I want to start the morning talking about what you want to talk about. It is easy for me to stand up hear and talk about what I want to talk about. Today, I am committed to getting a better understanding of where you are and what you want to know.
This is the perfect time and situation to use me for information.
Before we get started though, I want to mention a few things…
- I am here for you. This is your day and I want you to get what you need today.
- My intention is for you to leave here informed, excited about your future, clarity on what you should be doing and committed to taking a stance for your own success.
- I intend to educate you on how to increase your production which increases the production of the company which raises public awareness of our company which then attracts more to our company which then give you more. This is truly a cycle that we control.
- I am clear that your failure is my responsibility and your success is your responsibility. I am committed to keep you from failing yet you have to be committed to your succeeding.
- I will ask you some questions today and those questions may be direct depending on the feedback that I get at that moment. Do I have your permission to be direct as long as I am doing it with good intentions?
Also, I want you to know that I am proud to own a company that consists of all of you. It is hard to explain to others what type of company we really have. I want you to know that there are people all over the country that have heard about the team we have here today. I know it may sound odd to you and it may be hard to believe yet people from all around the country look up to all of you. You are leaders in this industry even if it doesn’t feel like it.
I understand that I drive this company very hard…For some of you, I drive you harder than others and I could explain my methods if I needed to. My job as the coach of this team is to understand you, to challenge you, to take risks with you as well as serve you.
I take each of these things very serious and I will practically do anything to help you succeed.
I ask that you participate today by asking questions. Don’t let me move on unless you are clear on my thoughts. If I only get half way through my script because you ask a lot of questions than that would be perfect and I would declare today as a success. I know we see each other every day yet today you have my complete attention and focus.
Where should we start…What questions do you have?
Spend 30 minutes addressing questions
What are my goals for the company?
1. I want the average agent production to remain above 40 deals per agents.
2. I want to grow the company to about 50 total agents and expand into Charleston, SC.
3. I want our total newsletter databases hitting 100,000 people per year.
4. I want 2000 transactions in this market which will absolutely devastate the competition. That means that nearly 1 in every 4 transactions that exist in the market will go through this office.
5. I want to coach and guide each of you to reach the goals you have for both inside and outside of business. Of course, you have to have goals in order for me to accomplish this goal.
There has never been a time in real estate where mental toughness has been so important. Think about it, there are so many negative things going on in the lives of our clients as well as our own lives. It is so easy to fall into that negative mindset trap. Just listen to the stories of how a person paid $300,000 and now it is worth $100,000. Clients are losing their homes, needing to short sale, getting divorced, losing their jobs and so on…
Definition of Mental Toughness: The ability to stay mentally and emotionally strong during adversity. The ability to take action regardless of the mood.
The key component of Mental Toughness is developing a felling of inner confidence, happiness and satisfaction in your business.
Let me share 8 ways to develop Inner Confidence:
- Resolve your conflicting thoughts about your real estate business.
- “I hate selling but I want to be in real estate”…Real Estate is a sales business.
- “I want freedom yet I don’t want to work a schedule”
- “I want to grow my business yet I don’t like calling people”
You must stop making the real estate wrong and accept it for what it is.
- Practice detachment from the outcome
- When you are focused on the outcome for the client then you are no longer attached to your personal outcome. You are not making a presentation to earn a commission…you are making a presentation to serve the client.
- When you are committed to others…you cannot be offended. You can see objections as nothing more than questions in the minds of the prospect. Objections are not rejections…they are just questions.
- Too many options
- You must limit your options
- You have to cut off the options that get in the way of you serving more clients as well as you making more money.
- For too many agents, failing is actually an option. They say it is not an option yet they go home every day feeling as if they have failed again. As long as you feel you are not successful then you have allowed failure to be an option.
- Don’t answer out loud or raise your hand yet answer this question in your head…Are you really successful in the business of real estate?
- Some of you still have failure as one of your options. You must eliminate this from being an option.
- Learn how to make and keep promises to yourself and others.
