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  • The Small-Box Real Estate Team

    The Small-Box Real Estate Team

    I was an individual agent throughout my real estate career, even when I was earning $800,000+ consistently, year after year. 

    I thought about starting a team multiple times, but I realized I was too much of a control freak. I’m not bragging about this. In fact, if I could do it all over again with the knowledge I have today, I might follow a completely different path.

    But I would never be the leader of a Big-Box Team.

    I call them Big-Box Teams because they remind me of Big-Box Stores, like Walmart. Can you buy patio furniture at Walmart? Yes. Will it be the highest quality? No.

    Let’s get something straight. Your team isn’t better than mine just because you have a hundred players, and I have five. You may score more goals overall but your players also trip over their skates and miss the net FAR more than my five highly skilled players. 

    I dislike the Big-Box team concept mainly because I know these teams do not serve the public’s best interest. I know it first-hand because almost every time I have a Big-Box team member on the opposite side of a transaction, I’m appalled by their lack of training and basic skills. Many can barely stand up on their skates, let alone stickhandle around a complex real estate problem. 

    When I talk about a lack of training, I’m referring to the important customer-centric stuff. You know, like how to do a superb job for your client. Isn’t that what we’re supposed to do?

    News flash: Becoming a great agent is not about learning canned scripts and chasing crappy leads. Robots can do that.

    Most of these rosy-faced Big-Box newbies start out with the best of intentions, but they get sucked in by the ultra-slick Big-Box recruiting pitch. Then they make the sad mistake of signing a contract with the team leader without reading all the fine print. 

    Eventually, most of them realize they’ve been bamboozled, but unfortunately, many leave the industry forever, utterly disillusioned about what it takes to make it in the real estate business. I feel heartfelt sorrow for them. Most are good people who have simply been led astray.

    So yes, I loathe the Big-Box Team concept for many reasons, as I’ve made clear in this space numerous times. But that certainly doesn’t mean I’m against all teams! 

    What is a team, after all? A team should be a close-knit group all working together towards the same common goal. Hopefully, in real estate, that goal is to consistently deliver exceptional results to every client.

    Over the years, I’ve encountered many outstanding Small-Box Teams with genuine client-focused values that are integral to the hiring process.

    That’s the critical difference between a good team and a bad team. As in any business, you can trace the group’s culture directly to the leader. What exactly are their core values?

    Is it all about “signing up” as many recruits as possible and then collecting a (significant) portion of their commissions? These are the Big-Box Team Leader Wannabes. They’re the worst.

    Or is it about seeking out the right people who already possess the burning desire to deliver an exceptional experience to each and every client? 

    And, after carefully choosing the right people, does the leader have refined systems to provide true mentorship, training, and support, thereby maximizing each team member’s potential?

    Now, that’s a winning team!

    If I could do it all over again, I’d try to build a team just like that. Or maybe I still will.

    Can you tell I’ve got hockey in my brain? Go Flames Go!

  • The Only Marketing Method That Matters (to your seller)

    The Only Marketing Method That Matters (to your seller)

    Have you ever noticed how some “celebrity” agents boast about how much money they spend on “marketing?”

    Oh, they spend a pile!

    But those agents could blow literally millions on radio and TV ads, billboards, bus benches, and social media ads, and here’s the total net benefit to their seller client:

    Zilch

    Hey, I’m not knocking anyone for promoting themselves. I do it too. Just make sure your sellers understand the difference between “Marketing Yourself” and “Marketing the Listing.”

    Agents who spend the most on “marketing” tell their sellers, “We spend bazillions marketing your property!” But you already know this is complete bullshit nonsense, right?

    When it comes to marketing your listing, there’s only one thing that matters to your seller:

    A compelling presentation on the MLS System

    After all, how else do people find out about your listing?

    One way or another, virtually 100% of potential buyers find out through the MLS System. Even if it’s by some other obscure method at first, like driving by your For Sale sign, where do they go to get more information? The MLS System!

    And what exactly is the purpose of marketing your listing on the MLS?

    It’s to generate as many quality showings as possible.

    So, doesn’t it make pure logical sense that one of the most critical aspects of your job is to produce the most compelling presentation possible on the MLS System?

    Think about the MLS Presentation from the buyer’s perspective on the other end of the Interwebs. Those buyers are scrolling through listings, deciding which properties to view and which not to view.

    Many factors need to come together for a potential buyer to make the critical decision to take time out of their day and drive across town to view your listing.

    For example:

    1. What does the property actually look like?

    How much guidance did you give your seller on this critical factor? For example, did you provide a professional home-staging consultant to help prepare their home and maximize its impact (on the MLS and in-person)?

    2. How magnificent are the images?

    The images are the first thing potential buyers see. Therefore, they need to be of the highest possible quality, follow a logical order, and clearly and efficiently demonstrate the property’s best features. 

