In This Issue...

• Mega Mastermind Teleseminar - Invitation
• How to Engage an Expired Listing - The Right Way
• You Reap What You Sow - Good + Bad

Mega Mastermind Teleseminar - Invitation

Thanks for joining me today on your journey toward success as a Real Estate Agent.

The two areas that we'll focus our time on today are How to Engage an Expired Listing & Reaping What You Sow. Either of these could help you change your life in 2007 if you'll read, absorb, and use the information.

I hope that you'll invest 9 minutes of your precious life with me today and that the information proves to be a blessing to you and your career.

Before you head off to your training for the week I'd like to give you a personal invitation to, what I believe to be, a rather noteworthy event.

“Discover the answers to the top 10 most burning questions
from over 250,000 Agents in 159 countries!”

To my knowledge this has never been done before to the degree of which we're doing it. We're calling it the Mega Mastermind Teleseminar. Mega sounds rather hyped up, but if you think about surveying over 250,000 Real Estate Agents in 159 countries, I think that's a big enough deal to call it Mega. It's a Mastermind because I'm opening it up to you and all of my faithful Coaches Corner™ Newsletter Subscribers for your input and participation.

We are implementing a new technology that will allow us to collect all of your questions and sort them to determine the top 10 most important questions. We'll be collecting your questions for the next few weeks, and on March 22^nd I'll deliver the answers, complete with solutions, during a 90 minute free teleseminar.

By design, this will not be at all like the other free teleseminars you're used to getting. If you've been a Coaches Corner™ subscriber for awhile then you'll know for a fact that I don't normally conduct free teleseminars, and normally charge at least $167 for a 90 minute teleseminar like this.

Why am I doing this? Well, by conducting this Mastermind group we all learn and benefit from each other. I'll learn the most important questions facing Agents today (which is invaluable information if you're a Real Estate Coach & Trainer), and you'll learn the answers to the questions and some tips to solving them.

So, here's the deal. Assuming you had me on the phone and could ask me any question whatsoever regarding Real Estate, what would you ask me? Type your most important, burning question below:

"If could ask me any question whatsoever
regarding Real Estate, what would you ask me?"

Over the next few weeks my team will tally the results and hand me the top 10 most asked questions. I'll put together the answers; and any appropriate tips, tricks, scripts, tactics, etc that are required to equip you to not only answer the question, but to solve the underlying problem related to the question.

Then I'll deliver all 10 of them LIVE on March 22^nd at 9:00am. You'll be sent an email invitation to participate in the call, and we'll make room for as many callers as our techie guys can handle.

If you know that you won't be available for the call, that's OK too. We'll make an online recording available for you to listen to afterwards.

To your achievement of success in life,


Dirk Zeller
CEO
Real Estate Champions, Inc

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How to Engage an Expired Listing - The Right Way!

If you’re a Listing Agent, the two biggest questions you face are: Who do I call; and Where can I obtain seller information? If you’re working to convert expired listings, the answers are right at your fingertips.

Follow these steps:

• Read the daily MLS hot sheet, where each day most MLS systems post newly expired listings under the category, “expired listings.”

• Search the MLS file by entering “expired” as your search parameter.

• See if your market’s MLS system is among the few that allow Agents to identify in advance the date listings are set to expire. Most MLS systems block an Agent’s ability to see when another Agent’s listing will expire; some do not. If your MLS provides the expiration date, you can print information on properties that are due to expire within the next few days and be prepared to move when the time arrives. Don’t jump the gun, though.

Let listings expire before declaring them “dead”

I admit that I’m not a fan of Agents being able to see in advance when a listing will expire. Access to too much information is bad for several reasons:

• Knowing the expiration date can be detrimental to sellers; when Agents know that a listing is about to expire, showings diminish. For one thing, Agents deem the property “picked over”. Also, they sometimes hold off showing it to prospective buyer clients, hoping that by waiting they can win the listing and therefore represent both the seller and the buyer. 

