For Real Estate Sales Professionals

January 23, 2006 Ezine


January 23, 2006



































Read by more than 30,000 agents

Always be determined to become the
best real estate agent in your territory!

In this Issue:

1. The Three Warning Signs of Not Doing Enough Prospecting

2. Seminars I'll Be Leading in 2006

3. Achieving What You Really Want in Your Business

1. The Three Warning Signs of Not Doing Enough Prospecting

Almost any agent in real estate can improve their results by doing more prospecting. When an agent is brand new in the business, oftentimes prospecting takes up a large part of their time because they really have no active transactions they're working on. But sometime thereafter agents can get out of the habit of prospecting regularly once they feel busy and working on activity. The problem here is that feeling busy doesn't necessarily translate into making more money, oftentimes leaving agents feeling frustrated at why their results aren't improving.

Sometimes when leading seminars in front of audiences I ask everyone how much their income would increase over the next 12 months if they made sure to prospect 10-12 hours during every week that they're working. When answering this question, the majority of people in the room feel that their income would at least double, some even feel it would triple, and most everyone in the room feels that their income would increase by at least 30%.

And sometimes when working with my coaching clients I ask them to track the number of hours they're prospecting every week. I do this because oftentimes agents have lulled themselves into believing they're prospecting more hours than they really are in their business. And once these clients recognize that the number of hours per week they're actually prospecting is abysmal, they recognize that it's definitely time to get themselves moving.

So in case you're wondering if you're prospecting enough in your business right now, I've identified what I consider to be the three warning signs to watch out for that may indicate that your level of prospecting needs to be improved.

Warning Sign #1

After Years in the Business, You're Still Doing a Lot of Cold Calling, Not Warm Calling

If you find after years of being in the business that when you prospect people, they still don't know who you are, you're not prospecting these people enough to build the kinds of relationships that will easily lead to more business for you. Agents who prospect a lot get to a point where many of their calls are "warm calls," meaning that they're calling and talking to people they've already talked with before. So if you're not experiencing a lot of warm calls after having been in the business for a number of years, it may be because you're not doing a lot of prospecting.

Warning Sign #2

You're Finding People and Companies Who Have Requirements, But After It's Too Late to Begin Working with Them

This is one of the biggest nightmares a real estate agent can experience. You've identified someone who's ready to take action, but they're already committed to working with someone else...your competitor. So why weren't you in contact with these people months ago when they were just beginning to realize they needed to talk to a real estate agent? It may be because you haven't been doing much prospecting on an ongoing basis throughout the year.

Warning Sign #3

You Hear About Transactions Closing in Your Area That You Never Even Knew Were Happening

If you find out through others or through the media that someone has bought, sold, or leased a property that's in the territory you work in, and you didn't even know that the property was available, or that the people or company were looking for a property, this too is a sign that you may not be doing enough prospecting.

So how did you measure up? Did you find that any of these three warning signs applied to you?

Prospecting is one of the most difficult activities for many of us to continually do in real estate. Who normally wants to put themselves out there in a situation where maybe nine times out of ten you'll be rejected or end up talking with people who just aren't interested in doing anything?

The point is, though, that the one call out of ten where the people may be interested in doing something is the one that will make you huge amounts of money throughout the year, as long as you're making these calls every single week (or canvassing in person if you prefer).

So evaluate where you're at in your level of prospecting right now. And if you feel your income could definitely be improved by prospecting 10-12 hours or more every single week, do what you must to make sure you get this prospecting done.

Click here for downloadable E-books and live audio interviews with top-producing real estate agents. These interviews are with industry experts who show you exactly what they do to continually make hundreds of thousands to millions of dollars a year.

2. Seminars I'll Be Leading in 2006

If you or your commercial real estate company or organization may be interested in training for your agents in 2006, click on the following link for a list of the seminars I'll be leading throughout the year:

I've led seminars sponsored by SIOR, CCIM, AIR, Realcomm, Realtors® Commercial Alliance, and some of the top commercial real estate companies in the country. If you want your agents to perform their best, the probability is high that one of these seminars covers the exact topic you may be interested in.

My minimum rate for leading a seminar is $4,500.00 plus travel expenses. If you may be interested, or if you'd like more information, please click here and E-mail me.

Also, if you know of someone else who may be interested in agent training, please forward this E-mail onto them.

Click here if you'd like more information on my one-on-one coaching program to take your real estate productivity to the next level. One-on-one coaching is available for both real estate agents and company management.

3. Achieving What You Really Want in Your Business

I still remember something I heard in a seminar I attended in June of 1985 that remains quite profound to me to this day. The leader of the seminar said to the audience, "You either have what you want in life, or you have the reasons why you don't."

