real estate coaching: Agents as Timekeepers, Cheerleaders, and Coaches - 08/14/09 11:16 AM
As we pointed out recently, the first time homebuyers credit is winding down and it's our job to make sure that clients who are ready to buy beat the clock.  As it happens, there are several things in play that could throw off the timing.  New regulations regarding mortgage disclosures and appraisals are adding time and cost to the sales process.
The new alphabet soup regulations - HERA, HVCC, and HOEPA - have all been put in place to prevent some of the abuses that led to the mortgage meltdown and trapped many buyers in loans they did not understand.  The … (0 comments)

real estate coaching: Agents Will Be Winners Too With the First Time Homebuyers' Credit - 08/12/09 01:58 PM
On December 1st, 2009, some potential homebuyers are going to wake up real happy.  Others will feel a sense of loss. As agents, we should be on the happy side of the bed, knowing that we either made a sale or earned a future client.
The $8,000 first time homebuyers' credit is set to expire November 30, 2009.  Buyers who took advantage of it can anticipate $8,000 from Uncle Sam.  Those who passed it by will know they missed a great chance to reduce the cost of their housing.
As Realtors®, we ought to be promoting this credit with all we've … (0 comments)

real estate coaching: Shed the Manager Role and Become a Leader - 08/10/09 12:29 PM
But, what is a leader, really? Here are five characteristics you need to develop before you can be a true leader:
1. A visionary. While managers handle the day-to-day chores of a business, leaders have 20/20 vision and a bird's-eye view on industry indicators and market trends to see where their businesses are going in the next six months to one year.
2. A planner. Leaders are able to take what they see from that bird's-eye view and translate it into a business plan that reflects market conditions and gets results. By December of this year, they have all of next … (3 comments)

real estate coaching: More Interesting Stats from the NAR - 08/07/09 03:26 PM
The new NAR study is 84 pages long.  Some of the highlights are tantalizing, in part because of how they are worded in the press.
50% of Realtors are affiliated with an independent, non-franchised brokerage. This also means 50% work for the big guys.  Buyers have a choice of what kind of firm they want to patronize.
Realtors are affiliated with firms having a median of 23 brokers and agents.  This figure hides the small brokerages in the mix, who might comprise the 50% of agen s who work for independents.
The average number of years of experience is 10. It … (8 comments)

real estate coaching: Are School Bells Ringing for You? - 08/05/09 11:03 PM
It's hard to believe but summer is winding down.  You might still have a family vacation planned, and depending where you are, you may have a lot of heat ahead of you.  But if you ask any school aged child (or any parent of one) summer is ready to transition into Fall before you know it.
With the start of school eminent, it is timely to look at recent NAR statistics on Realtor® education. 
35% of Realtors hold a minimum of one professional designation, up 3% from last year. 20% have a GRI (Graduate, Realtor Institute), 13% have a ABR (Accredited … (4 comments)

real estate coaching: Who Is Your Realtor? - 08/03/09 01:35 AM
According to a recent National Association of Realtors survey, your Realtor® is statistically likely to be a 54 year old college educated woman who owns her own home, has no other job, is likely be the only wage earner in the house, has no benefits through her firm, and is coping with decreased wages and the need to cut expenses.  Her income is likely to be around $37,000 though might be about $54,000 if she has had 16 or more years experience.  About 27% said it was uncertain if they would remain in the field at least two more years.
This … (3 comments)

real estate coaching: Would You Like Attitude with Those Fries? - 07/29/09 07:31 AM
A friend of mine lived near a Popeye's Restaurant where the food was great, but the drive through clerks were surly and the food was never ready.  They never caught unto the fact that people wanted buckets of fried chicken on Sunday after church.  This was so predictable that if you got in line with four cars ahead of you on Sunday afternoon, you could be assured that there'd be no chicken ready by the time you got to the head of the line.  (It would be 30 minutes till the next batch was ready.)  Many times they would be out … (7 comments)

real estate coaching: Good Management or Just Cutting Corners - 07/27/09 04:13 AM
If you want to see the concept of cutting corners in action, watch how people make left turns.  Few people make 90 degree turns. Truck & buses make wide turns, maybe 120 degrees.  Especially if driver in the opposite lane are fully not pulled up to the light, turning drivers tend cross over the lane.  In fast, the farther back from the light the cars are, the narrower the angle of the turn.  I used to say, "If I'd been at the light, they would have knocked of my fender."  In reality, turning drivers adjust to where the opposing cars are, … (7 comments)

real estate coaching: An “I” in Communication - 07/25/09 01:31 AM
There's no "I" in team, but there is in communication.  That means if you're leading a team, you're the one in charge of communicating.  I've been asked many times what it takes to keep a team happy, motivated and working together.  The answer is simply communication.
It's odd, isn't it?  Aside from in-person contact, we have cell phones with internet access, email,intranets, websites, U.S. mail, and the good old phone, yet poor communication is often an issue. Using one of these simple tool to keep our team informed is easy but can have a big impact.
For additional information and guidance on this topic … (2 comments)

real estate coaching: Tick Tock - Buyers Must Act Quickly to Assure Homebuyer's Credit - 07/21/09 03:34 PM
There is a lot of talk that the first time $8,000 homebuyer's credit may be extended and even expanded to reach more covers.  At this point, talk is cheap.  With the credit expiring on November 30, buyers who are not in the process of home buying may be left out.   It takes an average of 45 days to close a house.  That means that buying decisions must be made by October 15 to assure that the deadline is met.
As Realtors®, we can't force people into making major buying decisions like buying a home.  We can, however, counsel our clients to strongly consider … (2 comments)

