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  • NOT Being a Salesperson

    NOT Being a Salesperson

    The public thinks REALTORS® sell houses and condos. They’re wrong.

    A New Home Salesperson sells houses and condos. But that’s completely different because the new-home salesperson’s wants and needs are in direct conflict with the buyer’s.

    As an AGENT, your wants and needs are perfectly aligned with your buyer, as we discussed last week in Ten Tips for Working with Builders.

    In every case, whether you are working with a buyer or seller, new or used, your role is to provide expert advice and facilitate a transaction that best suits your client’s wants and needs, without regard to your own.

    At least that’s what you’re supposed to do.

    And it’s what’s in your own best interests as well, if you intend to make a long-term career out of Real Estate.

    The most successful agents are quietly completing 50-100 deals every year, without needing to spend a ton on advertising. They don’t need a huge advertising budget because they have a steady stream of incoming referrals, provided by their happy past clients.

    Why? Because they’re constantly investing their TIME in improving their knowledge and skills, and building trusting relationships.

    Others invest their MONEY in advertising. But ask yourself, “WHY do they have to spend so much on advertising?”

    It’s because of their mindset. They think that Real Estate is a single-transaction business. Once the transaction is completed, it’s over. Now their focus is on finding the next “lead.”

    But truly successful agents don’t think that way. They know that Real Estate is a relationship-based business.

    —————————————

    You think the “celebrity” agent you see all over town is successful? 

    Maybe. It depends on your definition of success.

    But I think you’d be surprised to know how many of those agents are in a vicious money-spending loop. 

    They’re paying thousands every month on advertising, in order to get new clients, in order to pay for their advertising…

    —————————————

    If you’d rather avoid the money-spending loop, you need to shift your focus from constantly searching for the next “lead” and instead focus on, “How can I do an even better job for my existing clients?”

    This requires knowledge and skills and absolute truthfulness.

    Sometimes, truthfulness means talking yourself out of a commission check. But protecting your reputation as a knowledgeable and truthful provider of expert advice is priceless.

    —————————————

    “To be persuasive, we must be believable; to be believable, we must be credible; to be credible, we must be truthful.” — Edward R. Murrow.

  • Ten Tips for Working with Builders

    Ten Tips for Working with Builders

    You’ve been working with ‘Bob the Buyer’ for a while now, but you’re not having any luck finding the right property. Then he pops the question:

    “What about building?”

    This article will explain how you can become an essential advocate for your buyer client should he decide to pursue this option.

    _____________________

    First of all, let’s all agree that we REALTORS® like New Home Salespeople, about as much as we enjoy a swarm of giant murder hornets at a BBQ.

    This adversarial relationship is understandable. After all, you want what’s best for your client, while the New Home Salesperson wants what is best for the builder, and themselves.

    In many cases, the New Home Salesperson makes less money when a REALTOR® is involved. It’s also easier for them to control the sales process without a knowledgeable agent asking difficult questions and bringing up the pesky truth about things.

    Be aware that REALTOR® commissions can vary wildly, from generous to insulting. And, there may be arcane ‘Builder Rules’ designed to push you out of the picture, such as requiring that you pre-register your client before they ever enter a showhome.

    “Oh, you didn’t pre-register your clients? No commission for you!”

    Heed my advice:

    Learn the ‘Builder Rules’ in your market area, and discuss them with your clients early on, just in case they decide to explore some showhomes. Be certain they understand the importance of having their own independent expert representation, rather than dealing directly with a sales shark.

    Here are ten examples of expert advice you can provide before Bob signs a contract with a builder.

    _____________________

    1. Ensure he understands the potential negatives, such as living in a noisy and dusty construction zone for the next X years. 

    2. Ensure he understands the extra costs that the builder may not cover, such as fencing, landscaping, window coverings, etc. You’ll need to confirm these things with each builder, independently. Don’t make any assumptions.

    3. Read the spec sheet and figure out what is included and what is not included.  Builders often advertise the “base” price, but that’s for the cheapest (worst) lot and basic (cheap) finishings. It’s not unusual for an upgraded home to cost 10%-20% more.

