The Touch Stone -- Have You Trained Your Brain Wrong?

By
Services for Real Estate Pros with Real Estate Pipeline, Inc.

Let's start with a little story........

As a young boy, Tan had always heard of stories handed down by his father and his father's father of a magical rock that, when held by someone, would grant them any wish. It was called a 'touch stone'. A person would know they found the touch stone because the stone would be smooth and round...like a ball...and warm to the touch. And, as luck would have it, it was said to be along the shore of a small lake near the village where Tan grew up.

After hearing these stories for his entire life, Tan decided he was going to make it his mission to find this magical 'touch stone'. So, he started walking around the lake. Every stone he saw, he would pick up, feel it for warmth and visually inspect it for shape. If the stone didn't adhere to the physical attributes that Tan wanted, he would pitch the stone into the lake so he didn't have to worry about having to check it again. Over time, Tan had convinced himself that he knew instantly if a stone he had grabbed was the mythical touch stone or not just by what he saw and felt...and would immediately hurl the stone into the lake.

Days; Weeks; Months went by and Tan had cleared thousands of stones from the shore of the lake....picking up each one and then pitching it into the lake.

Finally, one one cold morning, Tan grabbed a stone that was warm to the touch. And the stone was round like a ball. And, at that moment......Tan pitched it into the lake.

So...the moral of the story is... Dont make assumptions based on what you think you know.

If Tan had gone about his quest with the idea that every stone that came across his hands was the touch stone, he would have known immediately that he had found the stone when he came across it. Instead, Tan had trained himself into thinking that every stone he found was not the one he wanted...and by pure instinct and practice, threw them all away...including the one he really wanted.

According to NAR, only 7% of ALL clients that indicate they want to buy a home actually are interested in buying right now....a "HOT" lead, in other words. (In case your math skills are lacking...that means that 93% of ALL clients are going to be buying or selling outside of 30 days!!) And, that is also true for internet leads. NAR also states that less than half of all internet leads are actually contacted by an agent. Less than half...

Agents have to re-learn. Agents have to re-group. Agents have to retrain themselves.

Instead of viewing every internet lead like a rock...treat it like gold. Treat every lead like it is the best lead you have ever had. Follow up with the client diligently, timely, and with respect. Give them the information they require when they require it and work hard to make yourself THE resource that the lead thinks of when they need something. Do this every time. Without fail. Every time.

Why would you do this, you ask? Why would you spend so much time working on something that might take months to get to a closing rather than looking for something that will close in a shorter amount of time??

Well...aside from just being good business, the main reason is to train yourself...to train your mental and physical reactions so that, when you do grab that ball-shaped stone that is warm to the touch, you don't automatically toss it into the lake because that is all you know to do with it...because that is all you have practiced. It is all you know.

Make sense yet???

 

If you would like more information on how I can help you find that touch stone, please contact me on Facebook. And, if you are on Twitter, you can connect with Clint there also.

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Re-Blogged 1 time:

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  1. Pat & Wayne Harriman 08/08/2011 10:33 AM
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Ambassador
4,371,126
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Clint- glad you're back! and.. yes it makes sense.  What you said about not prejudging is so true for all of us in every thing we do.  And we all get caught up in doing that.  We can't just assume and cast off what we think we know as being the truth.  

Aug 08, 2011 08:02 AM #1
Rainmaker
189,766
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Hi Kathy! Im happy to be back also. ;-) Pre-judging things based on what is given to you without verification is the devil. Happy to see you again!! Looking forward to more... ;-)

Aug 08, 2011 08:06 AM #2
Rainmaker
182,162
Sara Bonert
Zillow - Atlanta, GA
Real Estate Internet Marketing

At the beginning of this story I thought.... sounds like how many agents treat leads... then I got to the end! :) 

While I get that the internet contacts who are going to close in a month are not just great leads but GOLDEN ones, they are unfortunatley few and far between in this market climate.  Doing at least something with every lead is so important because then one is truly building a long term business, meaning that you'll always have clients in different parts of your sales funnel (i.e. closing in 3 months, 12 months, 24 months).

I am sort of reminded of something that Ben Kinney said at a Raincamp one time where he had paid some service (don't remember who) that generated a list of leads for him.  He said very few closed and he ended up canceling the service.  Then one day a few years later he found the list and mass emailed them, just to check in - and it turned out to be one of the most profitable things he'd ever done.  Imagine if he had been massaging them all along!

One last point of converstation that I am seeing now in the way of lead cultivating is that we are seeing an increasing amount of Rental leads come through - again, a sign of the times.  Very often agents say that they don't like these types of leads, so they go ignored.  I know that these too aren't an agent's ideal 'touch stone', but they could be one day.  And in the meantime, there may be some money or goodwill to be had by referring them out. 