    Hot tip: Sometimes, fewer images makes for a more powerful presentation. Don’t use “filler” images. And please never use 50 photos on your listing, unless it’s a multi-million dollar property!

    3. What about the write-up?

    Is it dull, repetitive, predictable, boring, and repetitive? Or have you learned how to get straight to the point and describe the property’s best features in a way that genuinely piques the reader’s excitement and curiosity?

    Side note: Did you know that many agents don’t even write their own descriptions? They hand this critical task off to someone who has never even seen the home! That’s why so many MLS descriptions sound like the same boring robot wrote them.

    If you’re not a great writer, I understand. It’s OK to hire someone to write for you. But make sure you’re involved in the process, so the writer understands the essential features of the property and highlights them in the first one or two sentences.

    The more care and attention you put into all the tasks listed above (and numerous other fine details), the more success you (and your sellers) are likely to have. Even if only one additional person comes to view the home, they could be the one!

    __________

    If the MLS Presentation is so important (it is), why do so few agents even talk about it during their listing presentation (I sure do) or put any real effort into producing the most compelling presentation they can?

    Why do so many “celebrity” agents brag about all the money they spend on “marketing” and then put little to no effort into what really matters to the seller?

    It’s because their focus is on getting more business rather than attending to the business they already have.

    Agents ask me all the time, “How do I become successful?” 

    My answer? Focus on delivering excellence to each and every client, and before you know it, the business will come to you.

    It’s the most rewarding way to be, both personally and professionally.

  • Have We Passed the Peak of the Market?

    Have We Passed the Peak of the Market?

    I’ll be using local (Calgary) data in this post. However, it’s not the data itself that is important, but rather how and why you should gather and demonstrate this critical information to your clients. You can easily do this in a few minutes, no matter where you are.

    We’ve had a wild market here for some time, but I’ve been feeling lately like it’s not quite as crazy as it was. So the question is, “Have we passed the peak?”

    It’s entirely valid that an experienced and skilled Real Agent will develop a sixth sense about the market. But when the public is saturated with news about how insane the market is, it’s hard to convince them of a contrarian viewpoint just because you “feel” a certain way.

    You want people to make good decisions? Give them good data. The monthly sales numbers are good. But what’s better than monthly data?

    Weekly data. 

    So, here are the weekly sales (since Feb 1) for detached homes in Calgary, which I just pulled from our system in less than five minutes:

    Date Range | # Sales

    Feb 1-7 | 404

    Feb 8-14 | 499

    Feb 15-21 | 480

    Feb 22-28 | 518

    Mar 1-7 | 547

    Mar 8-14 | 505

    Mar 15-21 | 523

    Mar 22-28 | 486

    Mar 29-Apr 4 | 453

    Apr 5-11 | 424

    Apr 12-18 | 394

    So, there you have it; we are indeed well past the peak of the market. The numbers prove it.

    This doesn’t mean the market is likely to change radically. On the contrary, there is still plenty of pent-up demand, so I believe the market will remain strong for some time.

    But it’s essential to understand when a market is shifting and contemplate possible explanations, such as:

    1. Some buyers have given up.

    Prices have risen dramatically to the point that some buyers can no longer afford to buy what they want. Others have lost out on so many multiple offers that they’ve given up out of sheer frustration.

    2. Remaining buyers are more conservative.

    Most of the “gun-slinger” buyers—those willing to write unconditional offers far over asking—have already bought. The remaining buyers are more patient and willing to wait for the right house at the right price.

    3. Inventory is still extremely low.

    This part hasn’t changed, but it does tie into #2 above. Since the remaining buyers are more conservative, they’re not jumping on whatever listing hits the market, as was the case earlier in the year.

    4. There are more over-priced listings on the market.

    This is because sellers are working off “old” inaccurate data. They think if a house sold for $750K in March, it must be worth $850K now!

    The main reason for this? Their agents are unskilled and do not provide their sellers with the correct information they need; for example, the information I’m discussing in this post!

    5. Concerns over rising interest rates, inflation, and the general state of the world.

    These are all valid concerns, and they tend to weed out the more conservative buyers. 

    All five causes above are interrelated. So, what’s the point of all this?

    Your clients need clear information to make intelligent decisions.

    It’s your job to provide that information.

    Weekly sales data can be another insightful factor to consider when determining the price of a listing. After all, over-pricing is the kiss of death in an active market (or any market). 

    It’s also an easy way to differentiate yourself from the real estate drones.

    __________

    From the Mirriam-AgentSkills dictionary:

    real estate drone drōn a real estate agent who provides the exact same information as every other real estate agent.

  • The 3 Most Critical Elements of Every Great Real Estate Agent

    The 3 Most Critical Elements of Every Great Real Estate Agent

    Integrity – “I care.”

