In This Issue...

• Questions for a Champion
• Qualifying Expired Listings - Effectively!
• Dog Days of Summer - Getting You Down?
• Business Vision - Is Where It All Starts!

Questions for a Champion

I was looking at the three most important questions winners ask themselves daily.  These are the questions we need to evaluate for short-term and long-term success.  They will help us produce the fruits of life.

Question #1: What do I want?

This question truly is the most difficult one out of the three.  This question stops most people from moving forward in their life.  They have never determined what they want in concrete terms.  Therefore, they never achieve it.  What is it you want?  This question should be answered well by your life plan.  When was the last time you reviewed your life plan?

Every one of you can have what you want in life.  You have the God-given talent and abilities to achieve it.  The question is what do you want?  Benjamin Disraeli said, “A human being with a settled purpose must accomplish it, and nothing can resist a will which will stake even existence upon its fulfillment.”

Question #2: How am I going to get it?

Once you know what you want, the next step is to create a plan to achieve it.  Planning is an important step towards achieving the end result.  Planning is also a big step towards efficiency.  We must focus on efficiency of our time and resources.  By planning, we save a great amount of time in execution.  There is an old saying: for every one-minute of planning, we save ten minutes in execution.

Don’t move back and forth from planning to execution.  Complete the planning process and then move into execution.  We often get bogged down by the constant shift between the two.  I have watched a good friend of mine do this for the five years that I have known him.  He is always looking for the magic answer . . . the latest get rich quick scheme.  If he would have set a path and then made a plan to stay on the path, he would be financially set by now.  Remember, set the plan then work the plan.

Question #3: When am I going to do something about it?

When do we start?  Start…NOW!!  Don’t delay; start today.  There will never be the perfect time to start.  To coin a phrase, “Just do it!”  The biggest waste of time in life is from the moment we know we need to start to when we actually start.

Implementation separates massive success from the result.  Let me share with you tangible results from implementation.  We have a client who has implemented big plans and changes in her business.  She listed about 60 homes last year.  By April of this year, she had already listed over 50.  She is focused on making the changes in her business.  She has an honest shot of tripling her business this year compared to last.  She is up everyday focusing on her plans and changes.  Each and every one of you can achieve those types of results.  She has an exceptional ability, but so do you.

To your achievement of success in life,

Dirk Zeller
CEO
Real Estate Champions, Inc

P.S. The three areas that we'll focus our time on today are Qualifying Expired Listings, Dog Days of Summer, and Business Vision. Any of these articles could help you change your life in 2007 if you'll read, absorb, and use the information. I challenge you to take a few minutes of your time to read this material. If you don't have time now, print them out and take them with you to read between appointments.

P.P.S We've just launched the Champion's Minute™ and are offering it to Coaches Corner™ Subscribers for free. It's a weekly video coaching session with me where I'll give you a 10 - 20 minute motivation, inspirational, or leadership training every week. You can register for free here.

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Qualifying Expired Listings - Effectively!

When an owner and agent agree to work together to sell a property, they sign a listing agreement that is valid for a specific length of time. Unless the home sells and closes within the specified time period, or unless the owner and agent agree in writing to extend the time period, the listing expires.

When working expireds, get ready to work with owners who are frustrated that their homes didn’t sell and who, in most cases, blame their agent and, by association, all agents in their real estate market. Many will also blame the marketing strategy, the marketplace, and the lack of effort put forth by the real estate community. They’re not happy campers.

In most cases, the blame is misplaced. The real culprit is usually the price the owners expected to reap from their property sale. If you help them dive back into the market with the same unrealistic price expectations, you’ll set yourself up for an unhappy ending.

Your ability to qualify the owner’s level of motivation to sell at this time, based on the current market conditions, will determine the likelihood of a commission check. Find out:

• Are they determined to acquire a buyer at their current inflated sales price?

• Which is more important: To obtain their desired price or to secure a sale?

• Are they open to discussing the true market value of their home?

