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The Realty Classroom Podcast by Danny Griffin

Are you looking to end the whirlwind adventure of being tossed around by your real estate agent job and instead start building a world-class real estate agent business? Then The Realty Classroom with Danny Griffin is the help you need.
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The Realty Classroom Podcast by Danny Griffin
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Dec 5, 2019

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Recognizing the buyer's and seller's Number 1 Fear is critical to your success in the real estate business. What is that fear?

In my experience, that Number 1 Fear which has a global effect on the industry is their fear of being taken advantage of. This is a fear that is very basic to humans. It's a primal fear that we developed a long time ago. Being taken advantage of back in the Stone Age meant you were probably going to get eaten! 

Let's personalize that idea for the modern age: Have YOU ever been taken advantage of? Even if you're super-smart, you know this has happened to you and you know how you felt. In addition to the negative emotions, you probably want to get up and fight anytime you suspect that you're in that sitation again.

So, when you have a buyer or seller who gets triggered, it becomes "fight time" for them. More passive buyers and sellers won't fight -- they'll simply "go dark" on you. Buyers and sellers get emotional, accuse us of taking advantage of them, and then we start getting emotional... Logic simply goes out the window at that point.

In this episode, I'll unpack that Number 1 Fear of buyers and sellers plus go over ways to overcome it. 

Topics on This Episode of the Realty Classroom Podcast:

  • Being Take Advantage Of & It’s Global Affect!
  • Recognizing How Each Consumer Demonstrates It!
  • Sticking To The Safety Of A Systematic Remedy!
  • Not Losing Yourself To The Emotional Crescendo!

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Nov 21, 2019

I talk to a lot of real estate agents who would love to be on social media, but they don't know where to start. It's overwhelming. A lot really active agents on social media have thousands of followers, but you might even not know where to start when it comes to content. Let's chunk it up and make it simpler in this episode of the Realty Classroom Podcast! Just as I did last week's episode on simplifying the real estate business, let's do it again with social media.

Understand that social media is a medium, upon which messages are placed. Here's Step One of simplifying social media: "Google" your own name. What do you find? Probably not much if you're brand new to this! You'll probably find a bunch of other people with your name, and not much related to yourself. If your name or your business' name is not online, wouldn't that be a great place to start?

Next, I go through a checklist of the major profiles that I recommend my coaching clients to have: Facebook, Instagram (perfect for realtors!), LinkedIn and YouTube. Once you have those established, it's time to start on your social media content -- which leads right into a discussion of "How to Do a Simple Market Update."

The key, as always, is to chunk the subject up and keep it simple, simple, simple!

In this episode of the Realty Classroom Podcast, I also discuss:

  • Google Your Business & Name – What Do You Find?
  • Check Your Major Profiles: Facebook, Instagram, LinkedIn &Youtube
  • Create Your Basic Content: Market Update
  • Create Your Tip Series
  • Add Your Just Listed & Just Sold
  • Be Consistent

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Nov 14, 2019

How do you simplify the real estate process? It was so rewarding for me after a recent mastermind class when a top producer who he's known for more than 10 years said, "I finally get the simplification process!"

Your brain can shut down due to the complexities of the real estate business. It seems overwhelming. Running a small business is tough enough, let alone a real estate business. It's a huge financial transaction with many moving parts -- and people GO CRAZY. After 20 years of doing it and more than a decade teaching it, I want you to know that you can simplify real estate sales.

Whether you're a rookie or a top producer, I recommend pursuing the basics. Which basics? The Entrepreneur, who is the visionary; The Manager, who is the disciplinarian; and The Technician who executes. That's it! Those are the three concepts out of Michael Gerber's book that were such a big influence on Danny and can be for you as well.

"It's all about you sticking to these basics of educating somebody and empowering them in the right way." - Danny Griffin

Topics on This Episode of the Realty Classroom Podcast:

  • Real estate sales is simple; how your brain sabotages the process
  • Listen for real feedback and make simple adjustments
  • You have three roles as a small business owner: Entrepreneur, Manager, and Technician
  • How to tie marketing into earning conversion
  • The self-discipline of The Manager; stick to the plan and repeat it
Nov 7, 2019

In this Episode We’ll Cover: Why You Should Become A Pricing Expert!

a. Stop Guessing And Lying!
b. Learn The Basics Of Math!
c. Slow Down & Study Property Differences!
d. Stop Getting Stuck In A Game Of Pricing It Right Bingo!

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iTunes: https://apple.co/2CkWYB8
Spotify: https://spoti.fi/2pVPPQj

Episode link
Web: https://therealtyclassroom.com/podcast

Oct 31, 2019

In this episode, I got to be interviewed by somebody else, in the heat of my coaching moment. So, once a year, we hold TRC Live, as an event. In fact, we had it postponed for several years, and this was the first one, recently, that we did.

So, Dean gets to interview in the thick of this moment. You'll see, I'm pretty intense, I'm fired up. I'm very focused on how I feel about these things. I think that'll give you an interesting perspective that's a little bit different from the standard podcasts that I do here.

Without further ado, here's my interview that I did for Dean Miller, on his podcast Opportunity Knocks. Enjoy!

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iTunes: https://apple.co/2CkWYB8
Spotify: https://spoti.fi/2pVPPQj

Episode link
Web: https://therealtyclassroom.com/podcast

Oct 24, 2019

One of the challenges of being in the business of being a real estate agent is the dark element of resistance, of just doing enough and then wondering why your business is at a substance level.  In this episode, we discuss some of the darker elements that thwart you and how to overcome that White Elephant in the Room, the resistance and push back that hold you back.