    Do you lose sleep because you’re worried about your clients? Good. This means you have high integrity. 

    But integrity isn’t merely wanting to do the right thing. It’s about taking your responsibilities seriously and seeking out the knowledge and skills you need to deliver better results.

    That’s why the more knowledge and skills you have, the better you sleep!

    Knowledge – “I know.”

    Knowledge is the deep chest of information you rely upon to make informed and intelligent decisions and recommendations to your clients. 

    But knowledge doesn’t create success on its own. You need skills to fully utilize and monetize your knowledge.

    Skills – “I can.”

    Skills are how you bring everything together to accomplish more with ease and confidence. 

    A highly skilled agent with high integrity and a deep chest of knowledge, is unstoppable.

    __________

    It’s possible to have high integrity and a deep chest of knowledge but low skills.

    These agents know what their clients should be doing, but somehow they can never get the message across. As a result, they often become disillusioned with their careers.

    __________

    It’s possible to have high integrity and highly-refined skills but lack the deep foundational knowledge that those skills should be built upon.

    These agents make an excessive number of mistakes and often quit the industry out of sheer frustration, ironically, because they have high integrity.

    __________

    It’s possible to have deep knowledge and highly-refined skills but lack integrity.

    These agents focus on their own needs rather than their clients’. Despite the never-ending bluster and bravado, they’re not nearly as successful as they like to portray. They rarely get repeat business or referrals, so they need to continuously spend heavily to attract new business. As soon as they stop advertising, their business grinds to a halt.

    __________

    To become a great agent, you need all three elements:

    Integrity, knowledge, and skills.

    When you can honestly say, “I care, I know, I can,” it’s impossible not to become highly successful in Real Estate. (And you can stop chasing after low-quality “leads.”)

    The integrity part is a critical prerequisite that can’t be taught. 

    Knowledge and skills?

    The more you gain, the easier it gets.

    Wait. Is this a blatant advertisement to sell my course?

    Sort of, but actually, I’ve got an ulterior motive.

    Here’s how you can become the best REALTOR® you can be with unlimited lifetime access to the Agent Skills Master’s Program (do it at your own pace), and 100% of the proceeds go directly to support Ukrainian refugees:

    Simply click on this link: https://agentskills.com/ukraine/

    It’s the lowest price EVER offered and I don’t even want to see the money—only the charitable receipt.

    What do I get out of it? 

    The knowledge that me and you are making a real difference to people who desperately need our help.

    Have you been sitting on the fence? Now’s the time to jump off.

    On behalf of all Ukrainian refugees, THANK YOU.

  • ‘Running the Odds’ on Real Estate Pricing

    ‘Running the Odds’ on Real Estate Pricing

    ‘Running the Odds’ is a simple technique to help sellers and buyers take some of the mystery out of pricing.

    Here’s an example where my listing clients and I are trying to determine the best list price (somewhere between $799,000-$825,000).

    Option 1: Sale Price Odds with $825000 List Price

    <$800,000 = negligible ~ 0%-1%

    $800,000-$820,000 = 25%

    $820,000-$835,000 = 25%

    $835,000-$850,000 = 25%

    >$850,000 = 25%

    Option 2: Sale Price Odds with $799,000 List Price:

    <$800,000 = 10%

    $800000-$820,000 = 10%

    $820,000-$835,000 = 15%

    $835,000-$850,000 = 30%

    >$850,000 = 35%

    The odds are based on my experience and my property evaluation, accounting for the current market conditions, which are bonkers in my local market (slightly less bonkers than a month ago but still bonkers). So yes, I’m fully expecting multiple offers in both scenarios. But I also know that the higher the list price, the fewer offers are likely to be generated.

    (By the way, if you’re an Analyzer, don’t get hung up on the numbers in my example. You would need far more information to determine if I’m right or not, so just concentrate on learning the basic technique.)

    Here’s the message I want my clients to get: 

    If they choose the lower list price ($799,000), the odds are about 10% that they’ll get less than $800,000 (if they only get one offer). But, conversely, the odds would be higher that they’ll get a sale price of $835,000 or more (65% vs 50%) because a more aggressive list price in our current market increases the odds of more offers. Right?

    Of course, you can break this down further or show alternate scenarios, depending on what the client wants to understand.

    Now, it’s up to the client to choose! 

    For example, if they don’t want to risk even a 10% chance of ending up with a sale price under $800,000, they may choose the “safer” list price of $825,000. 

    On the other hand, if they have a higher tolerance for risk and choose the more aggressive list price ($799,000), I believe they’ll get more offers, and therefore they have a higher chance of hitting a home run. 

    By ‘Running the Odds’ with your clients, you’ll provide options and allow them to make their own decision based on their risk tolerance.

    So how do my clients feel about receiving this type of information?

