Many real estate trainers, speakers, and ‘gurus’
preach the same gospel :“If
you want referrals, you better ask for them.”
I say just the opposite.
All the gurus that tell you to ask for referrals
after every sale are missing one big point.Think about it.How
do your potential buyers, sellers and past clients FEEL when you ask for
a referral?
It’s an uncomfortable moment.They know you want something from them and it tarnishes the trust
you’ve built together.
Instead of a confidant, you become a typical salesperson.And most salespeople – like it or not- are seen as sharks by the
average consumer.
My own personal market research focuses on what the
consumer wants and how he or she reacts to what you’re asking for.All the consumers I’ve talked to adamantly state that if you
exude professionalism and stay in touch with them, they will give you
referrals – without you ever having to ask for them.
IF you’re not getting referrals, it has nothing to
do with whether or not you are asking for them.Here are the real reasons you’re not getting referrals:
1.You’re
not staying in touch with them after you get their money.Consumers want professional advisors who are looking out for them
out of genuine concern – not just to make a sale.
2.Your marketing campaign is ego-based(meaning it’s all about you and your next transaction).This creates the image of a shark-like predator in people’s minds
and they will avoid you just as they would a Great White.
3.You’re not giving enough of your
expertise away.By ‘giving
away’ I mean your expertise, advice, and good will – positioning
yourself as your clients’ trusted expert.
The main reason people are stingy with giving
referrals is that they’re afraid you may reflect badly on them.They don’t want to disappoint their friends and family by sending
them to yet another shark.
Even though you may be an honest pillar of your community, asking for a
referral triggers the ‘shark alarm detector’in people’s minds.
Also, when you’re at parties or events, don’t’
hound people by asking for business.Toomany real estate
agents are in the nasty habit of handing out cards while saying “Call
me!” with a cheesy smile.
Instead, just talk to people.It’s okay to tell them you’re a real estate agent.But instead of asking for business, share something with them.Ask for advice about what they’re an expert on.Make a connection.
Then, shake hands and exchange cards without asking for business.Making a connection is a two way street not a one way road.
They know now what you do, and will be more likely
to call you when they need you.You also know what they do and can refer business to them.See?“Win-win” always
works.The sharks aren’t
making strong connections with others and are developing a bad
reputation in the community by presenting themselves as predators who
only care about their next sale.Don’t be one of them!
One more tip:Some of the best referrals come from transactions where things
have gone wrong.You may
think I’mjoking, but it’s
true.When you take a
disaster and turn it around with your diligence and hard work, you often
shine brighter than in transactions when everything goes smoothly.
Never ever think that you’ve screwed up!When problems arise, this is your golden opportunity to generate
referrals.Dive in there and
fix everything – no matter how irate or unreasonable your client may
appear at the moment.They
will sing your praises just as strongly when you solve new problems.
Bottom line:If you feel uncomfortable asking for referrals, you can bet your
clients do too.It sounds
great at a seminar, but in real life if you’re doing anything that makes
you feel uncomfortable, it will show in your mannerisms and voice.This sparks distrust and sets off people’s finely tuned ‘shark
alarm detectors’.Don’t be a
shark!
But does it feel uncomfortable to send out real
estate information in the form of letters, articles, or reports?No.You always feel
good knowing you’re serving your past, present and future clients.And they feel good knowing there is somebody out there they can
trust.Every time you
contact them, you are in effect generating referrals – without asking.
And if you don’t agree with me that is okay because
what really matters is how your clients feel when you are asking for
referrals.What may seem to
work for you may not work for them.
Denise Lones
Denise Lones CSP, MIRM The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”.
Denise’s background in residential real estate sales and management includes an impressive list of awards. Using custom marketing campaigns and business development systems she personally created, she was consistently among the highest producing Realtors® in a marketplace of 3,000+ agents. Denise was the only agent in the State of Washington to be awarded the esteemed MIRM designation – the top national achievement for new home marketing. In 2004, Denise was awarded the prestigious Hugh Hawkins Instructor of the Year Award by the Washington Association of Realtors.
As a columnist for isucceed.com, Realty Times, the National Association of Home Builders, and the Washington Association of Realtors, Denise has a strong “voice” in the real estate community.
Denise is a certified instructor for many prominent trade groups and educational institutions, including the Washington Association of Realtors, Master Builders Association, iSucceed.com, Washington State Department of Licensing, Windermere Real Estate, and the Washington State Housing and Finance Committee
With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
FOLLOW-UP AND FOLLOW-THROUGH…WHEN THEY LEAST EXPECT IT!
Almost five years ago I first met her.Her name was Jill.
(No, this isn’t a cheap romance novel.Stick with me here.)
Jill is a happy, bubbly lady who works at the cosmetics counter at
Nordstrom’s—selling a very expensive line of cosmetics.
I was shocked to find out that a simple little jar
of cream for your face could cost $200.With excitement and a deep concern for what I was looking for,
Jill patiently explained to me what each bottle does and how it works.
Before I knew it, I was walking out the door with a
giant bag of creams, potions, and lotions that I never heard of…and a
bank account much lighter than when I entered.What was I thinking?!
Never in my life had I splurged so much on stuff for my face.I promised myself, “Never again will I spend so much on silly
cosmetics!”
Two weeks later, Jill called me. “Do you notice a
difference yet?,” she asked.
