July 2, 2001 E-zine

For Real Estate Sales Professionals

July 2, 2001 E-zine

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Jim Gillespie's
REAL ESTATE SUPERSALES E-ZINE
July 2, 2001
Publisher: Jim Gillespie
Jim@RealEstateSalesCoach.com
http://www.RealEstateSalesCoach.com
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Doing what has you become the best real estate
agent in your territory definitely beats all
your other options.

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IN THIS ISSUE
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1. Are You Currently On-Track Or Off-Track?

2. When To Hire An Assistant

3. Tell This To Your Buyers and Lessees

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1. Are You Currently On-Track Or Off-Track?
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Are you currently on-track or off-track in accomplishing what you want as a real estate agent? How would you know one way or the other? First of all, do you have goals you have written down that you are working towards accomplishing in your business? If you don't, how do you really know what you are trying to achieve in your business, and whether or not you are successfully on-track in doing so?

If you have clear-cut goals written down that you are excited about accomplishing in your real estate business, then you can easily tell whether or not your game plan is moving you closer towards accomplishing them, or not. Then if you're not achieving your goals you simply need to revise your game plan to one that works more effectively.

If other agents in your territory are achieving the success you would like to be achieving, this means they're using a different game plan for success than you are. Find out what these people are doing that has them be so successful in real estate sales. Then learn how to incorporate these new activities into your own business.

If you find that you've been trying for some time to increase your business and haven't been able to achieve the level of success that you know you are capable of, consider the possibility of working with a real estate coach. A good real estate coach knows what activities are already producing great results for the top-producing agents and can show you how to incorporate these activities into your own real estate business. And, with a good real estate coach, you'll generate much more in additional commissions in your business than what you're paying the coach to help show you the way and stay on-track.

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2. When To Hire An Assistant
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How do you know when it's time to hire an assistant? First of all figure out what your time is worth per hour. As an example, if you're currently making $200,000.00 per year and you work 2,000 hours in a year, your time as an agent is worth $100.00/hour on the average. However, if you remember from a few E-zine issues back, your time is worth hundreds of dollars an hour more than this when you are engaged in doing the activities that are truly responsible for finding and bringing you new business. These include such activities as canvassing, going on listing appointments, showing property, having face-to-face appointments with clients and prospects, and designing and implementing new, more effective ways to bring you business.

Other activities that involve follow-up on deals already in progress and behind-the scenes work in your business are not worth your $100.00 hourly rate to get them done. Every hour of your time that you spend doing these activities takes away from time you could be spending truly doing the things that bring in new business. In a situation like this if you can pay someone $15.00-$20.00 an hour to help you with your follow-up work you will come out way ahead of the game. Of course, this assumes that you will use the additional time you will now have available to do the productive activities that will bring in more business for you.

In addition to getting your follow-up work done, hiring a good assistant will also help to streamline your operations so that everything runs smoother and much more effectively.

So if you feel incredibly busy and bogged down in doing follow-up work that takes you away from creating new business, do the per hour calculations for yourself then hire an assistant!

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3. Tell This To Your Buyers and Lessees
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Have you ever spent days, weeks, or months working with a prospective buyer (or lessee) only to find in the end that the prospect has just completed a purchase through another agent? Can you believe it? The nerve of some of these people!!! While many times we as agents feel slighted and upset that the prospect has wasted our time, the truth is that in many cases the prospect is oblivious to what they have done.

As an agent, all you have is your time. Your time is your most valuable commodity and you know that you must spend it wisely to maximize your income. When you spend weeks or months working with a prospect and they successfully complete a deal through another agent, you have nothing to show for that time and no way to get that time back.

To minimize the probability of something like this happening to you, get proactive with your prospects and educate them at the beginning of your relationship with them. Tell them something like the following:

"Let me explain to you something about the nature of my business. As real estate agents we don't get paid by the hour. We only get paid when we successfully complete a transaction between two parties. Therefore it's very important that we are careful in how we spend our time. Now you can understand how in working like this that it's very important for us to only work with people who are loyal--people who want to receive quality service from us and in return want to see us be fairly compensated for this service from the owners of the properties. Right?"

(The person will most certainly agree with you here.)

"Now can I assume that you are someone who would like to see me be fairly compensated for the work that I do for you by the owner of the property that you eventually purchase?"

(The other person will again almost certainly say, "Yes" here.)

"Great, so you're someone who feels it would not be right to have me spend weeks or months working with you and providing you with great service only to have me not get paid in the end."

(One more time, the person will most likely confirm this to be true.)

"Great, so the following is all I ask of you. I will provide you with the best service I can possibly give to you. I will present every property to you that meets the criteria of what you are looking for, and I will arrange to show you all the properties that you tell me you want to see. I will then help you to successfully negotiate a transaction that you will be very happy with and will also do all the necessary follow-up work to ensure a smooth and successful completion of the transaction. In exchange for this, all I ask is that you tell me that I'm the only agent you will be working with to find the property that's right for you."

Assuming that your prospect agrees with this it still does not guarantee that the prospect will complete a transaction with you, but it greatly increases the probability. Very few people in this world want to feel that they have not lived up to their word and have broken an agreement with someone. (Many who are OK with this practice, though, are currently thriving in the field of politics!)

What you have done here is educate and enlighten your prospect on what you are faced with day-to-day as a real estate agent. Your prospect has also gone on record with you stating that they want to see you get compensated for your work, and that they will work with you exclusively.

If after this presentation your prospect does not agree to work with you exclusively, you can refresh their memory about what they said to you a few minutes earlier regarding not wanting to see you provide great service and walk away without being compensated for it. Then it's up to you to decide if this is definitely someone you want to work with, or not.

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REAL ESTATE WEB SITE
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Visit my Web site at:
http://www.RealEstateSalesCoach.com
There you'll find many articles written
to assist you in taking your real
estate sales career to the next level.

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If you arrange for me to lead my 20-minute presentation entitled "Exploding Your Real Estate Sales to the Next Level" at your office in the Greater Los Angeles area, you qualify for free coaching. Call or E-mail me for more information.
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Jim Gillespie
Advanced Real Estate Sales Coaching
41890 Enterprise Circle South
Suite 135
Temecula, CA 92590
(909) 694-6655
mailto:Jim@RealEstateSalesCoach.com
http://www.RealEstateSalesCoach.com

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