How to get an Expired to meet with you

I have spoken in the past on how working with Expired's in this market can be a very lucrative source of business. Getting them to meet with you can be challenging since they have been through the ringer in the selling process with no results.

That said, you must keep certain things in mind when targeting this market and if you do, I know you will see immediate results in your appointment calender.

First, when calling an Expired you know they will be argumentative and combative. To get them to open up to you, do the following:

1. Don't put them on the offensive. Agree to whatever they are saying and empathize with them. Even though you know reality might be different than their point of view.



2. Show them that you care about what they are saying. Validate their frustration on the market being slow or that perhaps their agent did a terrible job by saying, you to deal with unprofessional agents all the time and that you definitley know how they feel.



3. Repeat back or paraphrase what you heard so that you are both on the same page.



4. Ask another question. Remember, the person who asks the questions, controls the coversation. Whereas the person who talks, dominates the conversation and gives away their hot buttons.

When working with this market, you must keep this in mind:

1. Know the market better than anyone.



2. Know pricing better than anyone.



3. Know what's happening in the market better than anyone.



4. Then combine that with the knowledge of scripts and dialogues and you will be guaranteed a surefire appointment. Focusing on scripts and dialogues means you will be able to listen to what they are saying and not focusing on what you are going to be saying next.



5. Also, focus on CONTRIBUTION. What can you do for them to help them get back to what their original motivation was in selling their property.

The two most important rules in selling are:

1. Ask important questions



2. Listen the the answers of what they say so you can better help their needs.

Now, with all this in mind, what little trick can you use to get them to agree to meet with you. An Expired listing will have 4 basic objections. Here is how you should deal with each one.

1. We've already found another agent. AGENT: Have you already signed the paperwork? If YES, wish them luck and thank them for time and offer your help if it doesn't work out. If NO, That's great and what I'm hearing is you feel obligated to your last agent since they have invested a lot of time and money in your home right? We Mr/Mrs Seller, you don't owe me anything and you don't really owe them anything but you do owe yourself the very best. It certainly wouldn't hurt to hear what I do to get homes sol, would it?



2. We are going to stay with the same agent. AGENT. See above.



3. I'm going to sell it myself (break in to your FSBO Script) I can appreciate that and what I sense is you want to make sure you get the best possible agent for the job of selling your home. What are you lookin for in an agent? Then let them speak.



4. I'm taking it off the market and decided not to move. I love this one as they are probably doing this because they can't get the price they want. If they are selling to re-purchase, speak to how they how they will make it up on the buy side. They might not get what they want for their home, but they will acheive thier goal of saving money when they repurcchase. If they are investors who want to sit tight, ask them if they know what their return on EQUITY is. If they don't know, discuss how you would be more than happy to figure that out for them and discuss with them the benefits of selling anyway and putting in to an Industrial TIC. This way they can have all the beneifits of owining invesment property, without the headaches of being a landlord. For more informatinon on industrial TICS, call me. I will hook you up with a good one.

One last note. Most of the time with an Expired, they will ask why you did not show the house when it was listed. Your simple response to that should be, "I appreicate that and I did not show your house. I am a very hard working agent for my clients and I was keeping my commitment to other sellers that hired me. So, when would be a good time for me to show you that commitment that I make to those sellers. Would today at 3 or tomorrow at 4 work best for you?" Close, close, close for the appointment and don't give up.

Happy Production

Why now is the time to go after FSBO's and Expireds

2007 brought on a ton of Expired's as seller's were chasing too few of buyer's and not realizing that they needed to price their property to sell. And FSBO's now more than ever needed agents again as the hey day of putting a sign in your front yard was over and it required marketing muscle now more than ever to get a property sold. With that said however, agents who attempted to work these segments of the market found grief and aggravation in either trying to get a listing sold or a seller to realize how to price their property right.

This year NAR estimates that their will be 500,000 less agents working in the industry than last year. How does that work for you??? Less competition. So, if you want the "FASTEST SOURCE OF BUSINESS" opportunity, working FSBO's and Expireds can be a very lucrative market to go in to but also you need a game plan.

In all of my coaching, I always ask my agents, "what actions can I do now that would make the most difference in my business?" And what is my answer???? Prospecting, Prospecting, Prospecting.

While I believe you can build a business with people you know, you also need to add to that database of people by contacting the one's who have already raised their hands by letting the world know that they want to sell their house. That said, I will always tell agents that they need to find a way of looking outside their met database and to go after a market of FSBO's and Expireds.

The issue you can have with this market is that they "might" not be realistic with their price. If you sharpen you skills and are ready to show them where their home is positioned in the market, you will ultimately be the agent of choice in getting their home sold.

As a reminder though, I want you to keep this in mind before you work this segment of the market.

1. It is a numbers game. You should realistically expect to only get in touch with 15-18% of the Expired or FSBO seller to even get an appointment. Keep that in mind and don't get down when you hear more No's than Yes from these people.
2. Know when to say NO. If they are not realistic on price, be prepared to walk away. Be polite and hand them your card and say, "Please contact me if your property does not sell" Set your standards and keep them.
3. Have Empathy if they are an Expired. Most Expireds have been through the ringer. After all, the home selling process is no fun. They have probably had showings with no offers, they have had endless open houses with them out of the house and they have had the pain of making sure their home is in show condition daily even though no one showed up.
4. Be the agent there first. Usually the early bird gets the worms. And in this case, being the first agent on the scene will usually get their attention to see that you are serious about selling their home and that you can get the job done.
5. Set yourself apart! Set yourself apart from all the other agents. Drop off your marketing package in a bright colored envelope if you don't catch them at home. Then follow up with a phone call asking, "Did you get my package in the purple envelope?" Be prepared to have a marketing package like no other in what you are going to do to get there home sold.
6. Be persistent. Most agents give up after the first week. Here are the stats: 50% give up after week 1, 70% after week 2, 90% after week 3 and nearly 100% after week 4. Don't give up, never surrender until they sign or say GO AWAY.
7. Be prepared to discuss with them the four reasons why properties don't sell. They are:

• Price
• Promotion
• Presentation
• Location

Finally, have a plan and work it. Make it easy on yourself and make it reachable. Make a daily called the 5,5,5 plan. Call 5 Expireds, 5 FSBO's and 5 Drop bys. If you do this, you will see your business grow steady and even.

Happy Production!

Is your client loosing out on a HOT FORECLOSURE PROPERTY? Try an Escalator Clause

In any market, a really well priced property will have multiple offers. Currently, with the wave of foreclosures that we have seen hit the market, aggressive buyers are taking advantage of this and know that this is the right time to buy. But just as you can lose a property in a seller's market by being outbid, you can also in a buyer's market with the same thing happening. How can you be sure that you be the winning bid? Try what is called an Acceleration Clause. First you must determine how high of the property in question is worth and attach this clause to your offer. You can attach a seperate sheet, but if you are in California, I suggest put it on an Addendum to the Purchase Contract.