Four weeks later, she called again.“Are you seeing anything yet?”
Two months later: “Are you a new woman yet?”
Jill’s follow-up is simply unbelievable—something I
had never seen before.The
fact that she calls me to ask if I notice these changes encourages me to
keep using the product, instead of letting it sit on a shelf.By doing so, she keeps me thinking, “Well, it must work, if she’s
so expecting me to see a difference.Maybe they’re not just silly cosmetics after all!”
When she calls me, she’s short, sweet, and to the
point.And not only that,
she doesn’t push me to buy anything else.This alone makes me more inclined to buy from her again because
she’s showing me that she cares, and she’s not in it just for the quick
buck.
Which is the opposite of Larry. (This is not his
real name, I have changed his name to protect his identity and to not
embarrass him) Larry is a stockbroker I consulted when I first decided
to invest.I had little
experience and I was looking for a seasoned professional to help me pick
my stocks.He was nice,
patient, and very informative.But guess what?Once
he got my money…I never heard from him again!Until…
My name was in the paper because my family was
involved in a very bad pipeline explosion.All of a sudden, Larry calls me with fake concern saying “Hope
you’re doing well.Heard
about the accident.Oh, and
by the way, I’m sure you’re going to sue the company, so when you get
your settlement, I’ve got some great stocks for you!”
Talk about an ambulance chaser!This guy proved to me that he’s nothing but an opportunistic
leech who cares only about stuffing his wallet.The only reason he called me was because he wanted something from
me, not because he cared about my family’s well-being after a serious
accident.Will I ever buy
anything from this scumbag again?Absolutely NOT!
But…just last week, Jill called me again.Even though I promised myself that I would never again buy her
cosmetics, I’m so comfortable with not only using them—but also with
Jill’s interest in their effectiveness—I lightened my bank account
again!
What’s the lesson here?Follow-up!It is
genuine, warm, caring concern for the people who give you money.Don’t be fooled. When the sale is over, the sale is far from
over!If you are a
successful professional, you care not only about making money, but also
about the people who give it to you.It is not what you do for someone when they are paying you that
counts…it is what you do for them after you have received their money
that really impresses them.
Pick up the phone and call your clients or send
them a great article in the mail.They may have a question or problem that they’re afraid to bring
up, but your follow-up will fix it for them and make them more inclined
to buy from you again and send friends to you.
Are you making your clients’ experiences easy?Are you solving their problems?Do you truly prove to them that you’re still in it for the long
haul—even after they’ve given you money?
If you can follow up with people the way Jill
followed up with me, you will get repeat business.Period.
Denise Lones
Denise Lones CSP, MIRM The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”.
Denise’s background in residential real estate sales and management includes an impressive list of awards. Using custom marketing campaigns and business development systems she personally created, she was consistently among the highest producing Realtors® in a marketplace of 3,000+ agents. Denise was the only agent in the State of Washington to be awarded the esteemed MIRM designation – the top national achievement for new home marketing. In 2004, Denise was awarded the prestigious Hugh Hawkins Instructor of the Year Award by the Washington Association of Realtors.
As a columnist for isucceed.com, Realty Times, the National Association of Home Builders, and the Washington Association of Realtors, Denise has a strong “voice” in the real estate community.
Denise is a certified instructor for many prominent trade groups and educational institutions, including the Washington Association of Realtors, Master Builders Association, iSucceed.com, Washington State Department of Licensing, Windermere Real Estate, and the Washington State Housing and Finance Committee
With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
A SHOCKING PHONE CALL—DON’T LET THIS HAPPEN TO YOU!
You know something is very wrong with our industry
when a top producing agent—and I’m talking a major player here—calls to
inform me that she’s going to be getting out of the market.
Background: She’s been in the business twenty
years.She’s consistently
made a quarter of a million commission dollars for the past ten years.She is well-respected in her community and in the industry.
But now her attitude is so out of alignment that
she wants to throw in the towel.I could have believed it from almost anyone else.But not her.
It was certainly a shocking but enlightening phone
call.I asked her, “Why in
the world would you ever think about getting out of the real estate
market?”
Her answer was stunning.
“Denise”, she said, “even my broker tells me that
it’s going to take another year or two to get out of this.My husband watches the television news and is petrified that our
savings are going to dwindle.Plus, every agent around me is confirming that the market is
crashing, so what am I supposed to do?”
I almost pulled my hair out when I heard this.Nothing could be further from the truth.
Here’s a newsflash: Real estate in the State of Washington is not
crashing.Real estate in the United States of America
is not crashing.
Has real estate crashed in individual areas that
have overbuilt?Yes.Has real estate experienced challenges where too many investors
came in and bought up too many properties in certain areas—properties
that they could not afford?
Yes.Were there areas hit by
extremely high rates of adjustable mortgages?Yes.
But not here in Washington.
In fact, this agent works smack dab in the middle
of the Seattle area.Which is why I was so shocked when I received this call.
In real estate, attitude is everything.Your attitude should be protected like an egg.It is that fragile.
When you allow people to get into your head to the point where you’re
considering leaving the business, then it’s time to take a good hard
look at who you’re hanging out with.In this business, your friends can unknowingly become your
enemies.
