a thousand feet up. I was in Mesa, Arizona for a Business Planning retreat, staying at a nice resort in a two-bedroom condo with my laptop connected with Go To My PC so it was almost like I was sitting in my office back in Orange County, California. I spend most of the fourth quarter helping my coaching clients create their Business Plan for the new year, that I have found January is the best time for me to really look at my own business.
Even with the great accommodations at the resort, I still felt like I need to “get away” even more as I was doing some of my serious goal planning. You see, I set HUGE Goals for myself, and the only way for me to do that, is to get away from the day to day distractions. Being at the resort was still a little too connected to my email, my virtual assistant and my Blackberry. So, in order to get in the right frame of mind, I decided to go for a hike on Sunday.
Now granted, I took my Blackberry with me, (they’re addictive, if you haven’t heard) and even had coverage half way up the mountain on my 5 mile hike. It did allow me to take some great photos from the top. I tried to email them, that is how I realized I didn’t have service up there. But what I did find up there was something I really needed! Perspective.
When you are standing at the top of a mountain and look down, the houses and roads disappear. All you see are valleys and hills and rocks and cactus. Lots and lots and lots of beautiful cactus. In fact, more cactus than this Minnesota native has ever seen before. Who knew that desert vegetation could be so green and flowering and beautiful? It is amazing what a little rain does to the desert. It is also funny the pictures I had in my head about what the desert was before spending this much time hiking in it.
I did the first hike to get a little exercise, but I soon found out that I was getting more clarity and more things worked through on my hike, than at any other time that week. So I went on three more hikes that week. The beauty and adventure of the Arizona desert was addicting, but so was the amazing clarity and perspective I got concerning my business and my life goals while on those hikes.
When the normal distractions disappear and you truly get away from it all, it is amazing the clarity you can get. Now you might not be able to get away to the mountains of Arizona, although, I would highly recommend it, but where can you go to get way from everything? Away from the Blackberry, the email, the phone, the kids, everything?! I encourage you to find that place. Maybe it is a hike or walk near your house, maybe it is a bubble bath, and maybe it is beach in a warm part of the world. Wherever you find perspective, go there often!
------------------------------ Coach Cheri Alguire helps her clients take their business and their lives to a new level of success every day. Check out her resources at www.CheriAlguire.com
It’s time to implement your business plan to ensure success in your real estate business. If you have completed your plan, now is the time to begin working that plan, one step at a time.
Surveys show only 3% of all agents have a formal plan. A 25-year study of Harvard Business School graduates showed that the grads who have a plan earned more than 100 times those who had no plan or a loosely defined plan. Your business plan is YOUR guide to SUCCESS, a silent partner, a daily reminder and your coach’s best friend for keeping you accountable and on course. A minimal plan requires three steps:
1) Schedule some time for yourself (alone) to think and reflect. Begin with a blank slate, (paper or electronic) and write down what is important to you and why. Take some more time and reflect on the following two questions:
• What went great last year? • What was most frustrating for you to complete/accomplish?
Now, push yourself and answer “how can you be more?” Feel free to give yourself some advice. Remember, advice is free. It costs nothing. It only costs if you take action before you are fully prepared. The first cost of implementing change is your time, the time to plan. So make sure your plan is grounded. Take some time to look at your track record. Now, you are ready for the second step.
2) Review last year’s plan. Know your data: where your business came from and how you do business. Your data may support your answer for “what went great last year.” If not, you may want to revisit/add to “what went great last year.” Things are starting to shape up: you have a clear understanding (written down) of what is important to you and why. You recorded what was great and what was frustrating. Your advice for greatness in your notes. It is time to proceed to the final step.
3) Re-tool. Adjust your number of transactions, commission percentages, and how you do business. This is the action step: the place where you write your new business goals and break them into actionable steps. You are at the critical phase of your new business plan. Just as important as your new goals is the time and reflection that goes into your goal setting. And of course, the new knowledge you have gained about your business is of great value and the lessons your new goals will teach you during the upcoming year are the foundation for your future. Go for it!!!
How can I work “ON” my business without loosing income?
The answers to these questions are found in Your People System.A simple People System has four basic components:
Team Members (Buyers Agents, Assistants…)
Expected Outcomes,
Training, and
Management.
Your People System allows you to:
Double your income without working twice the time;
Go on vacations without a loss of clients or income;
Delegate tasks when they do not directly produce income to team members;
Offer your clients the highest level of service while fulfilling your fiduciary duties to them.
To maximize the potential of your People System, you must have specific and expected outcomes for each team member, and you must manage the expected outcomes.To increase “People Potential,” you must provide training experiences for your team.You must also constantly be on the lookout for new talent and, most importantly, be quick to identify aptitude in your current team members.Build upon and develop these newly identified aptitudes.The more you invest in Your Team, the higher volume Your Team will produce.Investing in Your People System will maximize the efficiency of your lead pipeline, and the end result will be a higher conversion rate and higher profitability.This is truly a win-win for everyone involved.
From a self-centered viewpoint, many agents believe they are “special,” and the public will only want to work with them.Don’t buy into this myth---Sell Your Team from the beginning.A specialized team can deliver a more consistent and a higher level of service than any single agent.Enjoy the benefits of delegating and managing.
How do I know which of my marketing strategies work?
Which marketing strategies are cost effective?
How can I capture the contact information for new leads?
How do I develop a lead pipeline?
Where do I get leads for my buyer agents?
How can my team be more productive?
The answers to these questions are found in Your Technology System. A Technology System should give you predictable ways of identifying prospects without requiring you or your team members to spend hours of time searching for names or contact information. Your Technology System should:
Assist you in managing your marketing.
Incubate long term leads.
Identify “hot” leads needing immediate service.
Communicate with your clientele.
And save you and your team countless hours of valuable time.
To maximize the potential of your Technology System, you must be sure the system is both compelling and capturing. Compelling technologies attract consumers (leads,) hold the attention of consumers, and show you the evidence that consumers return via the given technology. An example of this technology is a dynamic personal website. Capturing technologies give you a means of contacting and tracking consumers, for example, an effective 1-800 number and/or text messaging. Working at full potential, a Technology System will assist you in identifying cost-effective marketing strategies, give your team contact information on leads, and save everyone valuable time. The result will be a productive use of time and more sales!
One area I address in my Business Planning Guide is your Business Support System, but many people do not understand exactly what makes up a Support System. A well developed Support System is a recipe for SUCCESS. The four components of a simple ‘Support System’ are: Financial, Family, Sphere and Coaching. The financial component is made up of business savings and tax planning. The family comprises of your core relationships and activities that define your belief system. The sphere component offers referrals at little to no cost to your business. And coaching gives you a set of neutral eyes probing, and an active voice challenging, your current practices and direction. The overall function of your Support System is to give you and your business: security, energy, enjoyment and vision. The result will be SUCCESS.
The financial component of your Support System is best directed by an accountant. Have your accountant establish quarterly tax payments based upon the expected gross income to the business. Set up a proactive savings program to prepare for three months of business expenses: there may be an unforeseen illness; you may lose team members, or there may be a shift in the market that you were not expecting. The result of focusing on your financial component will be a reduction of financial pressure.
The family component of your Support System provides you with the core of why you work. Who you are and what you stand for are truly defined when you are away from the job. You must allocate time; schedule and protect your time away from work. Being in touch with and actually being involved with your core beliefs will renew your personal energy and passion, and as a result, you will perform at a higher level when you are working.
The sphere component of your Support System adds joy to your business. There is nothing more rewarding than providing service to a past client or a past client’s referral. No convincing, no selling your team, no overcoming objections---just being yourself and having fun doing what you do best. And the process? It is simple: just ask. “Who is next to buy or sell?” Simple and inexpensive.
The coaching component of your Support System offers a necessary challenge to your business. “It won’t work here,” or “not in this market,” or “I can’t do that,” or “it’s not my style . . .” on-and-on go the excuses. For all agents, the coaching process is simple but challenging: just listen and then act. Throughout the coaching process, you will be challenged to work “ON” your business: Listen to challenge. Set goals and establish timelines. Define actionable steps to complete. Measure the results. Dare to push your limits.
How is your support system? If you want to set yourself and your business up for success, it is very important to look at each of these areas, analyze where you can make improvements, and create a plan to do those things.
Once a real estate agent has a property listed “for sale,” it is vital to create and utilize the three components of the Inventory System. The service component focuses on feedback, communication and providing proof of your worth/value to the property owners. The pricing component categorizes your inventory as homes “priced to sell” and homes “priced to produce leads.” This may be helpful in determining which homes receive a greater number of resources (ads, open houses, mailings.) And the lead capture component highlights your exposure and response strategies (a new price, for example, may mean re-blogging, re-contacting all past inquiries, or running a special ad).
To maintain a healthy inventory it is paramount that a seller service system is implemented and consistently followed. Your system can be any combination of written, verbal or web-based activities. The information included in your service system should include any and all activities performed by you or your team related to the property. Also, include marketing and feedback specific to the home and general market updates, trends and summaries. Remember, it is important and easier to show your worth to the sellers who have agreed to pay you than to search for new sellers every three to six months that might want to pay you.
No matter how talented or how much natural ability an individual real estate agent possesses, his/her natural talents can and will only take him/her so far. No matter how gifted an individual may be, everyone will eventually hit a ceiling or, for most of us, a plateau of production. There is no “if” in this statement but rather “when” it will happen.
So the real issue is: how will you climb beyond the plateau or break through your ceiling of production? For the seasoned Realtor, the answer lies within the rigor of his/her ‘lead systems.’ For the successful team of Realtors, the answer lies within the volume of leads that the ‘lead systems’ generate. The single most critical element for consistent cash-flow in a real estate business is its pipeline of leads.
It is critical that the individual agent or the team leader designate specific blocks of time to work on his/her lead development systems. THIS TIME IS TIME SPENT “ON” YOUR BUSINESS. Lead Systems are the life-blood of your business. The lead systems produce sales; sales provide the revenue for prospecting/marketing; and prospecting/marketing generates new inventory and further future leads.
To completely understand the vital role lead systems play in a real estate business, it is important to utilize traditional and electronic marketing as ways of prospecting. Traditionally, there are many hands-on, time intensive, marketing/prospecting strategies, for example: handwritten notes or cards, warm calling and door knocking. With the arrival and development of electronic marketing and prospecting, however, agents have the ability to manage leads and, to a degree, predict the volume of leads in a less time intensive manner. Regardless of the strategy you employ, the result is the same: more marketing and prospecting means more inventory, and the result is a greater number of leads.