• Knowing the expiration date can be tempting to some Agents.  Contacting a seller in advance of a listing expiration is a clear violation of the code of ethics for REALTORS®, but, unfortunately, that doesn’t stop some Agents who wander into the gray area when they are desperate for a listing. The vast majority of MLS systems block Agents from viewing the expired before its time, but when the date is revealed, a few Agents use the information and lower the standard of ethics for the whole industry. 

Keep an eye on listings that are about to expire and be ready to move quickly to contact the owners, but wait until the expiration date arrives before taking action.

With the seller’s information in hand, you’re ready to proceed with what I call a high-probability lead.

Leads come from many sources: Internet inquiries, ad calls, sign calls, and cold calls. Some deliver possible leads; others deliver probable leads. The difference lies in the likelihood that the leads will convert to business.

• Possible leads convert less than half the time
• Probable leads convert far more often.

Obviously, it’s most efficient to work probable leads, and it’s hard to find a more probable lead than the owner of a home with an expired listing. The owner has demonstrated the desire or need to sell and the existence of a problem you can help solve. The problem, of course, is that, after waiting out the entire listing period, the owner’s home didn’t sell. The problem, in most owners’ eyes, is that the previous Agent didn’t perform. More than half of the time, these homes go right back on the market with a different Agent ­– why not you?

Working expired listings is an all-or-nothing game. You can’t proceed in a half-hearted, here-today-gone-tomorrow fashion. Either you work expired listings ­– every day and on a consistent basis – or you don’t. You can’t try to work expireds for a few days when you find yourself low on listings, and then quit for a few weeks only to return to the effort again later. There’s no such thing as a kind-of-expired Agent. If you want to capitalize by converting expired listings, be ready to make working expired listings your way of business life.

As a new Agent, my work life revolved around expireds. I learned that in any given month most listing expirations occurred over the course of a few days, and that is still the case today. Up to a third of all the listings that expire occur over the last few days of the month and the first day of the new month. If you are going to work expireds, get ready to make those days very long work days. I followed this routine:

• I’d arrive at the office around 6:00 a.m. and immediately print out the expired listings. Some days I’d end up with more than a hundred listings on my desk.

• At 6:30 a.m. one of my staff members, who usually arrived at 7:30 a.m., came in to start researching phone numbers that weren’t listed on the MLS printout.  We searched four different sources for missing numbers. We first searched the Coles directory. Then we would move on to the MLS Metro-scan search. If we still did not acquire the phone number, we would go to the internet through Yahoo and people search. Finally, we would package the rest up for the title company to search the tax records and have back in to us before 9AM.

• I have also called the previous Agent at times to ask for the seller’s phone number and offer them some of the commission if they give it to me. The reason is if I get it and few other Agents have it in the market I have a higher probability of securing the listing.

• Based on gut instinct, market knowledge, and the information contained in the MLS printout, I’d sort the properties, quickly determining why each didn’t sell and putting the ones that offered the highest probability of listing conversion and sale on top. Also, I’d move promising properties located in areas where I really wanted listings to the top of the list.

• I would then practice my scripts and dialogues, spending time to anticipate the objections I might hear from the seller and practicing how I’d overcome the barrier. I knew before placing a phone call to the owner that my objective was to move beyond any objections and to secure an appointment. 

• After a half-hour’s practice, by 7:45 I was on the phone, aiming to reach people before they went to work and before other Agents began to make contact later in the morning. Today, your schedule is dictated by limitations stipulated by state and national No Call Laws.

• If you cannot secure the phone number because of the No Call laws or you simply can not find the number, go to the door directly. Most people are better face-to-face anyway. You will see fewer people but be more effective because you are face-to-face.

• My goal was to be the first to get through to the owner of every expired listing, but obviously that isn’t always possible, especially on a day when the pile of listing printouts numbers a hundred or more.

• Once I got through, scheduled an appointment, and established a good connection and sense of trust, I’d warn the owners about what to expect over the course of the 24-48 hours, suggesting that to avoid interruptions they could unplug their phone for the day. I knew that if the owner could dodge the calls over the first day or two following the listing expiration, most Agents would quit trying to get through.

