When you as a Real Estate Agent adapt an Expired plan to your Market Area, you need to adjust that plan to fit “where” you are working expireds.
Before I give you examples of three clients that have modified Expired Plans to meet their areas, I want to make sure everyone is clear on what the goal of working expired listings is: “getting the listing appointment.” Now, actually getting the listing at a marketable price and then selling that listing are two other articles, but here we are going to be talking about “getting your foot in the door.” I have three clients in total different market areas that use three totally different approaches.
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The City Agent: The first Realtor is located in the city. He uses the ExpiredRealEstateLeads.com program to locate the Expired Listings every morning. (Let me stress how important it is to work Expired Listings daily. It is crucial to contact them right away. A large percentage of Expireds will relist immediately. If you are only working Expireds on say a weekly basis, you will not be able to get your foot in the door simply because you are too late.)
This City Agent works Expireds in areas that he farms and is very familiar with. There are also a very large percentage of homes in his area that ARE NOT on the Do Not Call list. This agent is on the phone calling Expired Listings every day from 9:30 am to 10 am without fail. His intention with the phone calls is to see if the homeowner is still interested in selling their home and to make an appointment to come out, that day if possible.
After making phone calls, setting appointments and talking to those that are home; this City Agent then spends 30 minutes making up packets to drop off at the homes that he was not able to talk to. In these packets he includes some marketing materials about himself, some market update information about the current conditions in the area in their price range, and personal letter about why he wants to list their property and why he thinks he can sell it.
Between 4-5 pm, this City Agent then drops off these packets hoping to run into home owners that are getting home from work. Because traffic and parking are an issue and his market area and neighborhood are condensed, he creates a plan and walks the packets to the front doors of the 4-5 Expired listings for the day.
Now there is continued follow up that he does if he is not able to get an appointment right away, he will follow up two days later with a phone call to make sure they received the packet and weekly phone calls for the next two weeks along with one other mailing that first week and then weekly mailings for the next five weeks.
Using this approach gets this City Agent 3-4 listing appointments a week and 1-2 sellable listings.
Would this kind of approach work in your area?
The Suburban Agent: The second client I am going to tell you about lives in an upper middle class suburban area in the Midwest. This Suburban Agent’s area is very different than the first one I told you about. 99% of the homes are on the Do Not Call List and calling just is not something that works for her area.
Many of the neighborhoods have a no soliciting policy and even if they don’t have a formal posted ordinance regarding door knocking, it is something that is frowned upon and not something that works in her area.
This Suburban Agent also looks up the Expireds through ExpiredRealEstateLeads.com daily, but what she does is makes a list of the homes and drives by them taking a picture of the front of the house.
Because so many agents are sending the same thing, including information about themselves and the company and a standard cover letter, she has found the way for her to stick out is to send a greeting card in an envelope that is personally addressed to the homeowner.
The greeting card is in an envelope that gets opened and the card has a photo of their house on the front. On the inside is a handwritten note that is personally addressed to the homeowner that says simply “I want to sell your house, and I think I can. I know you will be getting a lot of mailings form numerous other agents, but I would love to meet with you to show you why I am different. Please call me so we can set up a time to meet. I look forward to meeting you.” And she signs her name and includes a copy of her business card.
The Suburban Agent uploads the picture, creates the card that then is printed in her handwriting and sent that day and it costs her less than a dollar, plus the cost of the stamp.
Now, like the City Agent, this Suburban Agent doesn’t just make that first initial contact and leave it at that. She sends out a post card through the same system 3 days later and another card 3 days after that. She continues with cards weekly for four more weeks and then puts them on a monthly card and postcard campaign which is automated through this system.
A couple of years ago in her area it would have been considered a waste of money and time to continue to follow up with this lead for a year. However, she has found that many homeowners in her area have decided to pull their home off the market for a period of time before putting it back on the market. This Suburban Agent is going on 4-6 listing appointments a week and over half of them have been expired for over 3 months.
Would this kind of approach work in your area?
The Rural Agent: The last client of mine I want to tell you about today lives in a rural area in the North West. This Rural Agent has actually hired a marketing person that gets compensated just for getting listing appointments. That is her only responsibility on the team five days a week and she rarely goes a day without getting at least one listing appointment, usually it is 2 or 3. That is 10-15 listing appointments a week.
How many of you on the call are drooling over the thought of having someone else doing all of your prospecting so all you had to do is go out and do the listing presentation and sign listing agreements all day?
Like I mentioned, she does this in a rural area so door knocking would definitely not work in this area. Because she is such a high volume agent in a sparsely populated area, she does cover several counties in order to hit her production goals.
Now the marketing person on this team has a number of different scripts to use when she calls, but she never uses them. She was born and raised in a small rural community and knows most of the people (or some mutual acquaintance anyway!) in the tri-county area. She just calls them, starts to chat with them, builds rapport and sets the appointment for the lead agent.
If she is not able to reach the people by phone, she begins compiling a packet that again includes information about the team, a sampling of the marketing materials they use and a personal handwritten note to the seller.
This person then maps out the homes that Expired that day and right after lunch, begins to drive to each of the homes she was not able to talk to that day and personal drops off a packet. Again, her hope is to run into the seller and set that appointment. She has even received calls to set up listing appointments after she has run into the neighbors while out there, chats with them for a while and ends with a half joking remark to the neighbors telling them to encourage the sellers to call them if they are serious about getting their home sold. She even gets the neighbors working for her!
Again, she has a follow up plan in place to follow up the next day with a phone call to make sure they received the information, another mailing 3 days later, and again three days after that. Weekly calls and mailings for the first six week if the property does not relist or they inform her they would like wait for an extended period of time and then she just puts them on her monthly Lead Farm Mailing after that and never takes them off. She figures they will sell someday and if not, she has enough rapport with them after the personal contact that she might get (and has gotten) referrals from them.
How many of you think this type of approach might work in your area?
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I gave you examples of three very different areas. I tried to choose areas that would represent the majority. But if I didn’t describe your area, what could you do to a standard marketing plan that would make it fit your area better?
I work with an agent that works in very elite areas that have household help that open their mail for them and discard any junk mail. She also uses the personal greeting card system with a very short personal handwritten message inside.
I work with agents in resort and second home markets that have owners that live in other states. Most of their contact is done through high quality mailings.
