In this Episode We’ll Cover: Look For Negative Feedback!
a. Maxwell Maltz & The Guided Missile Theory!
b. Measure Your Critiques Against Your System Not Your Emotions!
c. Seek Out Second & Third Opinions Before Changing!
d. Never Get Fooled Into Believing It’s Ever “Fixed
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In this Episode, We’ll Cover: Why Being A Proactive Hunter Matters!
a. You Have A Lot Of Competition For Your Clients Eyes
b. You Are Risking Your Relationship By Waiting Back
c. Leverage Your Access To The Source (MLS)
d. Be Proactive And Hunt For Relevant Information.
e. Technology Is Only A Threat To The Lazy Agents
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In this Episode We’ll Cover: Stop Hearing What You Only Want To About Your Business
a. Critical Thinking Is A Key Requirement For Success
b. Seek Disagreement Before All Major Decisions
c. Always Consider The Other Perspective To Learn What You’re Missing
d. Dedicate Time To Work On Your Strategic Plan
e. Be Humble & Recognize The You Don’t Know What You Don’t Know
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CRITICAL THINKING IS A KEY REQUIREMENT FOR SUCCESS
Strategic planning requires critical thinking in any business, and especially in real estate. Are you thinking critically about marketing, for example, or are you dismissive when someone tries to give you advice? The person who is constantly thinking, watching, learning and analyzing critically is more likely to succeed than someone who remains static and doesn't think about their business. Especially in this day and age!
SEEK DISAGREEMENT BEFORE ALL MAJOR DECISIONS
Disagreement that collides with the way things are helps us to think critically. Think of a debate coach who's really tough on a kid to help sharpen their skills. I will always agitate you to THINK critically before making any business decision. It's like fingernails on a chalkboard to me every time I hear agents making whimsical decisions because they heard someone is "killing it with this message." Stop and think, people! You should always seek disagreement before making a major decision. Your brain will actively try to avoid disagreement - but you should be looking for it.
ALWAYS CONSIDER THE OTHER PERSPECTIVE TO LEARN WHAT YOU'RE MISSING
The other perspective can often reveal something you're missing. You might think something is a great idea initially, but a colleague with another perspective could reveal that a new marketing fad might not be the best way to spend that money. What if an even better idea is revealed when you seek out the other perspective?
DEDICATE TIME TO WORK ON YOUR STRATEGIC PLAN
At my live events, I press agents to think strategically about their business. It's all modular, like these podcasts, only it's a deeper dive into specific modules. And it is dedicated time. Sometimes you need to shut everything down, get away from your marketplace and dedicate time to work on that strategic plan. We agitate attendees to think about these things, write them down and then debate the points with each other and disagree. Get serious about sequestering yourself away and dedicating time to work on your strategic plan.
BE HUMBLE & RECOGNIZE THAT YOU DON'T KNOW WHAT YOU DON'T KNOW
This is a great piece of advice for life in general. I happened to get it from a guy whose work I really respect: Michael Gerber. I met him a few years ago and he told me, "Remember, you don't know what you don't know." That was a humbling experience for me. The minute you lose your humility and fail to be a learner, you begin to lose traction. Think, "What don't I know today?" and keep moving, because business is relentless.
In this Episode We’ll Cover: Why You Should Hope It’s Very Difficult!
a. Stuff Gets Real In Real Estate
b. My Buyer & The Math & Fear
c. My Seller & The Pain
d. Who You Must Become To Be Successful
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STUFF GETS REAL IN REAL ESTATE
I'm not aware of any small business, including real estate, that is "easy." The path to success is difficult. Michael Gerber taught me this important lesson one time when I met him, which was, "We don't know what we don't know." This is pretty foundational for this podcast episode: Learning is about work ethic.
Let's get to it: "Stuff" gets real in real estate. Things can go haywire quickly. The most intelligent, emotionally mature person can go crazy when we're dealing with real estate. It's one of the largest emotional transactions they'll ever make in their lifetimes. Therefore, it's crucial for you to be a good learner as a real estate agent and to work hard to LEARN. You're supposed to be guiding these people as they're going crazy! A real estate sale is a chaotic event and you need to be a rock in that storm. Here are two important anecdotes from my past week.
