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Category: 7. Communication Styles

  • The Ultimate Sales Superpower

    The Ultimate Sales Superpower

    Last RAM, I talked about the #1 most powerful question to initiate meaningful dialogue for prospects:

    What’s your biggest reason for moving?

    Click here to re-read why this question is 10X more potent than all those other questions most agents machine-gun at their prospects.

    ____________________

    You know how I always talk about not being a Salesy Slickster? 

    Let’s be clear: You must avoid old-school manipulative sales “skills.” NOBODY falls for that crap anymore. It’s just a big turn-off.

    Rather, we need to work on actually delivering exceptional results for our clients, which is essentially what the Agent Skills Masters Program is all about. 

    But in order to deliver exceptional results, you still need “new-school” sales skills!

    It boils down to what you care about. For example, are you focused on where your next commission cheque is coming from? Or are you focused on how you can help your clients achieve their goals?

    And, assuming your my kind of agent and you’re genuinely focused on your clients, what’s the ultimate sales superpower?

    The ability to read your prospects’ minds!

    Well, that would sure be nice, wouldn’t it? But how, pray tell?

    It’s called EMPATHY. 

    But since empathy sounds like sympathy, most of us think of this as a soft skill that we all have naturally, and we don’t need to do anything to implement it. That’s dead wrong.

    Here’s how you should apply empathy to become more successful:

    Think about what your prospect really cares about. If you were them, what would you do? And why? What’s the real reason behind their “why”? What drives them? How do they get rewarded? 

    Putting focus, time, and energy into EMPATHIZING makes everything so much easier. 

    Instead of talking, pitching, persuading, pressuring… use EMPATHY. Think like they do, and watch your sales go through the roof.

    You can start by asking the right questions, such as:

    What’s your biggest reason for moving?

    Then, LISTEN carefully to the answer and probe further, always working to gain a greater understanding. That’s EMPATHY, and it’s your ultimate sales superpower.

    Thanks to Brian G. Burns for the inspiration on this RAM.

  • The #1 Most Powerful Question to Initiate Meaningful Dialogue with Prospects

    The #1 Most Powerful Question to Initiate Meaningful Dialogue with Prospects

    Module 4 in ASMP is called “The Follow-Up.” I devoted an entire module to this topic because it’s something that most agents suck at. Most just lack a simple system to follow.

    Or, their system is writing notes on scraps of paper and promptly losing them under their car seat. Have you ever found a note about a “hot lead” two weeks later? Oops! $10K down the proverbial toilet.

    This is why I include a ridiculously simple spreadsheet in “The Follow-Up” and show you how to use it. “The simpler, the better” is my motto throughout the course.

    (By the way, my entire course only costs a quarter of the last $10K you flushed.)

    Beyond the basic core principle of keeping track of prospects, most agents don’t know how to ask the right questions to nurture the relationship and create a positive atmosphere that promotes ongoing dialogue. 

    If you’re reading this, chances are you genuinely want to help people get what they want. And you understand that the more people you help, the more success you’ll have.

    But most agents don’t understand that the easiest way to succeed is to understand WHY your prospects want what they want.

    For example, when someone expresses interest in moving, you probably launch into a string of questions:

    What’s your price range? What areas are you interested in? What’s your time frame? These are all good questions to ask, eventually…

    But here’s a much better question to ask first:

    What’s your biggest reason for moving?

    When you understand their motives, you can focus the conversation on helping them achieve their wants and needs by making helpful suggestions and adding value to the discussion.

    Isn’t that far better than machine-gunning questions at them and sounding like a Salesy Slickster (even if that’s the opposite of your intention)? 

    Perception is far more powerful than your best intentions, after all.

    Next RAM, I’ll talk about some other powerful prospecting questions.

    Or, does it make sense for you to jump off the fence and sign up for my course here? You get lifetime access for a one-time fee, go at your own pace, do it over and over again if you want, and it’s 100% guaranteed. If it’s not for you, just tell me, and you get all your money back.

    It’s almost October. Now is the best time to learn some new skills, systems, and procedures and be ready to dominate in 2024!

  • Improving Business Relationships by Mastering the 4 Key Attributes

    Improving Business Relationships by Mastering the 4 Key Attributes

    Most REALTORS® believe that real estate is a transactional business.