Below is how you can craft the Escelator Clause:

Escalator Clause Addendum


The following is part of the Residential Purchase Agreement and Joint Escrow
Instructions dated ___________.

Between ________________________________ (“Seller”)
and _______________________(“Buyer”)
concerning _______________(“Property”)


IT IS AGREED BETWEEN THE SELLER AND THE BUYER AS FOLLOWS:

In the event another written offer is presented to Seller on or before acceptance of this offer, Buyer agrees to increase his/her/their offer to the amount of that offer plus ___$X_______ with the total amount* not to exceed $_____$X_________ on the condition Seller provides Buyer with a copy of signed offer from the other party. This offer is contingent on buyer excepting seller’s final acceptance.

*(After Seller concessions/credits to buyer are subtracted, Seller proceeds will be higher with this offer by the amount Specified above.)


Initials: Buyer _______________ Buyer ___________________ Date ___________
Seller ________________ Seller ___________________ Date ___________

Remember, the key is to determine if the property is worth doing this and if you are competing against multiple offers.

Pricing Listings to Sell and Handling Price Objections From Sellers

Real estate agents don't sell homes, a home priced right does. We are just the facilitator in the process. That's why in this shifting market, it is very important that if you take a listing, that you price it to SELL. Let me repeat that. If you take a listing in this market, you price it to SELL. Otherwise, why have it? Just think of all the work and effort you put in to listings just to have it sit there and languish on the market. Not to mention the money you spend promoting it. That's not to say though you can't capture great buyer leads to help close more sales. But consider if you promote yourself as a great Listing Agent in your farm, how do you think it will look if you have a listing sit and sit and sit for 6 months or more? To me it would show that you can't get a home sold. So my advice is to make sure that you only work with MOTIVATED sellers that have to sell, and price it to SELL.

Now you all say that's great Robert, but what do I do when they fight me on price. Here are some comebacks:

1. Specifically....what makes you feel your home is worth $X? Provided you show them the comps and what the market will bear, this should be easy. Remember, you do not control the market. You only interpret it.
2. Did you add those features for your own benefit and enjoyment or did you add them to sell your house thinking the new buyer would pay more? If they say pay more, then go over the comps again and go over what they can expect to recoup for their investment based upon national statistics.

Price Reductions - If you happen to get a listing that you agree to let the owner's "TEST THE MARKET", then for God's sake, keep these thoughts in mind:

1. Use the price reduction time to prepare the seller for a lower offer.
2. With every price reduction, get an extension of the listing agreement.
3. Ask for price changes every 14-21 days or ten showings, whichever comes first. (Be honest about price)
4. Use the Law of Supply and Demand when presenting for price changes based on the MLS statistics for their area.
5. Always go back to the seller's motivation.
6. Don't chase the market down - tell the seller where the market could be in 4-6 months and price it as if it was 4-6 months out. You will stand out among the competition and get that home in to escrow as it will be a great deal.
7. Don't take too small of a reduction. When you see a sale at a Department Store, don't you typically see at least 10% OFF. Keep that as a goal for you price reductions. I hate to see a measly $5,000. What good is that?
8. Offer extreme customer service.
9. Follow up on all showings for feedback. If you aren't doing this, you are missing out on why that buyer has not made an offer so that your seller will know why their home is not selling.

Other things to consider with all your listing inventory is set a weekly price reduction goal so all listings are reduced every 14-21 days.

Also, rate your listings. Put your listings in monthly order of sales with our without price reductions and sell enough each month to reach your yearly goals.

Finally, don't be afraid to walk away from a Listing. If the seller is not reasonable about their selling price in relation to the market, why have it? You will spend a lot of time, energy, money and effort in trying to sell something that the market will not take. DON'T WASTE YOUR TIME.

Good luck and healthy production.

Know the Language of Sales to guide you to SUCCESS!

To be a successful realtor - agent, it is critical to learn the Language of Sales. To master selling such that your words can cause instantaneous action in others, to build rapport or to have a positive frame of mind at all times will guarantee your long term survival as a great salesman.

NLP otherwise known as Neuro-Linguistic Programming is just that. NLP is the study of how words affect the brain to get an outcome. It provides strategies which will cause your customers to be more inclined to work with you and allow you to build rapport more quickly. NLP is a study of collection of "people skills" based on a deep understanding of how the mind works and how humans create an understanding of reality in their brains. It is the study of how words affect the brain to get an outcome. It is how the brain analyzes what's going on around you, looks for a time you have experienced similar items, searches for repetitious patterns which in turn creates an "I've been there.....done that feeling."

In NLP there are three pivotal skills. They are:

1. Influencing Skills - Which is used for teaching, leading, negotiating, mediating and persuading.
2. Self Management Skills - Used to move from motivation to learning to decision-making to self-fulfillment
3. Healing Skills - Used for resolving conflict to healing trauma

The Language of Sales really only uses influencing skills.

When using NLP to its optimal use on a prospect/client, one must consider how the other learns. There are basically 3 ways that people learn:

1. Visually - by seeing it
2. Auditory - by hearing it
3. Kinesthetic - by feeling or doing it

To determine how your prospects learns, you must ask them questions and listen to their responses, or simply just listen to what they are saying.

For example, if a prospect says something like, "I hear the market is picking up." They are an Auditory person. If they say, "I see the market is starting to move." They are a Visual person. Finally, if they say, "I feel the market is getting better." They are obviously a Kinesthetic person.

Knowing what type of ways people learn, will make a tremendous difference in say for example, how you deliver your Listing Presentation. If they are an Auditory Person, a Listing Packet is of no use to them. They want to hear you speak and find out that way what you are going to do for them. If they are a Visual Person, they will then want to see a Listing Packet with how you are going to sell their home. And if they are a Kinesthetic person, they will want to be made to feel good about what you are going to be able to do for them in order to sell their home and they will want to be interactive with the process.

Here are some important things to remember with each profile type:

Visual

• They have difficulty with verbal instructions
• Their mind might tend to wander
• They want to see it to learn it

Auditory

• They learn by hearing
• They are distracted by noise
• They talk to themselves
• They repeat back easily
• They like to be told what to do
• They like praise, music and talking on the phone

Kinesthetic

• The move/talk slowly
• They stand close to you with eyes down
• They memorize by doing or walking through it
• They are less distracted by nose
• They must experience it
• They must be given directions as they do it
• They like physical rewards

There is no right or now wrong way to be. We are all HARDWIRED differently which is why we as humans are all unique. Remember this if you are an auditory person with a HIGH D behavior and you come across a person who is Kinesthetic with a HIGH C behavior. The latter will probably not be that quick to absorb what you are telling them. They would prefer you slow down and let them absorb it so they can focus on the people element and situations.

