In This Issue...
Words of a Champion
Dirk Zeller
CEO
We are at a milestone of reflection in 2009. The first quarter is now behind us. How did we do? Are we on track? Most importantly, have we built momentum?
Momentum is created though activity and attitude. The activity to do daily what we should. The attitude that we will do it or else, or we will do it until. Doing things until it gives you power. I will practice this objection “Will you cut your commission?” until I get it right. I will prospect until I get to 10 contacts or one appointment or what ever “until” your set.
Here is my caution. You have to create the right attitude mentally or the “until” won’t matter. You first process a positive, expecting attitude. We are here beside you all the way. If you are struggling with your attitude call us. We are here to help you through the peaks and the valleys. To help you build your attitude so you can achieve your goals in life. Success is attitude based.
To Your Success,
Dirk Zeller, CEO
RealEstateChampions.com
P.S. If you're ready to convert more buyers, sell more of your listing inventory, lower your frustrations, increase your confidence, and ultimately increase your income in today's changing markets when other Agents are struggling, it's time you find out how...
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Qualifying the Buyer
We invest large amounts of time with buyers. There is nothing more frustrating than spending a lot of time with buyers and than never getting paid for our efforts. The key component to successfully working with buyers is the qualifying process. Qualifying is the lost art of the sales process. Sometimes we get so excited that we have a lead that we fail to determine its value. That is why the process of qualifying is focused on determining the value of leads.
To really have effectiveness in qualifying we must develop a series of questions. This series of questions, or script, has to be used every time. Every buyer must be evaluated on his response to these questions. Some examples of questions are:
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How long have you been looking? If he has been looking for six months the motivation to buy is probably not very high.
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Do you need to sell a home before you can buy? Whoever gets the listing will get the sale as well.
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Have you met with a lender? Understand that the lender is viewed by the consumer as a consultant. You are viewed as someone who wants to sell him something. The barrier of entry is lower for the lender.
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Are you committed to another Agent? My philosophy was always to lay the cards on the table. If you are working with someone else, then good luck to you. I don’t need to invest my time and not get paid.
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How soon do you want to be in your new home? This question will tell you the buyer’s motivation. Time frame and motivation are linked together. The longer the time frame the lower the motivation.
Determining the time frame and motivation are critical to earning a paycheck now. If a buyer doesn’t want to move for six months, then realize that your commission check is also at least six months away. How many prospects can you afford to work with where your commission is six months away? How much time can you invest in someone who will pay you six months to a year from now, or never?
The best way to qualify people is to ask for an appointment. In one question you can separate the motivated ones from the unmotivated. The people who are unmotivated will fight not to meet with you. This appointment should be at your office. Do not set the appointment to look at a property. Set the appointment for your office where you have control. The prospect knows that you are serious about creating a relationship and helping him. If he doesn’t want to or is not ready he will avoid the appointment. Here is a good script for this appointment, which I call the buyer interview.
“____________________ in order for me to provide the highest level of service to you and all my clients, we set up a meeting previous to showing the properties. Would ______________ or ______________ be better for you?” You want the script to be simple, straightforward, and to the point. If you know these buyers are committed, you will be able to provide a higher level of service.”
Make sure that you qualify everyone you work with before you invest your time. Time is your most precious asset. Don’t invest it where it doesn’t bring you a return. I guarantee that if you took the time you waste with unmotivated people and invest it at home with your family the return would be like no other.
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The Public's Perception of Real Estate Agents
We are paid too much.
The public sees Agents driving fancy cars and often living in better homes than they do. They see the outward appearance of wealth in fancy cars, fancy clothes, and a nice home. What they fail to realize is that most Agents are living beyond their means to achieve this outward successful appearance.
The consumer doesn’t understand the essential risk/reward connection in real estate sales. This is a profession without base salary, car allowance, health insurance, or retirement plan – a profession without a guaranteed income of any kind.
The work is easy.
