Are You Following These 2 Success Philosophies?

Real estate agents have a myriad of skill sets to learn as they build their businesses. There's prospecting - database management - buyer & seller presentations - negotiating, and so much more.

With these skill sets, there comes learned knowledge and activity knowledge.

You may be asking yourself "How can I achieve more in less time?"

Well, these 2 powerful philosophies will help you:

1) Be "Education-Focused" - Study and learn from others who have been or are currently doing what you want to achieve. Whether it's reading books or online articles, attending seminars, or one-on-one coaching, you can really cut down your learning curve by studying from others who can show you what has worked and what didn't work for them.

2) Be an "Action Implementer" - If you only read about a great strategy and never use it, what have you achieved? Will you be great at doing it the first few times? NO!!! But you have to keep at it to improve your skill set. Fail your way to success! As you increase your repetitions, you'll get better at it. Don't be afraid to make mistakes. We've all made mistakes throughout life. Are you sometimes afraid to pick up the phone and make a call? Sure you are. We all have been at one time or another. But "Top-Profiting" agents keep doing it until they are proficient enough at it to make it a proven system in their business.

So take an allotted amount of time out of each day to learn a new strategy and then take the time to put it into action. Remember, "you don't need to get it perfect, just get it started".

Will You Fall For The Seasonal Slow Down?

With the tradition of Halloween coming up this weekend, it got me to thinking about how the months of November and December are full of distractions for the typical real estate agent.

There is:

• gift shopping
• holiday parties
• family gatherings
• vacation get-aways
• hanging out at the mall
• taking time off to unwind

Now the reality is Thanksgiving is really only a 4+ day holiday weekend and Christmas and New Years Day with the days in between seems to be 2 weeks. But there are still another 40+ days during that time where most people still work at their jobs. I understand that it's easy to fall into the trap of "taking it easy during the holidays", but the holidays aren't for 2 solid months.

You don't want to be "dead in the water" come January 2, 2010. The action steps that you take over the next 60 days will propel you into 2010 with closings in January, February and March. Otherwise, you may not get your first closing of the year until March or April. That's a killer on checkbook!

It can be tough to be consistent throughout an entire year, but by following a business plan that you can tweak along the way, you'll hopefully find yourself in a better financial position of not being behind the 8-ball.

So a couple of steps I'd recommend taking right now are to:

• review your business plan. If you don't have one, design a simple one for starters and build on it.
• determine where your buyer and seller transactions came from the past year or two.
• figure out which strategies generated ZERO commission dollars and stop doing them for now.
• take your top 2 or 3 business strategies and become an expert in them - maximizing your results.

Now is the time to re-focus on your business plan and goals, so that you can get a jump start on 2010.

To your success,

Dan

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Are You Familiar With The "WIIFM" Test?

Before you try a strategy or do something for a client, do you give it the "WIIFM" test?

"WIIFM" stands for "What's In It For Me?"

You have to look at how something will be perceived by your client. Is it something that makes you look good or does it benefit the client? Is it obvious to the client that it benefits them?

Here is a great way to restructure your marketing and advertising dollars from just being expenses to putting your systems into profit mode.

Write down every strategy you used this year that was an expense to your real estate business.

The goal here is two-fold: (1) to provide value to your clients and (2) to do it at little or ZERO cost to you.

As you look at each item, determine the amount of money you spent on it and how much income did it bring you. Did you lose money on it, break even or make a profit?

Don't do strategies just because your clients want you to do them...if they aren't effective and increasing your business.

During this time of year, agents are often solicited to buy music CDs, calendars, pens, magnets, etc. You need to determine if these items are really keeping your name in front of your clients.

How many homes have you shown, where the refrigerator magnet was not of the agent who has the home listed?

If you want to revamp your business and focus on your clients, try brainstorming and really think about "WIIFM" - What's In It For Me (your client). Everybody, us included, is always thinking about our own needs first. So, think about what you can give to your clients that will be of value to them.

Here's one idea I just started using myself:

The www.lowesrealtorbenefits.com program.

Your client receives a periodic e-newsletter from Lowe's with your contact info on it...you can have Lowe's send a 10% off coupon to your client...you can buy discounted gift cards.

So before you add a strategy to your business system, see if it passes the "WIIFM" test.

If December is a slow month...