    They love it! They feel relieved and enlightened, like I’ve completely removed the mystery around pricing. What felt like a crap-shoot before now seems like a simple solvable problem.

    Of course, this isn’t the only information I provide to my clients to help them make informed and intelligent decisions. For example, ‘The Big Picture CMA’ and ‘Pricing Psychology’ are two of the modules in the Agent Skills Master’s Program that help me arrive at the correct price range in the first place.

    (By the way, I’ve just recently updated the module descriptions on our website if you’d like to learn more about these modules. Just click on the link above and scroll down to “module descriptions.”)

    You can ‘Run the Odds’ on the buyer’s side also, using a similar methodology when you’re deciding on a price in a multiple-offer scenario.

    What are the odds of winning with varying prices in a multiple-offer scenario? 

    ‘Run the Odds’ to paint a clear picture and allow your clients to decide how badly they want the property.

    This can be a great way to demonstrate to your buyer clients that they have more control than they think they do. Simply use your skill and experience to determine the different odds.

    I’m curious if any other agents are using this method or something similar. Please let me know! 

    I’m always interested in fine-tuning my systems and procedures, as you should be too!

  • The Formidable Combination of Mindset and Organizational Skills for REALTORS®

    The Formidable Combination of Mindset and Organizational Skills for REALTORS®

    When I first got my Real Estate license, I had zero clients and zero prospects. 

    It took me three months to complete my first transaction—a sympathy listing—which I screwed up royally. 

    Then I went straight back to zero clients and zero prospects.

    Slowly but surely, I figured out what to do, and by the end of my first year, I had earned $180,000 in commissions. From my 2nd year on, I earned between $590,000-$865,000 for 12 consecutive years, all as an individual agent.

    I get asked all the time HOW I ramped up so quickly, starting from nothing.

    But when I answer, agents always look at me sideways and walk away, muttering that I must be lying. 

    Sometimes I feel like just making up an alternate story, but it’s not in my nature. So, believe it or not, here is EXACTLY what I did:

    1. I read numerous books and articles about customer service

    2. I talked to other agents about what made them successful

    3. I looked at hundreds of properties (by myself since I had no clients), taking extensive notes

    4. I worked on developing and refining my systems and procedures

    I also had a successful business background, so that certainly helped. But here’s the key:

    Instead of wasting my time chasing after clients and not knowing what to do with them, I spent my time developing my skills FIRST.

    To this day, when I’m not busy, my mind wanders to figuring out how to be better. What tiny (or gigantic) improvement can I make to become a better agent?

    Some things take five seconds, while other bigger projects need to be broken down into numerous chunks.

    But no matter how tiny (or gigantic), EVERY idea and task gets written down on my Brain Clutter List. More about this system in my last post:

    4 Ridiculously Simple Tips for REALTORS® to Become 10 X More Organized

    One agent read that post and asked me:

    “OK, Ted, But what exactly do you write on your list?”

    My answer: E.V.E.R.Y.T.H.I.N.G.

    Every tiny (or gigantic) thought that pops into my skull—20-30 items a day on average.

    He responded, “But doesn’t your list get cluttered and unmanageable?”

    Well, I suppose it would if I never managed it!

    It’s not about writing things down and forgetting about them. It’s the opposite. It’s about having a system to remind yourself about everything you need to do and then taking action.

    I’m knocking things off my list all day long. In fact, every time I look at my email, I scan my Brain Clutter List at the same time. Then, every morning, I review the “leftovers” and move some items onto my calendar, or onto a different list, or sometimes I just leave it, knowing I’ll get back to it later.

    Read this if you’d like to learn more:

    5 Easy Steps for REALTORS® to Defeat Procrastination

    __________

    Let’s get back to how I was able to advance my career so quickly:

    First, I was ALWAYS trying to think of what I could do to become better, and then I spent my time implementing those ideas. But here’s a vital lesson:

    It’s not one GIANT thing that will change your business and life. Instead, it’s hundreds and thousands of tiny things all strung together.

    But those things simply don’t get done if you don’t write them down! Ask yourself:

    What improvements have you made in the last week?

    Nothing? Perhaps you should start writing things down (and taking action). People who rely too much on their memory rarely advance their careers at any measurable pace.

    So, the answer to the big question, “How did I ramp up my business so quickly?”

    1. I had a mindset of constantly trying to get better, and;

    2. I wrote down EVERY idea and acted on it.

    You can do the same thing! 

    Try it for ONE day, and you’ll be shocked at how much more you get done. (Or, how little you got done the day before.)

    __________

    By the way, did I give the impression that all my ideas actually worked? Hahaha!

    I’ve spent hundreds of thousands of dollars and thousands of hours learning the hard way. But you don’t have to.

