Performance

Your performance is critical to your success. If you can’t convey your message succinctly and clearly, you won’t get the results you need to be successful. Your performance relates to your presentation skills. Your presentations must be delivered with enthusiasm, conviction and confidence based upon your research and knowledge of the market. In addition to gaining knowledge, you must rehearse your presentations. As the saying goes, practice makes perfect. Areas to focus on are your “elevator” speech, handling common buyer and seller objections, asking the appropriate questions, listening to their answers and taking notes.

To create an “elevator” speech, think in terms of the type and level of service you provide your clients, how your clients benefit from your services, and what differentiates you from others in your field. You must be able to communicate this value proposition concisely and have it rehearsed so it becomes second nature and sincere when you say it to others. Additionally, in this type of brief encounter, you must be able to let them know who is an ideal client for you. A professional, crisp, well delivered message can help you get more opportunities for success. Keep in mind that you performance should be less than 1.5 minutes or the time it takes to go up or down in an elevator!

As you contemplate buyer and seller interviews, think about common objections they have and how you answer them. Providing your clients with the appropriate answers by being prepared and by having the knowledge to answer them confidently show your professionalism and puts them at ease. A presentation with well rehearsed questions asked at the right time keeps you in control, sets expectations, and results in smoother transactions in the end. It is important for you to listen to the answers given by your clients and keep accurate notes and restate their answers for clarity. These steps will get results that lead to a great career.

When you can excel in your presentations your closing percentage will increase, you will obtain more referrals and in the end, add to your bottom line. Stay positive, focused and look for ways to continually improve your presentations and success will follow. Get it? Got it? Good!

Explosive Growth

Most agents today would love to experience explosive growth in their business and ask how this can be done. In order to achieve this type of advancement in their business they must be development oriented. The areas for development include education, lead generation, attitude, people, insight and must be competitive in nature.

Without a doubt, you must further you education on a consistent basis. In order to become well rounded in your education, you must read books on management, leadership, sales skills, attitude, real estate, biographies of successful people as well as books on change. Additional ways to further your education is by reading and reviewing trade publications distributed by your real estate association, your franchise and your company. We also feel strongly in having agents earn designations to further their business growth and most importantly attend and participate in the educational trainings we sponsor on your behalf to keep you abreast of changes in our market. Today, real estate, lending and handling clients, because of the media, is a moving target – you must be active to stay on top of the business and what is evolving to experience the explosive growth in your business. It has been noted in several other blogs, the more you learn – the more you earn.

You must have a client base in which to share all of your knowledge or you won’t experience growth of any kind. The avenues for lead generation come in many forms – family, friends, previous coworkers, past clients, social media outlets, new home sales agents, lenders, title companies, REO networks, business development groups, associations, charitable boards and endeavors, youth sports, volunteering, attending church, and so much more. You must be active and visible – through participation – to have an impact on those you encounter in order to generate leads. This requires you to get in front of people. Passive marketing efforts such as blogs, emails, direct mail, websites, the internet and personal notes will help but it won’t get it done – you need to get out from behind your desk and get face to face with people and make phone calls. You gotta speak with the people to have an impact and experience explosive growth. As Nike says – Just do it!

It is a fact; people like to be around positive people. They derive energy from the experience and become more upbeat and optimistic themselves. Each morning we wake up, we have 3 choices – be positive, be negative or be neutral. Why not wake up each day happy that we have the opportunity to have a positive influence on others? That we will face challenges and be able to overcome them in order to grow or help others flourish? That, no matter what happened yesterday in your business, today will be better and there will be more opportunities for you to take advantage of so you will experience explosive growth you desire? Have a fresh outlook on each day, be excited about what you will encounter, approach everyone you meet with a sincere smile and enthusiasm – you never know who your next client will be - this will enable you to spring out of bed ready to tackle what lies ahead and move you forward in your business. A positive outlook and attitude will move you ahead further and faster than the other alternatives. Think like the t-shirts say – life is good.