If you'd like step-by-step training, including the scripts & tools you need for more effective techniques for expireds ...check out my program "Lead Mastery™" here.

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You Reap What You Sow - Good + Bad

Being a great salesperson is really not a lot different than being a great farmer.  Farming and sales are very similar in what needs to be done.  If salespeople would think more like farmers, their income would grow like crops grow.

When you look at farming, it is based on two fundamental laws of nature: 

The first is you reap what you sow.

Farmers are paid based on sowing.  If the farmer doesn’t sow seeds, the farmer has zero results.  The first and most important thing for a farmer to do is sow seed.  No seeds…no crop!  Now one could argue that there are better fields, more fertile land, more efficient and effective ways to farm, better fertilizer, and better watering techniques.  All these variables can increase the quality and quantity of the harvest.  They also mean nothing without seeds in the ground.  If you don’t plant seeds, it doesn’t matter what else you do after that . . . you won’t have a crop.  You could have the best watering system in the whole world, but without seeds, you have nothing.

“Sales” is like farming.  The seed-planting process in selling is prospecting.  Just as the farmer does not get a crop without planting seeds, a salesperson does not get results without prospecting.  I realize there are many people trying to sell you a no-prospecting system which promises success.  I also know that many of us buy these systems, and most of us wish we didn’t have to prospect.  When we look at reality and the laws of the world, we can come to only one conclusion; we have to put in before we can take out.  The prospecting is putting in.
           
As a salesperson, you could have the greatest computer driven monitoring system, marketing pieces, presentations, drip campaign, tracking systems, and staff.  Without prospecting as a constant focus to sow new seeds, the rest does not matter.  Too often, we spend so much time trying to get everything perfect, we lack the one thing that is the choke point for most sales businesses . . . prospecting.

The second fundamental is you reap more than you sow.

The farmer gets far more than he plants.  When a farmer plants corn, he receives a return of corn that is greater than what he planted.  The seeds of corn will return the original investment to the farmer with interest.  The tiny seeds that were sown ended up producing many more ears of corn with hundreds of kernels per ear.  This abundance comes from one seed!  It is almost unfair how much is received from sowing a little seed.  One seed the size of a corn kernel yields thousands of kernels on multiple ears of corn.

As a salesperson, that type of abundant return is waiting for you when you sow your seeds.  When you prospect, the return in dollars far outweighs the effort that you put forth.  You tap into the law of accumulation, which says everything accumulates.  We are in a constant state of accumulation.  We are either accumulating positive things or negative things.  We do not have the power or choice to not accumulate.  The only choice we have is what the accumulation will be.  There are only two options when it comes to accumulation.  They are dramatically different, either good or bad.  Based on what we do, we will either accumulate good things or bad things. 

If we sow bad things (bad habits or bad seeds), we will accumulate bad things.  Since you reap more than you sow, you will reap an over abundance of negative things if you sow negative seeds.  If you sow positive or good habits and good things, you will reap an over abundance of good things.
           
Let me close with this thought…it is not fair!!  It’s not fair that you attract an over abundance of negative things when you sow bad habits and bad things.  I am the first to agree with that.  I am also the first to say it is just the way it is, and it will not change.  The law has been present for thousands of years, and it will still be in effect long after I am gone.  Whatever you sow you will reap in great quantities.
           
It is also not fair that we receive such a large return for sowing positive habits and positive things.  We are compensated incredibly for a little bit of consistent sowing or prospecting.  We sow a tremendous return for a little physical activity.  We receive abundantly from a little time invested consistently with our children.  With a little daily physical activity, we can drop weight.  With a little savings of money each week, we can become financially independent.  The return is huge compared to the small sacrifice or small amount of saving we must do!

For more information on Prospecting techniques... see chapters 6, 7, 8 in my New Book.

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March, 13th

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• Prospecting?

• Lead Generation?

• Listing Presentations?

• Scripts & Dialogues?

• Objection Handling?

• Converting?