    4. Help Bob choose the best lot, taking into account grading issues (both front to back and side to side), as well as street “furniture” (utility/transformer boxes, streetlights, etc). Builders often “forget” to mention these details that the average buyer doesn’t think about. After all, their job is to sell ALL the lots, not just the good ones.

    5. Advise on what improvements to include, and which items may be smarter to add afterward. For example, it’s probably cheaper to include an A/C rough-in, but the A/C unit itself is likely less costly to add later. 

    6. Think about what features could be important for future resale value. For example, in my market – even on a basic starter home – I would recommend a master ensuite, quartz counters in the kitchen, and 9-ft ceilings on both the main floor and basement. These are features that future entry-level buyers will want and expect, even if your buyer doesn’t care about them now,

    7. Spending a bit more on appliances can make a big difference.  For example, you can go from a loud dishwasher to a quiet one for a couple of hundred dollars.

    8. Consider enlarging or adding more windows to the basement. This is a surprisingly inexpensive improvement, with a big pay-off.

    9. Ensure you get a say in where the utilities and bathroom rough-in are located in the basement. I’ve seen builders locate the furnace in the basement’s dead-center, just because it was easier for the installer, and nobody told him otherwise.

    10. Make sure Bob knows that builders are notoriously overly-optimistic when it comes to estimating construction times. Add an extra 2-3 months to be safe.

    These are just a few examples of how you can add value as an expert advocate for your buyer.

    _____________________

    One last thing: We complain about builders and their arcane rules. But many times, they’ve got a legitimate beef with us, too. Like when the agent contributes ZERO to the process, and the only thing they care about is collecting a commission check.

    If you want to be a knowledgeable advocate for future buyers, go and meet the builder representatives in their show homes and learn about their product. Ask for their input on what they consider to be smart upgrades, and which are the best lots. Invest some time in learning, even if you don’t have any new home buyers currently.

    You’ll increase your knowledge, and you’ll lay the groundwork for a future mutually respectful business relationship.

    Honey bees are so much nicer than giant murder hornets.

    ____________________

    For more information on working with buyers, check out The Motivation Alignment Principle (MAP).

  • The Follow-Up Conundrum

    The Follow-Up Conundrum

    Can you spare 14 minutes and 24 seconds?

    That’s 1% of the 1,440 minutes you get every day, so don’t say “no.” There is literally NO-ONE who can’t find an extra 14:24 in their day. 

    Most people toss more time into the garbage ️ before breakfast.

    If you’re willing to dedicate 14:24 every day to a specific task, it can change your life. But you’ll need to read this entire article to fully understand why.

    That’ll take 2-3 minutes.

    ——————–

    Most Real Estate agents have the ‘Salesperson’ mindset. They’re better at reacting than they are at planning.

    Why yes! I AM speaking directly to you!

    Don’t feel bad!  Like a bloodhound, you’ve got the instincts to sniff out a deal and pursue it. Your instincts and quick reaction time are good things!

    But, if you depend solely on your instincts, you could spend way too much time chasing your tail.

    Yes, you need to rely on your instincts, AND you need to purposely schedule time to Follow-Up.

    I call these scheduled times “Appointments with Yourself.”

    ——————–

    For example, you’ve got several good prospects in your pipeline. You’ve worked hard to get them, but you often forget to Follow-Up when you know you should.

    So, here’s a strategy to ensure you never neglect The Follow-Up:

    Schedule 1% of your daily time (let’s round it up to 15 minutes) for an Appointment with Yourself to Follow-Up with your prospects and clients, every morning, Monday to Friday.

    ——————–

    Here are the two crucial steps you must incorporate to ensure success:

    1. Commit to honoring every appointment 100% of the time. That means you show up on time every day,  just as you would if you had a daily 15-minute appointment with your #1 Referral Source.

    If you can honor an Appointment with Your #1 Referral Source, you can honor an Appointment with Yourself. Right?

    But Ted! How am I going to follow-up with ALL my prospects in 15 minutes?