It is vital never to permit your lead system to stop or stall out. If your lead system falters, your entire business becomes vulnerable to changes in the larger market. Remember: your pipeline determines future sales---three, six and twelve months out.
Orange County, CA – Business owners struggling with marketing and branding have a new reference tool for their efforts in a Guide book that discusses an internal approach to messaging. Local marketing and publicity specialist, Cheri Alguire, collaborated with eight other coaches to publish “A Guide to Getting it: Branding and Marketing Mastery,” available for $14.95 at her website.
“Everything is marketing,” Cheri Alguire stated. “Entrepreneurs can build their brand faster as a result of the ideas, stories and tools from business coaches who’ve been there.” Cheri Alguire addresses Niche Marketing in her chapter, Mass Appeal Equals No Appeal: Discovering Your Niche Market.
“Building a business can be broken down to this one critical question: How am I going to attract clients to my business,” she said. Cheri has a business planning process she puts all of her clients through every year that takes an in depth look at how to choose and effectively market to your niche at www.CheriAlguire.com
The theme of branding and marketing repeats throughout the book. Each expert maintains that in a world of marketing noise or hype, authenticity differentiates the businessperson’s signature message from clones and wannabes. A forward note from editor, Marilyn Schwader promises: “Apply the lessons here and you will build your business in an authentic, inspired way.” Branding and Marketing Mastery is the tenth in a series of Guide books edited by life and business coaches and published by Schwader. For more information, see www.clarityofvision.com/guide.
Chapters and authors included in this book:
Creating a Visionary and Focused Marketing Strategy by Marilyn Schwader
Mass Appeal Equals No Appeal: Discovering Your Niche Market by Cheri Alguire
Attracting Baby Boomer Women to Your Business by Jane Lee Williams
Branding: The Soul of Your Business by Judy Winslow
Authentic Branding by Dawn Andrews
The Evolution of Loyalty: Five Steps to Branding by Mary Ellen Merrigan
The 7 Marketing Archetypes and How to Deal With Them by Dr. Miriam Reiss
Networking: The Insider’s Guide to Finding and Leveraging Your Best Opportunities by Kim Lysik Di Santi
Quantum Marketing by Jille Bartolome
About Cheri Alguire: Cheri is a business and life coach who partners with Small Business Owners, Entrepreneurs, and Real Estate Professionals, including Realtors, Managers, Loan Officers, Buyer's Agents and Real Estate Moms to provide products and services to take their business and life to a new level of success. “When I coach, I help people set and achieve goals far above what they imagined they could accomplish while, at the same time, living a life of balance and fulfillment,” Cheri says. “My focus is on helping them take their career and their life to the next level.” To date she’s achieved this for hundreds and hundreds of clients across the country—clients who place high value on her guidance and many who now have more clients, more income, and more balance in their business and their lives.
--- Coach Cheri's Updated 2009 Real Estate Planning Guide: Available Now! The time is right and the time is NOW to create a business and life plan for yourself that really will help you get to where you want to go next year. Take a look at Coach Cheri's seventeen part eCourse at www.RealEstateBusinessPlanningGuide.com
This model of business planning and goal setting for Real Estate Professionals breaks the process down to four parts and seventeen steps.
PART 1: The Big WHY It is important to first look at who you really are and what your core values are. These things will drive you and carry thorough to your business.
Step 1 - What is your purpose? Uncover your purpose, what provides the foundation of our values, vision and goals.
Step 2 - What are your values? Know your core values which dictate what is important in both life and business: how business should be conducted, your view of humanity, and your role in society.
PART 2: Vision – Goal Setting This is where you take a hard look at where you are at and figure out where it is you are going in your business and in your life.
Step 3 – The Year in Review Recognize what it is you have done this year, celebrate the accomplishments and also look at what may have stopped you short of reaching a goal.
Step 4 – Is your life in balance? The Wheel of Life, sometimes called the Balance Wheel, will help you visualize your current situation, providing a snapshot of how you see your life today.
Step 5 – Is your business running smoothly? Using the Balance Wheel concept on your business can help to determine what areas are causing your business to not run as smooth as it could be.
Step 6 – Looking at problem areas By focusing on areas that have been your weak points this year, you can determine what steps things may need to be in your plan for this year to avoid similar situations.
Step 7 – Business Review Take a look at the results of the last 12 months. Did you reach your goals and achieve what you wanted?
Step 9 – Production Goals Work the numbers. Create specific number goals for the next one to five years.
PART 3: Creating an Action Plan to Achieve Your Goals All Real Estate Professionals know they need a Business Plan. By following these steps you will create a plan that will help you hit your business goals.
Step 10 – Define Your Niche and Value Proposition Become a specialist and build perceived value. Know your true value and learn to articulate your value proposition to your clients.
Step 11 – Lead Generation/Marketing Plan Recognize what specific changes to your current plans are necessary to make in order to reach your goals.
Step 12 – Define Your Team Organizational Structure Understand the organizational structure of your team.
Step 13 – Development Plan Capture all of those things you have wanted to research, create, do, perfect, delegate and implement in your business.
Step 14 – Budgeting Review your expenses for the current year and include any new marketing and development changes.
Step 15 – Production Plan Create and monitor goals on a monthly basis in order to hit your production goals for the upcoming year.
Step 16 – Time and Delegation It is important to make sure you have time management and delegating strategies in place to work this plan you are creating.
PART 4: Achieving Your Goals: How do I get there from here? By breaking your large goals into smaller steps you will always know what you need to do next in order to keep working toward hitting your business and personal goals.
Step 17 - Creating a Master Project List Change your goals into “projects” to actively work on over the next twelve months, and from this create a “Master Project List.”
Coach Cheri's Updated 2009 Real Estate Planning Guide: Available Now If you would like more information on how to do these four parts and seventeen steps and create a business and life plan for yourself that really will help you get to where you want to go, please check out my seventeen part eCourse at www.RealEstateBusinessPlanningGuide.com
It appears that the declining
prices of homes is having a positive effect on the divorce rate, at least in the UK. I saw the below referenced article on the Realtor.Org website today.
As much complaining as we are all doing about the market conditions, maybe this is a silver lining!
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Daily Real Estate News | September 5, 2008
Falling Home Prices Curb Divorce Rate
The sluggish housing market in the U.K. has an upside: The divorce rate is falling. In fact, national figures for the U.K. published in late August show the divorce rate last year was the lowest since 1981.
Analysts from real estate services firm Savills say there's a strong correlation between housing prices and the divorce rate.
"As house prices rise, home owners undoubtedly feel wealthier and our supposition is that they also feel able to afford to get divorced," says Lucian Cook, director of Savills Research. "We forecast that the current falls in property prices will result in fewer divorces, even allowing for the overriding downward trend in the UK's divorce rate."
However, family law expert Jill Goldman tells London's Daily Mail that financial woes often will cause arguments and put a strain on relationships; so there may be some divorces that are actually caused by dropping home values.
Sources: REALTOR® Magazine Online, Savills Research, Daily Mail
When I first decided to become a coach, the only experience I had with the coaching industry is something I had heard almost on accident. I was doing some spring-cleaning and I came across a box of audio CDs someone in my household had ordered from a life coach a couple years ago, but no one had ever listened to. I put them on while I was doing my spring cleaning and the words that entered my ears through the sound waves coming from my portable CD player, this was before iPods, changed my life forever.
I started journaling again. I started really thinking about my life’s purpose. I started writing in my journal about everything I was destined to do and be and feel and live. During one of my journaling sessions, I figured out that it was my calling to be a coach. I did not know exactly what that was in the professional sense, but I did know that “coaching” was something I had been doing in my life for a long time and I was determined to explore the profession further.
I began some research on the computer and for weeks I researched the coaching industry, coaching schools, and other coach’s websites and ordered coaching books in droves. I found out there was life coaching and business coaching. The concept of business coaching really excited me. Because of my background in business as an entrepreneur and my background in Real Estate, I naturally thought of becoming a business coach for Realtors. I had been in the industry since college. I had been a successful Realtor and was currently an office manager for a top team in the area. I felt I knew the common ups and downs of the business as well as the kind of person in this industry. Coaching was a rather new concept at the time, yet one that seemed to be embraced already by this profession. People saw the benefits and there were already people coaching and creating businesses coaching Real Estate Agents. What could be better?
That’s when I started to experience doubt. “But, there are already people doing this, how am I supposed to break in and compete?” One of my first thoughts after having narrowed down my niche was to expand it to not only include Real Estate Professionals, but to also include small business owners and entrepreneurs. After all, I had owned a couple small businesses over the years as well. I knew that audience and could talk to the challenges they experienced as well.
As I began to expand my focus, I soon realized I no longer appealed to anyone because now my focus was too broad and my coaching practice was too general. When I was in the Real Estate industry I had learned that mass appeal equals no appeal. You can’t be everything to everyone. I began thinking about why I was looking for a niche anyway. Specialization gives people a reason to choose you. Specialization builds perceived value.
Sometimes it is hard to understand this when you are thinking about yourself and your profession so when I am working with my clients helping them figure out their niche I ask them to think about other professions such as the medical or legal fields. If you look in the yellow pages or on the Internet for an attorney in your area, you are going to look for one that specializes in the area you are looking for such as tax law or family law. When you are looking for a doctor you are going to look for a Cardiologist or a Dermatologist or someone who specializes in the field you need help in. Not only do these specialties attract you to them in the first place, you are willing to pay more for a Heart Surgeon than you are for a General Practitioner.
Besides being able to charge more, being a specialist is also easier. You know your clients and you can create systems so you can be more effective. My clients that specialize in certain neighborhoods in their real estate business have an easier time when someone calls them to sell their property if they specialize in that area. They know the prices of the houses in the neighborhood, they know the builders and floor plans of the houses in the area, they know the schools and infrastructure close by, they know other owners and people looking to buy in the area. They know who to market the house to. They know the profile of an ideal buyer for the house before even stepping into the house to meet the sellers.
As a coach who specializes with Real Estate Professionals, I have my coaching systems streamlined to that industry. My intake forms and session update forms talk their language. I have a business planning process I have created and offer to every one of my clients that walks them through the process not in a general business sense, but very industry specific to Realtors and Real Estate Managers. My plans have evolved and improved over the years with input from clients who are all very similar to each other and therefore all of my client’s benefit. Coaches who specialize are able to streamline their procedures. Group coaches who always coach groups for 90 day periods have set procedures that they are able to perfect over time. Coaches who coach around certain areas such as divorce are able to have a tool box of resources and materials that will benefit all of their clients.