If you work for a negative broker who whines about
the calamity of it all every day, then you need to find a new broker.I’m serious.It’s
impossible to work for somebody who is tearing the business down with a
rotten attitude.
If the agents surrounding you are so misinformed,
then you’re a tiny boat in a vast stormy sea.You’d better find some calm waters quickly.
Don’t just take my word for it.Check the numbers.If
any agent or broker was examining their stats on a regular basis, they
would see that in August 2008 the Washington market began
to rebound.Just when things
started to turn around we hit September which saw the beginning of an
economic crisis that absolutely concerned everybody.This caused another stall in our market….but it was just a stall.
Yes, I know it’s scary.I cannot predict exactly what will happen with Wall Street day to
day or the global markets but what I do know for sure is that real
estate is a supply and demand driven industry.What happened has everything to do with consumer concern (and we
can’t blame people for being concerned about this latest economic
development) not the laws of supply and demand.Those laws are still there and we need to pay special attention
to the facts not the media hype.
And is anybody paying attention to the lineup of
buyers who are sitting on the fence just waiting to buy?Has anyone looked at our population growth in the State of Washington lately?How about Immigration?Migration?The strong
job market?
True, the job market has weakened a little lately.But we’ve had an amazing job market for many years—much higher
than many other areas of the country.
But in light of all the media coverage of the
crisis, nobody can see that.
The fear has become palpable.And it’s causing people to do stupid things—like consider
quitting their businesses.
Fear is the problem.The fear causes these people to quit, which brings the economy
down further . It is the
responsibility of every business owner—to their families, their selves,
and their principles—to ride out bad times.
The reality is that we are fortunate to be living
where we are.People love it
here in Washington.They want to be here.
They come here.They stay
here.They buy second homes
here.
The need isn’t going anywhere.Demand is healthy.
So, back to the agent who called me.What do you think I said to her?Well, all I can say is that I wish I had a tape recorder running
at that moment because I gave her the biggest reality check of her life.
By the time we were off the phone, she was relieved
and happy again.Because she
didn’t really want to get out of real estate.She was literally being forced into a bad decision by people with
bad attitudes.
Funny thing is, that’s all she needed.She had been told so often that everything is crashing that the
repetition of it became embedded into her subconscious mind.
We—and I mean all of us—are surrounded by negative
people.In fact, I’d say
that 98% of everybody out there is negative.We need to be part of that tiny minority—that 2% that continues
to make things happen no matter the size of the storm.It’s that 2% that will get all the business that the 98% will
leave behind due to a bad attitude.
I don’t know who you’re hanging around with or who
you’re listening to, but you need to put a freeze on negativity.You don’t have the time for it.
Instead, make good friends with the numbers.Numbers don’t lie.
Get out your calculator.Do
the research.Get informed
about your area in terms of demand.Check the trends.
Don’t just take the media’s word for it.Find out for yourself.
Now, you may be saying to yourself, “But Denise,
buyers are sitting still right now.”
This is true.I won’t deny it.But
that’s your fault too!Have
you called some of them lately and said, “Listen, right now is the most
opportune time to buy real estate.I understand everybody else is sitting on the fence, but as my
client I want you to be the smart one.”
Have you had this conversation with your clients
lately?If you haven’t, then
you’re not doing anything to help them.And that certainly doesn’t help your attitude.
Have you called your overpriced sellers lately?Give them a reality check.Inform them that even if they come down 5%, the home they want to
buy is also reduced 5%.So
it’s a moot point.If you
haven’t had this conversation with them, then you’re simply not doing
your job.You’re sitting
around listening to too many negative people.
I hate to have to be harsh, but the time has come.I’m fed up with bad attitudes and I’m not going to allow some of
the best agents in our industry to get out of the industry because of
fear!!!
So, get out there!Take action.Change
that attitude.Help your
clients to take advantage of what will prove to be the most opportune
time ever to buy real estate.
Ask Denise
Q: “Denise, how do I deal with time-waster clients?”
A: The only reason you’re even asking about
time-wasters in the first place is because you haven’t learned how to
ask the right questions.
They’re wasting your time because you let them.They want to go see ten more houses, but you don’t even question
the last ten you showed them.You just agree, hoping that you’ll hit pay dirt on the next ten.
It’s time to leave the gambling to Vegas.You need to qualify and interview people more.That’s all time-wasters are—people you haven’t communicated with
enough.
If somebody’s wasting your time, sit down, slow
down, talk to them, and ask them questions:What did you like?What didn’t you like?
What was your favorite feature?What can’t you live without?What can you live without?
Be more open with your clients—and make sure you
lead them.Don’t let them
lead you.
Denise Lones
Denise Lones CSP, MIRM The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”.
Denise’s background in residential real estate sales and management includes an impressive list of awards. Using custom marketing campaigns and business development systems she personally created, she was consistently among the highest producing Realtors® in a marketplace of 3,000+ agents. Denise was the only agent in the State of Washington to be awarded the esteemed MIRM designation – the top national achievement for new home marketing. In 2004, Denise was awarded the prestigious Hugh Hawkins Instructor of the Year Award by the Washington Association of Realtors.
As a columnist for isucceed.com, Realty Times, the National Association of Home Builders, and the Washington Association of Realtors, Denise has a strong “voice” in the real estate community.