    You’re not. But when you do this every day, and you’ve got a good system (keep reading), you’re going to develop a habit of using your limited time wisely. For most agents, 15 minutes every day is enough.

    “Here’s my list. Who needs a follow-up TODAY, and who can wait until another day?”

    Consistency is the key to keeping your prospects and clients top-of-mind, which is the real purpose of this system. 

    ——————–

    2. Book a “buffer time” of 15 minutes before and 15 minutes after every Appointment with Yourself, and for every Appointment with Someone Else for that matter.

    This ensures that you will show up and begin your appointment on time, even if stuff happens, as it always does. 

    If you’re running a bit late on a previous appointment, you can simply use up your “before” buffer to complete that task and still begin your Follow-Up appointment on time.

    Conversely, if your Follow-Up appointment takes a bit longer than 15 minutes, it’s no big deal. Just use up your “after” buffer time.

    But, Ted! Now you’re saying this is a 45-minute appointment?

    No. Your buffer time is neither an extension of your appointment nor is it “sit around and do nothing” time.

    Before and after your appointments, your scheduled buffer time is when you do regular stuff like checking and responding to messages.

    It’s important to honor your appointment start and end time as much as possible to develop a habit. Building in a buffer just makes this easier.

    ——————–

    You still think 15 minutes isn’t enough time?

    If you go for several days in a row without doing any follow-up, you’re right.

    Consistency is the key. Commit to 15 minutes every day, Monday to Friday, and you’ll be amazed at how quickly you become a master at short, concentrated, scheduled Appointments with Yourself.

    Of course, you also need a good system to keep you organized, so check out the Ridiculously Uncomplicated Follow-Up System (RUFUS) to avoid chasing your tail.

    ——————–

    At the beginning of this article, I said that your willingness to dedicate 14:24 of time every day could be life-changing.

    Perhaps you’re rolling your eyes and thinking:

    That’s a massive overstatement, Ted!

    Wrong! 

    When you see for yourself the huge positive difference this simple system has on The Follow-Up, I guarantee you will start incorporating Appointments with Yourself into other areas of neglect in both your business and personal life. 

    You are developing a critically important life skill and HABIT that every business person who wants to be successful needs.

    ——————–

    Take it one step at a time. Making important changes is a process. For now, just commit to 14:24 every day. Use it for The Follow-Up or for a different task that you know you’ve been neglecting.

    Start tomorrow morning. Write an Appointment with Yourself into your schedule and be sure to honor it. Remember: Every journey begins with a single step.

    _____________________

    This article was inspired by Module #4 – The Follow-Up – part of the Agent Skills Master’s Program. If you like these short articles, imagine what you’ll get out of the entire course!

  • The ONE Time You Should Door-Knock

    The ONE Time You Should Door-Knock

    Door-knocking?

    I’d rather walk into Room 237 (The Shining).

    I remember reading the book as a kid and being so terrified; there was no possible way I was going to the movie when it came out. It wasn’t until years later that I saw it!

    Aside from the obvious horror aspect of door-knocking, it’s not 1977, and we’re not selling encyclopedias. Right?

    Door knocking just seems way too old-school-cheesy.

    That’s how I felt for my entire Real Estate career, before I spent a full year studying and developing the Agent Skills Master’s Program, and came to the revelation below:

    ——————————

    Disclaimer: Even if you’re ten times as brave as me, I still don’t believe you should door-knock without a compelling reason.

    That said, I do believe in these three fundamental principles:

    1. A face-to-face interaction is 100X more powerful than any phone call, email, text message, or any written form of advertising, like a flyer.

    2. You should never contact a client or a prospect unless you’re providing something of value.

    3. Open Houses—skillfully executed—are BY FAR the best way to cultivate new clients. 

    Taking that into account, here is the ONE time when knocking on doors meets all three of the above criteria:

    You’ve got a new listing, and you’re inviting the neighbors to your Open House.

    Think about it this way:

    You’re meeting future clients face-to-face, giving them something of value (see below), and providing some very interesting information.

    After all, what neighbor isn’t at least a little curious about the new listing down the street?

