The idea of surrounding yourself with good people has been around forever. One of the earliest known quotes was from Thag, the caveman.
“Thag hunt mammoth with rock-head Grog; mammoth eat Thag for lunch.”
Thag’s quote was later stolen and modernized by the likes of Tony Robbins and Oprah.
Surrounding yourself with the best people seems obvious, but sometimes we get complacent and start accepting that things are “good enough.”
For example, in Marketing the Images, I mentioned that no matter how great your current photographer is, you need to always be on the lookout for one that is even better. The same goes for every service provider you have. Why? Because:
Your BRAND is only as strong as your weakest team member.
“Good” is not nearly good enough. You must strive to be the best.
You want a business with a never-ending stream of referrals, my friend? Remember this:
Every team member and every service-provider you recommend is a direct...
You get 1,440 minutes EVERY day, folks.
What will you do with yours?
Let’s knock off half your minutes (720) for sleeping, eating, grooming, and spending quality time with your family.
Watcha gonna do with the other 720 minutes?
If you waste just 5 minutes an hour for 12 hours, that’s one full HOUR of lost productivity every day. But only super-humans waste only one hour per day!
Here are a few of the most obvious time-wasters:
Maybe you don’t do any of those things. But here are some other insidious time-bandits:
Starting with ONE client
You start the year in January with one client. You make a deep and lasting impression on that client, and as a result, they happily refer you to two of their friends.
Now it’s February, and you’ve got two clients. Again, you do an amazing job, and each of your two clients is thoroughly impressed. They each refer you to two of their friends.
Now it’s March, and you’ve got four clients. If you keep this pace up, how many clients have you accumulated by the end of the year?
You don’t believe me? Here’s the math: 1+2+4+8+16+32+64+128+256+512+1,024+2,048=4,095
Impossible? Yes! But only because once you have an overwhelming number of clients (around June), it becomes unfeasible to perform at an extraordinary level, and therefore you don’t get as many referrals.
Until you reach that point, it’s NOT impossible, and it’s NOT unreasonable to expect to...
NOBODY likes a Salesy Slickster!
But is it possible that your prospects are falsely perceiving you as one?
This answer is YES. No matter how much of a genuine person you are, your innocent attempts at helpfulness may be inadvertently sending the wrong message to potential clients, and costing you tens of thousands in missed opportunities.
On the other hand, if you don’t even TRY to strike up conversations about Real Estate, you should find a different occupation.
Becoming a Trusted and Authentic Advisor is a BIG and important subject that interweaves throughout every module in the Real Estate Master’s Program. For now, and in the interest of brevity, let’s look at a single example of how to improve your interactions.
Converting Open House Prospects to Clients
First, understand the apprehension of your prospects BEFORE they walk in the house. They’ve already been “attacked” by a few Salesy Slicksters at other Open Houses,...
Let’s pick up where we left off last week. You’ve captured the attention of that elusive buyer—the one with the short attention span—with your incredible images produced by your celebrity photographer.
You had to do that first because NOBODY is going to read your words if they aren’t first attracted to the images. Great photography is step #1 in the multi-stage process of selling your listing.
Step #2 is enticing the potential buyer to view the property in person, with your words. Now, let’s be clear about a very important point before we go any further.
The purpose of the MLS description is to generate as many quality showings as possible—NOT to sell the property.
You don’t propose marriage on the first date, and contrary to popular opinion—you’re NOT supposed to SELL the home with your...
“I use a professional photographer on every listing!”
Big deal! So does every other competent and half-competent REALTOR® in your market. Also, most of the incompetent ones.
So, what can you do to separate yourself from the crowd? First, let’s take a step back and ask a key question:
How important is photography, anyway?
Last week, we discussed Marketing on the MLS and how—from your sellers’ perspective—the MLS Presentation is BY FAR the most important part of all your marketing efforts. After all, it’s the source of information for 99% of your potential buyers!
So, what’s the most important component in your MLS Presentation?
It’s the images!
Think about it from the perspective of potential buyers looking at your listing. They’re scanning through hundreds of available properties. What’s the first thing they focus on? The images!
If they don’t like the...
“Anyone can post your listing on the MLS!”
Also, anyone can cut their own hair. The point is obvious. There’s a massive difference between an amateur and a professional MLS Presentation.
Let’s take a step back and ask a fundamental question:
How important is the MLS presentation?
Answer: It’s the source of information for 99% of your potential buyers, and therefore—from your sellers’ perspective—it is BY FAR the most important piece in ALL your marketing efforts. Nothing else even comes close!
What’s your main job as a listing agent? It’s to generate as many quality showings as possible. The more showings, the more likely you’ll find the right buyer.
The most important way to generate showings is to have a powerful and compelling presentation on the MLS System.
But very few REALTORS® even mention this vital information during their Listing Presentation!
Why? Because they...
The title of this blog post is a registered trademark owned by me, which means you CANNOT legally use it (or any similar phrase) in your advertising.
I registered this trademark many years ago because it perfectly describes a fundamental difference in values from one agent to the next.
Do you care more about yourself, and how many commission checks you can accumulate?
Or do you care more about delivering the best possible result for each client?
If you care more about yourself, it’s better if your listings don’t sell too quickly, right? After all, “inventory” is useful! Sometimes a single listing can be used to generate multiple commission checks as a “lead-generator.” We know this. The public does not.
This is why it can be tempting to accept over-priced listings. The chances are high that you’ll generate at least one other commission check as a result of the listing, even if it doesn’t...
Our industry is ubiquitous with misinformation around marketing.
The absolute worst form of misleading advertising—in my opinion—are some of the “Guaranteed Sale” programs , offered by various brokerages across North America.
In every “Guaranteed Sale” contract I’ve ever seen, only the most easily saleable homes “qualify” in the first place.
Even if your home does qualify and you agree to the “numerous ridiculous conditions,” the bottom-line guaranteed price (after all deductions) will be so stupidly low , that hardly anyone in their right mind would ever agree to the terms.
Almost everyone reading this already knows that these programs are essentially “bait and switch” schemes. The main purpose is to get in front of potential sellers, and then convince them that they don’t need the program, anyway.
“Oh, sorry, your home doesn’t qualify due to the lengthy list of...
“Word of mouth” is by far the most effective type of advertising there is, and it’s FREE.
But, WHY exactly do people refer to you?
People recommend you because it makes THEM look good.
When your client recommends you, it means they have 100% confidence that you will provide the exact same level of exemplary service to their friends and family, that you provided to them.
When people have this level of confidence in you, they will go out of their way—without being asked—to recommend you.
On the other hand, if there was anything about their experience working with you that wasn’t perfect, they might be unwilling to take the risk that you might make them look bad.
Have you ever thought you did a great job, asked your clients for referrals, thought for sure they were going to come through, and it just never happened?
Maybe they told you they were 100% satisfied and thought you did a great job. So, why no referrals?
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