What you’re trying to find out is whether the owners have to sell or just want to sell.  Someone who has to sell or is forced to sell is a higher-grade prospect and more likely to result in a sale – and a commission check – than someone who is just testing the market. Sellers who are being transferred, who have financial difficulties, who are expecting a child and living in a home that is too small, or who are going through a divorce usually have to sell. While some of these situations are uncomfortable and unfortunate, they create opportunity for an agent who can help them navigate the issues to a successful conclusion.

Take time to ask questions and probe for answers in order to learn the client’s situation. Many prospects are reluctant to reveal the reasons behind their sale decision. Some feel an agent might take advantage of them – and unfortunately, in a few selected cases, they may be right. The vast majority of agents I’ve ever met, however, want to help people achieve their dreams and desires.

Following are some sample scripts that you can build upon when making initial contact with the owner of an expired listing. No matter which script you follow, remember this: Don’t get sidetracked.  Keep focused on your single objective, which is to secure an appointment with the owner.

Response to the objection that all agents are alike:

“Boy, I can sure understand where you get that impression and feeling. I know the kind of frustration you feel because I’ve felt it myself when I’ve taken over listings like yours only to find poorly written and prepared offers. Mr. and Mrs. Seller, there really is a difference in agents.  If there weren’t, we would all be doing the same level of business in terms of listings, sales, time on the market, and list-to-sale price. And we’d all have the same level of client satisfaction. Wouldn’t you agree?

So the real question is what’s the difference, right?  I would be delighted to spend just a few minutes with you to help you understand the differences. Would __________ or __________ be better for you this week?”

Response to the question: “Why are you calling me now?”

“It sure seems like a lot of people are calling, doesn’t it?  Your home’s listing came up as expired, so I am calling to see if I can be of service.  In order for me to accurately assess my ability to help, I need just a few minutes of your time and to see your home.  Would                      or                      be better for you this week?”

Response to the question: “Where were you when my home was listed?”

“That a great question and I’m sure this is a source of frustration for you right now. I can assure you that I personally take the responsibility of selling someone’s home very seriously. In many cases, my clients have entrusted their largest asset to me.

Because of that trust, I work almost exclusively to ensure their sale.  With a 98% success rate against the market average of 68%, I must be doing something right. Wouldn’t you agree?  When would be the best time for us to meet to evaluate your situation?  Would __________ or __________ be better for you?”

Expired Script

“Hi, I am looking for __________ (re-state the name).  This is __________ with __________.  Is your home still available?”

OR

“When do you plan to meet with Agents about the job of selling your home?”
                 
OR

“I noticed your home was no longer on the MLS.  I was calling to see if you still wanted to sell?”

1.  When you sell this home, where are you hoping to move to?
2.  Did you have a time frame to get there?
3.  What do you think caused your home not to sell?
4.  How did you select your previous Agent?
5.  What are your expectations of the next Agent you choose?
6.  Has anyone shared with you the real reason your home failed to sell?
7.  There are only a few reasons homes fail to sell:  exposure, changes in market competition, and price.  One you control, one the Agent controls, and one no one controls.  Which do you think it is?
8.  Let me ask you . . . do you want to know which one for sure?
9.         All we need to do is meet for fifteen to twenty minutes and take a look at your home.  Would __________ or __________ be better for you?

If you'd like step-by-step strategies & tactics for getting the listing with expireds (including over 45 Scripts & Dialogues) check out my training program "How to Create & Deliver a Dynamic Listing Presentation™"... check it out here.

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The difference between getting the listing and walking out with "We'll think it over and get back to you" is all in your listing presentation. If you walk in with Dirk’s time-tested & proven (by 1000's of Agents) listing presentation, you’ll walk out with the listing.

What would your life be like if you had all the winning scripts and dialogues to help you nail the listing presentation every time? Even better than that, what if you had the right seller handouts and scripts to help you get the listing presentation appointment?

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Dog Days of Summer - Getting You Down?

The dog days of summer are upon us.  I think that expression came from the way dogs can lounge in the summer sun.  They relax as if there isn’t a care in the world.  It’s easy for us to lounge as well.  I often see lounging in two ways:

• We lounge in our improvement of skill because we are so busy.
• We lounge in our performance because we don’t work with the focus and intensity we did earlier in the year.

Let’s look at each one of these ways.