Being a specialist sometimes starts with self-proclamation. However, if you are going to call yourself a specialist, you are going to do the needed research to accurately display that title. For my real estate clients this means researching neighborhoods or types of property. For coaches it may mean reading information, attending Teleclasses, keeping up with trade publications or conferences. Virtual Assistants who want to specialize with coaches attend the same conferences coaches do; they read the same magazines coaches do. They keep up on what is happening in the coaching industry.
If a Realtor calls herself a lakeshore specialist, but does not know anything about the laws and conditions that effect lakeshore property sales, her marketing efforts will fall flat as those who respond to her advertising discover she does not possess the required skills needed to sell lakeshore property and accurately call herself a “Lakeshore Specialist.” If on the other hand, you provide potential clients with information on the lakes in the area and links on your website to provide them with valuable information, long before they become clients, you will earn their trust and you will soon be able to charge higher fees as a specialist instead of a generalist.
How about you, what is your niche? Taking the time to really discover what it is could prove to be a very valuable to your business.
How many times in your business have you heard, “You need to choose a niche”? While nearly everyone talks about the benefits of a niche and that they need to find theirs:
How do you really choose a niche?
How do you know the right one?
Will you really like it?
Will it prove profitable?
For me, in the beginning it seemed to boil down to one critical question: How was I going to attract clients?
I understood finding my target audience from the marketing I had done in my previous businesses. After hearing the speakers, taking the classes, and reading the books about the importance of choosing a niche, I began to understand that to really have effective advertising, my business and marketing plans must start with a clear idea of what my niche market would be.
I am a business and life coach for Real Estate Professionals. Okay, there are still a million Realtors in the United States, but to be honest, when I first began coaching I thought that niche was too narrow. I knew there were other Real Estate Coaches out there. All I could focus on was the overwhelming feeling that came to me in trying to figure out how was I suppose to compete with the other coaches with that same niche. So, I decided I wasn't going to limit myself. I decided I was also going to work with small business owners. They were kind of like real estate professionals since they both had small business and I had owned several small businesses in the past. I knew there were a lot of small business owners out there.
We are all different. Why shouldn’t our Expired Listing Plan be different?
In the past, I have taken some time to talk about how to adjust a generic Expired Prospecting Plan to make it fit for your area in my article A Tale of Three Agents. I reference them in this article so click here to read that article first.
The next way I encourage you to adjust an Expired Plan after you have adapted it to fit your Market Area is by customizing it to fit your STYLE.
When I say style, I mean Behavioral Styles. All of the clients I work with are given a DiSC Profile. This helps me as a coach to understand who they are and for the Realtor to understand and build off their strengths.
I am sure many of you are familiar with DiSC, but if you are not or would like more information, log on to www.DiSCForRealEstate.com and click on the “What is DiSC” tab.
I am going to give a very brief overview before going on to explain how my clients have adapted their Expired Programs to fit their styles.
The DiSC® model provides nonjudgmental language for exploring behavioral issues across four primary dimensions:
Dominance: Direct and Decisive. D’s are strong-willed, strong-minded people who like accepting challenges, taking action, and getting immediate results.
Influence: Optimistic and Outgoing. I’s are “people people” who like participating on teams, sharing ideas, and energizing and entertaining others.
Steadiness: Sympathetic and Cooperative. S’s are helpful people who like working behind the scenes, performing in consistent and predictable ways, and being good listeners.
Conscientiousness: Concerned and Correct. C’s are sticklers for quality and like planning ahead, employing systematic approaches, and checking and re-checking for accuracy.
Most agents I work with usually come up with a primary and secondary style.
Many agents come up with High “Ds” as one of their two highest styles. Although being a High D is great when it comes to running a team, or closing a buyer, it can be intimidating to prospects early on and can be perceived as being pushy. In this case I encourage them to turn down their”D” and concentrate on the other highest style.
Remember the three agents I told you about in A Tale of Three Agents? They were the City Agent, the Suburb Agent and the Rural Agent? They all have different styles.
Based on what I told you about the City Agent’s Expired Plan, can you guess what style he is? Remember:
He is on the phone calling Expired Listings every day from 9:30 am to 10 am without fail. His intention with the phone calls is to see if the homeowner is still interested in selling their home and to make an appointment to come out, that day if possible.
After making phone calls, setting appointments and talking to those that are home; this City Agent then spends 30 minutes making up packets to drop off at the homes that he was not able to talk to.
City Agent is a High C.
Conscientiousness: Concerned and Correct.
C’s are sticklers for quality and like planning ahead, employing systematic approaches.
He does the same thing at the same time everyday without fail. He is very accurate, very precious and a very good agent.
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How about Suburban Agent? What style do you think she is based on the way she adapted her Expired Plan to fit her style as well as her market area. Remember she is the one that:
Uploads the picture, creates the card that then is printed in her handwriting and sent that day. She then sends out a post card through the same system 3 days later and another card 3 days after that. She continues with cards weekly for four more weeks and then puts them on a monthly card and postcard campaign which is automated through this system.
Suburban Agent is a High “S”
Steadiness: Sympathetic and Cooperative.
S’s are helpful people, performing in consistent and predictable ways, and are good listeners.
She created a system that she can put in motion that seems to be very personal, but is totally automated.
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So how the marketing person for Rural Agent?
Remember the marketing person:
She has a number of different scripts to use when she calls, but she never uses them. She was born and raised in the small rural community and knows most of the people (or some mutual acquaintance anyway!) in the tri-county area. She just calls them starts to chat with them, builds report and sets the appointment for the lead agent.
She chats with the neighbors when dropping off packets and even gets listing appointment through the neighbors who she builds report with.
She is probably the biggest “I” I have ever met
Influence: Optimistic and Outgoing.
I’s are “people people” who like energizing and entertaining others.
She has really put her natural gift of gab to work!
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Which of the four styles do you think best describes you? How can you customize your Expired Plan so that it will really play off your strengths?
I run come across so many agents that are trying to fit into molds and read scripts and send letters that is not who they are. Trying to do this business like someone you are not is not going to allow you to reach your full potential. Who are you and how can you create your business around THAT style.
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I also want to touch on just briefly is how to customize your Expired Plan to fit the style of your prospects.
I just outlined for you the four DiSC Styles and encouraged you to draw from your strengths. I also encourage you to adapt your style to better relate to your prospect’s style.
Now I don’t want to confuse anyone so let me clarify that a person’s style is not influenced by if they live in the city, the suburbs or a rural area. You cannot assume that because your prospect lives in a certain neighborhood and that your accountant lives in that neighborhood, therefore all people in that neighborhood must be High “Cs” You must not generalize like this.
If, however, you call someone on the phone or meet them when you drop off a packet, pay attention to what people say and how they say it.
Do they talk fast and vibrantly?
Are they more systematic in their responses?
Are they very precise in their answers?
If you are a High “I” and talking loud and fast and the prospect on the other side of the door or telephone is slower speaking, more exact in their word choice, how much rapport are you building. While I encourage you to be yourself, I also encourage you to tone down extremes if you don’t seem to be connecting with people.
People Reading can be one of the most effective sales tools I work on with my clients. Using the DiSC Styles in People Reading is beneficial whether you are working with Expired Listings, FSBOs, sellers, buyers, everyone. To build rapport, it is import to listen, observe and adjust your presentation in order to build rapport. Remember, it is about them, not all about you.
When you as a Real Estate Agent adapt an Expired plan to your Market Area, you need to adjust that plan to fit “where” you are working expireds.
Before I give you examples of three clients that have modified Expired Plans to meet their areas, I want to make sure everyone is clear on what the goal of working expired listings is: “getting the listing appointment.” Now, actually getting the listing at a marketable price and then selling that listing are two other articles, but here we are going to be talking about “getting your foot in the door.” I have three clients in total different market areas that use three totally different approaches.
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The City Agent: The first Realtor is located in the city. He uses the ExpiredRealEstateLeads.com program to locate the Expired Listings every morning. (Let me stress how important it is to work Expired Listings daily. It is crucial to contact them right away. A large percentage of Expireds will relist immediately. If you are only working Expireds on say a weekly basis, you will not be able to get your foot in the door simply because you are too late.)
This City Agent works Expireds in areas that he farms and is very familiar with. There are also a very large percentage of homes in his area that ARE NOT on the Do Not Call list. This agent is on the phone calling Expired Listings every day from 9:30 am to 10 am without fail. His intention with the phone calls is to see if the homeowner is still interested in selling their home and to make an appointment to come out, that day if possible.
After making phone calls, setting appointments and talking to those that are home; this City Agent then spends 30 minutes making up packets to drop off at the homes that he was not able to talk to. In these packets he includes some marketing materials about himself, some market update information about the current conditions in the area in their price range, and personal letter about why he wants to list their property and why he thinks he can sell it.
Between 4-5 pm, this City Agent then drops off these packets hoping to run into home owners that are getting home from work. Because traffic and parking are an issue and his market area and neighborhood are condensed, he creates a plan and walks the packets to the front doors of the 4-5 Expired listings for the day.
Now there is continued follow up that he does if he is not able to get an appointment right away, he will follow up two days later with a phone call to make sure they received the packet and weekly phone calls for the next two weeks along with one other mailing that first week and then weekly mailings for the next five weeks.
Using this approach gets this City Agent 3-4 listing appointments a week and 1-2 sellable listings.
Would this kind of approach work in your area?
The Suburban Agent: The second client I am going to tell you about lives in an upper middle class suburban area in the Midwest. This Suburban Agent’s area is very different than the first one I told you about. 99% of the homes are on the Do Not Call List and calling just is not something that works for her area.
Many of the neighborhoods have a no soliciting policy and even if they don’t have a formal posted ordinance regarding door knocking, it is something that is frowned upon and not something that works in her area.
This Suburban Agent also looks up the Expireds through ExpiredRealEstateLeads.com daily, but what she does is makes a list of the homes and drives by them taking a picture of the front of the house.
Because so many agents are sending the same thing, including information about themselves and the company and a standard cover letter, she has found the way for her to stick out is to send a greeting card in an envelope that is personally addressed to the homeowner.
The greeting card is in an envelope that gets opened and the card has a photo of their house on the front. On the inside is a handwritten note that is personally addressed to the homeowner that says simply “I want to sell your house, and I think I can. I know you will be getting a lot of mailings form numerous other agents, but I would love to meet with you to show you why I am different. Please call me so we can set up a time to meet. I look forward to meeting you.” And she signs her name and includes a copy of her business card.