    These agents are members of the struggling majority.

    Real estate is NOT a transactional business. 

    Real estate is a relationship-based business. 

    If you want more clients, you need to maintain your existing relationships and find ways to interact with more people more often.

    Most importantly, you need the right skills to develop trust and rapport with others.

    The most successful REALTORS® project a harmonious balance between these four key attributes:

    • Professionalism
    • Confidence
    • Friendliness
    • Authenticity

    When you watch the best of the best, this balancing act seems completely natural, as if they were born this way. But these naturals are exceedingly rare. 

    Most Masters of Relationship Selling have studied human interaction and internalized the techniques they’ve learned until they became habitual and an integral part of their personality. 

    This isn’t fakey! On the contrary, it’s consciously becoming a better version of yourself. 

    What about you?  Ask a close friend for their honest opinion. If you are not clearly projecting ALL FOUR of the key attributes in your human interactions, consider how you could improve.

    Most agents are weak in at least one of the four. What about you?

    When you are honest with yourself and you work to improve your core competencies, you’ll be surprised how quickly people become drawn to you.

    Translation: You’ll have all the business you want without ever chasing it.

    Professionalism

    Professionalism is not about how you dress or what kind of car you drive. I know plenty of snazzy-dressing, shiny-Beemer-driving agents who are otherwise entirely unprofessional.

    Yes, your car should be shiny clean, and no, you shouldn’t wear flip-flops to your listing appointment. But these things are superficial.

    It’s a thousand times more important to consistently maintain a high level of integrity and the burning desire to deliver outstanding results. 

    Having high integrity and being true to your values isn’t always easy, but it’s essential if you want to develop a reputation as a Trusted Expert. That’s my definition of a true professional. 

    But how do you achieve this?

    Professionals place high importance on improving their knowledge and skills to consistently deliver exceptional results.

    Think about it. Isn’t this the reason WHY we seek advice from a professional? For their expertise? 

    If you adopt this mindset, you’ll be paying cash for that new Beemer before you know it, rather than stretching your finances to pay a lease you can’t afford merely to pretend you’re a professional.

    Confidence

    The more knowledge you gain and skills you develop, the more confidence you will naturally exude. However, even if you feel very confident, you must determine if that confidence is coming through in your voice. Ask a close friend for feedback.

    Be careful not to overdo it! People are attracted to quiet but firm confidence—not boastfulness. 

    Here are a few tips to increase your confidence level:

    1. Always make steady eye contact.
    2. Listen to learn, twice as much as you speak. 
    3. State your opinions with conviction. To do this with sincerity, you must thoroughly understand your craft!
    4. Prepare and practice. For example, if you’ve got a newly developed listing presentation and haven’t practiced it thoroughly, you’ll probably not sound very confident.

    I’m a proponent of the Deep Practice method:

    • Practice small chunks at a time. For instance, rather than practicing your entire listing presentation all at once, just practice one segment;
    • Repetition, repetition, repetition. Do it quickly, do it slowly, do it differently. But keep repeating the action. 

    Friendliness

    Whenever you are in situations where you’re talking to people, whether on the phone or face-to-face, you want to come across as a friendly person, especially with Amiable and Expressive communication styles (half the population).

    (Read more about communication styles here: Why Certain People Drive You Crazy)

    This applies to email messages, also! Don’t overdo this but sprinkle some ‘friendly’ into your email messaging, especially near the beginning of your relationship.

    When I say, “Don’t overdo it,” I mean be aware of who you’re talking to. Many people do not react well to extremely boisterous overly-friendly people. They see it as fakey and off-putting.  

    That said, your natural friendliness is a key advantage, so use it, but if you want more success, you need to improve the other three attributes as well, and constantly seek out that harmonious balance. 

    By the way, I think of myself as a naturally friendly person, but I’ve been told by friends that I sometimes come across as grumpy and disinterested.

    This feedback has helped me have better self-awareness, so I’m more conscious about this part of my persona in both work-related and social situations.

    Self-awareness is the key to self-improvement. So, ask for feedback, be conscious of your delivery, and make adjustments as necessary.  

    Authenticity

    When you study sales techniques, being “yourself” is not discussed much, but it is highly effective in a relationship-based business, such as real estate. 