Denise is a certified instructor for many prominent trade groups and educational institutions, including the Washington Association of Realtors, Master Builders Association, iSucceed.com, Washington State Department of Licensing, Windermere Real Estate, and the Washington State Housing and Finance Committee
With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
I was speaking at a
marketing conference last weekend in Costa Mesa, CA
and I was struck by how many business owners were unable to tell me
exactly what it is they do.
Many of these people have wonderful business
ideas but are having problems bringing them to market.
Why?
They are too “wide angle.”They’re trying to solve everybody’s problems and be
everything to everyone.
It’s like they’re afraid of losing business by leaving somebody out
so they try to appeal to the widest demographic possible.
In marketing—whether you’re selling real estate
or computer chips or hamburgers—in order to truly dominate your
marketplace, the more you “zoom your lens” for a close-up of your
clearly defined target prospects, the more successful your
marketing.
For example, at the convention I spoke with a
very nice lady who calls herself a “psychic healer.”Well, that’s a pretty broad term.What do you heal?
Who are you healing?How
does it work?
“I’m a…” is a disempowering way to begin a
sentence, especially a description of what you do.We humans have a habit of “labeling” ourselves—labels that
can hurt us.The very
phrase “psychic healer” is a red flag to many people and as soon as
they hear it, they run.
Same for “attorney,” “banker,” and yes…even “real estate agent.”By labeling ourselves, we may actually be repelling business.Instead, we need to zoom in on exactly who we help, what we
help them do, and how we help them.
When I’m asked what I do, I don’t label myself
as a “speaker” or “trainer” or “consultant.” My “zoomed” answer is:
“I help business owners increase their income and take business to
the next level with visual marketing.”
A “zoomed” answer for the psychic healer would
be: “I help people who are financially rich but emotionally bankrupt
‘get it together’.” This is much more succinct: The focused database
is “financially rich.”
The focused problem is “emotionally bankrupt.”The focused solution is “get it together.”
Is this a smaller target base?You bet!Do you
have a higher chance of reaching someone?You bet!When you
clearly define your target audience (and yes…you’re going to have to
leave somebody out…take a deep breath…it’s okay), you become
infinitely more appealing to the exact people who are willing to
hire you.
This is a troubling concept for many business
owners who feel that by leaving somebody out, they’re going to miss
out on business.It’s
just not true.
Practitioners in every field under the sun have proven it over and
over—the more you specialize, the more business you get.
So let’s start your own “zooming in” process.Ask yourself these five questions:
What is it I really do?
Think beyond “real estate agent” or business
owner .How do you help
people?
What segment of my market do I really like
to work with?
Be specific.Business owners?
First-time home buyers?
Divorced moms?Your
extended Greek community?(That was mine when I first started out.)
How do I really like to serve them?
What do you do best?How do you do it?
If I were to tell somebody what I do, how
would I explain it?
Here are some examples:
“I help newly married couples become
financially wealthy through real estate.”
Or, “I work with recent retirees to help them
transition into a new home.”
Or, “I help real estate investors find
income-producing properties.”
Aren’t these better than “I’m a real estate
agent”?
Does my visual image match my target
audience?
If your targets are
millionaires, you’d better have marketing materials that appeal to
millionaires.If your
target is single moms, you’d better have marketing materials that
appeal to single moms.
This includes your headlines, your tone, your
graphic images, and your colors.Most people neglect to match the photos they will use to the
overall marketing feel.
So there you have it.Zoom in, throw away your wide-angle lens, and get more
business!
Denise Lones
Denise Lones CSP, MIRM The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”.
Denise’s background in residential real estate sales and management includes an impressive list of awards. Using custom marketing campaigns and business development systems she personally created, she was consistently among the highest producing Realtors® in a marketplace of 3,000+ agents. Denise was the only agent in the State of Washington to be awarded the esteemed MIRM designation – the top national achievement for new home marketing. In 2004, Denise was awarded the prestigious Hugh Hawkins Instructor of the Year Award by the Washington Association of Realtors.
As a columnist for isucceed.com, Realty Times, the National Association of Home Builders, and the Washington Association of Realtors, Denise has a strong “voice” in the real estate community.
Denise is a certified instructor for many prominent trade groups and educational institutions, including the Washington Association of Realtors, Master Builders Association, iSucceed.com, Washington State Department of Licensing, Windermere Real Estate, and the Washington State Housing and Finance Committee
With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
Real estate agents have a hard time talking to
their clients about negative events in the media such as natural
disasters like the one we recently witnessed.The past couple of weeks, there has been a media frenzy…and
rightfully so.Lives
have been devastated and we all mourn the losses of the survivors of
Hurricane Katrina.
You can’t sit in your living room without being
emotionally affected by the raw power of the images of suffering on
your television.New
Orleans’ loss is our loss, and our thoughts and prayers are with the
victims.
But real estate agents, sit up and take notice!This is the time for you to shine with your clients.You are the calm voice of reason, assuring them that the
immediate real estate slowdown triggered by events in New Orleans is
only temporary and will bounce back quickly.
One thing you have to understand is that people
in this country are strong.If you go back in history and track every natural disaster in
the United States, the one common denomination is that the area
becomes bigger and stronger than ever before.Look at New York, for example, following the horror of four
years ago.The Big Apple
is united in a way it never was before.