 

Show notes:

  • The resistance and the challenges of real estate that are external resistors that trigger emotions that bring internal resistance.
  • David Goggin's attitude towards motivation and how he lost 300 pounds, and inspirationally dissatisfied and becomes a Navy Seal, by becoming an ultra-marathon runner and elite athlete.
  • The Lion as the king of the jungle and the animal survival instinct and doing enough to survive.   Are you doing "just enough"?
  • Stay within striking zone and how it works in your business
  • The sinister resistance that is set to just survive  and the energy it takes to get beyond survival.   "The Dark Chamber"
  • Doing the basic things that are practical- Pareto Principle:  Tell-a marketing hours and open houses and how to motivate to keep moving.
Oct 2, 2019

In this Episode We’ll Cover: You Must Eat The Frog!

a. Self-Leadership Starts With Doing The Right Things!
b. Self-Management Demands Doing Things Right!
c. Without Execution It’s All Just A Dream About Someday!
d. Eat The Dang Frog First!

Subscribe to the podcast! 

iTunes: https://apple.co/2CkWYB8
Spotify: https://spoti.fi/2pVPPQj

Episode link
Web: https://therealtyclassroom.com/podcast

 

Aug 22, 2019

In this Episode We’ll Cover: Why You Should Sweat the Details

a. The Small Stuff Makes Up The Big Stuff
b. Chunk Up The Big Rocks First
c. Let The Pathway Pave Itself
d. Memorialize The Steps & Constantly Beat On Them

Subscribe to the podcast! 

iTunes: https://apple.co/2CkWYB8
Spotify: https://spoti.fi/2pVPPQj

Episode link
Web: https://therealtyclassroom.com/podcast

 

THE SMALL STUFF MAKES UP THE BIG STUFF

I believe that a lot of small businesses, including real estate businesses, fail because they do not sweat the details. The small stuff makes up the big stuff, which is why it's so important to pay attention to the details. If you've been to FreeAgentGift.com and seen my infographic, that is the process by which I make Michael Gerber's concept of Entrepreneur-Manager-Sales/Technician simpler through a process I call "chunking it up." Know from the outset that there is a ton of "small stuff" in this business -- and we'll get there.

CHUNK UP THE BIG ROCKS FIRST

We'll get to the detail, such as "How do I hold an open house?" But first, we have to chunk up the big stuff. Put on your Manager hat and stay with me. Imagine being up in an elevated glass room and looking down to where you can see your business in sections. Looking down at the business this way (as The Manager), you can begin to plan on how to manufacture relationships that lead to these sales. Marketing is a really big "rock," for example. Withing that big rock, there are smaller "rocks" such as defining the market, clarifying your marketing message to make it concise and deciding on the medium to deliver the message. You're already getting into details when you chunk the big Marketing Rock up. Next rock: Conversion. Within your conversion rock, you have leads that you want to turn into prospects and clients -- those are the smaller rocks. Then you have the Closing rock and the Past Clients rock. Sweat the details to break those big rocks into smaller rocks.

LET THE PATHWAY PAVE ITSELF

Within those bigger chunks, we see the pathway start to reveal itself. Relying on what you've done with the big chunks will make it simpler to figure out the best way to address the smaller rocks. For example, when you listen to leads and let them tell you what they want -- guidance -- give them guidance. People raved about this when we started doing what they wanted. We allowed that pathway to sort of pave itself and the results were profound.

MEMORIALIZE THE STEPS & CONSTANTLY BEAT ON THEM

When you've done the detail work and the pathways paves itself, CAPTURE IT. Memorialize it. When the consumer tells us what they want, we should squeeze that and own it, instead of telling ourselves nonsense about what we think they want. Move them onto that path and refine it, so we can serve them even better. Give them what they really want. Beat on those details until you really know what the consumer REALLY wants and continue to give it to them!

 

May 8, 2019

In this episode, we'll cover: Let The Consumer Teach You!
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➡ The Old Saying: Give Them What They Want
➡ What If They Don’t Know What They Want
➡ What If It’s Not What You Offer
➡ They All NEED Your Insight
➡ Adjust Your Offer To Give A Heavy Dose Of What They Want & Demonstrate Your Guidance

Subscribe to the podcast
-
➡ iTunes: https://apple.co/2CkWYB8
➡ Spotify: https://spoti.fi/2pVPPQj
-
Episode link
➡ Web: http://bit.ly/trc-podcast

 

Apr 27, 2019

In this Episode, We’ll Cover: The Clearest Message Wins!

-

➡ People Don’t Buy The Best Product Or Service!

➡ They Buy The Ones They Can Understand The Fastest!

➡ Avoid The Curse Of Knowledge!

➡ Speak To The Raw Basics Of Survival!

➡ Simplify Your Survival Plan For Buyers & Sellers!

-

Subscribe to the podcast! 🎙

-

➡ iTunes: https://apple.co/2CkWYB8

➡ Spotify: https://spoti.fi/2pVPPQj

-

Episode link

➡ Web: http://bit.ly/trc-podcast

 

PEOPLE DON'T BUY THE BEST PRODUCT OR SERVICE

I want to give Donald Miller full credit for this idea, which I've drawn from his "StoryBrand." People don't buy the best product or service. That may sound "bonkers," but we see it all the time in the real estate business! It makes sense in the consumer's "story," however. They're the hero. If you're the BEST real estate agent in the world, maybe you're not communicating your message as effectively as you could -- which is that you're the "helper" in the hero's story.