    Take a tiny leap of faith and sign up for the Agent Skills Master’s Program and learn EVERYTHING I know without all the trial and error and sweat and tears that I’ve expended over my entire career.

    I wish someone had made a course like this for me when I first started. Try it for FREE for  one week (first two modules). You don’t pay unless you decide to continue.

  • 4 Ridiculously Simple Tips for REALTORS® to Become 10 X More Organized

    4 Ridiculously Simple Tips for REALTORS® to Become 10 X More Organized

    Most REALTORS® are remarkably comfortable operating in a state of constant chaos. I speak to agents all the time who seem to take great pride in their “ability” to function with few or zero organizational systems.

    Whether this is good for their cash flow is another question, entirely. (Hint: It’s not.)

    I am not a naturally organized person, either. In fact, I think very few REALTORS® are. If we were, perhaps we would have pursued a career in accounting. Ewwww!

    That said, if your goal is to complete 50+ or 100+ deals per year, you must learn to utilize some basic organizational skills to increase productivity and decrease anxiety. 

    The following ideas are so ridiculously simple that if you’re not already doing them, you can start immediately. I mean today.

    #1 Stop Relying on Your Memory

    Have you ever made a mental note about something you needed to do, got distracted, and then completely forgot all about it? 

    Has your memory ever cost you $10,000 or $20,000 (a missed opportunity to pick up a new client, for example)? 

    Even if you can honestly answer “no” to that question, it’s probably only because you don’t remember!

    How many ideas do you think of and forget every day—ideas that could improve your business or increase the likelihood of a future sale—that never get implemented?

    Personally, I’ve got ‘Brilliant Ideas’ and Things To Do’ popping in my head like popcorn, 24/7, which I immediately write down in my Gmail Tasks List. I’ve named my list “Brain Clutter” because it allows me to get the clutter OUT of my brain and ONTO a list.

    If I’m on the run, I simply tap the Tasks App on my phone and quickly write down whatever Brain Clutter I have going on. Usually, one or two words are enough to trigger my memory later, when I review the list. 

    The habit of writing down thoughts and ideas prevents me from forgetting things and frees up my brain to concentrate on the big picture.

    Do you ever find yourself using all your powers of concentration trying to remember six different little things? 

    Out of the Brain and Onto the List

    I use Gmail, but there is a Tasks List or To-Do List included with every email application, so use whatever you have already. Don’t make this more complicated than it needs to be. 

    The main point is to STOP relying on your memory, and START writing things down!

    (But not on cocktail napkins.)

    #2 If it takes less than two minutes, DO IT NOW

    Often, when you think of a simple task, the most efficient way to get it done is to DO IT NOW while it’s fresh in your mind. 

    Actually, when I think of a short task, I typically write a word or two on my Brain Clutter List first; then I complete the task, then I delete it. This ensures I don’t get distracted and forget.

    Plus, it’s ever so satisfying to delete tasks from my Brain Clutter List!

    #3 Keep a Prospects/Current Clients List

    Unless you are an absolute pro at using your CRM, I strongly recommend you keep a very basic spreadsheet with a list of all your current prospects and clients. Prospects tend to get buried deep inside our giant CRMs, so I like to view all my current clients and prospects on a single spreadsheet that I can access quickly whenever I have time.

    This spreadsheet can be as simple as three columns; Column A for last names, Column B for first names, and Column C for the date and most recent activity. For example, “Feb 24 – Sent an email recommending showings this Saturday”. Simple!

    I expand on this system in The Agent Skills Follow-Up module, but you can start with this Ultra Simple 3-Column Spreadsheet, and immediately feel at least 50% more organized. You will be shocked at how many prospects you would have forgotten about before implementing this simple system.

    #4 Review Your Lists Regularly and Establish a Morning Routine

    Now, you need to review your Tasks List and your Prospects List regularly. You can do this throughout the day whenever you have time. And, I strongly recommend adding this into your Morning Routine.

    You probably already have a morning routine and don’t even realize it. For example, you sit down with your morning coffee and review your emails. Now, simply add a complete review of your Tasks List and Prospects List into your routine every morning, and take action on at least a few of the items. For example, set up an ‘Appointment with Yourself’ in your calendar to take care of Task A, and send an email to Prospect B about the new listing that just popped up. Once you’ve dealt with the item, remove it from your Task List.

    __________

    Few REALTORS® are naturally organized, but those who make the most money are the ones who learn to utilize simple organizational techniques. So try these four, and tell me I’m wrong. I double-dare you.

    Just go to your task list right now, and write, “4 Simple Rules”. That’s all you need to do for now. This will trigger your memory when you read it later and have more time to implement the ideas.

    If you’re thinking to yourself, “I’ll remember to do this later,” go back and read #1 again.

    STOP RELYING ON YOUR MEMORY. 