Right now, Hurricane Katrina is affecting every
economic market in the United States.From high gas prices to the stock market to the housing
market, its effect has slowed down ‘pending’ numbers.Pending numbers represent “now” transactions in the
marketplace – buyers and sellers that are actually involved in a
transaction today.(As
opposed to closings, which represent activity from weeks or months
ago.)When you really
want to read what is happening in the real estate market right now
then it is imperative to read the pendings, not the closings!
But don’t worry!This is only temporary.It’s happening because real estate is a market based on
emotion.
Buyers, sellers, agents, escrow and title
companies, inspectors, and appraisers are all sitting at home
watching the horrific images of people forced from their homes by
Hurricane Katrina.It’s
a natural ‘cause and effect’ situation for EVERYONE to stop andpause – whether you live in Boston or Dallas or Seattle.
Even if its thousands of miles away, people are
like ants.We follow the
pack.When the pack
slows down, we slow down.It’s a normal human reaction to be fearful in times of
disaster.
What every real estate agent should do right
now is contact their database to let them know that it’s perfectly
normal for the real estate market to slow down and take a breath
while this disaster unfolds and then begins to rebuild – almost in
honor of those people who are suffering so much.
Be the calm voice of real estate expertise that
tells your clients we are only in a ‘pause’ that will pick up again.Reassure them that once New Orleans is cleaned up, they will
move into a rebuilding phase and the national real estate market
will be stronger than ever before.
Denise Lones
Denise Lones CSP, MIRM The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”.
Denise’s background in residential real estate sales and management includes an impressive list of awards. Using custom marketing campaigns and business development systems she personally created, she was consistently among the highest producing Realtors® in a marketplace of 3,000+ agents. Denise was the only agent in the State of Washington to be awarded the esteemed MIRM designation – the top national achievement for new home marketing. In 2004, Denise was awarded the prestigious Hugh Hawkins Instructor of the Year Award by the Washington Association of Realtors.
As a columnist for isucceed.com, Realty Times, the National Association of Home Builders, and the Washington Association of Realtors, Denise has a strong “voice” in the real estate community.
Denise is a certified instructor for many prominent trade groups and educational institutions, including the Washington Association of Realtors, Master Builders Association, iSucceed.com, Washington State Department of Licensing, Windermere Real Estate, and the Washington State Housing and Finance Committee
With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
In a world of push-and-shove real estate
transactions, is it a wonder that the term “win-win” negotiations is
getting rusty?Lately,
I’ve been hearing a lot of “me-me-me.”
Well, I have a newsflash for you: Effective
negotiation is always “win-win.”
Your clients always win when you help them get
what they want.The
question is “How do I go about negotiating the correct way so that
all parties win?”Is
there such a thing, well of course there is.It isn’t win-win negotiating if someone gets gouged!
For example, let’s say you have a buyer who is
focused on spending the least amount of money.In “win-win” negotiating, your task is to help your client
understand the mindset of the seller.Take them down the “Seller Road” for a
little tour.It might
sound something like this:
“Mr. and
Mrs. Buyer, you’re about to put an offer in on this lovely house
that you absolutely adore.For one minute, I want you to imagine that you’re that
seller.If you were,
what offer would make you excited?Would it be a full-price offer?Or would it take an above-price offer to make you truly
happy?On the flip side,
what would you consider to be an insulting offer?Mr. and Mrs. Buyer, don’t you think it’s in your best
interests to make that seller happy and not insulted?”
This is “Win-Win” at its finest.You will never achieve a win-win result if you don’t take the
time to have your clients look at the big picture.Yes, the big picture, the one that includes the other side of
the transaction.To
truly help your clients get what they want you have to help them see
the danger of insulting the other side.Whatever side your client is on it is always in their best
interest to see the flip side of the negotiations.
If you went in thinking only about your side,
it comes across to the other side and forces them to push even
harder (unreasonably harder, in some cases) to get what they want.You hit a “psychological trigger” that sets off distrust and
makes the negotiations a war instead of a
deal.
When you appear to be fair and reasonable, you
avoid setting off the other side and come across as somebody that
they too want to help by creating a “win-win” atmosphere.
But what about when the other side is trying to
take advantage of you?
You sense they’re pushing too hard or trying to rip you off.When this happens, take heart.Adversarial negotiations will never get you what you want.By remembering this principle, you won’t set off your own
“psychological trigger” and fall into the trap of a frenzied power
play type of negotiation.
In this case:
Ask for more time.(Sometimes time mellows people.They may just need to sleep on your offer.)
Ask for advice using non-personal statements.It may look something like this.I really want my sellers to look at this offer from your
buyers.The challenge I
am having is that my sellers are now so insulted by the offer that I
can’t even get them to respond to your buyers offer.I would really appreciate any ideas you have because I am
stuck. Don’t be afraid to look weak, this is not weakness this is
working together with the other side to make it happen for both
buyer and seller.Not to
mention the fact that you now have the other agent wanting to look
good, remember this is an ego business and agents love to come
through for their clients, the other agent is no different.
Work together as a team and you have double the
negotiating power!!
Perhaps you’re in a fast market and you’re
finding yourself caught up in the real estate frenzy of “me-me-me”.In this case, using “win-win” will, in the long run, cement
your reputation as fair-minded and the real estate agent to go to in
a sea of sharks.