THEY BUY THE ONES THEY CAN UNDERSTAND THE FASTEST

The reason for this is because people will buy the product or service that they can understand the fastest. Are you burdening clients with your resume, when instead you should be telling them how you're going to solve their problem? Don't force them to burn a lot of "mental calories" to keep up with you. Chunk your message up into bullet points; keep it simple, formulaic and organized, so people can understand you quickly. This is a complex business and people don't understand the 'ins' and 'outs' the way that you do. Your job is to simplify it for them!

AVOID THE CURSE OF KNOWLEDGE

A lot of us fall into this trap. New realtors get really excited because they've passed their licensing and they have all this knowledge. It's a natural tendency to want to share that accomplishment. If the buyer is the hero of the story, is it necessary for you to drone on about everything you just learned in "Realtor Class?" NO! Think of it like you're communicating on Twitter. You're forced to limit yourself to 140 characters to get your message across. How can you trim your real estate message in a similar fashion before you walk into a listing or open house, in order to simplify it for the potential buyers?

SPEAK TO THE RAW BASICS OF SURVIVAL

Clients are trying to survive the real estate process, so speak to the raw basics of survival. Their brains will shut down if you avalanche them with your knowledge. They may patronize you and even like you, but you've still shut them down. The thing they'd really love to have is someone to guide them and help them to survive the process with a PLAN.

SIMPLIFY YOUR SURVIVAL PLAN FOR BUYERS & SELLERS

I have two Infographics that have the immutable laws of selling and buying. There's an organized way that people go through the process. It's a fifth-grade level message that can be delivered in 60 seconds from the hood of a car. If you can't do that, your business may be suffering from the curse of knowledge.

Apr 11, 2019

In this Episode, We’ll Cover: The Power Of Your Words!
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1. Your Positioning Helps Set The Stage
2. Your Introduction Gives The Necessary Context
3. Your Tone & Pace Might Not Be What You Think
4. When In Doubt Default To Help & Contribution
5. Let The Ogres Make You Better
-
Learn more here: http://bit.ly/TRC-066

Subscribe to the podcast: https://apple.co/2CkWYB8

=======================

YOUR POSITIONING HELPS SET THE STAGE

This episode builds on the topics we covered in Episode #65, on the differences between cold-calling and strategic telemarketing. Real estate is a service business. How are we ever going to explain the services that are available to people if we won't pick up the phone? Door knocking is exhausting and sometimes scary. Ask yourself: What is my position? Your positioning helps set the stage for all the things you'll say during a telemarketing call. Remember: You're not the hero of this story! The hero is the seller and the buyer. Your role is to be the guide who helps the "hero" on their journey of buying or selling a home. Take that "positioning" in your real estate business, where telemarketing is one of the easiest ways to have the most conversations about real estate with people. You're the guide!

YOUR INTRODUCTION GIVES THE NECESSARY CONTEXT

Be yourself. Be "you" as you introduce yourself to people as the guide, who can help them overcome the challenge of buying or selling a home. "I have some similar properties to yours that have sold recently and what they went for -- and I thought this info might help you." And then we withdraw. When you give them something without asking anything in return, you'll set yourself apart from the other 15 people that have been cold-calling them or banging on their door. Position yourself as a good person who just wants to help.

YOUR TONE & PACE MIGHT NOT BE WHAT YOU THINK!

Going off of a script can come across as not being genuine. You're not using YOUR words when you talk to people. Don't be so afraid to be yourself and learn to "hit the beats" in a conversation. Listen to this section to learn how to make a quick, effective intro to any telemarketing conversation -- and to make it YOUR intro. You can use this formulaic model in any context, without being a pest. Keep in mind that if you're nervous OR excited, you may be going too quickly. Slow down and be clear as you offer your guidance.

WHEN IN DOUBT, DEFAULT TO HELP & CONTRIBUTION

If the person on the other end of the line sounds hesitant, doubtful, busy or mad -- just acknowledge it. And then default to helping them, while expecting nothing back. Be helpful and back off. That's what a good guide does for the hero.

LET THE OGRES MAKE YOU BETTER

Sometimes when you make telemarketing calls, you'll encounter the "ogre." Don't get mad at them. Let them make you better. You can learn perseverance from dealing with ogres. "What are you so mad about?" Call them out, persevere and who knows? Maybe you'll be the pattern interruption that turns them around. If not, you've only lost a little bit of your time

#realestate #realestatepodcast #podcast #realestatebusiness #agent2021

Apr 4, 2019

In this Episode, We’ll Cover: Telemarketing Versus Cold Calling!
-
1. What’s The Difference Between Cold Calling & Telemarketing!
2. Why Telemarketing Should Be Your First Choice For Message Delivery!
3. How To Use Content Marketing – Online & Offline To Support Telemarketing!
4. It’s About Prospects First, Appointments Second!
5. Telemarketing NEVER Stops!
-
Learn more here: http://bit.ly/TRC-065


Subscribe to the podcast: https://apple.co/2CkWYB8

=======================

WHAT'S THE DIFFERENCE BETWEEN TELEMARKETING & COLD CALLING?

