Maverick Agent
Personal Coaching Audios

Why A Seller Should List With You

Why A Seller Should List With You

1. Knowledge of the unspoken things buyers look for.
Functionality of home
Neighborhood
Badge of honor (home they are proud to show off )
2. Ability to sell the neighborhood, with specific knowledge of the immediate neighborhood and community as a whole.
3. Understanding of negotiation strategies (with examples of top techniques/pieces of wisdom).
Seller motivation stories and seller fight stories are great negotiation tools.
4. Contract wordsmanship, with examples of ways you know to better protect your client and lock in buyers.

How To Recruit Agents Into VIP Inner Circle

How To Recruit Agents Into Your VIP Inner Circle

1. Introduce yourself (if they don’t already know you.)
2. Explain that you’d like to propose a way for their clients to more easily buy and your clients to more quickly sell homes.
3. Offer to reach out to them before you officially list a home so they have the first opportunity to show.

Only Two Types of Agents Will Refuse
1. Agent who only lists and doesn’t show homes to buyers.
2. Agent who doesn’t care about their buyers. Every agent who cares about buyers would love to know about homes before they’re on the market.

There is no need to mention the time frame of 29 days or details of the program, only that you’re reaching out before the home actually goes on the market.

How to build your Personal Buyer MLS

How to build personal buyer MLS through “Blind Buyer Ads”
1) Heading: “Be the first to see newly listed homes in (targeted neighborhood/farm)”
2) Body: “If you’d like to see homes before they’re offered to the general public, call me. I will not contact you until I have a home that meets your specifications to give you an opportunity to see the home before it’s officially listed.”

This is the general idea of what your ad should be, but you do not have to use this exact wording.

This list enables you to build “pre-hype” and tell sellers that you’ve had their home advertised before they even decided to sell by collecting a list of people looking for a home like theirs.

Can I Put A Sign On A New 29 Day Listing Right Away?

Upside of using a sign during 29 Day: Neighbors and browsers will see the sign and know the home is for sale.

Downside: Loss of mystique gained from private invitations, defeats the purpose of VIP Inner Circle and Personal Buyer MLS. No sign allows you to control messaging to buyers/neighbors. Telling them they are the first to see the home adds an air of exclusivity.

Greg recommends not using the sign.

Take Every Listing Every Time and Commission Percentages

Take every listing, every time.
Build your value proposition. Show sellers why you and your system are worth every bit that you charge. You will net them more money than other agents on their home, which will more than pay for your commission.

29 Day in Hot Markets

Presenting 29 Days in overheated markets:
1) Pre-marketing before the house is officially listed allows you to build demand into a frenzy.
2) Frenzied demand before the first day of showing allows you to book showing after showing.
3) With high demand, the home will sell for top dollar.

What Should a Real Estate Business Look Like?

How to make your real estate business scalable with listing and buyer partners:
1) Listing partners go with you to listing appointment, meet, and bond with the seller. The listing is in your name, but the listing partner handles the listing until an offer is made. Listing partners earn 20% – 35% of your commission. If that seller buys a home, that partner handles them and earns approximately 70% of that commission. Listing partners are typically new agents that you are “showing the ropes.”
2) If a buyer isn’t interested in your property, refer them to a buyer partner who pays you a 25% – 35% referral fee. If that buyer later sells, the buyer should refer them to you and you will pay them a referral fee.

4 Components of a Real Estate Business

Four components of a real estate business:
1) Leads (seller, not buyer) – Marketing should bring in leads. Always look for ideas on how to better bring in leads and referrals.
2) Conversions – Convert seller leads to listing appointments, convert listing appointments to listings, convert listings to sales. Do this as effectively as possible.
3) Operations – Administrative/back office. As an agent, this should not be your focus. Hire smart, qualified people to do this for you.
4) Product – Your ability to sell homes at the highest price. Comps determine a range of home values; the agent’s job is to sell the home at the top of that range.

29 Day Audio/Video Script

Click here for a copy of the script

Greg’s Radio Debate (With a Traditional Real Estate Agent)

29 Day vs Traditional Realtor debate
1) Home sellers do not need realtors to sell their homes. Any seller that prices their home low enough, it will sell regardless of who handles the sale. The job of a realtor is not to sell homes; it is to sell homes at the top of the comp range.
2) Sellers should interview realtors based on their strategy to sell their home at the highest price possible.
3) “It’s not about the real estate agents who sell the most homes; it’s about the real estate agents who sell homes for more.”

Tips For Finding and Managing Listing Partners

Driving Demand In Hot Markets

Tweaking the 29 Day program to hot markets:
Move neighborhood day and print marketing before the first weekend to drive excitement into a frenzy and draw more bids over that initial weekend that many homes already sell. More demand means higher prices.

Ad Exposure and Marketing Clutter

The 3 Clarities

The Three Clarities:
Clarity of Purpose – What is the purpose of your actions? What do you want to accomplish?
Clarity of Process – How are you going to accomplish your goals?
Clarity of Person – How are you projecting yourself? Who do you want to be? Are you that person? How will you become that person and stay that person?

How to List Expireds

The mindset of working expired listings:
1) Do not go on expired listing appointments with the initial goal of actually listing the home. These sellers have dealt with disappointment, missed appointments, and unfulfilled promises. Now they are being slammed with calls from agents offering gimmicks, but no solutions. Be the one agent that thinks of them first and they can trust.
2) Have the mindset that you want to help these sellers help first and get the listing second.
3) Help them understand that it’s possible that their home didn’t sell because it was under-marketed, not overpriced. You have the programs to market their home the way it should have been from the beginning.

Expired Listings part II – A Creative, More Genuine Approach

Master the art of working with expired listings, then teach a team member what you’ve learned so that they can handle the calls and set appointments. It could be beneficial to have one team member that specializes in expired listings. Some agents base their entire business on working only on expireds and make very good money.

Talk track for expired listings:
Initial call: Introduce yourself, reassure them that you are not an agent asking to list their home. Instead, explain that you’re one of only a few people that study the strategy of home selling and the mistakes that many agents make when listing homes and why homes that should sell don’t sell. Ask for fifteen minutes to look at home and ask a few questions, offer to send them a report the next day and possibly some other incentive (gift certificate, etc.).
If they accept, do NOT go with the intention of listing the home. Plan on doing exactly what you said you were going to do.
Follow up that appointment with an email with your findings and ideas based on your system. In closing, mention that you are an expert in those systems and, if they would like to learn more, to feel free to contact you at their convenience.

Expired Listings part III – The Six Questions You Ask – And Why

Can You Market Like Tesla?

Examples of the power of pre-marketing to cite to sellers:
1) Tesla had 180k pre-orders in the first 24 hours for a car that had yet to even be unveiled.
2) Apple customers routinely camp outside stores for days to get the latest iPhone or iPad.

You have the potential to be the Tesla and iPhone of the real estate world.

When To Bring On a Listing Partner

Q: When is the ideal time to bring on a listing partner?
A: Immediately. Bringing on a listing partner ASAP is one of the best things you can do for your business. They are not salaried, they only make money when you do. They can be a huge help to you on research, paperwork, etc, and can gain knowledge, experience, and income in the process.
Explain to sellers that they are getting two for the price of one because the 29 Day process is so time-intensive that you need the help.

Listing Partner – Part 2

In a successful car dealership, the main salesperson or owner doesn’t go out do everything themselves. They have people to buy the cars, others to handle the paperwork, and other people to sell the cars.
You can’t afford to pay out a lot of salary when launching your real estate business, but just like a car dealership can bring in salespeople to work on commission, you can bring in a listing partner that makes a portion of your commission and helps you with your listings.

Listing Partner- Clarification

Clarification on Voxer before previous one – the discussion is about listing partners, not buyer partners.

Listing Partner – Part 3 – Building A Scalable Business

The 29 Day and 990 programs are highly effective tools in building a scalable business. Listing and buying partners will become essential in managing the volume that these programs will bring you. Over time, you will hire more and more partners that will be able to train each other so that your business can grow exponentially and you will have the freedom to have a life outside of your business.

Listing Partner – Part 4

Some of the best listing partners are brand new agents that you can train into your system and do not carry baggage from “traditional” methods.
This system can be trained easily, in the same way you have been trained.

Neighborhood Week

Making Neighborhood Week even more effective:
Invitation should be from sellers, not from you. Your branding, you deliver (or hire someone to deliver), but the invitation is from the seller offering neighbors (and family/friends) the opportunity to have the first look at the home before it officially goes on the market.

