Transforming Yourself into a Real Estate Selling Superstar
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Grow your real estate business by embracing the tools, techniques, and strategies top producers use to lead their markets! You deserve more in your career explore this PowerPoint presentation created by Jim Remley and then jump on to erealestatecoach.com for even more!
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Transforming Yourself into a Real Estate Selling Superstar
- 1. Transforming Yourself Into a Selling Superstar
- 2. The Thousand Yard Stare
- 3. To Grow You Must Change It starts by making a real decision • Internal Motivations • External Motivations
- 4. Aspirational Goals Lasting change is built on a foundation of internal motivation that stems from Aspirational Goals.
- 5. Deflation •Why does our motivation sometime deflate?
- 6. 95% of us use an Escalator instead of stairs. Establish Your Status Quo Scenario
- 7. LASSO Your Business The FIVE Points of Power YOUR - LASSO L – Lead Generation A – Advising Clients S – Sphere Management S – Service Delivery O- Organizational Systems
- 8. Open a Path For Brutal Honesty “I am working hard on improving my business. Can you tell me two ways I could have improved my performance in this transaction?” Adopt the Principal of Continuous Improvement
- 9. Small Improvements Create Massive Change • Lead Generation “What is your housing situation?” • Advising Clients “I think what we have to decide is do you want to list the property or do you want to sell it – because there really is a big difference.” • Sphere Management Flag for Next Contact & Lead with the Client need
- 10. Small Improvements Create Massive Change • Service Delivery “I am going to email/text a link to your listing on <platform>. If you see anything you don’t like let me know and we will get it fixed…” • Organizational Systems Write down 5 things you should do every time you meet a buyer?
- 11. Live Design VS Business Design “Either design the life you want to lead or suffer through the one you are in – either way it’s your choice.”
- 12. Life Design Questions • What kind of relationships do you want to have in your life? • Where do you want to travel? • Where do you want to live? • What do you want to drive? • What does your health look like? • How much time do you devote to your faith, mediation, learning?
- 13. Parkinson's Law • Work expands so as to fill the time available for its completion
- 14. Do what you can, where you are, with what you have.
- 15. The Act as If Strategy
- 17. Can you put blinders on and Focus?
- 20. The Hardest Part of Sales People want to help you succeed – you just to have ask for their generosity.
- 21. Winners Live In the Risk Zone • How many risks are you taking everyday?
- 22. What is your housing situation?
- 23. Crazy question would you consider a cash offer on your home?
- 24. How is the Market? That Depends are you a buyer, a seller, or an investor?
- 25. Listen in the next couple weeks you are going to hear about someone considering a housing change. Would you do me a huge favor and send them my way?
- 26. Fear of People • F – Family • O – Occupation • R – Recreation • D – Dreams
- 27. Conversations • Oh by the way do you know of anyone considering a real estate change? I would love your referral! • Listen I have a buyer looking for <x> keep me in mind if you talk to anyone considering selling. I would love your referral. • Hey I would love to be on your short list of Real Estate Professionals your refer to… • Would it be Ok if I add you to my list of friends that I send regular real estate market updates too?
- 28. The Wisdom Technique • Wisdom is different than Knowledge
- 29. Model Behavior that Creates Predictable Results •Hey if you could live anywhere, where would it be? •That sounds amazing! So where do you live now?
- 30. If you like this home let’s take it off the market, so no one else grabs it. Buyer: How? We write an offer…. I will protect you with plenty of ways for you to withdraw if you decide you don’t like the house but if you don’t want to miss this opportunity I think we should tie it up…
- 31. The principle holds that 10,000 hours of "deliberate practice" are needed to become world- class in any field The 10,000 Hour Rule
- 32. Permission Based Marketing Would it be Ok…To send you regular real estate information about the market, hot trends, cool properties, and what’s happening in real estate?
- 33. The Home Value Update Approach • Imagine providing a free service to everyone in your database to update them on their home value annually. • Hey I am offering a home value update service to all of my friends. Its’ free. Listen I know you are probably not ready to sell but this gives you a good financial planning tool. • By the way if you know of anyone else who would like an update on their home value…friends or family… send them my way. I happy to help.
- 34. The Compound Effect • Sometimes when I consider what tremendous consequences come from little things, I am tempted to think there are no little things.
- 35. Proactive VS Reactive Mindset
- 36. Success Comes Down to Decisions • Work by Appointment • Use a “To Do List” • Use Power Hours • Lead Generate Daily • Value Your Time
Notes de l'éditeur
- So have you ever felt frustrated that you aren’t performing a higher level, that you are hitting a ceiling that you can’t push past, that you don’t have enough time, you aren’t making enough money… and not having enough fun? Well you are in the right place…all these losers around you feel the same way… You can model top performers, superstars, and thought leaders. You can lead your office, your company, and yourself to a level no one thought was possible.