The Suburban Agent uploads the picture, creates the card that then is printed in her handwriting and sent that day and it costs her less than a dollar, plus the cost of the stamp.
Now, like the City Agent, this Suburban Agent doesn’t just make that first initial contact and leave it at that. She sends out a post card through the same system 3 days later and another card 3 days after that. She continues with cards weekly for four more weeks and then puts them on a monthly card and postcard campaign which is automated through this system.
A couple of years ago in her area it would have been considered a waste of money and time to continue to follow up with this lead for a year. However, she has found that many homeowners in her area have decided to pull their home off the market for a period of time before putting it back on the market. This Suburban Agent is going on 4-6 listing appointments a week and over half of them have been expired for over 3 months.
Would this kind of approach work in your area?
The Rural Agent: The last client of mine I want to tell you about today lives in a rural area in the North West. This Rural Agent has actually hired a marketing person that gets compensated just for getting listing appointments. That is her only responsibility on the team five days a week and she rarely goes a day without getting at least one listing appointment, usually it is 2 or 3. That is 10-15 listing appointments a week.
How many of you on the call are drooling over the thought of having someone else doing all of your prospecting so all you had to do is go out and do the listing presentation and sign listing agreements all day?
Like I mentioned, she does this in a rural area so door knocking would definitely not work in this area. Because she is such a high volume agent in a sparsely populated area, she does cover several counties in order to hit her production goals.
Now the marketing person on this team has a number of different scripts to use when she calls, but she never uses them. She was born and raised in a small rural community and knows most of the people (or some mutual acquaintance anyway!) in the tri-county area. She just calls them, starts to chat with them, builds rapport and sets the appointment for the lead agent.
If she is not able to reach the people by phone, she begins compiling a packet that again includes information about the team, a sampling of the marketing materials they use and a personal handwritten note to the seller.
This person then maps out the homes that Expired that day and right after lunch, begins to drive to each of the homes she was not able to talk to that day and personal drops off a packet. Again, her hope is to run into the seller and set that appointment. She has even received calls to set up listing appointments after she has run into the neighbors while out there, chats with them for a while and ends with a half joking remark to the neighbors telling them to encourage the sellers to call them if they are serious about getting their home sold. She even gets the neighbors working for her!
Again, she has a follow up plan in place to follow up the next day with a phone call to make sure they received the information, another mailing 3 days later, and again three days after that. Weekly calls and mailings for the first six week if the property does not relist or they inform her they would like wait for an extended period of time and then she just puts them on her monthly Lead Farm Mailing after that and never takes them off. She figures they will sell someday and if not, she has enough rapport with them after the personal contact that she might get (and has gotten) referrals from them.
How many of you think this type of approach might work in your area?
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I gave you examples of three very different areas. I tried to choose areas that would represent the majority. But if I didn’t describe your area, what could you do to a standard marketing plan that would make it fit your area better?
I work with an agent that works in very elite areas that have household help that open their mail for them and discard any junk mail. She also uses the personal greeting card system with a very short personal handwritten message inside.
I work with agents in resort and second home markets that have owners that live in other states. Most of their contact is done through high quality mailings.
I have another agent in a very high tech area so his mailings direct them to his website where most of the expireds decide to email him and set up a listing presentation. ------ What might work in your area? Take out a piece of paper and take 20-30 seconds to describe your market area and list one thing that you might want to try in your market area. ----- Real Estate Coach Cheri Alguire helps Real Estate Agents get more listings and make money in any type of market. To find out more about her Expired Real Estate Leads Program visit http://expiredrealestateleads.com/ or visit http://www.prorealestatecoach.com/ to find out about her Real Estate Coaching Programs.
I am a real estate business coach. I have worked with hundreds and hundreds of clients over the past 7 years, and, you know what? Something has changed with most of my clients’ businesses over the past few years. My guess is that if you are a real estate professional, this is also true to some extent for your business as well.
I will tell you one other thing about many of my clients; most of them are exceeding their goals and many are having their best years yet.
They are in all different types of markets. I have clients in markets across California that have had 30 percent decline in values and record breaking foreclosure rates, and clients in areas of Tennessee where Days on Market are just now beginning to creep up there and everything in-between.
I have clients in many different areas across the United States. I have clients in the Midwest, clients on the West Coast, and clients on the East Coast.
I work with agents that target many different price ranges and niches of clients.
I work with agents that are solo agents; I work with agents that have mega teams, agents that have been in the business less than two years and agents that have been in this business for over 30 years.
Most of my clients have been successful over the past year because they have really learned to do one thing extremely well. Work Expired Listings. Now three years ago, most of them where having success because they mastered working FSBO Listings, but they all really had the pulse of their markets and shifted their focus early and deliberately to Expired Listings.
On May 20, 2008 I did a TeleSeminar on working Expired Real Estate Leads. To listen to that TeleSeminar go to www.ExpiredRealEstateLeads.com
I will be sharing with you over the next few weeks what I shared with the participants of that TeleSeminar.
What I am NOT going to give you over the next several weeks is scripts and dialogs of what you need to memorize to say or what to send to potential listings. Most of you already have a “plan” or “scripts” or ”letters” you picked up from a speaker or a book, or from your expired system or from the Top Producer Library. If you don’t, you need something to start with. Go to Realtor.org and look up the article titled Prospecting Plan for Expireds. There is a copy of that article posted on the Tips Page at ExpiredRealEstateLeads.com.
What I AM going talk to you about over the next few weeks is how to take that plan from NAR, or one from another source, and adapt it to fit
Your Market Area
Your Style
Your Individual Prospects
I am sure you enjoy the stories over the next few weeks of
The real estate market is slower right now and more and more home sellers who want and need to sell are not doing so as quickly as in the past.This means there is a bigger pool of potential clients in the expired listings that pop up every day. How:
The best place to find your Expired Listing Leads is through a program that will check your MLS System, double check them to make sure they have not been immediately re-listed, cross-reference them with the local tax records, find owners’ names and contact information including telephone numbers, and then check those numbers against the Do Not Call List.Now, this can all be done by your administrative assistant, or by you, but that would be an extremely time consuming.It is best to use a service like the one at ExpiredRealEstateLeads.com
Who:
Your assistant can get the list - and apply a preset action plan - and even do the mailings to the Expired Listing, however, an experienced agent or team member that is experienced at calling leads and setting appointments must also be involved.Once the appointment is set, the agent do the listing presentation must be good converting that appointment to a signed listing contract.Chances are, you will be in competition for this listing and the potential client has already had their house listed for a period of time and they are clearer on what they want to see from their new agent.
Where:
The expired real estate listings you are going after will be in the Farm areas you work, in the areas and neighborhoods that are selling the quickest in the current market in your area, and in the price ranges that are currently selling the quickest in your current market conditions.It is imperative that you stay extremely updated with these ever changing market statistics in order to best direct your efforts.
When:
You need to contact expired listing leads immediately and continuously.This means your first contact should be the day the property comes up as expired.Many expired listing leads will want and need to get their house back on the market as soon as possible.It is also important to note that there will be a multitude of agents contacting this lead on the first day or two after it expires.For those leads that take time to make up their mind in who they will relist with, it will be important to have continued contact that lessens in frequency of contacts over the next days, weeks and sometimes even months ahead.
What:
A combination of phone calls, mailings, drop-bys and even emails when that information is available.Different people respond differently to different forms of contact and you are never sure which one will be the best method for this lead.
Remember, the goal of these contacts is to get the appointment and eventually the listing!
While training for my half-marathon, I needed some knowledge of running fundamentals.In deciding to become a student of the game of running, I immediately headed to the nearest bookstore.Let me tell you, there are a LOT of books on running and I looked through every single one.In fact, I spent so much time at the bookstore browsing through running books; I got more than one weird look from the sales clerk!
Once I read these books, and the other three that I’d purchased, I also spent some time on the Internet.I took a lot of notes and, along with my trainer, eventually developed a training program I could stick to.Beyond that, the information I learned gave me the ability to see the finish line clearly.Before this, both the half-marathon and the actual running of it were nothing more than a fuzzy goal in my mind.
When you take the time to educate yourself, these fuzzy goals become clearer, make more sense, and you can finally begin to truly visualize yourself meeting them.
What I want you to do – RIGHT NOW – is make a list regarding your goals.I want you to answer these questions:
What is the category my goals fall in?
What information do I currently have on this category?
What else do I need to know?
Where can I go for this information?Think about the Internet, bookstores, libraries, coaches and/or trainers, and possible mentors that already have this information.
What do I hope to learn?
How will this make a difference in my meeting my goals?
As you answer these questions and seek the knowledge, you will gain power.Your goal will become more defined and you will be even more anxious to get started!Education is a strong motivator for success.Educate yourself first and success will follow!
Knowledge is power!Learning has never been easier.You can research practically anything on the Internet.Books have been written on virtually every subject known to man.Don’t worry if you don’t know how to do something – the information is out there to teach you.
Cheri Alguire is a real estate, business and life coach who partners with you to help you take your business and your life to the next level of success. For more information on Cheri Alguire's book 13 Lessons Learned in 13.1 Miles, visit www.13lessons.com For more information on Cheri Alguire can partner with you to take your real estate business to the next level, please visit http://www.CoachCheri.com
I can honestly say that – WHATEVER YOUR GOAL – learning the game, becoming a student of the game, will help you get you the results you want.Why?Because you will take the time to inform yourself of the path ahead, and by doing so, you will increase your chances of success by a very large margin.
Regardless of the event, the industry, or the focus of your goal – it is critical to learn about the game, the rules of the game, and the best way to meet the objective of the game.The only way to do this is to become a student of the game.
What does all this mean?Honestly, it’s a lot simpler than it sounds!Delving in a little deeper, let’s use an example of publishing a book along with an example of running.Say your goal is to publish a book you have written.You will want to follow these steps:
1.Learn About the Game:Determine the category your goal falls in.In the example of publishing, is your book fiction or non-fiction?In the example of running, are you interested mainly in getting fit or, do you need to know more about endurance for, say, a half-marathon?
Once you know the category your goal falls in, you will know where to begin gleaning information to educate yourself.If you have written a non-fiction book on Chinese Wedding Traditions, for example, learning about publishers that focus on fiction isn’t going to help you much.Taking that a bit further, you will need to focus on the type of non-fiction book you are wanting to market.