Telemarketing versus cold calling is always a lightning rod when you talk about real estate. What's the difference between the two? In my opinion (emphasis on OPINION), cold calling means you're picking up the phone and calling. Get into conversations, see if you can get somebody talking. Personally, I don't like it. The "cold" part without a plan bothers me. Telemarketing, in my opinion, is calling people under the framework of a very highly-structured, planned event.

When you're telemarketing, you're going to be marketing YOU and your expertise within a defined, planned geographic location. Doesn't that make more sense, as an expert, than calling someone "cold?" Calling with a plan and your market expertise is already much better than calling cold! Giving away information like this for free gets you into a useful conversation much quicker and easier than cold calling. You must contribute something to them first, and that's where telemarketing can be really powerful.

WHY TELEMARKETING SHOULD BE YOUR FIRST CHOICE FOR MESSAGE DELIVERY

Running to online platforms as your first choice is a big mistake. Try telemarketing. Trust me -- just try it! If you want to do more sales, you have to have phone conversations -- a lot of them. Having as many quality conversations as you can, every single week, should be your first priority. It's not going online and thinking you'll put your destiny in the hands of Facebook or Google AdWords. Telemarketing is a conversation that contributes to the people you're calling.

HOW TO USE CONTENT MARKETING -- ONLINE & OFFLINE -- TO SUPPORT TELEMARKETING

The real boss -- the consumer -- is starting to say, "Stop bothering me," because so many in real estate are taking (calling non-stop, etc.) and offering nothing of value in return. Lead generation no longer works the way it used to. Listen to this section for the real "meat and potatoes" -- tips on how to tie your online and offline marketing into your telemarketing plan.

IT'S ABOUT PROSPECTS FIRST, APPOINTMENTS SECOND

All of the cold callers are trying to book appointments -- it's all about the appointments for them. With telemarketing, it's about prospects FIRST, appointments second. If it's all about the appointments, you have the priorities backwards. The prospect relationship needs to come first.

TELEMARKETING NEVER STOPS!

You're always going to be calling and marketing a message via the phone. You're telemarketing a certain message to a lead. You're telemarketing an upgraded message to a prospect. When they're a client, the calls become very hyper-specific, going over and over the plan. This all happens by the phone and yes, it's supplemented by online and offline marketing. If there are no phone calls happening in your business... Get going with telemarketing immediately!


#realestate #realestatepodcast #podcast #realestatebusiness #agent2021

Mar 21, 2019

In this Episode We’ll Cover: Why Memorializing Your Best Ideas Will Save Your Business!

  1. When You Have An Idea It Tries To Run Away!
  2. First Write Your Ideas Down Immediately!
  3. Then Categorize Your Ideas Like A Manager!
  4. Memorialize Those Deal Inside Your Plan!
  5. Work On Tactically Implementing Those Ideas!

 

WHEN YOU HAVE AN IDEA AND IT TRIES TO RUN AWAY

I can't believe the number of top producers who can't articulate how much Gross Commission Income they want to net. Set a number! This gives you a North Star, so you can adjust on the way. Good ideas immediately try to run away. I use mind-mapping software and some other techniques to ensure that good ideas don't run away from me.

WRITE YOUR IDEAS DOWN IMMEDIATELY

Get into the habit of writing your ideas down. Type them out in your phone or jot them down on a notepad but write them down immediately. You can "formalize" or hash it out in more detail later, but be sure to initially write it down, so you don't lose it due to a short attention span or a hectic life. If you have to come back to an idea later and you didn't write it down... it's gone.

CATEGORIZE YOUR IDEAS LIKE A MANAGER

Here's the real how-to: Learn to categorize your ideas like a manager. The manager has to figure out where that idea fits in the best in a real estate business. Is this a marketing idea? Where does this help me improve the strategy for marketing (or whatever module the idea fits into)? Thinking about an idea as a manager allows you to pull the idea up out of all the noise. Properly shuffling an idea into a module as part of a managed strategy is how an idea will save your business. Not every idea will work out perfectly, but if just a few of them are dropped into the proper locations -- Wow!

MEMORIALIZE THOSE IDEAS INSIDE YOUR PLAN

To recap: You have a great idea. Open up your phone or take out a notepad and write it down. (Even if you use a digital form of note-taking, you should still go through the physical act of writing it down using a good old-fashioned pen and paper.) Categorize the idea by injecting it into the proper area in your plan -- Marketing, Prospecting, Closing and so on. This all relates back to memorializing your ideas. The Manager in you will scream at the Technician, "Write this down! This is a good idea!"

WORK ON TACTICALLY IMPLEMENTING THOSE IDEAS

Testing can begin after you have memorialized the idea in your plan. You can master the Best Practices in your plan if you Manage them. Work on the ideas tactically after you've written them down. This process will force you to slow down, so an idea won't run away with your business. The best feedback will be from the consumer who responds to an idea. That will tell you whether the idea is a winner.

Mar 14, 2019

In this Episode, We’ll Cover: Why I should have punched myself in the face!

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  1. The Danger Of Guessing & The Law Of Corroboration!
  2. The Written Goal Protects You From Your Whims!
  3. If You’re Stubborn (And Insecure) Like All Of Us!
  4. Never Stop Questioning Your Goal And Your Plan To Get There!
  5. The Bonus: You’re Learning & Adjusting!