Homes Of Character and Sliver Markets

Don’t try to market to everyone at once. Know your market, your niche, or “sliver markets” and market specifically to those people better than anyone else can.
Examples include a realtor who specializes in “homes with character” and his own issues marketing personal development to everyone vs using specialized approaches to different “sliver markets.”

FSBOs and the 990 Opportunity

990 Opportunity Talk Track for For Sale By Owners:
1) Ask if they’ve heard of a program that allows them to sell their home with the help of the real estate community without paying anything.
2) Explain that they can keep showing their home and working to sell themselves, but replace their “For Sale By Owner’ sign with a more generic “For Sale” sign. You will put it up on the MLS and shop it to other realtors. If you sell through your network, they pay your commission. If they sell to a buyer that has no agent, they pay you only $990 commission.
3) By taking down their “For Sale by Owner Sign”, they will no longer have the problem of realtors avoiding their street for fear of losing commissions.

The 990 opportunity is the best way to market to For Sale By Owner homes.

For sellers who want to haggle over your commission, a powerful tactic could be to offer the 29 Day program leading into the 990 opportunity.

FSBOs and the 990 Opportunity – Part 2

Statistically, seven out of eight homes sold through the 990 opportunity program will sell at the normal commission. You make less commission on one out of eight homes, but these are all homes that you are unlikely to list without the program.

Creative Neighborhood Farming

Creative farming technique:
Put out a publication/ miniature newsletter to distribute throughout your farmed community. Make the publication useful/entertaining with some subtle messaging on the back. If you do this right, the community will look forward to receiving your publication and you will have instant name recognition whenever someone needs their realtor.

How Do You Get 10 Showings In A Day?

Lining up 10 showings in one day:
1) Build, nurture, and reach out to VIP Inner Circle of agents.
2) Build, nurture, and reach out to Personal Buyer MLS
3) Do not promise a number of showings to the seller. Ten is the ideal, but even one or two is good.
4) Pre-market in whatever way you feel is helpful.

MLS is a useful tool, but one that should be held in reserve because of its negative aspects.

What Do You Do?

How to answer the question “What do you do?”
1) It’s not what I do, it’s why I do it.
2) The reason I do what I do is that so many homesellers leave money on the table, I felt called to help.
3) I provide sellers a proven formula for homeowners to sell their homes at top value.

Listing Partner – Part 5

Most listing partners can handle two or three launches in one day on the 29 day program, but could manage more than two or three ongoing listings at the same time.

If a listing partner learns enough to go off on their own, this is a sign of your success and your network has just grown.

“Success unshared is failure.”

You Have A Unique Business Model… Use It To Your Advantage!

These programs and methods should be seen as the foundation of a scalable business, not just a way to sell more homes now. Have a long-term outlook on building a successful, lasting business that will allow you to have a more free life and help more people.

How to get a client to close on the best possible offer

How to get a client to close on the best possible offer:
Help them understand that this offer has the potential to turn them into buyers. If they do not accept this offer, they have now bought their home hoping that they can later sell it for more. Ask them if this home is the investment they would really choose for that money.

Once they have let go of their emotional attachment and see the logic that homes lose value over time on the market, they are much more likely to close.

Strategy For Listing By Owners – Part 1

** This is a department in your business.
** Hire someone you’ll train to call Expireds and By Owners.
** In most states this phone appointment person will not need a license.
** Benefit – Someone else calling By Owners and Expireds positions you better.
** Benefit – Great ROI because phone people are cheap compared to your commissions.
** Benefit – Expireds and By Owners can be grumpy. Why start your day that way?

Strategy For Listing By Owners – Part 2 – Talking Points

Lead Generation

Outline of the 22 Step Home Launch Formula

Pre-listing Communication With Sellers

The Last Chance Sign

Position Against Tradition

– People are fascinated when it’s revealed that something they’ve always held true actually isn’t, that “the way it’s always been done” can be done better.
– Aren’t you intrigued by articles that expose outdated thinking, urban legends or myths related to subjects relevant to you?
– The idea is to present your 22-Step Formula “positionally” by first pointing out the flaws and problems with the traditional home selling system.
– For example, how MLS discloses DOM (days on market) to buyers and how that hurts home sale prices, often without justification.
– Or, how MLS discloses a home’s price reduction history to buyers, again creating price damaging perception.
– Or, how immediately throwing a for sale sign up in the yard eliminates the ability for you and other agents to call buyers and get them excited about an opportunity to see a fantastic home, about to be placed on the market, that very few know about.
– Or, how most sellers think that emphasizing to buyers that they are strongly motivated will cause buyers to offer less, when actually it’s the best way in the world to generate more showings and then reinforce the listing price by saying the sellers would never have priced the home so low if they weren’t so motivated to sell.
– Or, how most agents will say their job is to sell your home, but they are totally wrong. Priced right, any home will sell. A Realtor’s job should be to sell a home at the very tip-top of the price range for similar homes.
– It’s important never to criticize other agents. Instead, criticize the process they follow and point out that they aren’t even to blame because they’re just doing what they learned as a rookie agent and what everyone else has done for the past 75 years.
Per the Voxer, here is a link to my blog on Tom Hopkin’s website: http://www.tomhopkins.com/blog/category/guest-blogger

Coming Soon YouTube Channel

Cialdini’s 6 Principles of Persuasion

Cialdini’s 6 Principles of Persuasion – Scarcity and Social Proof

One way Cialdini’s principle of scarcity can be incorporated into the 22-Step Formula is by giving buyers an opportunity to see the property before it is on MLS. Scarcity is similar to the fear of loss, creating the perception that they are reaping the benefits of the program by having access to something very few other people have access to and they may lose out if they do not act quickly.

Cialdini’s principle of social proof is the concept that when people see other people doing things and excited about other things, they become more interested in that thing. That is the philosophy behind condensed Saturday showings. The goal is to create the aura of social proof.

Recommended Talk Track For Working Scarcity Into Your Listing Presentation

Don’t Let Your Ambition Get Caged By Tradition

Our real estate industry has rules of tradition. Real estate companies have rules of tradition. Your customers, your friends, even your family have expectations for you, rules of tradition they expect you to follow, even if those rules are rules that don’t inspire you.

Never forget… If you don’t set your priorities and determine your own rules, someone else will.

Every morning think about devoting 20 minutes to writing out your intentions and your rules for the day. Then ignore the emails, the texts, the calls and the distractions… live each day with greater focus on setting your own rules and achieving your own intentions, living a life apart from the herd, a life more in tune with who you want to be.

Sure, certain governmental laws have to be followed. You can lobby for change, but you need to follow those legal rules or pay a fine or go to jail. But that’s not true with rules of business and life. They’re not rules of law, they’re rules of tradition.

My advice for today. Live each day with more focus on your own intentions and determining your own rules. And don’t just pursue your ambitions, raise your ambitions. Refuse to settle. Have the grit and the courage “to be the me you want to be.”

Don’t let your vision get caged by tradition. Don’t blindly succumb to the rules of your profession, the rules set by your company, the rules expected by your peers, the rules dictated by your capability, the rules hampered by your energy and the rules not trampled because of your fear.

Don’t Let Tradition Cage Your Ambition

Powerful Phrases That Resonate With Home Sellers

Powerful Phrases That Resonate With Home Sellers

* Time is acid to the price of your home.

* One of my goals is to put buyers in a “higher price frame of mind.” Ask other agents if they know how to do what I do. Some may not even know what you’re talking about. I have 22 Apple-advanced ways to make buyers pay more.

* If Apple were in the real estate business most Realtors would be out of business.

* The existing home selling process is an outdated relic, essentially unchanged for 50 years, except advertising is now more online than in print. That’s not a change in process, just a change in the mode of communication.

* Many Realtors who interview for listings misunderstand their job. They think it’s to sell your home. It’s not. It’s to sell your home at a higher price than you could or any other Realtor could.

* The key to selling your home for more isn’t just maximizing the number of showings. It’s maximizing potential buyers’ perception of value. Many Realtors can generate showings. Few Realtors know how to maximize a buyer’s value perception.