MY BUYER & THE MATH & FEAR
This first client had her whole life ripped out from under her in a divorce. As realtors, we understand this happens a lot. Because she's in my past client pipeline, she decided to make a move and contacted me. She was highly motivated and wanted to get out her condo and into a single-family home, plus some real estate investing. The selling side went great. But on the buying side, I failed to recognize the fear that was bubbling up inside her. This is a lengthy story but listen to this section for the solution and outcome -- and how I was able to help her through patience and learning on my part.
MY SELLER & THE PAIN
A lot of people are in pain when they're going through the real estate process (think divorce and death). This second client, a seller, was a maintenance guy. Everything at the house was immaculate -- if something had needed done, he did it. I learned during the process that his wife had recently died. At one point during my talk with him, he went off... on me. It was the most emotional explosion against me that I've seen in 20 years. The previous client was dealing with fear and this one was dealing with unimaginable pain -- which was an avalanche on ME. Listen to learn how I engaged with and helped this seller.
WHO YOU MUST BECOME TO BE SUCCESSFUL!
This is really about who you must become to be successful in this business. I can teach you tactics until the cows come home, but those tactics will only get you so far. You must become an emotionally secure person who can walk into these situations -- often charged with fear and pain -- and HELP people. That's the business we're in. That's how you're going to be successful.
In this Episode We’ll Cover: What Is Magnetic Marketing?
DAN KENNEDY: MESSAGE TO MARKET MATCH
"Magnetic marketing" is a term that I first heard Dan Kennedy use at an event. He was talking about the concept of message-to-market match. That resonated with me, because marketing is the great puzzle of small business. If you run a small business, you have to think about marketing. And isn't it sexy to think, "How do you magnetically attract business?" What Kennedy is really saying if you can get the right message to the right person at the right time, you can magnetically attract them in to you. Sounds great, right? Keep in mind that this isn't the Easy Button that you just press and business magically comes to you.
ISN'T THE IDEAL CLIENT A FARCE?
It starts with the idea of the "ideal client." Let me ask you this with some controversy: Is the ideal client a farce? Not from a marketing standpoint! From a cash-flow standpoint, then yes, maybe the ideal client is a farce; you'll do business with anybody if you're hungry enough. But if you fall into that trap, you can end up spending your career marketing to the wrong type of client and wondering where it all went wrong. When you take the time to figure out your ideal client, you can then spend time honing a message to attract that type of client. Where does that person live and is that an isolated geographic area where I would want to work?
ISN'T TRYING TO "ATTRACT" CUSTOMERS A COP-OUT?
Not at all - that's not the point. This dovetails with the concept of giving away your best stuff for free. If you can grasp giving away your best stuff for free, you will understand that this is at the heart of a magnetic offer. You must give away free content in this day and age. Look at all the free content that's educating you and drawing you in. If it happens to you all the time, why would it not work with your ideal clients? Give away your guidance on a regular basis. Giving away your guidance attracts people to want more.
PROACTIVE DELIVERY IS THE BEST IN REAL ESTATE!
Proactive delivery of this magnetic message is really important in real estate. It's crazy how real magnetic marketing is when done correctly. Direct marketing worked to a certain extent for me. But when we took a proactive approach and added telemarketing to the mix -- calling people, telling them about our free guidance and offering to send it to them -- everything started to change. I do this every day and it works.
In this Episode We’ll Cover: Top Producer Mistakes!
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TOP PRODUCERS ARE TOO COMFORTABLE
Let's just get something right out in the open. All of the "top producer mistakes" that I talk about in this podcast are mistakes that I, myself, have made. One of the big mistakes that top producers make is they get too comfortable. Many top producers are just really hard-working salespeople. They are Top Producers because nobody out-hustles them. Hustle is important, but there comes a point where things really start to work for you and you start to close down and get comfortable. It seems to be working, so you just rinse and repeat. I'll explain why that's a problem in a moment.
THEY SPEND TOO MUCH MONEY CHASING IDEAS
When things are going well and the business is a ball of energy, top producers tend to chase any and every idea that comes along: This conference, that person's plan, the new fad and so on. You become an idea junkie. "This other top producer is killing it with this idea" -- so you have to run out and try it. That's a mistake we all make. Instead of chasing an idea, how about asking if there is a way to deploy it in your strategic approach. Once you become too comfortable in your business, if you combine that with chasing ideas, here is the problem: You're buying them. Some of you are paying extraordinarily exorbitant amounts for these ideas. Most small business owners -- and especially top producers -- are delusional when it comes to understanding what it really costs to run their business and turn a profit.