If December is a slow month for you, will you....

A) focus more on shopping for presents?
B) attend more parties and drink more egg nog?
C) work on your 2009 businesss plan?
D) keep in touch with clients and continue to list and sell?
E) all of the above

The best answer is (E). You can do all of the above. You just need to prioritize your time better and work when you're working and play when it's personal time.

Many of us tend to look at our business cycles from Jan. to Dec., because of tax season.

I think that's a dangerous thing to do, because if your sales typically slow down this time of year, it's easy to get depressed, distracted and lose some confidence in your business.

I choose to look at my business through a quarterly cycle. I make a business plan for every 3 months. Now usually there aren't significant changes to it, but when changes are needed, I am then quicker to respond and not fall behind.

You need to be looking at your first quarter plan right now.

Are you where you want to be in your real estate business?

What are your biggest concerns or fears about your real estate business right now?

You may have more than one issues and that's OK to list too.

Take a couple of minutes and reply to my e-mail dan@agentsuccesscoach.com and write down what's really holding back your business right now.

What I want to accomplish here is to find out what your concerns and roadblocks are and then I'll come up with some answers and post them anonymously for everyone to benefit from.

I won't list your name, so your privacy will be respected.

I believe this can be a great learning experience for everyone.

The reality is...we're not in competition with each other, but only with ourselves. The more we learn from each other and take action on the ideas that work, the more skilled and compensated we all will become.

I've always believed and continue to believe that there's enough business to go around for everyone who's willing to work for it. The more business we do, the less business there is for those who shouldn't be in real estate in the first place.

So, before you click off this post, click on my email dan@agentsuccesscoach.com and share with me what some of your concerns and struggles are right now. What is it that your need to get better at doing? Which parts of your business need the most help.

Do You Feel Lost At Sea In A Storm?

Most real estate agents have never been in a real estate market like this.

How you react to it will determine your success or failure.

Now is the time that many real estate agents start working on their next year's business plan.

Look at which target markets, i.e. expireds, fsbos, relos, REOs, client base, etc., provided you with the most business. Then analyze the info to see how you can improve your systems. In this market, it's better to be an expert in fewer niches than a generalist in many. You should really focus on improving your skills in 3 - 4 target markets and truly master them.

Review at any transactions that fell through as well as prospects that were actively looking, but didn't buy. Figure out what you could have done differently to keep the deals alive and closed.

Look at what steps you should add to keep buyers from slipping through your fingers. Did you not keep in close enough contact with them? Did you have a buyer consultation with them first? Did they not listen to your advice?

It's often said that you can't bring a dead plant back to life. Well, old leads are usually dead leads. But you can learn from it. Take some time to put new strategies together to convert more of the buyer leads you're getting. Improve your skills by asking better questions, go deeper with your questions. Show people that you really care about helping them. Nobody likes to be sold, but if someone takes a real interest in you, you normally pay attention to that.

A well-rounded business plan also include marketing and advertising programs. Look at which programs provided actual leads and were profitable to you. Don't advertise in magazines solely to appease your sellers. You need to either put that money elsewhere or improve your ads to be more direct-response; driving leads to you. In my opinion, over 90% of all magazine real estate ads are a waste of money. But when done correctly, you can generate leads from time to time.

Now it's time to pull out all of your receipts for everything you spent money on. Go line by line and ask yourself, "Did this item make me a profit or was it money down the drain?" You need to let go of marketing and advertising that aren't bringing you a return on your money. Now, I didn't say to cut out all of your spending and go hide in a hole. But you need to look at which expenses are really necessary to help your business continue to grow.

One other thought: as you go through this process, you may want to bounce some ideas off your broker, manager or fellow agent, whose opinion and experience you trust.

Where do you want your numbers to be this year? Don't listen to all of the naysayers out there. There's enough business for those who really want it and will work for it. Do you want it?

In the end, you need a road map to know where you're going in these challenging times. Review your business plan every day. It will help keep you focused. Do the activities consistently and the results will come.

What Are You Dreaming About Today?

Everyone has dreams!

Some dreams are suppressed, some are considered doubtful, while others may be happening right before your eyes!

Dreams are often easy to imagine, but acting on them and bringing them to life takes commitment and desire and persistence on your part.

One way to help your visualization process is to design a 'Dream Board'.

