self-improvement

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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Writing Effective Email

Four Tips for Effective Email Messages
Receive faster, more accurate responses guaranteed.

If you’ve had trouble getting responses from clients, colleagues, and friends, the problem might not be on their end, necessarily. It’s possible that the way you’re writing email is causing them to postpone reading your messages or miss crucial information.

By practicing these four tips, you can save time, improve the flow of information, and spare your recipients frustration.

1. Write specific subject lines

Blank or vague subject lines fail to catch attention and often discourage people from opening your message promptly.

For example, if you have a meeting with a prospective client next Tuesday and you’d like to clarify where you will meet, a subject line that reads “Where to meet next Tuesday?” is infinitely better than “Tuesday…” or “Our meeting.”

Remember, a subject line should cover the true subject of the message. A concise subject line also helps recipients decide if they can quickly respond, or if they’re going to have to put off the email until later in the evening,

2. Get your “Point Up Top” (P.U.T. it first!)

Lead with the purpose of your message. Email isn’t a cocktail party where small talk helps warm people to the conversation… it’s business! If you have personal questions or less relevant subjects, push them further down message, or better yet, save them for a casual message on the weekend. If you bury your point, you might not get the information you need at all. Your goal is to clearly explain in the first sentence why you’re writing.

3. In bulk email, boldface names to get attention

When someone sees that a message is sent to multiple recipients, they’re likely to think (or hope) that they’re not the focus of the message, and will therefore treat it with less attention. If you want specific information or behaviors from different individuals copied on a single message, try using bold face on their name. Avoid using ALL CAPS (it looks like shouting), but simply highlight and bold the name on its first usage to get attention. If possible, constrain your paragraphs to one person per paragraph.

4. Break up long paragraphs into shorter sections

When people open email, they instantly scan the message to see if they have time to digest the message quickly, or if it’s something they’re going to have to put off for a more thorough reading. If you’re in the habit of writing email with one enormous paragraph, you could be encouraging your readers to file the message away for later. If you DO have a long message you need to write, you might warn the reader in the subject line– for example:

Subject: Tuesday’s open house plan (warning: long)

Finally, recognize when email may not be the best means of communicating. This is especially true if you want to bring up a sensitive situation, or feel that your tone might be misinterpreted in email. The phone or a twenty minute meeting over coffee might save you days of back and forth!

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Avoid Using These Phrases

Communication Upgrade: Two Phrases You Should Avoid
Learn to say tough things a smarter way…

Productive communication is a skill you can develop to help smooth relationships, build trust, and overcome challenges. Here are two phrases you should avoid saying and effective alternatives:

Phrase #1 to Avoid:

Bad: “That’s not really my job.” / “That’s not something I handle.”

Good: “I’m not sure that should be my priority right now.” (Then follow-up with a conversation as to why.)

Reason: If you’re asked to do something, either by your boss or a client, telling them it’s “not your job” is a surefire way to broadcast that you’re simply unwilling to help them. If you don’t know how to do the task requested, or it’s truly beyond your ability, you need to have a conversation that helps them reach their desired goal without shutting them down.

Phrase #2 to Avoid:

Bad: “This might sound crazy / stupid / lame / like a bad idea, but…”

Good: “I have an idea I’d like your opinion on.”

Reason: Don’t set the stage for a suggestion to fail before it’s been considered. If the idea is worth sharing, it’s worth sharing confidently. If you present your perspectives with confidence, you’re more likely to have an honest conversation about your ideas. This, in turn, increases the value of your input to clients and co-workers.

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self-improvement

How Learning Influences Luck

Scott’s Thoughts: The Relationship Between Learning & Luck
Can learning create good luck?
“Learn everything you can, anytime you can, from anyone you can – there will always come a time when you will be grateful you did.” –Sarah Caldwell (1924 — 2006), opera conductor & stage director

When times are tight, the cries to “do more with less” and “get a return on every dollar” get louder. When left unchecked, this perspective puts a premium on linking every minute of your work day to activities which contribute somehow to the bottom line. Some of this is natural and sensible, but taken to an extreme, it’s counterproductive to preparing for future opportunities.

Seneca, a Roman philosopher, is widely credited with the quote “luck is what happens when preparation meets opportunity.” Looking for opportunity is the easier half of the equation. What about preparation? What is it, exactly? How do we prepare for opportunities we don’t know will come? What will they look like? How should we get ready?

I think the answer lies in permitting yourself the luxury of learning new things without a rigid vision of how they will connect to your business (or even your daily life). You may, for example, not see the point behind new web technologies, such as Twitter. And it may never be relevant to the way you do business. But I would suggest that you give yourself permission to learn about it, even if you think the time is ill-spent in the short term.

Learning, for its own sake, helps your brain learn to make connections between things which might not ordinarily be obvious. The concept or skill you learn today for “fun” may not equate to a higher income or a better quality of life next week. It may, however, be the little detail in the future which makes grabbing hold of a new opportunity possible.

Learning for its own sake may be one of the essential ingredients in good luck. Be open to it.

