In This Issue...
Words of a Champion
Dirk Zeller
CEO
Are you playing the waiting game? How are you weathering the changes that are happening across the nation right now?
A key characteristic of every Real Estate Champion . . . they don’t wait to have things happen and then react to them. Conversely, they are proactive and make them happen. It’s really about implementation or execution. It is the single biggest problem I see with my coaching clients.
Here’s a simple, four-step plan for drastic, life-changing action:
- Close yourself off from the distractions of life for 10 minutes
- Decide what it is you INTEND to do
- Come up with the simple steps to accomplish it
- And then do them (Check them off one at a time)
Finally, I want to leave you today with the thought that you can MAKE it a great day.
Is it easy? No!!
The future holds the opportunity for great success or failure depending on three things: 1) Your Desire to Succeed, 2) Your Preparation, 3) YOUR Execution (Or Your Actions)
So, if you aren’t already, get serious now about YOUR success; go out and MAKE it a great day. And if you are a successful Agent that has always wanted an opportunity to teach and impact others’ lives, to be able to watch firsthand people grow to their full potential, there is an action you can take today outlined in further detail below.
I’ll check in with you again in a week, so get busy, my Friend!
To Your Success,
Dirk Zeller, CEO
RealEstateChampions.com
P.S. Despite the so-called “economic downturn” & “soft” Real Estate Market, Real Estate Champions is expanding! Agents and Brokers need great coaches now more than ever! We offer a package that includes the opportunity to earn $100K+ in your first year as a coach! In addition, we give you phenomenal support, systems, and training. Interested candidates should send a resume to HeadCoach@RealEstateChampions.com. Only serious, entrepreneurial-minded candidates willing to make a nominal up-front investment, and who have full-time availability need apply!
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Conveying Your Competitive Advantage In Prospect Presentations
Let’s start with the bottom line first: The whole purpose of a prospect presentation is to establish your competitive advantage. In the least time possible you want to communicate what makes you different from the more than 1.2 million other licensed Realtors in the United States. You want your prospects to see exactly why they should hire you, what’s in it for them, and why they should proceed with confidence to sign your listing agreement.
Most agents spend the presentation explaining what they will do for the client rather than focusing on the results the client can expect the agent to deliver. Newspaper ads, website pages, home magazines, dazzling flyers, and a lineup of other marketing items are tactics that, in truth, nearly all agents use in the normal course of business. They are not competitive advantages. In fact, you must assume before a listing presentation that every agent will promise a near-identical marketing plan.
So why will they hire you over the others? They’ll hire you because they see what’s in it for them. And what’s in it for them is the set of benefits they will receive as a result of your proven competitive position.
Defining your unique competitive position
To differentiate yourself in the field of real estate sales you need to create, define, and consistently convey a competitive position that positively distinguishes you from your competition.
By knowing and exploiting the difference between your products and services and those of your competitors you will attract more prospects, win more clients, grow your market share, increase your revenue, expand your profits, and, eventually, weaken your competitors.
To pinpoint your unique competitive position, answer these questions:
Your answers don’t need to lead to 20 unique competitive positions. You only need half a dozen reasons why the consumer – whether you’re presenting to a buyer or a seller – should choose over everyone else. Focus only on advantages that will matter to your prospect. Keep in mind the old sales adage: “It’s easier to sell someone what they want to buy than what you have to sell them.
Proving your excellence: You don’t get paid for second place
A Fortune 500 CEO who doesn’t increase revenue will watch the stock price plummet. A quarterback who throws for lots of yards but doesn’t win games will be benched or traded. A Realtor who doesn’t get listings sold or find and secure the right home for buyers will leave the business.
In the real estate world, results are the name of the game. Anyone can make money in a marketplace where everyone wants to buy and sell, but only the excellent agents will thrive in a competitive marketplace.
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Customizing Your Customer Service Messages
From an early age, every child learns the Golden Rule: Treat others the way you want to be treated. Customer service pros replace the Golden Rule with the Platinum Rule: Treat others the way they wish to be treated.
The Platinum Rule was coined by speaker/trainer Tony Alessandra, who explains that a salesperson’s job is not to treat and serve clients as you want to be treated but as they want to be treated.
The only way to know how a person wants to be treated is to ask and observe. Different kinds of customers have different values and service expectations. A one-time transaction client expects a different level of attention than is expected by a long-time relationship client. A busy executive expects more efficiency than is expected or even desired by a person with a fairly empty calendar.
By discovering and recognizing a person’s communication style, decision-making style, and expectations, you can supercharge your business.
The difference between unique and one-size-fits-all communications
The difference between junk mail and personal mail boils down to a single question: Is the message targeted and tailored to the interests of the recipient, or could it just as easily be sent out with an address label that reads “occupant”.
The more you segment your database, the better you’ll be able to customize the messages you send. Prospects, clients, and those in your sphere have different information needs. Likewise, those with various interests will respond to different kinds of messages.