People are your most valuable asset and must be treated as such. In business, people fall into many different categories – past clients, current/future clients, coworkers, coop agents, vendors and team members. You must communicate with past clients on a regular basis with neighborhood market updates, refinancing opportunities, area information, and other items where they find value. This type of contact displays your professionalism. Keeping your current/future clients up to date with market values, interest rates, your knowledge of the area, information on market trends, etc shows your competence which will build your referral base. Your interaction with other agents will build your reputation as a professional who is on top of their game and an agent who people want to work with over and over again. Building a solid reputation for responding quickly with the right answers and politely will also encourage vendors to want to work with you as well as recommend you to those they know. It is also critical to understand that you must treat everyone with respect – whether they give it to you or not. This is not always easily done. You must practice patience, pause and then reply in a relaxed, calm demeanor. Escalation and retaliation won’t get you results you are looking to obtain. Speaking of results in regards to people, you need t o communicate expectations to your team regularly, ensure they are utilizing their strengths and show your appreciation for them to help you achieve explosive growth. People are essential to your success! Be kind, caring and sincere with them and your business will prosper.

We will touch on your insight into the business. In addition to training – the best ways to gain insight into the market is to preview properties. You are able to view inventory first hand, track the progress of each property’s sales cycle, recognize values as well as determine where property values are headed. You will have recall of these properties to share with clients or potential clients and show you are an expert in the market on pricing. You should also schedule meetings with industry professionals to hear what their thoughts on the market are and where they believe the market is heading to you help formulate your opinion so you can speak with confidence to others you meet. Visit new home sites, speak with the agents and ask about traffic, sales, buyer’s philosophies, and agent’s comments who they have stopping by their locations. It is a different perspective but very valuable. See properties, meet with others and explode your business.
Strive to be the best you can, be better every day, give it your all in each situation and you will get what you expect more often than not. You have to hate to lose and have the desire to win – improve and excel in every situation. Learn from your mistakes – we all make them – those who succeed in life and business learn from what they experience and don’t allow it to happen again. Set high standards for yourself and adjust the bar higher – regularly. Think win-win for everyone and watch your bottom line grow. In conjunction with this attitude, stay persistent. As Jim Valvano said, “Don’t give up, don’t ever, ever give up”. Be a competitor and be in the game – don’t sit on the sidelines and wait for it to happen.

These steps are similar to building a house – they are the foundation. A solid foundation = a solid house. Solid business practices = a consistent business, explosive growth and an expanding bottom line. Do you have it in you? Develop your vision of where you want your business to be and start to experience explosive growth. Get it? Got it? Good!

Amazed and Befuddled

The market continues to amaze and befuddle us. How it amazes us is that we continue to see sales in multiple locations with multiple offers in multiple price ranges. The media says we are experiencing one of the worst markets we have ever had yet it is obviously not the case. We are not sure if it’s us or our market, but our results are different than what the media is stating. We experienced our record month in February alone! Therefore, we are befuddled.

Other things we’ve heard about the market is that we are going to be inundated with
foreclosures. Foreclosures have virtually ground to a halt in our service areas. In speaking with our foreclosure specialists, the request from banks for Broker Price Opinions (BPO’s) has decreased by nearly 75% over this time last year. BPO’s are an indicator of future foreclosures to come on the market. The media says we are going to see an increase, we haven’t seen this yet and from what we hear, we won’t. Foreclosures are going to fizzle out by year end. Again, we are befuddled.

Builder sales have all but disappeared in March. How they can stay in business is befuddling. The media says sales and housing starts are up, yet we are not seeing it in our area, again…we are befuddled. How they are able to keep their doors open at this time amazes us.

Interest rates are low, how low can they go, we don’t know…and we are befuddled. But people should not wait to find out or try to time the market. It’s best to act now because there is no guarantee that the rates are going to go down as the media predicts. As the media has been wrong about the three previous items, they are as well with this…we do not believe interest rates will go down to 3% as predicted. They predicted several months ago that rates would go to 4% - buyers waited, they never did. Why would they say such preposterous things? Again, we are befuddled.

