In This Issue...

• Grow Your Production By - 75%
• Know the Purpose of Your Presentation - Get More Listings
• Creating Daily Success in Real Estate - Make Yourself a Winner

Grow Your Production By - 75%

As Agents, the number of transactions that are closing at one time often distracts us.  There can be such a thing as too many transactions at once.  When we are trying to do too many closings at one time, we are not spending enough time in new business generation.  This creates a revenue short-fall in sixty days.  We can end up having a month or even a whole sixty days between closings.  This lack of new lead generation can be improved rather easily.

Space your transactions out over a month. Don’t always have everything close at month end.  This will produce a couple of great results.  The first is that your clients will be calmer because they will have more controlled service from you and the other professionals in the transaction.  Lenders and title companies are usually slammed with business at the end of the month.  Most assuredly, your clients will receive better service if they close at another time of the month.

You will also provide better service.  You won’t be pulled like taffy into ten different directions based on your closings.  You will not be spending all your time for a few days in settlements.  This will allow you to control your service, time, and emotions better.

I often see the prospecting and lead follow-up cease in the last week of the month for many Agents.  If that cycle is repeated over a year, we lose over three months of production in prospecting and lead follow-up.

By spreading out your closings, you can continue to do your daily disciplines.  You can further your habit of doing what must be done daily.

To your Success,

Dirk Zeller
CEO
Real Estate Champions, Inc

P.S. For more information on Coaching Opportunities, click here.

Know the Purpose of Your Presentation - Get More Listings

A quality listing presentation involves considerable advance planning, careful research and analysis, and highly developed presentation and sales skills.  This allows you to derive maximum impact from the minimal time you have to present yourself and your recommendations, close the deal, and obtain signatures on a listing agreement.

Your advance planning takes two forms.  First you need to qualify your prospects – determining not only their desires and expectations but also their ability to make the buying or selling decision and complete the purchase transaction.

The other essential ingredient in a listing presentation is a competitive market analysis (CMA) along with a presentation that displays the full complement of your sales skills and abilities and helps you win your prospect’s confidence and secure their listing.

Knowing the purpose of your presentation

Be crystal-clear on this point.  The objective of a listing presentation is to secure a signed listing agreement before the meeting ends. It’s not to pave the way for a “be-back” listing, where you plan to return at a later date to handle paperwork and secure final prospect approval. Your purpose is to make your case, close the deal, and get ink on the paper right then and there while you’re face-to-face with your prospects. If you don’t, I guarantee the odds of securing the listing start to swing away from you.

If you let even a few days or a week slip by, your prospects will have a hard time separating your presentation from other agents who they met in the meantime. And the moment they lose sight of your distinguishing attributes, they’ll revert to a commodity mindset by focusing on price and selecting an agent based on who offered the lowest commission or the highest list price.

I’ve personally made over a thousand listing presentations, and I’ve coached and listened to the presentations of hundreds of other agents. I am totally convinced that a quality listing presentation can and must result in a signed contract at the presentation.

These are two reasons you need to get the listing signed during the presentation: 

• The moment you leave the appointment, anything can happen. A buyer could appear out of nowhere, knocking on your prospect’s door with a direct offer. An agent who interviewed your prospect a few days ago could be desperate enough to call with an offer to cut their fee by another percent. At Rotary or church or a chamber of commerce meeting, your prospect could meet another agent. Or, after-the-fact, they could begin to confuse you for a different agent whose presentation they didn’t like at all. The list of “coulds” goes on and on. The only thing you know for sure is that if you don’t get the signed listing at the appointment, you leave it up for grabs and vulnerable. 

• You need to feel the win. The win in the listing game is when the contract is signed. Don’t underestimate the power of that personal victory. Selling involves the risk of rejection. If it didn’t, it would be called order taking, and you wouldn’t be paid so well because it would be so easy. A listing presentation gives you the chance to go for the win, perfect your close, and attain the victory. Give yourself the satisfaction and adrenaline rush of walking out of the home with a signed contract. Your drive home will be the shortest ever known. If you don’t get it signed, it will be the longest few minutes you’ve ever known.            

I have an incredible coaching client who sells homes on Long Island. She is a listing machine in her market area. She takes over 125 listings a year. Yet a while back, when we tracked the numbers she was closing on the night of the appointment, we found her close rate was less than 40%.