I have another agent in a very high tech area so his mailings direct them to his website where most of the expireds decide to email him and set up a listing presentation. ------ What might work in your area? Take out a piece of paper and take 20-30 seconds to describe your market area and list one thing that you might want to try in your market area. ----- Real Estate Coach Cheri Alguire helps Real Estate Agents get more listings and make money in any type of market. To find out more about her Expired Real Estate Leads Program visit http://expiredrealestateleads.com/ or visit http://www.prorealestatecoach.com/ to find out about her Real Estate Coaching Programs.
I am a real estate business coach. I have worked with hundreds and hundreds of clients over the past 7 years, and, you know what? Something has changed with most of my clients’ businesses over the past few years. My guess is that if you are a real estate professional, this is also true to some extent for your business as well.
I will tell you one other thing about many of my clients; most of them are exceeding their goals and many are having their best years yet.
They are in all different types of markets. I have clients in markets across California that have had 30 percent decline in values and record breaking foreclosure rates, and clients in areas of Tennessee where Days on Market are just now beginning to creep up there and everything in-between.
I have clients in many different areas across the United States. I have clients in the Midwest, clients on the West Coast, and clients on the East Coast.
I work with agents that target many different price ranges and niches of clients.
I work with agents that are solo agents; I work with agents that have mega teams, agents that have been in the business less than two years and agents that have been in this business for over 30 years.
Most of my clients have been successful over the past year because they have really learned to do one thing extremely well. Work Expired Listings. Now three years ago, most of them where having success because they mastered working FSBO Listings, but they all really had the pulse of their markets and shifted their focus early and deliberately to Expired Listings.
On May 20, 2008 I did a TeleSeminar on working Expired Real Estate Leads. To listen to that TeleSeminar go to www.ExpiredRealEstateLeads.com
I will be sharing with you over the next few weeks what I shared with the participants of that TeleSeminar.
What I am NOT going to give you over the next several weeks is scripts and dialogs of what you need to memorize to say or what to send to potential listings. Most of you already have a “plan” or “scripts” or ”letters” you picked up from a speaker or a book, or from your expired system or from the Top Producer Library. If you don’t, you need something to start with. Go to Realtor.org and look up the article titled Prospecting Plan for Expireds. There is a copy of that article posted on the Tips Page at ExpiredRealEstateLeads.com.
What I AM going talk to you about over the next few weeks is how to take that plan from NAR, or one from another source, and adapt it to fit
Your Market Area
Your Style
Your Individual Prospects
I am sure you enjoy the stories over the next few weeks of
The real estate market is slower right now and more and more home sellers who want and need to sell are not doing so as quickly as in the past.This means there is a bigger pool of potential clients in the expired listings that pop up every day. How:
The best place to find your Expired Listing Leads is through a program that will check your MLS System, double check them to make sure they have not been immediately re-listed, cross-reference them with the local tax records, find owners’ names and contact information including telephone numbers, and then check those numbers against the Do Not Call List.Now, this can all be done by your administrative assistant, or by you, but that would be an extremely time consuming.It is best to use a service like the one at ExpiredRealEstateLeads.com
Who:
Your assistant can get the list - and apply a preset action plan - and even do the mailings to the Expired Listing, however, an experienced agent or team member that is experienced at calling leads and setting appointments must also be involved.Once the appointment is set, the agent do the listing presentation must be good converting that appointment to a signed listing contract.Chances are, you will be in competition for this listing and the potential client has already had their house listed for a period of time and they are clearer on what they want to see from their new agent.
Where:
The expired real estate listings you are going after will be in the Farm areas you work, in the areas and neighborhoods that are selling the quickest in the current market in your area, and in the price ranges that are currently selling the quickest in your current market conditions.It is imperative that you stay extremely updated with these ever changing market statistics in order to best direct your efforts.
When:
You need to contact expired listing leads immediately and continuously.This means your first contact should be the day the property comes up as expired.Many expired listing leads will want and need to get their house back on the market as soon as possible.It is also important to note that there will be a multitude of agents contacting this lead on the first day or two after it expires.For those leads that take time to make up their mind in who they will relist with, it will be important to have continued contact that lessens in frequency of contacts over the next days, weeks and sometimes even months ahead.
What:
A combination of phone calls, mailings, drop-bys and even emails when that information is available.Different people respond differently to different forms of contact and you are never sure which one will be the best method for this lead.
Remember, the goal of these contacts is to get the appointment and eventually the listing!
While training for my half-marathon, I needed some knowledge of running fundamentals.In deciding to become a student of the game of running, I immediately headed to the nearest bookstore.Let me tell you, there are a LOT of books on running and I looked through every single one.In fact, I spent so much time at the bookstore browsing through running books; I got more than one weird look from the sales clerk!
Once I read these books, and the other three that I’d purchased, I also spent some time on the Internet.I took a lot of notes and, along with my trainer, eventually developed a training program I could stick to.Beyond that, the information I learned gave me the ability to see the finish line clearly.Before this, both the half-marathon and the actual running of it were nothing more than a fuzzy goal in my mind.
When you take the time to educate yourself, these fuzzy goals become clearer, make more sense, and you can finally begin to truly visualize yourself meeting them.
What I want you to do – RIGHT NOW – is make a list regarding your goals.I want you to answer these questions:
What is the category my goals fall in?
What information do I currently have on this category?
What else do I need to know?
Where can I go for this information?Think about the Internet, bookstores, libraries, coaches and/or trainers, and possible mentors that already have this information.
What do I hope to learn?
How will this make a difference in my meeting my goals?
As you answer these questions and seek the knowledge, you will gain power.Your goal will become more defined and you will be even more anxious to get started!Education is a strong motivator for success.Educate yourself first and success will follow!
Knowledge is power!Learning has never been easier.You can research practically anything on the Internet.Books have been written on virtually every subject known to man.Don’t worry if you don’t know how to do something – the information is out there to teach you.
Cheri Alguire is a real estate, business and life coach who partners with you to help you take your business and your life to the next level of success. For more information on Cheri Alguire's book 13 Lessons Learned in 13.1 Miles, visit www.13lessons.com For more information on Cheri Alguire can partner with you to take your real estate business to the next level, please visit http://www.CoachCheri.com
I can honestly say that – WHATEVER YOUR GOAL – learning the game, becoming a student of the game, will help you get you the results you want.Why?Because you will take the time to inform yourself of the path ahead, and by doing so, you will increase your chances of success by a very large margin.