- If you continue to make promises that you do not keep then you will eventually eat away all of your inner confidence. Sooner or later you will stop making commitments. When you stop being committed…you start to slide backwards. When you slide backwards…you lose confidence. Everything has a cause and effect.
- Here is a thought…”Every dream I have is just a promise kept away” Once you make the commitment, you start to turn dreams in to reality.
- Keep your promises and dreams are realized
d. Commitment is the instigator that ignites breakthrough. The moment you commit…things align and adjust. Life adjusts to your commitments…not the other way around.
e. If you want more business then keep more promises…Make more commitments.
- Has any of you ever promised to make a certain amount of contacts yet failed to keep your promise?
- You also failed to get what that promise promised you.
f. Trust me…the system will not fail you. It is you who can fail the system.
- Set your life up so that success is natural.
- Follow a morning Ritual
- Make sure you have systems for generating business
- Systems for negotiating contracts (like MK provides me with a spreadsheet)
- Create a simple system for everything
- Workout in the morning. Adrenaline speeds up the mind. It makes you more aware.
Adopt habits that force you to succeed
- Set standards for yourself and your business and do not waiver
- Minimum Price Range, how long you will follow up with someone, how often you call for reductions, how many properties will you show the buyer…
- You have to understand that you will NOT always be on fire.
- Sometimes you are hot and sometimes you are not.
- Ebb and flow
- When you are not on fire then stop for a moment, clear your mind, remind yourself of what you are committed to, see you with the desired result and get back on the court.
- Recognize that breakdown is a part of the process.
- Success is a series of well managed failures.
- Success is NOT a series of well managed successes
- Breakdown is the process
- Top Producers love the breakdown…They know that growth is born in breakdown.
Characteristics of a great presenter?
You have to understand that a buyer presentation or a seller presentation is a presentation. It is you on a stage speaking to an audience. This is your time to put on a show.
BTW…They are judging you the entire time
- Effective presenters speak with authority.
- You must believe in your product or service
- You must believe your own sales pitch
- You must know in your heart that what you are telling these people is the truth as you know it.
When sales people try to fool the consumer, it is the sales person who is fooled.
- An effective sales person knows how to ask the right questions and redirect the presentation.
- When a client is wanting a higher price for their property, you can always ask the following.. “Do you believe that someone is going to pay you $50,000 more for your home than they can buy one for down the street?”
- “Do you believe that you will be able to buy a quality property like this for $50,000 less than what the market appraises it for?”
Effective presentations are all about asking the right questions while listening to the prospects statements.
- Effective presenters can sense when there is tension in the air.
- Add humor when there is too much tension.
- When tension exists in the air, your prospects minds shut down.
- A smile can relieve tension
- Make sure that YOU are not the tension.
In today’s market, the conversation about real estate can be a little stressful. When you notice the client is getting a little stressed, slow down, add some humor or smile to break the pattern.
I remember when Tom Ferry described it as, “Too much rape and not enough foreplay.”
You have to be aware of the emotions that exist in your clients minds at the time you are talking.
- We have to know when to ask the hard questions and we have to be willing to listen to the answers.
- Too many agents are afraid of the answers.
- An example of a hard question…”Do you honestly believe that holding onto this property and paying $20,000 per year in carry costs is the right thing to do for you and your families financial picture?”
This is a hard question because it puts the listeners butt on the line. If they say ‘no’ then they will have to accept all of the consequences that follow in the future. They can no longer BE the victim. They are now the cause of the future effect.
You will find a lot of people hesitating to answer this question because it means they are now responsible for the future of the families financial situation. This works for those that are still blaming the market for their problems.
Remember this…. “It is not the market at fault any longer…It is the decisions that we make that is at fault from this point further.”
“The market will not cause you to lose more money from this point forward. It is the decisions you make that will cause you to lose more money moving forward.”
- I know this is basic and you probably get tired of hearing this yet you have to know your script inside and out in order to be an effective presenter.
- Scripts give you confidence.
- When you are confident in you then others are confident in you.
- When others are confident in you then they allow you to lead.
What would you do if a surgeon had a shaky hand?
Would you feel he was confident?
What would you do?
Would you object?