    ——————————

    Here’s the game plan when they open the door:

    1. Introduce yourself, and hand over a brochure for the new listing. (Your professional, impressive brochure is an essential component in how you market yourself.)

    2. Tell them some basic information, including the price, and invite them to your Open House. (Who doesn’t like to get invited to an event?)

    3. Depending on their reaction, either continue the conversation, or move on to the next door.

    ——————————

    You know how people talk about the “nosy” neighbors coming to the Open House? 

    We should quit talking about them that way. They’re just naturally curious, and they’re certainly as good of a prospect as anyone else.

    But the truth is that most of the neighbors do not go to the Open House. Why? Because they don’t feel right about imposing on your time (being “nosy”) when they’re obviously not going to buy the house.

    That’s why extending a personal invitation will make them feel more welcome to come.

    You’ll get to meet them a second time, and that tiny bit of familiarity will significantly improve your chances of continuing a productive conversation.

    But Ted! If they’re not in the market, this is a big waste of time!

    Nonsense. They’ll be in the market next year. Or the year after that. 

    STOP thinking that every interaction has to result in an immediate sale! Leave that thinking to the poor struggling agents. Besides…

    You’ll be surprised how many people who claim to NOT be in the market are suddenly IN the market AFTER you’ve made a positive impression. 

    And, I can’t tell you how many times I made a personal connection to someone at an Open House, and it paid off for me years later.

    One easy way to maintain contact with a future client is to add them to your monthly newsletter. If you’ve got the right systems and procedures and interpersonal SKILLS, it’s easy to sign them up.

    ——————————

    Back to the front door! One of these four things will happen.

    1. Some people will politely take the brochure, and you’ll never hear from them again. Big deal. You sacrificed one brochure. They still appreciate the information, if nothing else.

    2. A few will take your brochure, stash it away in a drawer and pull it out three years later when they’re thinking of selling. Why? Because it’s a memorable event when a hard-working agent comes to the door and personally invites them to an event! It’s not something that happens every day.

    3. Many will be super interested, want to strike up a conversation, and you’ll have a great chance to establish rapport and maybe add them to your newsletter list, or follow up with some other information.

    4. Occasionally, you’ll run into a grumpy jerk. Big deal!

    If you never meet a grumpy jerk, you won’t meet any friendly, awesome people, either.

    Think about it like this: One grumpy jerk, five friendly prospects. Not bad!

    If you learn some SKILLS and practice enough, the ‘friendly/jerk’ ratio can become 10:1 or even 20:1.

    When you’re meeting enough friendly prospects, you’ll quickly learn to shake off the one grumpy jerk with a laugh! Who cares? You didn’t want to work with them anyway.

    Stop allowing the ridiculous success-preventing part of your brain to sabotage you. You’re NOT walking into Room 237.

    Stop being the Secret Invisible Agent.

    Secret Invisible Agents get invisible commission checks, which are hard to cash.

    For more information on conducting an Expert Open House, check out this previous article Becoming a Trusted Advisor.

    ——————————

    This article was inspired by module #3 -The Open House Expert – part of the Agent Skills Master’s Program.

  • How To Be The Boss Of Yourself

    How To Be The Boss Of Yourself

    Part of the reason you became a REALTOR® was to “be your own boss,” right?

    But then, “being your own boss” turned into “not having a boss,” which is like when you’re a teenager, and your parents go on vacation and leave you at home for the first time.

    It’s fun at first , but then the house gets frighteningly messy.

    Now you’ve got one day to clean up this pigsty and bring it back to “normal” before your parents get home.

    But being your own boss isn’t merely about keeping things “normal.” Unless, of course, you’re entirely satisfied with the state of your business as it is. 

    But then, you wouldn’t be reading this, would you? 

    It turns out that everyone needs a boss, but being a good ‘boss of yourself’ is something you can learn, just like any other skill.

    Let’s explore a few different ways to improve your ‘boss’ skills.

    ______________________

    For starters, it’s important to know the value of your time. 

    For example, a typical busy REALTOR® probably works close to 2,500 hours per year (50 weeks x 50 hours/week).

