agent advice

Do You Have a “To-Don’t” List?

What you don’t do may be as important as what you do.

Some ideas are so good we wish we could take the credit for them. Unfortunately, we can’t call this one original, so our hats go off to Tom Peters for first introducing this concept this way and Daniel Pink for introducing us to Tom.

A “to don’t” list is “an inventory of behaviors that sap energy, divert attention, and ought to be avoided. You know, those things which keep you from executing your best ideas. The little things (or even big things) that block your from following up on your best intentions. Daniel Pink reports he keeps a list of these activities tacked above his desk.

What keeps you from focusing on your best ideas? Is it too much time on Facebook? Tracking a fantasy sports team online? Reading trashy magazines? Sometimes pursuing “too many good ideas” is something that deserves to be on a to-don’t list. Pick the best and stick to them… don’t chase every shiny new idea you come up with.

Make a to-don’t list. Write them down. Keep them handy. They’ll help you focus on the to-dos in your life.

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agent advice

On Endurability in Real Estate

“As far as I can tell, the decisive factor is what I call endurability: that is, the ability to deal effectively with uncertainty, rejection, and disappointment, from within as well as from without.”

–Ted Solotartoff, (American writer, editor & literary critic, 1928 – 2008)

The other day someone asked me what single quality separated successful entrepreneurs from those who had called it quits. “Aside from a big trust fund,” I said, “it has to be attitude.”

But as I reflected on my answer later in the day, it occurred to me I should have been more specific. It’s not just a positive attitude that separates the successful from the frustrated– it’s the magic quality of endurability.

Endurability is peculiar. It’s not composed of simple-minded “sunshine all the time” positive attitude. It’s a curious blend of optimism, thick skin, stubborn dedication, and even, at time, willful self-deception. The hero of many a success story in business is a person who refused to listen to people tell them they were crazy. It’s not quite playing the violin on the deck of the Titanic, but it does have that ability to maintain professionalism in the face of pending doom.

Most of all, though, endurability is the ability to persevere in the face of personal doubt. For one to truly endure a challenge, it must be possible to hold in mind the possibility of failure while working with every available resource in order to succeed. You must maintain faith in your abilities even though you often work without reward.

Endurability is essential in real estate. How many new agents do you know who were told they were crazy for pursuing a real estate career in the midst of a meltdown? How many agents have you seen give up their real estate dreams too soon? How many times have you had to put on a brave face after a tough client meeting?

I have seen people succeed through sheer force of will. Endurability, given time, is almost always a core component of success. Everything can change for the positive at any moment. Endurability ensures you are there when your luck finds its way to you.

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agent advice

Getting More than a Good Reference

Maintaining References and Encouraging Testimonials.

Thursday Bram (what an unforgettable name!) recently published a valuable refresher on the value of maintaining references and testimonials. While half of the article discusses your need to have good references (especially when maintaining good business and credit terms with vendors), the real gem in the article is the section on testimonials and making use of online references.

Some quotes from the article include:

“Testimonials must also be timely: always be collecting is a good process. If you’re using a testimonial that’s several years old and a client or vendor finds out, it’s very easy for them to ask if you haven’t done anything worthy of a testimonial in the last year.”

and:

“If your customers, as well as the other companies you work with, are particularly impressed with your abilities, ask them to make those comments online.”

Check out Ms. Bram’s article here:
http://bit.ly/bg1saE

Also, on the topic of testimonials, we recently featured an agent (Tim Kindem) who takes a solid approach to making sure clients have a massive selection of proof-positive testimonials. You can read how he does it, complete with links and examples here:

How to Use Testimonials:
http://www.FHFREA.org/how-to-use-testimonials/

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agent advice

5 Fatal Career Flaws to Avoid

These flaws put your potential prosperity at severe risk!

In Jack Zenger and Joe Folkman’s book, “The Extraordinary Leader: Turning good managers into great leaders,” researchers identified five “fatal flaws” which were effectively “success killers.”

In contrast to areas where professionals had “allowable weaknesses” (i.e. deficiencies in skills which could be avoided or overshadowed by other strengths), these five weaknesses were considered absolutely toxic to a successful career.