You Don’t Have to Learn All Of Our Material Before You Get Started

You Don’t Have to Learn All Of Our Material Before You Get Started

1. Don’t be overwhelmed by the depth and breadth of our courses.
2. My Maverick team and I have done our best to make this a Harvard-level set of real estate success courses. We continue to ad tips and strategies virtually every week.
3. Unlike being an attorney or doctor, you don’t have to learn it all before you implement some of it.
4. You can take one tip or strategy at a time and implement it superbly to build your business one step at a time.
5. You can’t build an Apple or Amazon in a few weeks or months. The idea is to improve your model every week and every month.
6. A few key priorities and places to start: your personal brochure, improving your LinkedIn profile, adding a compelling message to the back of your business card (Ask me how I can sell your home for more than it’s worth), and crafting/perfecting an engaging elevator speech (listen to my Voxer at maverickvoxer.com).
7. As for the 22-Step Home Launch Formula, you don’t have to learn it all to implement some of it. Remember, the power isn’t in the 22 steps, the power is in showing home sellers that you have a pre-marketing plan they can logically and transparently see will increase the probability their home will sell at a higher price.
8. It’s okay to start with a shortened version (3-8 of the steps) of the 22-Step Formula.
9. Rome wasn’t built in a day. Neither is a real estate business that sets you free.
10.Remember consumer advocate Ralph Nader? He said, “Your best teacher is your last mistake.”

Three Clarities of Purpose

The most successful Realtors I know exhibit a visible, contagious sense of urgency. That doesn’t mean an impatience to hurry just to cross things off their to do list, it means a sense of anxiety and restlessness to get important things done well and then move on to the next most important things.

Now matters more than tomorrow. Highly successful real estate agents intuitively know that a someday mentality translates into dream killing travesty. Opportunities are only opportunities if you reach out, grasp them, and turn them into your opportunities before someone else does.

How do you practically apply having a sense of urgency in real estate? The first step is to get absolute clarity about your key priorities or urgencies. If you have too many you’ll become overwhelmed.

I could give you hundreds of examples, but here are three clarities of urgency:

** If you believe that listings are the key to real estate success, your sense of urgency grows as the morning gets late if you don’t have a listing appointment set for later that day. You start getting acid in your stomach and guilt in your gut until you get on the phone, or have your marketing person get on the phone, and find a home seller somewhere who will meet with you that day.

** Since you know that 43% of home sellers look at your LinkedIn profile before you arrive on the listing appointment, you don’t sleep quite as tight if you know you look like a loser on LinkedIn. So you spend a little time in the morning and a little time at night, no matter how tired you are, to make you’re LinkedIn profile look a little better each day.

** One of the most powerful things I did to list virtually every home, every time was to have an engaging personal brochure. There are samples of personal brochures other Maverick agents have produced at 29DayAds.com. Having your personal brochure delivered to home sellers before you arrive on a listing appointment makes them start to like you before they ever meet you. Remember the cliche, people do business with people they like and trust.

My advice for today? Make a list of three things you should do to help you list more homes. Make those your urgent clarities. Let them live in your brain and put guilt in your gut until they’re done. Then pick three more. You’ll look back in three months and be amazed at how far you’ve come.

“I have been impressed with the urgency of doing. Knowing is not enough: we must apply. Being willing is not enough; we must do.”
– Leonardo da Vinci

Success Compression & The On-Off Switch

Success Compression & The On-Off Switch

Before you read the notes on today’s Voxer I want to explain why I teach business strategy in addition to real estate strategy. A huge component of my success in real estate was learning how to do what most Realtors never learn, making the transition from simply selling real estate to having a real estate business.

Tomorrow’s Voxer will be dedicated to the difference between being a technician (doing the technical work of a business like selling homes) and being an entrepreneur (building a scalable business that sets you free). This concept is outlined magnificently in what I believe is one of the best business books of all time, The E-Myth Revisited by Michael Gerber.

Success Compression & The On-Off Switch

  1. Success Compression is a concept used by the world’s most successful people.
  2. It’s a three step process: (1) identifying an important task (such as me doing a Voxer each day); (2) allocating a liberal block of time to get it done; and (3) eliminating all distraction during that time period or until the task is completed.
  3. The idea is to not multitask when you are working on an important project. Turn off your phone, close the door, go somewhere people can’t find you if you need to, and don’t allow your mind to focus on anything other than that task during the allocated time.
  4. Success Compression is a proven formula for getting more done, getting the right things done, and doing them at a higher quality level.
  5. Examples of when to use Success Compression in real estate? Preparing for a listing appointment. Writing ad copy. Talking to a client or prospective client on the phone or in person. Training your listing partner, marketing person or transaction coordinator. Making calls. Improving your business plan. Concentrating on learning from my coaching. Practicing your talk tracks (skill development).
  6. When you are in Success Compression mode, you are generally 100% focused on business (although the concept can also be applied to fitness, a hobby or getting the most from time with your family and friends).
  7. The intensity level of  Success Compression is so high that you cannot operate in that mode all day.
  8. Turn Success Compression off when you are doing the many smaller business tasks that don’t take a lot of time and concentration or simply aren’t highly important.
  9. The On-Off Switch (or Business/Personal switch) is similar to Success Compression.
  10. Throughout each day, I quickly switch from business mode to personal mode. If Roseann calls, I reset my mind and focus on personal. Then, when we hang up, I instantly flip my mental switch back to business. This switching back and forth, from business to personal, typically happens multiple times each day.

“If you don’t prioritize your time, someone else will.”

                            -Jon Paul Dejoria

Pick & Pitch Plan

Pick & Pitch Plan

  1. I coach listing success. I encourage you to teach this strategy to your buyer agent partners. You focus on generating listings. Those listings often generate buyers who aren’t a match for that listing. Your buyer agents can use this strategy for those buyers, particularly those who are semi-serious about buying.
  2. “A” buyers are those who want to go out and look at homes now. This strategy is not primarily designed for these primo “A” buyers.
  3. “B” buyers are buyers acquired through open houses, ad calls, yard signs and your other marketing efforts, who don’t want to go out and look at home after home. Think of them as buyers who would buy if they learned about the exact right home.
  4. This is a strategy for converting a percentage of “B” buyers you would likely not convert to sales.
  5. Explain that you see many homes, and homes newly on the market, each week. Ask if they would like you to call them if ,and only if ,you find their “perfect home.”
  6. Assure them that they will not hear from you if you don’t feel like you’ve found the perfect home for them.
  7. If they say yes, ask and record a description of their perfect home.
  8. Keep a digital record of these buyers’ “perfect home,” descriptions searchable by at least neighborhood, price range, number of bedrooms, square footage range and preferred exterior style.
  9. Constantly survey your new listings and other agents’ absolute best, most salable new listings looking to match as many of your “B” buyers’ descriptions to the most salable new listings.
  10. When you find matches, call the buyers, remind them that you are the agent they spoke with who has been looking for their “perfect home.”
  11. In an excited tone, tell them, “I may have found it.” Then describe the home and set an appointment.
  12. This plan reverses the normal model of showing one buyer a lot of homes. Here, you “pick” one great listing and “pitch” it to a lot of buyers. That’s why I call it my “Pick & Pitch” Plan.

“A problem is a set of facts compounded by emotion.Extract the emotion, lay out the facts and decide on a course of action. The worst decision is usually no decision.”

The Realtor Code of Ethics & Mass Mailings

The Realtor Code of Ethics & Mass Mailings

A great question came in from one of our Maverick agents today. He asked if he is required to add “If you are listed with a Realtor, I am not soliciting your listing” language in mass mailings or other forms of generalized marketing to generate home seller calls. In brief, the answer is no. This is a common misbelief in real estate.

  1. The Realtor Code of Ethics, Article 16-4 prohibits Realtors from soliciting the listings of other Realtors.
  2. Some Realtors and brokers/managers mistakenly believe that this requires adding non-solicitation language to mass mailings or generalized marketing designed to generate home seller inquiries.
  3. You sometimes see language at the bottom of Realtor mailers, door hangers and even ads that say “This is not meant to solicit your business if you are currently listed with a Realtor.”
  4. This disclaimer language is not required or even suggested by the NAR Code of Ethics.
  5. Agents do it because they either see other agents doing it or their broker mistakenly believes it is required.
  6. This kind of language is not only not required, it’s not even logical.
  7. If you intentionally target your marketing to a listed property, adding this language does not let you off the hook for violating the Code of Ethics (this would be a violation).
  8. If you are sending a mass marketing into a neighborhood or area, you can’t possibly think that it would make any difference in a consumer’s mind if they see a big, bold statement like, “I’m the best Realtor in the world and can sell your home for more than anyone else” and then below in fine print see, “Oh by the way, if you’re currently listed with a Realtor please ignore this.”
  9. This is a great example of being influenced by traditional rules rather than what is required by legal rules.
  10. My job as your coach is to inspire you to dig deeper, think bigger, and not just accept what others do as what is required or what is best.
  11. For your convenience, below are the sections of the NAR Code of Ethics relevant to this subject.

“No need to think outside the box when you realize there is no box.”

– Unknown

REALTOR CODE OF ETHICS

– Standard of Practice 16-4

REALTORS shall not solicit a listing which is currently listed exclusively with another broker.