THEY TRY TO CONTROL TOO MUCH
Stop trying to control everything that you do as a top producer. Know when to cede control of certain tasks within your business and then do it. Turn on your management brain and stop trying to control all of the micro tasks in your business. There's only so far that you can stretch your two arms and two legs before something breaks! What's a task that is draining your time that doesn't require YOU to do it? Outsource that task and you can then leverage your time better. You don't think I'm typing up these show notes for the podcast, do you?
HOW TO FIX IT: SLOW DOWN & BUILD STRATEGIC PLANS!
Stop getting so comfortable. Stop pushing away help. Stop spending so much money chasing ideas that may or may not work with yourbusiness. Stop trying to control too much. Here's how to fix it: Slow down and spend a little bit of time building strategic plans. It worked for me and it will work for you.
In this Episode We’ll Cover: That Look In The Seller’s Eye!
a. How Do You Get The Opportunity To Meet Sellers!
b. What Value Are You Truly Going To GIVE!
c. How Organized & Patient Is Your Explanation!
d. What’s The Look You’re After?
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HOW DO YOU GET THE OPPORTUNITY TO MEET SELLERS?
Top producers are obsessed with getting more listings and new agents are wondering where to find listings in the first place. Here's the same advice I've been urging you to do for weeks now: You're going to look for conversations about real estate inside your target market. When you introduce yourself as a realtor, everyone's first question is always, "How's the market?" And then you're in that conversation! Not every conversation leads to a listing, obviously, but if you're not putting yourself out there, why would anyone even consider you? If you want to meet sellers, you must have those conversations about real estate.
WHAT VALUE ARE YOU TRULY GOING TO GIVE?
What value are you going to GIVE? A lot of realtors look at an area and think there's some bigshot realtor who controls that market. Not true! I've rarely seen a market where a realtor controls more than about 1 percent of the listings. Even if you go to an extremely rural area, that "power realtor" will control maybe 10 percent of the market -- leaving the other 90 percent available for others. What you're really doing is making excuses. Pause and think of the value you are going to GIVE to the seller. When someone is listing their property, what is the process they go through and in what order do they go through it? The number one thing you can give is your guidance through the process.
HOW ORGANIZED & PATIENT IS YOUR EXPLANATION?
The goal is to give deeply, with detachment from the outcome. How do you do that? Be organized and patient in your explanation. Get organized first. Be able to explain the real estate process to a seller in as simple a manner as possible. I use a pinwheel with seven steps for buyers (or a one-sheet infographic with six steps for buyers). My steps are simple but thorough. The other part is patience, which many of us lack. Sticking to the process -- the steps -- allows you to be patient with them as you explain it to them. If you start to get lost in the woods or get impatient, that simplified process lets you get back on trick.
WHAT'S THE LOOK YOU'RE AFTER?
So, what's that look I'm talking about? If you're having real estate conversations, and you GIVE the best value that you possibly can, and you are organized and patient in explaining the process to them, you will get the look that I'm talking about here. If you want to know what that look is, well... listen to the podcast for the answer!
In this Episode We’ll Cover: Work In The Real World!
a. You Don’t Have To Know It All!
b. You Are Trying To Solve The Hero’s Problem!
c. Seek To Identify The Problem Especially Those That Reoccur!
d. Memorialize Your Solution & Make It Patent Ready!
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YOU DON'T HAVE TO KNOW IT ALL
We have too much advice from too many gurus online, it seems. Every one of them has advice that we feel like we MUST adhere to, rather than simply trusting ourselves. The problem with all this information is that there's simply a lot of it. Who's right? Who's wrong? Who's an authority? It gets confusing. Trust yourself for the basics and absorb this simple fact: You don't have to know it all to start!
I had no idea what the real estate industry was when I was starting out, but I was confident in my life skillset. I had learned how to help people, how to study, how to deal in business and so forth. Accept the fact that you can learn as you go along in this business -- you don't have to "know it all." There are things that you will need to know, such as the framework for taking a seller or buyer through the process. Concern yourself with learning, rather than worrying because you don't know everything. And for top producers: Always be learning!