For the amazing truth, call your trusted Gateway agent

Build a business for life...

As the market shifted, some agents adapted to the change quickly, some were slow to change, and some never will change and will find themselves out of business soon unless their mindset shifts. As we all know, the market will change again and those who have built a business upon sound fundamentals will excel above and beyond others in the market place. Areas to build a solid foundation upon are communication, teamwork, a broad client base, continuous learning and your technical skills.
Communication on all levels is a key area to focus on for your business growth. It is important to speak the language of your buyers and sellers. Do they want to communicate through email, text messages, IM, phone calls or face to face? As technology advances and new communication tools develop, you need to adapt and embrace them to succeed. You need to learn to tweet, as well as utilize YouTube, Facebook, Linkedin, ping.fm and other new emerging communication websites. If you don’t – you may miss opportunities. You also need to find out how often they want to have communications with you. If some want daily contact and you can’t provide it – let them know up front. Setting this expectation up front will reduce stress on all parties. Keep an open dialogue and you will keep you clients and build a business for life.

When referring to teamwork, it is important to remember it is not just your “real estate” team members. You need to be cooperative with other agents, coworkers and vendors to help build your business for life. The negotiating game can become contentious at times, other party can be slow to grasp concepts or don’t listen to what you are saying or perhaps it may be their first transaction or they just may be a premadona. Whatever the situation may be, have patience with them, take the high road and temper your temper. Return phone calls, emails and other communications promptly – even if you don’t have an answer. The longer the timeframe between contacts builds frustration and escalates the situation. Respect the other party and take the time to contact them. When treating others with a condescending attitude, snappy answers or rude responses, people don’t forget and often times spread the word. Your listings will be overlooked and business – in the long run – will suffer. This carries over with coworkers and vendors as well. Build relationships with everyone you encounter don’t destroy them. You never know where your next deal may come from or if you are going to need the help of someone in the future. As discussed in the past – treat others how you want to be treated – not necessarily how they are treating you. Your attitude will take you far in this area. Build a network of team mates in all areas of your business to ensure your success.
A broad client base is a necessity when building a business for life. You must always be on your game as people love to talk about real estate. Business is done on the golf course, at the super market, on ball fields and at schools among many other venues – be ready and so you can build your business. You must also reach out and attend networking events, join associations, and develop a business to business referral base on top of your sphere of influence. Contact them consistently with a positive attitude, a sincere, genuine smile and great information and the business will follow.

Also, let’s not forget about learning. You need to keep up the changes in contracts, regulations set forth by the government, mortgage updates, adjustments in the market, the numbers and you need to develop your skill set for success. Read, attend trainings, speak with industry leaders, go to sales seminars, get a designation – it is that easy – but, you have to do it. The more you learn, the more you earn. As you all know, I am a firm believer in education – take the time to educate yourself so you can educate your clients and they will respond by giving you referrals.
Last but not least, you need to know the processes to show your competence. Know what each step everyone must accomplish in order for the transaction to occur seamlessly. Know what the lender does, the settlement company’s role is, what you must do and so on. The more knowledge you have, the more it shows and the more referrals you will receive. In addition, improve your presentation skills - be able to recite your sales contracts, addendums and listing agreements in layman’s terms with ease to exemplify your knowledge of them. Rehearse them, teach them and make it second nature to explain them and your business for life will prosper.

A business for life doesn’t happen overnight – it takes time, diligent effort and continuous improvement as well as adaptation to changes in the market. Get it? Got it? Good!

Consequences…are you ready to pay the price?

Life is full of choices. These choices impact those around us and those we encounter. It is important to think and understand the consequences of our actions and how they ultimately impact you. Areas to consider are you interactions with others, your attitude, your daily activities, your planning, your education and your business.