  •    Standard of Practice 16-1

Article 16 is not intended to prohibit aggressive or innovative business practices…

  •    Standard of Practice 16-2

Article 16 does not preclude REALTORS from making general announcements to prospects describing their services and the terms of their availability even though some recipients may have entered into agency agreements or other exclusive relationships with another REALTOR. A general telephone canvass, general mailing or distribution addressed to all prospects in a given geographical area or in a given profession, business, club, or organization, or other classification or group is deemed “general” for purposes of this standard. (Amended 1/04)

Article 16 is intended to recognize as unethical two basic types of solicitations:

First, telephone or personal solicitations of property owners who have been identified by a real estate sign, multiple listing compilation, or other information service as having exclusively listed their property with another REALTOR, and

Second, mail or other forms of written solicitations of prospects whose properties are exclusively listed with another REALTOR when such solicitations are not part of a general mailing but are directed specifically to property owners identified through compilations of current listings, “for sale” or “for rent” signs, or other sources of information required by Article 3 and Multiple Listing Service rules to be made available to other REALTORS under offers of subagency or cooperation. (Amended 1/04)

Seven Dimensional Thinking

Seven Dimensional Thinking

People tell you to be creative, but don’t tell you how. Here’s how.

Envision everything you do in real estate, other businesses and everyday life… each project, process, tradition and procedure, in seven different ways:

  • Bigger
  • Smaller
  • Faster
  • Slower
  • Opposite
  • Different
  • Gone

Many won’t apply. Some usually will.

They are each explained in the Voxer. I used MLS as an example.

“To live a creative life we must lose our fear of being wrong.”

– Joseph Chilton Pearce

Voxer Tips For Realtors

Voxer Tips For Realtors

Tip For Anyone On Gmail – Try Boomerang for Gmail. I love it! It allows you to:

  1. Write messages now and schedule them to deliver at any time, even when you don’t have an Internet connection.
  2. Schedule messages to automatically boomerang back to the top of your inbox at a later time, so that no messages will ever fall through the cracks.
  3. Remind yourself to follow up with people who don’t respond within a certain amount of time. You’ll never forget to follow up again.

Voxer Tips For Realtors

  1. Voxer upgrade gives you Group and Broadcast capability
  2. Set Alerts in Settings
  3. Set Tap to Talk
  4. Set Audio Overlap – People can talk and be heard while others are talking
  5. Set Voxer button position right or left in Preferences
  6. Add existing contacts & invite new contacts
  7. Several other convenience and notification settings

Creative Voxer Ideas For Realtors

  1. Communicate with individual sellers
  2. Communicate with individual buyers
  3. Communicate with your VIP Inner Circle of Agents
  4. Communicate with your Personal Buyer MLS
  5. Communicate to your sellers in a Broadcast Group (Note that they will see each other’s names and could communicate separately so make sure they all love you!)
  6. Communicate with your real estate team in a Group chat
  7. Communicate with your title officers and lenders
  8. Communicate with home inspectors
  9. Communicate with your broker/manager
  10. Communicate with friends and family individually or in Groups
  11. Communicate with your kids, young and old
  12. Communicate with your child’s teacher
  13. Send text messages, photos, links and attachments

“The single biggest problem in communication

is the illusion that it has taken place.”

-George Bernard Shaw

The Difference And The Why – Part I

The Difference And the Why

Everyone knows that it is important to be different in business. What most people don’t know is the importance of having a compelling “why,” one that consumers will understand can make a difference to them.

When everyone says “choose me, I’m the best,” no one believes it. Find a way to do things differently than everyone else. Catch their attention. Explain your “why” so people can clearly see your difference.

The Difference And The Why – Part II

The Difference & The Why

Yesterday’s Voxer was about the importance of having a “why” to justify your difference. Today’s Voxer provides more depth and two examples of how you might use “The Difference & The Why” in real estate.

First, there are two important “whys” that should accompany every difference.

The first is the “benefits why,” why your particular difference benefits the customer (in our case, home sellers – in Kash’s case, appliance/carpet customers).

The second is the “believability why,” why the customer should believe what we say since our competitors usually stress that they offer the same benefits we do.

Kash’s “benefits why” was lower price, an obvious plus to consumers.

Kash’s “believability why” was selling carpet and appliances from a barn in South Lebanon, Ohio. Since his costs were lower, it was believable to potential customers that they could save with Kash.

Two examples of how to apply this in real estate with your “benefits why” being a higher price for sellers:

  1. Buyers value homes based on three primary considerations; functionality, community and badge of honor (pride in owning the home). Demonstrating to home sellers that you know and can pitch their neighborhood better than any other agent makes them logically believe that the difference you profess to have over other agents (selling their home for more) is true.
  1. Since buyers pay more for homes they think have fewer days on the market (DOM), sellers logically see that you premarketing their home prior to submitting it to MLS, and keeping the perceptive DOM low, makes the difference you profess to have (selling their home for more) credible.

“For every credibility gap there is a gullibility gap.”

– Richard Cobden

Your Marketing Partner

Your Marketing Partner

You should have a Marketing Partner (MP) whose singular purpose and job mission is to generate and schedule you on at least one listing appointment per day. They should, as the saying goes, “live, die, eat and sleep” you having at least one appointment each day you choose to work.

Examples of what they do:

  1. Call on expired listings first thing each morning, using a lead source like RedX or one of many others. Consider having your MP use the three-part expired listing talk track I recorded for you in previous Voxers. It works.
  2. Call on FSBOs each day using the “can’t say no” FSBO talk track I recorded for you in previous Voxers. It works.
  3. Personally distribute your community “Upcoming Events” bulletin into your farm area once a month.
  4. Spend at least an hour a day participating through your LinkedIn profile in LinkedIn groups likely to be frequented by homeowners in your area. I explain how to generate seller leads through LinkedIn in a previous Voxer.
  5. Follow the 10+10 Promo card process, handing out at least 10 of your promo cards every day.

How should they be paid?

  1. Minimal hourly wage, maybe $12/hr.
  2. A small spiff on every listing appointment they set for you where you actually make an in-person presentation to someone genuinely interested in selling (maybe $50-$100).
  3. A significant spiff on every listing that converts to a sale (maybe $150-$500, depending on price range).
  4. In many states, the MP will not need to be licensed because they are not listing, selling or advising consumers. Also, many states prohibit sharing commissions with unlicensed individuals, so it’s important to make any spiff you pay upon sale unrelated to the amount of commission you receive on the transaction (or whether you even receive a commission).

“Sooner or later, those who win are those who think they can.”

– Paul Tournier

8 Tips To Better Emails

8 Tips To Better Emails

My tips are taken from an excellent article by Emma Fitzpatrick at

http://exclusive.multibriefs.com/content/heres-how-to-craft-the-perfect-email/marketing.

  1. Send your emails early in the morning or at lunch time to increase the open/response rate
  2. Short subject lines (between 61-70 characters) result in the highest open rate
  3. Write in simple, short sentences as if you’re writing to a third grader
  4. Use a readability tool like Hemingway Editor to improve your grammar and readability
  5. Ask between one and three questions and you’re 50% more likely to get a response
  6. Make your emails brief (between 50-125 words is best)
  7. Emails with opinions, positive or negative, get a 10-15% better response
  8. A few words that make emails more interesting-  Great… Wonderful… Delighted… Pleased… Bad… Hate… Furious… Terrible…

“To live is to be musical, starting with the blood dancing in your veins.

Everything living has a rhythm. Do you feel your music?”

– Michael Jackson

Shifting The Risk To Get Your Offer Accepted

Shifting The Risk To Get Your Offer Accepted

Many of the agents I coach are in sellers’ markets (more demand than supply for affordable homes). While listing agents are always in control, in hot markets they are really in control. (All the more reason to focus on listings.)

If you are trying to help a buyer buy in a hot market, how do you maximize the probability of making it happen? Here is one strategy I’ve used:

  1. First, if your buyer needs a loan, you already know to have a pre-qualification email/letter available to show the listing agent/sellers.
  2. But a smart listing agent knows that every pre-qual comes with lender conditions and can be withdrawn at any time.
  3. So a pre-qual is never a guarantee of funding for your buyer.
  4. If you’re in a multiple offer bidding war, the seller may have all cash or no financing offers that make your offer less desirable because it’s not a sure thing.
  5. Or, even if you’re not in a multiple offer scenario, you may need a strategy to make the sellers agree to a price slightly lower than they optimally prefer.
  6. Think about recommending to your buyers that they shift some of the risk of not closing away from the sellers.
  7. Ask your buyers if they are confident that they will obtain the loan.
  8. If so, suggest they consider making some or all of their earnest deposit nonrefundable should they be unable to obtain a loan and close on the home.
  9. You could soften it a bit by adding that the deposit is nonrefundable if the loan isn’t obtained, except if the home doesn’t appraise for the purchase price.
  10. The idea is to put the sellers in a “can’t lose” scenario by shifting the time off the market risk to your buyers.
  11. If your buyers don’t close, the sellers still win because they keep enough of the deposit money to justify their time off market, and still have a good market to quickly resell the home.