We are too busy. We have buyers and sellers coming out of our ears or we are constantly looking for ways to find them.  We are running from morning until night.  We often are out of balance with our family because we work too many hours.  We are more focused on the business than we are on them.  We also are behind in the improvement and developing of our skills.  This focus goes out the window.

Don’t ever forget!  The property sale we make today is temporary.  The money we earn from it is gone shortly.  The client, because we fail to follow-up long-term after the close, is gone.  Statistics tell us that 80% of consumers don’t go back to their previous Agents for one simple reason.  The Agents never called them again after the sale.  The sale for most Agents is temporary, but the skill acquired through the follow-up process would be permanent.  The ability to replicate business through the long-term connection with past clients is a skill.  This skill is often never cultivated because we are too busy.  We get in the dog days of summer and forget the fundamentals of sales.  We don’t adhere to the details for building a long-term business.

The present pressure squeezes the skill of practicing our scripts and dialogues out of the way.  It’s easy to get out of the routine and never get back on track.  It’s easy to become indifferent.  We tend to be indifferent to qualifying the prospects because there are so many.  We also tend to be indifferent to getting price reductions from over-priced sellers.  We can be very indifferent to the many steps we need to insure success.  (What short cuts are you taking now that you know you shouldn’t?)  It’s easy to drift along in life.  We just go with the flow of the river, drifting down it because right now the river is fast moving.  We can drift along for a while; get out of practice and out of shape to be able to paddle hard.  The river will slow down sometime.  Are we prepared for the slowdown?  Will we have the conditioning to paddle hard, long, and fast when it does?  The truth is, we can’t drift our way to the top in peak performance.  If we talk to the most successful people they didn’t drift their way to the top!

Work intensely, then take time off.  Be intense in the game and out of the game with your down time.  I am 100% for time off.  I am sure that for years I took more time off than many Agents.  The difference was the intensity and focus when I was at work.  There was no drifting at work.  Are you 100% focused at work?  Are you completely in the game with intensity?  Think of racecar drivers.  Can they drift while in the cockpit? Drifting would cost them their life.  Do we have that kind of intensity of focus for a few hours a day?  I would submit to you if you did, the income you earn and quality of life would radically change.  There is a time to drift, but it is not at work.  We all must be in the moment.  Let me give you a few steps to help you be more in the moment.

• Establish a routine:  Show up at the same time to work daily.  Do the same activities at the same time.  Don’t just allow the day to happen. Plan for the outcome you want.  Apply yourself in your routine to create that outcome.  Dr. Norman Vincent Peale said, “Plan your work then work your plan.”   The routine you set will enable you to achieve success.  When I started in real estate, I established that at 7:00 a.m. I would begin work.  I still do that today.  It is very hard for me not to be in my office at 7:00 a.m. working with intensity.  What does your routine need to be?  When do you need to be at work?  When do you need to practice skills?  When do you need family time or workout time?  These all need to be in a routine.

• When you are not 100% focused, get there or get out.  Too often Agents are half at work and half at home.  We are at work thinking we have shorted our family.  We are at work in body only.  My advice is go home.  Go home and focus 100% on your family.  We have all been in this unfocused position.  We feel like a piece of salt-water taffy.  When they make taffy, they tug and pull it until it gets mixed and smooth.  Getting pulled between work and home accomplishes nothing.

I realized many years ago that for me, Friday was a tough day to stay focused.  I would have put in four focused days in a row.  I truly dreaded Fridays because I was maybe at 70 – 80 % effectiveness.  The difference between incredible success and mediocre performance is a couple of percentage points.  I was mediocre at best.  The choice to get out on Friday changed my mental attitude, my expectations, and the results. The year that I went from a 5 1/2 day workweek to a 4-day workweek, I had my largest increase in commission earned ever!  Get focused or get out!

Don’t let the dog days of summer affect the outcome for your year.  It’s easy to let off the gas if you got off to a great start.  Don’t coast into the finish line.  Make sure you are investing in your skills daily.

