Real Estate Insider | Chapter 12
__/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/
THE REAL ESTATE INSIDER E-NEWS!
www.realestategrowth.com
__/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/
1. "How Two Massive Frustrations Can Flood Your
Bank Account With Commission Checks!"
2. Finally...a simple *EASY* solution for getting
the deep level of commitment from your clients
that leads to a transaction!
http://www.realestategrowth.com
3. Any questions about anything you've read about in this newsletter?
Just call 1-800-959-3959 to speak to Brad or Ann.
Dear Reader,
Get ready! I've got a ton of awesome information I want
to share with you...and I may even ruffle a few feathers
in the process.
In the last month I've had two situations that stunned,
amazed and completely frustrated me. But from the aftermath
came some brilliant insights. Insights that will make it
super-easy to get the level of commitment from your clients
that virtually guarantees a transaction. Here's what
happened.
==============================
Lessons from the Trenches
==============================
First, I had a 'Super-Star' agent pull the plug on us.
After two months of crafting, polishing and refining an ad
for the national real estate publications, she bowed out of
endorsing our service.
Second, my sister-in-law (the rookie I referred to last
month) continues to struggle. Her frustration is building,
and she nearly quit real estate. But like I said, she's
tenacious and is working through the pains of developing
her skills. And I still believe she's going to make it.
Why am I sharing this? Because these two extremely
frustrating situations hold some incredibly valuable
lessons that will add massively to *YOUR* bottom line.
=====================================
Let's start with the Super-Star
=====================================
In addition to being a mega-producer, this agent is a
phenomenal lady. Her production is enormous. She earned
over $900,000 in commissions last year. On top of that,
she's a single mom, raising happy well-adjusted children...
she's an inspiration we all could learn and benefit from.
Her life is a quality balance of work, family and
recreation. She models some of the best real estate
practitioners in the entire world. One in particular is her
personal coach, Dirk Zeller of Real Estate Champions. Dirk
is a coach and mentor to some of the finest agents in the
country, and he has been coaching this agent for nearly
three years.
Well...when our Super-Agent got started with our service a
year and a half ago, she immediately saw a dramatic
improvement in her production. Granted, she was already
successful, but we helped her generate, by her estimates,
over 8 million in ADDED production her first year with us.
Interestingly enough, she only utilized two very basic
strategies - advertising in homes magazines like this:
http://www.realestategrowth.com/cs/homes_mag.asp
And using our hotline on her sign riders like this:
http://www.realestategrowth.com/rep/300_500.asp
A very limited use of our strategies and services...
but, none the less, it added 8 million to her total
production.
This obviously was very exciting. Instantly she became a
hardy supporter and even agreed to endorse our service in
some national ads we were planning.
================================
We Wanted to share Her
Wonderful Story
================================
She came from a background as a paralegal and her boss told
her she would never make it in this "ruthless business."
But she persevered and overcame the odds. Her sheer
determination and amazing work ethic got her to producing
over $250,000 a year in commissions. That's when she met
Dirk Zeller.
Dirk really helped her hone in and focus on the highest
points of return in her practice: prospecting, calling on
past clients and developing business systems to grow her
practice. From there, her production multiplied
dramatically over the next two years. During that time she
grew, found our service and grew even more.
It's a very compelling story and has a great deal of
emotional appeal.
So we crafted an ad that really accentuated the value of
our service. It explained our service's automatic lead
generation ability, the abundance of leads it generates and
how it saves tremendous amounts of work. We really sold the
"sizzle." (After all, people respond and buy emotionally and
then justify their purchases logically.)
==================================
It's An Age-Old Sales Truth.
==================================
It's always worked...and will always work. In fact, every
transaction you do takes place the very same way. Your
prospects get hooked emotionally, their desire builds, and
then they justify (or rationalize) their decisions
logically.
But to be fair to our agent, we really "juiced" the ad. We
made it very emotionally appealing. In fact, you could say
we crafted a bit of a "magic pill." Why? Because the "quick,
simple, easy" appeal gets people's attention and pulls them
in. But one thing you've probably already figured out about
me is this: I'm a firm believer in the constant drilling
and practicing of...fundamentals.