Regardless of the event, the industry, or the focus of your goal – it is critical to learn about the game, the rules of the game, and the best way to meet the objective of the game.The only way to do this is to become a student of the game.
What does all this mean?Honestly, it’s a lot simpler than it sounds!Delving in a little deeper, let’s use an example of publishing a book along with an example of running.Say your goal is to publish a book you have written.You will want to follow these steps:
1.Learn About the Game:Determine the category your goal falls in.In the example of publishing, is your book fiction or non-fiction?In the example of running, are you interested mainly in getting fit or, do you need to know more about endurance for, say, a half-marathon?
Once you know the category your goal falls in, you will know where to begin gleaning information to educate yourself.If you have written a non-fiction book on Chinese Wedding Traditions, for example, learning about publishers that focus on fiction isn’t going to help you much.Taking that a bit further, you will need to focus on the type of non-fiction book you are wanting to market.
Likewise, if you are mostly interested in endurance training, learning the ins and outs of strengthening your body for a half-marathon are most important on your list.While you could certainly receive worthwhile information by looking at fitness as a whole, you needed to focus more in order to truly “get it.”
Know your goal.Know the goal’s industry.Know the category.
2.Learn the Rules of the Game.Okay, so you know the category your goal falls into.Now, it’s time to learn the rules for that category.Again, using publishing as an example, you want to find the best publisher for your book on Chinese Wedding Traditions.Where do you start?What about the example of learning how to gain endurance for running a half-marathon?Where would you start?
Regardless of the industry, regardless of the category, there are people who have gone before you.Many of those people have written books, articles, created Web sites, and train or teach others how to be successful.These are the resources you want to tap!I recommend starting on the Internet because it’s a free resource that can give you a ton of information very quickly.
After you’ve spent some time researching on the net, you may find books, audio-books, DVDs, or even organizations devoted to what you’re trying to learn about.It’s completely up to you how you choose to educate yourself at this point.You can join some of these organizations, hire a trainer or a coach, purchase a book or five, or any combination of the resources available to you that you want.
Educate yourself.Study the rules.Learn the rules.
3.Learn the best way to meet the Objective of the Game.You’ve spent some time educating yourself on the ins and outs of the industry and the category of your goal.You have a lot more information about this than you previously did – CONGRATULATIONS!Now, take this information and you apply it to your personal goal.
Back to our example of publishing a non-fiction book on Chinese Wedding Traditions, the research conducted should give a clear idea of the correct publishers that would be interested in this type of book.Along with this, the knowledge of how to approach these publishers should also have been learned.Now, you know the proper way to begin meeting your objective.
In the goal of running a half-marathon, you should learn about running in particular.How you need to train and what to do each step of the way, such as the best way to increase your endurance, stretching exercises for before and after you run, and additional tips that will help you plan your attack.All of this knowledge will allow you to better plan so you will be ready to run a half-marathon when the time comes.
Research the rules.Understand the rules.Plan your attack.
4.Becoming a Student of the Game.By following the above three steps, you can become a student of any game!This is the best way to achieve the goal in front of you, regardless of what your goal is.
You absolutely need to acclimate yourself as much as possible.This will allow you to SUCCEED, which is the point of making a goal, isn’t it?
When you take the time to educate yourself and plan accordingly, even the seemingly most difficult objectives become easier to manage.
üLearn About YOUR Game.
üLearn the Rules of YOUR Game.
üMeet YOUR objective.
People all over the world are learning new things every day.Education is an important facet in life, in all professions, and in almost every single thing we do.
When you were a child, you had to learn to tie your shoes.When you were a teenager, you had to learn how to drive.When you entered college and/or the workforce, you had to learn the rules of your surroundings.Our entire lives are made up of “learning the game” and of being a “student of the game.”Meeting your goals are no different!
Running is like the Real Estate business.You can do it by yourself.You can do it with a group.You can do it anywhere.Other than a good pair of running shoes or possible a telephone, you don’t need any special equipment.With these facts in mind, I figured learning to run or running a business wouldn’t be that difficult.After all, running is one of the most popular forms of fitness and there are so many small businesses out there.It couldn’t be that difficult with so many people involved in the sport, right?
Wrong!When I decided to get out there and just do it, I found it far more difficult than I’d anticipated.Who knew running (the sport or running a business) would be so hard?I realized, quickly, that I’d not only underestimated the sport itself, but my own ability to acclimate by just doing it.
You may find yourself in a similar situation, depending on what your overall goals are.It’s not fun feeling like we’re in over our head and goals are ripe for this.What do you do if this happens to you?Basically, you have three choices:
Give up.Wow, this is so much harder than I thought!I was completely deluding myself into believing this is something I could do.No way can I accomplish this goal at this time in my life, so I’m going to set it aside and focus on something I feel more comfortable with.
Blindly forge ahead.Okay, so this is harder than I thought, but that’s alright.This is my goal and I’m determined to reach it, so I’ll just forge ahead.Eventually, everything will sink in and I’ll be more comfortable and everything will be fine.
Learn the game.Maybe you’re feeling a little discouraged, but you’re not ready to give up.You’re also not ready to forge ahead without more information.So you decide to learn the game, inform yourself, and then plan your strategy.
What are you learning to “run?”You might not be learning to run long distance, but you might be learning to run your business in slower economic times.Or you may be learning to run your Real Estate Business in a Real Estate market that is so very different than when you first learned it.
What are you going to do?Give up?Blindly forge ahead?Or learn the game?The choice is yours to make.
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Cheri Alguire is a real estate, business and life coach who partners with you to help you take your business and your life to the next level of success. For more information on Cheri Alguire's book 13 Lessons Learned in 13.1 Miles, visit www.13lessons.com For more information on Cheri Alguire please visit www.ProRealEstateCoach.com
With the average days on market up in many markets across the county, more and more Expired Listings are showing up on a daily basis.Expired listings are a great lead source, but only if you have a plan to work locate, follow up with, list at an appropriate price and then market properly so that it will attract buyer leads and then sell. You can find Expired Listing on your local MLS system, or you can use a program like that one outlined at www.ExpiredRealEstateLeads.com that will do much of this initial research.