For more information, please feel free to contact me.

Understanding your behavior as well as your clients is crucial for success

What is behavior?

Behavior is the manner of conducting oneself. It is anything a person does that involves ones physical action and it is the way someone acts.

Behavior is not a person's intelligence, values or beliefs, skills and experience, education and training or motivation or ethics.

Every person has a "preferred behavioral style." This is the basic behavior a person will exhibit naturally (unconsciously) unless they willfully (consciously) alter it. So, the basic, non-altered, effortless, natural behavior is called a person's "preferred behavioral style.

The bottom line for preferred behavior affects is:

• How people think.
• How people act.
• How people feel.
• How people react.
• How people behave.
• How people speak.

Most people work naturally best with like behavior people. What people do or won't do depends on their behavior.

To understand their behavior, you need to understand the four types of behavior. They are as follows:

1. D - Dominant
2. I - Influencer
3. S - Steadiness/Systems
4. C - Compliant/Controller

This is referred to as the DISC Profile. Following is a break down of each profile:

D - Dominant

On the DISC, the D correlates to how a person responds to problems and challenges. Individuals with a High-D profiles exhibit behavioral characteristics such as:

1. Dominant, driving, direct, decisive
2. Strong ego
3. Active and aggressive problem solver vs. analytical researcher
4. Bottom line thinker
5. Leader because they want to lead
6. Task oriented

A High-D individuals primary emotion is anger - meaning that they have a short fuse and are quick to respond with aggression. These individuals fear that others will take advantage of them and/or waste their time.

I-Influencer

On the DISC, the I correlates to how a person influences others to their point of view. Individuals with High-I profiles exhibit the following behavioral characteristics:

1. Outgoing, charismatic
2. Verbal, gregarious
3. Highly optimistic, trusting
4. Persuasive
5. Impulsive, emotional
6. People oriented

A High-I individuals primary emotion is optimism. These individuals fear rejection and lack of approval or social acceptance.

S-Steadiness/Systems

On the DISC, the S correlates to how a person responds to the pace of the high environment, activities and responsibilities. Individuals with a HIGH-S profiles exhibit the following behavioral characteristics:

1. Steady, stable, predictable
2. Good listener, understanding
3. Possessive
4. Friendly
5. People oriented

High-S individuals typically hide their emotions and their greatest fear is loss of security or stability.

C-Compliant/Controller

On the DISC, the C correlates to how a person responds to rules and procedures set by others. Individuals with HIGH-C profiles exhibit the following behavioral characteristics:

1. Compliant, correct, precise, exacting
2. Analytical, fact-finding
3. High standards, systematic
4. Conscientious
5. Task oriented

A HIGH-C individuals primary emotions are fear and worry. These individuals fear criticism and imperfection.

Communicating with each behavior profile is important in achieving success in dealing with them. This is how you should work with each behavior:

D- The HIGH D is looking for Results/Efficiency When working and communicating with individuals who exhibit a high D behavior, remember that they are direct, self-reliant and competitive. They are high risk takers and they aer task-oriented. They have a desire to change the environment around them and they have a great sense of urgency. These individuals will need to lighten up when dealing with I profiles and slow down their pace when interacting with S profiles.

I - This HIGH I is looking for experience. High I's are people-oriented and tend to be very verbal and persuasive. They may have creative high-risk ideas, but some may not carry out the ideas. High I's enjoy people and fun. They ask lots of questions. These individuals need to be careful not to appear too pushy or enthusiastic to S profiles and untrustworthy to C profiles.

S - The HIGH S is looking for security. High S individuals are people-oriented, warm and stable. These individuals are the peace-makers or peace-keepers. They are systematic and methodical and do not take high risks. S and D profiles may have difficulty communicating because one prefers a slow pace and the other a fast pace. S and I profiles generally interact well because of their people-orientation, but the I profile will want the S to loosen up and have some fun.

C - The HIGH C is looking for information. High C individuals are task-oriented and seek detail analysis. C profile individuals have a critical eye and a critical nature. They are methodical and careful. C and D profiles may have difficulty communicating because of their influence in speed and risk orientation. I profiles will want the C individual to focus more on the people element in relationships and situations.

Follow these simple guidelines when dealing with each behavior:

1. Don't ignore the wisdom in behavior profiling. The sooner your learn each profile, the better you will be in working with all personality types.
2. Put behavioral profiling in perspective. Everyone is cut from a different cloth. And that is OKAY.
3. Let the ideals guide you - not limit you. Don't let the a person's profile limit you from working with them.
4. Respect differences. There are not right or wrong, better or worse profiles.
5. Use the DISC language appropriately. In other words, don't belittle someone if you are a D and they are a C and need more time to sort things out.

Good Luck.

How Powerful is Your Mind and MINDSET???

Earl Nightengale said, "We become what we think about most of the time." This is very important in creating the MINDSET of being a success in this business. After all, 90% of this business of real estate is mental and 10% is skill.

In this market we are currently in, which is a buyer's market, that 10% is more important now than ever as a buyer's market is a skill based market. However, if all you do is sharpen your skills, it does no good if you don't put them to work. With that said, here are a few things I would like you to consider to keep you in the right MINDSET:

1. Keep your goals foremost in your mind. Read them weekly at a minimum and you'll be setting yourself up for positive results.
2. The issue of thinking big is a major issue in growing. Learn to close your eyes and visualize yourself achieving your goals.
3. You must develop an unwavering desire to achieve your goals in spite of the daily ups and downs that we you are going to encounter through hearing your clients' ups and downs.
4. Remove any drama from your life. The last thing you need to worry about is any outside influences ruining your day. It costs you time and money and it can ruin your life.
5. We become like the people we associate with. Are the people around you contributing to or taking away from your power to succeed at what you want in your life.
6. Thinking BIG is a learned process. It is no different that learning to ride a bike. Anybody can do it if they will take the time to work on the process.

How do you create a powerful MINDSET?

1. One way is to spend less time comparing yourself to others and more time working on yourself, your skills and your mindset.
2. Remember to do affirmations. There are both positive and negative affirmations.
3. To change the fruit, you have to change the roots.
4. Your income will grow to the extent that you do.
5. Set your financial thermostat
6. Look at your 5 closest friends. Are they helping you to set the bar higher? If not, consider who you are closely associating with.
7. Always show gratitude. Take each day to be GRATEFUL for all things no matter how small or how big they are. It can be as simple as an easy and safe drive to work or the ability to hear and listen to the joy of music.
8. Finally, don't take things personally.

Do you have the MINDSET to be a MEGA AGENT?