If you are getting a lot of objections then this is a sign that your lack of confidence. The quickest way to gain confidence in your presentation is to know the script.
If you were a surgeon right now and your surgeon skills are the same has your current real estate skills, would you operate on someone?
- Great presenters always speak towards the end result. You must stay on path at all times to get the desired result.
- 100% of the conversation should lead to getting a contract signed.
- Do not talk about your personal life. Do not get into conversations about their children, dogs or cars. Keep it to business.
- Remember, your goal is to serve the client and you do this by convincing them to hire you or buy the property that you know is best for them.
- You can be a much more effective presenter when you ask questions that lead them to a logical conclusion.
- “Do you see how this price will make a difference to a potential buyer?”
- “Do you want a potential buyer”
- “Do you want an offer on the property”
- Use a lot of tonality to control the conversation
- Rate of speech
- In order to move the conversation forward in the direction that you want, you sometimes have to answer your own questions.
- “ Do you still want to sell?…Obviously you do or else you would have never listed in the first place.”
- “Do you want to purchase a property? Of course you do or else you wouldn’t have wasted your time driving for 5 hours to the beach.”
- To be an effective presenter you must ALWAYS support you presentation with facts.
- Sellers sell off logic
- Buyers buy off emotion
- Everyone believes facts
No matter who the client is, they cannot argue with facts.
Jan…What were the numbers the other day between the Hoffman Group and THG in terms of number of residential homes sold?
How can you argue with the facts?
- An effective presenter is always closing to make sure the prospect understands and accepts the conversation.
- Tie Downs
- Does this make sense?
- Can you see how I came to this conclusion?
- An effective presentation is about the client…it is Not about you.
- The prospect needs to know that the presentation you are making is based on their situation.
- You have to know what the motivation of the client is at all times.
- An effective presentation starts with your appearance.
- I am recommending that everyone upgrade their image
- I think we should go into every appointment with a jacket and tie
- I am not making this mandatory yet I would like the market and the consumer to see us as the most professional team in town. We know how to speak it and now we need to look it.
- Believe it or not…you could be losing contracts because of your image
- NEVER DRESS CASUAL to an appointment.
- Always dress as if you have an appointment
- An effective presenter will be respected…and hopefully liked. We do not want to be liked and hopefully respected.
- Give an example of Jason Green and the Alissa and Brenden.
- An effective presenter had to crawl before they could walk and walk before they could run.
- Do not get discouraged if you are not at the level that you think you should be.
- The gap between where you are and where you should be can on only be filled by practicing.
- Why do we not practice more?
- What are the advantages of practicing more?
100 Presentations 100
30 Sales 60
3000 Commission 3000
90,000 Income 180,000
The difference between the two people is PRACTICE
Practice Pays Very Well
One thing you must understand is that most real estate agents around the country do not know how or what to practice therefore they do not practice. You have such a tremendous opportunity because I can show you how and tell you what to practice. All you have to do is follow the routine and you will make money.
The people who are not making the money that they want right now are either very new to the company or they are not following the coaching at a high enough degree.
The people making the most money are following the coaching the most. They are NOT lucky, they are NOT getting handouts from me…They are following the coaching.
Something that I have learned about the very best producers…
- They were leaders because they were good followers.
Why do you not follow the coaching 100%?
How do I make money in real estate?
When I travel to different real estate events, I see lots of agents asking hundreds of different questions. As you can imagine, I often hear the same questions over and over again. You may not believe it yet they will ask questions like..
- What time do you go to bed?
- What is your morning routine?
- What is your best technique for getting listings?
- What is your ratio for buyer sales versus listing sales?
- What is the last book you read?
- Who is your coach?
- How do you stay motivated?
- How is your market?
- Is anything selling?
Here are the questions that I am waiting for them to ask..
- How many hours should I prospect?
- How many new contacts should I make per hour?
- How many new contacts should I make per day?
- Who should I call?
- How much follow up should I do?
- How quickly should I ask for a price reduction?
The first set of questions allows the agent to avoid the answers that come from asking the right question…
How do I make money in real estate?