Business Vision - Is Where It All Starts

Being able to establish a business vision for your company separates you from the other agents who are in real estate.  When building a team, you must pause and work to define your business vision.  Enduring, successful people and successful companies establish their core values and core purpose.  They then remain fixed on those core values and purpose throughout their business life.  The changing elements are their business strategy and tactics due to the marketplace changes and competition influences.

Successful people and companies know that it is critically important to know who you are and what you stand for.  In many cases, knowing who you are, as a team, will be more important than where you are going.  We all will change and adapt as our world changes and adapts.  This change is inevitable.  The only part about change that is in question is whether it will be evolution or revolution.

Evolution is defined by Webster as:  A process in which something passes by degrees to a different stage (especially a more advanced or mature stage).  We want to engage in the small, gradual movement or change over a period of time.  This type of change only comes from clarity of values and purpose.  More effort, energy, and resources can be used to increase success, sales, and production in an evolutionary mode, rather than a revolutionary mode.

Revolution is defined by Webster as:  A drastic and far-reaching change in ways of thinking and behaving.  The change in revolution is more violent, sudden, and potentially damaging.  The vast majority of resources will be used to keep up with the revolution at hand or trying to get out of the revolutionary process.  The stress level is significantly higher, and the probability of success is much lower in revolution.  By having well-defined core values and core purpose, you can avoid the forces of revolution more effectively.

There has been a prevailing thought for sometime on the value of mission statements.  The thought is that you have to build a mission statement for your team.  When I ask many experts why they have that view, their answers are less than stellar:  “Because good companies have them”; “You just do”; “Your people need something to guide them.”  There are a host of others that I have heard regularly.

I have personally coached hundreds of the most successful agents in the last almost ten years.  I always ask if they have a mission statement.  When they say “oh yes”, I ask them what it is.  The phone always goes dead silent.  Then you have this rustling of papers as they try to find the document that has their mission statement on it.  Once they can’t find it, they try to recite from memory some garbled version of it.

I personally feel that mission statements have little value, and we should abolish their use.  Most small business owners’ (like real estate agents) mission statements are treated as something you have to have or do, but you don’t know why you have to have it or do it.  The most common practice of building a mission statement for small business owners is to scalp what they like from a large company, like Nordstrom if you have a service mentality or Nike if you like competition or Wal-Mart if you want to serve the ordinary or disadvantaged consumer.

We aren’t building it from within our own views, tenets, and principles of excellence in life and business.  For most, we are building the mission statement based on what sounds good, looks good on a brochure or marketing piece, or is made up of the components that another successful company articulates in their mission statement.  My best advice is to scrap the whole exercise and start focusing on what you stand for.

What do you stand for?

We can’t look for what we stand for in others.  We have to discover it in ourselves.  It is not outside in the world around you; it is in your inner world, in your mind and heart.  In order for what you stand for to be authentic, you have to search for it.  You aren’t asking yourself what you should stand for; you are asking yourself what you passionately stand for.

Let me share with you an example of what I mean.  At Real Estate Champions, we stand for hard work and continuous self-improvement.  We believe passionately that the quest of self-improvement, both personally and professionally, is one of the noblest callings in life.  I personally toil long hours weekly in the quest of self-improvement and building tools, training systems, scripts, materials, strategies, tactics, theories, coaching – the list is endless.  I spend additional hours reading, writing, praying, and listening to CDs to keep my personal development in high gear.  I have other people on my team, as well, who contribute to this effort.

There is no one in the real estate field who has produced more quality systems, tools, strategies, skill improvement, and business master systems in the last ten years than we have at Real Estate Champions.  You can pick any name, speaker, trainer, or coach, and most are still selling the same material they were ten years ago!  We have six distinctly different coaching programs, over fifty different training programs and audio CDs, DVD training, internet subscription-based training, five books written on sales success with four of them out in the last eighteen months.  We don’t do it because it’s good business; we create new intellectual property and deliver it in many different ways because it’s what we stand for.  It is born out of my personal core values and beliefs.

We passionately believe that we need to engage in our own journey of personal self-improvement to impact the world.  Once we take on that challenge, we will be able to impact the world around us.

If you'd like more information on how you can build your own real estate team, get your free copy of "The Champion Real Estate Team™ Guide"... here.

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