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Rules and Routines

Improving your life through sheer willpower might work for some super-humans, but it’s a recipe for disaster for most of us.  You try to do something; you fail, you feel discouraged, you stop trying.

On the other hand, establishing a few simple ‘Rules and Routines’ can add order to your life, and make you feel far more in control and more productive.

You can introduce ‘Rules’ incrementally as a way towards accomplishing a much bigger goal.  For example, let’s set a rule towards a bigger goal of weight loss:

Weight Loss Rule #1 – No snacking after 7:00 p.m.

All you have to do is master that one rule for now.  That’s it.  And by the way, this is a good rule for everyone, whether you need to lose weight or not, because eating late at night interferes with your circadian rhythm.  If you eliminate eating after 7:00, you’ll improve your digestion, you’ll sleep better and you’ll wake up more...

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The Follow-Up

Note from Ted: This is a savagely pared-down portion of ‘The Follow-Up’ module from the upcoming Knowledge First Real Estate Master’s Program.  It’s REALLY hard for me to take something I’ve worked so hard at perfecting and then shrink it to 10% of the size, kind of like seeing only 10% of a painting!  Not that I think I’m an artist or anything, but I’m pretty darn proud of this thing.  Anyway, hopefully, you get a few tidbits out of this portion.

Over the last three Memos, we talked about Building Relationships, The FORD Method, and How to Talk Gooder.  Assuming you’ve now got a nice pile of hot and warm prospects, what’s next?

It’s ‘The Follow-Up’!

First, purge the negative self-talk that is preventing you from following through.

“I don’t want to bother people!”

“I don’t want to come across as too salesy!”

Stop it!   If you use the method I’m...

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How to Talk Gooder

Last week, we talked about how to initiate conversations with people using The FORD Method.

Once you’ve got a good conversation going, don’t be in a hurry to steer the topic to Real Estate.  That’s being a Salesy Slickster.

Do.  Not.  Be.  A.  Salesy.  Slickster.

Just let the conversation go where it may.  LISTEN, show interest, and enjoy the opportunity to meet a new and (hopefully) interesting person.  Maybe you’ll learn something!  Or, at the very least, maybe you’ll enjoy yourself!

Life isn’t ALL about Real Estate, you know.

If you’re enjoying the conversation, chances are the other person is, too.  You’re developing rapport! 

Remember the “O” in The FORD Method (occupation)?  If the conversation starts to lag a bit, you can always ask the other person, “What do you do?”.

Now, listen!  Show interest.  Ask follow-up questions.

Almost...

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The FORD Method

As a professional REALTOR®, you should always be ready to discuss Real Estate.  But, don’t be a boor.

“Hi there!  I’m Jack Smith with ABC Realty!  Are you folks in the market to buy or sell within the next 30-90 days?”

Ugh.  Get away from me, Jack.

Guess what?  The world is sick and tired of salesy slicksters. 

Instead, you should be working on establishing a reputation as a Trusted Real Estate Expert, and conducting yourself like a professional.

Have you ever met a family physician at a party, and all of a sudden, they’re handing over their card and inviting you to come in for a check-up?  You’re trying to get away from them, and now they’re following you around.  “You know, I really think I ought to take a look at that mole on your neck!” ‍

No?  This hasn’t happened to you?  Ya, that’s because physicians are professionals.

You should conduct yourself like...

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Building Relationships

Many REALTORS® believe that Real Estate is a transaction-based business.  Those are the poor ones.

Real Estate is a relationship-based business.

If you want more clients, you need to interact with more people, more often, and you need the right skills to develop trust and rapport with them.

The most successful REALTORS® project these four distinct attributes, all at once:

  • Professionalism
  • Confidence
  • Friendliness
  • Authenticity

What about you?  Ask a close friend or co-worker for their honest opinion, and if you are not clearly projecting all four of these qualities in your interactions, consider how you could improve.

I would say that most agents are weak in at least one of the four.  When you are honest with yourself, and you work to improve your core competencies, you’ll be surprised how quickly people become drawn to you.

