Archive for September, 2009

Integrity = Morality + Character

PictureI had an interesting meeting with an agent recently – one that has been a reoccurring theme over the last 18 months with agents across the nation.  We started the meeting under the auspice of setting goals, markers and expectations for the next 90 days.  We ended with tears, hugs and a new lease on life.

After 20+ years in the business, a full pipeline and momentum shifting in her favor the dark cloud that has been hanging over her business was starting to clear.  Despite the rays of sunshine a haunting depression and frustration was finding its way in each morning.   Bitterness was building and the excitement of real estate was waning.  She struggled with tears as she admitted to a growing distain for both houses and people.  She was faced with burn-out and wasn’t sure how she got here or even if she wanted to continue in this crazy business.

We talked at length about finding purpose, and the importance of having the significant as fuel for our success.  We talked about the realities and destructive road that lies at the end of a life that is being lived out of integrity.    We can only fake it for so long, and while I am a believer in positive thinking, there are times in which we need a radical adjustment to our perspective.

QuoteI have discovered that integrity can be defined as morality (not doing wrong) plus character (doing what is right).  You cannot do what is right when you are doing what is wrong.  When we start to make choices from the place of what I need to do versus what I want to do, our lives (and businesses) take a very dangerous turn.  She is moral and good, but neglecting doing the right things because of demanding clients and lack of good boundaries.

She is working on finding herself by exploring some places she can give back.  We will re-visit whether she wants to leave her real estate business or not in a few months, until then, she is going find something that she can throw her heart in, because it is the right thing to do and it is the quickest way to avoid burn-out.  Investing in the significant and being in integrity is the quickest way to give a shot of vitality and life to a business that is stagnant and struggling.

When struggling, down or feeling a bit defeated, recognize that our fulfillment must come from something outside of the real estate business – our lives and business depend on it.

 

Carpe diem,

Chris

I have a saying that is permanently written on one of the white boards in my office.  As the projects come and go, the one saying stays as an overarching reminder. 

“What have you done to change the world today?”

PictureI remember I had a professor in college that would ask that simple question of the students as he roamed the campus. I’m not sure how many students over the years were impacted by it.  But the first day I ran into him and he launched his signature question, He changed me – forever.  That question lives with me, no, it haunts me.

So every day, I attempt to answer the question that stares at me.  How have I changed the world today?  Most days it in small ways, some days I hit a home run.  But every day I attempt to leave my mark on the world around me by sowing into the lives God has chosen to place in my life. 

In real estate, we have an incredible honor to deeply touch those we work with.  We see people in the depths of despair, stress and worry.  We see them in the heights of elation as long held dreams are realized.  The one common thing in both circumstances is that we have an opportunity to leave our mark, good or bad, forever.  Be purposed in what you do and why you do it – you leave a legacy whether you realize it or not.

 

Carpe diem,

Chris

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Carpe diem,

Chris

 

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Are you beginning to wonder, “Will this change thing ever slow down?”

Hard to say. But, in the meantime, you might as well go with the flow and lighten yourself up so you aren’t left, gripping the rocks on the bank, because humans are catching up emotionally with the breakthroughs we’ve created with our intellects, like the car, the computer, medicine, and finance.

PictureWe’re recognizing that what human beings have historically spent much of their time doing-gathering food and establishing defensive measures for the community-is now a minor part of our lives. We’re recognizing that we can break the rules, make our own life decisions, learn the new skills we need, and have it all, and on our own terms.

We are becoming responsible for our selves. It is this process which is causing all of this change. But, like all change, it’s a bit messy, very unpredictable, and the learning curve can be steep. It’s like intellectual anarchy. And it’s healthy, because anarchy is not necessarily bad. The Internet is a good example of the positive results of anarchy.

Providers and users offer a virtually free exchange based on simple protocols. The result is complete availability of information and automatic connections with people who matter to you.

Now take a look at the changing role of the supervisor. No longer is the supervisor a pseudo-parent ready with the consequences. No. Instead, today’s enlightened supervisor is the staff person’s coach, placed as a resource to be utilized by the more responsible employee who no longer needs to be watched every step of the way. This is but a small example of the trend towards self-responsibility.

 

Carpe diem,

Chris

 

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Press on

“Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education alone will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan ‘press on’ has solved and always will solve the problems of the human race.”

-John Calvin Coolidge

I had an interesting experience recently.  As I was checking out at my local grocery store I was greeted by the store’s newest employee.  As I stood in line, I kept thinking about how familiar her face looked, her mannerisms, her expressions, even her voice.  When my turn came to ring up and I looked at her nametag it all came rushing back…

When I first entered this crazy real estate business (in the mid 90’s) the market was very similar to how it is now.  Bright eyed and bushy tailed I had just passed my exam, went through my obligatory, Broker sponsored, two week “Everything you need to know to be successful in real estate” class and was settling in my new desk when a head popped over my cubby pony wall.