    You should always look for ways to better connect with your prospects and clients.

    This is why I hate scripts (except when memorizing the critical points of a presentation). 

    No matter how smooth you think you are, your prospects can feel when you’re reciting from a script.  

    Being genuine can’t be faked. If you’re dead honest and your clients know you have their best interests at heart, and you thoroughly understand your craft, why do you need a script for anything?

    Besides, it’s much more fun and satisfying to be yourself and speak to your clients in the same way as you would a friend.

    Conclusion

    In case you’ve never heard this before:

    People do not particularly like salespeople.

    So, don’t be a Salesy Slickster.

    Instead:

    Be a friendly, professional, confident, authentic provider of valuable information and expertise.

    (The above is a severely hatcheted version of Module #6, ‘Relationship Selling,’ in the Agent Skills Master’s Program.)

  • 6 Ways to Build a Strong Bond of Trust with Clients

    6 Ways to Build a Strong Bond of Trust with Clients

    Liars and cheaters tend to be distrustful of others. It’s a reflection of themselves.

    Conversely, honest, trustworthy people tend to assume that others will trust them implicitly. But this is a mistake!

    Trust is earned. It takes time and purposefulness to build trust with clients who don’t know you as your friends and family do. 

    If you want success, your clients need to believe in their hearts that you genuinely care about their success. They need to know that this is not “just another transaction” for you.

    Here are six reminders of how to build a strong bond of trust with your clients:

    1. Take your time to get to know your client and learn what makes them tick

    If you’re in a mad rush all the time, your clients will perceive that you don’t have enough time for them and you don’t really care. So slow down! 

    Allow a little more time at the beginning of the relationship to sit and listen and envision how you’ll be able to fulfill their needs. Remember that everyone is different.

    2. Be responsible and respectful

    Timely and proactive communication is vital to your relationship. Clients must have confidence that they can rely on you to provide the information they need. Speak plainly and honestly to demonstrate that you always have their best interests at heart. 

    For example, you may not think that sending frequent updates about minor things is important, but your clients most likely do.

    3. Be yourself

    It’s hard to connect with someone who is all business all the time. So don’t be that person! Look for topics of mutual interest, whether it be sports, hobbies, the latest Netflix series, or whatever. 

    This will not only promote the feeling of a “partnership,” but it also makes your relationship more fun! 

    4. Be dead honest 100% of the time

    If you think your client is making a mistake, tell them. Yes, you will occasionally talk yourself out of a sale, but building a reputation as a trustworthy person is worth far more than any single sale. You’re in this for the long game, right?

    If you make a mistake, be quick to admit it, apologize, and be prepared with a plan on how to move forward. We all make mistakes occasionally, but it’s how you deal with your mistakes that proves your trustworthiness.

    5. Go above and beyond

    If your goal in business is to create a never-ending stream of incoming referrals, know this: Mere competence doesn’t cut it. You need to do more. But it doesn’t take much!

    It’s the little things you do differently than others, done consistently, that make people stand up and take notice.

    6. Take the time to check in and make adjustments

    We’re in a relationship-based business, so take the time to check in with your clients and ask them… about the relationship! 

    How are they doing? And how are you doing? Is there any additional information you could provide? Is there anything you could do better?

    If they have feedback, make sure you listen to understand and make adjustments moving forward.

    Developing a strong bond of trust with your clients is easier than you might think. The key takeaways from this RAM are being more aware and taking more time to devote to the relationship.

  • 7 Things to Tell Your Stressed-Out Buyers

    7 Things to Tell Your Stressed-Out Buyers

    In my local market (Calgary), we are experiencing the lowest inventory levels since 2006, with absorption rates well over 100% (less than a single month of inventory) in many segments.

    This means every decent property listed at a reasonable price gets snapped up, often well over asking, which can obviously be super frustrating for buyers.

    (If your local market is different, please read on anyway. The underlying message here is about improving communication, regardless of market conditions.)

    Recently, after a showing, one of my newer buyer clients told me, “Hey, we’ve been thinking. We’re not in a hurry, so we’re going to back off for a while and wait for the market conditions to cool down, and then we’ll get back at it.” 