Professionalism

In Real Estate, you’re a true professional if you continuously work towards improving your knowledge and...

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Being a Technical Dinosaur

marketing organization Oct 03, 2019

I’ve got some good news for all you technical dinosaurs:

Don’t worry about it! ‍

It’s just not very important to be up-to-speed on all the latest techie stuff, in order to be a great REALTOR®.  In fact, if you’re constantly re-inventing your business to accommodate the latest trend, it’s impossible to deliver a compelling and consistent message.

Real Estate is a relationship-based business, and you don’t need technical gadgets to build relationships.

I’m not saying you shouldn’t try your best to keep up with technical tools that can help run your business more efficiently.  You should.  Just don’t drive yourself crazy adding technology for the sake of adding technology.

Sometimes, a low-tech solution could work better for you than a high-tech one.  For example, I still keep an appointment book.  That’s right; an actual book, made out of paper, that you write on, with a pen.

I just like to...

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The Team Option for New Agents

You’ve got your shiny new Real Estate license, and you’re all signed up at a brokerage!

Now what?

The choices you make now will have a direct impact on your entire career, and there are a thousand choices that are equally compelling and confusing!

For example, should you join a team?

The word “team” has a positive connotation, doesn’t it?  It implies all kinds of good things – mentorship, structure, support, training, camaraderie, and everyone working towards the same common goal.

This sounds wonderful!

And it could be!  If you’re lucky enough to be joining a small team with a high-integrity leader—one who genuinely wants to mentor you—this could be a great way to launch your career.

However, before you make this critical decision, be very cautious about the Big-Box Team with the celebrity “mega agent” and their slick recruiting message.

The bigger the team, the slicker the message, and the further it is...

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My First Year

marketing self management Sep 19, 2019

I started my career the same way as most of you did, fresh out of Real Estate School with zero prospects and not having a clue what to do next. 

I wanted to learn more, so I explored all the coaching options that were available at the time.  But none of it seemed right for me, especially the idea of “prospecting” every day.  Yuck!

I’m just not the type of person who enjoys calling people out of the blue and reciting canned scripts, “If they say this, you say that!”

Honestly, if I had to be a telemarketer to make a living at Real Estate, I’d rather scrub toilets in a Mexican jail.

I’m not passing judgment.  We’re all different, and for some agents, “prospecting” is a highly-refined art, from which they derive both great success and personal satisfaction.  To each their own.

The other thing the coaches were espousing was spending gazillions on “marketing,” including nonsense like...

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The Intelligent Price Reduction Strategy

If you’re a typical Real Estate agent, you’ve probably got about $100,000 worth of uncashed commission checks in your desk drawer, or as some people refer to them—your collection of over-priced listings. 

It’s kind of like that stamp collection you had when you were a kid.  You still have the stamps; you just never look at them anymore.

The only difference is your stamp collection is probably NOT worth $100,000.

Here is the standard list of excuses used for NOT fixing your problem, and NOT being $100,000 richer. Pick your favorite!

  1. You’re too busy (chasing after new business, rather than taking care of the business you already have)
  2. Your clients are stubborn and won’t listen to you
  3. You’re bad with confrontation
  4. You’ve got a showing booked for Friday, and you’re hoping for a miracle!
  5. The market is awful, so there’s nothing you can do
  6. You feel dumb for recommending the price in the first place
  7. (Insert your...
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Before the Listing Presentation

This Memo is a continuation from last week when we discussed the C-L-M (Come-List-Me) call and the S-I-F (Seller-Information-Form), a guide to all the information you need for your listing appointment.

Here’s how to explain why you need their email addresses:

“I’m going to send you a link from our system showing ALL of the recent comparable sales so that you can view each one of them in detail before our appointment.” – This piques their interest.  They WANT this information!

“This will save time during the appointment.” – Everyone wants to save time!

“The reason I need both your email addresses is because different email servers have different levels of security for messages containing links, so I want to make sure that at least one of you receives the information.” – True and totally understandable!

Having both email addresses (for a typical situation with two decision-makers) also increases the odds that...

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