“There is nothing so uncertain as a sure thing.”

-Scotty Bowman

The E-Myth For Real Estate

The E-Myth For Real Estate

In his book, The E-Myth Revisited, Michael Gerber observes that small business owners start a small business with what he calls “the fatal assumption.”  It’s a mistake made by bakers, musicians, writers and Realtors, people who are excellent at doing the technical work of a business (like selling real estate) and who go into business for themselves and because of it, from day one their business is doomed.

That Fatal Assumption is that when you understand the technical work of a business (like how to sell real estate) you understand how to run a business that does that technical work.  The fact is it just isn’t true. Doing the technical work of a business and operating a business that does that technical work are two completely different things.

Gerber suggests that knowing how to do the technical work of a business is often the greatest liability for new business owners. I suggest that this is 100% true for Realtors. Why?  Because if they didn’t understand the technical work of their business they’d be forced to focus their time on making their business work. In other words, they would hire agents to do the listing and selling, and they would work on making the business grow and prosper.

As applied to real estate, the lesson is not to just think of your business in a linear way, only as a technician… waking up each day believing that your only job is to list and sell real estate. According to E-Myth, that’s only one of three important jobs you need to fill.

  1. Entrepreneur – The visionary who comes up with new ideas and strategies to differentiate and improve the business. The entrepreneur is the innovator, always questioning, asking “what if” …what if we did this, what if we did that. The entrepreneur provides the team with a mission and defining vision…the bigger “why” the business is special.
  2. Manager – The person who integrates the ideas and strategies into the business and makes everything about the business run flawlessly.
  3. Technician – The person who does the day to day work of the business, like listing, selling, marketing, etc. for a real estate businesses, the legal work in a law firm or the cooking in a restaurant.

A note about the “Entrepreneur” most don’t understand.

The true Entrepreneur doesn’t care whether a business sells shoes, builds houses or sells real estate.  The entrepreneur is interested in one single thing: how to leverage minimum capital into maximum profit in the least time at the lowest risk.

Today’s takeaway?

You are the owner of a real estate business. As a business owner, you need a balance of three critical skills; entrepreneurial, managerial and technical. When this gets out of balance your real estate business will not grow and may likely fail.

The good news for you: Real Estate Mavericks was founded to be your entrepreneurial partner, to help you with new ideas and strategies that allow you to concentrate on what you do best, representing clients in a remarkable way.

“Knowing how to do the technical work of a business doesn’t mean

you know how to build a business that does that technical work.”

-Michael Gerber         

Beef Up Your Listing Tool Belt

Beef Up Your Listing Tool Belt

Remember the awesome living room scene at the end of the movie Jerry Maguire?

“I was good in a living room. Send me in there, I’ll do it alone. And now I just… I don’t know…”

That’s what I used to feel like when sellers didn’t sign up with me on the first listing appointment. So I developed an array of listing tools to make sellers say, “You had me at hello. I’ll list with you.”

Here are seven great listing tools.

I explain each in the audio.

  1. 29 Day Fast Sale Plan
  2. 990 Opportunity
  3. 990 + 29 Day
  4. Agent Disabler – I have better neighborhood knowledge
  5. Selective Co-Broke – I’ll pay the 2-3 other agents you are considering the full commission if they find the buyer (as though it was their listing)
  6. Selective Advertising Right – I’ll give the 2-3 other agents you are considering the right to advertise your home (as though it was their listing)
  7. Cancel if you’re not thrilled

If you don’t get the listing on the first appointment, remember:

  1. Ask the sellers for a commitment to call you before they list with anyone else.
  2. Be sure to call them back with something important you “forgot to mention.”

“I believe that people make their own luck

by great preparation and good strategy.”

-Jack Canfield

The Law of Large Numbers – If You Can’t Be #1, Be #2

The Law of Large Numbers-

If You Can’t Be #1, Be #2

Do you know the story of Harry & Sam? Harry, is the greatest listing agent in the world.

Bold and assertive, Harry always knows what to say, precisely the right words to take listings day after day.

Sam doesn’t have Harry’s magical gift for saying just the right thing at just the right time or listing every home every time. No matter how hard Sam tries, home seller after home seller, Harry out-lists Sam every single time.

Discouraged, Sam picks up a book he’s been meaning to read just before bed. It’s called How To Swim With The Sharks Without Being Eaten Alive by my partner and friend, Harvey Mackay. Before falling asleep Sam makes it to page 44 – and his fortunes change from that moment on. It’s only one paragraph –  but to him it’s the best sales advice of all time.

It explains that while insurance companies don’t know who will die each day, they prosper through statistics, by knowing how many people will die each day.

It’s called The Law of Large Numbers and real estate agents should leverage it too.

The idea is to stay in touch with and coddle every home seller who chooses another agent over you. If you can’t be #1, be #2. Remember, not all homes sell the first go ‘round. Listings expire. Sellers become disappointed. So why not stay next in line?

Of course, your communications with these home sellers, who initially said no to you, should never suggest or imply that they leave their current agent to list with you. You simply stay in touch, keep it personal and stay in the background.

Some agents take a home sellers’ decision to list with another agent personally, get mad or get their hurt feelings and stop communicating with those sellers. That’s silly. It’s business.

Some agents think that when home sellers list with another agent the NAR Code of Ethics prohibits any further communication with those sellers. This is not true. It only prohibits interfering with the business relationship between the seller and the agent they chose; such as suggesting to the sellers that they made a bad decision.

There is nothing wrong with continuing to nurture a relationship with sellers who don’t list with you. Send them nice personal notes not related to the sale of their home. You could send them Roseann’s Save Your Sanity Moving System for when they move or my L4X Speed Learning System if they have kids in school.

My point is if you can’t be #1, be #2. Over time, just like insurance companies, the numbers will start working for you.

“Cloudy skies eventually turn blue

for the patient listing agent who stays number two.”

What Is Your Personal Backstory Theme

What Is Your Personal Backstory Theme?

Background:

The “formal” listing presentation usually happens in the living room or at the kitchen table after the sellers take you through the home.

This kitchen table presentation is when you give the sellers three compelling reasons why you and you alone are the single most qualified agent to sell their home at the highest possible price, having nothing to do with your 29 Day Home Launch Formula, 990 Opportunity or other unique home selling process.

Examples of why you are the best qualified agent to sell a particular home might be your knowledge of the neighborhood and ability to sell Its value better than any other agent or your negotiations skills. You would give the sellers a few examples of the negotiating techniques you use (i.e. seller fight story on counter offers and creating social proof by aggregating showings).

The kitchen table presentation is also where you explain your 29 Day and 990 Opportunity processes for selling their home at the highest possible price.

Your Personal Backstory, The Point of This Voxer:

Before you start this kitchen table presentation, you should share your personal backstory; why real estate means more to you than a commission check.

While your personal backstory must be authentic and true, it can be delivered more powerfully if you “package it” in one of the proven backstory formats.

The most effective backstory formats are:

– Epiphany – Something happened, one compelling event, that made you realize that serving others in real estate should be your destiny.

– Curation – The decision to be in real estate evolved over time. Perhaps you grew up in the business (like I did) and observed the importance of helping people buy and sell homes.

– Reluctant Hero – You really didn’t intend to make real estate your career, but your friends and relatives always said that you should because of your loss & redemption (you fell on your face in some area of your life and came back strong in real estate).

– Underdog (David & Goliath story)

– Ascension (Horatio Algier hard work, rags to riches story)

– Revenge (A get even story)

Thaw, with her gentle persuasion, is more powerful than

Thor with his hammer. The one melts, the other breaks into pieces.

– Henry David Thoreau

Four Steps To Drip Email Success

Four Steps To Drip Email Success

You meet new people virtually every day. Obviously, you’d like them to buy or sell their next home through you. So what’s the best way to maximize the chances it will happen? It’s a four-step process every Realtor should follow, tweak and improve.