Likewise, if you are mostly interested in endurance training, learning the ins and outs of strengthening your body for a half-marathon are most important on your list.While you could certainly receive worthwhile information by looking at fitness as a whole, you needed to focus more in order to truly “get it.”
Know your goal.Know the goal’s industry.Know the category.
2.Learn the Rules of the Game.Okay, so you know the category your goal falls into.Now, it’s time to learn the rules for that category.Again, using publishing as an example, you want to find the best publisher for your book on Chinese Wedding Traditions.Where do you start?What about the example of learning how to gain endurance for running a half-marathon?Where would you start?
Regardless of the industry, regardless of the category, there are people who have gone before you.Many of those people have written books, articles, created Web sites, and train or teach others how to be successful.These are the resources you want to tap!I recommend starting on the Internet because it’s a free resource that can give you a ton of information very quickly.
After you’ve spent some time researching on the net, you may find books, audio-books, DVDs, or even organizations devoted to what you’re trying to learn about.It’s completely up to you how you choose to educate yourself at this point.You can join some of these organizations, hire a trainer or a coach, purchase a book or five, or any combination of the resources available to you that you want.
Educate yourself.Study the rules.Learn the rules.
3.Learn the best way to meet the Objective of the Game.You’ve spent some time educating yourself on the ins and outs of the industry and the category of your goal.You have a lot more information about this than you previously did – CONGRATULATIONS!Now, take this information and you apply it to your personal goal.
Back to our example of publishing a non-fiction book on Chinese Wedding Traditions, the research conducted should give a clear idea of the correct publishers that would be interested in this type of book.Along with this, the knowledge of how to approach these publishers should also have been learned.Now, you know the proper way to begin meeting your objective.
In the goal of running a half-marathon, you should learn about running in particular.How you need to train and what to do each step of the way, such as the best way to increase your endurance, stretching exercises for before and after you run, and additional tips that will help you plan your attack.All of this knowledge will allow you to better plan so you will be ready to run a half-marathon when the time comes.
Research the rules.Understand the rules.Plan your attack.
4.Becoming a Student of the Game.By following the above three steps, you can become a student of any game!This is the best way to achieve the goal in front of you, regardless of what your goal is.
You absolutely need to acclimate yourself as much as possible.This will allow you to SUCCEED, which is the point of making a goal, isn’t it?
When you take the time to educate yourself and plan accordingly, even the seemingly most difficult objectives become easier to manage.
üLearn About YOUR Game.
üLearn the Rules of YOUR Game.
üMeet YOUR objective.
People all over the world are learning new things every day.Education is an important facet in life, in all professions, and in almost every single thing we do.
When you were a child, you had to learn to tie your shoes.When you were a teenager, you had to learn how to drive.When you entered college and/or the workforce, you had to learn the rules of your surroundings.Our entire lives are made up of “learning the game” and of being a “student of the game.”Meeting your goals are no different!
Running is like the Real Estate business.You can do it by yourself.You can do it with a group.You can do it anywhere.Other than a good pair of running shoes or possible a telephone, you don’t need any special equipment.With these facts in mind, I figured learning to run or running a business wouldn’t be that difficult.After all, running is one of the most popular forms of fitness and there are so many small businesses out there.It couldn’t be that difficult with so many people involved in the sport, right?
Wrong!When I decided to get out there and just do it, I found it far more difficult than I’d anticipated.Who knew running (the sport or running a business) would be so hard?I realized, quickly, that I’d not only underestimated the sport itself, but my own ability to acclimate by just doing it.
You may find yourself in a similar situation, depending on what your overall goals are.It’s not fun feeling like we’re in over our head and goals are ripe for this.What do you do if this happens to you?Basically, you have three choices:
Give up.Wow, this is so much harder than I thought!I was completely deluding myself into believing this is something I could do.No way can I accomplish this goal at this time in my life, so I’m going to set it aside and focus on something I feel more comfortable with.
Blindly forge ahead.Okay, so this is harder than I thought, but that’s alright.This is my goal and I’m determined to reach it, so I’ll just forge ahead.Eventually, everything will sink in and I’ll be more comfortable and everything will be fine.
Learn the game.Maybe you’re feeling a little discouraged, but you’re not ready to give up.You’re also not ready to forge ahead without more information.So you decide to learn the game, inform yourself, and then plan your strategy.
What are you learning to “run?”You might not be learning to run long distance, but you might be learning to run your business in slower economic times.Or you may be learning to run your Real Estate Business in a Real Estate market that is so very different than when you first learned it.
What are you going to do?Give up?Blindly forge ahead?Or learn the game?The choice is yours to make.
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Cheri Alguire is a real estate, business and life coach who partners with you to help you take your business and your life to the next level of success. For more information on Cheri Alguire's book 13 Lessons Learned in 13.1 Miles, visit www.13lessons.com For more information on Cheri Alguire please visit www.ProRealEstateCoach.com
With the average days on market up in many markets across the county, more and more Expired Listings are showing up on a daily basis.Expired listings are a great lead source, but only if you have a plan to work locate, follow up with, list at an appropriate price and then market properly so that it will attract buyer leads and then sell. You can find Expired Listing on your local MLS system, or you can use a program like that one outlined at www.ExpiredRealEstateLeads.com that will do much of this initial research.
Then what?We will be talking about that in the weeks to come.Below you will find some information from NAR.What do you think about this plan?How would you modify it to fit with your market?Your style?Send me your comments and we will review that next week.
Use this plan as a basis for prospecting for expireds. Add other successful strategies you have tried as you learn more about what is most effective in your market.
Locate Expireds You should spend 30 minutes each morning, as early as possible, printing out a list of expired listings from the MLS.
Focus on expired properties in your market area or that you feel have a strong market appeal because of price or features.
Keep track of how long properties that you consider particularly salable have been on the market. If you learn that a listing is about to expire, offer a referral fee to the listing salesperson to let you negotiate a new listing with the seller prior to expiration. This gives you the inside track.
What other lead sources for expireds have you found helpful?
Develop a Tracking System You often will need several weeks of contact before you can convert an expired to a listing. Once they’ve had a bad experience with another real estate practitioner, expireds may not be immediately receptive to a real estate practitioner. You will need to demonstrate to them why you’re different than their prior salesperson.
Your tracking system should include:
Name, address, and phone number of expired
Information on the property from the MLS, including previous list price, and, if possible, days on the market.
Date that the listing expired and previous salesperson.
Date, time, medium of every contact, and response with an expired, in chronological order—for example, phone call at 9 a.m. on 9/14, offered free comparable market analysis. If you do mailings or e-mails to expireds, be sure to include those contacts in your tracking system.
Other tracking information you’ve found valuable:
Develop a Solicitation Schedule Although expireds are usually sold on working with a real estate salesperson, a bad experience with their previous real estate associate may make them distrustful of your promises. Keep this in mind, and focus your solicitation on providing consultative services that emphasize your past successes.
Week One On the day the listing expires Mail, or better yet drop off, a marketing package. If possible, do something to make your marketing package stand out from the many others an expired is likely to receive. Options include, sending it in a colorful or oversized envelope, adding a special delivery or personal/confidential stamp, or hanging it on the door in a plastic bag preprinted with you name and a drawing of a house.
Later that week Mailings: Send a follow-up letter or postcard if you don’t get an appointment. Again, provide a supportive message, such as “Sometimes, even a great home doesn’t sell right away.” Also include a statistic noting what percentage of your listings sell in 90 days or less.
What other techniques have you used for making initial contact?
Week Two Recheck the MLS to be sure that the home was not re-listed. Also drive by the house and look for a sign. Be alert to the possibility that a frustrated expired might become a FSBO.
Mail another marketing letter, emphasizing your success rate in selling listings in 90 days or less. Include information on any recent sales near the expired’s home, to subtly reinforce the going price range for the area.
Other techniques for maintaining contact:
Week Three
Recheck the MLS to be sure that the home has not re-listed.
Phone calls: Follow up to ensure that expired has received your service package. Use this opportunity to ask if you can come over and see the house so that you can keep your buyer clients informed of everything available in the neighborhood. Low-traffic times at open houses are a good time to make expired follow-up calls, suggests author Danielle Kennedy.
Buyer interest: If you have an appropriate customer, call expireds and ask if they would be willing for you to show the house to a buyer.
Other techniques for getting your foot in the door:
Week Four Recheck the MLS to be sure that the home has not re-listed. Drive by and check for a yard sign.
Listing presentation: If you’ve gotten an appointment and the mood is right, present a prepared listing agreement during your visit for signature. As an alternative, promise the expireds that you will complete a marketing plan of the property within 48 hours for their review. Present the plan, then ask for the listing.
Final letter: If you’ve been unable to get an appointment, send a final letter asking expireds if their interest in selling their property has waned. Enclose a personal marketing brochure and suggest that they keep it for future reference if they later decide to list again.
You have heard the arguments for having accountability in achieving your goals and you’ve decided to bring one or two or a dozen people into the process of achieving your goal. How do you start? What can you do to make sure the accountability functions as you want it to, as it’s supposed to?
Who to pick and how many do you need for your accountability circle? For some, this is an easy question – they have a best friend, a sibling, another family member, a professional coach or even a colleague that they immediately gravitate to. Who you choose, and how many, is a very personal choice, but there are a few things to think about when selecting the members (or member, because you may only need one person!) of your accountability circle:
1. If it’s a personal goal that has nothing to do with your business or professional life, consider choosing a person who is in your personal life over one from your business/professional life.
2. Likewise, if your goal is a business goal – you may have a stronger feeling of accountability if you choose those from your professional life who will have a better understanding of your goal and the reasons why you’re pursuing it.
3. Select an individual (or individuals) that honestly want the best for you. Choosing someone you’re in constant competition with may have one set of benefits (you may work harder to win over them), but you really need at least ONE person that is completely on your side.
4. Consider finding those that have the same goal you do. Whether it’s a professional goal or a personal one, when you have others alongside you reaching for the same goals, it can become a mutually rewarding support system. This could be members of a Master Mind Group or a Group Coaching Program.
5. Hire a coach! Coaches are uniquely trained to help hold you accountable to your goals.
Once you have picked the members of your accountability circle and they have agreed to participate in keeping you accountability, it will be time to decide how often you will check in with them and how exactly you will do that. You could meet in person, over the phone, via email or even through some other form of social networking.
How about you? Who do you have in your accountability circle? Maybe it is time to find someone who will really hold you accountable and who really wants the best for you!
Real Estate Agent Survival Guide: A Recipe for Lemonade
By Cheri Alguire
Are you sick of all of the bad publicity you hear on the news about the Real Estate Industry?