    For more ideas on how to stop procrastinating, read this: 5 Easy Steps for REALTORS® to Defeat Procrastination.

  • 5 Easy Steps for REALTORS® to Defeat Procrastination

    5 Easy Steps for REALTORS® to Defeat Procrastination

    Are you procrastinating on updating your website, writing a new listing presentation, completing an online course, or some other major project?

    Procrastination is the #1 productivity killer for almost everyone, but I think it’s even more challenging for REALTORS®, for two reasons:

    1. We don’t have a boss dictating deadlines to us, and;

    2. Our days are unpredictable, so it’s difficult to focus on projects that require our undivided attention.

    Dr. Tim Pychyl—head of the Procrastination Research Group at Carleton University—has studied procrastination for over 25 years. Here’s what he has to say on the subject:

    “Procrastination isn’t so much about our ability to manage time, but it’s actually a form of escapism, a way to cope with challenging emotions brought on by certain tasks; emotions such as boredom, anxiety, insecurity, frustration, resentment, and self-doubt.”

    It’s not the task itself you are avoiding; it’s those negative emotions!

    To illustrate this, just pause for a second right now and think about whatever major project you’ve been avoiding. How does it make you feel?

    __________

    See what I mean? You’re probably feeling overwhelmed and anxious. Then you start beating yourself up for avoiding the project when you know it needs to get done. But this does nothing to resolve the problem. It only makes you feel worse. 

    The good news is that procrastination has nothing to do with your character, work ethic, or level of self-discipline. 

    You do not need to be fixed! You don’t need to repair any psychological scars from past failures, broken promises, or unachieved ambitions.

    In fact, you can fix your procrastination problem right now with these five easy steps:

    Step #1 – Forgive and Forget

    You don’t need to understand why you’ve procrastinated in the past. What’s done is done. Your emotions have been sabotaging you with distraction, redirection, and misdirection. Simply accept this and leave it behind.

    Step #2 – Take a Tiny Baby Step

    A tiny baby step is committing to work on your project for FIVE MINUTES. Not an hour. Not half a day. Five minutes. Can you do that?

    Here is the key: 

    Do NOT wait until you’re in the right mood. Do NOT clean up your email first. Do NOT make that one last phone call. These are all stall tactics triggered by your fear of negative emotions.

    IGNORE all those distractions and, “Just do it!”.  

    This could be as simple as opening up a document and writing a few preliminary notes for your website project. Or write a list of resources you need to update your listing presentation. The key is to START the work and commit to at least FIVE minutes.

    This may sound ridiculously simple, but it’s also shockingly effective. Why? Because taking that first step leads you forward. It breaks through the imagined brick wall you’ve created for yourself.

    In the journey of a thousand miles, it truly is the first step that seems the hardest. But once you’ve taken it, you’ll be pleasantly surprised that it was so easy. The first step leads to the second and the third. Then, all of a sudden, you can feel momentum carrying you forward.

    This is why you need to make that first action as tiny as possible so that you can make it quickly with no friction and no mental or emotional negotiation required. 

    Five minutes is all it takes to get started. 

    Step #3 – Make an Appointment with Yourself

    Once you’ve completed the first five minutes of your project, you’re going to want to keep the momentum going.

    But you have to make sure that what you NEED to do is EASY to do.

    One of the essential organizational skills I teach is the concept of ‘Appointments with Yourself.” These are times you’ve blocked off on your calendar to work on tasks. But here’s the key:

    You must honour every Appointment with Yourself in the same way that you would honour an Appointment with Your Best Client or even an Appointment with Your Dentist.

    Think about it. It’s 1:00 pm, and you’ve got a dentist appointment at 3:00. However, your client calls and wants to see a property at 3:00. Do you cancel your dentist appointment?

    Of course not! You tell your client you’re booked at that time, and you schedule a different time to show the property. Why? Because you respect your dentist’s time. 

    So here’s an essential personal rule you need to adopt right now:

    I will honour every Appointment with Myself with the same level of respect as I treat an Appointment with Anyone Else.

    Once you set an Appointment with Yourself, it is non-negotiable and non-interruptible. If you can’t agree to those terms yet, do NOT make an Appointment with Yourself.

    On the other hand, don’t get all excited and set up 17 one-hour Appointments with Yourself! This is a skill that you must practice and master, just like any other skill.

    For starters, book one more 5-minute Appointment with Yourself, prove to yourself that you can honour it, and then set up another one for 10 minutes or longer. The more times you follow through, the easier it will get, and the more you’ll accomplish. 

    By doing this, you’re building a foundation for future success at defeating procrastination. 

    Ted Tip: Always set up Appointments with Yourself on weekday mornings, when they are least likely to interfere with your clients’ needs.

    Step #4 – Chunk Your Project

    “Chunking” is breaking down your giant project into manageable chunks, so it doesn’t seem so overwhelming. 

