As you might know, I am in a unique situation, as my husband is my business partner.  If you've ever been part of a sales team, you know that different folks on the team have their strengths, and thereby their "role" on the team. 

In a conversation with Brad Andersohn yesterday, I was pleased to find that we share a similar business development strategy: "It's Karma, if I help you grow your business, you will help me grow mine!"

With this in mind, several years ago I DEVELOPED A TEST that gives me insight about the person I'm talking to, and gives them insight as to "HOW" Steve and I work together as an originations team.

I've literally asked hundreds of people these questions, and I thought it would be fun for the people here to take the test!

1234

Okay - So the premise is this...  I believe that each sale can be broken down into 4 parts. Since it amuses me to think of us as "Horse Traders" let's look at the sale from that perspective.  If we were selling a horse, the first part would be:

1.  Getting the word out that we have a horse to sell. Advertising, cold calling, marketing

2.  The second part is when the phone rings...  Convincing someone (selling them) to purchase our horse, instead of Fred's horse down the road. (Choose ME as your agent!  Choose ME!)

3.  The third part is the PROCESS until we get the money.  Even with horses you don't just hand someone the money - you have blankets to gather, vets that need to take a look at it, paperwork that needs to be signed.  Alot of time - NOT SELLING - is spent in this part of the sales business... it's a double edged sword, the "Devil's In The Details!"

4.  After we've shipped the horse off to the new owner and have our money - we want to stay in contact with them to remind them we're in the horse trading business.  Afterall - most sales people (and horse traders) would rather rely on word of mouth than having to spend money on advertising or cold calling.

Now - rank you're favorite parts of the sale from 1 to 4.  I can tell you that most people say 2,3,4,1

Steve, my husband, takes care of numbers 2 and 3 in our business.  I'm a unique "bird" (notice I didn't say OLD!) in that I like number 1 and 4... which is probably why I like mentoring and "pushing" others to develop the natural successes we each posses.

Tell ya' what.  If you'll tell me what your rank is - I'll tell you what "tricks" I've learned that will help you grow your business (besides using an Award Winning Mortgage Origination Team!)

 
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28 Comments on Test Your Stengths

MAY
22
2008

Eleanor, That is a unique way of looking at it.  Good luck on your team.

10:27am • #1
279,638 Points 4 Featured Posts Localism Sponsor Outside Blog

OK Love this and would have to say I Love being the cold caller and the deal closer so I would be  a 1 , 2, 3 and and week 4

10:30am • #2
131,089 Points 10 Featured Posts Outside Blog

ERIC!  OMG!  Another 1!  Well - If you truly like the rain making part of the business, and 4 is the last part  - I would strongly recommend an assistant who can take some of the "manual" thank you note parts of the process off your hands.  Systems (check lists especially) and delegation are the best things I've found to maximize the efforts of this profile. 

Check lists allow you to perfect a "system" prior to handing it off to someone one else - especially if that person is part time - and if you are in the habit of using them - you will have a better "sense" that your marketing efforts are working as you designed them!  Good Selling!

10:48am • #3
135,224 Points 62 Featured Posts Outside Blog

 Hi Eleanor, I love how you think. Especially "After we've shipped the horse off to the new owner and have our money - we want to stay in contact with them"...

 To me that's the most important part of any transaction. People who are truly successful understand that the real payoff is in the strong, long term relationships we build. Excellent post!

11:25am • #4
305,992 Points 11 Featured Posts Localism Sponsor Outside Blog Hit Router

which is probably why I like mentoring and "pushing" others to develop the natural successes we each posses.

So THAT'S what you call it.....Great post, Eleanor and perfect way to break it all down!

2:20pm • #6
2 Featured Posts

4,4-1,4-2,4-3. Long term relationships of some way shape form have not only been the most enjoyable, they also seem to be the most lucrative. New contacts are generally fun to make, except for a few sticks in the mud, but they too can be cleaned off. Sales of any type is good sport. The process part, now more than ever is tedious and nerve racking. I hate the devil! So, what do you think? Liked the analogy! 

2:38pm • #7
131,089 Points 10 Featured Posts Outside Blog

Leesa... ME?? PUSH!?? (need to do Homebuyer Seminars... humph?  LOL!!)