STEP 1– Be skilled at delivering your natural and intriguing “elevator speech” response when others ask what you do. For example, I often say, “It’s not what I do, it’s why I do it.” People I meet are always caught a bit off guard by that unusual response and ask, “Why do you do it?” (not knowing what I do). I reply something like, “Because so many home sellers sell their homes for thousands less than they should, I developed a marketing strategy that actually sells homes not just for what they’re worth, but for more than they’re worth.” As you might guess, that usually causes people to want to know more, so I explain my 22-Step Home Launch Formula and/or my 990 Opportunity. You would say you use the process to sell homes. I say I teach it. The point is to get people engaged.

STEP 2- Have a powerful reason why people should give you their business card or contact info. A good way to make this happen is to have a compelling giveaway that can be delivered by email, something irresistible you offer to email to each person you meet. It doesn’t have to be real estate-related, and often it is better if it isn’t because people only tend to be interested in real estate when they are buying or selling, which only happens every few years. The best giveaways are something anyone would want, so virtually everyone says “absolutely,” and happily gives you their contact info. This giveaway is called an “ethical bribe,” meaning people willingly give up their name and email address to have what you offer. Some of my best ethical bribes have been my book, How Fathers Change Lives, my L4X Speed Learning System, and my wife Roseann’s Save Your Sanity Moving System. Your ethical bribe doesn’t have to be something you personally create, just something people would want and realize they are not likely to find elsewhere.

STEP 3- Once you have a person’s contact info, they should be entered into an auto-response drip email campaign. This simply means you prepare an ongoing email sequence set up in a system like Infusionsoft, Constant Contact or MailChimp. Every time you enter a name and email address the pre-programed email sequence starts automatically with the first email in the string. If you don’t know how to do this, there are people who do. In my opinion, one of the best is Jennifer Hudye. If you’d like her contact info, email help@archive.realestatemavericks.com and reference her name.

STEP 4- This is your “list” and it’s precious. Become a trusted source of inspiration, entertainment and valuable information your community can’t easily find on Google, ideally delivered in short, easy to read once a week emails. Be personal, genuine and for gosh sake, don’t be boring. Shorter is better, between 65-125 words in the email, sometimes with a link to a great download or fascinating (short) video. It’s okay and probably preferable to cover multiple topics. The key is immediate relevancy to the ambiguities, problems and challenges we all face.

SUPER TIP  One of the best sources of fantastic sharable information is Eric Barker’s blog, “Barking Up The Wrong Tree.” Here’s the link: http://www.bakadesuyo.com/blog/

Today’s quote is from a song by Sting.

“To search for perfection is all very well,

but to look for heaven is to live here in hell.”

Truth is, you don’t have to be the best at what you do, you have to be the best at showing your prospects how you will make their lives better.

Should List Price Be Part Of Your Listing Presentation?

Should List Price Be Part Of Your Listing Presentation?

Covering comparable sales with home sellers is an important part of most Realtors’ listing presentations. The goal is to establish a listing price and a probable selling price. Could there be a better way?

While I always took “comps” to listing appointments, I did so because I knew sellers would be curious about similar sales and because they expected it. I did my best, however, to separate any discussion about the comps and pricing of the home from my actual listing presentation.

One huge downside to pricing discussions with home sellers is the likelihood that it could turn into a “bidding war” with other agents, where each tries to “one up” the others by saying the home is worth more. Obviously, this is a horribly unprofessional way to convince sellers to list with you. It virtually guarantees the home will be grossly overpriced, meaning your listing is more likely to expire. It also pretty much guarantees the sellers will end up selling for less than they should because “time on the market is death to the price of a home.” In other words, it’s a bad deal for everyone.

So how do you avoid making pricing part of the listing appointment and, more importantly, part of the sellers’ decision to list with you? Recommend the sellers pay for a “top dollar appraisal.”

Most sellers don’t know that appraisers can ethically appraise homes at a maximum probable sales price, high end of the comps value. Remember this terminology: “Maximum probable sale price, high end of the comps value.” As you know, every home’s value falls within a range of value. Just as appraisers can appraise at a “quick sale” price (low end of the range of value), they can appraise at a “maximum probable sale price” value. It simply depends on the instructions provided.

I worked with the same appraiser for over 20 years, and because I gave him so much business, he gave my clients a great deal on the cost of an appraisal.

The advantages of doing this are:

  1. It enables you to compete for the listing based on your selling strategy, not on pricing.
  2. It gives the sellers a realistic assessment of the highest price they can expect.
  3. It helps you list homes at more realistic values.
  4. It is a great tool to influence buyers to pay a higher price.
  5. It can be influential in justifying the appraiser for the lender appraising at your sale price.
  6. It distinguishes you from other agents because most don’t suggest this idea to sellers.

Note – Most states have guidelines for appraisers, so consult a local appraiser on his/her flexibility to provide “top of the comp range” appraisals. Also, negotiate a special price for your clients.

“Every great inspiration is but an experiment –

though every experiment is not a great inspiration”

– Charles Ives

A Condensed 29 Day Formula

A Condensed 29 Day Formula?

Some Maverick Agents, particularly those in super-hot sellers’ markets, have asked for advice on how to reduce the number of pre-MLS marketing days in our 29 Day Home Launch Formula. So here it is. First, understand why I made the plan 29 days. The purpose is to allow one week to market the home in five different ways, one marketing strategy each week. Here’s what that looks like in a nutshell:

  1. VIP Inner Circle & Personal Buyer MLS (the week prior to day one of the 29 days)
  2. Neighborhood Week (week after first showing Saturday)
  3. Online Week (the following week)
  4. Print Media Week (the following week)
  5. Last Chance Week (final week of marketing prior to last Saturday showings & Sunday evaluation day)

So how might the 29 Day Home Launch Formula look in a condensed format?

  1. The first showing day (pre-MLS) is the second Saturday after you list the home.
  2. Depending on the day of the week you list the home, you will have at least 8 days, and as many as 13 days, to pre-MLS market.
  3. For example, if you list the home on a Wednesday, you would have Thursday, Friday, Saturday, Sunday, Monday, Tuesday, Wednesday, Thursday and Friday (9 days) to market the home to generate showings for Saturday.
  4. This means you would do your Personal Buyer MLS and VIP Inner Circle of Agents, online, print media & neighborhood promotions, all during the 9 days leading up to that second Saturday, with the goal to generate as many showings as you can, a half hour apart (remember Cialdini’s second principle of persuasion, “social proof.”)
  5. The Wednesday prior to the Saturday showings would probably be a good day to erect the “Last Chance” yard sign.
  6. Generate as many showings as you can on that second Saturday.
  7. Evaluate offers (if any) and discuss pricing with the sellers on Sunday following the first showing day (Evaluation Day).
  8. Submit the home to MLS on Monday.

11 Day Home Launch Formula Example

  1. For fun, a creative way to do this might be to make it an 11-Day Home Launch Plan (that’s a memorable, catchy number of days).
  2. You would do this by always making the effective date of the listing on Thursday, no matter which day of the week you meet with the sellers and have them sign the listing agreement.
  3. It is common in contracts to have the effective date of the agreement (the beginning date for doing what the contract contemplates) be different from the actual execution date of the contract. In most states, with a listing agreement, this means you would not be allowed to actually market the home prior to the effective date of the listing, but you could do the photos and other preparatory steps so you are ready to blast into the marketing effort on Thursday, the effective date.
  4. NOTE – I am not suggesting that you vary from the 29 Days, but I believe it’s important for you to see that the core strategy is pre-MLS marketing of homes, and “29 Days” itself can be shortened or lengthened to suit the circumstances.
  5. For example, maybe your sellers prefer not to be out of MLS 29 days, or maybe market conditions are so hot that a more compressed marketing period makes sense, or maybe your broker prefers that you shorten the process.
  6. Okay, now for today’s quote. I see our creative Maverick strategies as “The Art of Selling a Home.” With that in mind, here it is:

“Creativity is allowing yourself to make mistakes. Art is knowing which ones to keep.”

