In the Zone | V I i 5 | Focusing on the 4 Profit Pillars of Real Estate
Volume 1 Issue 5
1. What Successful REALTORS® Are Saying
2. Motivational Quote of the Month
3. Prospecting: Ten Power-Packed Prospecting Pointers
4. Negotiating: What world-class negotiators know about closing
the sale...on their terms. (Critical stuff.)
5. Listing: The two most common closing myths...and how to avoid
getting burned by them.
6. Selling: How to sell your listings faster...at or near the
asking price
Hey,
Someone once said, "A smart man learns from his experience...
a wise man learns from the experience of others."
While experience has it's place, benefiting from the experience
of others will quickly lower the learning curve and help us to
become faster, smarter and wealthier in less time. It's
like standing on the shoulders of giants.
With this in mind, I weaved a small theme of experience and
authority into this month's "Four Pillars". And as you will see,
each pillar draws from the experience or authority of someone in
the field...so that you can learn from them.
For instance, world-class negotiators routinely operate from the
mindset I've described in this month's negotiation pillar...and
they'll be the first to tell you that this technique was what
took them from average and ordinary to super-successful.
And in this month's listing pillar, straight from the mouth of
a leading authority in the field, I've discovered something
that leads to closing the listing quickly and easily and never,
ever having to reduce fees! It's an extremely persuasive piece
that shouldn't be missed.
Enjoy this issue and here’s to your success,
Gary Elwood
Proquest Technologies
1-800-959-3959
Send prospecting, negotiating, listing or selling ideas,
strategies and tips to inthezone@proquest-tech.com.
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1. What Successful REALTORS® Are Saying
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"I went from having two listings to 23 and picking up 72 active,
able buyers in 30 days!"
Steve Johnston
Bountiful, UT
If you want to learn the secret behind Steve's success, then
read our 24-page online report "How to Close More Transactions
in a Month Than You Now Close All Year":
http://www.realestategrowth.com/how_to_grow.asp
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2. Motivational Quote of the Month
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"Make no small plans for they have not the power to stir men’s
blood."
Niccolo Machiaveli
Italian Statesmen and
Political Philosopher,
1469-1527
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3. PROSPECTING: Ten Power-Packed Prospecting Pointers
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We’ve tested a lot of ideas for prospecting with leading agents in the field. These ten are our gems, collected over the last 8 years.
Although you may be a polished prospector, you’ll probably find several of these pointers useful. In fact, I'll bet my paycheck on it.
1. Focus on quantity: Leads are the lifeblood of your sales career. You can never have enough of them.
2. Focus on consistency: a steady supply of qualified leads can help you avoid slumps and plateaus.
3. Focus on quality: when you have a steady flow of leads, your objective is to disqualify quickly, skillfully and professionally.
4. Do it now: don't procrastinate. Contact those leads you’ve generated by call capture immediately. It's the fastest single way to boost your sales and listings.
5. Treat prospecting with respect: avoid time wasting through sloppy or hap hazardous prospecting.
6. Remain alert for "suspects": cultivate relationships with everyone who can give you leads or open doors for you.
7. Squeeze referrals out of clients: make it your policy to always secure at least 5 referrals from satisfied customers.
8. Stay in contact with leads: you never know when your prospect’s motivation to buy or list will suddenly change.
9. Develop phone manners: learn to use the phone in a professional, pleasant manner. Then use it regularly.
10. Secure referrals from "suspects": or better yet, get them to make contact for you.
The key is to remain on your toes at all times: stay alert, focused and deliberate, and you'll easily see the steady stream of leads right in front of you.
Next Month: Why targeted repetition – even to the point of obnoxiousness – works so well.
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4. NEGOTIATING: What world class negotiators know about closing the sale...on their terms. (Critical stuff.)
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In a negotiation, it is important to be able to distinguish between a person’s position and their interest. If you don’t, then you could end up with a less-than-satisfying bargain you really didn’t want.
Positional negotiators place their demands on the table and expect the folks on the other side of the table to respond by saying ‘yes’ or ‘no’.
On the other hand, interest-based negotiators try to learn what interests the other party. Then they will use that information to satisfy their own interests, as well as the other party’s.
For example, a positional agent might ask a FSBO, "Listen, I can sell your house 90 days faster than you probably could, would you let me do that for you?"