Scott!  I would say that 90% of the time when I see someone who is 4 -4 -4 -4 -4 there's a couple of things going on.  Typically - they have someone close to them who was a great salesman growing up.  In my case it was my grandfather.  I have the news article from TIME Magazine on my desk where he was named TOP 10 FORD SALESMAN OF THE YEAR... I watched him be the first one at church and the last one to leave.  He understood the POWER of Networking!!  That's why I normally refer to folks who are 4's as those who are into "Old Sales."  It's that basic, "old school" TRUE salesman mentality.  What I've found is that you need to go to TONS of Rotary, Chamber, Bd meetings and ALWAYS take someone with you who is NOT in your company.  That will maximize the number of new contacts you make - and you can help network and introduce your Insurance Agent (for instance) to tons more people.  I use to own a fairly large company - the guys in your "profile" did REALLY well when they had a GREAT processor.  Here's what works:  Create a "system" where you have clients contact you.  Figure out what you THINK you are going to do with them (adjustable, fixed), schedule a time for a processor to take the app over the phone, print the docs and pull credit for you.  PAY THE PROCESSOR - IT'S WORTH IT.  This way - you can concentrate on what you're good at... NETWORKING!  You also need to have the contacts you make put into some automated system.  It can be as simple as sitting down every Sunday afternoon and entering contact info into your Outlook as a GROUP.  This way you can send out newsletters every month!

by the way... my #3 is on another page - hate it!  That's why Steve does that part!

3:29pm • #8
12 Featured Posts

I guess I am pretty wierd , I like 1,2,4,3....I purposely put the processing part last because I just hate doing paperwork, yes I know its vital and probably the most important step in doing a transaction, but come on I hate Stacking and Doing paperwork.  I always ask myself when doing something, "Is this making me money right now? Can I be doing something else to make money?" Maybe I am a true hard core sales person but I just love interacting with people.

7:44pm • #9

One two four and  three.  I am a rainmaker and I kind of can talk people into things but I am best at etting people there.

I can't wait to hear what you have to say

7:46pm • #10
162,283 Points 3 Featured Posts Localism Sponsor Outside Blog Hit Router

Eleanor, my order of enjoy more to enjoy less runs: 4,2,3,1...but truly the only one I dislike is cold calling on the phone.  I'd much rather meet people in person, whether via networking or walking a neighborhood (but people calling me--I seem to have no problem with).  I'm looking forward to the day when video calling is more common and I can feel more "in front" of people with that type of cold calling.

11:10pm • #11
3 Featured Posts

Eleanor,

Maybe I'm an oddball but it's 1423 for me. Interesting concept though.

11:40pm • #12
MAY
23
2008
131,089 Points 10 Featured Posts Outside Blog

Justin!  I'll tell you the same thing I mentioned earlier... my #3 is on another page.  I hate it.  It's a waste of time for me to concentrate my efforts there - with this in mind, I will tell you that you need systems, and you need to do a gut check.  For me personally, I hate getting the deal in the door, getting it almost done, and THEN something happens and I have to deliver bad news.  Many of the people I see with that kind of profile do not feel rejection or anxiety over making cold calls.  They love to walk into a room where no one knows them - but turn someone down, or tell a borrower it's not going to work like you thought it would (after getting that far in the process) and that becomes a SLOOOOOW No.  Slow No's will kill you in this business. I'm not saying YOU do that - it's a personal problem I have, and I've seen other people with similar issues.

The most successful LOs I've worked with had your profile - they were also control freaks - and so letting someone else help them was difficult.  If you do not have an assistant, consider it.  Decide what you can dish off to someone so that you are only doing the 2 or 3 things that MAKE MONEY!  The biggest mistake I've seen LO's make in hiring an assistant is that they wanted someone to do MORE of what THEY were doing.  That's not what you need.  You don't need someone to sell - you need someone to take apps, follow up on locks, research programs, and do the "manual" part of marketing.