Then what?We will be talking about that in the weeks to come.Below you will find some information from NAR.What do you think about this plan?How would you modify it to fit with your market?Your style?Send me your comments and we will review that next week.
Use this plan as a basis for prospecting for expireds. Add other successful strategies you have tried as you learn more about what is most effective in your market.
Locate Expireds You should spend 30 minutes each morning, as early as possible, printing out a list of expired listings from the MLS.
Focus on expired properties in your market area or that you feel have a strong market appeal because of price or features.
Keep track of how long properties that you consider particularly salable have been on the market. If you learn that a listing is about to expire, offer a referral fee to the listing salesperson to let you negotiate a new listing with the seller prior to expiration. This gives you the inside track.
What other lead sources for expireds have you found helpful?
Develop a Tracking System You often will need several weeks of contact before you can convert an expired to a listing. Once they’ve had a bad experience with another real estate practitioner, expireds may not be immediately receptive to a real estate practitioner. You will need to demonstrate to them why you’re different than their prior salesperson.
Your tracking system should include:
Name, address, and phone number of expired
Information on the property from the MLS, including previous list price, and, if possible, days on the market.
Date that the listing expired and previous salesperson.
Date, time, medium of every contact, and response with an expired, in chronological order—for example, phone call at 9 a.m. on 9/14, offered free comparable market analysis. If you do mailings or e-mails to expireds, be sure to include those contacts in your tracking system.
Other tracking information you’ve found valuable:
Develop a Solicitation Schedule Although expireds are usually sold on working with a real estate salesperson, a bad experience with their previous real estate associate may make them distrustful of your promises. Keep this in mind, and focus your solicitation on providing consultative services that emphasize your past successes.
Week One On the day the listing expires Mail, or better yet drop off, a marketing package. If possible, do something to make your marketing package stand out from the many others an expired is likely to receive. Options include, sending it in a colorful or oversized envelope, adding a special delivery or personal/confidential stamp, or hanging it on the door in a plastic bag preprinted with you name and a drawing of a house.
Later that week Mailings: Send a follow-up letter or postcard if you don’t get an appointment. Again, provide a supportive message, such as “Sometimes, even a great home doesn’t sell right away.” Also include a statistic noting what percentage of your listings sell in 90 days or less.
What other techniques have you used for making initial contact?
Week Two Recheck the MLS to be sure that the home was not re-listed. Also drive by the house and look for a sign. Be alert to the possibility that a frustrated expired might become a FSBO.
Mail another marketing letter, emphasizing your success rate in selling listings in 90 days or less. Include information on any recent sales near the expired’s home, to subtly reinforce the going price range for the area.
Other techniques for maintaining contact:
Week Three
Recheck the MLS to be sure that the home has not re-listed.
Phone calls: Follow up to ensure that expired has received your service package. Use this opportunity to ask if you can come over and see the house so that you can keep your buyer clients informed of everything available in the neighborhood. Low-traffic times at open houses are a good time to make expired follow-up calls, suggests author Danielle Kennedy.
Buyer interest: If you have an appropriate customer, call expireds and ask if they would be willing for you to show the house to a buyer.
Other techniques for getting your foot in the door:
Week Four Recheck the MLS to be sure that the home has not re-listed. Drive by and check for a yard sign.
Listing presentation: If you’ve gotten an appointment and the mood is right, present a prepared listing agreement during your visit for signature. As an alternative, promise the expireds that you will complete a marketing plan of the property within 48 hours for their review. Present the plan, then ask for the listing.
Final letter: If you’ve been unable to get an appointment, send a final letter asking expireds if their interest in selling their property has waned. Enclose a personal marketing brochure and suggest that they keep it for future reference if they later decide to list again.
You have heard the arguments for having accountability in achieving your goals and you’ve decided to bring one or two or a dozen people into the process of achieving your goal. How do you start? What can you do to make sure the accountability functions as you want it to, as it’s supposed to?
Who to pick and how many do you need for your accountability circle? For some, this is an easy question – they have a best friend, a sibling, another family member, a professional coach or even a colleague that they immediately gravitate to. Who you choose, and how many, is a very personal choice, but there are a few things to think about when selecting the members (or member, because you may only need one person!) of your accountability circle:
1. If it’s a personal goal that has nothing to do with your business or professional life, consider choosing a person who is in your personal life over one from your business/professional life.
2. Likewise, if your goal is a business goal – you may have a stronger feeling of accountability if you choose those from your professional life who will have a better understanding of your goal and the reasons why you’re pursuing it.
3. Select an individual (or individuals) that honestly want the best for you. Choosing someone you’re in constant competition with may have one set of benefits (you may work harder to win over them), but you really need at least ONE person that is completely on your side.
4. Consider finding those that have the same goal you do. Whether it’s a professional goal or a personal one, when you have others alongside you reaching for the same goals, it can become a mutually rewarding support system. This could be members of a Master Mind Group or a Group Coaching Program.
5. Hire a coach! Coaches are uniquely trained to help hold you accountable to your goals.
Once you have picked the members of your accountability circle and they have agreed to participate in keeping you accountability, it will be time to decide how often you will check in with them and how exactly you will do that. You could meet in person, over the phone, via email or even through some other form of social networking.
How about you? Who do you have in your accountability circle? Maybe it is time to find someone who will really hold you accountable and who really wants the best for you!
Real Estate Agent Survival Guide: A Recipe for Lemonade
By Cheri Alguire
Are you sick of all of the bad publicity you hear on the news about the Real Estate Industry?
Are you sitting on a bunch of listings yet not had a sale in months?
Are buyers running you all over the place and then too afraid to put in an offer?
Wondering if this industry is worth sticking it out for any longer?
If you answered yes to any of the above questions, then it may be time to make some lemonade.
Yes, there has been more bad publicity about the bad real estate market than we can even keep up with.
Yes, days on market are higher than they have been in a very long time in many markets across the country.
Yes, buyers take more work and listings take more work and even after more work, many times nothing comes from it.
Yes, there are a lot of lemons!