When we look at our actions, we must understand Newton’s law of motion – for every action, there is an equal and opposite reaction. If you are rude and nasty to others, others will be rude and nasty back to you. If you treat people with respect and kindness, more often than not, they will respond in kind. We see this in all aspects of our lives from the checkout counters at airports to our everyday dealings with our children, clients as well as other agents. Too many times we see and hear others speak and respond without thinking first. Take the time to reflect upon how you will respond to others in every situation and how it will affect your relationship. How you will be perceived by the other person and will your actions help you or hurt you in obtaining your objective? Will you be the better person and take the high road or will you be antagonistic and delay the process and cause the situation to escalate beyond repair? Too often, people don’t consider the elementary law of the “golden rule” - treat others how you want to be treated. Think in terms of killing them with kindness and keep in mind, you attract more bees with honey than you do with vinegar. When approaching others keep these thoughts in mind and you will build bridges, not burn them.

This leads us down the all important road of attitude. It is critical to be on top of your game with a positive outlook, upbeat approach, and optimism in every situation you face. It gives you more energy and creates more encouragement from within yourself to accomplish what you set out to do. One simple way to begin acting this way is to smile. Be genuine and do it often. When you portray a positive, solution oriented, helpful attitude with a smile, you will progress faster down the road in obtaining your objectives whether it is dealing with others, doing daily tasks or achieving your goals. Remember, you create your environment – make it enjoyable, as much as possible. Remove negative, pessimistic thoughts and your stress levels will decrease. Keep in mind that your attitude inspires you to achieve all that is possible in your life…don’t let yourself down – start with the right attitude – daily!

Your attitude also motivates you to accomplish the daily tasks you need to complete to reach your goals in both your personal and professional life. In business, it is taking the time to schedule your prospecting time of attending networking events, making your calls, writing your notes and visiting with your clients. Take the time to do one more of each (some daily, some weekly) and the results will follow. Make a daily “to do” lists, check off the items as you complete them and see your results soar. The consequences are, tremendous success or a mediocre career at best – what will you realize? Pay the price of making the right choice and do just a little bit more to reap the rewards you and your family deserve.

In order to know what to do daily, you must have a plan. What is your “big picture”? What do you want to achieve and why? If you don’t know what, when, where or why how will you be able to achieve anything? Take the time necessary to plan out what you want to accomplish so you know where you need to begin and it will help you determine how to get there. The consequences of not having a plan will be frustration, lack of fulfillment and diminished results – avoid this negative trap. Set you plan, open your sails and cruise to success in every aspect of your life.

One significant area to focus your planning on is your education. Continuous learning helps you grow and will take you further, faster. By understanding the business, trends, mortgages, contracts, and the numbers you can become better equipped to give the right advice to your clients and help you build your referral base. You can accomplish this by attending conventions, seminars, trainings, speaking with industry experts, and reading books, newsletters, magazines and articles on our business. Taking this small step can result in substantial gains in all aspects of your business. Understand the consequences of being educated!

I challenge you to focus on these few areas of your life and you will see your business grow to new heights. Be intentional in your dealings with others, your attitude, your actions, your plans and your education and your business will prosper in any market. Avoid these steps and the consequences of your actions may cause you to experience unsatisfactory results. Get it? Got it? Good!

Our Unique Market

Wow!! We discuss the level of appreciation we have for our market virtually daily. Our market is insulated from what most of the rest of the country is experiencing. The national unemployment rate is nearly 8%, we are less than half of that number. We are soon to become the financial center of the US with the actions the Federal government has taken recently - creating more jobs which builds upon the great employment base we already have in place. We are conveniently located to the culture of Washington DC, the great diversity this affords us, plus we have the ease of getting to the mountains and the wineries in that region as well as have the ability to get to the ocean in a few short hours. Add that to the 3 International Airports, the high level of education per capita, and some of the high wages in the US and it is easy to see why the real estate market is so robust in Northern Virginia. As we have mentioned before, RE/MAX Gateway is off to its best start in our 8 years of business - as a matter of fact, in February, we had our most sales ever in one month and as we all know, it is a short month! To find out the truth about Northern Virginia real estate, feel free to call the experts at RE/MAX Gateway today.