In the Zone | VIII i10 | Devil-May-Care Attitude=Negotiating Success

In the Zone

Volume III Issue 10

  1. What Successful REALTORS(R) Are Saying
  2. Motivational Quote of the Month
  3. Prospecting: Caution--Going on Vacation Can be Dangerous to Your Health
  4. Negotiating: How a Devil-May-Care Attitude Might Help You Negotiate Successfully. (If the North Vietnamese did it, so can you.)
  5. Listing: 3 Very Nice Ways to Counter Sellers Objections
  6. Selling: The Pirate Objection: If You Don't Defend Against It, You
    Will Wake Up the Next Morning...and Your Prospects Will Be Gone

Hey,

Forget the "latte factor."

I mean, most people's ideas of getting rich is pinching pennies, skipping the latte, bowing to 401ks and compound interest.

That's not a bad plan. If you have forty years to do it.

I know I don't.

Unless you are 12, there's a good chance you don't either. And do you really want to wait that long?

I know I don't.

Besides, I like my lattes. Which means if I want to keep sipping them, I got to make an extra $4/day.

But why not make an extra $400?

What about you? What would you like to keep doing...and not give up?

Are you living and working so that you are making more money...and don't have to eat Mac & Cheese to make ends meet?

Are you churning out profit even while on vacations? (Don't believe it can be done? See the Prospecting article.)

Are you profiting from what you know about the other party's deadlines... while keeping your own deadline close to the chest? If you are, you're payoff will only grow. Guaranteed. See the Negotiating article...

Are your negotiating skills honed to a lethal perfection? If so, objections will never bleed you of money again. Our Negotiation article will sharpen your skills...

And are you helpless when a prospect says this 4-word sentence? If so, you have to read this short reply in the Selling article. It will give you the astonishing power to close almost any deal.

Done right, real estate is an almost bulletproof way of dramatically increasing your income. There are not many jobs that offer you the salary of a surgeon...without the education.

But if you've found this not to be true, ask yourself: am I focusing on the right activities? the money-making activities?

If you're not, start today. You'll be pleasantly surprised to see how a little shift in your thinking can help you become the millionaire you always dreamed of becoming.

Enjoy 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.

Find past issues of ITZ here.

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1. What Successful REALTORS(r) Are Saying

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"Since 4/15 I have closed 20 sides, I have 6 in escrow with another 5 buyers under contract and 4 listings. I am on track for 50, even with a slow down in the season...

"This is the Cruise missal in my arsenal and it does not let me down with it's pinpoint accuracy."

John Occhi
Temecula Valley

If you want to learn more about how John Occhi shifted his new career into overdrive rapidly, then read our 23-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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"If you can count your money, you don't have a billion dollars."

J. Paul Getty
American Industrialist
Founder Getty Oil

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3. PROSPECTING: Caution: Going on Vacation Can be Dangerous to Your Health

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You heard me right...

Going on vacation can be dangerous to your health.

That is, if you intend to work while on vacation.

Your spouse may murder you. Your children may disown you.

You want to go on vacation. But maybe the thought of not working, not generating business, not collecting a check...is scary.

If that's you, do this...

Identify a number of your past clients who are in the market to buy a second home. (How? Call or email them several weeks before leaving. Get them thinking about buying a second home.)

Meet with them before you leave for vacation. Tell them that you will keep an eye out for properties in the area that you will be vacationing, and maybe inspect a few. Act as their spy for this new area.

Some clients may be very interested in buying a second home. If so, you could collect a referral fee from the agent who finally does sell them a home in the area you going to vacation in.

Who knows? You may even convince them to sell their first home.

And the cool thing is...you can position this search to your family as a "Tour of the Rich, Famous and Middle Class." View a couple of spectacular homes and a handful of reasonable homes.

One warning though...make sure you don't spend all of your time searching for homes.

I'm sure you'll want to come back married...and alive.

Next Month: 7 Almost-Trouble Free Ways to Double (even quadruple!) Your Profits through Prospecting

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4. NEGOTIATING: How a Devil-May-Care Attitude Might Help You Negotiate Successfully. (If the North Vietnamese did it, so can you.)

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Do you remember what the Vietnamese did when the U.S. tried to pull out of the war?

Both countries agreed to hold peace talks in Paris.

The U.S. representative rented a room on a week-to-week basis.

What did the Vietnamese do?

They rented a villa outside of Paris...with a two-and-a-half year lease.

Do you think that their attitude about time had an impact on the outcome?

You bet it did.

Combined with their relentless disputes over the shape and size of the bargaining table, their attitude about time created enormous frustration and pressure for the U.S.

No one involved in those peace talks believes that the war was resolved successfully. At least not to the U.S.'s satisfaction.

In your own negotiations, learn not to announce deadlines unnecessary, coach your clients to do the same.

Always relax. Appear poised, calm. Give off an air that you have all the time in the world. This will drive people who are impatient to unnecessarily give up position and negotiating power. This will also help you stay in control.

And controlling negotiations is the key to getting what you want. Just ask the Vietnamese.

Next Month: Why It's Absolutely Necessary to Congratulate the Other Side--Even If You Hate the Thought of Talking to the Other Agent! (Ignore this law, and you could really suffer.)

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5. LISTING: 3 Very Nice Ways to Counter Seller's Objections

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First, always talk through objections.

Get them out on the table. You want to create a situation where you are moving the relationship forward...not in head-to-head combat.

Always say, "I can tell that this concerns you. Can we talk about it?"

Two, ask what more they need to know to decide.

If a seller says, "I'll think it over", use the tactic described below, in the Selling article, to get to the bottom of the issue. "I'll think it over," in most cases, is a cover up for another issue. Get to the bottom of it.

Finally, agree to disagree. If sellers insist on a price that is higher than you think is reasonable, don't continue to argue.

Say, "I'm certainly willing to try my best to sell your home at that price. But I want you to agree that you will be willing to reconsider the price if the home doesn't sell in 30 days."

Most importantly, remain objective throughout listing interviews. Also, if someone says they are going to list with a friend, remind them that it is typically difficult for friends to remain objective. Sometimes that can be deadly to closing deals.

Next Month: Simple Do-It-Yourself Way to Gross $250,000 a Year (Funny thing is, only 1 in 1,000 of you will actually do this.)

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6. SELLING: The Pirate Objection: If You Don't Defend Against It, You Will Wake Up the Next Morning...and Your Prospects Will Be Gone

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Your prospect says, "I want to think about it."

What do you do?

If you let them think about it, like a pirate who comes from the sea, this objection will sweep your sweet prospect away from you.

Say this instead:

You: Great! Thinking about it must mean that you are interested in the home, right?

Prospect: Sure. Right.

You: You're not saying "No" because you want to get rid of me, are you?

Prospect: Oh, God no.

You: You know, Mr. Buyer, this is a very important decision. Buying a house is serious. Something you do two, three, maybe four times in your lifetime. Besides your spouse here, is there anyone else who you will be thinking over this house with?

Prospect: No, just us.

You: Great. Now since I'm an expert in buying and selling houses, what do you say if you and I and your spouse sit down and think it over together? This makes sense because as you develop questions about this home, I'll be right here to answer them for you. Now, what was the main thing your wanted to think about?

Next Month: How to Walk Away with the Listing, Instantly...Even If the Sellers Want to Interview Other Agents

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Proquest Technologies, Inc.
inthezone@proquest-tech.com
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.