Making money is easy as long as you follow the process…
The Process For Making Money
- Start everyday with a specific result in mind. You must have a goal every day.
- Today’s goal should be your total goals divided by 200
- Start everyday generating NEW business.
- The newer to the company or business you are then the more contacts that you need to make.
- Rule of Thumb for a new prospector…The number of deals you want to do for the year equal the number of new contacts that you MUST make per day based on a 200 day work year.
- There must be a specific number of contacts that you have to make EVERY day.
- Follow Up with all of your leads everyday.
- You have to be follow up with leads more aggressively.
- Narrow the gap between conversations.
- There is too much competition in the market for us to sit back and hope they will call us. If you wait too long then they will already be listed with another agent. I am sure you have already experienced what I am referring to.
- When you do talk with them, ask them to sign a contract every time. Stop checking in with people…start closing them down for a signature. Ask for the sale every time.
- If what you are selling them has value then you should work hard to get the signature. Them signing helps them as well as you. Them not signing hurts them as well as you. What do you want the outcome to be?
- Make a minimum of 2 presentations every day.
- If you are generating everyday then you will find two people to present to everyday.
- Present and send paperwork…this is your job.
- Research and ask the buyer to make an offer…this is your job.
- You must make presentations everyday if you expect to earn a great income.
- Price Reduce every listing every 21 days.
- I understand sellers do not like this yet it is the lesser of two evils. If you do not make the appropriate price reduction now then you will have to ask for a bigger one later. Asking for a large reduction later is much tougher then a smaller one today.
- Ask your seller…”would you rather make this minor adjustment today or take the risk that the price goes down further and you have to make a bigger one later?”
- The money in real estate is made through price reductions…not new listings.
- Buyer’s agents MUST generate online leads daily.
- More and more buyer calls are coming in where the buyer states that they already have an agent. What is interesting is that the agent they have is an agent that they met on the internet and have never met them in person. You have to take advantage of this.
- Craigslist, Postlets and other online classified websites are driving a lot of business to agents. For buyer’s agent, this is now a form of prospecting.
- You advertise for free every day…You collect email address as well as field some direct calls…You work with those that are motivated…You drip on the rest until they unsubscribe or let you know that they are now motivated.
- You negotiate when you have an offer which is something you will have a lot of when you follow the steps above.
- You work so hard to get an offer…Don’t lose it…make the sale.
- Find some facts that support your case and make a great presentation.
- Negotiations are presentations. You must prepare, you must be on script and you must tell them to move forward and sign the contract.
- Right this down and look at it everytime before you start negotiating. Answer these questions everytime before the call.
i. What am I going to say?
ii. What facts do I have to back me up?
iii. Why should they do this deal?
iv. What is their motivation?
v. How do I create urgency?
vi. Why would they not do this deal and how will I counter those points?
- CRITICAL.. Take 15 minutes and think about your business
- You must engage in creative thinking everyday.
- Think, choose and execute.
- Start over at #1 tomorrow
- Remember, everyday you start with nothing and it is your choice if you end with nothing.
The key is understanding that you ONLY have to do these 9 steps to succeed at a high level.
Since it is so easy to excel in the real estate business, why don’t more people succeed?
Anita…You made a comment to me the other day that I wanted to hold until today…You told me that you were not sure what your job is. Is that how you put it?
What did you mean?
Explain my thoughts on how to work the buyers more effectively
1. Every buyer email you have should be in a database that is receiving information through adrip system or deals of the week eblast.
2. You want these buyers to buy or opt-out
3. Make sure they are receiving automatic updates on new listings and monitor their search frequency as well as the types of properties they are searching.
4. Ask them all to buy now. Share the benefits of buying today…Why should I buy today?
5. Lead Router…How many of you are behind on follow up?
- What is the challenge?
- You have to look at Lead Router as a telemarketer that you do not have to pay. It produces leads for you.
-The key to any system like this is that you have to be organized and able to systematically communicate with a massive amount of people at one time.
- Buyers agent, by nature, seem to do anything they can to avoid generating new business. You do not want to be one of these agents.
- Do not buy into the drama that these leads are not good…consider that you have developed a good follow up system to capitalize on these leads.