Mindset will make or break a real estate agent
Do you have the personality to be a MEGA-PRODUCER?

Almost all agents would love to be a top producer. The question is what differentiates the top performers from all the rest?

The 80-20 rule says 20 percent of the agents will conduct 80 percent of the business. NAR statistics indicate the statistics are closer to 10 percent of the agents are conducting 90 percent of the business. Mega-producers are different in numerous ways, the most important of which is their mindset. To see how your mindset compares to the mega-producer, take the assessment below:

Determine how many of the following statements accurately reflect your "business personality":

1. I have no problem connecting with strangers. People find it easy to talk to me.
2. I have excellent listening skills and can easily spot what is blocking a client from taking action.
3. Normally I only have to show most buyers five or six homes before they purchase.
4. When I go on a listing appointment, I have no problem walking away from the listing if the seller wants an unrealistic asking price.
5. When I promise a client something, it gets done on time.
6. I spend at least four days per week, three hours per day, conducting proactive lead generation activities, such as door knocking, calling on expired listings and FSBOs, and/or telemarketing.
7. I may not always have the answer to a problem, but I know who to ask to solve it.
8. I know the inventory like the back of my hand and can accurately price properties without consulting the comparable sales.
9. Closing is a snap for me. I know what, when, and how to ask for the close with both buyers and sellers.
10. When someone makes an unreasonable demand, I have no problem telling them "no."
11. When others lose their cool, I'm the calm in the middle of the storm.
12. Rejection—what's that? If they don't want to work with me, it's their loss.
13. Objections? Not a problem! Objections are buying signs!
14. The first thing I do everyday is to complete my lead generation. I don't do anything else until I have made the minimum number of contacts I have committed to each day.
15. When there is a problem in a transaction, I'm a master problem solver. My motto is "Never give up!"

Scoring:

Give yourself one point for each item you said accurately describes your business personality.

• 13-15: You have the mindset of a top producer. If you aren't one already, you will probably be one in the near future.
• 10-12: You could be a top producer, but may need to make some minor alterations in terms of how you approach the business.
• 7-10: Top production may be challenging for you because you may have to alter your core behavior to fit the "top producer" profile. It's possible, but it's much more difficult when your core behavioral style is different from the top producer profile.
• 6 or less: Real estate will be a challenge for you. Take time to carefully examine whether you are willing to put up with the rejections and challenges you must face daily to succeed.

Coaching tips:

1. Mega-agents always make lead generation their top priority. No matter how many hang-ups or "no's" they hear, they keep prospecting until they hit their daily goals. It's smart to set aside specific prospecting time each day and hold that time as the most important appointment of your day. Without lead generation, you will have no business.
2. Mega-agents are excellent listeners who understand the importance of asking clarifying questions rather than talking all the time. They are generally "people's people." Excellent listening skills translate into showing buyers fewer homes because the agent hears what the buyer really wants. It also means the agent can spot when the buyer/seller is ready to be closed. Instead of talking, ask questions and write down what your clients tell you.
3. Mega-agents are not afraid to say "no" to unrealistic sellers or to individuals who ask them to "bend the rules."
4. Mega-agents are persistent. When someone tells them "no," they keep trying. When clients object, they recognize objections are normally buying signs. When things go wrong, they remain calm and focus on finding the solution.
5. Mega-agents know the inventory and they know their scripts. This results in confidence. See as many houses as possible and practice your scripts until you can remember them effortlessly.

If you would like to improve your production, consider working with a coach or a mentor who can help you take the necessary steps to reach the "mega-agent" mindset.

7 needed steps for every Realtor when PROSPECTING

For many salespeople, prospecting is the most difficult activity they do. They dread the thought of picking up the phone to make a living. Long-term success in sales is built through solid prospecting. In order to be successful and profitable, sales people need to apply these seven secrets of prospecting daily.

1. IT GETS EASIER AFTER THE FIRST CALL. The first call is always the most difficult. I prospected solidly for over eight years in real estate. I never got over the difficulty of making the first call. Getting yourself to make the first call is the highest hurdle. The only solution is to just do it. After you make the first call, you realize it was not as difficult as you imagined. The person on the other end of the line was not as difficult as your mind had created. In many cases calling begins to get fun after a few calls. The problem is most people just never break through the initial barrier.

2. ESTABLISH A ROUTINE. To be successful, you should have a scheduled time for prospecting daily when that is the only activity that is being done. Treat prospecting as an appointment. Do not allow anything to interfere with your prospecting. We often allow distractions to creep into our prospecting time. The salesperson that has a set routine daily of making prospecting calls at a specific time and adheres to his schedule without distraction is guaranteed to succeed. This person will not only succeed but he will be a "top gun" Agent, the best of the best.

3. BIG "MO." At first prospecting will be very difficult. Your skills will not be developed to the level of an expert. Once you start the process, do not stop. Momentum is critical to prospecting. Once you get the process going, your skills will improve to generate more leads and to set more appointments. Do not break your momentum.

Another Agent in the real estate office where I worked once issued me a challenge. The challenge was who could list more homes in a month. I knew that I would win, since I had momentum and he did not. He had not been consistently prospecting, so he had no momentum. I must say that he did have the best month he had ever had. But that was because he was consistently prospecting and had been following up on the leads he was generating. At then end of the month, my team had taken eighteen listings and he took six. Do not bet against Big "Mo."


4. EXPLODING THE BEST TIME TO PROSPECT MYTH. The best time to make prospecting calls is when you have the most energy and when you actually will call. There have been tremendous arguments over this point by Agents and trainers. Set a time to prospect and call at that time. Do not worry about things you cannot control, such as someone being home or not. Focus on your skill level, avoiding distractions, and prospect. These factors you can control. I always prospected early in the morning because that was when I had the most energy. It also got my day off to a great start, which would carry me through the rest of the day. I always thought if I had a good disciplined day of prospecting that I had a good day regardless of the number of leads, number of appointments set, or anything else that happened that day.

5. FOCUS ON THE GOAL OR OBJECTIVE. Set a specific goal of what you want to happen on each call. Know what you want that prospect to do. It is hard to achieve success in prospecting without a clearly defined objective.

The true objective is to set a qualified appointment with the prospect. If you are unable to accomplish that objective, then the next best objective is to get an agreed upon action by the prospect within a specific time frame. For example, the prospect is going to be interviewing Agents next week. You and the prospect agree to speak on Thursday about getting the appointment scheduled for next week. The last objective is to generate a lead that will buy or sell in the future. This objective depends on your definition of what a lead is for a buyer or seller.

6. THE POWER OF SCRIPTS. Highly successful sales people use scripts. To effectively prospect, it is crucial to know what to say before you start to prospect. Scripts provide a guide and logical sequence of questions to follow. They allow you to focus on the response of the prospect rather than fumbling around to find the words.

