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In This Issue...
Timing Your Market
Wayne Gretzky once said that the reason he was a great hockey player was because he was always heading to where the puck was going to be, rather than going to where it was. He was ahead of the game. He could see where the puck was heading and the opening ahead where it was going to be, a pass or two ahead of time. • Where is your market going in the next sixty days? We need to understand the market to take full advantage for our clients and prospects. Here are six things to look at: 1. The average list price to sale price All of these variables affect your current market. They will shape what you do in response to the market and the results you get. You need to know these six things to enable you to gain the upper hand in all your ventures. 
What Prospecting Is – and Isn’tProspecting is one of the easiest but most misunderstood concepts in the field of sales. Sales trainers are always trying to sell their “prospecting-free systems” on worldwide speaking circuits by saying, basically, “You will never have to prospect again if you use my system.” And, because salespeople secretly don’t want to prospect, they readily buy into the too-good-to-be-true, no-prospecting philosophy. Our readiness to take the easy bait makes us like the wolves that are hunted above the Arctic Circle. The wolf hunter dips a sharp knife in blood and freezes it. He repeats this over and over until the knife is thick with layers of frozen blood that attracts the wolves’ keen sense of smell. They begin to lick the knife, working themselves into a frenzied rage to find fresh blood. Eventually, they succeed, taking their passion for the knife even higher. What they fail to realize is that the fresh blood is actually their own. They bleed to death from their own actions. As salespeople, if we buy into the myth of a prospecting-free sales system, failing to learn sound prospecting approaches and abandoning the need to continually develop new leads, we risk ending up like the wolf – chasing false promises and endangering our livelihood in the real estate business. Webster defines prospecting as “seeking a potential customer, seeking with a vision of success.” Notice there’s nothing in that definition about waiting or hoping. The definition revolves around action being taken by the salesperson, starting with the word “seeking.” Prospecting involves finding people to do business with. The other key phrase is “with a vision of success.” Prospecting requires positive expectations. It requires a positive-results mindset, in part to overcome the influences of all the other agents who don’t prospect, don’t value prospecting, and stand by to negatively influence your vision and expectation of success. As a new Realtor in 1991, I joined an office full of experienced agents who were doing well. I knew that to succeed I needed to prospect. I didn’t know much more than that, but I understood the value of prospecting based on the results I’d experienced in my previous sales jobs. I’d come into the office at 7:00 a.m. and by 8:00 I’d be talking to expired listings, FSBOs, people within my sphere of influence, whoever I could reach on the phone. The snickering from the other offices didn’t escape my notice, nor did it redirect my efforts. The laughing died down within six months when my listings and sales put me on top-performing lists – and it stopped altogether when I made over six figures in my first year in the business. I became the number one agent in that office after my third year in the business. And my commitment to prospecting hasn’t stopped yet. What Prospecting Is: What Prospecting Isn’t: While marketing is very important, prospecting is the pathway to sales success. Need more help with listings? Click Here or See Below
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PersistenceI was asked recently what the one skill is that a Realtor® needs in order to be successful. That was a tough question. The one skill…I thought about it over and over. There are so many skills Agents need to be successful. We have to have good presentation skills, marketing skills, negotiating skills, objection handling skills, technology skills. Then it hit me. All those skills pale in contrast to this one: Persistence. It is the one skill that will make up for our deficiencies in all the other areas. It will allow us to win in life no matter what obstacles are placed in front of us. Calvin Coolidge, our 30th President, said it very well, “Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.” It truly is a noble skill to have the ability to move forward when everything around you is collapsing and meeting the challenge head on and grinding through the competition. We are all professionals, or we aspire to be a professional. The definition of a professional is someone who does something, even when he doesn’t feel like doing it. Many of us know what we need to do; yet we don’t do it. We spend our time looking for the one step that will change our life, rather than using the path of persistence to win. We look around for the magic answer that will solve all our problems. Do you realize that over 80% of the late night infomercials are centered on “get rich quick or lose weight instantly”? We live in a liposuction society where we want abundance-yesterday. We don’t want to do the diligent, persistent work to achieve success. My friend Zig Ziglar has a great line: “Life is like a cafeteria. First you pay, then you get to eat.” It’s not a restaurant where you sit down, get served, and get your fill. When you are full and satisfied, then the bill arrives. You have to pay before you receive the reward. Persistence is crucial to ultimate success in life. To learn the skill of persistence, you must first learn to persist in the little things. The first step for mastery of persistence is the ability to decide and have the clarity of decision that you will do it or else. Start with persistence in your eating habits or workout habits. You could even just select one thing or task you need to do today. Then make sure you complete it before the end of the day. Don’t ever end your day before you get it done. We often select too many things or set the bar too high too early. This will cause us to fall short, and the negative self-talk will begin. The journey to run a marathon begins with a walk around the block. Start with the walk around the block and, in a few days, go twice around. Then in a week, you can do four times around. By the end of the month. you will be able to walk a mile. The process in business is the same. Start with calling a few past clients or sphere of influence. Call five people a day. You don’t need to do four hours of prospecting. That’s like running a marathon without training. If you managed to actually do it, which would be rare, you would be so sore and tired and spent. You would be worthless for a week. Build the skill of persistence. The best technique to learn persistence is to just start. The truth is it’s the start that stops most people. Just beginning is the biggest barrier for everyone. Getting your sneakers on and stepping on the treadmill or picking up the phone the first time is never as bad as our mind makes it out to be. Once you begin, you pick up momentum and that positive self-talk of accomplishment. My father taught me a saying many years ago. It is a saying about persistence. It’s a saying that exemplifies his life. Once a task has begun, Persistence is, by far and away, the skill that we need to master. It is the one skill that guarantees success in both your personal and professional life. There is no substitute. Remember, it is the start that stops most people.
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Preparation is critical for success. Sometimes, when the market takes off, we are not prepared or ready to take advantage of it. Part of being a successful agent is knowing where the market is heading. The key is getting there before the others.
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