Life: it’s the most important journey you can embark upon. Have you mapped out where you want to go during your life’s journey? People spend more time planning their holidays than they spend planning their lives, which explains why so many people drift through their lives, accomplishing very little, complaining how tough life is. Isn’t your life infinitely more important than any holiday you might take? Devote the most earnest effort toward planning your life’s journey and set for yourself worthwhile goals. As we approach the final quarter of 2012, this is a great opportunity to plan the remainder of your year, to finish the year with a flurry of results, and to set yourself up for a great 2013. Set SMART goals. Set them today. Instead of living with a series of things you might ‘wanna’ accomplish, take time to think about what you truly want from your life. Continue reading The Most Important Journey
What most real estate agents refer to as Marketing is really nothing more than Advertising. Advertising is just one small component of the large umbrella that is Marketing.
Agents place ads on websites, in newspapers, they erect signs, they place leaflets in letterboxes, but all of these are advertising. What other MARKETING do they do? Not much really.
I see agents place ads in newspapers, sit in open houses, and watch as ‘buyers’ wander through the ‘open’. At the end of the open, they close that property, travel to the next one, open that and… guess what?… many of the same people attend the next open house.
Do you see what is happening here? The agency paid for two advertisements – one for each property opened for inspection – and many of the same people attended both opens. Continue reading Money In The Bank
A few years ago, my wife bought four-flat pack wardrobes, which needed assembly. These times are not exact, but roughly it took me forty-five minutes to assemble the first wardrobe. The second took around thirty-five minutes, the third around twenty-five, and I finished the fourth in under twenty. The more I repeated the same task, the quicker I got. This is the advantage in grouping your tasks. The more you do of the one type of task, the more efficient you become.
We recommend to leaders that, when they conduct first interviews with prospective salespeople, they conduct at least fifteen on the one day. We caution them against having two interviews on one day, one on another, spreading their interviews over several days.
Leaders that conduct all their interviews on the one day report that by around the third interview they are ‘warmed up’ and much more capable of spotting that potential winner. By grouping this task, they get better at it as the day progresses. Continue reading Group Your Tasks
Over the years many leaders have said, “My team loves me. They would die for me.” This was said when the office’s month-to-date results were pathetic. Your team does not have to die for you, but is it too much for you to expect it to sell for you?
Expenses are incurred by a business daily. You cannot ring your landlord and say, “My business is closed for twelve hours each day. Therefore I will pay only half the rent.” While this concept is laughable, there are many offices that, in spite of the fact they accrue Expenses on a daily basis, fail to accrue Results daily.
Commit to one listing result per day. Any office can achieve this. Once this result standard has become a habit, the next stage is to make a sale each day. If you have the stock, this too is possible.
How to become a ‘stand out’ with Potential and Existing Sellers.
Two questions that I always include in our sales program, Winning Ways – Real Estate Sales are “Who wants to sell?” This leads to the second question, “Which property can I list today?” These questions remind us how important it is to prospect with a clear purpose, to focus on the result we are after, and not the activity itself.
If you find yourself getting plenty of future sellers but nobody who is selling now, you would do well to remember those two questions.
Before going too far, let’s recap the first question again because it is important. It says, “Who wants to sell?” It does NOT say, “Who tells me they want to sell?” Try this quick quiz:
- To find somebody who says, “Yes, I want to sell now“, or
- To find somebody who SHOULD sell, regardless of whether the client agrees with this or not?
I recently attended in Sydney a leadership seminar presented by Professor John Adair. He was the first person ever to be awarded a chair in Leadership Studies by any university anywhere in the world. I thought he’d be worth listening to. He was. But only thirty-nine other people agreed. There was hardly anyone in the audience.
Late last year I attended in Brisbane a seminar presented by John Maxwell, in my opinion one of the best speakers and writers on the subject of leadership. I thought that he, too, would be worth listening to. I was right. Again, however, the audience numbers were low – under one hundred. There should have been thousands of leaders and would-be leaders at this seminar.
My experience, and from the experience of other training companies, indicates that Sydney appears to have the lowest regard for training, followed closely by Brisbane, but the numbers at both seminars in Melbourne wasn’t much better.
Over the past seven years I have volunteered my time on an industry advisory body. I hear about industry attitudes toward training from several training organisations and institutions. All lament that training appears to be held in low regard.
When you write a cheque, you would do well to remember that money is about to leave your bank account. Before signing it, ask yourself, “What is this expense for?” If the cheque you are writing isn’t directly contributing to profit, chances are that you should seriously consider never agreeing to this type of expense ever again.
Things like rent, telephone, postage, insurance, stationery and electricity are must-have items and little scrutinisation of these costs is necessary. Other expenses such as sign erection, window cleaning, advertising, leases, entertainment, gadgets; etc, should be viewed with suspicion and traced back to see if they truly lead to income and profit.
Most agency owners would love to have that extra sale a month, one that they could ‘;squirrel away’ into a profit account, which is just for themselves. If you examine your expenses closely you might just get the equivalent income from the slashing of unnecessary expenses. Continue reading The Cost of a Cheque
Habits are a foundation of success.