YOU ARE TRYING TO SOLVE THE HERO'S PROBLEM
Realtors are not the "hero" of the real estate transaction story. You are the guide. This is a service business and you are guiding people. That's what you get paid to do: Guide people. The hero of the story is the buyer or seller who doesn't have a clue as to what to do. If you remember that, you will get started in the real estate business in a relaxed position. From there, you need to figure out the buyer/seller hero's problem.
SEEK TO IDENTIFY THE PROBLEM - ESPECIALLY THOSE THAT REOCCUR!
I came up with seven steps to helping a seller (generally) and six steps to helping a buyer. I chunked up and simplified the reoccurring problems that would simplify what I was seeking for the individual seller. This allows me to support the hero every time in a very simple fashion: Here are the steps to the process and here is where you are in that process. When you have a foundational process that you stick to, instead of flying by the seat of your pants each time, you can serve multiple heroes at once.
MEMORIALIZE YOUR SOLUTION & MAKE IT PATENT-READY
Once you've done the process a few times and had a chance to study it, take note of where the process went well, and where people consistently freak out. Memorialize and solve those freakouts. Write it down on a checklist. If you don't write things down, eventually your brain will stop doing some of those important little things. Write it down!
In this episode, we'll cover: How To Simplify Your Business
a. What Are The Simplest Common Factors In A Sale?
b. Conversations About Real Estate!
c. Follow Up Regarding Property Information!
d. Showing Properties Whether For A Seller Or To A Buyer!
e. Closing With Care To Create Your Community!
WHAT ARE THE SIMPLEST COMMON FACTORS IN A SALE?
Part of simplifying your business requires you to use your imagination and do it in your head first. It worked for Albert Einstein! Imagine yourself meeting a person -- probably through marketing -- and going through the entire relationship from first contact until they point where they are a past client. Let's break this down into the simplest components.
1. CONVERSATIONS ABOUT REAL ESTATE
You must have these conversations. Low-tech, simple conversations about real estate happen all the time. It's pretty easy to hear people talking about where they live -- their neighborhood. That has to do with real estate. Whether they rent or own, most people are doing something with real estate. This is an easy conversation to fall into. Don't forget: No one wants to be over-pursued in the beginning of this process. Also remember that face-to-face conversations about real estate are the best.
2. FOLLOW UP REGARDING PROPERTY INFORMATION
People need professional guidance through the complex real estate process. That's you! When you find someone who is looking to buy or sell within the next 6 to 12 months, offer them access directly through MLS where they can get properties for sale and properties that sold. Sold properties tell a fantastic story. You're now set up to follow up with them without being a pest, because you've given them something that's micro important to them.
3. SHOWING PROPERTIES WHETHER FOR A SELLER OR TO A BUYER
Whether the prospect is a buyer or a seller, you want to get into properties with them. Show them pointers and give them guidance. After they have access to MLS, get offline so they can see what these things actually look like. Let them know that when they see properties with your guidance, it will make their online search much easier.
4. CLOSING WITH CARE TO CREATE YOUR COMMUNITY
This process outlined above leads to getting the listings, showing properties, writing offers that get accepted and finally, closing with care. Happy past clients can and will lead to future business for you, if you've been a good guide throughout the process and closed the deal with care. They become a part of your real estate community, so you want them to be your biggest fans who will sing your praises once the process is done. Why? Because they may decide to move again one day, and because they will know other people looking to move.
To recap, here's how you simplify your business. Ask yourself: Am I having conversations about real estate? Are those conversations leading to follow-ups regarding property information? Am I showing buyers and sellers properties? And am I closing with care?
In this Episode We’ll Cover: Why You Should Build Your Own Franchise!
a. The Reason Ray Kroc Bought The First Hamburger Joint!
b. Figuring Out What The Consumer Wants First!
c. Memorializing A Formulaic Approach To Guidance!
d. Organizing The Big Picture Franchise!
e. Measuring Your Performance Against The Model!
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In this Episode We’ll Cover: Social Media Marketing Confusion!
a. A Good Social Media Strategy Starts With Your Website!
b. Social Media Posting Versus Marketing!
c. Core Content: Market Update & Tip Series!
d. Syndicate Outwards & Bring Back Inwards!
e. Bonus Section: Match Custom Audience To Messages!
