In the Zone | V III i 7 | 4 Mistakes That Kill Appointments
In the Zone | Focusing on the 4 Profit Pillars of Real Estate
Volume III Issue 7
1. What Successful REALTORS(R) Are Saying
2. Motivational Quote of the Month
3. Prospecting: Leaving Voicemails - 4 Deadly Mistakes That Kill
Appointments
4. Negotiating: How to Slam a Deal Shut When the Ego of the Other
Party Stands in the Way
5. Listing: Why So Many Agents Fall Down Before the God of
Commission Cutting
6. Selling: The Key to Unlocking Any Stalled Talks...and the
Profit Tied-Up in Them
Hey,
Imagine a lifetime's worth of real estate wisdom boiled down
to a handy pocket-sized guide.
Top producers swear by it--but it's not for sale.
Lucky for you, each month we distill the best parts into
easily digestible articles. That's what In The Zone is all about.
Included in this issue are four feet-on-the-ground tips to put
your practice on a solid footing while delivering profit growth
for the months to come.
Sound interesting? Read on.
Have you ever called prospects, reached their voicemail and
wondered if you should leave a message or not? If you have,
then you're not alone. There are certain times when it's a
serious mistake to leave one. Find out the definite times when
you SHOULDN'T leave a message in our "Prospecting" article.
Tip negotiations in your favor easily with these simple and
harmless concessions...even if you are dealing with someone who
has an ego the size of the Texas sky.
"Commission cutting" and "discounters" are the industry's new
buzzwords...but they grate against your ears like a chainsaw.
In our Listing article learn how to stand firm against commission
cutting while everyone else around you is bowing down to it.
And finally, discover how the connection between lawyers and role
playing can unlock any stalled talks...and elevate your
probability of closing the deal five-fold. If you can listen,
then this strategy will be a piece of cake.
Enjoy and here's to your success,
Gary Elwood
Proquest Technologies
1-800-959-3959
P.S. Visit our new FSBO Strategy Report online and discover
9 clever ideas on how to list more FSBOs...straight from
industry giants like Joan Pate and Ron Quintero.
Click here:
http://www.realestategrowth.com/fsbo/fsbo_intro.asp
(If link is broke, copy and paste into your browser.)
Send prospecting, negotiating, listing or selling ideas,
strategies and tips to inthezone@proquest-tech.com.
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1. What Successful REALTORS(r) Are Saying
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"I have been using Proquest 800 call capture system offering a
free information phone number advertised in a local home
magazine for over 4 years...
"20% or more of the callers contact me while listening to the
ads...
"It’s beginning to look like I may exceed my $4 million in
sales goal for 2005.
"Thanks, Proquest for a great marketing tool and sales tips."
James Walden
Austin, TX
If you want to learn more about how James Walden took the leap
to the next level in his career, then read our 21-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
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
2. Motivational Quote of the Month
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"There is no scarcity of opportunity to make a living at
what you love to do...there is only scarcity of resolve
to make it happen."
Wayne Dyer
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
3. PROSPECTING: Leaving Voicemails: Four Deadly Mistakes That Kill
Appointments
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Understand this: voicemail is a tool used to establish contact.
It's not a tool to make a sale. With voicemail, your objective is
to leave a message that will elicit a return call.
How do you do that? Listen closely.
If you are calling and reach their voicemail, do not leave a
message if...
-- It's a cold-call or exploratory call.
-- It's likely your prospect has just bought or sold a home
(someone in a developing neighborhood).
-- It's likely you're up against an existing relationship.
And here's the fourth , but most common voicemail mistake:
leaving a message that says...
"I'm new to real estate and wanted you to know...and by
the way, could you send me a referral."
If you do this you will demonstrate to people that you have
no regard for who they are or what their needs might be. People
will remember you as a thoughtless real estate professional...
a reputation that will destroy any chances of an appointment.
Next Month: There Are Only Five Reasons Why You Should Ever
Leave a voicemail
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4. NEGOTIATING: How to Slam a Deal Shut When the Ego of the Other
Party Stands in the Way
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
If you are dealing with people who have negotiated before and
pride themselves on winning (even at the expense of a deadlock)
use this technique of "giving away position."