Go through various magazines...Money, Fortune, Success, Robb Report, etc. Find magzines that are focused on your interests. It could be golf, travel, quilting, missionary work...whatever really gets you excited is what you need to clip out of magazines and put on your own dream board.

There are different types of boards you can use. Go to a printing company and they'll be able to provide you with the right kind of board. Then after you fill up your Dream Board...take it one step further and take it to Kinko's or somewhere similar and have them laminate it.

Now this process may take a few days or a few weeks to complete depending on how quickly you're able to find the pictures and photos that really inspire you. Don't be in a rush to just put any photos together. This is very important to assemble!

You may even want to start out with one or two 8.5" x 11" boards and work your way up to bigger sizes as you collect more pictures of your dreams. See the board to the left. It's actually neon-yellow colored paper with hand-written quotes on it. That was my first Dream Board.

Also, here's two walls in my office, where I bought many 'Successories' note cards and attached them to my walls. It allows me to read the sayings and use the power of visual photos for inspiration. Each picture and its scripted message has a different meaning to me and it re-focuses me when I review them.

Whatever you do, know that with all of the distractions happening every day, it's important to stay focused on your goals and dreams for your life.

There's nothing wrong with putting yourself in a 'cocoon' sometimes...shielding yourself from all the negativity.

When you have a blocked out time to make calls or work on a project, that's the ideal time to be sure you don't get interrupted...by other people or phone calls. You'll achieve so much more when you complete the task at hand. So turn off any extra phones and tape a 'Do Not Disturb' sign on your door, so you can efficiently and effectively work on your project.

In the end, know that motivation is internal and you need to surround yourself with positive, successful people as well as constant and never-ending thoughts of what it is you want to achieve.

5 Ways To Find Buyers From Brochure Boxes!

I just returned from visiting my brother in Boulder, CO this past 3-day weekend.

Wow! What a beautiful place!

As I flew in on Friday morning, the foothills had a thin layer of snow that sparkled in the sun light. By mid-day, most of the snow had melted.

While I was there, I noticed that most real estate companies had brochure boxes attached to their for sale signs.

I found out that homes are a lot more expensive in Boulder than back here in Cincinnati. I walked down one street of early 20th century homes (photo above) and pulled out a black & white flyer of a home with a list price of $2,500,000. In Cincinnati, that home would be listed for $400,000 - $500,000.

That got me to thinking...what strategies can be used to get more buyer calls from yard signs?

Here's 5 brochure box, yard sign strategies:

1) Print a color brochure with photos - add a toll-free hotline # on the flyer for prospects to call about the current price on the home. You can also be notified when someone calls and follow-up with them right away to see if you can show them the home or answer any questions.

2) Offer free home buying and selling reports - people are always looking to see how they can save time and money. Write some free reports and promote them. You can become an expert in the eyes of the consumer.

3) Invite prospects to read your real estate blog - people want to learn and by inviting them to your blog and web site, you may pick up another client

4) Add a sheet with details about your other listings - tell your sellers that their property information will be posted at your other listings as well.

5) Promote any buyer or seller service guarantees that you offer - add a sheet that states your various service guarantees (what they can be is another topic). You need to stand out from other agents in your area. When done right, you will get business from this source.

The important thing is to do something. Then go out and test to see which strategies will work for you.

The #1 goal is to get prospects to contact you, so that you can qualify them. If you give people everything, they have no reason to call you. Then you won't ever know who they are and won't be able to help them.

We all know that consumers want to stay invisible as long as possible. Don't we too sometimes? But by having them inquire about a property or service you provide, you're potentially offering them something of value. Show them that you're there to counsel them, not sell them. Nobody likes being SOLD!

Even though 80% or more of home buyers today search online for property, those and others still drive by homes in their areas of choice. Now go put your yard signs to work and generate some leads.

To your success,

Dan

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Going Back To School!

It's time to go back to school.

With needing to learn some new strategies in this ever-changing real estate market, you need to keep pace with the changes, so you don't get left behind.

We're back in a cyclical buyer's real estate market. Some of the causes for getting here are in dispute, but the reality is in many areas, housing inventory is high and buyers are scarce. This marketplace has created a hardship for some and found new opportunities for others.

What does that mean to you?

It's time to RE-MAKE yourself!

