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Referrals – The Never-Ending Stream

“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?

It’s probably...

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True Integrity

The word “integrity” is grossly over-used in Real Estate, including by the worst Salesy Slicksters who have none.  When I say over-used, I’m talking “chef’s kitchen” or “gleaming hardwood!”

Here’s my definition  of what true “integrity” means in Real Estate:

  1. You are an “agent,” as opposed to a “salesperson.” You always act in your clients’ best interest, without regard to your own potential benefit.  Sometimes this means talking yourself out of a commission check.
  2. You perform your duties to the very best of your abilities at all times. Easy to say, not so easy to execute.  It means skipping lunch with a friend, so you have enough time to nail the correct price on your CMA.  It means telling your client the straight-up-truth, no matter how little they want to hear it.  You do the difficult stuff. 
  3. You recognize your weaknesses, and you constantly work...
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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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The "Pocket Listing" Myth

The MLS System is BY FAR the most important tool we have in Real Estate.  Can you even imagine imagine how we would function today without it?

The old codgers around the office have some stories, I tell ya!  I guess when you got a new listing, you’d be on the phone all day with all your REALTOR® buddies:

"Hey Vern, I got a beauty coming on in Old Town.  She’s got everything!  Orange wall-to-wall, pink plumbin’ fixtures, electric oven, the works!  Puttin’ ’er on for $24,900!  Hop in the Studebaker and come have a look-see!"

Not to make fun of the old codgers in the office, but holy cow!  What a grind!

Folks, we’ve got it made compared to the old days.  Don’t forget it.

Here’s my question:

With an incredibly powerful tool like the MLS at our disposal, why would anyone ever try to sell a property and NOT use it?

This is like trying to sell your car by standing on a street corner with a...

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You Were Right

If you’re a professional REALTOR®, you probably started your career full of enthusiasm, with high ideals that you were “going to make a difference” by providing outstanding service to your clients.  They were going to you and your business would flourish, as a result.

Then “reality” set in.  Some other REALTOR® broke the news to you, “That’s not how it works!  Here’s what you gotta do:

Call crappy Internet leads and FSBOs and Expireds all day, using scripts that were developed 50 years ago, “If they say THIS, you say THAT.

"Here’s your scripts; learn ‘em.  Here’s your prospect list; call ‘em.”

Doesn’t that sound dumb when you read it out loud?

If that’s not bad enough, now it’s all the rage to PAY for leads.

Hahahahaha!   PAY for leads?

Guess what?  Those leads are garbage, too.  You wanna PAY for garbage?

News Flash!  You...

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Being a Rapid Responder

There are a few key attributes that are clear indicators of your future or current success as a professional REALTOR®.

One of the TOP FIVE is being a rapid responder.

I once called a REALTOR® and got this voice mail, “This is Joe Sloe.  Please leave a message, and I’ll return your call within two business days.”

LOLOLOLOLOL!

I rolled my eyes and hung up, without leaving a message.  I’m sure that 95% of his potential clients did the same.

He might as well have said, “This is Joe Sloe.  I’m super important and I’ve got better things to do than return your phone call.  If I think it’s worth my while, perhaps I’ll call you back.” 

That phone message is terrible, but there’s something that is far worse:

Crickets.  The complete and total non-response.

And, I’m not talking about just phone calls.  The same applies to emails and text messages.

You might be saying to yourself,...

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Handling Objections with Cheesy Scripts

I hate “slicksters” and so does the public. 

If you want to be regarded as a trusted advisor, you can forget all about memorizing stupid scripts to overcome objections. 

Whenever a salesperson uses a script on me, I’m completely turned off and I resolve to never buy from that person.  What about you?

It’s no wonder that so many Real Estate agents are regarded as being deceitful, dishonest, and untrustworthy. 

You’re not a sleazy telemarketer.  Are you?

You decide.

I’m not saying you should just roll over, every time you get an objection.  Just handle it with an honest and sincere response.  And realize that sometimes people have legitimate objections that don’t require a “come-back”.

If you learn to present to potential clients in a way that shows them How Real Estate Really Works, you’ll not only eliminate almost all objections, but you will completely differentiate yourself from the...

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The Big Box Team

There are many different business models in Real Estate.  Here is my analysis of a typical Big Box Team, of which there are numerous in every major market:

  1. There is one team leader and any number of “junior agents”. I use the word, “junior” loosely, understanding that not all team members are necessarily young and inexperienced.  But let’s be real; most of them are.  It’s a common path for brand new agents to join a big team, anticipating that they’ll be mentored by a seemingly successful “mega agent”.
  2. The team leader’s primary focus is to LIST as many properties as possible. The more “inventory”, they have, the better! 
  3. The listings are used to generate leads, which are doled out to the “junior” agents. Their primary responsibility is to chase those leads down and convert them to buyer clients;
  4. No inventory = no leads = no junior agents = no extra commission checks for the team...
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* Numerous Ridiculous Conditions Apply

The Real Estate industry is ubiquitous with misinformation around marketing.

The worst offenders—in my opinion—are the Big-Box Teams. You know who I’m talking about; there are numerous teams using this business model in every major market.

Some of these teams actually advertise how much money they spend every month on marketing! Thousands… tens of thousands… hundreds of thousands…

But, let’s get real for a minute and take a hard look at what their marketing is all about:

It’s themselves!

Don’t get me wrong. There’s nothing wrong with advertising your services.  Just don’t imply that the money you’re spending is for the benefit of the seller.

There’s no other industry on the planet that boasts about how much they spend on marketing, and then tries to imply that they’re doing it for you.

"You should buy a Ford, because we spend millions on marketing!"

Doesn't that sound stupid?

...

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