    Oh, oh. Time for a talk! I suggested we stop at a nearby coffee shop for a quick chat, and they agreed. The following is, in essence, what I told them:

    1. “I completely understand how you feel. This is highly stressful for everyone, and sometimes it must feel impossible to succeed.

    2. However, by the time the market cools down, prices may have gone up 10% or more, so if you back off now, you will have completely missed out on this gain! 

    (These clients were looking around the $500,000 range, so I put it into numbers – $50,000 – which is more impactful.) So rather than missing out on a $50,000 gain, consider doing this instead:

    3. Accept the situation. It is what it is, and you (or I) can’t change it.

    4. Think about viewing properties as “doing your homework.” You need to see properties to get a feel for the market and be confident to act when the right opportunity presents itself. This will give you a significant advantage over competing buyers. Believe me, the clients who have done their homework are always the winners in a competing offer scenario.

    5. Know this: Viewing properties is my favourite part of my job BY FAR, so please NEVER worry about “wasting my time!” (This is 100% true.) Even if we know you’re just doing your homework and you’re definitely not going to write, this is all part of the process, and I’m absolutely fine with it!

    6. Keep an eye out for every property that pops up on your search, and if it looks good, let’s book a showing ASAP. Time is of the essence, and the early bird often catches the worm. So if it’s a good property offering good value (I’ll be able to tell you), let’s go ahead and submit an offer! You probably have little to no leverage in negotiating a better price on the first day on the market, but it’s better to pay the full price today rather than 5% over tomorrow. 

    Of course, this depends on how well-priced the property is, which is all the more reason to do your homework. 

    7. If you miss out on one (or two or three), try not to despair! I’ve had numerous occurrences this year where we’ve successfully got a great property after a few tries. 

    In summary, be both diligent and calm!

    Don’t give up, but don’t stress yourself out, either. Hey, I can handle the stress for both of us. I’ve done this a thousand times.

    And remember, I ❤️ looking at properties. So call me. Please!”

    That’s the essence of what I told them, and by the end, they were right back on board, and I’m sure we’ll find them a good property soon.

    Think about it this way: If your clients are thinking the wrong way (to their own detriment), it’s probably your fault. They need better guidance. Maybe it’s time to take them out for a coffee and a talk!

  • Get Control of Your Email with the Five D’s

    Get Control of Your Email with the Five D’s

    Last RAM, I talked about The Basic Foundational Skill of Responding to Messages. 

    We agents get messages from multiple sources, of course, but it’s email where most of us have a colossal organizational problem.

    Do you know how often I email another agent whom I know and respect, yet I never get a response? Way too often! 

    I follow up with them, and they provide the standard excuse. “Oh, sorry! I missed that somehow!” but I know precisely how.

    It’s because their inbox is a Giant Black Abyss ⚫. Emails go in and get devoured, never to be seen again. 

    If you have a Giant Black Abyss ⚫, I guarantee you’re losing business from potential clients, and you’re completely unaware of it. So here’s an idea: How about taking a break from chasing “crappy leads” and repairing this very real problem first? Like, right now?

    Within this RAM, I’ll explain how to eliminate your Giant Black Abyss, but first, you need to learn the Five D’s:

    1. DO – Respond immediately (whenever you are working in your inbox). If it takes less than two minutes, just DO it! If you respond but still require a follow-up, make a notation in your tasks list, calendar it, or simply leave the email in your inbox as a reminder to yourself. Otherwise, DELETE or DESIGNATE.

    2. DELETE – If you’re done with an email and know you will never need the information again, DELETE it. You should also ruthlessly unsubscribe to useless emails you never read. If it’s information you might need in the future, DESIGNATE it.

    3. DESIGNATE – File emails containing important information in different folders and sub-folders so you can locate them more easily in the future. For example, I have two big folders – Active Clients and Inactive Clients (completed deals) – and a sub-folder under each of those Master Folders for every client. This is where I keep ALL the emails I get pertaining to any one of my clients.

    4. DELEGATE – Forward the email to someone else; your assistant, your bookkeeper, another agent, or whoever is going to take care of it. 

    5. DEFER – If you’re working in your inbox and you’re short on time, simply start a reply and then leave it. Purposely use your Drafts Folder for each email that requires a response but is not urgent. Now, the next time you come back to work in your inbox, your Drafts Folder acts as a sort-of “To-Do” list.

