“Learn to say ‘No’ to the good so you can say ‘Yes’ to the best”

We are faced with an unending and on-going influx of decisions.  We make thousands of them every day.  They arrange from the small to the much, much, more life-defining.  Most agents, who live each day in a people pleasing business, tend to say “yes” far too much.  They over-commit to others and as a result, sacrifice the things they most value.  Our families, friends and even our individual self tend to be put on the back-burner while we indulge the urgent before the important.  Yes, it’s important to work hard through the end of the year.  It’s important to finish well, to have good momentum going in to the New Year, to pay off the credit card bills that tend to mount in the Christmas Season.  But it’s essential to learn how to say “no” to the urgent so that you can say “yes” those that mean the most to you during this holiday season.

Carpe diem,

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Tired of marketing like a maniac but not getting any clients?  Beef up your referral systems, and soon you’ll have all the clients you want.

Here are ten secrets of building a referral machine that builds your real estate business:

1. Network, network, network.  And when I say network, I don’t mean join groups and never go, or go but skulk around the sidelines, I mean network actively.  Talk to people about their businesses, and your business.  Mingle with people you’ve only met once so that you get to know them better.  Introduce yourself to everyone you don’t know, and learn how you can refer to them, then tell them how they can refer to you.

2. Build a Group 100.  A Group 100 is a network of 100 people with whom you have a reciprocal referral agreement.  You feel comfortable referring others to them because you have personally sat down with these folks, and learned enough about their businesses to understand who will really benefit from their products or services.  In the process of learning about them, they will learn about you, and so you have just expanded your network to the 300 people each of your Group 100 folks knows!

3. Refer to other people.  Referrals are almost like yawns in that they spawn more of the same.  I receive reciprocal referrals more often when I am referring to others, so I make it my business to refer as often as possible.  Make sure that they are quality leads you are giving.  You don’t want to waste time with bad leads, and neither do your partners.

4. Ask for referrals.  Ask your clients, ask your prospects, and ask your colleagues.  But ask correctly.  Don’t ask if they know anyone who needs your services, because they might not know off the top of their heads.  Sure, they know a lot of people, but may not think of the right person to refer to you unless you ask in the right way.  The right way is to ask a clarifying question such as, “You’re active in your neighborhood association, aren’t you?”  A positive response sets up your request for referrals: “Do you know anyone in your neighborhood who is also thinking about selling or buying a home?”  That focuses the attention on a specific group, rather than on all acquaintances, which is more likely to result in an actual referral.

5. Give it away.  Not your services, of course, but something valuable to people who are thinking about buying the services or products you have for sale.  For example, you might have a free report or checklist on choosing the right professional for the job that you do.  Once it becomes known (through your web site, press releases, and word of mouth) that you offer a great tool for figuring out how to buy what you’re selling, you can become the go-to person for real estate related services in your community.

6. Become visible.  If you’re not on the internet, you’re invisible.  But just one little web site isn’t going to cut it these days; you need higher visibility.  Get listed on your networking organizations’ web sites, send out press releases, participate in community projects, and assume leadership positions in one or more of your social, business, or philanthropic groups.

7. Establish a stellar reputation. If you know that you’re good, but not sure your clients are raving about you, ask them for written testimonials (but don’t you dare write them yourself!).  They will write much nicer things about you than you would ever write yourself, and the process reminds them of how good you are, so they are more likely to refer to you.

8. Create a rewards program for referrals.  Set up a system that gathers information about how your clients heard about you, and reward those who refer to you.  It can be as complicated or as simple as you like, but remember: if you promote it, you must honor it. 

9. Develop strategic alliances with non-competing businesses.  Find out who works with your clients before they need your services, and set up a system that funnels their clients your way.

10. Reward referrals, not sales.  It is your responsibility to close the sale, so always measure the success of your referral program by the number of referrals you get, not sales.

Carpe diem,

Need help with Event Planning?

Personal events are a huge boost to any business, whether it be an annual Christmas party, fall investment seminar or SOI gathering.  Here is the step-by-step plan to make sure your event is a hit. 

To download the tool click here

Carpe diem,

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I am asked from time to time why some do so well in this business and some, well, don’t. There are more than a handful of “secrets” but there are very few that are more important that mastering your relatioanl skills. In fact, there is nothing in this world that pays better, in every realm of life, than relational skill mastery. Here’s a few things to keep in mind as you go through your day.

• Don’t just listen to or understand people: Really hear them.
• Love and support everyone, but require their best.
• Speak in messages, not clichés, opinions, or possibilities.
• Communicate fully in the moment.
• See faults in people, but accept them.
• Be unconditionally constructive.
• Fully handle tasks.
• Don’t seek credit.
• Want the best for people, but don’t be tied to it.
• Show people you care.
• Be others focused.
• Be interested in the conversation at hand.
• Appreciate others.
• Watch your association.
• Be interdevelopmental with people: Not codependent, dependent, or merely interdependent.
• Be grateful to and for others, and they feel it.
• Cause things to happen, don’t wait for them to happen.
• Always add value.
• Give the gifts that the other person really wants.

Carpe diem,

One company I am working with has an agent average of $7.6 million in sales with an average commission of 2.3%. That’s $54,822 short of a full 3% per side.