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Outside Interests and Your Business

Scott’s Thoughts: Passion for Your Leisure
Outside interests are important for your business…
“For a list of all the ways technology has failed to improve the quality of life, please press three.” –Alice Kahn, author

I’m an avid cyclist. Give me an uninterrupted stretch of free time, and there’s nothing I’d rather do than get on my road bike and go for hours. It doesn’t matter if I’m on a recovery ride, or pulling like a mad man on with the Sunday morning pack, cycling is a personal passion.

Pursuing your passion outside of work can actually be tremendously powerful for your business. In fact, if you’re all work and no play, the thing that may be holding you back is a lack of a personal passion beyond your real estate career.

I credit my passion for cycling with a lot of the business success I’ve enjoyed in my life. For example:

A passion allows you to meet people who have similar interests. You form strong bonds with people through a shared passion, and often that passion isn’t directly related to work. It’s a natural networking environment outside of your work circle.

A passion is better than a vacation–it lives with you in real-time as a part of your life, not a break from it. It occupies your mind. How many times have you been sitting on a beach on a much-deserved vacation only to spend the time concentrating on your work stresses?

A passion helps you avoid burn-out. You have activities to look forward to, conversations that don’t center on work, and personal goals which aren’t tied directly to your business.

A passion actually helps you process problems “in the background.” Concentrating directly on a dilemma isn’t always the best way for your brain to work on a problem. Have you ever had a bolt of insight from the blue while brushing your teeth, day dreaming, or sitting in traffic? A little distraction (especially positive distraction) can free up mental resources required to find indirect solutions.

In the end, it’s about balance. Don’t wait for retirement to cultivate your leisure activities… practicing them now might help you reach retirement sooner!

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Set Aside Time to Focus

Scott’s Thoughts: Dial Down Distractions
Schedule time for absolute focus…
“Be master of mind rather than mastered by mind.” –Zen saying, unknown source

Which day of the week do you have time set aside for absolute, uninterrupted focus?

I’m talking about time where you turn off the phone, close your door, shut down your email, and take time to devote your full attention to one demanding task or question.

You say you don’t?

You’re not alone. But you may be missing out on a number of breakthrough opportunities by neglecting to set aside time to tackle difficult problems and thinking clearly about reaching your goals.

Modern research has called into doubt the very concept of “multitasking.” (Listen to this revealing article on NPR, “Think You’re Multitasking? Think Again.” ).

Divided attention produces mixed results. While you may feel like you’re productive by being open to the instantaneous demands of phone, email, and coworkers, the odds are you’re just shorting the task you’re trying to complete.

Setting aside dedicated time to focus is about more than reducing ineffective multitasking time. It allows you to engage your brain at a higher level, to rise above the daily firefighting that obscures good, clear brainstorming, analysis, and planning.

Learn to pay yourself first and create a “no distraction zone” each week. Here’s how to make it work:

1. Block off time on your calendar every week. Ideally, you should be able to pick 2 – 3 continuous hours. If you can’t get that much, start with one good hour (and not your lunch hour!).

2. Make it known you’re not available. If required, notify coworkers, clients, and friends in advance that you’ll be off the grid.

3. Treat the time like an absolutely non-negotiable meeting. Don’t sell yourself short by letting obligations creep in. Remind yourself that this isn’t “free time,” it’s time that will yield progress in working towards your goals.

4. Plan in advance how you’re going to spend the time. By assigning a specific task, you’ll accomplish two things: First, you won’t find yourself frittering away the time when it comes. Second, your brain will gradually begin preparing for this uninterrupted time– those moments daydreaming in the car may actually be spent mentally preparing for your zero-distraction zone.

5. Determine what you want to have happen by the end of your focused time. A new marketing plan? A strategy for client relationship building? It’s best if the session produces a tangible result, such as a document, diagram, or action plan.

Odds are, you’ll begin to really look forward to this time, and the amount you’ll be able to accomplish will surprise you.

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The Meaning of “Service” in Real Estate

Scott’s Thoughts: What is Service?
Service is something you do, not talk about…
“A business absolutely devoted to service will have only one worry about profits. They will be embarrassingly large.” –Henry Ford

What is service? The phrase “customer service” (or “client service”) has been tossed around so much, people barely even hear it. Customers will tell you: “Service? That’s not something to brag about, that’s the price of admission! I expect service.”

We all know, though, that exceptional service is surprisingly rare. More people talk about service than provide it. The truth is, service is something you do, not talk about. When you provide remarkable service, people talk about it FOR you.

Three of the key tenets of service in real estate are:

Speedy Response:
Being first goes a long way to making an impression in real estate. When leads come to you through email, Twitter, Facebook, or voice mail, how fast are you with your response? If you receive a message on Saturday morning, do you wait until Monday to follow-up, or do you fire off a quick response (or make a call) Saturday afternoon? Calling on a Monday is run-of-the mill. Calling on a Saturday afternoon is good. But calling twenty minutes after the message on Saturday morning? That’s exceptional. Get that human interaction started as soon as possible.