We all know what we are supposed to do when life (or the real estate market) gives us lemons.But do you want to make lemonade?Are you willing to stick it out?Are you willing to go through the messy process of making lemonade?It is not as easy buying that premade lemonade.It is not as convenient, it takes a lot longer, and it can be sticky.The first thing you need to do is to decide that yes, you are going to take these lemons and make lemonade.It can’t be a half-hearted attempt, that won’t do!If you don’t want to make your own lemonade, don’t really care for lemonade and aren’t willing to go through the process and work, then it might be time to find another way to make a living.
Harsh? You bet!I will not sugar coat this or say that it will be easy.
Can it be done? You bet!And it can be wonderful.
The first thing you need to do, in order to make lemonade, is to commit!
Once you have decided to make lemonade, there are many recipes to making the sweet beverage.To make it in this kind of a market, there are many recipes an agent can follow.
Not sure where to start?Why not start with one of these ingredients:
Expired Listings
First Time Home Buyers
Investors
Short Sale Listings
Builders
Bank Owned Properties
Remember, there are many other ingredients that are common in today’s market:
More agents are getting out or not even entering which means less competition
Sellers are not putting pressure on you to discount commissions
Interest rates are low
Both buyers and seller realize how valuable your services are in this type of a market and value you as a professional
So, are you going to make lemonade?Or are you considering something else until the market turns around?Or both?
In order to celebrate this market, I am offering a very limited Group Coaching Program:Real Estate Lemonade Making.Sign up to listen to the free preview call on Wednesday, March 5th at 10:00 am PT/1 pm ET at http://www.prorealestatecoach.com/pages/contact-us.htm
Cheri Alguire has personal coached hundreds of Real Estate Professionals in all types of markets.She has been active in the Real Estate Industry since 1988 and has personally coached Top Producers, Rookie Agents, Owners, Brokers and Managers.Find out more at www.ProRealEstateCoach.com
Accountability is a critical element in the goal setting and goal achieving process. Many people brush it off under the belief that it doesn’t really make that much of a difference. This belief is not only incorrect, but the lack of accountability is completely detrimental to the overall success of achieving a goal.
Accountability is serious! In the Real Estate world, where there are clients, prospects, brokers, and agents, more and more information is necessary to keep things running smoothly. This increased amount of information is a form of accountability, as is communication, and while every real estate company will have different levels of accountability, I guarantee you that none exist without it.
In our families and personal lives, accountability is just as essential as in the real estate world. What we want, how we go about getting it, and the overall success can be related back to – yep, you got it, accountability. Think about how successful your kids would be in completing their chores if there were no accountability.
I remember speaking with a friend shortly after agreeing to run a half-marathon. This friend of mine is an avid runner, so she was immediately interested in the event and, wonders of wonders, even wanted to do it with me. If, by any stretch of the imagination, I wasn’t fully committed before this moment, agreeing to run this marathon with my friend Jennifer sealed the deal.
With Jennifer holding me accountable, I had no choice but to follow through – after all, I couldn’t rely on anyone “forgetting” about my commitment now! My friend didn’t live near me, which meant we couldn’t physically train together, but every time we spoke – she asked about MY training. Between you and me, I hadn’t even started to train at this point, but I certainly didn’t want to fess up to that! So, I’d lie through my teeth and say, “Great!” every time she asked.
Well, let’s be honest here – I could lie all I wanted to, but the proof would be right there in front of my friend’s eyes on the day of the marathon. By her continually bringing it up and reminding me, I was forced to keep it in mind. This propelled me to (eventually) get moving so I’d be able to answer her honestly!
As I said before, accountability is one of the essential elements in your succeeding at any goal you set. So, who are you accountable to?
You hold people accountable all the time, your buyers, your sellers, your kids, your husband. But who holds you accountable to doing what you need to do every day to be successful in business (following upon leads, creating the marketing plan) and in life (taking “ME” time, balancing time off?) Maybe it is time you found someone to help hold you accountable.
Maybe it is time to enlist an accountability partner or hire a coach. Maybe it is time to really do what it takes to get to the next level. --- Real Estate Coach Cheri Alguire partners with Working Moms, Small Business Owner Moms, and Real Estate Moms to hold them accountable to creating and following the plan that will take their businesses and their lives to the next level. Find out more at www.CoachCheri.com and www.RealEstateMoms.com
As real estate agents, we have all heard the word "Accountability" used around goal setting, but why? Is it really that big of a deal? Can't we just do it on our own?
Think back to all the goals you've ever made in your real estate career - from the simple ones to the large ones. Which goals were achieved and which weren't? Make a list of at least ten goals you can think of, writing "MET" or "NOT MET" next to each one. This visual exercise may help you understand at least one of the reasons why the NOT MET goals were - well, not met.
My guess is your MET goals were accomplished with the help of at least one other person. A friend, spouse, parent, your broker or a fellow Realtor who was in on your goal, perhaps because it was a goal they shared with you, or perhaps only because they were interested in you and how you were handling it. Regardless, every time you bring another person into a goal, you have a better chance at realizing that goal.
Without accountability, most people are likely to forget why it was so important to them, quit progressing toward it, or simply decide it's not worth the hassle. However, with accountability - meaning you know exactly what you want, when you want it, and there is at least ONE other person who has the same knowledge - guess what, you will more than likely continue toward the finish line.
While humans are really good at admitting defeat to themselves, they are far less able to admit defeat to another person. It's actually (in most cases) easier for them to keep working toward their goal just so they DON'T have to admit they "gave up" to another person.
Accountability works for the following reasons:
Shared Intention - When you share your intention with others, it becomes more real to you, which raises the stakes.
Responsibility - By confiding in another person, you're claiming responsibility to the goal you want to pursue. This creates a more focused outlook as you pursue your goal.
Ownership - Own your goals by bringing another person or persons into the loop. When you take control by placing ownership on your goal - success is far easier reached.
Commitment - Simply by communicating your plan with others forces you, like little else does, to commit. You know they'll be asking about your progress, checking in to see how things are going, and they'll be very interested in the entire process. You almost have no choice but to commit at this stage!
So who can help you keep accountable to your goals so you can move them from the UNMET to the MET category? Do you need an accountability partner? Do you really own your goals by bringing another person into the loop? Who is that person going to be? Just make sure it is someone who will really stretch you, and won't hold you back to their level. It can be a friend, mentor, fellow agent or a professional real estate coach. Whoever it is, make sure they will REALLY hold you accountability to setting and moving those goals to the "MET" category!