real estate coaching: Watch What I Do, Not What I Say - 07/18/09 02:19 AM
Believe me, I know that "teaching" and "showing" clients works much better than "telling" them. I've seen my own clients - Real Estate Agents who became "teachers" in their business. Amanda Howard, one of my clients in Huntsville, Alabama, has shifted her approach with prospective sellers and buyers. Amanda and her team now focus on learning what their clients need to know to be successful in buying and selling, and then teaching the clients to empower them to have a successful sale or purchase of their properties. By becoming educators and teachers to their clients, Amanda and her team are turning … (3 comments)

real estate coaching: Realtors® as Master Teachers: Dazzle Your Clients with Your Expertise - 07/17/09 12:53 PM
The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires." William Arthur Ward
Bob, why are you explaining what makes a good teacher? We're real estate agents here. Hello!
Good question. And here's my answer: In these times, if you're not teaching prospective clients, you're losing the game of real estate - and the score isn't even close.
My goal with this article is simple: To get you to be a great teacher so you will inspire people to use your services. Wouldn't it be great if a client came up to you and said … (4 comments)

real estate coaching: Achieving Personal Management Gives You Time PLUS... - 07/15/09 02:04 AM
The last couple days, we have thrown it out there that time management issues may really be personal management issues.  What are the benefits of personal management?  You'll have more time when you streamline! Breaking it down even further, you'll have more benefits too, such as:
More self-confidence because you have done it.
A better work-life balance because you can do what you want, when you want, how you want.
Stress relief because you act not react.
Emotional security because you take control.
Quality of life because you choose.
Higher mental and physical fitness because you have time to exercise, read, … (2 comments)

real estate coaching: Separating the Forest from the Trees - 07/14/09 07:38 AM
Yesterday we talked about how time management is often a matter of personal management.  The implication was that if you don't manage your time right and let circumstances constantly get you off track, you may feel disappointed  in yourself and frustrated that you were not in control. Sometimes that feeling might not even be justified, but you may feel that way anyway.
After talking to yourself firmly and evaluating why time always runs out, you can take a look at the many sources of help today that range from buying a self help book, to investing in a system, to taking … (2 comments)

real estate coaching: Thar's gold in them there hills - 07/06/09 08:42 AM
In 1849, prospectors hoped to become rich by striking gold.  "Thar's gold in them there hills"  was their mission statement.  Who knows whether anyone outside of a Saturday afternoon B movie ever said those exact words but they mined the hills in hopes.
Lead generation is crucial to real estate.  New business seldom falls from the sky; instead, it has to be mined in the hopes that sales will come from a few leads  When leads come in, there is a certain amount of processing and pre-qualifying to do that may result in the person saying, "I want to buy a … (2 comments)

real estate coaching: Live to Work or Work to Live? - 07/06/09 03:01 AM
I hope you all had a great holiday weekend.  Blogging and work was put aside a bit for family.  As it happens, this a perfect tie in to my blog topic today.
As important as work is on so many levels, it has to be in balance with the rest of your life.  Do you live to work or work to live?
Does your job or business demand that you be accessible 24/7?  In an era of ubiquitous cell phones, pagers, Blackberrys and WiFi internet access, it is easy to keep in touch with the office from anywhere.  No doubt, many of … (16 comments)

real estate coaching: Brand Your Strength - 07/03/09 02:28 AM
When I work with clients to help them develop their professional identities, I like to use the SWOT analysis - Strengths, Weaknesses, Opportunities, and Threats. For purposes of this article, focus primarily on the first two: your strengths and weakness. Then later you can look at the other two as they relate to your particular market.Assess both your strengths and weaknesses carefully. And recruit others for this exercise. Find out what your friends, family and coworkers see. Many times others see things you miss.Then develop specific ways to put your strengths to work in your business life. And look at the … (3 comments)

real estate coaching: Your Professional Identity is your Designer Label - 07/02/09 11:25 AM
Branding is a big deal in business. Companies spend loads of money to make their brand identifiable and write more big checks to make sure that some else isn't labeling their own stuff with the company brand. The company wants to make sure that their quality is behind the label.
I think of this every time I see designer goods listed on eBay.  There are Louis Vuitton or Gucci bags listed there, some for slightly less than retail and some for a fraction of the price.  Some buyers rush to win bids on low priced items that prove to be fake.  Ironically, … (4 comments)

real estate coaching: Study the Real Estate Masters - and Make Yourself One - 07/01/09 01:09 PM
Consider for a minute what you think - what you really think - when you hear about an agent that's outselling you in your market. Be honest. Probably a little bit of jealousy, sprinkled with a little resentment.
Well, the way I see it, you have a couple of choices. You can feel that jealousy (and there's nothing wrong with that - you're only human). But if you leave it at that, you don't improve. You sit there with your sour grapes.
The other choice is to stop and take a little time to learn from those successful competitors. When you … (0 comments)

real estate coaching: Why Some Agents Sell More Than You - 06/30/09 06:55 AM
"I began wearing hats as a young lawyer because it helped me to establish my professional identity. Before that, whenever I was at a meeting, someone would ask me to get coffee." Bella AbzugWith all due respect to Abraham Lincoln, all real estate agents are not created equal.
Now before you get mad at me, hear me out. I'm not saying it's a bad thing that agents are unequal. It's just the way I see it. For example, if you judge agents by how many houses they sell, they are clearly not equal. Not every agent sells 100 houses a year.

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Bob Corcoran

Swansea, IL

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