In fact, I firmly believe there are no "magic pills." I
believe it takes a constant application of fundamentals to
build a successful business, life or enterprise of any type.
But yes, I will use the emotional appeal of "quick, simple,
easy" to get people's attention and interest. Then, once
we've set the emotional hook, I gently and persuasively
lead agents to the fundamentals.
=======================
A Perfect Example
=======================
My sister-in-law is the perfect example of a deeper need
than just MORE LEADS. We gave her all the leads she could
handle...but it hasn't bore much fruit (two or three
deals...with a few more to come). Now give those same leads
to our Super-Agent...and she would turn them into huge
commission checks!
Why?
Because she has the fundamental sales skills. Her buyer
agents have the skills. And they both know how to lead
prospects down the path to a transaction.
So how do these two stories relate? Read on.
=======================================
After Reading Our "Red-Hot" Ad...
=======================================
Our Super-Star emails me this note. She wrote:
"First of all, let me commend you on a very well written
article. And, yes, I believe it would pull like crazy.
Thank you again for asking me to participate."
"Unfortunately, maybe I am not the one to feature in this
ad. First of all, I do prospect and every day! I don't do
as much cold calling anymore because I am calling past
clients, and clients that have been referred to me but I
employ a telemarketer (an arm of me) who calls FSBOs and
Expireds every day also. While I am very committed to using
Proquest Technologies for its hotline system, the explosion
in my business has been because I employed the best real
estate coach in the business, Dirk Zeller of Real Estate
Champions. Also, I have spoken on different occasions in
public about what I really believe will take an agent to
the next level in their businesses, and the next level and
the next and so on and it is, quite frankly, not a magic
pill or system, etc. It is eating thatfrog, prospecting,
constantly working on our skills and techniques until we
can recite them in our sleep and with consistency, focus,
and clarity of purpose (and, basically, in that order for
me anyway). I will continue using Proquest for all of the
advantages it offers and especially for my Buyers' Agents
as well as keeping my Sellers happy. And I have switched
to the newsletter you recommended and have been using it
for the past two months and really like it
CLICK HERE FOR A SAMPLE:
http://www.realestategrowth.com/cs/sfl.asp
and I think it will pull really well too, once we have the
kinks worked out of it."
"However, Gary, I am not willing to compromise my position
that I have established in and throughout the real estate
community as to how I have grown my business and continue
to do so. I don't mean to offend you but I cannot okay the
article as written."
** (Which is perfectly OK...frustrating...but OK, because
we've got a couple dozen other "Super-Stars" ready to
fill her shoes. So there's no hard feelings and we wish
her continued success. But consider this...)
=====================
The 'Real' Habits
That Lead to Success
=====================
Now remember this is an agent who we helped add 8 million
to her total production her first year with us. So she HAS
got a lot of value from us.
At the same time I understand her position and agree. When
it comes to the skills necessary to be successful, you've
got to drill, practice and commit yourself to the constant
development of your craft.
I spent 11 years selling face-to-face. I drilled, practiced
and rehearsed until it became second nature and automatic.
Then I drilled even more. I listened to tapes endlessly,
read every book I could find on sales and the art of
persuasion and I've made a diligent study of this craft
called "Sales"...a study I continue to this day!
=================================
You Are in the Business of
Guiding and Leading People!
=================================
To create real estate transactions REQUIRES sales skills!
You've got to be able to take a prospect from "We're just
looking" to setting an appointment with you. When someone
wants you to send them information, you've got to have the
plan, scripts and ability to lead them into setting an
appointment to meet with you face-to-face! (See chapter 11!)
Click here:
http://www.realestategrowth.com/ITZ/resources/chapter11.asp
===========================
No "MAGIC PILLS" Here!
===========================
So YES! I wholeheartedly agree with our super-agent: "...it
is, quite frankly, not a magic pill or system, etc. It is
eating that frog, prospecting, constantly working on our
skills and techniques until we can recite them in our sleep
and with consistency, focus, and clarity of purpose...."
You've got to develop your ability to move people from
their skeptical, cynical, sales-resisting position to
meeting with you face-to-face and building a relationship.
So I totally agree that those skills have got to be
developed...without them you experience the same challenges
and frustrations my sister-in-law has to overcome.