    Chunking is the first thing you should do when starting a big project: Chunk it out.

    Then, tackle one (and only one) chunk at a time. This gives you a feeling of accomplishment and keeps you moving forward. 

    Chunking also helps to minimize the emotion of feeling overwhelmed.

    Step #5 – Eliminate Distractions

    Imagine setting up your desk in the middle of a busy intersection and sitting down to write a novel. Cars are whizzing by blasting their horns, and more than a few drivers are leaning out their windows cursing you out. One particularly nasty fellow tosses his drink at you.

    This is the equivalent of you working on your major project while your phone is going off every 30 seconds, with the TV is blaring in the background, and the dog scratching at the door, wanting in and out and in and out.

    You need to eliminate all that! 

    Your number one distraction? It’s your phone. You know it. I know it. Your spouse knows it. Your kids know it. Your friends know it. Hopefully, your clients don’t know it.

    It’s impossible to get anything done with that thing ringing and bleeping and pinging every 15 seconds. So when you’re in an Appointment with Yourself, TURN IT OFF! You can start practicing this in your very first 5-minute session. 

    And guess what? When you turn your phone back on, nothing terrible will have happened! I promise!

    Also, get yourself into a quiet space, close the door, log out of your email, put on your noise-cancelling headphones, WHATEVER you need to do to eliminate ALL inputs and tugs on your attention from the outside world.

    You’ll be amazed at how much work you get done, even in a short session.

    As you get better and better at these skills, you will naturally look to re-engineer your environment to root out all the temptations that you once used to help you delay and procrastinate.

    If you’re reading this and telling yourself, “it can’t possibly be this easy,” that’s your emotions attempting to control you, once again. 

    It’s time for you to take control of your own brain and stop allowing your emotions to control what you do and what you don’t do.

    Follow these five simple steps to unleash your true potential, and eliminate procrastination forever.

    1. Forgive and Forget

    2. Take a Tiny Baby Step

    3. Make an Appointment with Yourself

    4. Chunk your Project

    5. Eliminate Distractions

    Credit to Darren Hardy for reminding me how easy it is to defeat procrastination. I’d fallen into a rut and forgotten to follow my own advice. Hey, it happens to ALL of us! But now I’m feeling revitalized and positive, and I’m accomplishing more than I have in ages.

    If I can do it, so can you!

  • How to Keep your Trust Battery Fully Charged

    How to Keep your Trust Battery Fully Charged

    Real Estate is a relationship-based business. And nothing degrades a relationship more than a lack of trust. 

    Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships together. — Stephen R. Covey

    __________

    Real Estate can be incredibly frustrating at times, especially if your clients don’t fully trust you. Conversely, the smoothest transactions are the ones where your clients trust you completely and always follow your best advice. Am I right?

    But trust isn’t black or white. There are degrees of trust. 

    Tobias Lütke (CEO of Shopify) talks about the “trust battery” as a metaphor that helps you think about and visualize levels of trust.

    Each time we interact with someone, we are subconsciously considering the level of charge in our trust battery, and this reflects how we respond.

    This applies to ALL your relationships, including friends, family, colleagues, team members, and clients. 

    Every time you have a positive interaction with a client, your trust battery gets charged. Conversely, seemingly insignificant negative events can quickly drain the trust battery. 

    For example, you promised to send your client some information, but you forgot. Or, you were five minutes late for an appointment, and your client is NOT a time-optimist like you are. (What’s a time-optimist?)

    There are a thousand ways to drain a trust battery. These incidents may seem minor or unimportant to you. But if your trust battery gets drained too much, it can adversely affect an important future event.

    For example, in my local market (Calgary), we are in the midst of the craziest seller’s market EVER. Every good listing is selling immediately with ten or fifteen offers. I was involved in one with 28 offers recently. 

    So how do your clients react when you tell them they probably need to offer $81K over asking, as I did recently? How’s your trust battery with that client? 

    You see how important this is?

    The above example just happens to fit the current narrative, but it’s ALWAYS important to maintain a strong trust battery with your clients.

    HOW, you ask?

    Integrity? Of course, BUT…

    Integrity is just one of the components needed for a fully-charged trust battery. 

    Think about this: Do you know anyone who is a good, honest, decent person (with high integrity) and also a gawd-awful REALTOR®? 

    Yeah, me too. They have the best of intentions, but high integrity alone does not make a great agent.

    Skills do. Skills and experience and mindset and hard work. When you combine those attributes with high integrity, the result is a fully charged trust battery.

    Regarding mindset, think about your primary focus, first name. What drives you?

    Is it getting more leads to chase? Convincing more prospects to hire you? Collecting more commission cheques?