And most importantly in negotiation, if you
feel you’re being taken advantage of or forced into an uncomfortable
deal, employ the classic first rule of negotiation: WALK AWAY WITH
RESPECT.
There’s no shame in walking away from a bad
deal.In fact, sometimes
it’s the best way to get the deal moving.When the other side sees you’re walking because they’re being
unreasonable, often the “win-win” floodgates open and they begin to
see your issues more clearly.
One final negotiating tip: as in playing poker,
leave emotion at the door.Negotiations can be nail-biting, knuckle-pounding
nightmares…if you let them.Make a conscious effort to not take things personally and if
you feel things getting tense, postpone them.A little time is sometimes all that’s needed to clear your
head and refresh your focus to help your client get what they want.
And getting them what they want is what it’s
all about.When you do,
everybody wins.
Denise Lones
Denise Lones CSP, MIRM The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”.
Denise’s background in residential real estate sales and management includes an impressive list of awards. Using custom marketing campaigns and business development systems she personally created, she was consistently among the highest producing Realtors® in a marketplace of 3,000+ agents. Denise was the only agent in the State of Washington to be awarded the esteemed MIRM designation – the top national achievement for new home marketing. In 2004, Denise was awarded the prestigious Hugh Hawkins Instructor of the Year Award by the Washington Association of Realtors.
As a columnist for isucceed.com, Realty Times, the National Association of Home Builders, and the Washington Association of Realtors, Denise has a strong “voice” in the real estate community.
Denise is a certified instructor for many prominent trade groups and educational institutions, including the Washington Association of Realtors, Master Builders Association, iSucceed.com, Washington State Department of Licensing, Windermere Real Estate, and the Washington State Housing and Finance Committee
With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
Have you ever wondered why some real estate
agents who have never embraced technology are out there dominating
their marketplaces?
Meanwhile, you have every “gidget and gadget” out there, but you’re
still not selling as much as they are.
Have all these gadgets really helped you to
make more money?The
answer depends on how you use them.For example, do you really think your client cares if you
have a Palm Pilot?Or a
fancy laptop?Actually,
most sellers will tell you that they don’t prefer a listing
presentation done on a laptop.
Are your gadgets directly benefiting you or
your client?Potential
sellers aren’t going to race to sign the listing agreement just
because you tell them you have an All-in-One device with MLS listing
accessibility.On the
other hand, your private “Client Only” viewing area on your website
directly benefits them, helping you make more sales.
There are two extreme types of technology
people: Those who love it and those who hate it. You’ve got to get somewhere
in the middle.If you
spend too much time on the computer with your “gidgets and gadgets,”
then you’re having a love affair with technology and not with your
client base.
Today’s client—now more than ever—wants your
personal attention.They
are sick of bad service and want more from you than e-mails.The personal call, the package in the mail, and the
occasional “live” visit is what they crave.
Get off the computer and start building real
life relationships!
Techno-phobic real estate agents dominate their marketplaces with
their personalities.
They don’t embrace technology—they embrace their clients!
But in our techno-obsessed world, you can’t
survive without knowing what you do need.If you don’t use technology to your benefit, the marketplace
will leave you far behind.The solution is to take it one small step at a time.Do not go out and buy every latest and greatest invention.Think about what you really need rather than something that’s
just a techno toy.
For example, I am a technology instructor for
the Washington Association of Realtors.I am well versed in the latest applications of technology for
realtors, but I still use a good ol’ paper notepad instead of a Palm
Pilot.Why?Because I just love writing on paper and frankly, that
annoying screen tap dancing drove me nuts.Some people are shocked to find out that I am not completely
“wired” with gadgets.I
get by just fine, thank you very much.
However, the tools I wouldn’t be without are my
e-stationery, e-postcards, and my “Client Only” viewing area.My clients love to view things I send them by going directly
to a private viewing area rather than having me clog up their e-mail
with large files.This
is an example of a tool that genuinely helps clients.
The key to creating your technology plan is to
think about what tools will help you and what will directly benefit
and help your clients.
Discard the rest.
Examples of technology tools that help you are:
Palm Pilots
Laptop computers
Desktop computers
Contact management programs (such as ACT!
or Microsoft Outlook)
Microsoft Publisher!(for your flyers)
All-in-One devices with MLS listing
accessibility.
Examples of technology tools that help your
clients are:
Your website
Your “Client-Only” section on your website
Graphic design software that makes their
house look good
E-stationery and E-postcards that feature
their home
Regular real estate-related mailings sent
on a consistent basis.
(Yes, I consider this technology because of the resources you
need to successfully execute a regular mail campaign.)
The one technology item that people either love
or hate is the All-In-One device that combines your cell phone, Palm
Pilot, and connects to the MLS.Many agents are not big fans of it because it’s clunky,
complicated, and if you lose it—you lose everything all at once.
I would also avoid too much e-mail.People don’t love e-mail, especially photographs of houses
that take up a lot of space in their e-mail system.Instead, why not consider a link in your e-mailthat directs them to a web page where you have the pictures
of the houses for sale?
Whatever you do…consider your own personality.You know if you’re a techno-geek or a techno-phobe.If you’re a techno-geek, get off the computer and connect
with people.If you’re a
techno-phobe, take your time to master one gadget or program before
moving on to the next one.
As you adapt to technology, it is also
important to have fun!