Make a goal to get back $20,000 of that next year. That means your commission will increase from 2.3% to 2.55%. Not an insurmountable goal.

Develop a script – that fits your own personality and way of speaking around the following points:

Here’s how:

1. Assume that ALL sellers will asked for a reduced commission. They feel stupid if they don’t ask. But if they don’t ask…don’t bring it up!

1. When they ask (not before) tell them your reputation is not in just getting houses sold – you get them CLOSED. And they way you do that with all your clients is to ask them “not to tie your hands up front.”

1. The reason is that EVERY closing ALWAYS has a Last Minute Money Problem. This problem -sometimes last minute required repairs, an unanticipated increase in closing costs, a buyer a little short on closing funds – BUT whatever the dollar problem – it ALWAYS causes the seller last minute anxiety, less money than they thought they were getting and it almost always causes a delay in closes which has it’s own problems that people hate.

1. That’s where you “come to the table”.  You look the seller in the eye -firmly and say- That’s where I come in – and I can solve it in minutes by solving the problem out of my own pocket.  I do it as a practice and as a cost of business…and I guarantee I’ll be there when you need me most.”

1. Most importantly- When the time comes to close – Make sure you do. Buy that water heater, or broken this or that. Keep in mind that by not cutting a ONE PERCENT off the commission you saved about $5,000 or more. So find a way to kick in up to $1,000 at the end. They will forget the 1% immediately if you give it up front -but they will remember you very fondly if you buy a $750 water heater at the end. You can bet on that and you just saved $4,250!

Carpe diem,

You can also click on one of the following links to have the mastery coaching blog with helpful life and business tidbits geared to real estate’s elite delivered to your computer,

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Move from just customer service to the notion of creating community. People are hungering to feel connected and when you offer this type of thing, customer will respond.

Here are two key points to remember:

1. Profitability is usually conditional on current customer loyalty and new customers. The way to increase loyalty and attraction are:
   • Continually add value without being asked to and at a similar price. This builds a reputation.
   • Create a community of people and help them “get to know” each other.
   • Be known for something…a philosophy, feat, and result, compelling vision.
   • Be known as someone. Have a personality, a personal style, personal qualities, and abilities to listen.
2. People prefer to buy from an individual or firm that they know and feel a part of. Create this with your company. It’s more than just customer service.

Carpe diem,

We’re all human so we need incentives to keep us focused, productive and inspired. Don’t assume that your staff is as self-generative as you are. They never will be, that’s why you’re the boss. They need incentives to be consistently and highly productive.

Give your staff a reason to win for you. Incentives might include:

• Money…bonus, raise, rewards perks benefits.
• Stature…a promotion, responsibility, visibility, reputation.
• Strength: Skills inside track, higher-end relationships.
• Power…Resources, authority access, a career track, freedom to create, and a chance to win.
• Money is rarely the #1 motivation.
• Ask your staff what motivates them.
• It helps to have a big vision in place before offering incentives – the vision provides the context.
• Turn your firm into one that sells a cause, not just a service.

Carpe diem,

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I had two really good agents enter into an extended slump.  Not all that uncommon over the last couple of years.  After talking to them at some length I discovered they were spending way to much time in their cushy home offices.  So I took them away – not literally of course, but figuratively.  I told them that they had to close the door and they weren’t allowed in for 30 days.  Instead I asked them to go to Starbucks with their laptops and do their work from there. 

Within 2 weeks both of them were back on the side of positive momentum with fresh leads and activity from folks they had run into at Starbucks. Within 4 they were back in the saddle, flush with new transactions and able to re-enter their home office with a renewed focus and perspective.

The biggest thing when you find yourself in a slump is to go to the people.  We tend to hide and bury ourselves with busywork to feel busy instead of focusing on productivity.

Carpe diem,

Buff = Perfection + Personal StyleThe Buff It Up! program is a self-paced personal development program for the individual who wants—and is ready—to have it all and have it all right now.

To download the tool click here

Carpe diem,

You can also click on one of the following links to have the mastery coaching blog with helpful life and business tidbits geared to real estate’s elite delivered to your computer,

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People often ask me “what are the secrets to success in the real estate game?”  While the answer can be very long if we get into the details, there is a simple and short answer that applies to the cross section of the American entrepreneurial business landscape.  All of the secrets that we can control can be boiled down into one simple triad. 

The first is to develop a great attitude.  Not one that is born out of PMA (Positive Mental Attitude) delusion, but an attitude that is born out of true and real gratitude.  Remember, things can always be worse and although we cannot always dictate what happens in our life, we can control our response to it.  Without a perspective that can see opportunity within challenges and remain humble in our successes we will miss 90% of what life has to offer.

The second is to develop a vision that is bigger than you are.  Success follows leadership and a leader needs a vision or dream to inspire others to follow.  The “others” may be your team, your clients or your family.   You will need to be able to draw your strength from somewhere during the darker days.  Your vision or dream has to be big enough to drive you to do the most difficult of tasks – discipline yourself.

The third is to develop a tremendous work effort.  The greatest laid plans are worthless if not executed on.  Great ideas without implementation are the fodder of those who die with regret.  Work hard, work well, work smart and even an average skill set will make it.  Combine a great work ethic with your natural strengths and you will be unstoppable.

Carpe diem,