The flaws included:

1. Lack of initiative
2. Lack of accountability
3. Lack of openness to new or different ideas
4. Lack of core interpersonal skills or competencies
5. Inability to learn from mistakes

Are you guilty of any of these? It’s interesting to note that these five flaws are generally organized around inactivity as a result of FEAR. For example:

1. Lack of initiative = fear of making a wrong decision (fear of mistakes)
2. Lack of accountability = fear we’ll have to face our own laziness or inactivity
3. Lack of openness to new ideas = fear we won’t be able to adapt, or we’re being “left behind”
4. Lack of core interpersonal skills = fear of social interaction, fear of low self-esteem
5. Inability to learn from mistakes = fear of change

To overcome these fears, we have to transform them into hope. Understanding that growth comes from adversity, it helps to frame our fears as undernourished hope for change and prosperity. “Maybe I’ll get it wrong,” needs to become “What happens if I get it right?”

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agent advice

Learning from “No”

How to go about learning from missed shots.

“Your most unhappy customers are your greatest source of learning.”
–Bill Gates

It’s hard for us to hear what we don’t want to hear. Sometimes our selective hearing is a defense mechanism that keeps us positive and keeps us moving forward. Busted listing presentation? Failed open house? Deal falls apart? Keep your head up and don’t look back, right? Sure.

And that works well… until it doesn’t. As uncomfortable as it can be to drop our defense mechanisms and really probe our failures, it is by far one of the most effective methods of self-improvement. It’s too easy to shake your head and say, “Well, they don’t know what they’re missing out on,” when someone chooses not to list with you. If you want to turn that “no” into a valuable learning experience (and after all, what do you have to lose?), consider this:

The next time something goes wrong with a prospect or a client, follow-up and find out why. A short email or letter is a great way to find out what “went wrong.” What you want to make sure you do in the letter is the following:

1. Acknowledge that you respect their decision not to choose you.
2. Thank them for the opportunity to serve them.
3. “In the spirit of self-improvement and honest feedback” ask them the main reason they opted not to use your services.
4. Impress on them the need not to “sugar coat it” and that you value their frankness
5. Regardless of how you feel about their feedback, thank them for taking the time to tell you
6. Most importantly: RESIST ALL URGES TO ARGUE

Not only does this present you as a true professional, but you’ll get straight-between-the-eyes feedback you would have missed out on otherwise.

When you take this path, those “failures” aren’t failures at all. They were steps along the way to greater success.

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agent advice

This can make or break your real estate career

Scott’s Thoughts: “So glad you kept in touch.”
The one simple thing that can make or break a real estate career.

“Remember there’s no such thing as a small act of kindness. Every act creates a ripple with no logical end.”
–Scott Adams (creator of Dilbert)

Recently, you probably came across an article, video clip, or moment in the world that reminded you of a past client. You probably haven’t spoken to them in a while. You might have found yourself reflecting briefly on the time you spent with them working on the sale. Then, as quick as it arrived, the recollection passed, and you went right back to stoking today’s fires to attract tomorrow’s buyers.

If you’re like most people, this happens a few times a month, sometimes more.

Now, imagine that instead of letting the moment fade away, you took five minutes to reach out to that long-ago client to let them know you were thinking of them. It didn’t take much– an email, a short voice mail message, a late afternoon phone call– just to catch up a little.

Do the math, and you’ll realize that even at a few times a month, you’d only have to spend a handful of hours a year to go above and beyond what many agents do to maintain a relationship with a past client. In the five minutes it takes to “wake” a sleeping client, you accomplish all of the following:

• You let them know you’re still in real estate
• You update your client database with fresh information about your client
• You open up the door for new business or referrals

Do yourself a favor and listen to that nagging voice in your head that says, “I know I really SHOULD do this kind of stuff.” You’ll be surprised how glad people will be to hear from you, and they’ll be happy you kept in touch. Agents who succeed regardless of market conditions are experts at this type of relationship management.

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agent advice

Questions to Ask Your Client

Interviewing Clients: 10 Great Questions
Great transactions begin with great questions.

“Remember you have two ears and one mouth,” is a good rule of thumb when meeting with potential clients. While you may feel anxious to explain why you’re the best agent to represent them and list their home, you’ll have a better chance of success if you use your mouth to ask questions and both ears to listen carefully to the answers.

Determining seller motivation is a key factor in ensuring how you serve them will meet their goals. If you can determine their hopes, fears, and what drives them to make decisions, you’ll be able to build a working relationship which will contribute to a smooth transaction and future referrals.

Below are 10 great questions to ask during your first meeting with prospective clients. Truly listening to the answers will help you understand where they’re coming from and what they expect.