- When I was 17 I went to work at a Lumber Mill….log pond…. Moving through the mist was the next shift - they were wearing jackets with an arm band that read – 10 years, 15 years, 25 years. These guys looked dead to me, miserable, like ghosts. I pictured myself 10 years in the future wearing one of those jackets and I knew I couldn’t do it…. I needed a career that was challenging, and different, and exciting. And real estate is all of those things – but it’s not walk in the park, right? My personal trainer has something he pulls out every time I am almost at failure he says remember Jim “It aint easy..” So remember when you hear something that sounds like work – repeat that mantra “ It aint easy!”
- Now to begin this process as the author Jim Collins in the amazing book “Good to Great” tells us we have to accept what every great leader understands…..to grow you must change. ‘To improve is to change; to be perfect is to change often.” Winston Churchill To ignite the fire to shift, to evolve, to move, to change.. requires motivation – there are two kinds - Internal Motivations and External Motivations… External Motivation: Someone telling you need to change..Lose weight, go to the gym, quit smoking… how do you respond? Often you don’t do it and if you do it doesn’t last… Internal Motivation: You deciding to change … A great illustration of this for me is the story of the Large single Man – who goes to his priest… everyone tells me I need to lose weight
- It’s easy to see the woman as a piece of external motivation but you would be wrong… If the woman were telling him to run or telling him to go to the gym or telling him to improve his diet this would be external motivation….but she didn’t do any of those things. She gave him something far more powerful – an aspirational goal. Something bigger than ourselves. The large man then instantly aligned his actions to achieve the goal – to kiss the girl. The most lasting changes, the ones that are foundational, come from inside you – they are built on internal motivations that stem from aspirational goals. After all you are the only person who knows what you are truly capable of achieving, not your mom, or your spouse, or your broker… it’s you. Create your Rolling 5 - 5 things you want to do or experience or own in the 12 months. Now attach a price tag to each item.. This is the money above and beyond your current budget that you need to earn to make the items on your Rolling Five Happen…
- Now I am going to make a wild guess and assume that at some point in your life you have had some internal motivation – but even with a clear aspirational goal you slowly inevitably deflated back to your old base line…. What happened? You had the carrot but you forgot the stick…
- Did you know that when confronted with a set of stairs or an escalator 95% of the population will chose the escalator? Why – it’s easier. The easier path is always continue doing what you have always done… to jump back in the pool of mediocrity… You need a stick to remind yourself what happens when you take the easy path… you need to embrace your fear of loss by creating a Status Quo Scenario. “If I don’t change my business model in one year I will probably…” Now fill in the blanks – Have more debt, not saved for retirement, not put money away for kids education, not gone on a nice vacation, still be driving the same car…
- In 2010, Dave Brailsford faced a tough job. No British cyclist had ever won the Tour de France….“aggregation of marginal gains.” He explained it as “the 1 percent margin for improvement in everything you do.” His belief was that if you improved every area related to cycling by just 1 percent small gains would add up… It worked they won three years in a row… Within your business there are Five Points of Power – these are the five fundamental pillars on which your business foundation is built. Use the acronym LASSO…to lasso is to throw a loop of rope around something: Now if you were to rate yourself on each of these items from 1-10. 10 being your God like and 1 being you are horrible… where do you see yourself on Lead Generation, Advising Clients, Sphere Management, Service Delivery, and Organization & Systems. Unless you rated yourself a perfect 10 on all of them – we have some work to do!
- One thing that all great leaders have in common was the ability to be self-critical – to assess in an unemotional way what was wrong with their current business model. We have to do the same thing in real estate so we can find our own Pivot Point …. how we will change our approach to the real estate business. One way to improve rapidly is to establish an open path for people to provide you with brutal honesty. Buyers/Sellers/Escrow/Lenders “I am working hard on improving my business. Can you tell me two ways I could have improved my performance in this transaction?” Pause “It’s ok I can take it..” Professional athletes go back to spring training every year – because they know that the fundamentals matter and that change is necessary to improve performance.
- Review
- Review Systems – It’s not an art form – Stephen King/Michael Angelo – the masters apply a system to their work art… You need to apply a system to every buyer and every seller a series of questions and systems..