9:45am • #13
131,089 Points 10 Featured Posts Outside Blog

Arleen!  Like Justin, you need a team approach... the agents I work with that have your profile are some of the best agents I know, however, there's a trick.  The "trick" is that between us (since my #3 is dead LAST too) we have GREAT ideas of how to grow business, but we have a devil of a time actually EXECUTING the ideas.  What I do during a brainstorming conversation with someone like you is to create action plan items.  Then we divide the actions up and schedule when we can get each piece done.  We hold each other accountable.  If you have an assistant, you would then take these "bite sized pieces" back to the assistant and mark on your calendar when they could be due (so you can follow up with the assistant).  Breaking tasks down to the bite sized pieces, and then having a system for getting those items done, is critical.  A virtual assistant, for the inspections, and entering the properties into the various systems, updating the Real Estate Book might be another great tool for you. 

Many times I talk to an agent who will tell me that they can not "afford" an assistant.  My response, honestly, is that if you can bring business in, you can not afford NOT to have an assistant.  "If you don't have one, you are one."  The critical piece to this is WHAT WILL THAT ASSISTANT DO?  That's why it's great to start with taking tasks down to the bite size, bullet points - then create checklists that even you can use, then use them, then "tweak them", THEN get an assistant for the tasks that are TIME KILLERS.

Hope this Helps!

9:55am • #14
131,089 Points 10 Featured Posts Outside Blog

Kent!  You have a very familiar profile!  Most people hate cold calling.  Your strength is obviously in networking - so my suggestion for you is 2 fold.  First take a different person with you each time you go to a networking event.  I try and schedule at least 4 "opportunites" to meet people each week (not direct sales calls).  By Thursday afternoon - I want to have them on my calender, and the person I'm taking with me already committed to going.  I do not allow myself to leave early - or knock off on Friday's until I have my appointments for the next week booked.  If you don't have that many "opportunites" - I recommend you consider MEETUP.com. (it's free).  I find that the most successful sales folks I know divide time between "cyber" and actually shaking hands.  Snail mail systems to drip and follow up with the small business folks you meet is, IMHO, also critical - not all people will look at an e - article or newsletter... lots of them do, but not all.  I would also suggest that you check out Leesa Finley's Blog (I like Jennifer Allen, and Mike Jones for the same reason).  Notice how she highlights events, and people in her area - it's a great service to the community, and creates a "name" for her in the little community she markets to.

10:09am • #15
131,089 Points 10 Featured Posts Outside Blog

Susan!  Wow!  Not an oddball - but I do have some suggestions.  Most of the people I know in this profile are great IDEA people (probably why you are also a gifted stager!).  You love to network and talk to people about your business - but when the phone rings, the pressure is really on!  I would recommend that you look for the interviews that Bill Hart has done with Building Champions.  I'm sure there are others - but you will get "scripting" ideas.  This will help you when going over listing agreements, and discussing your fees.  You need to say your "scripts" outload in the car.  Listen to them, repeat them, and write them down, so that when someone asks you a specific question about why they should do business with you, as opposed to someone else - you have it down!

10:20am • #16

ok I actually like that order...1,2,3,4.  However what I have actually been good at is another thing.  I struggle alot with 4 right now as I am busier than ever and just trying to maintain a good 3 right now in keeping things flowing through to closing because right now I am about to have a baby in 4 weeks or less hopefully. 

10:42am • #17
131,089 Points 10 Featured Posts Outside Blog

Naoma!  Many of the TOP producers I meet have a similar problem. I would recommend a "contact" system that is automated so that you can keep your past customers in the loop.  Many of the systems available to us cost less than $20 per contact and you can choose different letters and cards.  Do you use MGIC?  They have a company that they recommend, and offer it to LOs at a discount.  We use Calyx Point as our LOS, and upload information directly to them.  Staying in touch with your referral sources is going to be important for the next few months - and I suspect you have that part of the system well in hand.  Congratulations!

11:02am • #18
MAY
25
2008
139,430 Points 13 Featured Posts Outside Blog

Eleanor - Interesting. I'd have to go with 3, 4, 2, 1. How's that for different?

5:47pm • #19
MAY
26
2008
316,805 Points 45 Featured Posts Outside Blog

Hi Eleanor - this is an interesting post!  Hmmm, I definitely have #1 as last, but I'm having trouble actually ranking the others.  I guess I would say 2, 4, 3, 1.  I like the appointments when I meet people - buyer appointments and listing appointments - those are fun and challenging to me.  I'm great with the follow-up.  I have a great mailing campaign that lets me stay in touch with all my past clients and customers, plus I do some other things as well.  I get a lot of repeat business because of this, as well as referrals from those past clients.  Number 1 these days isn't really as low-ranked for me as it used to be. For a number of years now, I've put more and more of my efforts and energies into my online marketing - most I love because I can be creative with it, but some is a little bit like drudgery for me.