PictureLittle did I know that I was just about to meet my friendly, professional rival, no, my nemesis.   She quickly informed me that I could not market all these different areas that I was looking at on a map because “they were her areas.”   Never mind that I lived in the area, and I had never seen anything from her, nor had she taken a listing there in the last 30 listings, nor that the manager had assured me that we were in an “open farming office.”  So it started.  It was actually one of the best things for me and my new real estate business.  I have always been the kind who is up for a fight.  And fight we did as we took it out to the market place.  We both did well, although I, like the father in the movie “A River Runs Through It” who out-fished his sons, simply was a bit more blessed in the ongoing struggle for dominance on the sales board. 

As often happens in life, our lives diverged as my life took a turn into the Broker side of the desk in another market area, and hers went along “greeting” the new agents and selling homes and condos to her friends and family. 

I hadn’t seen her in at least 10 years.  And here she was, checking my groceries at the local market.   Smiling – but not really.  Her husband was well, her kids fine (her daughter a bit disappointed, because she wasn’t going to be able to go to the college she wanted because “mommy didn’t sell houses this last year.”  She resolved that she was going to be back in the game soon, but I know differently.   I know the down markets separate those of us who have chosen this field as our profession, from those who are in it for the fair weather.  I’m not criticizing those that have to get some side work to put food on the table, but do it in a way that doesn’t cannibalize your business.  I’m all for the stormy periods, because I know at the end of the journey, I’ll be left with a bunch of Pros. 

As my wife, kids and I climbed in the car we talked about how our decisions make all the difference.   We talked about the importance of delayed gratification, we talked about the importance of pressing on when times are tough and we talked about the truth in Coolidge’s quote. 

To all of you who are hanging tough, not because it is easy, but because you don’t have any other choice – I applaud you, I respect you, and I am with you. 

 

Carpe diem,

Chris

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Carpe diem,

Chris

 

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You Don’t Sell Houses

1

You don’t sell houses. Let me say it again, you don’t sell houses; especially if you want a successful marketing campaign. Yes, you may have made over $500,000 in GCI this last year, even closed 38 transactions, but you don’t sell houses.

You sell your USP or Unique Selling Proposition. There are hundreds of thousands of agents in world today. If all you do is sell houses, then there are at least a few others that are willing to do the same thing. They may even deliver it with the same level of service and for a lower commission. What makes you better than any other? Why should a client hire you and pay you the commission that you are asking?

As an industry, we have been caught without enough distinction from one another which is why we face an ongoing war with “Commission Compression” – and before you get cocky on me and say “I’m not struggling with commissions” wait until the market swings back. If you thought it was bad before…

Here’s an example of my point - If I were to buy a new BMW 7i and one dealer had one the car for $80,000 and another dealer could get the exact same car for $72,000 which would I choose? All things being equal, price will become my determining factor. But let’s say that I just wanted to buy a car that allows me to get to and from work in a safe comfortable manner. What makes me consider an $80,000 BMW versus an $18,000 Kia? Price no longer becomes the only factor. BMW knows they aren’t selling a car or mere transportation; they are selling “The Ultimate Driving Machine.”

In fact, they’ve done quite well getting buyers to buy to satisfy the buyer’s own ego needs. And more interestingly, how2 many BMW owners would cop to ego being their primary reason for buying the car? With that said – let’s not beat up on the BMW crowd too bad, the same could be said about Lexus, Mercedes and others and they don’t have the distinction of being the “Ultimate Driving Machine.”

What is your USP? Is it that you return phone calls (which is become rare these days), or do you specialize in cash-flow oriented investors, or are you pet-friendly?

What are your strengths? What can and do you do better than anyone else? What are your values and if the truth be known, does your ideal client even know? What do you care about and hold most dear?

Market around those things and you will find yourself in the rare air of those agents who make the rules about how the real estate game is played and who hold the top %1 who dominate the marketplace.

Carpe diem,

Chris

Marketing Tools for Realtors

Are you ready for business?  When you’re ready to build your business, you’ll need the right tools in your toolbox to build a strong foundation, and to make the job go smoothly.  There are literally hundreds (if not thousands!) of marketing tools available to the Small Office/Home Office (SOHO) REALTOR® entrepreneur, but fortunately, there are some that are nearly universal in their usefulness.  While not every one of these tools might be the most efficient for you right now, they make a great default list until you develop a list of tactical tools tailored to your unique talents and personality.

men smiling1. A ‘Sound Bite’. This is a seven- to nine-word phrase that distills the essence of your value to a specific client base. When used with your name, company name, and your title, you’ve got a great introduction. Used by itself, it succinctly and clearly answers the question: What do you do?