- What if I said to you that you are living the life you designed today? It’s true we are the architect of our current world - ultimately we made the decisions that have taken us to our current point in our lives… I came to this realization after achieving a lot in my first two years in the business – top 1% in the nation, 150 properties listed, top agent in my franchise … I was also freshly divorced and sitting in an empty house… what I learned is that success doesn’t equal happiness or fulfillment. You see we make a choice we either design the life we want to lead or suffer through the one we have created. You see by default most of us build our life around our business. A classic example would be allowing yourself to work 12-14 hours a day, stealing time from your spouse and kids to invest in working longer, sacrificing quality time for yourself, obsessively reading texts and emails, going home not to rest but to start your second shift of work… rarely or never taking a vacation.. We live in a constant state of fear – fear of losing a sale, a listing, a client, a commission. This fear of loss drives our action and our choices…. The outcome is a miserable level of success. Those are the agents that on the outside appears successful but on the inside are dying a slow death…there are a few reasons one of them is…
- Review – How many would like the entire Life Design Worksheet? Now even with the best of intention it’s easy for us to fall into….
- For those of you who feel guilty when you don’t work a 70 hour week...In a study published last year by Stanford University the results are conclusive - output falls sharply after a 50-hour work-week, and falls off a cliff after 55 hours. So working longer does not equal productivity… the challenge is often getting ready to get ready, perfectionism, and allowing ourselves to fall victim to Parkinson's Law… Parkinson's law is the adage that "work expands so as to fill the time available for its completion“ How many times have you taken 2 hours to write an email that should have taken 2 minutes… Have many of us know someone who is producing 10X our sale volume? Are they working 10X harder or are they just working smarter? You see they are applying a different standard to their business – Teddy Roosevelt.
- We should embrace Teddy Roosevelt's philosophy on life – “Do what you can, where you are, with what you have…” Now if you don’t recognize Teddy – he was the youngest American President elected all the way back in 1901, and he was a character…. He was sickly kid who grew up to be outdoorsman – he road and fought with the Rough Riders a calvary unit during the Spanish American war and became a war hero – he was elected twice to the presidency – and during his tenure actually fought in boxing match that left in blind in one eye….During his third bid for the presidency he was shot in the chest during speech and stood up, shook it off, and continued speaking. He lost that election but then with his son sailed the River of Doubt – a 1000 mile uncharted river in the amazon. This level of commitment to action – and not getting wrapped in the small unimportant things of the day – it reminds of my friend Matt Jones – three time cancer survivor – he had stage four Lukiemia which had spread to his brain. They had to infuse radiation into the fluid around his brain – but he survived, learned to walk and talk again, and now he has completed 7 marathons on every continent on earth including Antarctica.
- Imagine that have already achieved your perfect– lifestyle. You are producing amazing results in your business, you live in a beautiful home, you have great relationships with family and friends, you dress impeccably, you are healthy and energetic… you take vacations and don’t work weekends or long hours. Now with every decision you make going forward – “Act as IF” you are already the person living in that space. Wake up when that person would wake up, workout like that person would work out, eat what the person would eat, lead generate like that person would lead generate, follow up and provide service like this new and improved person would…. You can be a better version of you – right now today. You just have “Act as If” you already there! You have to design proactively the life you want to live – reject what doesn’t fit this standard and accept that seeking perfection can actually slow you down. It’s understanding your Big Rocks…
- The best time management sentence ever written…Set goals and execute around priorities…was written by the late great Steven Covey… He gives the example of an empty pitcher representing your day – you have big rocks, small rocks, even smaller rocks, tiny rocks, and even sand. Yes you could fill the pitcher with sand - the thousands of mundane, menial tasks that can easily fill up you day – but then you would never be able to fit the big rocks in.. Your big goals come first. Of course some actions are better than other actions – Alfredo Parreto – an Italian economist wrote a paper in 1896 where he noted that 80% of his Pea crop only came from 20% of his plants but then he noted that in almost every environment - 20% of what you do creates 80% of your results. To have more positive results you need to begin focusing intently on what it is that is really creating success for you and others in your market – what leads to outcome! Lisa – 10 Transactions – 7 Sphere of Influence 2 Signs Calls 1 internet… Focus on what is working..