    Or, is it increasing your knowledge and skills in order to serve your clients better? If so, you already know that the commission cheques take care of themselves if you have the right attitude. 

    __________

    Confession time:

    I just heard about the concept of the trust battery last week on a Darren Daily episode, and it hit me like a ton of bricks!

    Luckily, when I wrote Relationship Selling and Communication Styles (two of the fourteen modules in the Master’s Program), I already possessed all the essential attributes required to build a strong trust battery.

    I hadn’t thought about it when I wrote those modules, but the underlying message in both of them is all about increasing the trust between yourself and your clients. 

    Remember what Stephen Covey said? Here it is again, slightly abbreviated:

    Trust is the most essential ingredient in effective communication.

    That means to be a great REALTOR® you MUST be a great communicator.

    Luckily, fully charging the trust battery between you and your client and becoming a great communicator are 100% learnable skills. 

    Ted Greenhough

    Agent Skills, Corp.

    I teach GOOD REALTORS® how to become GREAT REALTORS® with a simple, logical, easy-to-follow, step-by-step program.

  • Lessons from the Past

    Lessons from the Past

    Happy New Year!

    Whenever a New Year rolls around, most of us make plans for what NEW stuff we’re going to implement into our lives. But I prefer to reflect on past lessons (the OLD stuff) and consider whether I can still apply those lessons today. Somehow it seems much easier.

    At first, this message may seem like it’s got nothing to do with Real Estate, but I promise it does. In fact, it might be the most powerful lesson you can ever learn.

    When I was 26, I started a wholesale motorcycle parts distribution company called Power Twins Performance Parts. ️

    All I could afford to rent was a 400 sq ft mezzanine in the back of a warehouse, so every time I got an order, I had to climb up a ladder and back down again, balancing a box on my shoulder. It’s a wonder I never smashed my skull on the concrete below.

    I had no idea what I was doing, so I just straight-up asked the dealers across the country, “What do I need to do to earn your business?” 

    Their responses were remarkably consistent and straightforward:

    “Have the parts in stock and deliver them fast!”

    Alrighty, then!

    Based on this, I focused on two things:

    First, I vowed to have the best fill-rate in the industry. It wasn’t easy since I had extremely minimal cash flow. But I was determined. 

    I watched the inventory like a hawk and placed smaller, more frequent orders with my suppliers. This often meant re-ordering on the very day I sold the ONE item I had in stock. 

    Of course, this was much more work and more costly, but I offset that by quickly improving my fill-rate to over 95%; a number that was unheard of in the industry.

    My customers started to take notice.

    Next, I established contract rates with the major national couriers and began delivering over 90% of my shipments OVERNIGHT for FREE. (This was years before that Bezos guy started flogging books out of his garage.)

    Suddenly, my little company was a trend-setter. My customers were amazed at the new standard I was setting for super-fast, reliable delivery.

    My much larger fat-cat competitors stirred in their sleep and blinked just a little bit. But they must have figured it was only a matter of time before I bankrupted myself. After all, how could I possibly afford to offer free overnight shipping? 

    Well, I had to run lean and mean, and I offset a portion of the extra cost with slightly higher prices.

    But my customers were quite happy to pay a little more for fast, reliable service. After all, I was delivering exactly what they asked for.

    My sales increased rapidly over the next few years, and I negotiated better and better rates with the couriers, so my profit margins steadily improved.

    By the time my competitors finally woke up, it was too late for them. I was no longer the “little guy.” They scrambled to catch up, but I was always five steps ahead of them.

    Out-Think, Out-Service, Out-Sell

    Having the best fill-rate and providing the fastest delivery were two of the most important examples of how I out-serviced and out-sold my competitors, but there were many other programs I implemented over the years, all based on customer feedback.

    By focusing on delivering a superior experience to my customers, I never had to worry about the bottom line. In fact, I grew my sales at an average rate of 55% every year for 14 years.  From a tiny start-up, my business eventually became the national leader in the industry, and it’s still around today, operating as Parts Canada.

    So, what does all this have to do with Real Estate?  Only everything.

    In business (and life), it’s all about your attitude.

    When I started in Real Estate—just as in my previous career—I asked people what they wanted, and once again, the answer was simple and straightforward: 

    “Better communication and guidance throughout the process” were the main answers I got. So, once again, I listened and figured out how to deliver.

    Keep it Simple

    My success in the motorcycle parts business was simple. I asked my customers what they wanted, and then I figured out how to deliver.

    In Real Estate, it’s the same thing. Stop chasing commission cheques, and start figuring out how to deliver what people want.

    “Try not to become a person of success, but rather try to become a person of value.”  — Albert Einstein

    My third major life venture (Agent Skills) is where I get to SHOW you how to become a person of value. When you achieve that, success naturally follows.

    It really is that simple.

    Ted Greenhough,

    Agent Skills, Corp.