Whether it's January, or any other time of the year, you must set SMART Goals. When you use the SMART goals process, you're that much closer to achieving the results you want.
While part of me had thought my past client might forget about the commitment I'd made to her regarding the half-marathon, I still took the time to focus on my goal.This turned out to be a good thing, because she didn't forget!In the summer of 2005, Valerie contacted me again and asked if I was ready to sign up and begin my training. My half-thought promise turned into a full-fledged commitment!
I knew if I was truly going to follow through, I needed to finalize the setting of my goal.This was a little scary, as it was far above anything I had ever imagined myself doing.The marathon was 13.1 miles. Even for people who do run, that's not a short hike. For me, the non-runner, those miles seemed excruciatingly long.
While I did workout, and tried to keep myself in shape, I was not an athlete by any stretch of the imagination. I was a business owner and a mother to three teenagers. However, I was also a coach. I knew how to stretch my clients to help them move out of their comfort zones in order to reach the successes they dreamed of.
In the way life is, I was about to become my own client. I was about to use all the skills I taught others to ready myself for the biggest "race" of my life.
What is the first thing I did?
I carefully set my goal and I made sure it passed my goal tests.This process started with the SMART Goals I mentioned earlier.
So, what is a SMARTGoal? It's a method used by companies and individuals worldwide, though the process itself differs slightly from organization to organization. I am going to share with you my version of creating and setting SMARTGoals.To begin, answer the following questions:
What do you want? Be specific.
Is the goal stated in positive terms?
What are the logical and chronological steps you'll need to take in order to achieve this goal?
Is the goal within your control?
What stops you from having this goal right this instant?
What kind of person (behavior, attitude, etc.) do you need to be to attain this goal?
How will you handle potential obstacles?
Is the outcome harmful to anyone?
Once you have these questions answered, you must ascertain that you have a SMART Goal. Use the following to define your goal and to see if it is indeed a SMART Goal.
Is it a SMART Goal? See for yourself:
Specific - When you are specific about your goals, you have a far greater chance of seeing success. Vague goals are much more difficult to accomplish.To set a specific goal, you must take into consideration the six "W's."
WHO - Who is involved in the goal?
WHAT - What results do you want?
WHERE - Where is this goal in your life? Is it a career goal? Where in your career does it fall? For example, if your goal is to increase awareness of your business, it falls within the marketing aspect of your career.
WHEN - What is your time frame for this goal? When do you want to see the results?
WHICH - Which steps are needed to achieve the results you want? Are there obstacles? Name them.
WHY - What are your reasons for accomplishing this goal? Be specific.
Measurable - It is essential to develop the exact method you'll use for measuring your progress toward the realization of your goal. Progress that is measured allows you to stay on track, gives you concrete target dates to reach, and puts you in control of the process. Agreed - When you agree to accomplish a goal, you must be accountable to someone else. You will focus harder and achieve more when there are other people in the loop. Pick a business colleague, a family member, or a friend and let them in on your goal, and each step you'll need to take to achieve it. Realistic - With every goal you decide to achieve, be sure it is a realistic goal.This does not mean it can't be a high one! Reach for the sky, but be sure you have the ability, methods, and resources available to make it happen. Timely - Determine if it's an appropriate time in your life to work on each of your goals, as well as the length of time you will need to achieve them. Be honest with yourself and develop a time frame that will lead you to success.
Are your goals for 2008 SMART goals? If not, it may be time to rework them.
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Cheri Alguire is a business and life coach who partners with you to help you take your business and your life to the next level of success. For more information on Cheri Alguire's book 13 Lessons Learned in 13.1 Miles, visit www.13lessons.com For more information on Cheri Alguire and Next Level Services, Inc, can partner with you to take your real estate business to the next level, please visit www.CoachCheri.com
Goals.I have talked about having SMARTGoals in the past.Here are two more fun acronyms to use to make sure you have set great goals.
Is it a PURE Goal?Answer the following:
Positive – Is your goal positively stated?Our brains are tricky and if you have any negative connotations surrounding your goal, you'll have a less likely chance of success.
Understood – Are you sure you completely understand your goal, the methods for achieving it, and the results you want to attain?
Relevant – Is your goal significant to you?Does it connect in your life in an appropriate and significant manner?
Ethical – Does your goal pertain to a high standard?Is it an honest and moral goal?
Now, let's move on and discover if your goal is also a CLEAR Goal:
Challenging – Is your goal challenging to you?Does it fill you with excitement at the possibilities?
Legal – Of course, you don't want to break any laws, so be sure your goal, and the steps to achieve it, all are legal.
Environmentally Sound – Does your goal make sense within your environment?In both your work and your home environment, be sure that your goal is achievable.
Appropriate – Is it an appropriate goal for you to be focused on?If not, why not?
Recorded – Have you recorded your goal and your steps in any form?Checklist, to-do list, calendar – whatever your way, finalize your dreams by putting them into a tangible form.
Using acronyms such as SMART, PURE and CLEAR are great ways to make sure you are writing goals that are really specific enough, clear enough, detailed enough.By having this kind of a goal you can really measure it, you can really create a plan around it, you can really achieve it.How are you doing with your goals for 2008?Maybe it is time to review your goals with a coach who can give you an outside perspective on your goals and your progress.Set and go after those goals and make it a GREAT 2008!
There is a lot of talk about setting goals in January. What is a goal, really? This is what the dictionary says:
Goal(Noun) The result or achievement toward which effort is directed; aim; end
Every January, when you set resolutions, you truly intend to follow up on them. It's likely that among your goals, you have both personal and professional targets you're aiming to accomplish throughout the year.
As a Business and Life Coach, this is also the time that many of my clients work hard to finish their Business Plans and set up their other business goals for the next twelve months. You probably do the same, and these goals may include things such as:
Increasing sales.
Enhanced employee relations.
Better time management.
Advance a new marketing plan.
Sometimes, you set goals that you think will be really easy, when in reality, they're not. Maybe you only have ten pounds to lose, and you figure that will be simple. Or perhaps you simply want to be home thirty minutes earlier each night – that should be a breeze, right? These goals don't seem hard, but it can be that lack of "bigness" that makes us underestimate the process. This can be the difference in whether we actually achieve the results we want or not.