-Scott Adams

The Green Leather Couch

Philosophy First, Purpose Second & Process Third

Philosophy First, Purpose Second & Process Third

Today’s Takeaways:

  1. On listing appointments, agents talk to home sellers about what they’ll do to sell the home, their PROCESS.
  2. You have the advantage of offering home sellers a more modern, more advanced, home selling PROCESS like the 22-Step Home Launch Formula, The 990 Opportunity or a creative hybrid of your own.
  3. The point of this Voxer is that you should not talk about your home selling PROCESS first on listing appointments.
  4. The way to make your PROCESS most compelling is to start with PHILOSOPHY, transition to PURPOSE and then finish with PROCESS.
  5. Using nutrition as an example, you would first present the PHILOSOPHY of compromising on the quantity of food and sugary taste to benefit overall health, with the PURPOSE of living longer and feeling better, and the PROCESS being to eat a specific schedule of the most nutritious foods in smaller, more frequent meals.
  6. In most any type of selling, it’s more impactful to present in that order; PHILOSOPHY, PURPOSE, PROCESS.
  7. You will give a more effective and persuasive listing presentation if you do the same.
  8. In the Voxer audio, I give you a sample of how to present our 22-Step Home Launch Formula with PHILOSOPHY first, PURPOSE second, PROCESS third.
  9. And don’t forget my advice from a previous Voxer, when you sit down with the sellers in the kitchen or living room to begin your listing presentation, start with your personal backstory, why real estate means more to you than just a commission check.
  10. People do business with people they like and trust. Make the home sellers start to like and trust you by letting them see into your heart, your life, and your bigger purpose each day.
  11. Also don’t forget the personal brochure I recommend each of you create and have pre-delivered before you arrive for the listing appointment. It’s designed to accomplish the same purpose, allowing sellers to start to get to know you before they even meet you.
  12. But the key point of today’s Voxer: PHILOSOPHY first, PURPOSE second, PROCESS third.

Today’s quote (one of mine):

“A problem is a set of facts compounded by emotion.

Extract the emotion. Lay out the facts. Make a decision.

Don’t look back. No decision is generally the worst decision.”

— Greg Hague

Creative Messaging

Creative Messaging

The costliest problem Realtors have is they don’t go to enough dances, that is they don’t go on enough listing appointments. Building a referral-based business is great, but it takes time. You can dramatically reduce that time, and earn extra commissions while you do it, by having a magnetic, compelling message that actually makes it hard for home sellers not to call you and learn more before they list with anyone else.

A foundation of my coaching is to help you set yourself apart with intriguing messaging on the back of your cards, on your LinkedIn profile, in your ads, everywhere people learn about you professionally.

Remember, the purpose of marketing is to make the phone ring, NOT to sell people on listing with you. So don’t say too much in your messaging, just enough to distinguish yourself, create curiosity and suggest that you can solve the challenges home sellers face… selling their home at top dollar with someone they like and trust.

I spent an hour this morning developing marketing messages focused on home sellers. The point isn’t necessarily to use any of these (although you may), but to get your creative juices flowing to spice up your seller-focused ads:

  1. I don’t care about making money, I just love to sell real estate.
  2. Don’t sell your home with an amateur. Talk with me before you list.
  3. I’m the local expert at making buyers pay more for homes with character.
  4. Learn why most homes sell for less than they could. Talk with me first.
  5. Don’t throw your home on the market like a loaf of bread. Talk with me before you list.
  6. Learn why the wrong Realtor can be a costly mistake. Talk with me.
  7. Agents with more signs often don’t sell homes for more money. Talk with me before you list with a big name.
  8. The real estate business is loaded with amateurs. You won’t be disappointed with me.
  9. Want to sell your home for more than it’s worth? Talk with me first.
  10. The costliest mistake home sellers make? Not talking with me before they list.
  11. If your home had a choice, it would choose me. Don’t forget, houses know best.
  12. If your house could choose, it would choose me. Talk with me before deciding on  a Realtor.
  13. If your house could talk, it would tell you I’m the right Realtor.  Listen to your house. Houses know best.
  14. They sell homes. I sell homes for more than they’re worth.
  15. My home selling plan is so good it was featured in Forbes.
  16. Selling your home? I orchestrate bidding wars.
  17. I make buyers fight over homes. Talk with me before you list.
  18. I’ll make your home the most sought after in town. Talk with me first.
  19. Learn why choosing the wrong Realtor can be a costly mistake. Talk with me.
  20. Want to sell your home for more than you think? Talk with me.

“Creativity is intelligence having fun.”

– Albert Einstein

Disrupt the Disruptors

Disrupt the Disruptors

Do you see the writing on the wall? Last night I learned that one of our Maverick agent’s marketing partner made 35 FSBO calls in the D.C. metro market. Startlingly, 12 of those indicated that they had already listed with Redfin. Redfin recently began advertising a 1% listing commission in that market.

This Voxer is a very brief overview of a 7 point Survival & Prosperity Plan that I will explain in detail in next month’s series of 20 Voxer audios. It will empower you to build an impenetrable and profitable wall around your demographic, a line of defense that is impervious to Redfins, discounters and other alternative real estate models. Next month is about more than surviving the disruptors. It’s about how to profitably disrupt the disruptors. This Voxer is a preview.

** (1) Define your demographic by geography, type of home or type of person

** (2) Decide you’re going to “own it.”

** (3) Build likability and familiarity.

** (4) Learn what you need to be the best in the world at serving your demographic.

** (5) Develop a unique home selling process (your product), an A-Z plan that homeowners will logically and transparently see is better than the home selling process offered by any other firm or agent.

** (6) Make your value proposition unbeatable. That doesn’t necessarily mean charging less, but rather offering home sellers an irresistible combination of quality and price.

** (7) Repeatedly market a magnetic, compelling message to your demographic that highlights your value proposition and creates a level of curiosity that makes them feel compelled to call you when it’s time to sell.

Implement this 7 point plan correctly and no other agent or firm will be able to take your market from you. You may have to adjust and improve your model as others introduce new concepts, but every business faces those challenges. The point is to get ahead of the curve now and stay there long term.

Next month I will send you a series of Voxers that dive deep into understanding every major nontraditional real estate model and how to execute on this 7 point plan to beat them at their own game…  how to disrupt the disruptors … profitably.

“Status quo, you know, is Latin for –  ’The mess we’re in.’”

– Ronald Reagan

Mavericks in History

Mavericks In History

 

Didn’t you just love it that Rosa Parks climbed on the bus, plopped down, and dared anyone to suggest she wasn’t white enough to sit in the front? There was one brave maverick in Rosa. Or how about when Steve Jobs founded a small firm, named after a fruit, and went on disrupt the computer world, improving the experience for millions of users, and overturning the arrogant elephant in the room, a stuck in the mud Microsoft? Who wouldn’t admire the Maverick in Steve?

From George Washington snubbing the British, to Davy Crockett holding the Alamo, to Elon Musk disrupting the car world with Tesla… to my maverick dad who started with no education, no contacts and no money but wouldn’t succumb to his limitations, fighting and scratching his way to success, Dad, thank you for inspiring the Maverick in me.

Think about our most admired leaders, most respected companies and most prolific inventors. They constantly strived to see what others didn’t so they could achieve what others couldn’t. Mavericks are always looking for what I call gaps in the herd, windows of opportunity that others don’t see because others blindly presume the way it is as the way it should be.

When Mavericks succeed, other’s look on and exclaim, “Why didn’t I think of that?” Mavericks have vision. Mavericks have courage. Mavericks take action. My purpose in this Voxer? First, I want to thank you for the privilege of being your coach. That means a lot to me. Second, I know being a maverick isn’t easy. There’s risk in navigating strange waters. When you try new things, everything might not work perfectly. And others might criticize you for departing from the way it’s always been done. So in this Voxer I simply want you to know how much I respect and admire the courageous, inquisitive, maverick in you.

How To Compete Against Discount Agents, Firms and Nontraditional Real Estate Models

Welcome To A Special Voxer Series:

How To Compete Against Discount Agents, Firms and Nontraditional Real Estate Models

Tonight you’ll learn:

  1. Why the Redfin website gets more homebuyer and home seller traffic than the websites of any other real estate firm.
  2. How the Department of Justice is helping Redfin and other discount firms compete and win over you.
  3. Your first step on the path to earning more, not less, in the face of discount competition.

“Never compete with someone who has nothing to lose.”

― Baltasar Gracián

How To Compete Against Discount Agents, Firms and Nontraditional Real Estate Models – Part II

Part Two – Special Voxer Series:

How To Compete Against Discount Agents, Firms and Nontraditional Real Estate Models

Tonight you’ll learn:

** Why real estate alternatives are picking up steam and why the trend is likely to accelerate.

** The danger of believing you are entitled to a specific commission because it is typical or traditional.

** How to develop a mental drawing board to improve your value proposition in light of the competition.

For those new to Voxer, you can speed up my delivery to 2X when you hit play and tap 1X once; I sound better that way.

“Real Estate, by far, is the most screwed-up industry in America” – Said by Redfin founder Gary Kelman in an interview on 60 minutes in 2007.

How To Compete Against Discount Agents, Firms and Nontraditional Real Estate Models – Part III

Part 3 – Special Voxer Series:

How To Compete Against Discount Agents, Firms

and Nontraditional Real Estate Models

 

Tonight you’ll learn:

** The good, bad and ugly about Redfin; why its model is gaining traction, why it’s generating so much venture capital to fund growth, and why it’s likely to become a major force in real estate.