-

Learn more here: : https://therealtyclassroom.com/podcast/punched-face

 

Subscribe to the podcast: https://apple.co/2CkWYB8

THE DANGER OF GUESSING & THE LAW OF CORROBORATION

There's a big danger in guessing and how that leads to the "Law of Corroboration." What do I mean? When you have a perception of how something works, that's a guess. If you're guessing, you can't go back to Episode #62 about written goals and be accurate. If you are guessing, you will only look for corroborating evidence that supports your guess. For example, once you've written down your goal for gross commission income (GCI), you will go do research to find evidence that it is possible. My goal is to get you to be very pragmatic at this moment in time, as you seek evidence to achieve your GCI goal. If you rely on guessing, your plan will also be subject to guesses.

THE WRITTEN GOAL PROTECTS YOU FROM YOUR WHIMS

Once you have your written goal, which I hope is geared a little bit toward a "luxury-sized" number, you will tend to be whimsical. We all are. That's when you start making BAD, whimsical decisions. "It's harder to get there than I thought, so I'll just go back here." No. That is simply you making a whimsical decision based on the challenges of growing a business. Writing the goal down helps you stick to the plan.

IF YOU'RE STUBBORN (AND INSECURE) LIKE ALL OF US!

You have to check yourself on a regular basis if you're stubborn (and insecure) like all the rest of us. Don't fall into the trap of, "I made this decision and I'm stickin' to it!" Believe me, I understand: It's painful to look at a mistake and realize that you've charted a course in the wrong way. If you're irredeemably stubborn, you might wake up in 15 or 20 years and wonder why nobody warned you that you're doing it wrong. Insecurity is another killer. Remember, instead of asking "Who am I?" you should be asking, "Why not me?"

NEVER STOP QUESTIONING YOUR GOAL AND YOUR PLAN TO GET THERE

There's no such thing as a straight path to your goal. You're going to have wins and losses, and you're going to get beaten up from time to time. The more that you question your goal and plan, and make this a game worth playing, the more likely it is that you'll be able to make those course corrections when they're necessary. Asking questions helps you refine your plan.

THE BONUS: YOU'RE LEARNING AND ADJUSTING

When you have the courage to take a beat and question your goal, you're learning and adjusting. I want you to look in the mirror and see someone special, who wasn't quite sure they could go to this new place where they're a high achiever with a successful real estate business -- but they did it!

 

Mar 7, 2019

In this Episode, We’ll Cover: Why You Must Have Written Financial Goals!
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1. Syncing The Right Brain & The Left Brain!
2. G.C.I. - The Biggest & Easiest Goal To Focus On!
3. Writing It Done Then Digitize It Inside Your Plan!
4. Result: Programming Your Subconscious To Choose The Correct Resources!
5. The Effectiveness Is Real – Just Ask Lee (TRC Episode 61)!

 

 

SYNCING THE RIGHT BRAIN & THE LEFT BRAIN

It is your brain that's running your business, correct? It's up to you and all the decisions that you make. It's a fact that the right side of your brain is creative and the left side is analytical. Let's talk about how to "rewire" your brain to set it in the direction of your goals. What goal?

G.C.I. -- THE BIGGEST & EASIEST GOAL TO FOCUS ON

This goal: Gross Commission Income (GCI). Start with a number -- just write down the number! This may sound a little strange, but when you write the number down, 1) Be practical, but 2) Don't be practical. Be practical about what's possible before you get creative and seek what's "beyond possible." They're both there for the taking. Write down the reasonable number that you want when you write this GCI goal down.

RESULT: PROGRAMMING YOUR SUBCONSCIOUS TO CHOOSE THE CORRECT RESOURCES

The answer to how you reach that reasonable GCI goal is in your head. Doesn't matter if it starts on the right side or the left side of the brain -- I want you to get that goal "out" of your head and write it down with a good ol' fashioned pencil and piece of paper. As you write it down, something is happening in your brain. There's a trigger of clarity that begins to happen. The next step is to digitize the goal that's on paper, into a simple mind-mapping software. Then, go back to the question from the previous podcast: "Why not me?" Getting it out of your head and into paper helps to program your subconscious to focus on the resources you really need to reach the goal.

THE EFFECTIVENESS IS REAL -- JUST ASK LEE! (TRC EPISODE 61)

When you do a dive into MLS looking at how many transactions there were and average sales over the past year in your geographic area, the math of your GCI goal will suddenly start to make sense within your plan. Don't get confused by any complicated goals. If you want to see how this works, go back and listen to Episode 61 for Lee's story. This works!

Feb 28, 2019

In this Episode, We’ll Cover: Is It Possible to Triple Your Average Sale?
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➡ Sharing Testimonials With Caution
➡ It Starts With The Manger’s Marketing Plan
➡ The First Step Is Awareness Of Where Money
➡ The Next Step Is The Mindset: Why Not Me
➡It’s Not A Single Medium Or Idea – It’s Patience For Process
-
Subscribe to the podcast! 🎙
-
➡ iTunes: https://apple.co/2CkWYB8
➡ Spotify: https://spoti.fi/2pVPPQj
-
Episode link
➡ Web: http://bit.ly/trc-podcast

========

SHARING TESTIMONIALS WITH CAUTION

I really hate hyperbole in this business. It seems like everybody lies about their gross commission or how many transactions they have. It's better to be real. This is why you never see me sharing crazy, over-the-top testimonials. When I do share testimonial successes, I do it with some caution. With that in mind, is it possible to triple your average sale?

IT STARTS WITH THE MANAGER'S MARKETING PLAN

One of my mastermind members did, in fact, triple his average sale price. The process starts with the manager's marketing plan. The manager's perspective is key. You have to plan out your marketing - where will you do it and who are you marketing to? Sit still and plan this!