Don’t try to master tools in a rush or when you need it most.Take it one small step at a time and never forget why you are
doing this—to increase your business and to improve your client
care.
Denise Lones
Denise Lones CSP, MIRM The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”.
Denise’s background in residential real estate sales and management includes an impressive list of awards. Using custom marketing campaigns and business development systems she personally created, she was consistently among the highest producing Realtors® in a marketplace of 3,000+ agents. Denise was the only agent in the State of Washington to be awarded the esteemed MIRM designation – the top national achievement for new home marketing. In 2004, Denise was awarded the prestigious Hugh Hawkins Instructor of the Year Award by the Washington Association of Realtors.
As a columnist for isucceed.com, Realty Times, the National Association of Home Builders, and the Washington Association of Realtors, Denise has a strong “voice” in the real estate community.
Denise is a certified instructor for many prominent trade groups and educational institutions, including the Washington Association of Realtors, Master Builders Association, iSucceed.com, Washington State Department of Licensing, Windermere Real Estate, and the Washington State Housing and Finance Committee
With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
Now—more than ever before—we live in a visual
society.From the “MTV
Generation” to today’s Internet obsession, getting noticed is all
about visuals—graphics, colors, designs, images, fonts, and
pictures.
Surprisingly, one industry is particularly
resistant to this trend.
Most of the people involved in this industry look exactly the same –
essentially carbon copies of each other, dull and boring.
Who are these behind-the-times cave-dwellers?Yep, you guessed it—our own real estate industry.
There isn’t a week that goes by that a real
estate agent doesn’t challenge me on the topic of whether or not
they should put their photo on their business card.Now, I understand that few other professions do this, but in
what other profession is there as much competition as there is in
real estate?
It seems like everyone you know is getting
their real estate license—your neighbors, your friends, your
associates—jumping into the market thinking it’s an endless pot of
gold.To win business in
this vast ocean of competition, you’d better have something to set
you apart.And real
estate—more than any other profession— does a terrible
job of visual marketing.
Visual marketing can be as simple as a color, a
design, a theme or even a font.When people see it, they automatically think of you.Truly great visual marketing is when they don’t even need to
see the entire picture—they see a fraction of it and recognize you
instantly.
The other day, I was shopping in Safeway and a
particular font caught my eye.I immediately thought to myself: “What is the Boeing
Employees’ Credit Union doing inside of Safeway?”Before I even read the banner, I knew who it was.Now, THAT’s good visual marketing.
Who else does a great job of visual marketing?McDonald’s. You see
the big yellow “M” and who do you automatically think of?Starbucks has done an incredible job with their visual
marketing.No matter
what city you’re in, when you see the Starbucks symbol, a flash of
recognition lights up in your head.
A common myth of visual marketing is that it
has to be an incredibly stunning image.True, this doesn’t hurt, but it doesn’t have to be the best
nor the most attractive.
It simply has to be consistent and different.
So, take a second and ask yourself
right now… “What is it about my business that makes me visually
stand out?” For a moment, forget the fact that you’re the best agent
in town.Think visually.
Now, look at the top and bottom of my e-mail.See my zebra stripes?I’m at the point now where I don’t even have to put my name
on a piece of paper.If
I simply have a zebra stripe, chances are people know it’s me.
Denise Lones
Denise Lones CSP, MIRM The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”.
Denise’s background in residential real estate sales and management includes an impressive list of awards. Using custom marketing campaigns and business development systems she personally created, she was consistently among the highest producing Realtors® in a marketplace of 3,000+ agents. Denise was the only agent in the State of Washington to be awarded the esteemed MIRM designation – the top national achievement for new home marketing. In 2004, Denise was awarded the prestigious Hugh Hawkins Instructor of the Year Award by the Washington Association of Realtors.
As a columnist for isucceed.com, Realty Times, the National Association of Home Builders, and the Washington Association of Realtors, Denise has a strong “voice” in the real estate community.
Denise is a certified instructor for many prominent trade groups and educational institutions, including the Washington Association of Realtors, Master Builders Association, iSucceed.com, Washington State Department of Licensing, Windermere Real Estate, and the Washington State Housing and Finance Committee
With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
Do you sometimes feel like you’re spinning your
wheels and going nowhere?You’ve been doing everything you’re supposed to do to market
your business but no matter how hard you work at getting your name
out there, the phone is just NOT ringing.
I was thinking about this the other day while I
was in the hospital.A
back injury I suffered in an accident a few years ago flared up last
week while I was on the way to teach a class and I drove myself to
the nearest emergency room.
As part of my recovery, I was told to go to a
medical massage clinic.
My local spa recommended a place and I immediately recognized it
from having heard people talk about it and from seeing their ads
myself.
I didn’t have the energy or time to research
medical massage clinics.
The fact that I had heard and seen this name three times over the
past two years made me call them and say “Hi, I need to book some
appointments.”
I didn’t even ask them about their services.Their marketing had me already pre-sold.To them, I’m the perfect marketing-recruited client.Just sign me up.
Their marketing didn’t start yesterday or the
day I was flat on my back in pain.Their marketing has been ongoing for years.They didn’t know I would need them.Heck, I didn’t know I would need them.What would have happened if they hadn’t seen results from
their initial marketing campaign and closed their doors?They would have missed out on a lot of business because
people don’t think about them until they are in pain.
