Tip of the Week Are We There Yet?

Tip of the Week

Are We There Yet?
by Loren Keim

“Are we there yet?” is a question my children often ask when we’re driving on vacation or to relative’s homes. It’s the same question our realtors ask about the real estate market. When will the market begin to recover? When will buyers decide it’s finally a good time to buy? The answer is always the same – “We’re not there yet, but we’ll be there soon!”

Pastor Scott of New Life Church in New Tripoli, Pennsylvania opened his sermon this week with a joke. “A man walked in to see his doctor, upset because he believed he was shrinking. The doctor promptly responded, ‘Don’t worry, you’ll just have to be a little patient.'”

I realize that, for many Realtors, it’s hard to be patient in this market when your mortgage is overdue and someone is outside repossessing your car. As a rule, we’re not the most patient group. Successful salespeople are headstrong, impulsive, determined, and stubborn.

Sadly, we don’t control the marketplace or the economy, but we do have some control over our careers. When the market collapses, like it has over the past two years, many Realtors shut down and give up. Agents come to work a little later, go home a little earlier and perhaps spend more time watching television, commiserating with others about the market, or griping about the news or blaming poor marketing and spend less time building our careers.

However, there are still homes selling, even in the current market. There are people selling because of divorce, job relocation, and job loss. There are people buying because their leases are up and the interest rates are fantastic. There are buyers moving to the area for jobs and buyers purchasing because they’re having children and need a larger home. Really there are!

When others are working less is the time you can gain a competitive advantage by doing more and by working smarter. Additionally, there are so many methods to build business that cost little or no money. For example, when was the last time you went back through you list of past clients and called a few to reconnect with them? When was the last time you wrote a quick ‘Just-A-Note’ card to a friend, relative or past client?

Here are a few quick things you can do to try to generate business:
• Post your listings for free to Craigslist. We generate a number of buyers each month from our ads on Craigslist.
• Enter your listings for free into Postlets.com and syndicate your listings to other sites from there. It takes 10 minutes to add a listing and it’s syndicated to Trulia, Vast, Google Base, Oodle, Hotpads and others.
• Post a note about your latest listing on Facebook.
• Send out a free e-card from egreetings.com to several of your past clients.
• Send out an e-newsletter to your past clients.
• Pick up the phone and call anyone you know.
• Jot a handwritten note to someone you haven’t seen in a while.
The more action you take, the more likely you are to run into those who really need to buy or sell, which will help you to build your individual business. Sadly, when I suggest proactively seeking buyers and sellers, the immediate reaction is either “I tried that and it doesn’t work” or “I just don’t have the time to do all that stuff.”

I know each of these ideas work because they have each personally brought me buyers and sellers. And regarding the excuse that e-greetings, postlets and craigslist take too much time. Right now, you have plenty of time to work on building your business and none of them take more than ten minutes. So set time aside each day, perhaps in the morning with a cup of coffee, and build your business.

Waiting for the phone to ring and the market to return is not the way to build a long-term successful career. Don’t focus on what you can’t control. Focus on what you can control and get back to work. Buyers and sellers are waiting!

Persistence With Buyers by Dirk Zeller

Real Estate Marketing Tips From The Home Inspection Man

Persistence With Buyers
by Dirk Zeller

The key to securing the face-to-face appointment with the Buyer is persistence. A Champion Agent knows that persistence will create the payoff.

As a child and throughout my high school years, I personally witnessed one of the greatest stories of a salesperson’s persistence. Many salespeople know the story of Bill Porter because he is a legend of sales. His story has been profiled in newspapers, books, magazines, and even an Emmy award-winning movie about his life titled “Door to Door”.

Few people can say that they experienced it first hand, though. You would have been blessed, like I was, to see it first-hand by growing up in an upper-middle class neighborhood on the Westside of Portland, Oregon. For more than fifteen years I watched Bill Porter come to our door to sell household products in the rain, snow, and summer heat. He always had a smile on his face, shoes neatly shined, suit and raincoat on, and a glove on one hand to carry his large briefcase up and down the hills of his territory.

Bill Porter’s remarkable journey in life started with a tragic accident at birth that caused cerebral palsy. His condition affected his speech and his motor skills of walking and using his hands. He can’t even tie his own shoes or button his shirt, yet there he was everyday, walking several miles each day going door to door to sell his household products for about $1200 a month in income. His steel will and persistence won over his inability to verbally communicate clearly. He had his clients write out the orders since he struggled to write legibly. He would type out the orders one finger at a time on his manual typewriter to ensure his clients received the correct products on time. Bill Porter is truly a Champion in sales and a Champion of persistence.

There are two areas of persistence. The first is the willingness to continue to call for days, weeks, and even months until a prospect is ready to move forward in a purchase. Most Agents quit long before they call a few times. Be persistent with prospects during your lead follow-up process. The second and most important area of persistence that only Champion Agents possess is continuing to ask for the appointment on the initial call even in the face of a no from the prospect. Only a Champion Agent would ask for an appointment multiple times on the same call.

Champion’s Rule: Ask for the appointment more than once.

Most salespeople quit long before the sale is made or even the appointment is booked. Salespeople quit when they receive the first “no” or first rejection.

When Salespeople Quit
44% 1st time the prospect says “No”
22% 2nd time the prospect says “No”
14% 3rd time the prospect says “No”
12% 4th time the prospect says “No”

92% of salespeople quit before they acquire the appointment or the order from the customer. Only 8% of salespeople will ask more than four times. 60% of all sales made or appointments set occur after the prospect has said “no” four times. The net result is that 8% of Salespeople control 60% of the business . . . just for asking. Persistence will create the payoff.

We need to ask for the appointment more frequently on each call that we make. My philosophy is: get beyond the “four” threshold right on the first call!