THE FIRST STEP IS AWARENESS OF WHERE MONEY IS

The next step in the plan is to go into the MLS and look at the average sales price last year in your preferred marketing area. You're paying for MLS and it's loaded with useful statistics to figure these things out. Sales prices in my mastermind member's preferred area were more than double the sales prices in the area he was currently targeting. It took just a simple exercise to figure that out.

THE NEXT STEP IS MINDSET: WHY NOT ME?

A lot of realtors talk themselves out of marketing to the luxury market because they don't have experience with "those rich people." Here's the dirty little secret about rich people: They're people. Just people, like everyone else! There are difficult people to deal with in every segment of real estate -- because they're all people. Change your mindset to target a more luxurious market of customers. Ask yourself the question, "Why not me?" Why shouldn't you be that agent? What's holding you back?

IT'S NOT A SINGLE MEDIUM OR IDEA: IT'S PATIENCE FOR PROCESS!

My mastermind client tripled his sale price using the steps outlined in this podcast, so yes -- it is absolutely possible. It is not about a single postcard, medium or idea. It's the process -- and having the guts and patience to stick to that process.

Learn more at http://therealtyclassroom.com/trc061

Feb 21, 2019

WE DON'T KNOW WHAT WE DON'T KNOW

This is a lesson that I learned from the one-and-only Michael Gerber years ago: We don't know what we don't know. Here's an example from Gerber. An entrepreneur will decide one day that because he knows how to bake pies, he knows everything he needs to know about the pie business. That's just not true. What we often don't know as small business owners is, "How does the business really work?" This is why you have to seek out a plan and why I give away the framework of what to do when you're planning.

YOU NEED A MANAGER'S PERSPECTIVE

If you want to run this as a true business (real estate), you need to decide who you have to become to run the business. You can be a technician or an entrepreneur (we tend to run to those two roles), but you cannot abandon the requirement to be a MANAGER. Once you begin to know certain things, such as marketing, you have to look at those things from the manager's perspective. Thinking like the manager helps to prevent you from making reactionary, rushed decisions like the technician might.

THE MANAGER REFERS TO THE PLAN

Every time there is a decision or a desire to do something to move your business forward, the manager refers to the plan. You need an overall plan with all three personalities mixed: Technician, Entrepreneur and Manager. Listen to this section for my tips on how to break the process up into modules for your real estate business! This allows you to make a plan and stay on track as a Manager.

THE MANAGER MAKES ADJUSTMENTS BASED ON FEEDBACK

When you go through the managed process when it comes to marketing -- from crafting a message, deciding who to send it to, and how to send it to them and so on -- pay attention to results like a manager. Adjust the media and the message, based on whether it resonates with the audience. The Manager will follow a plan, test it and adjust.

Feb 15, 2019

YOU MUST HAVE A PLAN!

How about if you stop and go get a plan (if you don't have one)? I understand that's not easy, so that's why I provide a framework that covers universal basics, no matter what type of real estate business you're trying to build. I wish that someone would have knocked me over the head with this when I was first starting: YOU MUST HAVE A PLAN! If you don't have a plan, go get one and stick to it. That's how you succeed in real estate.

THE ONE-TWO PUNCH: MARKETING & CONVERSION

A lot of people in real estate make the same mistake. We start out as an independent contractor an entrepreneur and we jump right into the technical work, but never take a beat to think, "I wonder how this highly technical real estate business actually works?" Henry Ford, for example, figured out how the assembly line process worked in other fields and applied the lessons to make cars more efficiently than anyone else. The real estate "assembly line" is in flux because of the digital age right now, but some things have not changed. Marketing and conversion are still the one-two punch of managing a real estate business! Listen for advice on how to PLAN and manage the marketing and conversion processes

Feb 8, 2019

WHAT BROKERAGE WILL YOU "JUMP" TO NEXT?

Before you make a quick and emotional macro decision like jumping to a new brokerage, stop and ask what it is that you don't have that's preventing you from growing. Is that brokerage that's luring you in with "sizzle on the steak" really going to help your business grow? A new brokerage may offer so much sizzle and crackle that no one challenges themselves with important questions like, "How will this help my independent business grow?" Impetuous business decisions are based on emotion, whether we want to admit it to ourselves or not. Get a contrarian opinion.

WHAT TEAM WILL YOU "JUMP" ONTO NEXT?

I've heard this a lot lately. Jumping to a new team without thinking it through can lead to all sorts of bad situations: cannibalism of business, split revenues, an inability to keep up with top producers which leads to grumbling and so on. Take the time to make a rational decision: Write down the pros and cons of being independent versus joining a team or brokerage, both of which may or may not really offer the help you need. Again: Get a contrarian opinion.

WHAT WEBSITE WILL BE YOUR SAVIOR?

I've seen a lot of top producers fall into this trap. Some new website platform may offer a ton of lead generation, but is there a real conversion process? What happens a lot of times is a ton of brokers jump to a new web platform and therefore, curious consumers follow -- but they're not real leads and there's no conversion process. I offer a ton of helpful advice for your website in this section of the podcast -- trust me, you need to listen to this!

THE REAL QUESTION: WHAT STRATEGY ARE YOU FOLLOWING?