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GOOD SOCIAL MEDIA STRATEGY STARTS WITH YOUR WEBSITE
Social media marketing is confusing. It's a mess. This episode will give you method to strategically approach it. A good social media strategy starts with your website. Your website is the "mother ship" -- it's the dissertation of what you are all about as a real estate agent. Blog posts, videos of listings and other content needs a home. Where do you keep it? You need a vault to keep your stuff in an organized way. Put the content on your website -- the place where your strategic approach begins.
SOCIAL MEDIA POSTING VERSUS MARKETING
Are you constantly posting on social media because you believe that is "social media marketing?" No wonder people are stressed out and confused when they take this approach! Posting is just an activity, not a strategy.
CORE CONTENT: MARKET UPDATE & TIP SERIES
What is the core content that you're going to be posting on social media? The number one thing that people will always ask you when they know you're in real estate is, "How's the market?" Since you're going to hear that question over and over again, be proactive about it! Do a market update once a month about your area. Include things like average price, price per square foot, and how many listings sold in that month versus the last. Give someone a few bullet points about the thing they all ask! Put the statistics in an infographic, talk about them in a video, or use whatever form you want for your update. Make that the very first post in your blog/news feed.
Next, give a weekly tip. What do people do on a regular basis when they buy or sell? Document the process and come up with a weekly tip. These shouldn't take more than a minute to talk about, and all of a sudden you have a lengthy series of helpful tips you can use for content. That's five pieces of content on your blog every month.
SYNDICATE OUTWARDS & BRING BACK INWARDS
Once the content is on your website -- the mother ship -- syndicate outwards by posting it to your social media channels. Use Facebook, LinkedIn, YouTube and other channels to send your content out to the world. When they click on it, guess where they go? Back inwards to the mother ship.
BONUS SECTION: MATCH CUSTOM AUDIENCE TO MESSAGES!
Once the content been produced and posted, then you can start to focus on Google and Facebook ads. Start taking the content and matching it to an audience. If you want to spend any money getting your content in front of people, go back to basics. The social media platforms put your content in front of the people you want to see it, based on age, zip code, income and other specific factors.
In this Episode We’ll Cover: Go To Work!
a. Stop Talking About Distractions!
b. Go To Work Seeking Conversations!
c. Go To Work Creating Prospects To Serve!
d. Go To Work Proactively For Your Clients!
e. Go To Work For Your Community Of Past Clients & Community!
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STOP TALKING ABOUT DISTRACTIONS
Go to work! I've had so many people pick up the phone and call me with distractions -- "What about this? What about that?" It's time for a pattern interrupt. Let's get out of the realm of theory and get to work! What do these distractions that keep holding you back have to do with helping someone buy or sell a piece of real estate? It's exasperating to see so many of you struggling with the distractions -- and there are a LOT of distractions in this multi-trillion dollar business -- that I want to help you get away with it. My best advice is these three words: GO TO WORK! We get so caught up in the distractions that we forget how to better help a buyer and a seller. Get out there and help people. Go to work!
GO TO WORK SEEKING CONVERSATIONS
When you pick up your lunch pail and go to it, what do you do? If you had no resources and had to be resourceful, what would you do? Seek conversations! Seeking conversations about what you do. It's how you drum up new business. Go to work on the problem. Tell everyone you're in the real estate business and be prepared to have a conversation about it.
GO TO WORK SEEKING PROSPECTS TO SERVE
When you have conversations, it leads to prospects -- someone who needs to buy or sell within the next 12 months. Go to work for them for nothing -- zero -- FREE. Set them up with MLS, serve them. Go to work to help prospects and build up your business. Have real conversations and demonstrate to them that you're going to work for them in exchange for nothing. You can shorten a prospect's time frame when you go to work and empower them with knowledge.
GO TO WORK PROACTIVELY FOR YOUR CLIENTS
When you go to work for a prospect and they make the leap to become a client, you have to dig in with them even more so. Go deeper, care for them more. As they go deeper into the relationship, you need to increase your own expectations and level of commitment. Once they've listed with you, go to work! Break the bricks and do the dirty work.
GO TO WORK FOR YOUR PAST CLIENTS & COMMUNITY
When they are your "past client," you want them to be singing your praises for how hard you worked to make it happen. You should give them everything you have, so they will generate future business for you. You were the go-getter when they needed you. GO TO WORK!