So what are your goals? If you need help figuring that out, my Business and Life Planning guide might be helpful to you. Are your goals too easy? Or do they seem too hard? What is one goal you have for yourself in 2008? Let me know!
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Business and Life Coach Cheri Alguire has helped hundreds of small business owners, Real Estate Agents and moms set goals far above anything they have every dreamed possible and help them to create a plan to achieve those goals. If you are looking to really set and achieve goals this year to take your business and your life to the next level, check out Cheri's Real Estate Business and Life Planning Guides.
If you're like most people, every January 1st, you begin the year with a new set of resolutions. Whether that goal is to lose weight, earn more money, stop smoking, exercise frequently, or even something as deceptively simple as calling your mother more often, the decision you made to make a change is essential. You can't succeed unless you start.
Half-Marathon – Setting My Goal I will never ask you to take something on that I myself wouldn't do, or haven't already accomplished. In 2004, a past coaching client of mine, Valerie, asked me to join Team Emily (www.Team-Emily.com) to run a half or a full marathon for charity. Me – the person who, at that point, thought running had to more to do with dashing to the grocery store on my way home from a meeting – was being asked to run a half-marathon. It's okay to laugh!
I could only run (okay, jog) for maybe twenty minutes on the treadmill before working out. My son Blake, a high school senior at the time and All-State Cross Country Runner, was the runner in my family. I knew if I was going to agree, I would have to work hard. After all, I had never run for more than a mile at a time, and even that took me a good half-hour to finish. This would be 13.1 MILES!
Nervous about the commitment, I still decided to go ahead with it, thinking that it would help me get in shape. I have to admit a small part of me thought that my past client Valerie would forget I'd even agreed, because the half-marathon itself wasn't for another year. But, a little voice inside my head fueled my excitement. The excitement grew to the point where I imagined myself telling my colleagues, family, and friends that "I ran a half-marathon!" Wouldn't that be cool?!
So set that goal, and tell as many people as you can. That is your first step!
What about you? What resolutions did you set on January first? What goals did you set for yourself? For your business? For your family? For your life? Think about those goals? If they were worth setting, aren’t they worth telling someone about? Tell someone, anyone about your new goals. It will help it be more real. You can even share it with me. I would love to hold you accountable to your goal! Just send me your comments. I will post your goals here to inspire others and maybe even remind you of your own goal from time to time!
If I can run 13.1 miles, you can set and accomplish that goal of yours! Make it a GREAT year!
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Cheri Alguire is a business and life coach who partners with you to help you take your business and your life to the next level of success. For more information on Cheri Alguire's book 13 Lessons Learned in 13.1 Miles, visit http://www.13lessons.com For more information on Cheri Alguire and Next Level Services, Inc, please visit http://www.nextlevelservices.net
New Year's Day is the day that many of us make those New Year's Resolutions. I bet you set one or two this year. What are resolutions? I like to think of them as goals being put into reality. Unfortunately, some resolutions only last for hours; some will last for days; some last for weeks.
But what is the trick to really making those goals reality?
I remember in 2004 when a coaching client of mine asked me to join Team Emily and run either a half or a full marathon for charity. This was not something I'd ever considered doing - I wasn't a runner, by any stretch of the imagination. But, the charity was one I couldn't turn my back on so, I agreed to run this half-marathon thinking it was about supporting my client, thinking it was about a scholarship winner that would have their lives touched and changed by this college opportunity. All good enough reasons - more than enough for me to set my goal to run the half-marathon, and more than enough to focus on crossing that finish line.
But, what I didn't know then was what the journey would teach me - the lessons I would learn in those 13.1 miles.
Running a half-marathon was once a goal of mine that is now a reality. So was living in Southern California, getting married to my soul mate and writing a book. I am excited to share with you that I actually have two books that will be coming out in the few months.
A Guide to Getting It: Marketing and Branding will hit store shelves soon. To pre-order an autographed copy visit http://www.cherialguire.com/product/a-guide-to-getting-it-branding-and-marketing-mastery.htm
And, secondly, look for 13 Lessons Learned in 13.1 Miles. In this book, I share 13 lessons with you - lessons that will help you set your goals, face any obstacles on your path, and, ultimately - achieve your goals. The journey isn't always easy, but these 13 lessons will last a lifetime. To find out more information about this book and to sign up for information on when this book will be released visit http://www.13lessons.com
Happy New Year, and go turn those dreams, those goals, those resolutions, into reality!
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Cheri Alguire is a business and life coach who partners with you to help you take your business and your life to the next level of success. For more information on Cheri Alguire's book 13 Lessons Learned in 13.1 Miles, visit http://www.13lessons.com For more information on Cheri Alguire and Next Level Services, Inc, pleas visit http://www.nextlevelservices.net
The only way to start a successful Real Estate business is to do so with a clear purpose. It’s impossible to create a long-lasting and successful business unless you have a far-reaching telescope. Something has to keep driving you to do what you do, or else your Real Estate business will fall under due to empty goals. Purpose provides the foundation of our values, vision and goals. Purpose gives meaning to everything we do in our personal and professional lives, yet not all of us recognize our purpose or can articulate it.
Whenever I begin coaching a Real Estate Professional that is the first part of business that I always walk my clients through. If they don’t have a definite purpose, they can’t build their business on a solid foundation. It all starts by asking yourself questions that may be difficult to answer. When we’re young, we know what our passion is and we don’t care about the obstacles that might occur. We have high hopes and big dreams. In a way, finding our purpose is like back-tracking into our youth and really looking at what we want for ourselves and our future irregardless of everything around us.
Then, I move from personal goals to Real Estate goals and have my client really dig deep into consideration of where he/she is professionally and where he/she would like to go. Find what you want and go after it. Having a purpose is one of the most important things in starting and maintaining a strong Real Estate business. Don’t overlook this in your action plans for next year. It’s never too late to start Real Estate business planning, so get your year off to a GREAT start with a GREAT purpose! Real Estate, Business and Life Coach Cheri Alguire has partnered with hundreds of Real Estate Professionals to help them become more successful in business and in life. Coach Cheri specializes in Group Coaching for Small Business Owners, Working Mothers, Real Estate Agents and Managers. Learn more at www.ProRealEstateCoach.com and www.RealEstateBusinessPlanningGuide.com
If you own a residential property that is declining in value, here are some ways to make the losses less depressing.