Education Through Information:
Sometimes clients want information, and sometimes they’re asking for information because they’re trying to figure out the answer to a question they haven’t asked you yet. Knowing the difference is important. Always provide the information a client requests, but follow-up with a question of your own to the client: Is there a question I can help you answer with regards to [THE INFORMATION THEY REQUESTED]? Occasionally you have to help clients verbalize the question that’s on their mind. When you can helpfully educate (versus hard sell) a client, you’re building value in the relationship.

Enthusiasm & Empathy:
Here’s the rule: Want it as bad as your client wants it, and suffer when your client suffers. It’s inevitable that over time you might forget the high emotional stakes in a real estate transaction, but if you do, your client will feel it. In no way should you allow emotional highs and lows on your client’s behalf cloud your professional judgement, but if you treat your client’s transaction like a second trip to the store for toilet paper, you’re falling down on service.

Being human means you’ll drop the ball on these from time to time, but every day you should strive to keep your eye on these tenets of service. If you do, soon enough you’ll experience Mr. Ford’s “embarrassingly large profits” for yourself.

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Real Estate Self-Reliance

Scott’s Thoughts: Self-Reliance in Real Estate
The value of a “DIY” ethic…

“An axe at home saves hiring a carpenter.” –Friedrich Schiller

As a real estate professional, you find yourself wearing a lot of hats. At one time or another, you’ve probably been a salesperson, photographer, sign installer, taxi driver, negotiator, code enforcer, event planner, market researcher, marketing consultant, creative director, handyman / handywoman, webmaster, copywriter, and data entry clerk.

In short, you are an entrepreneur. A business owner. And you are your business.

Every new agent is essentially a “real estate start-up.” The work ethic of a start-up is almost always D.I.Y. (Do It Yourself). “Who needs a fancy home office? Ten cinderblocks and an unfinished door make a great desk in my garage!”

It makes sense. The DIY ethic helps you control costs. It gives you the satisfaction of being in control of every aspect of your business. It also helps you feel like you’re making forward progress on something, even if business is a little slow.

Knowing what it’s like in the trenches of your business is a vital. I’ve personally been in touch with every aspect of Oakley Signs & Graphics at one point or another, and still routinely check in on every nuts-and-bolts detail.

However, if you really want to take your business to the next level, there will come a point when you’ll have to evaluate what you should do against what you can do.

For example, does it really make sense for you to personally drive to your new listing and install a sign, or should you spend 30 minutes writing a new blog entry about your local market?

Every time you choose to do something, you choose not to do something else at that moment. As you advance in your career, don’t forget to learn to prioritize tasks and identify where it makes sense to outsource the minor so you can concentrate on the major.

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Listening is Key to Winning Clients

The Power of Listening
The greatest compliment is attention…

“The greatest compliment that was ever paid me was when one asked me what I thought, and attended to my answer.” –Henry David Thoreau, writer and naturalist

Want the key to impressing prospects and clients?

Listening.

It’s 50 percent of communication (maybe even more), and yet so few people seem to have the ability to do it well. Meetings are supposed to be productive sessions in which people speak, listen, and discover solutions together. But haven’t we all been to meetings that seem like a room full of people giving monologues? Everyone talking, no one listening.

If you want to truly impress your client, take a tip from Thoreau: The biggest compliment you can give is evidence that you’ve been listening attentively to their needs, fears, and dreams. Every conversation with your client is an opportunity to discover more. Questions are vital components of listening.

Every client has at least one of two problems: 1) They don’t know what they’re looking for, or 2) They know what they want, but they don’t know how to get it. The only way you can help them figure this out is to ask questions and listen intently to how they respond. As a real estate professional, you have the knowledge and skills to help them solve both of these problems.

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Consistency is the Key to Agent Success

Scott’s Thoughts : Consistency For The Win
Sticking to your goals…

“Consider the postage stamp: its usefulness consists in the ability to stick to one thing till it gets there.” Josh Billings (a.k.a Henry Wheeler Shaw), Humorist (1818-1885)

So much of the time, consistency is the key to success. From a golf game to a weight loss plan, gradual, continuous effort is the thing that really adds up over time and helps us reach our goals.

Any new skill requires practice, right? It takes time to go from amateur to pro. Why do we so often forget this in our business lives?

How often do we hear (and respond to) things like:

• “I need this house sold yesterday.”
• “I need more leads now, not next month.”
• “I can’t afford to slow down and try that marketing idea today.”

Sadly, an instant-feedback society can deter us from remaining focused on our goals. We end up chasing the latest bit of information or putting out the newest fire. The end result? We build very little and expend an enormous amount of energy.

It’s up to you to make the change… and you can do it. Here’s a formula to help take control:

1. Pick one new idea you’d like to try. You may have sixteen, but choose ONE.
2. Decide in advance how long you think it should take to see results, positive or negative.
3. Have an amount of time in mind? Good. Now DOUBLE it. Patience is key.
4. Determine what the very next action is you can take to get the idea underway. You may have a complex idea, but in order to get forward motion on it, you need to choose the simplest next step you can take to move it along the path.
5. Continue to identify and complete the next actionable step and track results along the way.
6. Do not start a new project until you have an idea of how your current project is progressing.

Be the stamp: Stick to your goals.

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