2. A business card. Your business card shows that you are serious about your business. At the very least, it includes your name, title, company name, email address, phone number, and mailing address. If you don’t include one or some of these, you are showing the world that you are either unprofessional or not to be trusted. If you’re worried about stalkers, get a Post Office box and a generic email address, but don’t make your phone number the only contact point. It makes you looks like a drug dealer or a prostitute.

3. A web site. No matter what you’re selling, be it your time, expertise, or your apple pie recipe, a web site demonstrates your understanding of your core market, and enhances your credibility, as well as providing a 24/7 selling tool.

4. A picture. To be more specific, YOUR UP TO DATE picture. People like to put a face to the name or voice on the phone. Your picture (with your smiling face) helps develop the relationship with your client with absolutely no effort on your part. You can put this picture on your business card, web site, brochure, or just have it in your press kit to accompany any speaking engagements you book.

To be clear, this ‘picture’ thing has been an issue with me for years.  I’ve heard the argument that ‘my attorney and CPA don’t put their picture on their business cards, why should I’?  Sorry, WE are in the people business.  Today, with My Space®, Face Book® and all the other internet sites, people connect with people using pictures now more than ever.  Unless you are marketing to CPA’s or Lawyers only, use the picture.

5. Talk about your fees upfront and/or menu of services. You don’t want to make your clients guess what type of services you offer, or how much they cost, unless you’re one of those people who believe that if your client has to ask the price, she can’t afford you. Even if every sale is completely customized, at least having a baseline established will give your clients (and you) a place to start talking about prices. Remember, a sign that they’re ready to buy is asking the price. If that’s the first question you’re asked, the good news is that you’ve got a live prospect. But if you can’t provide a good answer, you’ve just lost the sale.

note6. Contact (note) cards. Use contact cards to follow up a first meeting, thank for a sale, congratulate on a milestone, or just stay in touch. Remember, people do business with people they know, like and trust, and what better way to build a relationship than with charming hand-written notes?

7. An annotated signature line. Your email messages are one of your best marketing opportunities. Be sure that you always include your contact information, and while you’re at it, add something else of value, such as info about your specials, upcoming programs, or a link to your web site. This is especially important when your message gets forwarded to someone who is excited about what you do, and may want to get in touch with you. Make it easy for your prospects to find you.

8. Letter templates. Are there people you need to communicate with on a regular basis? Perhaps welcoming new clients, or communicating with vendors? Save yourself some time by creating letter templates for your most frequently occurring communication situations. You’ll save time, and never have to rack your brain wondering if you included all the necessary information.

9. Scripts. Is there anything worse than making a call, and not being prepared when you get voice mail? Know what you want to accomplish before you pick up the phone, and decide how you want to say it. Being prepared for either a live interaction or leaving a message will reduce your nervousness, and make you sound relaxed and professional.

10. Client testimonials. One of the most persuasive tools you can have is a written testimonial from a satisfied client. It makes your prospect feel more comfortable about buying from you, because someone else has done so and is apparently happy about it. Not that people are sheep, but a personal recommendation from a client is far most compelling than your own good opinion of your product or service.

 

Carpe diem,

Chris

Sell Skills vs Service

PictureSell the skills you have, not your service.  I see so many agents convey the great services they offer; only they fail to recognize most agents offer the same service.  Rather than sell your services, try selling “your skills.”  In an industry where being unique is very difficult, sometimes expensive and seldom achieved, I think selling your skills may be much easier.

Think about it.  What skills do you possess that “benefit” the customer/client?  Is it that your listings sell 25%  faster than the market average, your experience is more than the market average or the education you have achieved earning real estate designations? 

Perhaps it’s something as simple as you provide more information (Internet Marketing Strategy) to the seller than the average agent does.  Whatever your skills are, that’s what you emphasize and quit trying to demonstrate to consumers your “services” are superior.

 

Carpe diem,

Chris

Thoughts Worth Pondering

 

PictureKnow how you measure success-
Start living your life by design.

Abandon perfectionism-
Replace perfectionism with pride.

Accept, then perfect, what isn’t perfect-
Acceptance is the first step toward perfection.

Enjoy an absence of personal problems-
Life’s too short for problems of any kind-become a problem-free zone.

Automate the business of your life-
Don’t you have better things to do?

Upgrade your personal and professional network-
People bring you the best opportunities in life.

Seriously invest in a special skill set-
The more you can deliver, the more you can earn.

Have whims worth following-
Perfection occurs as you respond to what tugs at you.

Perfect your self-care-
A perfect life isn’t sustainable without advanced self-care.

Lighten your footprint-
Need less-be more.

Evolve your sources of energy-
Design advanced sources of motivation.

Raise your standards-reduce your expectations-
This raises you above the muck of life into the realm of the perfect.

 

Carpe diem,

Chris

 

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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