** How Redfin plans to earn 3 ½% on the sale of its listings while charging a 1 ½% list side commission.

** A Redfin strategy you could implement to propel your business, distinguish you from other agents, and position you for the future of real estate.

 

“They always say time changes things, but you actually have to change them yourself.”

― Andy Warhol, The Philosophy of Andy Warhol

How To Compete Against Discount Agents, Firms and Nontraditional Real Estate Models – Part IV

Part 4 – Special Voxer Series:

How To Compete Against Discount Agents, Firms

and Nontraditional Real Estate Models

 

10 Ideas For Tweaking Your Business Model

Tonight you’ll hear:

** Ideas for tweaking your home selling process.

** Ideas for tweaking your commission structure.

** Ideas for tweaking your internal business model.

These are just a few of my ideas. The point isn’t to implement my ideas. The point is to start thinking creatively and come up with your own ideas.

Evaluate your ideas in a two prong way. Does it really, really excite you? If so, is it likely to work in your market (without giving your broker too much heartburn)?

The bottom line? Don’t let tradition block your vision, cage your ambition or make your future in real estate a shell of what it could be.

“Great minds discuss ideas. Average minds discuss events. Small minds discuss people.”

― Henry Thomas Buckle

“An idea that is not dangerous is unworthy of being called an idea at all.”

― Oscar Wilde

Real Estate Needs A Muhammad Ali

Real Estate Needs A Muhammad Ali

Today is a special Voxer. The Champ was my hero growing up. I weighed 220 pounds at 12 years old and was incessantly teased by the kids in my class. That was the year The Champ won the Light Heavyweight Gold Medal at the summer Olympics. He inspired me.

Four years later, at 16, I struggled with terrible acne, with finding dates, and with self esteem. That was the year The Champ beat Sonny Liston for the Heavyweight Title. He inspired me.

During those years of my youth it helped my self confidence to see this maverick fighter speak so boldly and act so maverick-like, not caring whether others liked him or agreed with his positions.

My admiration for Ali was never about whether I agreed with what he said or did. It was about the fact that he didn’t care who agreed with him. In the world of Mavericks, Muhammad Ali was truly “The Greatest.”

Today’s Voxer is my personal farewell to one of my inspirational heroes… and my call to action to you. Real estate desperately needs a Muhammad Ali. Is there a Maverick in YOU?

“Float like a butterfly, sting like a bee. He who is not courageous enough to take risks will accomplish nothing in life.The man who views the world at 50 the same as he did at 20 has wasted 30 years of his life.” – Muhammad Ali

Competing Against Home Buying Companies and The Holy Grail for Businesses

Competing Against Home Buying Companies and The Holy Grail for Businesses

 

Tonight you’ll learn:

** How to compete and win against home buying companies like We Buy Ugly Houses and Open Door

** Why the holy grail for any business is summarized in three words: Better, Faster, Cheaper

** About an email app for Gmail you’ll immediately download and wish you had invented

For your convenience, the eight costs mentioned in the audio are title/escrow costs on purchase, title/escrow costs on sale, commission on sale, carry costs until sale, repair costs, mistake margin, economy risk margin and 9% profit.

“The house you looked at today and wanted to think about until tomorrow may be the same house someone else looked at yesterday and will buy today.”

– Koki Adasi

 

Hey Mavericks. I got all excited recording the audio and forgot to mention the gmail app I referenced in the takeaway summary. Several of you reminded me instantly. That’s good, you’re listening! The indispensable app is called Boomerang for Gmail and allows you to make emails disappear from your inbox and reappear at the time you specify so you can deal with them later. It also allows you to compose emails and schedule them for sending at a later date. For your convenience, here’s the link:http://www.boomeranggmail.com/

Real Estate Auction Companies – Friend Or Foe? – Part 1 of 3

Real Estate Auction Companies – Friend Or Foe? – Part 1 of 3

Tonight:

** The magnetic attraction of “no reserve” auctions.

** Why perceived seller risk is higher than actual risk.

** The commission opportunity few agents know.

“Positive, adj.: Mistaken at the top of one’s voice.” Ambrose Bierce, The Unabridged Devil’s Dictionary

Real Estate Auction Companies – Part 2 of 3

Part 8 – Special Voxer Series:

Nontraditional Real Estate Models

 

Real Estate Auction Companies – Part 2 of 3

 

Tonight:

** How sellers are persuaded to advance $25K-$75K in marketing costs.

** Why auctions often flush out more buyers than the traditional process.

** The three types of buyer deposits, closing time after auction, and how every sale is a final sale with no contingencies.

** Before tomorrow’s Voxer, try to ID characteristics of the auction process that might improve your home selling process.

“A woman’s guess is much more accurate than a man’s certainty.”

– Rudyard Kipling

Happy Father’s Day – Draw a Wider Circle


Special Father’s Day Voxer –

On the Friday before Father’s Day this is a special tribute to our dads and a great lesson for succeeding in real estate.

The fabulous photo is of Lori Holden and her family. It was voted the best photo in my book, How Fathers Change Lives.

Wishing You A Wonderful Father’s Day, Greg

Luxury Home Auction Model

Tonight We’ll Explore:

** Three reasons it’s important to understand the luxury home auction model

** Four aspects of the luxury home auction model that could improve your home selling model

** Why and when it makes sense to use balanced risk deposits in contract negotiations
“Humans are herd animals. If a stranger’s bleeding to death beside the road, most people won’t stop to offer a Band-Aid. But get the ball rolling with a couple Good Samaritans, and before you know it you’ve got more eager philanthropists than you know what to do with.” – Sol Luckman, Beginner’s Luke

How To Compete Against Discount Agents, Firms and Nontraditional Real Estate Models – Part V

Special Voxer Series:

Nontraditional Real Estate Models

TONIGHT IS THE STORY YOU NEED TO HEAR FIRST

TOMORROW NIGHT we’ll explore:

** How upfront listing fees can help you win on listing appointments

** How upfront listing fees are a weapon to win over discount agents

** How upfront listing fees could improve your credibility with sellers

 

“In truth I suspect that merely slowing down is not a very satisfying answer. – Steve Goodier

How To Compete Against Discount Agents, Firms and Nontraditional Real Estate Models – Part VI

Tonight well explore:

** How printed commission schedules tend to limit fee negotiation

** How upfront listing fees can help you win over discount agents

“Money often costs too much.”

–Ralph Waldo Emerson

Rules For HOW BIG To Break Tradition

Rules For HOW BIG To Break Tradition

** If things are going fantastically, A/B test minor tweaks by giving clients A/B options.

** If you continue to try, but can’t break out of mediocrity, revamp key components of your business model.

** If things stink, get dramatic. Tonight we’ll explore dramatic!

** Do you dare try charging by the hour? $65/hour? 2% of home value cap. Three advertising options. Account with timesheets like an attorney. MC/Visa option so client can pay off card balance at closing. Average NAR member only earns $44K, a ridiculous $21 an hour at 40 hour weeks.
“The lure of the distant and difficult is often deceptive.” – My friend Bruce R

How To Compete Against Discount Agents, Firms and Nontraditional Real Estate Models – Part VII

Tonight we’ll explore:

** Thought leadership in real estate

** Why you NEED to be a thought leader

** 3 Resources to help you become a thought leader

http://www.millersamuel.com/blog/

Home

http://www.movoto.com/blog/

“Thought leadership is when a leader’s thoughts are being used by leaders to lead others.” – Anyado

How To Compete Against Discount Agents, Firms and Nontraditional Real Estate Models – Part VIII

Special Voxer Series:

Nontraditional Real Estate Models

Today we’ll explore a Canadian real estate discount model that is launching in the U.S.

**  At FeeDuck.com home sellers enter information about the home they plan to sell and local real estate agents then bid against each other.

** The agent offering the lowest commission at the end of 24 hours receives the home seller referral.

** The agents who prevails in the low bidding pays FeeDuck a fee to connect with the seller.

Articles on FeeDuck:

http://globalnews.ca/news/2248611/uber-for-real-estate-feeduck-aims-to-save-money-on-agent-commission/

http://betakit.com/feeduck-saves-home-sellers-money-by-making-real-estate-agents-compete-for-their-business/

http://roselawgroupreporter.com/2016/06/canadian-real-estate-disruptor-picks-arizona-first-u-s-market/

FeeDuck URL: https://feeduck.com/

 

“Profitability comes from productivity, efficiency, management, austerity, and knowing how to manage the business.”

– Carlos Slim