This finding got her focused on the uncompensated time she was spending on second meetings with listing prospects. It also made her think about how many listings were lost following the first meeting. A month later, her closing figures had changed dramatically. With a new resolve to get the contract closed on the night of the appointment, she skyrocketed her closing rate to over 70%.

For more information on how to get the listing on the 1^st appointment... Click Here

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Creating Daily Success in Real Estate - Make Yourself a Winner

The journey to a successful life should be enjoyed.  True success comes from accomplishing the daily activities that will lead you to your ultimate goals in life.  Failing or neglecting to accomplish the daily disciplines will lead you down the path of lost opportunities and lost income. 

If the penalty for not accomplishing your daily activities or disciplines were implemented today, you would look at neglecting them differently.  The truth is the penalty for neglect is more visible in the future than it is today.  The person who eats fried foods does not pay the penalty at 35; he pays at 55.  The person who fails to save 10% of his income for retirement is not penalized at 40 but at 60.  The prospecting we fail to do today does not hurt our income today but 90 to 120 days from now. 

If we were zapped today for neglecting the daily disciplines, rather than in the future, our attitude would change.  We need to associate pain today with not doing our daily disciplines.  We have to make the neglect more painful than the activity.  The truth is we have a tendency to move away from pain and towards pleasure.

There are three disciplines that must be done daily in real estate for success.  They are working on growth, administration, and your business.  Let’s look at each individual area comprehensively.

Growth:

Growth is the part of the business that brings in the revenue.  The more time you spend each day in growth, the more income you will make.  Most Agents focus little time on growth activities.  They work on them at the last minute, when they are running short on funds.  The problem is that is too late.  To have a steady business income, you need a steady approach to growth.

Growth is the prospecting you do daily.  It is the listing appointments you have for the day.  It is the lead follow-up that you are doing with the people who want to buy or sell.  It is meeting with your lender to work on your competitive advantage in the marketplace.

Growth is the critical part of any business.  Without growth, a business will fail. I know a lot of Agents who are highly skilled in growth but poorly skilled in administration and working on their business who earn large amounts of money.  I know of very few successful Agents who are not highly skilled at growth.  My focus is to help our clients achieve a high level of skill in all three areas.  Growth is the engine that powers the train; you must first pay attention to growth.

Growth demands a minimum of three hours daily in the following activities: prospecting, appointments, lead follow-up, and meeting with affiliates.  Prospecting should comprise 65% of the growth time daily.  If prospecting does not happen, the other growth areas will wither.  Remember, the higher the hours spent on growth, the higher the income and profit.

Administration:

These are the activities that complete the income stream:

• Processing the listing, so Agents can find it in the MLS
• Processing the sold property through escrow  
• Communicating with your clients on a regular basis
• Directing your staff and monitoring their progress

These activities, when done well, will enable you to turn clients into fans who will look for new business for you.  You will need one to two hours daily for administration.  If you create a good system and have a highly trained and skilled staff, your time spent in this area will be reduced.  In the perfect system, administration gets done well, but the Agent spends little of his personal time on it.

Your Business:

This is the time that most people neglect.  Working on your business really separates long-term success and growth from just running faster on the treadmill of life.  The ability to earn more profit is also located here.

We are all really employees of our own little real estate business.  We are the ones who bring in the business and make the system go.  The more time we plan, read, strategize, practice, role-play, and implement our ideas, the more ownership we gain.  Becoming the owner of your real estate business only happens through diligent work on your business.  Instead of being the employee who works to draw a salary and pay the bills, why not become the one who orchestrates the company?  Be the one who has something to sell when he wants to try something else and/or retire.

Working on your business is truly taking a step back from the daily rat race to look at your growth and administration areas for ways to improve them.  Look at your productivity and profitability then evaluate your progress.  You cannot make meaningful change without evaluation as an owner, rather than as an employee on a treadmill.

Working on your business is critical to helping you move to the next level of production or decreasing time worked without reducing income or finding where to cut expenses by 10%.  Working on your business will help you create economies of scale in administration and new ways to produce growth and income in your business.  You need one hour per day for this area.  For every minute you plan, you will save ten minutes in implementation.

What do you think your business would look like in 90 days, or even six months, if you were to implement the daily routine below?

Time block these activities into your daily routine.  You will be amazed at the results you will achieve, even in one week.  Do not allow distractions to overtake you and your new daily focus.  Do not neglect to do the things that will lead you to success.  Do them daily without fail.

For more help growing your business, consider coaching below...

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