The only way to move to the highest form of communication is to know what you are going to say to the prospect. The words you say only account for 7% of the communication. If you know the words, you can begin to focus on your tonality and body language. Tonality accounts for 38% of all communication and body language accounts for 55% of all communication. If you are focusing and stumbling through 7% of the words you will be ineffective in prospecting. We have all heard an unskilled telemarketer stumble through their scripts and dialogues. Develop, learn, and practice your scripts so you can effectively communicate and reach your prospect through your tonality and body.



7. IT IS A NUMBERS GAME. Prospecting is truly a numbers game, for two valid reasons. The first is the more prospecting you do the less rejection bothers you. The best way to deal with rejection is to get as much as you can as soon as you can to reduce its effect on you. Most people you call are very nice and pleasant. They may not need your services at this time, which is fine. Rejection is rarely as bad as you imagine. The only way to find this fact out is to make more calls.

The second reason is you can replicate your business via numbers. Prospecting will allow you to plan your income and results. If you track your prospecting efforts, you will find you have ratios in your business. I would make 25 expired listing contacts and get a listing signed. If I wanted to list a property a day, I needed to make 25 expired contacts daily, which would then create the desired income for my family. Contacts are defined as a prospecting call that results in talking to one of the decision makers in the household.

What is your desired income? How many prospecting contacts do you need to make to achieve it? As you get more skilled, the number of contacts needed will decrease. When I first began prospecting, I needed to contact over 100 people to get a listing. Start tracking your numbers so you can play the game. To play the game well is to know and understand the game.

Michael Jordan was the best player of all time because of his abilities, but also because cerebrally he knows the game better than any other player. His physical skills were not at his highest levels late in his career, but his mental skills were beyond compare. Develop your verbal and mental skills.

Prospecting is truly an integral part of success in any sales profession. Do not be fooled by the prospecting-free system to success. Develop and apply the seven secrets of prospecting success. Develop the habit of daily prospecting, and you will become one of the "top gun" Agents in the world.

How to accomplish more in less time as an Agent

TIME COMPRESSION

One of the skills that top achievers have is the ability to compress time. Compressing time is the ability to accomplish more in less time. If you analyze the highest producers in business, you will observe they have the skill of time compression.

One skill of great time compression is the ability to plan your work tomorrow before you leave today. If you spend a few minutes planning your day on paper the day before, your subconscious mind will kick in. The plan, or list, triggers your subconscious to work on your challenges of the next day all while you sleep. Your mind will be working like a rotisserie, turning the challenges and your time for tomorrow, all night while you rest. When you get up you will be ready to attack the day.

Before you start your workday make sure to ask these key questions:

1. What is my highest payoff activity I can do?
2. What, if done with excellence, can make the biggest difference?
3. What can I do well that no one else can do?
4. Why am I on the payroll?

These questions must be asked each day before you begin. The most successful people are not the jack-of-all-trades. They are the people who specialize in something and who perform activities that no one else can do. And they perform these actions with excellence to a higher standard. If you do that you will be highly sought after.

Successful people understand the trap of urgent versus important. As REALTORS(r) we are faced with that challenge daily. We get interrupted constantly by phone calls that are urgent not important. We have to make quick judgments on unexpected phone calls from other Agents, sellers, buyers, title companies and escrow people. The consequences of selecting the urgent, not important, can easily cause us to lose productivity. Often urgent things are not important over the long haul. Here is a good rule to use when evaluating urgent versus important. Important things are usually self-directed or self-generated. They are the things that you can do to move your business and life forward. These important things will have the greatest impact on you and your family. We often select the urgent over the important because of someone else's emotional state that influences us. When you feel yourself being swayed by someone's emotional state, take a few steps back to analyze the situation.



Others generate urgent activities. They take place because of inbound calls by others or emails or problems. Often people want their urgent problems to be assumed by you. Someone else causes urgent activities. By setting boundaries as to when you will be dealing with urgent activities you will be able to accomplish much more in your allotted time.

To compact your time we must recognize the limiting steps. For every achievement or accomplishment there is a limiting step along the way. The sooner you cross over the limiting steps the more you can accomplish. The limiting steps can create a bottleneck to you achieving what you set out to do. Successful people identify the limiting step quickly. Then they focus with laser intensity on removing the limiting step. Until it is completed, they work on that one activity.

Lastly, successful people have clarity of purpose and clarity of values. They know the direction to travel and what they stand for. They have decided what is important to them. They have determined their priorities and they implement based on that order of priorities. They have also clearly defined their values. The values of what they stand for in business and life. They work to insure their values don't conflict with work.

By applying these simple steps of action and clarity you can compress your work time. You will also be able to double your effectiveness when you are at work. Take the time to review this article daily for the next 30 days. It will enable you to establish some new habits of time compression.

Script for Converting Sign Calls or Buyer Calls on Ads when they call you

Script for Converting Sign Calls or Buyer Calls on Ads.

Goals for a sign call or ad call is to:

1. GET AN APPOINTMENT
2. To get a solid name and phone number to build your pipeline

The goal of the prospect is to:

1. Get information so they can eliminate the property.
2. Eliminate you as a realtor.
3. Invest their time wisely.

So, when a caller calls in on an ad or listing remember that the person who asks the questions controls the conversations, whereas the person talking through the conversation dominates the conversation.

So, key is to ask questions.

Caller: Yes, I’m calling on the property you have listed on Craig’s list/LOCATION. Can you tell me how much that property is?

Agent: That’s a great property. Everyone is calling in on that property. So I assume you are in the market to buy?

CALLER: Yes.

Agent: Hold on just one second. I need to grab that file. While I do that, do you mind if I ask you what attracted you to that home?
OR Let me look that up. While I’m looking that up do you mind if I ask you another question? What price range do you feel comfortable with?

If the home is out of their price range, then it’s time to switch to a switcher property. Begin conversation by saying: You know that property is a bit above what price range you are looking in. I’m logging in to the MLS right now. Tell me, is that neighborhood the area you are looking in or would you consider x or y neighborhood.

OR: Oh, that’s priced at _____________. Is that the price range you are looking for or is there another range that suits your better? Then go to following questions:

1. Tell me, how many bedrooms do you need?
2. How many bathrooms do you need?
3. What style are you looking for?
4. Two car or three cars?