When a Real Estate agent’s clients decide that
they need services—either buying or selling—they are no different
than a Denise Lones who is in a heck of a lot of back pain.
The bottom line is I had a pain I needed to get
rid of.Mine is back
pain.A seller has
pain—they need to sell their house for as much money as they can
get.A buyer has
pain—the pain of searching for their perfect home while being
desperately afraid of making a mistake.
In life, pain hits at unexpected times.This time last month, I had no idea I would be signing up for
extensive massage therapy.Likewise, there are hundreds of people in your area who are
getting hit with some kind of real estate pain today—pain that they
didn’t know was coming and which you can solve for them.
Your marketing efforts, no matter how bad they
seem at any moment, are not futile.You, much like the massage clinic, are a pain-solver.Keep plugging forward with your marketing and remember that
when pain strikes—today, tomorrow, or six months from now—people
will call you if they remember your name and your marketing.
Denise Lones
Denise Lones CSP, MIRM The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”.
Denise’s background in residential real estate sales and management includes an impressive list of awards. Using custom marketing campaigns and business development systems she personally created, she was consistently among the highest producing Realtors® in a marketplace of 3,000+ agents. Denise was the only agent in the State of Washington to be awarded the esteemed MIRM designation – the top national achievement for new home marketing. In 2004, Denise was awarded the prestigious Hugh Hawkins Instructor of the Year Award by the Washington Association of Realtors.
As a columnist for isucceed.com, Realty Times, the National Association of Home Builders, and the Washington Association of Realtors, Denise has a strong “voice” in the real estate community.
Denise is a certified instructor for many prominent trade groups and educational institutions, including the Washington Association of Realtors, Master Builders Association, iSucceed.com, Washington State Department of Licensing, Windermere Real Estate, and the Washington State Housing and Finance Committee
With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
The Three Most Important Words In Real Estate Marketing
We’ve all heard the tired old saying “The three
most important words in real estate are location, location,
location.”But if you
truly want to make a six-figure real estate income, the words
“database, database, database” are synonymous with your success.Your database is your own personal goldmine.
The average real estate agent meets over five
hundred new people per month.Of those five hundred, they add only five of those people to
their database.
That’s right…only five!
I hope this doesn’t describe you.If so, it’s time to get serious and grow your database.
So where do you begin?Whether you have one person or a thousand on your list, it
isn’t the size of your database that counts it’s the quality of your
database that counts.
Put only those people you’ve actually talked to
or met in person on your list.People remember other people by eye-to-eye communication,
hearing them speak, or talking to them.You might meet them at a networking event, at the dentist’s
office, or even at the beach.
(The only time you want to add strangers to
your database is when you’re building an on-line internet newsletter
where people are “opting-in” to get your information.)
If somebody hands you their business card,
they’re saying “Get to know me.”So, get to know them!Send a little handwritten note that says “Great talking with
you today.I’ll send you
out some real estate information from time to time.”
If somebody calls to ask you a question, do not
just answer their question and hang up the phone.Create a genuine connection with them using your people
skills and get their name and contact information.Another name for your database…just like that.
And don’t worry about irritating people with
your information.Trust
me, if they don’t want it, they’ll let you know.
The keys to success in working with your
database are:
TRACK YOUR DATABASE.
Your database should be growing.Every week, check your numbers.If you’re not getting results, you’re not putting enough
people into your database.You are missing out on future potential business.
CREATE A PLAN THAT YOU NEVER HAVE TO THINK ABOUT AGAIN.
Your business should have an annual marketing
plan designed to service your potential clients, current clients,
and future clients.This
should include AT LEAST a monthly mailer that you send out to them.
(WARNING: Don’t design a marketing plan based
entirely on e-mail.The
low cost may be tempting, but people today do not want inboxes full
of irrelevant e-mail.)
CALL TO ACTION.
Make sure within everything you send out you
include what marketers refer to as a “call to action”.This is simply asking your client to do something.It can be as simple as “Call me if you have any questions” or
“Go to my website for a free article on selling your home”.
It may seem daunting at first, but in time your
success will be a direct result of your attention to your database.Treat it well and it will treat you well.
Denise Lones
Denise Lones CSP, MIRM The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”.
Denise’s background in residential real estate sales and management includes an impressive list of awards. Using custom marketing campaigns and business development systems she personally created, she was consistently among the highest producing Realtors® in a marketplace of 3,000+ agents. Denise was the only agent in the State of Washington to be awarded the esteemed MIRM designation – the top national achievement for new home marketing. In 2004, Denise was awarded the prestigious Hugh Hawkins Instructor of the Year Award by the Washington Association of Realtors.
As a columnist for isucceed.com, Realty Times, the National Association of Home Builders, and the Washington Association of Realtors, Denise has a strong “voice” in the real estate community.
Denise is a certified instructor for many prominent trade groups and educational institutions, including the Washington Association of Realtors, Master Builders Association, iSucceed.com, Washington State Department of Licensing, Windermere Real Estate, and the Washington State Housing and Finance Committee
With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
Join Denise Lones each week as she looks at the world of real estate and the world at large from customer service to the importance of listing presentations in a one-on-one style. Denise has more than 20 years of experience as a successful agent, broker, trainer and coach. Denise is someone in the know when it comes to real estate.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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