    Can you see how these rules will help you regain control over your inbox, Jim-Bobby?

    Now, what about the Giant Black Abyss ⚫—the backlog of 29,500 emails you’ll probably never look at again for the rest of your life? 

    Simple: Make an archive file and move over ALL of your old emails; at least everything up to the end of 2022. Do you really need emails from last year in your inbox? No, you do not.

    Note: I said archive, not delete. You might need to access one of those ancient emails in the future, so don’t worry; you’re not throwing them away!

    After you’ve completed archiving, set aside an hour or two to power through the remaining emails in your inbox using the Five D’s. You can DELETE a lot of them!

    DESIGNATE most of the remaining to various Folders and Sub-Folders that you can set up as part of the clean-up process.

    Then, simply remember to use the Five D’s from now on!

    Bonus: Here’s a sixth D, and possibly the most important one for many of you:

    6. DON’T be a slave to your inbox!

    Turn off notifications, and learn to work on emails frequently in short bursts. You’ll be surprised how many emails you can burn through in 15 minutes when your inbox isn’t a Giant Black Abyss ⚫.

    Using the Five D’s, you can easily manage the 10-50 emails in your inbox. Yes, that’s all I typically have in mine, and there’s no reason you can’t too. 

  • The Basic Foundational Skill of Responding to Messages

    The Basic Foundational Skill of Responding to Messages

    In the last two RAMs, I talked about how to Keep Track of Your Prospects and How to Follow-Up with Them. 

    Sometimes I think these basic topics are too… basic. But I was surprised at the volume of positive feedback I got in the last month from experienced, skilled agents who simply needed a little direction on setting up a simple system of their own. 

    Having simple but effective systems and procedures is the foundation of success!

    That said, let’s go deeper into the core of this idea (simplicity) and talk about something that drives me crazy about so many REALTORS®. 

    There are way too many agents who are constantly looking for new sources of “leads” while, at the same time, they completely ignore their own inbox. They’ve got people reaching out to them, but they can’t be bothered answering if they don’t see an immediate payoff.

    This is a terrible attitude! If you’re feeling a twinge of guilt as you read this, it’s time to make a positive change.

    You can’t predict where your future business is going to come from!

    But if you can establish yourself as a reliable and responsive ‘provider of information,’ you’ll be shocked at how this pays off over time. Business starts flowing in from the most unexpected sources (not always directly from the person you responded to).

    When I was doing over 100 deals per year and earning $800K+, was I too busy to answer all the inquiries in my inbox (inbox = email or any other form of messaging)?

    Not on your life! On the contrary, I regarded my inbox as the engine of my business. Did I pick and choose who I responded to and who I didn’t?

    Nope! In fact, I have a self-imposed hard rule that has served me well my entire life. Here it is:

    Answer every inquiry as quickly and as thoroughly as can be reasonably expected, whether you think it will result in future business or not. 

    (Excluding spam, of course.)

    A hard rule means there is no “if-then” function. You don’t need to think about anything besides simply answering the inquiry. 

    If this isn’t a hard rule for you, I strongly suggest adopting it! Right now!

    Think about it this way: Every time you don’t bother to answer an inquiry, even if it seems unimportant or irrelevant, someone on the other end thinks a little bit less of you. That’s bad karma.

    Every time you do answer an inquiry (no matter how trivial), someone thinks a little bit more of you, or at the very least, their positive feelings towards you remain intact.

    After a while, you may be surprised that you no longer need to think about sourcing and (yuck!) paying for crappy leads ever again.

    You’ll get to that nirvana state—a never-ending stream of incoming leads!

    I’m not saying that this hard rule on its own will magically create your never-ending stream. But it’s a foundational component. It was a crucial part of my past success, and it remains a hard rule for me to this very day.

    Never underestimate how the little things can have a massive impact on your reputation and your business.

  • 5 Critical Topics to Discuss with Every Buyer

    5 Critical Topics to Discuss with Every Buyer

    One of the most common mistakes REALTORS® make is not scheduling time to discuss the fundamentals with their clients. We tend to forget that we do this stuff every day, but our clients do not!