============================
Many Just Need More
Good Quality "At Bats"
============================
But like I've said in many previous issues, there are tens
of thousands of agents who are polished salespeople, who
can instill confidence in people, and can move people - but
they don't have a single clue about how to make the phone
ring 5-10 times a day with interested new prospects. If
they did, they would make a carload of money...and it would
be like taking candy from a baby! Our experiences prove
that belief out.
Every day we have agents rave to us about how much money
they're making now that the phone is ringing off the hook.
But like I said, they also have the skills, understand the
skills and apply the skills. All they needed were more good
quality "at bats."
To find out how our agents are getting more quality 'at
bats'...up to 27 warm inbound leads a day...CLICK HERE:
http://www.realestategrowth.com/how_to_grow.asp
=================================
The Amazing Revelation on
Success Most Agents Miss
=================================
So, with all that said, the lessons here are about SKILLS:
how to take a prospect from calling your response hotline
to developing a relationship with you that leads to a
transaction. In working with my sister-in-law, I've had
some very interesting "revelations" on this subject.
The first being: it's more than just getting to a point of
rapport with prospects that matters. Yes, rapport is the
first step. And my previous statements of "get to rapport
and you're 80%-90% of the way to the transaction" assumes
that your skills are where they need to be.
If you have well-developed, sharply-honed skills and you
get a prospect to a point of rapport...you are 80%-90% of
the way to the transaction. But if you don't have the
skills, you're just making friendly conversation. Yes,
friendly conversation is nice, but if it doesn't lead to a
paycheck...you're spinning your wheels.
So the comments our Super-Agent made in her email are very
well taken. And that brings me back to my sister-in-law.
================================
Leads Coming Out Her Ears!
================================
Here's this super-enthusiastic, got-leads-coming-out-her-
ears rookie, who doesn't know how to get to step 1, step 2,
step 3 and so on.
Since I began consulting her, I've changed my stance. I
believe you've got to get to rapport first (same as before)
...but now I'm seeing the deeper need for the development
of a strategy and *THE SKILLS* to carry agents all the way
through to a real relationship that turns into a closing.
So, once you've got rapport, the next step is to get face-
to-face ASAP! (see chapter 11) Click here:
http://www.realestategrowth.com/ITZ/resources/chapter11.asp
OK, so you're face-to-face...NOW WHAT?
================================
How to Get Prospects to
Become Commited Clients
================================
At this stage you've got to build the relationship and get
your clients to a deeper level of commitment. You've got to
solidify the relationship. Then your time is well spent and
will ultimately lead to a transaction.
How do you do that?
Well, here's where I may ruffle some feathers...
I do not believe in Buyer Agency Agreements. Now before
you go screaming at me - hear me out.
You see I believe in real relationships that lead to
closed transactions. Let me explain.
I believe Buyer Agency Agreements that commit a prospect to
working with an agent who has inferior skills and a poor
commitment to serving clients are WRONG! Prospects should
not have to deal with someone who doesn't serve their needs
well. Here's my solution.
===============================
Same Result - Less Stress
===============================
I propose something like a "Buyer Agency Agreement" but
softer, easier, and it gives prospects a way to get the
best possible service...all the while helping you get the
level of commitment you need to build a relationship that
ultimately leads to a transaction.
Let me ask you a question. Do you care whether or not
you've got a "Buyer Agency Agreement" (I know most states
require a signed "agency" agreement prior to closing -
that's NOT what I'm talking about)...or do you care that
you have a real commitment from your client that turns into
a closing?
=========================
Do You Really Care?
=========================
I would venture to guess you could care less about the
agreement - so long as you get the paycheck. Am I right?
Well, here's how to get that same high level of commitment
without a "Buyer Agency Agreement" that scares your client.
First, once you're face-to-face with a prospect,
demonstrate your willingness to be of service. Show them
property sheets, talk with them about their wants and needs
and really get a deep understanding of their needs.
Then, once you've spent 15-20 minutes serving them, giving
them your best energy, present this simple two page
"Acknowledgement of Our Relationship" letter. Click Here:
http://www.realestategrowth.com/cs/acknowledge.asp
Simply say, "Now that we've got a better idea of what it
will take to accomplish your goals, I'd like you to take a
couple minutes and read this over."