1. How many past experiences have you had owning homes and/or moving?

2. Why is now the right time for you to move?

3. How long have you considered this move?

4. How will this move benefit you (and your family)?

5. Are there any downsides to this move for you, or potential pitfalls you see?

6. Describe to me, in an ideal situation, the best possible experience you could hope for in the sale of your home.

7. If for some reason your home didn’t sell, how would it impact you (and your family)?

8. How will having a real estate agent benefit you? (Listen carefully to this one… it will hit on their expectations of you!)

9. What were your past experiences like with real estate agents? (Or, if they haven’t had one yet, ask them to talk about experiences they’ve heard about with friends / family. Let them know, good or bad, they won’t hurt your feelings with their answers.)

10. Are there any specific issues you’d like me to address or questions you’d like to ask me?

Don’t feel like you have to march them through every question. Don’t try to fix every fear or make every promise– listen and pause before you speak. Don’t try to finish their sentences for them. Follow their line of thought and move naturally with the conversation. Along the way, you may hit upon revelations that the client had not yet discovered on their own… make sure to give them ample time to reflect!

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agent advice

Take it Offline

Scott’s Thoughts: Time for Face Time
Remember to take it offline sometimes!

“There is no substitute for face-to-face reporting and research.” –Thomas Friedman (http://www.thomaslfriedman.com)

A while back, I wrote on the subject of “Managing Connections.” At the end of the day, it’s not how many people we’re linked to, but how well we form lasting relationships with those we encounter.

With the rise of social media marketing and internet-based lead generation in real estate, it’s important not to lose sight of the value of face-to-face interaction. No matter how many emails we exchange, direct messages we send, or comments we leave on blog posts, very little can rival the nuance and personal connection we deepen when we meet in person.

Many social networks online provide opportunities for meetings “IRL” (in real life). On Twitter they’re called “Tweet Ups” (a take-off on “Meet Ups”). Regardless of how you do it, or what you call it, make a point to form face-to-face relationships with some of the people in your virtual network.

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agent advice

Using RSS Feeds

How to Use RSS Feeds to Save Time & Learn Faster
Stay current on your favorite websites in half the time…

Ever wonder how some people manage to keep up with dozens of news, industry, and entertainment websites?  The answer is simple:  They follow their favorite websites using RSS feeds.

RSS stands for “Really Simple Syndication.” It’s a standardized format that allows people to automatically syndicate website content. Rather than going out on the web to check in on your most frequently visited websites, you can have that content pushed to you in one convenient, easy-to-read spot.

The following videos will show you how RSS works and how you can start taking advantage of it today:

How RSS Works:
http://www.youtube.com/watch?v=0klgLsSxGsU

What is Google Reader?
http://www.youtube.com/watch?v=VSPZ2Uu_X3Y

You should add Free Help for Real Estate Agents to your RSS reader. Once you have a Google Reader account, subscribe to our RSS feed:
http://www.freehelpforrealestateagents.com/feed/rss/

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agent advice

Resentment is a Silent Killer

Scott’s Thoughts: Managing Resentment
Work to manage this silent killer.

“Resentment is one burden that is incompatible with your success. Always be the first to forgive; and forgive yourself first always.”
–Dan Zadra

Resentment is a deal killer. Whether between managing brokers and agents, agents and other agents, or between spouses, resentment is one of the most corrosive elements in a relationship. Sometimes called the “silent killer,” resentment is largely the result of unaired grievances or poor communication. What may be in actuality a very small (and often misperceived offense) can be the seed from which a series of bad decisions arise– passive aggressive behavior, professional sabotage, and higher stress levels across the board.

Resentment can also become toxic between buyers and sellers. You’ve probably been in negotiations where one side begins to really dislike the other. This attitude is ultimately counterproductive to closing the sale. Rather than focusing on the terms and compromises at hand, the two parties become entrenched in personal warfare. Successful negotiation means keeping resentment out of the picture.

One thing you can do to mitigate resentment is to make sure you never make a comment, however small, that disparages the buyer to the seller or vice-versa. Even if you think the comment may be sympathetic to and supportive of the listener’s frustration, what you’re actually doing is encouraging resentment. What’s worse, if the resentment ever boils over to full-scale confrontation, you might find yourself in the uncomfortable position of defending or explaining comments you may have made carelessly during the course of the deal.

Keep an eye out for growing resentment on either side of the fence. Anything you can do to diffuse or manage resentment before it manifests itself will go a long way to securing your future success.

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