But if the FSBO has plenty of time and his main interest is saving the commission, he’ll dig his heels in and resist him.
However, the interest-based agent would ask questions. He would hunt for that hot button that will show him why the seller is going FSBO. And when he finds it and neutralizes it, he ends up with a win-win deal.
By the way: if you ask enough questions, just about anybody will tell you their hot buttons. It’s just a matter of listening and asking questions.
Next Month: Why having a bag of sneaky tricks pales next to this super-charged negotiating strategy.
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5. LISTING: The two most common closing myths...and how to avoid getting burned by them.
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The only thing certain with real estate is that it changes. The industry turns over more than half of it's new members every year, legislation churns out industry-transforming laws and people's habits evolve.
This last one is important: a century ago, people responded to the hard sell pressure. There wasn't much consumer choice, so the benefits of what was being sold eclipsed the pressure. But today, people are sensitive to messages and pitches that are softer, sophisticated and consumer-centered...and their likely to ignore or reject you if you push them too hard.
With that said, here are two myths that are lingering in the air and creating confusion for the rookie and veteran alike.
Myth 1 - If they don’t say ‘yes’ now, your job is to find out why, solve the problem and close.
Instead of bringing out the big guns and trying to pressure a close, this is a great time to regroup and ask more questions.
If you had thought everything was in line for them to make a decision and they aren’t ready, you have obviously missed something.
Plus, if a person who takes a long time to make a decision tells you they want to "think about it" and you don't give them a little space to do that - they will probably never do business with you.
But let me warn you: don't give them too much space. Five or ten minutes should be plenty. Never let them sleep on it. It maybe the last time you ever see them.
Myth 2 - Asking for the order is being pushy or manipulative. Whether you are working with a buyer whose been renting for the last 8 years or a seller who lost their job, it is usually in their best interest to make a decision to move forward...and it’s your job to help them do that. Follow these steps:
+++ Summarize the facts and ask them if they are ready
+++ Paint a picture of the rewards they will experience when they move forward
+++ Remind them of the pain they will experience if they consider not doing anything
+++ Ask them what it will take for them to move forward and then honor their needs.
It’s easy for the prospect to say "yes" to you, if... you’ve earned their trust, discovered their fears and built up their confidence that you have the solution to their problem. If this is the case, you don’t need manipulation or fancy objection handlers: all you need to do is simply ask for the order.
Next Month: A critical presentation lesson I learned while trying to persuade a world-class salesperson. (Hint: I lost.)
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6. SELLING: How to sell your listings faster...at or near the asking price.
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According to Laurie Bradley-Lang of Savvy Staging, "The first minute or two that a buyer walks into a home is when they determine whether they can live there or not."
If that’s the case, shouldn’t you try to stage the home in the best possible way? Here are 13 simple and inexpensive tips to spruce up any home within minutes.
1. Put in a new "Welcome" mat
2. Add mulch to the flower beds and shrubs
3. Clear foyers of any clutter of furniture. Clean light fixtures and scrub floors.
4. Put away all collections (figurines, fragile items, religious, political or sports paraphernalia)
5. Remove all crowed furniture from living room; open space is best
6. Cover dining room table with white cloth and top with fresh flowers
7. Remove all magnets and pictures from refrigerator
8. Stow all small appliances under cabinets to free up space
9. Spruce up old tile bathrooms with white towels, window treatments and scatter rugs
10. Remove bulkier furniture from bedrooms and they will appear larger
11. Organize closets so they appear roomy
12. Remove stains from garage floor
13. Make sure all outdoor furniture is clean, orderly and not excessive.
The old saying, "you never have a second chance to make a good impression," applies not only to people, but also to homes. With a little cleanliness, clutter-free and color, you can entice buyers to say to themselves, "I’ve always wanted to live like this," Which will sell a home a whole lot faster than you might think.
Next month: There are billions of personality types. Want to sell them all? You can, with five easy words.
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Proquest Technologies, Inc.
19 Emerald Terrace
Swansea, IL 62226
1-800-959-3959
In the Zone: Focusing on the 4 Profit Pillars of Real Estate
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“In the Zone” is a Proquest Technologies publication.
(C) Copyright 2005. Proquest Technologies.