Hand them the two page letter and leave the room for about
5 minutes.
Now please understand something. I'm not a legal expert and
this letter of "Acknowledgment" probably has no legal teeth
what so ever. So don't fire off an email calling me an
idiot.
I don't understand the legal implications, but I do
understand (VERY CLEARLY) this issue from the consumers'
perspective. And all I really care about is the
relationship side of this process...and helping you create
transactions.
In fact, I just bought a house. And I can honestly tell you
from my experience I would never sign a "Buyer Agency
Agreement" giving an agent three to six months to "be my
agent"...until they had clearly proven their worth.
Why?
===================================
Too Many Agents Who Talk the
Talk But Don't Walk the Walk!
===================================
What's the guarantee I'm not signing up with a wishy-washy
agent that gives a good first impression? I've had it happen
before. I like the salesperson. We've got a good rapport.
But before you know it they show their true colors and mess
up our relationship by not keeping their commitments!
Well, I simply wouldn't take that chance for three to six
months with an agent...with an attorney...with a doctor...
again, until they've proven their worth.
I'm free to choose whoever I want in every other
circumstance. So why not real estate? But one thing is
certain: serve me well, and I'll be back again and again
and again.
Now do I mind acknowledging my relationship with a
professional? Heck no. Especially if you serve me well. In
fact, if you serve me well, I'll send my friends, relatives
and everybody else I know to you.
So here's my thinking on this (And you can think I'm wrong
or say I don't know what the heck I'm talking about but...):
it's all about the relationship and developing it to where
it creates a transaction.
==========================
My Simple Profit Philsophy
==========================
My philosophy is: MAKE IT EASY for clients, serve them
extraordinarily well and clearly communicate the value you
are bringing to the table. Get them to acknowledge it by
signing off on it. And then...now this is REALLY important
...close by shaking their hands and saying:
"I really appreciate the trust you've placed in me. I'm
going to do everything I possibly can to live up to that
for you - by helping you find the perfect home.
"Now one last thing: I want you to understand that I can
show you ANY house on the market. It doesn't matter who has
it listed. If you see something you like ALWAYS call me
first, and I'll set up a showing for you.
"Also, if you happen to be out looking around and you stop
into an open house somewhere, be sure to tell whoever is
there that you're working with (your first name) at (your
company). That way they won't bug you or hound you about
anything. Then if you like it, call me and I'll help you
out with it."
Do you see where I'm going with this?
It's soft, gentle, but gradually builds their commitment to
you. And by closing out your first meeting with them this
way, you're solidifying your relationship.
==================================
The Only Advice You Need to Follow...
==================================
And 99% of your clients will remain loyal to you for a
lifetime.
At this point, if you serve your clients well, 99% of them
will stick with you to the end. But the key is your service.
You've got to take good care of your "A" prospects. And by
taking this approach to communicating your relationship to
them, you get all the cards on the table. They know you're
working for them - and if they're decent people, they'll
hang in there with you...and aren't those the type of
people you want to work with anyway?
So...I'm against tight, hard-fit, scary agreements that
inhibit communication. But I am all for clients committing
to stay with you and work with you...if your service
deserves it. Make sense?
As you can see, what could have been a disaster was
transformed into creative energy and insight. When our
Super-Agent pointed out the difference between successful
and struggling agents, a light went off in my head: the
lack of fundamentals was exactly why my sister-in-law was
struggling in real estate!
So, we crafted this "Acknowledgement of Our Relationship"
letter to help solidify her agent/prospect relationships...
and it's putting her on the road to more transactions.
Prospects don't feel threatened by its casual nature but
they still feel committed to her service (once openly
committed, people are far more likely to remain consistent
- that's the beauty of the "agreement").
There you have it...an EASY strategy for getting deeper
commitment from your prospects.
Until next time...here's to you developing a more
profitable and rewarding real estate business!
All my best,
Gary Elwood
__/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/
Proquest Technologies, Inc.
gelwood@proquest-tech.com
1-800-959-3959
"Secrets to Unleashing a Six-Figure Plus
Real Estate Income with Response Hotlines"
__/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/ __/
Tell a friend about us and earn referral fees...
Call and ask for details!
