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In This Issue...
Words from the President
In the end, if we really look at them, one will leap out. There is usually one that stands head and shoulders above the rest. I would identify this one thing as the "limiting step". The reason I call it that is because, until you step over it, your life will be limited. You will not be able to progress to the level of abundance that you desire. You will often struggle to hit the peak performance level consistently. You will have flashes of brilliance at times and even consistency of growth for periods. But to really fulfill your full potential will be impossible. This does not mean you won’t have a wonderful life and business without its removal. It just means that you won’t be able to play at the level that God created you for. So here is your action plan. Ask one to two trusted friends or advisors (make sure they really know you and care about you) the following question: "What one thing about me do you see as the biggest obstacle to my success?" Meaning, if I changed this one thing about myself I would literally be astounded by the rapid progress I would make toward achieving my dream. Once you get the answer, then create a simple plan to overcome that big obstacle or limiting step once and for all. Start implementing the plan the moment you have created it. Check your progress weekly. We have to remove the limiting step to have a no-limit life. For the many of you who are our clients, ask your coach what your limiting step might be. They will help you identify the limiting step and create the plan.
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Checking Your Prospect’s "DNA"Based on your qualifying efforts, determine the likelihood that your prospect will convert into a good client for your business by conducting a DNA analysis. This involves measuring the prospect’s level of desire, need to take action, and ability and authority to make a purchase or selling decision. D for Desire The summer before my junior year in college, I painted houses to earn money for my tuition, books, and room and board. When I started work on the last house of the summer, I learned that the owner was selling a 1976 BMW 2002. I wanted that car, even though buying it would take all my summer earnings and college savings. My parents tried to counsel me away from this foolish idea. My ability to buy was limited due to money, but my desire was greater than my lack of ability. I ended up borrowing the money for the car and still covered my college costs. This creative ingenuity didn’t please my parents at all. Looking back, it wasn’t one of the smarter decisions I have made in the last 25 years. But it did teach me a lesson about the power of desire or motivation to compensate for all other shortcomings. Let me give you one caution: Desire is not the same as interest. Anyone can have interest. Interest doesn’t reflect intent, and it doesn’t indicate a high probability of action. If a prospect says, "I have an interest in selling,” probe deeper to see if there is real desire to sell, or just interest. I have found that many "interested” shoppers are looking for something that doesn’t exist. Truly, I’ve heard interested prospects say, basically, "If you can get me $50,000 above market value for my house, and you can find one I can buy at $75,000 below market value, I’ll list my home with you.” Get real! The truth is, if I could find a property for $75,000 below market I wouldn’t sell it to him; I’d buy it myself, and so should you! N for Need Many prospects’ needs stem from lifestyle changes that prompt environment changes. A family expecting another child needs a larger home. Empty nesters tired of yard work and home upkeep want to move to a maintenance-free condo. A divorce requires one household to become two households, forcing a home sale and several purchases in the aftermath. The need to buy or sell based on environmental changes such as these prompt the majority of real estate transactions each year. One of the reasons I worked expired listings was because the owners’ level of need was so apparent. After sitting with an unsold home for months or longer, the sellers’ need to find an agent who could solve the problem was pretty clear. My job was merely to convince them that, by working with me, their problem would be solved; that I would deliver a different and positive outcome. A for Ability and Authority Ability relates to the financial capacity of your prospects. Do they have the financial wherewithal to sell their current home and buy the one of their dreams? Do they have enough equity in their current home? If not, can they borrow a larger sum to buy the one they want, or do they have access to additional funds to achieve their goal? Authority means the prospect has the power to make the decision; to say yes or no to the deal. Find out: Are you working with the ultimate decision-maker or decision-makers, or is someone else also involved? Will the prospects decide autonomously, or will they seek the guidance or advice of others as they make their decision? I think agents make a huge mistake when they make listing presentations without both spouses or significant others in attendance. Whether or not both names are on the title matters little. In our family, we own properties that show only my wife’s name on the title, and others that show only mine. This is purely an estate-planning move on our part. If we decided to sell, I guarantee that our input would be equal in decisions about pricing and who should represent our interest in the sale. By using this DNA analysis of measuring one’s level of desire, needs, and ability and authority you will have an accurate basis for determining the probability of your prospect converting to a good client for your business. 
PRESS RELEASE – FOR IMMEDIATE RELEASE
The 20/50/30 RuleWe have all been exposed to the 80/20 rule. This rule states that 80% of our results come from 20% of our labor, or 80% of our income will come from 20% of our clients. When this rule is learned and applied, it is a powerful tool towards success. There is another rule, which I have applied with great results throughout my sales career. It is more powerful but less known than the 80/20 rule. It is the 20/50/30 rule. Let’s take an in depth look at this rule. In the 20/50/30 rule, the 20% is made up of the people who will do business with you easily. These 20% are people with whom you have already built trust and rapport. They have belief and faith that what you say is true. They believe that you are skilled at what you do, and they would be pleased to work with you. They often treat other professionals in other fields with respect, as well. These types of clients and prospects are like gold. This 20% is a pleasure to do business with. They can come from any source such as open houses or by prospecting. They could also be a past client or referral. The next group is the 50% of people who are on the fence. This group, upon receiving a solid presentation and systematic approach, moves towards your side of the fence. But it takes sufficient data and reasoning to get them to commit to buying or selling a home. This group, after careful evaluation of the data, will make a decision based on how it will benefit them. Having a benefit-based listing presentation is crucial to landing this type of prospect. This group is where the majority of your prospects will reside. You just need to apply solid sales skills, and these prospects will become like the "golden" 20%. The final group, which is the group that 30% of people fall into, is the most dangerous group. This group demands tremendous amounts of energy and time to convince them to join your side of the fence. This 30% is highly demanding and often has limited respect for the services provided by others. Even with a solid service presentation, they often demand more from a sales person than the other two groups do. During my career, once I determined an individual was in this 30%, I would throw the lead away because the conversion ratio of this group is very low. A large amount of time can be invested on people in this 30%, which will equal low payoff and high frustration. I am not sure if this group can be satisfied even if everything goes perfectly. My advice is run away from prospects and clients in this group, fast!! We, as sales people, cannot help everyone. Why not just focus on the easy 20%, the 20% that is truly in your corner rooting for you? Then move to the 50%, which takes a little selling of yourself and the benefits of working with you. These categories will provide more income and less frustration. You will have a more enjoyable experience providing your service to these two groups than the 30% group. Next time you speak with a prospect or client there are three questions to ask yourself. The first question is which category are they in? Next ask how can I move them into the 20% if they are not already in it? And finally, how much effort and energy will my team and I invest in moving them to the 20%? Once you have asked those questions, determine what the odds are that they will convert. Is the effort worth the reward? By asking these questions you will be applying the 20/50/30 rule effectively. Your efficiency and income will increase in your business. For
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