Here are some key concessions you can use to give position to the
other side without damaging your position:
+ If you're selling a house with a pool, offer to
show the buyers how to clean the pool.
+ Offer to help the sellers move, or offer to let
them use your or a friend's moving van.
+ "Hold" the home for buyers over the weekend so
they can contact their agent, family, friends.
+ If you get an offer from a buyer that you can't
accept; offer to review it in two weeks.
+ Promise to shave ten days off of your normal 120
day contract.
Two things to remember when giving position away:
First, it's the timing of the concession that counts, not the size.
Wait for the moment when they are most open to
suggestions--usually after the discussion has strayed away from
the frustrations of the deadlock.
Second, never, ever gloat. People will resent you if you say,
"Donald, I was prepared to do this and this for them. If they would
have just hung in there a little longer!"
Next Month: Discover How an English Fox Hunting Expression Could
Quietly Bleed You of Important Negotiating Power
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
5. LISTING: Why So Many Agents Fall Down Before the God of
Commission Cutting
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Often, real estate agents don't know the value they bring to a
transaction. They underestimate their worth. They dread the "C"
word. They worry someone will figure them out.
Also, when commission is mentioned, they throw themselves at the
person's feet.
Over dramatized, I agree, but close to the truth.
Knowing the value of what you bring to the table is essential if
you want to overcome any objection to a 6% commission:
Here are five simple reasons to keep from cutting commission.
1. Without a professional, sellers may not sell as
quickly. This is critical if they have a deadline
or contingency clause on another house.
2. You are an objective, seasoned negotiator. You
bring an emotional, clear-headed stability to the
table. You are able to see the whole picture and
you might pick up on advantages amateur negotiators
would miss.
3. You know competent home inspectors, architects,
contractors. You've been dealing with these people
for years and know their work well.
4. You will list their home on the MLS--a privilege
granted only to real estate professionals. And the
MLS means nationwide exposure.
5. You will advertise and promote a seller's home on the
internet in newspapers, magazine ads, brochures, the
MLS and on your own web site. To do this themselves
house would be costly.
Listen, the point is to distinguish yourself as an expert in the
art of buying and selling a home. Then, believe in yourself.
Finally, have the courage to walk away from any deal, especially
if someone insists you cut your commission. This attitude alone will
make you a powerhouse, profit-making real estate professional.
Next Month: Build a Mailing List--Teeming with Sellers-- the Size
of a Small Phone Book in 12 Months
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
6. SELLING: The Key to Unlocking Any Stalled Talks...and the
Profit Tied-Up in Them
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Solutions grow out of sharing information. Conflicts grow out of
withholding it.
Sometimes, in the midst of talks, you may miss the other party's
real concerns because you've made up your mind that you know the
answer before you hear the problem.
You cannot resolve or jump start stalled talks until you listen
to the other parties...and make their concerns your own.
And how can you communicate that you understand and that you own
their concern?
Consider role playing but with a twist...
you play their role.
For example, if the issue is how much they've invested in their
overpriced home yet the market won't justify the price hike,
do this:
Assume their position while they assume the position of the
realtor, and communicate this:
"We loved this home and saw great potential and so we wanted
to take the time to fix it up, hoping that we could justify the
renovations by raising the price of the home in the future."
And if they cooperate, your clients should communicate your
stance (the market won't support a price increase). One warning:
both of you should play the role as if to win.
Why?
This is a strategy that young lawyers are often asked to practice.
They passionately understand every angle of the other party's
argument before they work on their own argument.
If you do this, what you will usually find is that you will not
only better understand each other's position, but new, different
solutions will begin to emerge from the discussion--solutions
that emerged only after each party put aside their differences
and became open-minded.
Next Month: The Morning After: A Secret Most Salespeople Don't
Use Simply Because They're Too Lazy
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Proquest Technologies, Inc.
inthezone@proquest-tech.com
1-800-959-3959
In the Zone: Focusing on the 4 Profit Pillars of Real Estate
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"In the Zone" is a Proquest Technologies publication.
(C) Copyright 2005, Proquest Technologies.