- You ever meet a dumb millionaire? They are smart in that they figured out how to create success and were to thick headed to stop… Think about your daily actions are they focused on the correct end result? The true priorities - or are you grabbing the tiger by the tail and allowing the day to run you. To be better at prioritizing pick your top six items to accomplish each day– studies show we rarely accomplish more than six things …Each bullet represent your limited time and energy don’t shoot at targets that are meaningless… On your to do list – write a B or an S next to each of your task items this will signal if the action item is related to a buyer or seller. Becoming sensitive to what really creates profit in your business will help you focus your time more effectively. The best example of being a priority master….going on Vacation…. You also need to eat a lot of Frogs…
- But what about the hard stuff – the stuff we don’t want to do? The ones that get pushed back – and end up on a constant loop on our to do list … These of course are the items we need to do first – Eat the Frog Mark Twain said years ago “If you eat a live frog first thing in the morning it will likely be the worst thing you all day.” His point: Do you what don’t you want to do first and win the day. What creates a win for you – something that creates long term results but that you kind of dread.. Prospecting, Follow Up, Calling Sellers, Transaction Management?? Eat the Frog – Do it first and win the day! Remember If You Don’t Prioritize Your Life, Someone Else Will…. It reminds me of a little video about the power of making your bed….
- Watch Video The hardest Part of Sales….(next slide)
- The hardest part of sales is daily lead generation…. Single Mom – Toys – Dumpster - Story What is the moral – When you ask for generosity – often the person who gives you the gift receives more than you… People want to help you succeed in life and in business… you just have to ask for their generosity.
- Think back for a second to your first kiss...you took a risk. A relationship risk by putting yourself completely on the line. How did it feel when you landed that kiss? It felt good right… exhilarating… thrilling even! Winners and Entrepreneurs live in the risk zone… it’s a place where you are willing to put yourself outside your comfort zone… Actors, comedians, athletes, performers…put it all on the line… they take a risk… To move to your next level you are going to have to take more risks… become corporate athletes willing to fail…it’s only through the risk of massive failure that you can create massive success… But we have to step on the field and be a player.. Let’s look at some scripts
- For instance why not begin asking this question when you meet new people – which should be every single day: The average person has 27 conversations a day… You can make this easier by wearing a name badge or logo clothing which creates an invitation to begin a conversation… “What’s your housing situation?”
- Or when hearing the inevitable “How’s the market?” Why not change the conversation by asking “Well that depends are you a buyer, a seller, or an investor?” Just saying – It’s great – doesn't help you capture the customer or create conversation… your goal is engagement. Have fun and be playful… How would you like a technique that will add business to your bottom line almost instantly…
- This is a classic example of asking for generosity but it’s also doing something deeper it’s engaging pattern recognition… I recently bought a new truck a Toyota Tundra – and guess what I started to notice – everyone is driving a Toyota tundra now. Of course that’s not true what’s trues is that my brain has decided that – noticing Toyota tundra is important. I giving my brain an assignment find Toyotas – and magically they appear. This is you Reticular Activating System (RAS). The RAS is the part of your brain that serves as a filter between your conscious mind and your subconscious mind. The RAS, which is located in the core of your brain stem, takes instructions from your conscious mind, and passes them on to your subconscious mind. The cool thing is we can give our clients subconscious brains an assignment as well…just by giving them a simple instruction.
- What could have stopped Mark – FEAR of People. FEAR of People is the biggest obstacle for all salespeople. But I am going to give you a simple and incredibly powerful technique for becoming comfortable and actually masterful and conversation. It’s the FORD technique….and we are going to test it right now in this room… Did you learn something – What did you learn? Now to take those conversations one level deeper learn take a risk and ask a question…
- Conversations Start noticing how great salespeople handle their conversations… My experience with…
- Bernie Goldbeck. a retired engineer from Hawaii but he was also an incredible salesperson - everyone loved the guy. The problem was…. Aren’t really making a living. So although they may have been in the business 20 years it’s really 1 year X 20 – these agents haven’t grown. They are stagnant. A way to supercharge your success cycle… a way to leap frog over agents with 5, 10 or even 20 years of experience. I call it the Wisdom Technique. Let’s define – Wisdom is: Applied accurate knowledge… Wisdom is different than Knowledge – a lot of people have book knowledge – degrees, reading, attending seminars… seminar junkies…but they never engage – they don’t apply what they learn…I know a lot of people with PHD’s who are flat broke… Winners instead Model behavior that creates results..
- Here is a script that changed my life - I discovered it by modeling a friend of mine Scot a successful REALTOR at my company. Within a couple seconds of any conversation turning towards real estate - Scot would ask this question: “Hey if you could live anywhere…where would it be?” This is a powerful question - it inspires thought - and evokes instant emotion -. I watched the reaction to the question and every single time - it stopped people. Almost universally they smile - and then they told him their housing dreams.… “That sounds amazing – so where do you live now?” and “do you have a REALTOR?” Now the deeper lesson here …you don’t get to tamper with the knowledge …. Imagine being on the operating table and a rookie doctor asks you “Hey can I try something new on you?” Stop looking for magic bullets…
- The top 250 agents in America – Mr. JJ Kramer. ..160 transactions plus a year… his magic words to a buyer: “If you like this home let’s take it off the market so no one else grabs it…” Buyer – “How?” “We write an offer…. I will protect you with plenty of ways for you to withdraw if you decide you don’t like the house but if you don’t want to miss this opportunity I think we should tie it up… “ So how do you move from just applying the knowledge to mastery? The answer is understanding the 10,000 Rule..