Too many consumers perceive that we pound a sign in the ground and wait for it to sell. Much of the work we do, as Real Estate Agents, is behind the scenes. It isn’t recognized or seen as work. The perception is that we plant the sign in the ground and wait for a commission check. I am not sure we will ever be able to fully change this perception because the consumer will never see the behind the scenes work a good Agent does.
It’s almost as if we are the stage manager in a Broadway production. The actors and orchestra conductor receive the applause and accolades from the audience. They get to take their bows and recognition. You never see the director or stage manager get a round of applause. The show would not go on without them, but they gain little recognition for their important role.
We are not professional.
Their view is we haven’t received an advanced degree – almost anyone can acquire a real estate license. There is some truth to the view that anyone can get a license. Becoming a licensed Agent doesn’t mean you will be a good Agent. It certainly doesn’t mean that you will be a Champion Agent.
Everyone also knows an Agent they don’t respect. They might have done business with them in the past and were dissatisfied. Maybe they have a close relative, high school buddy, or family friend they think is a moron who is an Agent. The basic philosophy is, if so and so is an Agent, they must all be just like him. It is amazing how quickly people can come to that conclusion.
As Real Estate Professionals, we are in a “show me” business. That’s what sales is about . . . especially full commission sales. We have to demonstrate to our prospects and clients that we add value and are worth our fee. I know there is a large percentage of you who just cringed or had a negative reaction move through your body when I called us salespeople. Too many Agents don’t like to be “labeled” as salespeople. A Champion Agent is proud that he is a salesperson. Honestly, I grow weary of Agents telling me that they are Marketing Experts, Service Consultants, Client Care Consultants, and on and on. We create all these fancy, fictitious titles to make us feel better, so we don’t have to call ourselves what we are . . . salespeople!
You work in a sales-based business. Be proud of your sales heritage. Your ability to acknowledge and enhance a sales philosophy to attract and convert prospects into clients will determine your income.
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Why Should I Hire You?
“Why should I hire you?” This is the fundamental question faced by every Agent, every day, and by every person they meet. Why should I do business with you over the hundreds, or even thousands, of Agents I could choose? What makes you different from someone else I could select who might be cheaper? In order to not only survive but also thrive in the competitive world of real estate sales, we have to be able to answer the basic question for consumers, “Why should I hire you?”
WII FM Radio
Everyone in life, especially those we do business with, is tuned into WII FM Radio twenty-four hours a day, seven days a week. WII FM Radio stands for, “What’s in it for me?” One of the more significant mistakes that sales people make is not being tuned into their client’s frequency channel. We are constantly selling with a narrow minded, self-egotistical, and grandstanding focus. All of our sales presentations and services need to be turned to the benefits for our clients. Our prospect can have the extreme attitude of “So what? Who cares? What’s in it for me?” Our job is to show them what’s in it for them.
What they really want from you
To be a Champion Agent, you need to know what the prospect, customer, or client wants. What services do they want you to provide? What standard or measure are they going to use to determine if they have received good service and good, or even great, value? What are their ultimate goals and objections that you will be helping them achieve? If everything could be perfect what would that look like for them?
These are the types of questions and information we need to be able to formulate and service strategically to exceed their expectations. It also clearly uncovers when we have hit their “hot buttons” in selling them our services. It’s much easier to sell to someone what he or she wants to buy than what you want to sell him or her.
The consumer’s mindset
Consumers in most markets have a unique mindset about Real Estate Agents. At times, the mindset is market driven. When everything is selling quickly, many consumers don’t feel they need an Agent. Their view is they can “save” the fee by selling For Sale By Owner. Another view is that it will sell easily, so why pay an Agent a full fee to generate the sale?
When the market is more challenging, consumers begin to see our value as professionals. We move beyond the necessary evil in a real estate transaction. We can hold the key to unlock the door of their wants and dreams. We always had that key, even in a robust market. It’s our duty, as professionals, to inform them of our value and the reasons why they should hire us.
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