For Real Estate Sales Professionals

July 14, 2003 E-zine

July 14, 2003





























Read by More Than 30,000 Agents

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

In this Issue:

1. Staying Focused on the "Big Picture" of Prospecting

2. The 3 Cardinal Rules of Real Estate Ethics

1. Staying Focused on the "Big Picture" of Prospecting

Prospecting is one of the most important activities that you can do for yourself as a real estate agent. Whether it be on the telephone, in-person, through E-mail and the Internet, or by sending out mailers, the more avenues that you are utilizing to consistently prospect, the more leads you are going to develop for yourself. And when you're focused on prospecting the right people, you'll be working on the best opportunities that continually materialize in your territory.

There are always a great amount of incredible leads for you to uncover every single year in your territory. Imagine all the transactions that continually close every year in your area without you, and you then begin to get an idea of all the great leads you're missing out on.

However, when it comes to prospecting, this is rarely a topic that agents embrace the thought of doing wholeheartedly. But at the same time, continual prospecting virtually guarantees that you will consistently experience abundant opportunities to close transactions on in your marketplace. 

In a recent interview that I did with top listing agent Mike Monteleone, Mike talks about how after 31 years in the business he still prospects approximately 12-15 hours a week. And it is this dedication to prospecting that has Mike continually earning over $1,000,000.00 a year. These exact same results are available to you too if you're willing to do the prospecting that will make it all happen for you.

What do you think would happen in your real estate business if you were continually prospecting 12-15 hours a week? Perhaps you're already prospecting this amount of hours every week, but if you're not, imagine the amount of additional business you'd be landing and the quality of the leads that would continually be coming your way for you to capitalize on.

One of the greatest obstacles that keeps agents from prospecting regularly is their attachment to how they think the prospects are going to respond to them. However, the real point is not how many leads you will uncover today or this week in your prospecting, or how the prospects are going to treat you when you call on them. What's really important is how much money you're going to make each and every year if you simply do your prospecting every single week. Don't be attached to how the prospects are going to respond to you. Just move ahead and do your prospecting, knowing full well that when you do so every week, you'll uncover so many great opportunities to work on throughout the year that will earn you an income that you'll be absolutely thrilled with.

You see, it's the big picture of how your prospecting will payoff for you over the course of every 365 days that really matters, not what you think or feel about how your prospects will respond to you today or this week. The truth of the matter is that some days or weeks you'll uncover no leads at all and you'll be treated horribly. At other times you'll probably feel like you've been treated OK and that you uncovered a few leads, and at still other times you'll feel like you're on a roll, uncovering an unbelievable abundance of great leads for you to work on.

The point of the matter is this:

If you just do your prospecting every single week no matter what, you'll earn an income you'll be thrilled with in your real estate business every single year.

So let go of your attachment to how your prospects might respond to you today or this week when doing your prospecting. Just commit to doing the prospecting you know you should be doing every single week. As long as you're going to be working the same amount of hours in this business anyway, why not just spend your time doing what will make you the greatest amount of money imaginable during these working hours?

When you're committed to prospecting every single week throughout the year, you'll continually be working on the best opportunities in your territory, and you'll continually make the kind of money you've always dreamed of making in this business.

2. The 3 Cardinal Rules of Real Estate Ethics

As an agent working in the business you are faced with situations where you stand to make a lot of money if a transaction goes through, and at the same time you want to make sure that your client's best interests are fully protected also. As much as we'd like to think that these situations are always black and white, when money is involved our impartial judgment may not always be as 100% impartial as we would like it to be.

There was a real estate seminar I attended several years ago on real estate ethics. It was a three hour class that was required for me to renew my real estate broker's license. The class was being led by a real estate attorney, and he opened the class by saying the following:

"I'm going to tell you everything you need to know as a real estate agent about the subject of ethics as it relates to your relationship with your clients in the next 30 seconds. 

If you're wondering whether or not something you have knowledge of during a transaction needs to be disclosed to your client, ask yourself the following three questions:

1. Is this something that I believe could affect my client's decision to move forward with the transaction?

2. Is this something that I would want to know about if I were the client and thinking about moving forward with this transaction?

3. Could I convince a judge and jury afterwards that I truly acted in my client's best interest in choosing not to disclose this information to the client?

If you answer "Yes" to either of the first two questions, or "No" to the third question, it's definitely time to disclose the information to your client."

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.

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Advanced Real Estate Sales Coaching
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