Trim property taxes. If a house has lost value, have it reappraised by the municipal assessor. Consider petitioning — or even suing — to get back taxes overpaid in the last few months.
Deduct a home office. Some people avoid the home office deduction because it requires deducting depreciation, but if the property has lost value, this isn’t an issue.
Sale-leaseback with a relative. If you're convinced your property is due for a big price correction and you have equity in the home, then sell now. For example, if you have a $1 million home that has been appraised at $1.8 million, you can sell it and take home $500,000 of the $800,000 gain tax free — due to an exemption on profits from the sale of personal residences. Sell the property to a trusted friend or wealthy relative and then become a tenant and pay the buyer rent at market rates — a much more attractive amount than Treasury bonds are paying now. When the housing market corrects, buy the property back.
Invest in housing futures. The Chicago Mercantile Exchange sells investment instruments that trade based on house price indexes for each of the 10 largest U.S. cities. You can sell futures, buy puts, or sell calls on this market to hedge losses in the value of your home.
Coaching is at an all time high demand lately. With Real Estate fluctuating so much, Real Estate Professionals know that it takes more than just business cards and a license to make a lasting impression in Real Estate. Coaches can help you grow your Real Estate Business by being the new perspective you might be looking for. They can help you with your business plan, lead generation, and much more if you find the right one with the right experience.
In finding a GREAT Real Estate coach to grow your Real Estate Business, here are some questions that I recommend considering before signing anything:
Experience It’s impossible to be an overarching coach. In the same way that with Real Estate, you have to find a niche and some sort of specialty to brand yourself and make your Real Estate Business as attractive as possible to consumers, coaches can’t possibly have the ability to coach people in all sorts of businesses, professions and backgrounds. How can a coach who has experience in spirituality and healthy living properly coach you with your Real Estate business plan, sales tactics, and lead generation? He/she can’t. If you want a coach to grow your Real Estate Business, find a coach who has experience being a Real Estate Agent, or who specializes in coaching Real Estate Professionals.
Certification Coaches seem to be all over the place, and most of them don’t have any certification. Surprised? A lot of times, since there are nearly no colleges that offer degrees in coaching, people will just take on the title “Life Coach” because they want to give people advice. Find a coach who has been certified by a coaching federation or school because certifications do exist for coaches. They need to know the tools to make you reach your goals, and if they have no training, education, or materials to grow your Real Estate business, you’ll find yourself at point A again after spending hundreds or thousands of dollars
Comfort Just because a coach worked for a friend or business associate doesn’t mean the same coach will work for you. If a coach that you’re interested in isn’t offering a free sample session, be wary of what they might be trying to get you contracted for. Your relationship with your coach is just as important as your relationship with an assistant. It has to be comfortable and open for either of you to get anything out if it. Make sure that you sample your coach before signing on with him/her.
Present Is your coach lost in yesterday? As a Real Estate Agent in today’s changing market, you have to be educated and up-to-date with technology, current trends, and everything changing in Real Estate today. If your coach isn’t current, then you might find your Real Estate sales going down the drain. In order to grow your Real Estate business, marketing, advertising and branding are of the utmost importance. These are all contingent upon what’s attractive to home buyers today and are always changing. Make sure your coach is keeping up with the Joneses so you don’t get lost in old business.
Multiplicity Using multiple methods of coaching is also important for your Real Estate coach. Your coach can’t just coach you on your business goals, just as he/she can’t just coach you on your sales. You have to have a well-rounded coach who touches on every aspect of your business and everything that might affect it.
If you’re looking for a Real Estate coach today or for the future, www.ProRealEstateCoach.com can help find the right coach for you.
Real Estate, Business and Life Coach Cheri Alguire has partnered with hundreds of Real Estate Professionals to help them become more successful in business and in life. Coach Cheri specializes in Group Coaching for Small Business Owners, Working Mothers, Real Estate Agents and Managers. Learn more at www.ProRealEstateCoach.com and www.RealEstateBusinessResources.com
A lot of times we forget about all of the different sales niches that are right under our fingertips. We get bogged down by the market slowing down and we think that our methods of sales to new prospective clients isn’t working. Get yourself out of this cycle by opening your eyes to all of the possibilities that are available to you and are right in front of you.
Past clients: How well have your relationships been maintained with past clients? Do you even remember the names of clients from 1 year ago? How about from 5 years ago? It is a necessity to maintain good relationships with past clients because you never know when they are going to give you a referral or even move homes and use you again. Make sure that you stay a consistent part of their lives with various forms of contact: Birthday cards, Home anniversary cards, eNewsletters, etc. Do whatever it takes to make yourself a household names in houses that are ‘yours.’
Business Networks: It never seems like we have the time to wake up extra early and go to those networking meetings, or take out time for lunch for a business luncheon. You honestly never know when you’re going to get a new lead, and business networks are some of the few places that you will most likely get a new lead every time you visit. Why prevent yourself from getting sales when they are right there? Meet people, meet leads, get referrals and give referrals. Business networks are always thriving forms of connectivity.
Open houses: Today, open houses aren’t just in person. That’s why you have to put extra effort into staying in contact with prospective clients that see your open houses in person and on line. Didn’t know you could have open houses online? You can create a video walk through of homes for sale and place it easily online. This makes it easier for you and for buyers to see what they want over and over again. However, that means that you have to make extra special effort to contact them via email and cards, and make sure that your follow-up system is seamless.
For Sale By Owners: We’ve heard of them, we’ve read about them, but now they’re more prevalent and necessary than ever. Are you doing everything you can to contact FSBO’s in your area? There are quick and easy ways to find FSBO’s and get them before everyone else jumps on the leads. At FSBORealEstateLeads.com you can find out how to get a hold of this “insider” information. Not only finding them early, but constantly contacting them without being overbearing is key. This means knowing their home more than they do, knowing facts, values, and when you’re going to sell it for them. Nail down the details before anyone else has gotten a chance to.
Rolodex: Ok, we don’t have rolodexes anymore…I’ve come to terms with that and I’m sure you have as well! Whatever contact management system you use, are you staying in contact with your contacts? This in