Before you make any of these decisions (brokerage, team website), did you ever really ask yourself, "What strategy am I following?" You may join a new brokerage, followed by a new team, which is followed by a new website -- but is there any money left at the end of that? For anybody? That's a pretty good strategic question! The bottom line is that you shouldn't be in a hurry to make so many impetuous decisions.

THE PROCESS FOR IMPROVEMENT: WHAT SMALL ADJUSTMENTS ARE YOU MAKING?

It's now ten times harder to grow an independent business than ever before. The small business failure rate is way higher than the experts state. That's because most people don't have the discipline to sit still, think, and make small strategic adjustments.

Jan 31, 2019

HOW'S THE MARKET?

The most important question that you'll have to answer is: "How's the market?" It is the most common knee-jerk question that people will ask when they first learn you're a realtor. Since that's the most common reaction, you must have an answer ready.

STICK TO THE SIMPLE AND INTERESTING STATISTICS

How do you do that? Stick to the simple and interesting statistics. You don't need to go too far or make up random opinions in your answer. You're a professional in a market where most people are making the largest financial transaction of their lifetime. You should know some specifics about the geographical market where you're trying to help people buy or sell. Don't go off on some long dissertation in these early conversations. Keep it simple and interesting! People want to know current price-per-square-foot, average sales price and other simple statistics. Don't do a deep dive -- stick to the cocktail party talk stuff!

PRODUCE AN INFOGRAPHIC DEPICTING THE FACTS

My recommendation is that you pull some of these statistics on a monthly basis, so you always have this information. Take that info and produce a simple infographic. Make it pictorial and easy to digest. You don't want something will force people to do any heavy lifting just to read it.

ADD YOUR INSIGHTS

When you have that infographic in a handy print-out form, you're ready to discuss it and ADD YOUR INSIGHTS. I've said it many times: The most important thing to market is YOU. Nobody else can do "you." Even if you're a rookie and you don't really have an opinion on it yet, you can deliver the facts from your infographic with your insightful voice. State some facts, add in an anecdote and voila! You look and sound like a seasoned pro with just a little bit of information.

MAKE YOUR OFFER IF THEIR TIMING IS RIGHT!

Understand that this is a core piece of "global" content that can be used everywhere. The answer to, "How's the market?" is relevant no matter what context you're in as a realtor. If you have that core piece of content, it's a springboard to then offer to sign someone up for your newsletter, look at properties in MLS or whatever tactic you're using to reel them in.

Jan 23, 2019

WHERE IS YOUR MARKET?

If you're going to figure out the ideal message for the ideal client, that's great -- but where IS your market? It often surprises me how undefined agents' markets are when they come to me for marketing advice. You are making marketing decisions nebulously if you don't know where your market is. My market today is in some very small, dense areas with plenty of real estate transactions happening. But when I started out, my market was all over the map! Defining your market gives you a sense of geography for your business.

TO WHOM AM I SPEAKING?

Who is your ideal client? You may have the type of personality where you're willing to work with anyone, but this is about marketing. You must know your ideal client so that you can market to them. Speak to that ideal person in your marketing, so that the whole crowd is getting the ideal of your message. I know it sounds simple, but have you ever really sat down and thought it out? It's important to know the "who" so that you have a message that matches them.

WHAT DO THEY WANT?

How do you craft the message that matches your ideal client? Ask that simple question: What do they want? Forget about your own resume, credentials and dazzling abilities. What do THEY want? See them as the hero and position yourself, in your mind, as the guide. This is so much easier to use as a starting point.

GIVE THEM WHAT THEY WANT!

The internet has forced all of us to give. For many years when the MLS was proprietary, people had to come to you as the gatekeeper of the information they wanted. Hint, hint: That's what they want! Even if this makes you cringe, you must give something that they want away in order to magnetically

Jan 14, 2019

PROSPECTS PURSUED RUN AWAY

Think about this from the perspective of you as the consumer and not the real estate agent. If you are a prospect who is just browsing in any sales context, and you're being bombarded by a salesman, there's a good chance you'll leave that store without making a purchase. If your whole marketing plan starts with aggressive pursuit, you'll chase them away more often than not. When most people start to dip their toe in the water on real estate, they have a ton of information to consume about a large and emotional transaction; they don't want you to pursue them at this point. Whenever you can avoid aggressively pursuing them -- don't do it!

BALANCE MAGNETIC MARKETING WITH HELPFUL PURSUIT

Helpful pursuit and magnetic marketing work hand in hand. It's a creative challenge. Can you market something at the right time and to the right person that magnetically attracts them (as opposed to repelling them)? This is where helpful pursuit comes into play. As an example, if a person sees your video on social media and signs up through an opt-in page, they've taken that step and said they want to know more. NOW the helpful pursuit is what helps move them from the prospect column to the lead or even client column.

MESSAGE-TO-MARKET MATCH

Your marketing needs to match THE MARKET that you're trying to reach. Are you talking about yourself a lot in your marketing efforts? (Please say "No.") Instead, you should be sharing cocktail party-level knowledge about what the market is doing, because that's what people need up front. What's selling? Why is it selling? What are the real trends for comparable properties? You can deliver a very particular message about your very strategic help to a particular listing. That's what they want and need - not a dissertation on who you are. That's pursuing them in a helpful way.

CHOOSE YOUR MEDIA LAST IF POSSIBLE

Define your geographic area first: I'd like to find listings in this location. That allows you to next figure out how to get your message to those people and how to "tweak" it based on their context. Ultimately, you want to be giving them property information that will highlight your insight. Only then do you figure out the best way to get the information to them.