OTHER TRUST BUILDING QUESTIONS:


• So, how long have you been searching for a home?
• How have you been going about your home search?
• Are you working with a realtor you’re committed to? Who would that be?
Perhaps I know them?
• I would be happy to call and give them the MLS# or I can give it to you…
Which would you prefer?
• Do you own your own home or are you renting?
• Are you tied to a lease or are you renting month to month?
• OWN: Do you need to sell before you buy another home? Would you be
interested in a FREE CMA to see what your present home is worth?
• What is the property address? Then go in to listing questions?
• How long have you been looking?
• Have you seen anything that you’ve liked so far?
• What prevented you from buying?
• Have you been prequalified by a lender?
• What price range do you have in mind?
• How soon do you want to be in a new home?
• If we find the right home, are you prepared to make a decision at this time?
• On a scale of 1 to 10, with 1 meaning you are not interested at all in
purchasing a home and 10 meaning you want to be in a home as soon as
possible, how would you rate yourself?
• Anything less than a 10 – What would it take for you to move to a 10?
• What features do you have to have in a home?


AGENT: Well, given that criteria, I have 17 listings that match those criteria. I’d like to schedule a time to show you these properties. I can have you come in to my office; I can pull them up on the computer with the virtual tours if they have any and print out any interior pictures in color if you need them. Which is the best time to do that? Weekdays or weekends? Fantastic. What is your schedule like this afternoon? Would 3 or 4 work? We’ll schedule it for 4. Here is my address.

If they say, CAN YOU SEND THEM TO ME?

AGENT: I can be more than happy to do that. But let me explain why I’d like you to come in to my office. I’m a buyer’s specialist. I only work with buyers. I know the market better than anyone since I preview over 200 properties each month. My goal is to save you time by taking the time to sit down with you and go over exactly what you are looking for. I know the market better than anyone and my goal is to save you time by narrowing down your search options eliminating the need to drive around from property to property wasting your time. Does saving time sound important to you?

If NO: Oh, are you a neighbor? That’s a great neighborhood isn’t it? Tell me, do you know anyone that would be intersted in buying in this neighborhood.

CALLER: Yes.

AGENT: Great. Would you mind if I gave them a call and invited them to come and see this property?

Terminator - the Sarah Connor Chronicles

7 Tips to Real Estate Agents' Success

The strong housing market within the U.S. coupled with the explosion of the Internet has lured thousands of individuals into real estate sales. Unfortunately, entry level real estate agents face incredible obstacles from experienced agents to an initial 6 month sales cycle time. Read how these 7 tips may help you achieve success in real estate sales.

7 Tips to Real Estate Agents' Success
By Leanne Hoagland-Smith

With over 2 million real estate agents according to the National Association of Realtors (NAR), becoming a successful real estate agent takes more than just a license and a knowledge of current laws and regulations.The first year drop out range estimated to be from 40% to 80% demonstrates that many real estate agents are not as successful as they could be and research suggests that 90% give up after 3 years. The following 7 tips may help you avoid becoming one of these statistics.

1. First and Foremost YOU are a business.
   Real estate agents work for a broker, but are independent, commissioned sales people. This means that you are a small business and must run your practice as a business. Again, remember you are a small business owner.



2. Embrace a Planning Attitude
   If you don't have a plan, then you are on some else's plan - usually the successful real estate agent's. During the last 10 years, what I have learned as a performance improvement consultant or coach is that most people place more value in planning a trip to the grocery store or a vacation than planning their lives either professionally or personally.



3. Research Your Market Plan
   Since you, as the real estate agent, are responsible for your own expenses, do your research specific to your marketing plan within your strategic plan. Time spent in constructing your marketing plan is definitely well spent. NOTE: Remember a business plan usually is data driven, while a strategic plan identifies who does what by when.



4. Establish Sales Goals
   Using your strategic plan, establish sales goals. If you are new to this industry, it may take 6 months before the first sale. HINT: Use the W.H.Y. S.M.A.R.T. criteria for goal setting.



5. Create a Financial Budget
   Budgeting is critical given the up and down of this volatile market place. Your financial budget should plan for your marketing costs, any additional costs such as education and your forecasted income.



6. Make Managing Yourself a Priority
   Building a business is not easy. You must learn how to manage yourself especially in the area of time management, ongoing real estate training (continuing education units) and personal life balance. Real estate is said to be a 24/7 business much like any small business. However, it is important not to lose sight of your personal life including family, friends, physical health, etc.



7. Find a Mentor or a Real Estate Coach
   Going it alone is not easy. Take the time to find a mentor who can help you steer through some of the known obstacles and help you during the "peaks and valleys." If you have the resources, you may wish to hire a real estate coach or an executive coach who specializes in small business help and sales.

Being an incredible sales person and entering the real estate market does not guarantee similar sales success. However, these 7 tips may help you avoid many of the pitfalls by not being one of the four real estate agents who quit within one year or one of the nine who give up after 3 years.

Do you want more sold homes? Then register for FREE downloadable Mega Real Estate Agents Sales Profile assessment http://www.processspecialist.com/real-estate-coach.htm

Do you want more loyal customers? Then visit http://www.processspecialist.com/customer-loyalty.htm for the FREEE downloadable Customer Loyalty Assessment.

Please feel free to contact me, Leanne Hoagland-Smith, Your Chief People Officer and Business Coach for individuals and organizations that are TIRED of not being where they want to be and truly want success. 219.759.5601

Article Source: http://EzineArticles.com/?expert=Leanne_Hoagland-Smith
http://EzineArticles.com/?7-Tips-to-Real-Estate-Agents-Success&id=198978

Two Ways to Market your Listing Online for Free or Low Cost

With so many web based applications out there, it seems like a day doesn't go buy that I don't get an email in my inbox asking me to buy this, use this, promote here, go here or there. It seems like there are endless resources out there that would love to have your money to promote your services or listings. The TWO services that I recommend are www.postlets.com and www.classifiedflyerads.com. The latter is FREE while the former charges a nominal fee. I recommend both as you should realize that you have to spend a little money for that $10,000 commission you are about to receive for Listing your neighbors home. :)

Don't have a listing? Why not borrow an office Listing from an agent and promote it to troll for buyers? In fact, borrow several Listings. In our office at least, all of our Listing Agents let the newbie agents "borrow" their listings. After all, they want that Listing sold and the more exposure the better. So, the more Listings you borrow, the more exposure you get.

These services post for free to most of the major search engines as well as real estate related directories. And, these services make a very nice flyer in HTML code for you to use. Click here to see a sample of what you can get if you use these services.

Happy Posting.

Script to Explain Why Buying a Home in Today's Market Makes Sense for your Buyer's Sitting on the Fence

No one can put a price on the intrinsic value of homeownership, and there are many factors at play in today's market that can help make the dream of owning your piece of California a realty.

The pace of home-appreciation may be slowing, but owning a home is a solid, long-term financial investment. Interest rates on long-term, fixed and adjustable rate mortgages are at historically low levels which make it easier to qualify for a loan and monthly payments more affordable. The length of time a home remains on the market today before it is sold has increased significantly since 2004, while the multiple-offer syndrome that dominated the industry just a few short years ago has subsided considerably. Both of these factors mean you have more choices and time to shop when it comes to selecting a home today.