    If you made $250,000 last year, divide that by 2,500 hours to calculate your hourly rate ($100/hr). 

    That’s not bad, but once you deduct all your expenses and taxes, let’s face it: You’re not getting rich. 

    If your goal is to make $500,000, and you’re willing to work 2,500 hours to get it, here’s the most critical mindset shift you need to make:

    Start behaving like your time is worth $200/hr. 

    It’s as simple as that, and as difficult as that.

    It’s simple because there’s no reason you can’t make $500,000 or more if you’ve got the right knowledge and skills, and you learn to use your time wisely.

    It’s difficult because it requires personal discipline to be a good boss of yourself.

    Ask yourself: Do you spend most of your time doing highly-productive income-generating ($200/hr) activities?

    Or do you spend half your time doing $20/hr work that you could easily delegate to someone else?

    If you spend your time doing $20/hr work, that’s precisely what you are worth.

    ______________________

    If you had a personal productivity manager who looked over your shoulder every minute of your working day, would they be impressed by how you spend your time? Or would they be appalled at how much time you waste doing completely useless, unproductive activities?

    If you want to make $500,000, wasting two hours every day is like tossing four $100 bills out your car window—every single day. Visualize that.

    That’s $2,000 per week (M-F). 

    You could hire a full-time, experienced assistant for half that, and stop doing $20/hr activities, forever.

    Don’t get me wrong. If you are earning $500,000 and you make a conscious choice to spend $400 of your time doing something unproductive, go for it!

    I’m not suggesting that you should work continuously and never have any downtime to recharge. That leads to burnout.

    However, you do need to stop running your life haphazardly (like an unparented teenager).

    Start being conscious of what you are doing and what you are not doing during your regular work hours. 

    For one single day, be your own productivity manager. Write down how you spend every minute of your day. How many hours did you waste?

    Two? Three? Six?

    If you’re afraid to do this, you already know you have a problem, and you know you need to shift your mindset.

    Perhaps you’re feeling overwhelmed, like your house is a pigsty right now, and your parents are coming home tomorrow.

    Here’s the good news:

    If you think that shifting your mindset means you have to start doing things that you hate, and that you’ll never have any fun ever again , that is the ridiculous success-preventing part of your brain trying to sabotage you.

    The opposite is true: Positively shifting your mindset is exhilarating, confidence-boosting, and freeing, not to mention the massive improvement to your bank account.

    Only one person is stopping you from achieving your goals. It’s you.

    It’s time to start adulting.

    If you’d like to further explore this topic, check out this previous post: Five Simple Steps to Getting Stuff Done.

    ______________________

    This article was inspired by module #2 – Getting Stuff Done – part of the Agent Skills Master’s Program.

  • The Bus Bench Conundrum

    The Bus Bench Conundrum

    “To bus bench, or not to bus bench? That is the question.”  – Ted Greenhough

    OK. It’s not quite as profound as Hamlet’s soliloquy.

    But massively more important from a REALTOR® perspective!

    In my market, a single one-year bus bench contract costs more than the entire Agent Skills Master’s Program!

    (Sorry, I couldn’t resist.)

    But seriously, are bus benches worth the expense, or NOT?

    It depends. Let’s look at two extreme scenarios.

    Scenario 1 – You plunk down a single bus bench in a part of town where nobody has ever heard of you, and you don’t do ANY other marketing in the area.

    In this case, you’re better to gather up your money and burn it. At least then, you won’t have the painful experience of paying for that bench ad every single month and getting ZERO return on your investment.

    Not like the massive return you’ll get on the Agent Skills Master’s Program.

    Oops! Sorry again! OK, I’ll stop now.

    Scenario 2 – You place 3-4 benches in high-traffic locations within your Geo Farm area. People recognize you from your Open House signs, For Sale signs, and other marketing you do in the neighborhood.

    In this case, your bus bench ads serve as a constant reminder of your status as the Area Expert. It’s just one component of your overall marketing plan, but it’s a critical piece.

    Here’s how it works in practice:

    Sammy drives by your bus bench every day, but he never pays it any attention. Why?