Are you sitting on a bunch of listings yet not had a sale in months?
Are buyers running you all over the place and then too afraid to put in an offer?
Wondering if this industry is worth sticking it out for any longer?
If you answered yes to any of the above questions, then it may be time to make some lemonade.
Yes, there has been more bad publicity about the bad real estate market than we can even keep up with.
Yes, days on market are higher than they have been in a very long time in many markets across the country.
Yes, buyers take more work and listings take more work and even after more work, many times nothing comes from it.
Yes, there are a lot of lemons!
We all know what we are supposed to do when life (or the real estate market) gives us lemons.But do you want to make lemonade?Are you willing to stick it out?Are you willing to go through the messy process of making lemonade?It is not as easy buying that premade lemonade.It is not as convenient, it takes a lot longer, and it can be sticky.The first thing you need to do is to decide that yes, you are going to take these lemons and make lemonade.It can’t be a half-hearted attempt, that won’t do!If you don’t want to make your own lemonade, don’t really care for lemonade and aren’t willing to go through the process and work, then it might be time to find another way to make a living.
Harsh? You bet!I will not sugar coat this or say that it will be easy.
Can it be done? You bet!And it can be wonderful.
The first thing you need to do, in order to make lemonade, is to commit!
Once you have decided to make lemonade, there are many recipes to making the sweet beverage.To make it in this kind of a market, there are many recipes an agent can follow.
Not sure where to start?Why not start with one of these ingredients:
Expired Listings
First Time Home Buyers
Investors
Short Sale Listings
Builders
Bank Owned Properties
Remember, there are many other ingredients that are common in today’s market:
More agents are getting out or not even entering which means less competition
Sellers are not putting pressure on you to discount commissions
Interest rates are low
Both buyers and seller realize how valuable your services are in this type of a market and value you as a professional
So, are you going to make lemonade?Or are you considering something else until the market turns around?Or both?
In order to celebrate this market, I am offering a very limited Group Coaching Program:Real Estate Lemonade Making.Sign up to listen to the free preview call on Wednesday, March 5th at 10:00 am PT/1 pm ET at http://www.prorealestatecoach.com/pages/contact-us.htm
Cheri Alguire has personal coached hundreds of Real Estate Professionals in all types of markets.She has been active in the Real Estate Industry since 1988 and has personally coached Top Producers, Rookie Agents, Owners, Brokers and Managers.Find out more at www.ProRealEstateCoach.com
Accountability is a critical element in the goal setting and goal achieving process. Many people brush it off under the belief that it doesn’t really make that much of a difference. This belief is not only incorrect, but the lack of accountability is completely detrimental to the overall success of achieving a goal.
Accountability is serious! In the Real Estate world, where there are clients, prospects, brokers, and agents, more and more information is necessary to keep things running smoothly. This increased amount of information is a form of accountability, as is communication, and while every real estate company will have different levels of accountability, I guarantee you that none exist without it.
In our families and personal lives, accountability is just as essential as in the real estate world. What we want, how we go about getting it, and the overall success can be related back to – yep, you got it, accountability. Think about how successful your kids would be in completing their chores if there were no accountability.
I remember speaking with a friend shortly after agreeing to run a half-marathon. This friend of mine is an avid runner, so she was immediately interested in the event and, wonders of wonders, even wanted to do it with me. If, by any stretch of the imagination, I wasn’t fully committed before this moment, agreeing to run this marathon with my friend Jennifer sealed the deal.
With Jennifer holding me accountable, I had no choice but to follow through – after all, I couldn’t rely on anyone “forgetting” about my commitment now! My friend didn’t live near me, which meant we couldn’t physically train together, but every time we spoke – she asked about MY training. Between you and me, I hadn’t even started to train at this point, but I certainly didn’t want to fess up to that! So, I’d lie through my teeth and say, “Great!” every time she asked.
Well, let’s be honest here – I could lie all I wanted to, but the proof would be right there in front of my friend’s eyes on the day of the marathon. By her continually bringing it up and reminding me, I was forced to keep it in mind. This propelled me to (eventually) get moving so I’d be able to answer her honestly!
As I said before, accountability is one of the essential elements in your succeeding at any goal you set. So, who are you accountable to?
You hold people accountable all the time, your buyers, your sellers, your kids, your husband. But who holds you accountable to doing what you need to do every day to be successful in business (following upon leads, creating the marketing plan) and in life (taking “ME” time, balancing time off?) Maybe it is time you found someone to help hold you accountable.
Maybe it is time to enlist an accountability partner or hire a coach. Maybe it is time to really do what it takes to get to the next level. --- Real Estate Coach Cheri Alguire partners with Working Moms, Small Business Owner Moms, and Real Estate Moms to hold them accountable to creating and following the plan that will take their businesses and their lives to the next level. Find out more at www.CoachCheri.com and www.RealEstateMoms.com
As real estate agents, we have all heard the word "Accountability" used around goal setting, but why? Is it really that big of a deal? Can't we just do it on our own?
Think back to all the goals you've ever made in your real estate career - from the simple ones to the large ones. Which goals were achieved and which weren't? Make a list of at least ten goals you can think of, writing "MET" or "NOT MET" next to each one. This visual exercise may help you understand at least one of the reasons why the NOT MET goals were - well, not met.
My guess is your MET goals were accomplished with the help of at least one other person. A friend, spouse, parent, your broker or a fellow Realtor who was in on your goal, perhaps because it was a goal they shared with you, or perhaps only because they were interested in you and how you were handling it. Regardless, every time you bring another person into a goal, you have a better chance at realizing that goal.
Without accountability, most people are likely to forget why it was so important to them, quit progressing toward it, or simply decide it's not worth the hassle. However, with accountability - meaning you know exactly what you want, when you want it, and there is at least ONE other person who has the same knowledge - guess what, you will more than likely continue toward the finish line.
While humans are really good at admitting defeat to themselves, they are far less able to admit defeat to another person. It's actually (in most cases) easier for them to keep working toward their goal just so they DON'T have to admit they "gave up" to another person.
Accountability works for the following reasons:
Shared Intention - When you share your intention with others, it becomes more real to you, which raises the stakes.
Responsibility - By confiding in another person, you're claiming responsibility to the goal you want to pursue. This creates a more focused outlook as you pursue your goal.
Ownership - Own your goals by bringing another person or persons into the loop. When you take control by placing ownership on your goal - success is far easier reached.
Commitment - Simply by communicating your plan with others forces you, like little else does, to commit. You know they'll be asking about your progress, checking in to see how things are going, and they'll be very interested in the entire process. You almost have no choice but to commit at this stage!
So who can help you keep accountable to your goals so you can move them from the UNMET to the MET category? Do you need an accountability partner? Do you really own your goals by bringing another person into the loop? Who is that person going to be? Just make sure it is someone who will really stretch you, and won't hold you back to their level. It can be a friend, mentor, fellow agent or a professional real estate coach. Whoever it is, make sure they will REALLY hold you accountability to setting and moving those goals to the "MET" category!
Whether it's January, or any other time of the year, you must set SMART Goals. When you use the SMART goals process, you're that much closer to achieving the results you want.
While part of me had thought my past client might forget about the commitment I'd made to her regarding the half-marathon, I still took the time to focus on my goal.This turned out to be a good thing, because she didn't forget!In the summer of 2005, Valerie contacted me again and asked if I was ready to sign up and begin my training. My half-thought promise turned into a full-fledged commitment!
I knew if I was truly going to follow through, I needed to finalize the setting of my goal.This was a little scary, as it was far above anything I had ever imagined myself doing.The marathon was 13.1 miles. Even for people who do run, that's not a short hike. For me, the non-runner, those miles seemed excruciatingly long.
While I did workout, and tried to keep myself in shape, I was not an athlete by any stretch of the imagination. I was a business owner and a mother to three teenagers. However, I was also a coach. I knew how to stretch my clients to help them move out of their comfort zones in order to reach the successes they dreamed of.
In the way life is, I was about to become my own client. I was about to use all the skills I taught others to ready myself for the biggest "race" of my life.
What is the first thing I did?
I carefully set my goal and I made sure it passed my goal tests.This process started with the SMART Goals I mentioned earlier.
So, what is a SMARTGoal? It's a method used by companies and individuals worldwide, though the process itself differs slightly from organization to organization. I am going to share with you my version of creating and setting SMARTGoals.To begin, answer the following questions:
What do you want? Be specific.
Is the goal stated in positive terms?
What are the logical and chronological steps you'll need to take in order to achieve this goal?
Is the goal within your control?
What stops you from having this goal right this instant?
What kind of person (behavior, attitude, etc.) do you need to be to attain this goal?
How will you handle potential obstacles?
Is the outcome harmful to anyone?
Once you have these questions answered, you must ascertain that you have a SMART Goal. Use the following to define your goal and to see if it is indeed a SMART Goal.
Is it a SMART Goal? See for yourself:
Specific - When you are specific about your goals, you have a far greater chance of seeing success. Vague goals are much more difficult to accomplish.To set a specific goal, you must take into consideration the six "W's."
WHO - Who is involved in the goal?
WHAT - What results do you want?
WHERE - Where is this goal in your life? Is it a career goal? Where in your career does it fall? For example, if your goal is to increase awareness of your business, it falls within the marketing aspect of your career.
WHEN - What is your time frame for this goal? When do you want to see the results?
WHICH - Which steps are needed to achieve the results you want? Are there obstacles? Name them.
WHY - What are your reasons for accomplishing this goal? Be specific.
Measurable - It is essential to develop the exact method you'll use for measuring your progress toward the realization of your goal. Progress that is measured allows you to stay on track, gives you concrete target dates to reach, and puts you in control of the process. Agreed - When you agree to accomplish a goal, you must be accountable to someone else. You will focus harder and achieve more when there are other people in the loop. Pick a business colleague, a family member, or a friend and let them in on your goal, and each step you'll need to take to achieve it. Realistic - With every goal you decide to achieve, be sure it is a realistic goal.This does not mean it can't be a high one! Reach for the sky, but be sure you have the ability, methods, and resources available to make it happen. Timely - Determine if it's an appropriate time in your life to work on each of your goals, as well as the length of time you will need to achieve them. Be honest with yourself and develop a time frame that will lead you to success.
Are your goals for 2008 SMART goals? If not, it may be time to rework them.