Things for agents to consider in order to survive in the 2008 Real Estate Market

Our market is still in the process of declining. The forecast for California at least is for a further decline in sales by at least 4 percent. However, the most affected areas will be the inland affordable areas where they had the biggest increase in new construction. The moderate and lower-end homes had the majority of subprime or no-money-down mortgages. If they bought at the peak of the market and have no equity, they are in danger.

So, BUYERS are VERY IMPORTANT in this market. Where in the past year you might have had Listings not sell and you were scared to get more, now the goal should be to have as many Listings as you can possibly carry. However, you want Listings that are PRICED RIGHT. DO NOT take an overpiced Listing. In our market, we are starting to see lots of activity with foreclosures and REO listings so we should see a depletion in this area. However, more are on the horizon as rates adjust and homeowners are unable to handle their new payments. Also look towards auctions and short sales and more emphasis on builders who are looking to move existing inventory.

BACK TO THE BASICS is what I tell you. Now is the time to work harder than you have, join network groups, hold open houses, develope a program for FSBO's and Expired Listings and pick a farm and build on that farm as your base and get your technology up to speed. You make your market every day, regardless of the market. Remember, not all markets are the same. In any given time there are more than enough sales going on to have a great year, so go for it.

Post on your office work station and home office this phrase, "I'M A SURVIVOR". Live that mantra every day and you will make it through this market and come out the other side on top.

Remember these things:

1. Get your sphere and past clients in order and develop a consistent campaign to stay in touch with them.
2. Prospect a minimum of 3 hours per day
3. Develop and maintain a web presence as this business is becoming a web based platform. If you do not have this you will be left in the dust.
4. Set up a BLOG. Blog and blog often.
5. Brand yourself and your business.
6. Find a FARM and make sure you work the pockets of growth.
7. Systemize your business to grow.
8. Have a 1, 3, and 5 year plan.
9. Work on a referral source.

Helpful trick to get an Expired Listing to talk to you

Many of us are experiencing more expired listings in our market place then we've seen in years.

With the excess inventory, there are simply too many listings out there for the number of buyers available. With that in mind, let me share a strategy I utilized during my career in pursuing Expired listings.

Whether you mail, have couriered or have hand delivered, this flyer frequently opened the door for conversation:

5 Reasons a Home Sells

1. Location
2. Price
3. Terms
4. Condition
5. The Agent You Select

You Control FOUR of these!

Which is the reason YOUR HOME DIDN'T SELL?

This allows the seller to vent their frustration with their listing agent (if they have any). It also opens the door for conversation about how you are unique and what you're going to do to sell their home.

That's it. It's as simple as that. For those of you who are not calling on Expired Listings, you are missing an excellent source of business out there as these people have already raised their hands and said, "I want to sell my house." Good luck and stay productive.

Planning For a Successful 2008!!!

When knocking on doors works

Knocking on doors in your farm is the surest way of adding mets in to your database. Some of the most successful agents that I know of in our market, consistently get out and pound the pavement to meet people and drum up business. When knocking on doors, there are some simple rules that you need to follow:

When knocking on doors works
1. Walk around the block - a. Nosey Neighbors
2. Walk enthusiastically - a. 5 steps as oppose to 4
3. Knock enthusiastically - a. No doorbell
4. Stand back - a. Three or four paces
5. Face up the street - a. Less threatening
6. If you’re a man, whistle - a. Happy and harmless
7. Wait until they acknowledge you - a. Wait for them to speak then turn your head
8. Face them and smile - a. You can ease the shock by smiling
9. Bring their defense barriers down - a. Company name tag b. Company logo shirt
c. Ease their fears

Door Knocking Script Prior to Open Houses

Good morning/good afternoon, my name is ____________________ with Keller Williams Real Estate. My company has listed the home at ______________________________ and has asked me to hold it open and invite all of their neighbors to attend our open house on ____________(day) from _________(time). We’ll be serving refreshments, and I’ll also have some great information about what’s happening in the real estate market in the neighborhood. Will you be able to attend? (Listen to their response)
If “YES”. Great! I look forward to seeing you. By the way, do you know anyone who would like to move in to your area?
If “NO” That’s too bad. Do you know of anyone who would like to move into your area? (Listen to their response.)

Why picking a farm is important

If you look at them most successful agents, you will see that they usually are dominant in a certain geographic location. What this tells us is that they have been very successful in targeting a specific group of people to make their business thrive. Farming is much like advertising. You will hear over and over that consistent touching to your target market will yield results as people will eventually buy your product.

I remember when I first got in the business, I did not pick a farm. Instead, I had a hard time choosing and always felt scared to pick a farm for fear that certain agents were too dominate in the areas that I wanted to farm and that they got all the business anyway. Boy was I wrong.

Now I know that it only appeared that they had all the market share and there is plenty of business for all. After all, not all people like vanilla ice cream right?? Some might like rocky road. :)

When picking a farm, you need to ask yourself 3 questions:

1. Where do they live?
2. Who are they?
3. What do they like?

There are also 3 types of farms you can have in your real estate business. They are:

1. Geographic - this answers the where do they live question.
2. Demographic - this answers the who are they question.
3. Psychographic - this answers the what do they like.

Smart agents have discovered that farming can give them a tremendous help in building their real estate business. Although it may take time, you will find the momentum to build upon itself over time and you will yield results in your real estate either in or out of the farm just because you are targeting a specific group of people. The key is "consistent" touching of that farm in order to yield results.

If picking a geographic farm in today's market, be sure and see that there is a 10-15% turnover of homes in that area each year. After all, you want to make sure you are in an area that will be selling.

Also, you don't need to spend a lot of money farming. Taking the time to walk the farm, knocking on doors and meeting the people can be very fruitful and yield great results.

Develop a plan to touch all of the people in your farm that you meet at least 36 times a year either face to face, telephone, email, snail mail or local events that you host like community yard sales, neighborhood block parties or social gatherings.

Always remember, consistency in advertising pays off. So will farming. Good luck.

How to CONVERT Sign Calls or Buyer Calls from Ads you place

Here are some simple things to remember when a "potential" prospect calls you on your listing or a listing you advertise on the web or in print. Following these steps will insure greater success in converting these prospects to actual buyers. Practice them daily until you feel comfortable with them.

Goals for a sign call or ad call is to:
1. GET AN APPOINTMENT
2. To get a solid name and phone number to build your pipeline

The goal of the prospect is to:
1. Get information for so they can eliminate the property.
2. Eliminate you as a realtor.
3. Invest their time wisely.

So, when a caller calls in on an ad or listing remember that the person who asks the questions controls the conversations, whereas the person talking through the conversation dominates the conversation.
So, the key is to ask questions.