    Because he’s not in the market!

    Until he is. Now, Sammy can’t help but notice your bus bench ad, every day.

    This is the way our brains work. We see things that our brains are attuned to seeing.

    (That’s why you notice everyone else’s bus bench ad.)

    So, Sammy starts noticing your bench. Then he realizes he’s seen your name all over the neighborhood on your For Sale signs, Open House signs, and aren’t you the agent who sends that flyer every month?

    Sammy calls you, you list and sell the house, help him buy another home, and get three referrals.

    Cha-ching!

    That’s how it’s supposed to work. And it does IF it’s part of your overall marketing strategy.

    ————————————-

    Remember that bus bench ads must be clearly legible and easy to read all the information in two seconds. That’s all the time you get as someone is driving by.

    Here’s everything you should have on your ad:

    1. Your smiling face – Never forget that Real Estate is a relationship-based business. People don’t develop relationships with words.

    2. Your name, obviously. But again, make sure it is a large, easy-to-read font. Do NOT use any weird or fine fonts that are hard to read.

    3. Your regulatory body probably requires your brokerage (in ALL your advertising), but nobody cares (sorry brokers), so make your brokerage name as small as is allowable, without being ridiculous. 

    4. Your cell number (NOT your office number!)

    5. Your website 

    6. A SHORT tagline. “Your Pleasantville Area Expert”  is excellent! Short, sweet, and it means something.

    “Call ________ for honest, professional advice and amazeballs customer service!” – Better to burn your money.  

    The worst mistake you can make on a bus bench ad is to clutter it up with useless banter that means nothing.

    If you’re curious to learn more about Geo Farming, please check out this previous article, The Accidental Geo Farmer.

  • Making a Positive Change

    Making a Positive Change

    And now for something a little bit different:

    Every week, The Real Agent Memo serves up a tiny appetizer from one of the 14 modules in the Agent Skills Master’s Program.

    Do I have an ulterior motive for writing this blog every week? Yes!

    I’m hoping you’ll be inspired to buy my course. After all, if I’m giving this stuff away for FREE, can you imagine how great the paid content is?

    By the way, do you know why I call my blog the ‘Real’ Agent Memo?

    It’s because I believe it’s essential to be a ‘Real’ (honest and straightforward) agent, in order to build a personally rewarding and lucrative Real Estate career.

    After my first year in business, I earned between $590,000-$865,000 every year for 12 consecutive years, all as an individual agent, without ever once making a cold call, reciting a canned script, or doing any other ‘salesy’ stuff.

    I developed the Agent Skills Master’s Program to teach you – step-by-step – exactly how I did it, and how to avoid all the mistakes I made. 

    Yes, I made a TON of costly mistakes, learning by trial and error.

    You don’t have to make the mistakes I did!

    So, what’s different about this particular Real Agent Memo?

    After serving up a tiny appetizer from each module for the past 14 weeks, I’ve decided that every 15th Real Agent Memo will be a direct pitch about exactly why YOU should fork over U.S.$997 and buy my course.

    But, as usual, I’ll just talk about one tiny bite to whet your appetite. After all, you can read all about my on-line course any time you want right here.

    The appetizer this week: Ted’s Ironclad Guarantee. Or, more specifically:

    WHY I guarantee you’ll make at least 50X the cost of the course within six months of completing it, even if you don’t do the homework.

    Yup. That’s right. 

    The way I figure it, it’s up to ME to INSPIRE you to do the homework, and if I fail to do that, it’s MY fault.

    Why am I so confident?

    1. Because inspiration is built-in to the fabric of the course. You’re going to be EAGER to do the homework because it’s obvious how it’s going to help you be a better agent.

    2. Even if you don’t do the homework, I know that merely watching the modules will change your mindset, enough to make at least an extra $50,000, anyway. If you do the homework, you’ll make WAY more.

    You know what else?

    “Homework” is not the right word. It conjures up “drudgery” and “a useless waste of time.”

    I wanted to call it, “Inspiring Activities that you can Easily and Quickly Implement into Your Existing Business and Start Seeing the Results Immediately,” but Ashton said it was too long. 