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Cheri Alguire is a business and life coach who partners with you to help you take your business and your life to the next level of success. For more information on Cheri Alguire's book 13 Lessons Learned in 13.1 Miles, visit www.13lessons.com For more information on Cheri Alguire and Next Level Services, Inc, can partner with you to take your real estate business to the next level, please visit www.CoachCheri.com
Goals.I have talked about having SMARTGoals in the past.Here are two more fun acronyms to use to make sure you have set great goals.
Is it a PURE Goal?Answer the following:
Positive – Is your goal positively stated?Our brains are tricky and if you have any negative connotations surrounding your goal, you'll have a less likely chance of success.
Understood – Are you sure you completely understand your goal, the methods for achieving it, and the results you want to attain?
Relevant – Is your goal significant to you?Does it connect in your life in an appropriate and significant manner?
Ethical – Does your goal pertain to a high standard?Is it an honest and moral goal?
Now, let's move on and discover if your goal is also a CLEAR Goal:
Challenging – Is your goal challenging to you?Does it fill you with excitement at the possibilities?
Legal – Of course, you don't want to break any laws, so be sure your goal, and the steps to achieve it, all are legal.
Environmentally Sound – Does your goal make sense within your environment?In both your work and your home environment, be sure that your goal is achievable.
Appropriate – Is it an appropriate goal for you to be focused on?If not, why not?
Recorded – Have you recorded your goal and your steps in any form?Checklist, to-do list, calendar – whatever your way, finalize your dreams by putting them into a tangible form.
Using acronyms such as SMART, PURE and CLEAR are great ways to make sure you are writing goals that are really specific enough, clear enough, detailed enough.By having this kind of a goal you can really measure it, you can really create a plan around it, you can really achieve it.How are you doing with your goals for 2008?Maybe it is time to review your goals with a coach who can give you an outside perspective on your goals and your progress.Set and go after those goals and make it a GREAT 2008!
There is a lot of talk about setting goals in January. What is a goal, really? This is what the dictionary says:
Goal(Noun) The result or achievement toward which effort is directed; aim; end
Every January, when you set resolutions, you truly intend to follow up on them. It's likely that among your goals, you have both personal and professional targets you're aiming to accomplish throughout the year.
As a Business and Life Coach, this is also the time that many of my clients work hard to finish their Business Plans and set up their other business goals for the next twelve months. You probably do the same, and these goals may include things such as:
Increasing sales.
Enhanced employee relations.
Better time management.
Advance a new marketing plan.
Sometimes, you set goals that you think will be really easy, when in reality, they're not. Maybe you only have ten pounds to lose, and you figure that will be simple. Or perhaps you simply want to be home thirty minutes earlier each night – that should be a breeze, right? These goals don't seem hard, but it can be that lack of "bigness" that makes us underestimate the process. This can be the difference in whether we actually achieve the results we want or not.
So what are your goals? If you need help figuring that out, my Business and Life Planning guide might be helpful to you. Are your goals too easy? Or do they seem too hard? What is one goal you have for yourself in 2008? Let me know!
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Business and Life Coach Cheri Alguire has helped hundreds of small business owners, Real Estate Agents and moms set goals far above anything they have every dreamed possible and help them to create a plan to achieve those goals. If you are looking to really set and achieve goals this year to take your business and your life to the next level, check out Cheri's Real Estate Business and Life Planning Guides.
If you're like most people, every January 1st, you begin the year with a new set of resolutions. Whether that goal is to lose weight, earn more money, stop smoking, exercise frequently, or even something as deceptively simple as calling your mother more often, the decision you made to make a change is essential. You can't succeed unless you start.
Half-Marathon – Setting My Goal I will never ask you to take something on that I myself wouldn't do, or haven't already accomplished. In 2004, a past coaching client of mine, Valerie, asked me to join Team Emily (www.Team-Emily.com) to run a half or a full marathon for charity. Me – the person who, at that point, thought running had to more to do with dashing to the grocery store on my way home from a meeting – was being asked to run a half-marathon. It's okay to laugh!
I could only run (okay, jog) for maybe twenty minutes on the treadmill before working out. My son Blake, a high school senior at the time and All-State Cross Country Runner, was the runner in my family. I knew if I was going to agree, I would have to work hard. After all, I had never run for more than a mile at a time, and even that took me a good half-hour to finish. This would be 13.1 MILES!
Nervous about the commitment, I still decided to go ahead with it, thinking that it would help me get in shape. I have to admit a small part of me thought that my past client Valerie would forget I'd even agreed, because the half-marathon itself wasn't for another year. But, a little voice inside my head fueled my excitement. The excitement grew to the point where I imagined myself telling my colleagues, family, and friends that "I ran a half-marathon!" Wouldn't that be cool?!
So set that goal, and tell as many people as you can. That is your first step!
What about you? What resolutions did you set on January first? What goals did you set for yourself? For your business? For your family? For your life? Think about those goals? If they were worth setting, aren’t they worth telling someone about? Tell someone, anyone about your new goals. It will help it be more real. You can even share it with me. I would love to hold you accountable to your goal! Just send me your comments. I will post your goals here to inspire others and maybe even remind you of your own goal from time to time!
If I can run 13.1 miles, you can set and accomplish that goal of yours! Make it a GREAT year!
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Cheri Alguire is a business and life coach who partners with you to help you take your business and your life to the next level of success. For more information on Cheri Alguire's book 13 Lessons Learned in 13.1 Miles, visit http://www.13lessons.com For more information on Cheri Alguire and Next Level Services, Inc, please visit http://www.nextlevelservices.net
New Year's Day is the day that many of us make those New Year's Resolutions. I bet you set one or two this year. What are resolutions? I like to think of them as goals being put into reality. Unfortunately, some resolutions only last for hours; some will last for days; some last for weeks.
But what is the trick to really making those goals reality?
I remember in 2004 when a coaching client of mine asked me to join Team Emily and run either a half or a full marathon for charity. This was not something I'd ever considered doing - I wasn't a runner, by any stretch of the imagination. But, the charity was one I couldn't turn my back on so, I agreed to run this half-marathon thinking it was about supporting my client, thinking it was about a scholarship winner that would have their lives touched and changed by this college opportunity. All good enough reasons - more than enough for me to set my goal to run the half-marathon, and more than enough to focus on crossing that finish line.
But, what I didn't know then was what the journey would teach me - the lessons I would learn in those 13.1 miles.
Running a half-marathon was once a goal of mine that is now a reality. So was living in Southern California, getting married to my soul mate and writing a book. I am excited to share with you that I actually have two books that will be coming out in the few months.
A Guide to Getting It: Marketing and Branding will hit store shelves soon. To pre-order an autographed copy visit http://www.cherialguire.com/product/a-guide-to-getting-it-branding-and-marketing-mastery.htm
And, secondly, look for 13 Lessons Learned in 13.1 Miles. In this book, I share 13 lessons with you - lessons that will help you set your goals, face any obstacles on your path, and, ultimately - achieve your goals. The journey isn't always easy, but these 13 lessons will last a lifetime. To find out more information about this book and to sign up for information on when this book will be released visit http://www.13lessons.com
Happy New Year, and go turn those dreams, those goals, those resolutions, into reality!
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Cheri Alguire is a business and life coach who partners with you to help you take your business and your life to the next level of success. For more information on Cheri Alguire's book 13 Lessons Learned in 13.1 Miles, visit http://www.13lessons.com For more information on Cheri Alguire and Next Level Services, Inc, pleas visit http://www.CheriAlguire.com
The only way to start a successful Real Estate business is to do so with a clear purpose. It’s impossible to create a long-lasting and successful business unless you have a far-reaching telescope. Something has to keep driving you to do what you do, or else your Real Estate business will fall under due to empty goals. Purpose provides the foundation of our values, vision and goals. Purpose gives meaning to everything we do in our personal and professional lives, yet not all of us recognize our purpose or can articulate it.
Whenever I begin coaching a Real Estate Professional that is the first part of business that I always walk my clients through. If they don’t have a definite purpose, they can’t build their business on a solid foundation. It all starts by asking yourself questions that may be difficult to answer. When we’re young, we know what our passion is and we don’t care about the obstacles that might occur. We have high hopes and big dreams. In a way, finding our purpose is like back-tracking into our youth and really looking at what we want for ourselves and our future irregardless of everything around us.
Then, I move from personal goals to Real Estate goals and have my client really dig deep into consideration of where he/she is professionally and where he/she would like to go. Find what you want and go after it. Having a purpose is one of the most important things in starting and maintaining a strong Real Estate business. Don’t overlook this in your action plans for next year. It’s never too late to start Real Estate business planning, so get your year off to a GREAT start with a GREAT purpose! Real Estate, Business and Life Coach Cheri Alguire has partnered with hundreds of Real Estate Professionals to help them become more successful in business and in life. Coach Cheri specializes in Group Coaching for Small Business Owners, Working Mothers, Real Estate Agents and Managers. Learn more at www.ProRealEstateCoach.com and www.RealEstateBusinessPlanningGuide.com
If you own a residential property that is declining in value, here are some ways to make the losses less depressing.
Trim property taxes. If a house has lost value, have it reappraised by the municipal assessor. Consider petitioning — or even suing — to get back taxes overpaid in the last few months.
Deduct a home office. Some people avoid the home office deduction because it requires deducting depreciation, but if the property has lost value, this isn’t an issue.
Sale-leaseback with a relative. If you're convinced your property is due for a big price correction and you have equity in the home, then sell now. For example, if you have a $1 million home that has been appraised at $1.8 million, you can sell it and take home $500,000 of the $800,000 gain tax free — due to an exemption on profits from the sale of personal residences. Sell the property to a trusted friend or wealthy relative and then become a tenant and pay the buyer rent at market rates — a much more attractive amount than Treasury bonds are paying now. When the housing market corrects, buy the property back.
Invest in housing futures. The Chicago Mercantile Exchange sells investment instruments that trade based on house price indexes for each of the 10 largest U.S. cities. You can sell futures, buy puts, or sell calls on this market to hedge losses in the value of your home.
Coaching is at an all time high demand lately. With Real Estate fluctuating so much, Real Estate Professionals know that it takes more than just business cards and a license to make a lasting impression in Real Estate. Coaches can help you grow your Real Estate Business by being the new perspective you might be looking for. They can help you with your business plan, lead generation, and much more if you find the right one with the right experience.