- I have learned over the past year that it takes a long time to develop a solid pipeline of quality buyer leads. Buyers are searching much earlier than they used to causing you to have to communicate over longer periods of time.
- You can go into lead router ever week, create and email about the hottest investments to hit the market this week and send it to your entire database in minutes. Who knew that you could do this?
Consider this…You may not have known because your mind was too consumed as to why the system does not work well versus what you need to learn to make it work we..
You will never find the solution when you are thinking of the problem.
Share some challenges with the Lead Router system and let’s see if we can brainstorm some solutions today
What Buyer business challenges exist today?
Most of you know by now that I have created an application for posting Craigslist ads quickly. I want you to know that there are only two people in the office that are consistently posting these ads on a daily basis.
I understand that you are your own boss and I cannot make you do things. I am a little concerned that most of you started posting a few ads and then stopped within less than a week.
The key to making money in real estate or any other business is long term commitments to different strategies. If I were to have started prospecting and then quit a few weeks later, I would have never learned how to become a powerful prospector. If you would have stopped trying to walk as a child because it didn’t produce immediate results then you would still be crawling.
This is a challenge for me which becomes challenging for you. Let me explain the cycle…
- When I produce a new opportunity that I believe in as a coach, I assume you will follow my word. Of course, I understand that making assumptions is not helpful yet I still have that hope that you will follow.
- When you do not follow my coaching then I assume that you are not coachable or you do not want coaching…Maybe you do not really want to succeed at a high level.
- When I come to the conclusion that you are not going to follow the coaching, I turn to others that follow the coaching and I spend more time developing their businesses with them.
- As I spend more time with those that are coachable, then others get upset. They feel as they do not matter or I have my favorites. They start to withdraw.
I promise to NEVER suggest you do something in real estate that will not benefit you. I may create things that do not work yet it will never be intentional.
Craigslist over the next over the next 6 months will be critical for those looking to attract a lot of buyer leads that will close next year.
This is the time where you can collect hundreds of leads, put them in your system and watch them mature next summer. You have to think like a farmer…Plant seeds, water them over time, watch them grow and pick the fruit.
Craigslist is a form of prospecting for buyers.
Just like anything else…there will be agents that set a lot of appointments and those that set few from Craigslist. The difference will not be in the leads themselves, they will be because of the skill set and systems of the agent.
IF you are not getting the result that you want form the leads then you need to talk with me or someone else that is getting the result.
I truly believe that we will make 120 or more sales off of buyer internet leads next year. I also believe we increase this number if all of the buyers agents jump on board and follow my coaching
Explain the SLD Newsletter
I want to expand on the conversation that I started on Tuesdays call.
First, let me explain the system in its entirety…
The goal for the newsletter system is for us as a team to be able to communicate with thousands of people each month.
The key to this communication is that it must be consistent, it must be informative, the consumer must see value and it must educate the consumer. Without all of these factors…it does not work.
The reason I have a central system for this is to assure that those above characteristics exist in every single email that is delivered to the database. This is a skill and it is not that I don’t trust that you can do it yet I have learned over the years that agents have a hard time with consistency. They also have the temptation to sell in the emails which will amount to people opting out of the emails .
When you send bad content…
Database of 1000
20 people unsubscribe per month
In two years the database will be under 700
When you send good content
3 people unsubscribe per month
100 more people are forwarded you email
10 new people opt in for your database
In 2 years you have 1300 people in your database
Good content alone grows you database.
KJ and I went to Atlanta Bread Company…
The future of the SLD database
How to have breakthrough in your business
- A big breakthrough is created by the execution of a series of small tasks.
- It does not require anything big at all. It requires that you make small decisions often and execute on those decisions.
- Everyone wants to think of something big that will make them millions when millions are made one dollar at a time.
- The reason why some many people don’t breakthrough is because they think it has to be something big.
- Creating something big comes from a series of small decisions. It the accumulation of these small ideas that creates something big.
- There is a lot of pressure in trying to reinvent the industry. There is little pressure in attempting to get 10% better at 10 different things.