Great post!

Aug 08, 2011 08:11 AM #3
Rainmaker
189,766
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Sara!! Sooo happy to see you on here! ;-)

I know, right? Thats what brought me to the story in the first place. We have the same thing here. But, they are exactly that...few and far between. It is that example of key follow up and continual contact that makes for a good lead gen stream.

Growing a garden isnt just planting seeds. It takes work..water..weeding..cultivation..care. You cant plant a seed and eat a watermelon in a day.

Thanks! So glad you liked it. ;-) And, thank you for the RT love on Twitter! Happy to have you in my corner there also. ;-)

Aug 08, 2011 08:13 AM #4
Rainmaker
658,598
Pat & Wayne Harriman
Harriman Real Estate, LLC (203) 672-4499 - Wallingford, CT
Broker/Owners, Wallingford CT Real Estate

"Instead of viewing every internet lead like a rock...treat it like gold. Treat every lead like it is the best lead you have ever had. Follow up with the client diligently, timely, and with respect. Give them the information they require when they require it and work hard to make yourself THE resource that the lead thinks of when they need something. Do this every time. Without fail. Every time."

You mean there are agents out there who don't do this?? Please Clint, tell me it ain't so! Well done, as usual!

Aug 08, 2011 10:28 AM #5
Rainmaker
189,766
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Hey guys.... Yeah...sadly, there are people out there that still think that the only deal worth working is the one that will close in a day...or a week. Lack of forward thinking and cultivation skills is something I come across every day in my biz. Sad, really....

And...thanks for the compliment. ;-) Forgot to add that part to the original comment...I suck. ;-)

Aug 08, 2011 10:31 AM #6
Rainmaker
658,598
Pat & Wayne Harriman
Harriman Real Estate, LLC (203) 672-4499 - Wallingford, CT
Broker/Owners, Wallingford CT Real Estate

No sweat, dude. Reblogged and suggested.

Aug 08, 2011 10:37 AM #7
Rainmaker
189,766
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

You guys rock so hard. ;-) Thanks!

Aug 08, 2011 10:49 AM #8
Rainmaker
282,719
Mike Reyman
Berkshire Hathaway HomeServices Fox & Roach Realtors - Media, PA
Delaware County Real Estate

Great story and one that I agree with wholeheartedly.  Every lead I get through my website is very important to me and I try to treat each one with urgency.  You never know WHICH 7% are the REAL HOT ones!   Thanks for the post.

Aug 09, 2011 02:13 AM #9
Rainmaker
189,766
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Mike -- Thank you! And, you are dead on accurate, my friend. EVERY lead needs worked. Even Mickey Mouse answers the phone sometimes. ;-)

Aug 09, 2011 03:24 AM #10
Rainmaker
262,382
Dawn Crawley
Dawn Crawley Realty - Pinehurst, NC
Find Pinehurst Homes

Nice article, Clint. My buyers are usually a year or more away from buying. I it always surprises me how many agents don't respond to leads and inquiries.

Aug 19, 2011 03:55 AM #11
Rainer
92,111
Kathy Kenney
Keller Williams, Princeton, NJ - Robbinsville, NJ
Realtor - Princeton & Central NJ Homes for Sale

Great post, Clint!  And sooooo true!

Aug 19, 2011 03:55 AM #12
Rainmaker
189,766
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Dawn -- It amazes me how much money is left on the table by agents simply being to lazy to do something. Kills me daily.

Kathy -- Thank you! :-)

Aug 19, 2011 04:09 AM #13
Anonymous
Pamela Meyer

Clint,  I am new to following you - I remind myself often - to treat each lead like gold - am amazed to hear about people who don't get call backs from agents - and the consumer thinks it is because they are not looking in a high enough price range.  Even those $40k condo buyers have a sphere...and as long as we do our best - they usually talk to their friends.  I picked up a floor call - young investor buyer $40-45k - fix and flip - we did 3 transactions before he decided to get licensed, all within 7 months - AND he doesn't want to do "retail" sales - so will send those my way...all because I followed up and didn't discount him based on the price range he wanted.

Aug 21, 2011 10:19 AM #14
Anonymous
Pamela Meyer, NavigateDenverHomes.com(Keller Williams Denver Tec

I thought I'd add the detail to my name...

Aug 21, 2011 10:21 AM #15
Rainmaker
189,766
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Pamela -- It's amazing how much money agents walk away from because they do not think that working with one person or another is 'worth it'...or whatever the excuse. Good job keeping your client's best interests at heart. It will reward you every time.

Aug 22, 2011 03:06 AM #16
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Clint Miller

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