    Then, when the client goes off track (in one of a multitude of ways), we blame them. Damn clients! They should have asked me!

    News flash: It’s not their fault. It’s your fault for not educating them ahead of time. 

    When it comes to new buyer clients, I recommend scheduling a meeting with them as soon as possible in the process. If this isn’t practical, figure out a different way. For example, it could be in your car in-between showings. 

    I know it’s old-school to drive your clients around in your car, but old-school doesn’t automatically mean it’s wrong. On the contrary, I find that “car chatting” time is invaluable for developing rapport and loyalty with new clients, even if I only do it the first one or two times.

    If it’s not a scheduled meeting (best) or in your car (second best), figure out another way; maybe it’s just a simple phone call. Just don’t forget to do it, or you’ll be sorry! 

    You don’t believe me? You must be new…

    Every experienced agent can tell multiple stories about losing buyer clients (and tens of thousands in lost commissions) because we didn’t take a few minutes to educate them on the fundamentals.

    #1 Establish Wants and Needs

    This is the first topic you need to discuss, and it forms the basis of setting up an auto-notification on your MLS software.

    Listen carefully, give feedback, and make suggestions to expand or refine their search criteria. It’s your job as a professional to provide guidance. 

    I could easily write an entire RAM on this topic alone, but suffice to say, the worst thing you can do is set up an auto-notification for your clients and then fail to communicate with them regularly. 

    I’ll write more about this topic sometime soon. Probably maybe.

    #2 Align Your Motivation Levels

    Just say something like this, “If you’re a ONE, I’m a ONE too, and you won’t be hearing much from me. But If you’re a TEN, I’m going to drop everything right now, and let’s go find you a house!”

    This will relieve pressure and make them feel more in control of the process. If they truly are a ONE, the last thing they want is you chasing after them daily. On the other hand, you’re clearly communicating that you’re ready, willing, and able to respond quickly to their needs, whenever they are ready. 

    By the way, if your client says they’re a ONE, this does not mean you should ignore them. They can go from a ONE to a TEN in a hot second. You need a system to communicate effectively without being annoying (another topic!). 

    #3 Getting Pre-Approved

    It’s obvious (to you) why getting pre-approved is so important, but you need to explain it from their perspective.

    Being truly pre-approved is quite different from a verbal, “yeah you should be good.” Explain why it is so important to follow through and submit all the necessary paperwork to their mortgage professional ahead of time. It can take the bank several days to process an application, so the more work they do up-front the less chance there will be of a delay and possibly missing out on the perfect property in a competitive market situation. Paint a picture! Speak from experience! Convey the urgency!

    Also, if interest rates are rising, explain to them why it’s essential to have a rate hold in place, and to be aware of when that rate hold expires. They need to maintain ongoing communication with their bank or broker.

    I’m not the REALTOR® who refuses to work with anyone who isn’t truly pre-approved. Sometimes I make a judgement call. But I do make absolutely sure that my buyers understand the importance of it, and I follow up with them regularly to ensure they’re getting it done.

    #4 Review All Required Paperwork

    The Buyer Meeting is the ideal time to discuss Agency, the Buyer’s Brokerage Agreement, and the Purchase Contract.

    Everyone has a different opinion about the Buyer’s Brokerage Agreement. Mine is, it’s incredibly confusing and stupid, and I wish it didn’t exist. 

    It’s the part about ‘forced agency’ that I disagree with, by the way. If I have a buyer client, and I’m doing a lousy job, that client should not be forced to continue the relationship. That said, there are other legitimate reasons to have this form signed, including transparency about how I get paid, etc. I just wish they took out the ‘forced agency’ part.

    Since I don’t make the rules, I always give my clients a copy and ask them to review it and sign it whenever they feel confident to do so. Yes, I tell them I think it’s stupid (I’m always dead honest), and I explain why. 

    In my jurisdiction (Alberta), we have the Consumer Relationship Guide, which explains the agency relationship. I do review this form and ask my buyer clients to sign it at the initial meeting. After all, it’s not a binding contract in any way. It’s just a simple acknowledgment of my role, but the act of them signing does have a psychological effect, I think, that further cements our relationship.

    In addition to the above, I think it’s wise to review the appropriate Purchase Contract ahead of time and all other paperwork required in your jurisdiction.