Caller: Yes, I’m calling on the property you have listed on Craig’s list/LOCATION. Can you tell me how much that property is?
Agent: That’s a great property. Everyone is calling in on that property. So I assume you are in the market to buy?
Caller: Yes.
Agent: Hold on just one second. I need to grab that file. While I do that, do you mind if I ask you what attracted you to that home?
OR Let me look that up. While I’m looking that up do you mind if I ask you another question? What price range do you feel comfortable with? If the home is out of their price range, then it’s time to switch to a switcher property. Begin conversation by saying: You know that property is a bit above what price range you are looking in. I’m logging in to the MLS right now. Tell me, is that neighborhood the area you are looking in or would you consider x or y neighborhood.
OR: Oh, that’s priced at _____________. Is that the price range you are looking for or is there another range that suits your better? Then go to following questions:
1. Tell me, how many bedrooms do you need?
2. How many bathrooms do you need?
3. What style are you looking for?
4. Two car or three cars?

OTHER TRUST BUILDING QUESTIONS:
1. So, how long have you been searching for a home?
2. How have you been going about your home search?
3. Are you working with a realtor you’re committed to? Who would that be? Perhaps I know
them?
4. I would be happy to call and give them the MLS# or I can give it to you…which would you
prefer?

OTHER TRUST BUILDING QUESTIONS:
1. Do you own your own home or are you renting?
2. Are you tied to a lease or are you renting month to month?
3. OWN Do you need to sell before you buy another home? Would you be interested in a
FREE CMA to see what your present home is worth?
4. What is the property address? Then go in to listing questions?

or

1. How long have you been looking?
2. Have you seen anything that you’ve liked so far?
3. What prevented you from buying?
4. Have you been prequalified by a lender?
5. What price range do you have in mind?

or

1. How soon do you want to be in a new home?
2. If we find the right home, are you prepared to make a decision at this time?
3. On a scale of 1 to 10, with 1 meaning you are not interested at all in purchasing a home and
10 meaning you want to be in a home as soon as possible, how would you rate yourself?
4. Anything less than a 10 – What would it take for you to move to a 10?
5. What features do you have to have in a home?


AGENT: Well, given that criteria, I have 17 listings that match those criteria. I’d like to schedule a time to show you these properties. I can have you come in to my office; I can pull them up on the computer with the virtual tours if they have any and print out any interior pictures in color if you need them. Which is the best time to do that? Weekdays or weekends? Fantastic. What is your schedule like this afternoon? Would 3 or 4 work? We’ll schedule it for 4. Here is my address..........

If they say, CAN YOU SEND THEM TO ME?

AGENT: I can be more than happy to do that. But let me explain why I’d like you to come in to my office. I’m a buyer’s specialist. I only work with buyers. I know the market better than anyone since I preview over 200 properties each month. My goal is to save you time by taking the time to sit down with you and go over exactly what you are looking for. I know the market better than anyone and my goal is to save you time by narrowing down your search options eliminating the need to drive around from property to property wasting your time. Does saving time sound important to you?

If NO: Oh, are you a neighbor? That’s a great neighborhood isn’t it? Tell me, are you intersted in selling your home? If NO, then do you happen to know someone who would make a great neighbor and might want to buy this property.

Remember, scripting is the key to success in real estate. You can be brand new as long as you know what to say in a conversation, will ensure your success.

For my daily FREE scripting call, email me for more information.

10 Reasons to be Optimistic in Today's Real Estate Market

1. FSBO's (Fastest Source of Business Opportunities), Expired's, Cancelled and Withdrawns need realtors now more than ever.
2. Less competition amongst agents as NAR estimates there will be 500,000 LESS agents in 2008.
3. Builders and developers don't treat us as step children now. They need us now more than ever as well and they are making great deals to buyers. So take your buyers to new home developments if possible. It is a very easy escrow.
4. Sellers don't try and negotiate on your commissions as much as they did in the past so you can ask and get that 6% on listings. What they heck, try for 7% and 8%.
5. Investing opportunities are aplenty. Try and find something to buy if you can afford it. Why buy when it is too late and you are competing against other buyers.
6. Tumbling prices means more opportunites for FIRST-TIME homeowner's to enter the market. In San Diego, it is 40% of the market.
7. New niche opportunities in foreclosures and short sales. Know how to do these markets the smart way. Ask me and I will tell you for FREE.
8. Your opporunity is here to show yourself as a Real Estate Professional and offer advice to all who ask. They see you as the one with all the knowledge as you have your pulse on the market.
9. Increased inventory means excellent choices for your buyers.
10. This market will also force you to SHARPEN your skills and if you do that, you will be ahead of your competition.

Thoughts for the 2008 Real Estate Market

With 2007 behind us and a new 2008 at our feet, I am reminded of past markets and what being in this industry really means. Remember, this is a market that is, was and will always be cyclical. To those of you who have never been in a market like this, here is my advice:

• There is NO SUCH thing as a BAD MARKET. Bad markets are only created in your head or mindset. You can do just as much business in this market as you could when it was traveling at warp speed. In fact, if you see the data being released, home sales are on the rise. Don't buy in to this as a bad market just because they say prices are falling. In real estate, there are two markets. A seller's market or a buyer's market. END OF STORY. So right now we are in a great buyer's market. I call it buyer's revenge for dealing with seller's who had control of the ball. So my suggestion, go find a buyer who wants to find a deal as there are plenty of them out there.
• The economy remains good. Not only do we have low interest rates, but most areas of the country are experiencing economic gains. Inflation is also under control and the gross domestic product is growing.
• Real Estate is a LONG-TERM INVESMENT. Shall I repeat this??? Since when was real estate meant to be traded like a stock. Buy it and then six months later sell it for a huge gain?? Nice...but this doesn't always happen. Those that got stung in this cycle, are the ones that will pay. But the smart money knows this and is now out there looking for these deals. Be the one to find that smart money and make these deals.
• Bad news is good news and vica versa. The media always makes negative headlines to sell papers and get the publics attention. But if you read most articles, there are always silver linings in evey story.
• Not all markets are national, markets are local. This means that most "national" stories relate to a national theme. Don't buy in to this. Look at your "local" market and see where the business is and go get it.
• Use advertising that works. Consider this in your ad's, emails and wherever. "We are experiencing one of the best buyer's market in years. If you are considering buying, contact me and I will show you the great deals that are out there." Investigate all opportunities in your market whether they are FSBO's (Fastest Sourc of Business Opportunites), Expired's (Sellers who have already raised their hands), Foreing buyers because of the weak dollar, First Time Buyer's (hold seminars for this), it's easy and Investor Seminars (getting sellers to sell invesment property and move them in to an industrial TIC so they won't have the headaches of being a landlord.

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