This was interesting to force me to think about this!
Ann

7:49am • #20
MAY
27
2008
131,089 Points 10 Featured Posts Outside Blog

Tom!  How cool is that?  My husband has the same profile you do!  In the mortgage side of the business - we typcially see this profile in folks like my husband, Steve, who have been in the business many years - and is referred most of his business.  He does the "happy dance" when he can figure out how to do a difficult deal (he's working on one now where the folks are on their 60 ft yaucht toolin' around the Bahamas and he can't reach them!), that no one else can do!  You must deliver EXCELLENT service, and I'll bet most of your business comes from referrals.!  One of the things I've noticed about folks with this profile is that they are "puzzle" people.  Either you are - or you're not.  You can't teach someone to like putting puzzles together!  With you're profile - I think a strong follow up system for folks you meet at networking events, and past clients, is important so you can "drip" on them!!  Do you have a newsletter??  Do you ask clients for referrals to their CPA?  I would, and I would tell them that you are going to send a copy of the HUD to the CPA for their files!

11:01am • #21
131,089 Points 10 Featured Posts Outside Blog

Ann!  That's GREAT!  Sounds like you've figured it out!  I normally call people with #2 as the first thing "new sales."  I don't refer to it because they are actually "NEW" to sales - I say that because it's like "old technology" vs "New Technology."  People with this profile generally are not afraid of competition (they love it) and they are not afraid to use technology to help them get ahead.  Databasing does not mean a Christmas Card list in an address book for these guys - it means a DATABASE!  Good Selling!

11:07am • #22
114,522 Points 9 Featured Posts Outside Blog

1, 4, 2, 3.

Great way to break it down, Eleanor. And thank you for your suggestion.

Hey...can you email me with the flipbook in the sig? I'd like to see how that works. Thanks.

12:02pm • #23
131,089 Points 10 Featured Posts Outside Blog

Joey!  This is why so many agents like to work with you!  You understand how to truly help them with their business because you "get" marketing!  You also have assistants, so that you don't get pulled down by the parts of the deal that are not making you much money (watching the pot!)  Congrats!

Sending you an email now with the other stuff.

12:27pm • #24
222,396 Points 12 Featured Posts Localism Sponsor Outside Blog

Eleanore,

It looks like you and Steve have a solid business plan in place.  In addition you really understand who is going to do what which enables you to work well as a team.  Keep up the good work!

2:13pm • #25
129,753 Points Outside Blog

If you are new to the business, to get the phone to ring you really need to do the 1, 2, 3 & 4 in that order in my opinion. Otherwise if you do the 2 how did you get the phone to ring without 1? But all great points. Other say the phone weighs 400 pounds and they do not answer it.? Well there you have it.

2:45pm • #26
12 Featured Posts

Hi Eleanor great analysis!!  You actually hit it spot on with me, I do need an assistant VERY SOON it seems like I always put my processing to the side and just focus on getting new business. You also hit it on the head about giving out slooow nooos, I again put it off to the side because it's not on my selling list.  I know im a wreck when it comes to getting organized but I am slowly working on that and been trying to emphasize new ideas to keep it balance.  Thanks for the enlightening refresher :)

11:34pm • #27
MAY
28
2008
131,089 Points 10 Featured Posts Outside Blog

Tracy and Susan!  Thanks for stopping by!  I appreciate your comments, and agree that it's important for everyone on the team to know their strengths... and Susan, you are right that it's difficult to get a business going if you don't market!! (however, that's not everyone's strong point.)

Justin!  I'm glad.  This also helps when you are talking to your referral partners, since it helps in assigning responsibilities to get ideas put into profitable action!

2:02pm • #28

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Eleanor Thorne 919-649-5057 Cary Mortgage Loans

Cary, NC

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First Financial Services, Inc

Address: 5565 Centerview Drive, Suite 101, Raleigh, NC, 27606

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