    #5 Preplan Negotiations

    Reviewing the purchase contract is a great way to initiate a discussion about potential scenarios when writing an offer. For example, what is a reasonable deposit amount? What conditions will they include? What are all the various factors which may affect the price? Etc.

    I guess that’s another topic! Hey, I know I’m not going into much detail here. If you’re reading this and you want to have a chat, feel free to call me any old time 403-973-9730. Yes I answer my own phone, unless I’m in an appointment.

    There are numerous other topics to discuss during the Buyer Meeting, including FSBOs and New Construction (make sure your buyers always contact you first), what to do about potential hidden cameras and microphones, how to keep a tally of the best listings (and forget about the rest), how you will help them work through conditions, and much more.

    Come to think of it; I could write an entire RAM on each of these topics. Of course, I do go into much more detail within the ‘Working with Buyers’ module in the Agent Skills Master’s Program. But the main point of this short post is, one way or another, to make sure you thoroughly discuss all these topics as soon as possible and preferably before you even get started looking at properties.

    This will not only alleviate future mishaps, but perhaps even more importantly, it helps to establish your role as a trusted advisor, and further cements your relationship.

  • Real Agent vs. Fake Agent

    Real Agent vs. Fake Agent

    I call this the ‘Real’ Agent Memo because it’s for ‘real’ agents, as opposed to ‘fake’ agents.

    A real agent/person is GENUINE. They are firmly grounded and quietly confident in themselves. They tend to be good listeners because they’re present in the moment. They’re not trying to figure out someone else’s agenda or worrying about their own.

    Genuine people are self-aware of both their strengths and weaknesses. Therefore, rather than blaming others for their mistakes, they seek ways to improve themselves. 

    Side note: I could have called this the ‘Genuine Agent Memo,’ but I thought GAM sounded stupid.

    A fake person is INAUTHENTIC. This stems from a sense of insecurity and a feeling of pressure to be something they’re not. They unconsciously hope their fake persona will help them to be more successful.

    But inauthentic people are toxic to both themselves and those around them. Here are three more traits of inauthentic (FAKE) agents/people:

    1. They don’t learn from their mistakes. Instead, they make excuses or blame others. Therefore, they never truly grasp the critical lessons that mistakes can teach us, holding them back from the success they want so badly.

    2. They have high opinions of themselves and want to ensure everyone around them knows how great they are. They use this façade to cover up their inadequacies, not daring to look too deeply within for fear of what they might find. 

    3. They lack consistency and the ability to stay on track. Rather than giving all they can to a project, they tend to bounce from one thing to the next, unsuccessfully trying to do everything and be everywhere. This is because they lack core values and don’t actually know what they stand for.

    I use the term, ‘Salesy Slickster’ to sum up inauthentic agents; slimeballs who will say or do anything to “get the deal” (collect a commission).

    The opposite of the Salesy Slickster is the Real Agent who always has the clients’ best interests at heart and works hard to better themself for their client’s sake.

    Unfortunately, as you know there are a lot of Salesy Slicksters who get a lot of business!

    Nothing irks me more than a loud-mouthed know-it-all agent who struts around like a peacock, reeking of unwarranted confidence and spewing garbage that they’ve convinced themselves is true. I call it “authoritative spewing!”

    I sometimes often ask myself, “Who in their right mind would hire this idiot/slimeball?”

    But what can you do about it?

    Stick to your core values. Listen to your client’s needs even more closely. Continue to tell the truth selflessly. Try to be a little bit better every day.

    And what if you recognize in yourself some of the inauthentic traits I listed above?

    Don’t worry! The fact that you felt a twinge of guilt means that you’re far more on the ‘real’ side of the spectrum than the ‘fake’ side. Truly inauthentic people would never admit or recognize that they’ve got a problem.

    However, if you want to explore this subject further, try reading this article from Psychology Today, Develop Authenticity: 20 Ways to Be a More Authentic Person.

    In the meantime, watch out for the next ‘Real Agent’ Memo in two weeks. And now you know the story behind the name!

  • How to Become the True Area Expert and Have Fun Doing It

    How to Become the True Area Expert and Have Fun Doing It

    This RAM is intended mainly for newer agents or any REALTOR® with the right mindset, including myself. Sometimes, writing this article every two weeks reminds me of what is important, so I’ve already implemented steps to follow my own advice!