Segment your mailing list by the nature of your relationship with the contact and also by the recipients’ lifestyle facts such as children or no children, age group, special interests, and spiritual faith, to name a few categories. Then, with a few keystrokes, you can pull up address lists of people with shared interests and information needs. You can send a great article on golf to all the golfing enthusiasts in your database. You can send an invitation to a family-oriented event to all prospects with children. You can be sure every mailer that leaves your office conveys the fact that you know and care enough about the recipient’s interests to send appropriately tailored information
Dealing with one-time or transactional clients
A transactional client isn’t looking for a long-term relationship with a business or service provider. Transactional clients simply want to complete a deal. They’re eye is on the bottom line, and their decisions are based on dollars and sense. When the real estate marketplace is robust, expect to encounter a good many transactional clients.
In his book, Re-thinking the Sales Force, Neil Rackham outlines the key characteristics of transactional clients:
- Transactional clients view service as standard and readily substitutable.
- The transactional buyer’s primary concerns are the price and ease of acquisition.
- The timing of a transactional purchase is triggered by a specific event, rather than by a whim.
- The key nature of the relationship is cost-based, and the relationship can be contractual.
In serving transactional clients, you need to ask yourself whether or not you can turn enough of a profit off this single transaction to make the effort worthwhile, because the chance of repeat business is slim. You might, by your stellar service, turn a transactional client into a relationship client, but the odds are long. This kind of buyer is primarily motivated by the cost of your service. If the numbers don’t fly, the level of your relationship won’t matter.
Dealing with long-time or relationship clients
Relationship clients are clients who give you the opportunity to serve them on a repeated basis. Unlike transactional clients, relationship clients view their contact with you as part of an ongoing relationship. Unlike their transactional brethren, relationship clients expect to do business with you again. You can also expect referrals to their friends.
When dealing with relationship clients, be aware of what matters most:
- They are focused on how your characteristics are different from others and how your services are customized and unique. They want the benefits that you provide to help them solve their problem.
- The price of your service is not their highest concern. The solution you provide carries equal or more weight than the cost.
- They are willing to consider price and performance trade offs to arrive at a lower risk, higher probability outcome.
- They respond favorably to the service and communication aspects of your business.
- They expect and require a high level of customer service.
- They have a cooperative attitude and want to work together with you toward a common goal.
You can wish all you want, but the truth is not all clients fit into the relationship client category. You’ll meet agent trainers who tell you to work only with people in this category, but I think that you’d be foolish to limit your business so significantly.
If you place your service emphasis on buyer clients, odds are good that you can win a preponderance of relationship clients. But, if you’re a listings agent who works primarily with sellers, get ready to deal with a good many transactional clients. The difference: Sellers pay the fees to real estate agents, so they’re more focused on the price than the service. Stay in the business long enough, and you’ll watch relationship-oriented buyer clients adopt the traits of transactional clients. As your buyer clients become sellers, their purchasing traits shift, too.
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Decide To Be A Champion
To achieve anything great in life, you must first decide to achieve it. You must decide that you are going to play at the Championship level. You can’t decide you will try to do it. You have to decide that you will do it. I regularly get the pleasure of meeting Agents all over the country through speaking engagements. After every speech, I get the honor of people coming up to me to share with me how I inspired or helped them. Many times, I get to talk with excited Agents who want to share their goals with me. I will often ask Agents in those moments what their income or unit goal for the year is. Better than 60% of the time they start their next sentence with, “I would like to make.” When I hear that I stop them in their tracks. The truth is they have not decided yet. Something we would like is not something we have decided to do or made an absolute commitment to get. We haven’t made the decision to lay it on the line to get it, to play all out and practice to improve the odds to acquire it.
Nearly as concerning is, another 20% to 30% who say that their income goal is a range like $200,000 to $250,000 for the year. These people are hedging their goal, which isn’t a firm goal because it isn’t defined and committed to. If you have income range goals, you might as well consciously accept the lower number because it’s acceptable to you anyway right now. Don’t fool yourself with thinking you will achieve $250,000 in income when $200,000 is acceptable. You won’t push yourself to the extra effort needed to earn the $50,000. The first step to becoming a Champion is to decide to be a Champion. This is true for every facet of your life. If you want to be a Champion dad, wife, husband, or mom you have to decide to be it first.
When I established Real Estate Champions, I set a bold goal for the company to focus on creating Champion Performers. It wasn’t to help people become proficient enough to earn an income in real estate sales. It wasn’t helping people become top producers, but Champion Producers. My personal and company mission is “To teach and inspire people to use their God given talents to create excellence in life”; to rise to the Champion level in business and life.
"WANTED! A Few GREAT Coaches..."
Despite the so-called “economic downturn” & “soft” Real Estate Market, Real Estate Champions is expanding! Agents and Brokers need great coaches now more than ever! We offer a package that includes the opportunity to earn $100K+ in your first year as a coach! In addition, we give you phenomenal support, systems, and training. Interested candidates should send a resume to HeadCoach@RealEstateChampions.com. Only serious, entrepreneurial-minded candidates willing to make a nominal up-front investment, and who have full-time availability need apply!
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