In finding a GREAT Real Estate coach to grow your Real Estate Business, here are some questions that I recommend considering before signing anything:
Experience It’s impossible to be an overarching coach. In the same way that with Real Estate, you have to find a niche and some sort of specialty to brand yourself and make your Real Estate Business as attractive as possible to consumers, coaches can’t possibly have the ability to coach people in all sorts of businesses, professions and backgrounds. How can a coach who has experience in spirituality and healthy living properly coach you with your Real Estate business plan, sales tactics, and lead generation? He/she can’t. If you want a coach to grow your Real Estate Business, find a coach who has experience being a Real Estate Agent, or who specializes in coaching Real Estate Professionals.
Certification Coaches seem to be all over the place, and most of them don’t have any certification. Surprised? A lot of times, since there are nearly no colleges that offer degrees in coaching, people will just take on the title “Life Coach” because they want to give people advice. Find a coach who has been certified by a coaching federation or school because certifications do exist for coaches. They need to know the tools to make you reach your goals, and if they have no training, education, or materials to grow your Real Estate business, you’ll find yourself at point A again after spending hundreds or thousands of dollars
Comfort Just because a coach worked for a friend or business associate doesn’t mean the same coach will work for you. If a coach that you’re interested in isn’t offering a free sample session, be wary of what they might be trying to get you contracted for. Your relationship with your coach is just as important as your relationship with an assistant. It has to be comfortable and open for either of you to get anything out if it. Make sure that you sample your coach before signing on with him/her.
Present Is your coach lost in yesterday? As a Real Estate Agent in today’s changing market, you have to be educated and up-to-date with technology, current trends, and everything changing in Real Estate today. If your coach isn’t current, then you might find your Real Estate sales going down the drain. In order to grow your Real Estate business, marketing, advertising and branding are of the utmost importance. These are all contingent upon what’s attractive to home buyers today and are always changing. Make sure your coach is keeping up with the Joneses so you don’t get lost in old business.
Multiplicity Using multiple methods of coaching is also important for your Real Estate coach. Your coach can’t just coach you on your business goals, just as he/she can’t just coach you on your sales. You have to have a well-rounded coach who touches on every aspect of your business and everything that might affect it.
If you’re looking for a Real Estate coach today or for the future, www.ProRealEstateCoach.com can help find the right coach for you.
Real Estate, Business and Life Coach Cheri Alguire has partnered with hundreds of Real Estate Professionals to help them become more successful in business and in life. Coach Cheri specializes in Group Coaching for Small Business Owners, Working Mothers, Real Estate Agents and Managers. Learn more at www.ProRealEstateCoach.com and www.RealEstateBusinessResources.com
A lot of times we forget about all of the different sales niches that are right under our fingertips. We get bogged down by the market slowing down and we think that our methods of sales to new prospective clients isn’t working. Get yourself out of this cycle by opening your eyes to all of the possibilities that are available to you and are right in front of you.
Past clients: How well have your relationships been maintained with past clients? Do you even remember the names of clients from 1 year ago? How about from 5 years ago? It is a necessity to maintain good relationships with past clients because you never know when they are going to give you a referral or even move homes and use you again. Make sure that you stay a consistent part of their lives with various forms of contact: Birthday cards, Home anniversary cards, eNewsletters, etc. Do whatever it takes to make yourself a household names in houses that are ‘yours.’
Business Networks: It never seems like we have the time to wake up extra early and go to those networking meetings, or take out time for lunch for a business luncheon. You honestly never know when you’re going to get a new lead, and business networks are some of the few places that you will most likely get a new lead every time you visit. Why prevent yourself from getting sales when they are right there? Meet people, meet leads, get referrals and give referrals. Business networks are always thriving forms of connectivity.
Open houses: Today, open houses aren’t just in person. That’s why you have to put extra effort into staying in contact with prospective clients that see your open houses in person and on line. Didn’t know you could have open houses online? You can create a video walk through of homes for sale and place it easily online. This makes it easier for you and for buyers to see what they want over and over again. However, that means that you have to make extra special effort to contact them via email and cards, and make sure that your follow-up system is seamless.
For Sale By Owners: We’ve heard of them, we’ve read about them, but now they’re more prevalent and necessary than ever. Are you doing everything you can to contact FSBO’s in your area? There are quick and easy ways to find FSBO’s and get them before everyone else jumps on the leads. At FSBORealEstateLeads.com you can find out how to get a hold of this “insider” information. Not only finding them early, but constantly contacting them without being overbearing is key. This means knowing their home more than they do, knowing facts, values, and when you’re going to sell it for them. Nail down the details before anyone else has gotten a chance to.
Rolodex: Ok, we don’t have rolodexes anymore…I’ve come to terms with that and I’m sure you have as well! Whatever contact management system you use, are you staying in contact with your contacts? This includes former acquaintances, social contacts, and many more leads that are sitting in your phone, on your computer, in Top Producer, etc. Get a hole of them and make sure you are “managing” your contacts continuously.
Look to these niches if you’re searching for creative lead generation methods. I’m sure you’ll find a couple of sales waiting to happen!
Real Estate, Business and Life Coach Cheri Alguire has partnered with hundreds of Real Estate Professionals and Small Business Owners to help them become more successful in business and in life. Coach Cheri specializes in Group Coaching for Small Business Owners, Working Mothers, Real Estate Agents and Managers. Learn more at www.RealEstateMoms.com and www.ProRealEstateCoach.com
Goal setting is easy for some of us, and for about 90% of the population out there, it’s the most difficult thing to do. In order to make sure that your life is in balance with your Real Estate Business, you need to make sure that your life goals are in line with your Real Estate goals. Having conflicting goals here will guarantee a rocky road for the next few years. How do you avoid this? Set goals that put your life and business in balance, and make sure that everything you do in both of these areas leads you closer toward these goals.
Even I have had trouble with goal setting. When a past coaching client of mine asked me to join Team Emily, www.Team-Emily.com, and run a half or full marathon for charity, I wanted to do it but doubted that I ever could. At that point in my life, running was something I did to the grocery store, to the dry cleaners and to the bank. I could only run (okay, lightly jog) for 20 minutes on the treadmill at the beginning of my work out, but for the most part I left running to my son Blake, the High School Senior and All State Cross Country Runner. I had never run for more than a mile at a time and that took me a good half hour to finish that.
I agreed to do it, half thinking she would forget in a year that I had even committed. It would be fun, I thought, and help me get into shape. I even started to get a little excited thinking, wow, wouldn’t it be cool to say “I ran a half-marathon!”
The first thing you have to do is set a goal to do something. No matter how crazy it may seem, no matter how far off in the future or even if you are not sure how you are going to do it, the first thing to do is to decide.
We don’t always know where life or Real Estate is going to take us; that’s why we try our hardest to create goals so that we can control where our life goes. One of the most rewarding things is setting a goal and achieving it. Do you remember when you were a child and you set a goal for yourself like running a mile, getting straight A’s, hiking to the top of that mountain? Do you remember how good it felt when you actually achieved it? Well, imagine living your life that way: constantly setting goals and constantly achieving these goals.
This is only possible if you consistently set fearless goals for yourself and your Real Estate Business. By constantly setting goals for yourself, and constantly taking action with proper business planning and management tools to achieve them, you will get one step closer to your life and business goals every day.
For added support in achieving your goals, check out Go Put Your Strengths to Work: 6 Powerful Steps to Achieve Outstanding Performance by Marcus Buckingham: How can you actually apply your strengths for maximum success in Real Estate? Research data show that most people do not come close to making full use of their assets at work -- in fact, only 17 percent of the workforce believe they use all of their strengths on the job. Go Put Your Strengths to Work aims to change that through a six-step, six-week experience that will reveal the hidden dimensions of your strengths. Buckingham shows you how to seize control of your assets and help you take control over Real Estate.
Real Estate, Business and Life Coach Cheri Alguire has partnered with hundreds of Real Estate Professionals and Small Business Owners to help them become more successful in business and in life. Coach Cheri specializes in Group Coaching for Small Business Owners, Working Mothers, Real Estate Agents and Managers. Learn more at www.RealEstateBusinessResources.com and www.GrowtoGreatness.com
My clients often wonder why I close every phone conversation and email with the phrase, “Make it a GREAT day.” Why not, “have a great day” or “have a good day?” That all reflects on the way I coach and the power I believe that everyone has over his or her own lives:
By saying, “have a great day,” you’re not really taking the day into action. You’re just sitting by and seeing what happens, or doesn’t happen during the day.
By saying, “have a good day,” you’re settling for “good.” Who wants just a “good” day? I definitely don’t. I don’t want my clients to settle for “good” either.
You can make your day, your family, your business, and much more “GREAT” if you work at it and follow the proper methods that lead to having a “GREAT” life.
So, what is the method to having “GREATNESS,” anyway? It’s very simple. Grow:
G - grow your talents and techniques with constant education. If you are constantly expanding your mind, there is no possible way that your business or life can become static. Many times we see businesses that once thrived close down with the dawn of new technology and market fluctuations. Don’t let your business fall into that category. All you need is to refresh your business strategies constantly in order to stay ahead of the game. I’ll help you stay on top by sending you tips and tricks on how to use technology to your advantage and how to make waves in your marketplace, not sink from them.
R - reaffirm your team members around you and thank them for supporting you. I can’t stress enough the importance of support in business. Whether you find support from a coach, a manager, an assistant, a friend, or a partner, thank them for it and understand that you need them just as much as they might need you. In many ways, I have seen businesses come and go because of one stubborn team member or leader who thinks that he or she can survive independently without any support. Rely on and trust the people around you so that you can concentrate on the big issues like growing your business and making more money!
O - open yourself to new opportunities, situations and outcomes. Face fear fearlessly. Let new changes and different situations affect your business for the better. If you stay ahead by being open to new partnerships and new methods of growing your business, your business is sure to stay afloat in the midst of change. By taking your business to new levels of bravery, you’ll reach goals you never imagined could happen.
W - will yourself to having the kind of life that you desire everyday. See yourself in the place that you want to be in 5 years, 10 years, 20 years, and 30 years. Make it happen. You have every power it takes to make your life the kind that you desire.
Real Estate, Business and Life Coach Cheri Alguire has partnered with hundreds of Real Estate Professionals and Small Business Owners to help them become more successful in business and in life. Coach Cheri specializes in Group Coaching for Small Business Owners, Working Mothers, Real Estate Agents and Managers. Learn more at www.NextLevelServices.net and www.RealEstateBusinessResources.com
older brothers and all kids in the entire world that have ever asked this question before always get the same answer…”Every day is ‘Kids Day’!”
ales and marketing like nothing has changed in our economy. Some traditions are hard to break.
Grow to Greatness - Grow to Greatness in Real Estate