Preparing For The 2012 Real Estate Marathon

Preparing for the 2012 Real Estate Marathon

Comparing your Real Estate Business to preparing for a marathon is not too far of a stretch… Most say Real estate is a “rat-race” anyway!

Think about the comparison for a minute: If you wanted to run a marathon New Year’s Day 2013 what would you do today? ....Start Running would be a wise decision, coupled with planning everything from your training sessions to your diet to strategies for running the race…and I bet you would even write all that stuff down on a pad somewhere …

If you look at the way some of us plan for our business, most REALTORs would get up the day before the race, do a little stretching, run around the block a few times, and then declare “Bring It”!

So using a marathon runner’s mindset… if you wanted/needed to make $100,000 in income by New Year’s Day 2013 you would need to set some goals…plan some activities and events  and set some strategies in place to meet your goals...right? Unfortunately I see most associates who want/need to make more income only start to pay attention to the details around October-November time frames…once the year is almost ended.

This is when they go into what I like to refer to as the “O-CRAP” mode.

The “O-CRAP” mode would be like waking up the day before the marathon without any training saying to yourself “I can do this”!...only to find yourself the next day winded and heaving after only a few miles down the course of the race….saying “O-CRAP”!

Does the old saying “NO Pain-No Gain” sound familiar? Just like you wouldn’t consider running a marathon without the proper training and planning…you can’t wait until November and say “O-CRAP”! I didn’t make enough money this year.

Here are some “training tips” to get in shape to meet your 2012 goals:

#1. Have a written business plan and refer to it monthly

#2. Set obtainable goals and for motivation place where you will see them everyday

#3. Set a minimum standard for prospecting

#4. Repeat Daily!

How To Give 100%

Have you ever heard someone say “I need you to give 110%”?

Technically it is mathematically impossible to give 110% but I would guess to give the illusion of giving 110% requires you to give a full 100% day after day, month after month, and year after year!

See the below chart:

If you assigned a numerical number in sequential order to every letter of the alphabet  it would look like this

A=1, B=2, C=3, D=4, E=5, F=6, G=7, H=8, I=9, J=10, K=11, L=12, M=13, N=14, O=15 P=16, Q=17, R=18, S=19, T=20, U=21, V=22, W=23, X=24, Y=25, Z=26

So using these numbers assigned to the alphabet let’s see what equals 100%

EDUCATION = 92

E=5+D=4+U=21+C=3+A=1+T=20+I=9+I=15+N=14 Totals:92

KNOWLEDGE= 96

K=11+N=14+O=15+W=23+L=12+E=5+D=4+G=7+E=5 Totals: 96

HARD WORK= 98

H=8+A=1+R=18+D=4+W=23+O=15+R=18+K=11 Totals: 98

ATTITUDE= 100

A=1+T=20+T=20+I=9+T=20+U=21+D=4+E=5 Totals: 100

What does this prove? … To the professional it says Education, Knowledge and Hard Work are not enough… You also have to possess the right Attitude to give 100% to your clients, your friends, and your family.

For 2012 give 100% by having the right Attitude for business. Place “having a Positive Attitude every day” in your written business plan. When you feel yourself going negative, stop and take a few deep breaths…think back to your goals and your plans for 2012. Be Positive and Be Productive!

Eddie Brown 2012

www.ICU-Coaching.com

The Making Of A Successful Listing Presentation

A Listing Presentation is your opportunity to showcase your skills as a Professional REALTOR. It is a time to show the Seller how through utilizing your skills and experience you can successfully guide them through the real estate process of selling their property. It is also a great time to build a new advocate for your business.

Whether your initial contact with the Seller occurs in person or via phone, make sure you leave a lasting first impression. During your first conversation ask the following questions:

·        How did you hear about me?

·        What is your reason for wanting to sell?

·        Have you ever sold a home before?

·        How soon do you have to move?

·        What is your biggest concern about selling your home?

The response you receive to these questions will help to reveal the Seller’s level of motivation and their level of experience with buying and selling properties. Selling a home is most often an emotional one, so the answers can also provide insight into the sellers’ anxieties and how you can help dispel their fears through the excellent service you provide.

Seller Facts:

66% of sellers list with the first agent they contact

19% interview only 2 agents

Only 15% speak with 3 or more agents prior to signing a listing agreement

35% of sellers choose their agent based on reputation

23% choose an agent based on the agents perceived trustworthiness

63% of 1st time sellers said they would prefer to be referred an agent by a trusted friend

The Listing Presentation:

The listing presentation should be broken into three phases highlighting the market conditions as well as your marketing plan and your commitment to providing excellent service. A well-executed listing presentation should include the following three steps…

1)    Give Perspective- Paint a “big picture” for the sellers while telling them honest opinions about the condition of their home and where to price the home to be competitive

2)    Educate- Provide facts about the current state of the market…even if it’s ugly they need to know the truth. A seller would rather you tell them the truth now than to find out later that you lied just to get the listing. Always complete a full written market analysis of the property showing closed as well as pending and active comparable properties.

3)    Provide a Comprehensive Marketing Plan- Go into detail showing the seller the steps you plan to take to sell their home. Include suggestions for property enhancements, your negotiation tactics for both the offer to purchase and for the inspection repair requests, and how you will manage the transaction from beginning to end.

And the most important step is once you have obtained the listing… follow-through with exactly what you said you would do…Under-Promise and Over-Deliver. It is important to check-in with the Seller weekly with updates on showings and market conditions.

The Spring Market will be here before you know it! Now is the time to start building your listing inventory… The seeds you plant today will grow into future earned commissions…and it really is true what they say…YOU HAVE TO LIST TO LAST!

www.ICU-Coaching.com

Eddie Brown