    She’s always telling me my titles are too long.

    While we’re talking about titles, here’s an interesting side note: 

    Sometimes when you’re writing, you start on a particular subject, and you end you up with something completely different. Then you go back and change the title to something more appropriate.

    When I started writing this article, it was about being in a rut, and how to get out of it, by Making a Positive Change. Then it mutated into this.

    But hey! The title still fits, so there’s no need to change it!

    Plus, by sheer coincidence, this happens to be the very first Real Agent Memo under our new brand name, Agent Skills (formerly Knowledge First).

    This is a very positive and exciting change for us, for many reasons.

    What about you? Is it time for you to make a positive change?

    If you feel like you need a kick-start to get back to the enthusiasm and excitement that you once had in your Real Estate career, check out the Agent Skills Master’s Program.

    It’s inspiring, and it’s guaranteed.

    And, here’s a cool stat that we’re proud of:

    Number of refunds issued so far because my clients didn’t make at least 50X the cost of the course: ZERO.

    For the next 14 weeks, I’ll go back to writing a tiny helpful bite from each of the 14 modules, one per week.

    A bite is nice. However, if you want the appetizer, the gourmet meal with wine, and chocolate cake and ice-cream for dessert, you know what to do.

    However, if you find yourself reading #15 again, on Thursday, December 3, know this:

    You could have completed the entire course by that date. 

    You could have been primed, ready, and INSPIRED to make 2021 your greatest year ever. 

    Make a Positive Change.

  • YOU vs. the Big-Box Team

    YOU vs. the Big-Box Team

    There are pros and cons to every different business model in Real Estate.

    I was an individual agent (with a full-time assistant) for my entire career. But a partnership or small, client-centered team can work wonderfully for both you and your clients, as well, so long as you have dependable systems and procedures.

    The only Real Estate business model I really dislike is ‘The Big-Box Team,’ mainly due to their commonly-used, deceptive marketing tactics.

    What they tell you: “Your home Sold GUARANTEED, or we’ll buy it!”

    The truth: The “guarantee” is just a ploy to get their foot in the door, and then explain that either, a) your property doesn’t “qualify” for their program, or b) the “guaranteed” price is so low (after all the deductions) that nobody in their right mind would ever agree to it. 

    But hey! No worries! We’ll get ‘er sold, anyway! Sign here, please. ️

    What they tell you: “You’ll have a whole team of agents all working together to get your home sold!”

    The truth: It’s highly unlikely that any other team member will ever even SEE the listing, let alone pay it any attention. They’re focused on other things (chasing down leads).

    What they tell you: “We’re working with bazillions of buyers right now, and at least a few of them are going to want to see your home!”

    The truth: IF by some fluke, one of the Buyer’s Agents does have a buyer; there is ZERO advantage to the seller because that buyer would want to see the listing ANYWAY, no matter which agent they were working with. 

    What they tell you: “We spend bazillions every month on marketing!”

    The truth: Yes, but all that money has ZERO to do with getting your home sold, and EVERYTHING to do with promoting The Team to generate leads.

    Not that there’s anything wrong with marketing to generate leads! Let’s just be honest about it.  

    I could continue, but you already know all this stuff.

    The question is, how do YOU, as an individual agent (or a small team), compete against these Big Box Team?

    That’s easy!

    Tell. The. Truth. 

    Simply explain what you already know about all of the above, candidly, and without malice. That’s what I did. And you know what my clients would say?

    “I thought so.” 

    They already instinctively knew that something wasn’t right with the Big Box Teams. Why?

    Because smart people can smell deception a mile away.

    Obviously, I do not believe that the Big-Box Team is the best option for the public when buying or selling. Furthermore, I think our regulatory bodies could do much better at monitoring deceptive marketing practices.

    Luckily, I think the public is getting better informed, and more and more, they’re seeking out honest, skilled professionals who genuinely have their best interests at heart. 

    Let’s just continue telling the truth. It’s all we can do.