That was such a simple statement for me to hear, but it instantly resonated deep within me. And I knew it would have far reaching implications to me for the rest of my life, too, as it told me that my success, or lack of success, would be a direct result of my own choices.

With this in mind, when you see the names on the list of top producers in your office year-after-year, do you notice how many of the same names seem to be on that list quite regularly? There's really no accident why this is true--it's because they've been doing the things that constantly produce large amounts of commissions for both themselves and the office. And the other agents who never make it onto this list are busy doing something else throughout the year. But yes, they're feeling busy throughout the year also.

Achieving the success you've always wanted in real estate involves:

1) Identifying the ideal prospects you want to work with

2) Having both the people and presentation skills to close these prospects on working with you exclusively

The rest is really just details.

To show you an example of this, when I first began my career as a commercial agent years ago, I was intrigued by a man in my office who had very little knowledge of property values in our real estate market. But interestingly, he always made great money. And it took me some time before I recognized that his success came from his ability to both identify prospects, and close them on working with him as their real estate agent. But despite his lack of knowledge of fair market value in our marketplace, he certainly talked to his clients and prospects like he knew exactly what he was talking about at all times. This made people feel certainty around him, which compelled them to want to work with him even more.

Now granted there were some times when I saw him with egg on his face when working with savvy, full-time real estate investors who knew value better than he did, but these times were definitely rare. And his confidence, assertiveness, and willingness to completely attach himself to his prospects whenever he smelled opportunity and not take "No" for an answer, made him very successful throughout his career.

In drawing a parallel here, I once read how Thomas Edison went about inventing the light bulb. It took him over 1,400 attempts before he successfully emerged with a light bulb that would work, but it was really his thinking along the way that I found to be quite extraordinary. He was so absolutely, positively convinced that he would find a way to do it, that he considered every one of these 1,400-plus failures an indication that he was one step closer to finding the right solution. By eliminating what didn't work one step at a time he reasoned, he was continually getting that much closer to what would work. That's how certain he was in knowing that he was going to find the solution.

I don't know about you, but I find this to be an amazingly powerful way of thinking.

How many inventors do you think would have still been trying new ways to invent the light bulb after only 30 failed attempts at it?  And can you imagine the power of applying this same kind of thinking to your real estate business also?

The more you're convinced with absolute certainty that you'll achieve the success you aspire to in your business, the more you'll guarantee it happening.

Getting rejected during prospecting, being turned down for an exclusive agreement, and having deals fall apart on you are all part of being a real estate agent. Heck, the most successful agents in the business are the ones who experience the most failure along the way towards achieving that success. They're the Thomas Edisons of the world who are convinced that constantly putting themselves out there and experiencing short term failure, puts them that much closer to achieving their dreams. For in reality the difficulties we experience throughout our real estate careers everyday are not really failures, they're just temporary outcomes. And the more that we understand this, and the more that we just move on to what's next for us to do without all the emotion and drama that can be attached to these temporary outcomes, the faster we'll achieve the success we want for ourselves.

To be the successful agent you've always wanted to be means moving through these temporary outcomes quickly and not letting them get to you. For when you instead try to avoid them in the future, this often requires pulling back from doing what will have you be more productive. The power to quickly move through these outcomes and be as successful as you want to be is in your resiliency, and in your letting go of your attachment to how negatively you feel about these outcomes.

As another example, if you look at a list of the Major League Baseball players who have struck out the most times during their careers, they are, one and all, the greatest players who have ever played the game. This is because the people who give their all towards achieving magnificence throughout their careers, are also the ones who experience the most failure along the way. But they know that by focusing on getting everything right the next time, and letting go of their most recent failure immediately, they'll achieve the results they've always wanted for themselves.

So have the mindset throughout your real estate career that no matter what happens to you on any given day, you have the ability to immediately rise above it. And know with absolute certainty, like Thomas Edison did, that you're now really that much closer to producing the results you've always wanted for yourself in your real estate business.

Click here to visit my Web site. There you'll find many articles and previous editions of my E-zine to assist you in taking your real estate career to the next level.

Subscribers to my E-newsletter receive FREE online training. My training course is designed to take you to the next level in your real estate sales career regardless of where you are currently at in your career right now. If you're not currently a subscriber to my FREE E-newsletter and you'd like to subscribe and receive my FREE 7-Day Online Real Estate Training Course, click here.

Click here if you'd like more information on my one-on-one coaching program to take your real estate productivity to the next level. One-on-one coaching is available for both real estate agents and company management.

"My work with Jim has stepped-up my marketing program, making it easier for me to follow-up on deals while continually creating a steady stream of solid new leads for me to work on."

John Kilroy
Coldwell Banker Commercial

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