    Have you ever had a buyer client tell you, “We didn’t want to bother you or waste your time looking at that property?”

    When this happens to me, I have to remind my clients that there’s nothing I’d rather do than go out to look at properties! It’s the funnest part of the job for me! I hope it is for you too.

    I also tell my clients to think about looking at properties as ‘homework.’ The more they see, the more they will learn.

    From your perspective, you should think about every viewing as an opportunity to add a little more cement to your relationship and to learn something yourself, whether they buy the property or not.

    Always try to maintain a Beginner’s Mindset.

    Even without your clients, you can learn a lot by previewing properties, especially in your Geo Farm area if you have one, or even if you don’t.

    Simply set yourself up to be notified every time there’s a new listing within the area or specialty you are interested in; then set up a preview as soon as possible after it’s listed.

    When I refer to a ‘specialty,’ it doesn’t need to be a Geo Farm necessarily. Maybe you want to become the known expert at a particular property type within a specific price range. Whatever your interest, set up a search for yourself. 

    To be clear, there’s nothing wrong with previewing listings if you’re up-front about it. Do not pretend that you’re showing the property to clients. Just tell the listing agent it’s a preview, and if the time requested isn’t convenient for the seller, work our a different time. 

    The listing agent will respect your honesty, and almost always, they’ll try to accommodate your request. But if the seller doesn’t want any previews, don’t worry about it. Just skip that one; no big deal.

    If you’re going to be serious about this, I strongly recommend building and maintaining a simple spreadsheet with columns for the MLS number, address, date of preview, price, pros, cons, results, etc. This may seem unnecessary at first, but it will become invaluable later. 

    Also, set up another search in your system for each property you’ve viewed, so you’ll be notified when there is a change in status. Then you can update the ‘results’ column on your spreadsheet. Just set up a search for the specific MLS numbers you’ve viewed. 

    To take it to another level, try predicting what will happen. For example, will it sell close to asking? In what time frame?

    The insight gained from viewing properties in person, thinking about each one, and then tracking the results, can make a massive difference to your knowledge and skills. 

    Simply reading the listing agent’s description is okay, but it will never give you the whole story. They never tell us the bad stuff, right? 

    But it’s the unspoken negatives that fill in the picture, allowing you to speak knowledgeably and gain a greater understanding of what factors truly affect pricing. 

    This in-depth knowledge will become gold for you later when you’re at an Open House or doing a CMA. After all, it’s one thing to look at the limited information available on listings (the same data available to every one of your competitors). But it’s quite another thing to be the ONLY agent who has previewed every active and recently sold property in the neighbourhood. 

    This gives you a decisive advantage over all your competitors, including those who tout themselves as the “Area Expert,’ but who don’t have anywhere close to the same level of knowledge you’ve accumulated. 

    You might be surprised to find out that the True Area Expert is you!

    When you run into someone who wants to know the ‘scoop’ on what’s happening in the neighbourhood, you’ll be able to paint a detailed picture based on your in-depth first-hand knowledge. The first time this happens, you will understand the power and confidence of being the True Area Expert. 

    And you’ll be surprised at how this simple process will help develop your overall skills as a professional real estate agent. For example, you’ll start to develop a sixth sense about pricing. Based on your first-hand knowledge of a concentrated group of listings, you’ll begin to understand what is important and what isn’t. 

    This knowledge tends to permeate the subconscious and becomes a valuable skill you’ll be able to draw upon, no matter which geographical area you happen to be working in.

    It’s not easy to become a true expert in real estate, but once achieved, this can have a profound positive effect on your confidence, and it’s free! All you need is the right attitude, which includes the willingness to stick to it and establish a system, including keeping impeccable notes.

    You have to stick to it because you won’t notice much difference after viewing 5-10 listings. After 50-100? You will have achieved the status of True Expert. Now, you need to keep it up.

    The next step is to learn how to demonstrate your expertise to as many people as possible. That’s a story for another day. Or perhaps several stories. 

    I’m glad I wrote this because it’s inspired me to get back to doing it myself. I just booked two previews for this afternoon. This is gonna be fun!