Dec 27, 2018

POSITION YOURSELF AS THE GUIDE, NOT THE HERO

How about a check-up plan to start off the New Year? If I could start my entire real estate career over again from scratch, I would position myself as 'The Guide' and not 'The Hero,' so I'm asking you to do the same. I firmly believe this is the best way to do business -- to look at everybody else as 'The Hero.' This orientation changes everything in your business. If you become a transactional agent, it's easy to fall into the mindset that you are the most important part of the story. That's not true! If you want to master the service industry, it needs to be about the person you're serving!

PRODUCE SIMPLE GUIDES FOR SELLERS & BUYERS

If you're going to guide someone, you need a plan to do it. Don't try to do your guidance on muscle. Your brain only has the capacity to handle just so much, so without the support of a system for you, it can become especially frustrating when things don't go your way. "Cornerstones" are the solution. We're in real estate, so you have to have a solid foundational plan. Produce simple guides for sellers and buyers, and make that your new business card.

HAVE CONVERSATIONS ABOUT REAL ESTATE

Have conversations with people about real estate and be ready with an answer for that universal question, "How's the market?" Learn to use MLS to figure out how the market is doing in a neighborhood where you want to do business (start small). What's selling and for how much? That's the answer to how that local market is doing.

HAVE YOUR SERVICE UPGRADE OFFER READY

Once you test the water temperature and determine that someone is motivated to buy or sell, be ready to upgrade them. Offer them access to the MLS portal, so they can see exactly what you were just explaining to them about the market. Make the offer. If they're motivated to buy or sell in the next 12 months, they'll take you up on it.

INVEST IN THE RELATIONSHIPS WITH WORLD CLASS FOLLOW UP

Once they move from your "lead" column to your "prospect" column, offer world-class follow-up. Give on the right time frame. Show them that you care with meaningful follow-up and they will reward you for it. Listen to them, adjust and help them in that relationship.

Dec 17, 2018

THE HOLIDAYS ARE BASED ON THANKFULNESS AND GIVING

When we start with the Thanksgiving holiday in November and the rest which are all based on GIVING, we see these tremendous principles that bring out the best in us: Thankfulness and giving. I've been talking about the business concept of how you should give while expecting nothing in return and at no time of year is that easier than during the holidays.

BEING THANKFUL FOR THE OPPORTUNITY TO HELP

Isn't it awesome that you can still give even when it may feel like you don't have much to give? You have the ability to give of your time, love or insight. Everybody's worried about money, but you have other gifts that you can give to others. Help somebody and be thankful for that opportunity. Shovel their snow.

GIVING YOUR HELP & EXPECTING NO BUSINESS IN RETURN

You have to become a true giver to understand the foundational aspects of gratitude. You have to really learn to give while expecting NOTHING in return. You'll go emotionally bankrupt if you expect something in return all the time. Try giving anonymously and just watch the reaction of someone else as they receive your gift -- and expect nothing in return. Their reaction is enough to show you how powerful this concept is. If you see a young couple in a restaurant that looks like they might be struggling, pick up their tab -- and make sure the waitress doesn't tell them it was you. The holidays are a great time to practice giving, because we are already in that mindset.

CARRYING HOLIDAY VALUES THROUGHOUT THE YEAR

Chasing a trophy can be fulfilling to a certain point (speaking from experience), but then you'll realize at the end that it just wasn't very fulfilling. You're not helping others when you're chasing a trophy for yourself. What imprint did your business leave in the world when you're doing something for yourself? Not much! When others are grateful for the HELP that you've given them in the process, and thankful, that's leaving an imprint. And that's good business.

Nov 30, 2018

WHY WE DON'T LIKE COMPLAINERS

Why don't we like complainers to begin with? Because they're complaining about us! "You said it would happen this way, and it didn't!" It's a really simple reason: What they're complaining about is us -- and that hurts. Our natural instinct then is to attack them or complain right back at them. It's no wonder relationships then blow up between agents, buyers and sellers. Complaining is like an attack and everyone tends to get defensive.

COMPLAINERS ARE ACTUALLY CHALLENGING YOUR VALUE

I've been taking a different approach to this for the past couple of years. If someone is complaining, aren't they really just challenging my value? Isn't that fair for people to do? I may assume that I explained something well during the marketing process, but then all of a sudden, something is not going well. If someone ends up complaining, stop and ask whether you are the problem. Are you actually explaining the difficulties of the real estate business coherently? No matter how good your plan to move a property is, it's still all theoretical. Maybe you're not explaining it well enough!

YOUR VALUE IS THE BENEFIT YOU BRING TO COMPLAINERS

Complainers can actually be valuable to your business. They are checking it and they're the ones who are bold enough to speak up if you're not performing at a high level of excellence. You have to keep refining your value based on legitimate complaints. When I really listen to a complainer and take action on their complaints, they really appreciate it! They feel like they're part of a two-way conversation now. If you listen, assess and then adjust based on their complaint, they are sharpening your value for them and subsequently for all your other clients.

THE ADJUSTMENTS TO VALUE SHOULD BE SIMPLE & PRACTICAL

Unless you're a rookie or making wild mistakes for some reason, the adjustments you need to make based on complaints should really be simple and practical. Here are some of the fabulous complaints I've heard over the years about open houses, marketing and other topics -- and why they made my business better in the long run! Making a simple adjustment can help you avoid ever hearing that same complaint again.

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