- Now to supercharge the Wisdom theory you can apply the 10,000 hour rule. Which was outlined beautifully in the book Outliers by Malcom Gladwell. What Malcom explains is that the people at the top of their field – aren’t the best looking, or smartest, they’re not the most talented, or the most connected – those are excuses the rest of us tell ourselves. What they have done is put in the work – To be the absolute master of their profession the bright line in the sand is 10,000 hours of practice. For instance - The Beatles performed live in Hamburg, Germany over 1,200 times from 1960 to 1964, amassing more than 10,000 hours of playing time, therefore meeting the 10,000-Hour Rule. The Beatles' biographer Philip Normam says "… by the time they returned to England from Hamburg, Germany, 'they sounded like no one else. It was the making of them.'" Another example – Bill Gates..He met the 10,000-Hour Rule when he gained access to a main frame computer in 1968 at the age of 13, and spent 10,000 hours programming on it. Now what does that mean for us as sales professionals? Simply put it means if we want to succeed in a massive way – it takes an investment of time. Record your listing presentation / your buyer presentation / objection handling…
- Our goal is to master one technique at time – here is one quick example: At the end of every single phone call – begin making an effort to add that person to your database. If you add one person every working day of the year you will add 220 people to you database. At my company we average one closed sale for every 10 people in our database by having a systematic, intentional plan of contact… Think about that by only adding one person a day you can add 22 transactions to your bottom line.. By the way notice the words – “Would it be ok” rather than “Can I” or “Do you mind” In a study done cited in the book influence by Robert Cialdini – using the words “Would it be OK” Triggered a response of Yes 70-90% of the time – but when the words “Would you like” were used that number reversed to a 70-90% No response. Language Matter – Words Matter – Practice Matters
- The Value Update is a service you offer to all the homeowners in your database. This is a simplified CMA that provides the homeowner with an update on their home value every year. Now you might say why would I to go all that work if they aren’t ready to sell? Have you ever lost a listing – a family member or even a close friend who you never thought would go with someone else – this approach locks down those relationships. Second it’s a service which get’s your clients talking about real estate which will lead to more referrals, and last it gives you an opportunity to ask for referrals. This one technique if done consistently can keep you engaged in a real meaningful way, a value added way to your entire database. It’s easy to caught in the now trap. Which is thinking that if my actions don’t create instant sales they aren’t worth doing…nothing could be further from the truth – which is why the Compound Effective is so important to understand..
- There is a compound effect in life and in business – it’s the power of small seemingly inconsequential actions adding up to massive changes in your life. There’s an old Chinese tale of a farmer. Think about this in your life … Walking 10,000 steps a day equals 5 miles day, 35 miles per week, 1820 miles a year… Read 10 pages a day and you will read a new book every two weeks… On the flip side eating a candy bar doesn’t mean much – but eat one every day for a year…100 calories a day / 10 pounds a year… Its why The author Bruce Barton says : “Sometimes when I consider what tremendous consequences come from little things. I am tempted to think there are no little things.” Let’s think about this in our business …Lennox Scott CEO of John L Scott Real Estate says that all transactions are the results of a recent conversation…his theory for every 30 conversation you have – you average one closed sale... So if you want to close – 50 transactions this year…that is 1500 conversations in a year divided by 220 working days or roughly 7 conversations a day… But the secret to the compound effect is that it is uneven process – results may not show themselves for several weeks or even a couple months….
- Imagine for a moment that you are a broker, that you own your own real estate firm and as you walk through after hours one evening you notice three desks: It’s a trick question – because it’s impossible to tell. Peter Drucker the famous management consultant and author tells us that efficiency and effectiveness are not necessarily related. The most productive agents are the agents who are most focused on the correct priorities.
- Success comes down to decisions. Pro-Active VS Reactive Mindset: Re Active Agents: Have no morning rituals or plan, Work by distraction – shiny object syndrome, Allow interruptions easily, Work with people that aren’t ready, willing, and able, and they don’t value their time… Pro Active Agents: Work by Appointment, they use a To-Do List, They Use Power Hours to Accomplish Big Goals, they Lead Generate Daily, and value their time. Thank you for being with me for this session – I look forward to the next sessions. Have a great conference.