For Real Estate Sales Professionals

March 28, 2005 E-zine

 

March 28, 2005
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Read by more than 30,000 agents

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

In this Issue:

1. Join Me for a Live Teleseminar This Tuesday Evening

2. Why Rapport is a Major Key to Successful Prospecting

3. How to Lose a Real Estate Listing...The Easy Way

1. Join Me for a Live Teleseminar This Tuesday Evening

I'll be hosting a telephone seminar TOMORROW, Tuesday evening, March 29th, at 8:00 p.m. Eastern Standard Time titled, "Power Brokering Commercial Properties on the Internet." My featured guest for the teleseminar will be Jack Peckham, CCIM, Executive Director of the Real Estate CyberSpace Society.

Jack is one of the foremost experts at selling and marketing commercial properties on the Internet, and he recently sold over $40,000,000.00 in properties on the Internet while spending only 20% of his time working in real estate brokerage.

If you recognize the value the Internet represents to your real estate business and you want to more powerfully market your real estate services through it, click on the following link for more information on this teleseminar:

http://www.RealEstateSalesCoach.com/JackPeckham.htm 

When you enroll in this teleseminar, you'll also receive a CD recording of it sent to you in the mail. So if you're wondering whether you'll be able to be on the live teleseminar call with 100% certainty...relax! You'll be able to listen to a CD recording of it whenever it's convenient for you when you move forward and enroll in the teleseminar.

I look forward to having you join us on the call!

Jim

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. Why Rapport is a Major Key to Successful Prospecting

As I've said for many years now, success in real estate sales and leasing primarily comes down to being very good at these two activities:

1) Identifying the prospects you want to work with

2) Successfully enrolling these prospects in working with you exclusively

At first glance it may look like building good rapport only pertains to the second activity above, but I can assure you this comes into play in your prospecting also. The reason I know this is both because of my own experience as a real estate agent, and because of my own experience in having real estate agents solicit me for business, too.

Whenever agents have contacted me, wanting to know whether I'm interested in buying or selling a home, I'm quickly sizing-up whether or not I'd be interested in working with the agent. And most of the time I feel that the agents I come in contact with lack the professionalism of really being someone I'd want to work with. This is primarily because there are simply a lot of mediocre agents out there doing business, and I want to work with someone who is professional, knowledgeable, and really communicates to me that serving my needs is their number one priority.

So I realize that if an agent approached me as a prospect and I felt they were probably not an agent I'd want to work with, it would simply be easier to downplay any interest I might have in buying or selling a home if I were in the market at that time. It's just a much easier route to go than telling the agent I'd like to do something, and then explaining to them why I'd have no interest in working with them at the same time. I mean why would I want to open the door to potentially having the agent pleading with me to change my mind about them and start working with them? I'd simply rather move on and find an agent I'd really like to work with.

So if this is the way that I feel, do you think that a lot of other people out there probably feel this way too? I mean if you were in the market for insurance, and an insurance salesperson called you who you felt was pushy and overly-aggressive, don't you think you might politely try to end the conversation instead of opening the door to potentially having them become your regular agent? I think this response is probably very natural for quite a lot of people.

With this in mind, what I'm saying here is your presentation and rapport-building skills will definitely affect how successful you are at finding new prospects. And the more that people like you and feel that you're someone they will want to work with, the more they'll open up to you and tell you the truth about when they'll be looking to buy, sell, or lease in the future.

If you've been in the real estate business for a number of years now, you may have even experienced the following scenario:

You connected with a prospect within the past few months and they told you they had no plans to buy, sell, or lease in the near future. And now, either weeks or a few months later, you've found out that a competing agent has signed an exclusive agreement to represent the exact same prospect.

While it's possible that there was some sudden change that necessitated the prospect now taking action, it's also possible that the first impression you made didn't convince the prospect that you were the agent they should be working with. And if this is the case, you may really need to work on your presentation and rapport-building skills with your prospects.

So here are two methods I recommend for doing this:

1) Get on the phone with someone you know and role play a typical prospecting call where you're talking with the prospect for the very first time. And record the conversation so you can listen to it again later on.

2) Videotape a typical presentation you might make to one of your prospects when you're meeting with them for the first time. And just as in the first exercise above, have someone you know role play with you as the prospect you're meeting with.

What I've found to be very true about building successful business relationships is that people want to do business with people who share the same beliefs, ideals, and opinions that they do. They also want to work with people who communicate that they provide great service, and that the client's needs will always come before their own. In addition, people want to feel that you're someone very similar to who they are themselves.