    ———–

    For newer agents considering joining a Big Team, or if you already have, and you’re now regretting it, here’s some further reading for you: The Team Option for New Agents.

  • Your Personal Brand Statement

    Your Personal Brand Statement

    Why do you “market” yourself?

    It’s to establish your BRAND.

    To be clear, your brand is not your logo, or your name, or your tagline. Those things represent your brand on the surface. But your brand is something much more profound. It’s the feeling that people have about you, what you represent, and why you are different.

    Your Personal Brand Statement should clearly articulate WHO you are, WHAT you stand for, and WHY you’re the reader’s best choice as a professional highly-skilled agent.

    For example:

    “Hi, I’m Ted. Over the past 14 years, I’ve completed over 1,000 successful Real Estate transactions, one at a time, with care and concern to create the best possible result for each individual client. That’s why I’m proud to say that almost all my business comes from repeats and referrals.”

    My personal brand statement is designed to appeal to every different communication style.

    Analyticals like the data about the number of transactions, and years of service. Drivers like that I’m direct and straight to the point. And, Expressives and Amiables both like how I talk about caring for my clients.

    (For more information on Communication Styles, here’s another recent blog article: Why Certain People Drive You Crazy.

    There’s also a subtle message behind mentioning that, “almost all my business comes from repeats and referrals.” It makes everyone think to themselves, “He must be great, or how could that be true?”

    That’s the subtle art of marketing – getting people to draw their own conclusion from a few simple words.

    My brand statement is only 50 words, but it’s a powerful 50 words.

    What about you? Are you able to clearly articulate why you’re the best choice as a professional Real Estate agent?

    This is not about inventing boring taglines that mean nothing, “Call me for honesty, integrity, and the best customer service!”

    If you’re building your brand around over-used clichés, your brand is weak. ☹️

    Sorry if that stung a bit!

    If you want a powerful brand, first learn how to actually BE a better agent, and then be able to articulate WHY.

  • The Staging Consultant

    The Staging Consultant

    I never understood why other agents wanted to have a massive “inventory.”

    They would beam with pride as they showed me their giant whiteboards full of listings, and I’d think to myself:

    “What a nightmare.”

    I’d have to resist blurting out, “Wow! That’s quite a list of failures!”

    Even when I was selling over a hundred properties a year (as an individual agent), I very rarely had more than 5-6 listings at a time. Here’s why:

    I did the work up-front to ensure every listing sold quickly, for the highest possible price, with the least amount of hassle. 

    Yes, I took advantage of the Flurry of Activity by pricing my listings correctly, as discussed last week in The Perception of Value.

    But that’s not the ONLY thing I did. Not by a long shot.

    The most important service I offered to every listing client was a complimentary home staging consultation with my Super-Star Staging Consultant – Angela.

    We’re NOT talking about complete home staging. That’s different. A staging consultation is about utilizing the clients’ existing furniture and artwork.

    But here’s the real “secret” of having a skilled home staging consultant on your team: About 5% of the work is rearranging furniture and artwork, and 95% is about cleaning, tidying, and decluttering.

    Angela was a star at tactfully getting sellers to view their home through the eyes of potential buyers.  She would typically spend about an hour with them, walking through the house, and giving them a list of tasks.

    The sellers would dutifully take notes , and then they’d do ALL the work after she left. Sometimes this would take several days, but by the time they were done, their homes were completely transformed!

    Perhaps you think that you can do this consultation work yourself to save a few bucks?

    Yeah, I could have done that, too. But I didn’t because I recognized two things:

    1. The added value of having specialist experts on my team, and;
    2. The value of MY time.

    If you always try to do everything yourself, you’ll never be as successful as you could be. You hire professionals for other tasks, right?

    Is it an added expense?

    No. I prefer the word “investment” to “expense.” I’d rather invest a tiny bit more and sell twice as much as the guy with the giant whiteboard.

    Your Consultant needs to be a talented staging professional, but more importantly, they need to be extremely tactful about how they instruct people to tidy and declutter. A true professional can do this without offending anyone, and quite honestly, it shouldn’t be you.

    I suggest you start the interview process as soon as possible.