As you progress through your sales career, your results will improve as you replace bad habits with good habits.
I’m a great believer that being a salesperson who operates at the mediocre level is much harder work than working towards Greatness. I also believe it’s a lot more stressful.
Think about it:
What habits would you foster if you were the greatest salesperson in the world?
- Would you set GOALS to help you focus?
Winners don’t ‘wing it’. They set goals, carefully calculating what TARGETS they need to achieve if they are to reach those goals.
Continue reading Controlling the Results Cycle
How much focus do you give your Break Even Point (BEP)? How many sales does your office need to break even each month? This is a figure you MUST know. Once you know your BEP you can focus on:
- Reducing it – get your BEP as low as possible;
- Reaching it – by the 7th of each month. Break even early.
Some leaders say, “I can’t manage to break even by the 20th, let alone the 7th“, and they are right. This mission is doomed before it starts. It begins the moment they utter those fatal words, “I can’t…”
Many years ago we used to say that office’s should break even by the 20th of the month. We changed it to the 7th. At the time there were very few offices regularly breaking even by the 7th. Those leaders who succeeded at regularly breaking even by the new day did so because they had a leader’s mindset: they focused on breaking even sooner rather than later.
There is an old marketing saying that says:
“Don’t tell people how good you are. Get happy clients to tell people how good you are”.
References from happy clients improve the success rate of your advertising.
No doubt you know this. So how many references (testimonials) did YOU get last month? Would I be right in saying that you obtained very few?
Salespeople forget to ask for references. I don’t know whether it’s lack of foresight or just plain forgetfulness, but no matter the reason, failure to ask for a reference costs you, and your agency, serious money.
How to Handle Complaints
The fault, dear Brutus, is not in our stars,
But in ourselves, that we are underlings.”
Our When you examine the activities that salespeople routinely work on, you have to wonder whether they understand
exactly what a real result is. best leaders NEVER allow their offices to close unless the agency has at least one real result for the day. These leaders understand that they incur expenses every day, therefore they must achieve one real result a day.
As leaders, we must help our people recognise what constitutes a result, what actions are necessary to achieve those results, and then follow up to make sure they are doing those actions. All activities in a salesperson’s day should lead directly a real result.
Continue reading What is a Real Result?
One reason real estate agencies don’t do as well as they should is that they are run by salespeople. It’s what is called the dilemma of salespeople at the top.
When an office’s leader is a person who loves making sales, you often find such people too busy doing what they love to spend time tracking where the income goes. This is a recipe for disaster. There is no point, no point at all, in making lots of sales unless you keep a good proportion of the sales income. It’s like setting sail in a leaky ship – sooner or later you’re going to sink.
Willpower and stubbornness are close relations. One attribute you want. The other you don’t.
Stubborn people steadfastly hold onto ideas and, right or wrong, will not be persuaded to see any other point of view. You could argue that this is misdirected willpower.
When it comes to forming new habits, willpower is what you need. With willpower you can say ‘yes’ or ‘no’ to yourself and mean it.
If you feel that you lack willpower, take heart. Willpower can be exercised. Start small. Make a short-term commitment and stick to it. Then increase the time and difficulty of the commitments. Your willpower will strengthen.
So often you hear people complain, “I make the calls, but I’m not getting any results!” If you find yourself in this position, perhaps you should do something about it. Prospecting, like all tasks a salesperson performs, must show a healthy return.
There is no delicate way to say this: if you cannot find sellers, and lots of them, then you probably won’t master the skill required to list them. You might as well face the fact that real estate is not for you and save yourself months of misery. Failing that, you have no choice but to get good at finding new sellers for your agency. Becoming good at this takes dedication, determination and courage.
In his book, Think and Grow Rich, Napoleon Hill names Eleven Major Attributes of Leadership. Whether you run an agency and have a team to lead, or you are a salesperson with clients to lead, you are a leader. And let’s not forget that we always have to lead ourselves.
As with all ideals, you might find yourself lacking in some of these leadership attributes but, as we often say, Leadership can be learned – daily, not in a day.
Continue reading Eleven Attributes of Leadership
“I can get no remedy against this consumption of the purse: borrowing only lingers and lingers it out, but the disease is incurable.” Shakespeare.
Borrowing money is for fools – incompetent suckers. In business, and at home, there is rarely a need to borrow. People borrow because they don’t have sufficient funds. They don’t have sufficient funds because they don’t save. If they can’t save, how can they repay a loan?
Loan payments sink businesses. They destroy families.
To borrow money is to incur debt. But it’s worse than that – to borrow is to incur an obligation far greater than the debt. It’s an obligation many people regret. It’s an obligation we can live without.
Have you ever put off doing a chore that you thought would be difficult? You dreaded doing it but eventually you got stuck into it, and what happened? It was much easier than you thought. You couldn’t imagine why you thought it would be so hard.
Prospecting is like that. It’s just not that difficult. All you have to do is start, keep going, and it will become a habit. A winning habit.
There are only 3 reasons why salespeople don’t prospect:
- They are scared;
- They are stupid;
- They are rich.