So the way that you look, dress, talk, and move your body will communicate whether the prospect feels you are someone they will want to work with...or not. With this in mind you'll want to vary the tone, tempo, volume, and timbre of your voice to match that of your prospects, in addition to matching their body language, too. And in the process you'll want to look and dress in the best way imaginable for the type of meeting you'll be having, the location where the meeting will take place, and the person you'll be meeting with.

And finally, when you listen to and watch the recordings of how you're presenting right now to your prospects, you'll learn much that will enable you to take your presentation skills to a whole new level. And when you learn to match and mirror your prospects' voices and body language, you'll soon find a lot more of your prospects deciding that you're simply the best agent they would ever want to work with.

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. How to Lose a Real Estate Listing...The Easy Way

One time when I was a principal selling a home there was an agent who clearly had the inside track for the listing with me. In fact, he was the only agent in my area who I had ever had a conversation with, and he and I had spoken with each other several times.

So when it finally came time to list the home I felt 90% certain that I would give him the listing, but I still thought it would be a good idea to talk with just one other agent. So I decided to call Ellen Conrad, an agent who had impressed me with the mailings she had been sending out over the years.

When I met with Ellen I continued to be impressed with her. She was one of the most successful agents working in the area, and she was very nice, friendly, and personable also. But after I met with Ellen I still felt that I would probably list the home with Bill (not his real name), the other agent I had talked with and built a relationship with over the years.

And while Bill still had the lead in my mind, I decided I wanted to meet with each of them just one more time before I'd sign the listing. And Ellen, very intelligently, asked me if she could be the agent I would meet with last before making my final decision. (This is very smart for any agent to do as there's no way an owner can sign a listing agreement until they've finished their meetings with all of the potential listing agents. So the agent who has the final meeting has the first opportunity to obtain a signed listing from the owner right then and there.)

So I called Bill on the phone, and told him I had two questions for him:

1) "What will you do to market the home that will be different from what all the other agents are doing?"

2) "Can we meet with each other one more time in person?"

And...Here was Bill's answer to the first question:

"Well all of us agents basically do the same things, so I really don't think there's much of anything I'll do differently than any other agent to market the home."

And here was his answer to the second question:

"I don't think it's necessary for the two of us to meet with each other again. There's really nothing new I would tell you that I haven't already told you."

WHOOSH!

In one simple two-minute conversation, Bill had lost the listing to Ellen.

Can you see how everything I had believed about Bill was lost by his answers to those two questions? Who wants to list their property with an agent who openly tells you that they're no better than than all of the other average agents out there? I mean, I've been a real estate agent for 25 years and I'd still like to feel that the agent I'm working with believes that they're better than the average agent.

And can you imagine turning someone down for one final meeting together when the person is considering signing an exclusive agreement with you?

Well, in my situation, I met with Ellen one more time and signed her listing agreement. Then I called Bill and left a voicemail message for him telling him that I had listed the home with Ellen. And then something completely unexpected occurred....

Bill called me later that day and left me one of the most abrasive voicemail messages I've ever received. He screamed on the message and told me he felt he was never even in the running for the listing...which was totally not true. Had he just given me a good answer to the first question and met with me in person one more time, I'm certain I would have listed the home with him.

(Interestingly, I found out later that Ellen had actually trained Bill when he first came into the business, which probably made him even angrier when he found out I had given her the listing.)

So my point in discussing this is to remind you to follow-up impeccably with your clients and prospects. People want to know that you're the best choice they could ever make in a real estate agent, so never, ever get lazy and settle for projecting mediocrity to them.

And if a potential client ever asks you for one final meeting before they decide on whether or not they'll work with you exclusively, what do you think would be the best way for you to respond to them?

 
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.

Your subscription to my real estate E-zine entitles you to 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. To receive my FREE 7-Day Online Real Estate Training Course send a blank e-mail to the following E-mail address:

realestate101@RealEstateSalesCoach.com

You will receive your first of seven lessons within minutes after sending your E-mail. You will then receive six additional lessons, one each day, for a total of seven lessons in seven days.


Find out why one-on-one real estate coaching produces much better results for you than both traditional real estate training and continually trying to do your real estate business on your own. If you'd like to find out how much more money you'll make in your real estate business by working with me one-on-one, send me an E-mail or give me a call at (951) 694-6655.

"Jim's coaching and training has assisted our company in landing millions of dollars of new real estate business."

Pat Hall
TOLD Partners


If you arrange for me to lead a seminar or training for your real estate company you qualify for FREE coaching! Call me or email me for more information.


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America's Premier Real Estate Coach®
Advanced Real Estate Sales Coaching

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