You need to analyze your business plan and determine which parts of it can be profitable in this market. Focus more attention on fewer strategies. Figure out how you can go deeper into making those few strategies better. Instead of scattering your energy, trying to be a jack-of-all-trades, fine-tune your strengths and delegate your weaknesses.

It's time to RE-EDUCATE yourself!

Now is the time to attend local and national training events...those that fulfill your continuing education requirements as well as topics that you have an interest in learning more about. One such constantly changing arena is in technology...web sites, blogs, RSS, digital photography, virtual tours, Twitter, Facebook, SEO, the list goes on and on. There's so many exciting things to learn and so little time.

It's time to take back CONTROL your environment!

Whatever is controlling the thoughts in your mind is controlling your life. Every day we are being bombarded with negative news about the economy from CNN, e-mails, billboards, direct mail and even the comments from family and friends.

You have to block it out...all of it. It's hard to do...I know. Some things slip through the armour, but you need to keep as much of it out as possible. Otherwise, it can turn your positive thoughts into negative or scary thoughts. It can cause you to go from daily, consistent, action steps to into inaction and feelings of doubt.

Don't allow that to happen. You are stronger than the outside negative forces. 94% of all people are still working. People are still buying and selling real estate. Yes, you will have to work harder and smarter to find them, but they're out there.

Sure, there is concern and anxiety among many people right now, because they are allowing the media to scare them into inaction...and the sky is falling. Stop allowing others to influence your thoughts. The situation is not ideal right now, but you must do everything you can to stay focused on controlling what you can control...your actions.

We will get through this...we have to!

"What is 'Blamus Realtus'?"

How many times over your career have you heard friends, family and clients tell you "Hey, I tell everyone I know about you."

To which you reply, "Great! I really appreciate that."

But in your own head, you're saying to yourself, "That's nice, but NO ONE has CALLED me!"

This is a case of "Blamus Realtus".

What in the world does that mean, Dan?

I'm glad you asked.

This common and painful condition is the real estate agent's fault.

Our family, friends and clients frequently come in contact with people, who are planning to make a move...whether buying, selling, relocating, etc. Sometimes it's something they hear through the grapevine. Other times, they hear it firsthand and get a lot of details.

The problem for you is 'you'll rarely if ever hear from these people'.

Why?

Because you haven't "trained" your family, friends and clients on how to properly handle that sometimes ackward situation, where they want to recommend you, but they either botch it up or don't say anything at all.

We, as agents, have the word "referral" tattooed on our brain. We know what it means and how it can benefit our business. It's used as common real estate jargon between agents every day.

But consumers don't usually know how important that word is to us.

When the opportunity arises, you need to ask those, who 'know, like and trust you', if they'd be comfortable recommending you to others when the topic is broached.

If they say "YES", then you need to share them the strategy that will allow them to help you help their family, friend or co-worker.

When they find out someone is moving, have them share some of your qualities with that person. Next, they need to ask "Would it be ok if I had ____ touch base with you and see how they can help you?"

Once they get the OK, they need to call you with the person's name and number, so you can follow up. Please don't do a hard-sell on the person. Remember, you were recommended and you need to honor that person's trust.

If your phone has 3-way calling, see if your client would introduce you on the call, maybe say something nice about you and hang up while you go ahead to see how you can help your new, potential customer.

Remember, the biggest frustration many agents have is knowing that they do a great job in helping people with their real estate needs, but when they're recommended by a friend or client, they never hear from the prospect.

Here's a script you can use, "If you hear of any friends or co-workers wanting to take advantage of this buyer's market, please tell them about me and then tell me about them."

Each situation can be a little different, but come up with some ways to show clients and friends how to recommend you and you'll add a few more transactions to your real estate business each year and it didn't cost you a dime.

Let's Simplify The '3-Foot Rule' For More Business!

You walk by real estate prospects all day long and you usually don't even think about it. We all do.

Sometimes, you have other things on your mind or you don't want to bother them.

Here is a real simple way of adding value to someone by using your business cards.

Whether you're pumping gas or in a checkout line at a store, make eye contact with someone and say a simple phrase: "Hi, I'm Dan, the Cincinnati Real Estate Guy. If you ever have a real estate or mortgage question, I'd love to help you. Here's my direct line and email address."

Obviously, say your own name instead of mine. But I'd love the extra business. :)

We all change or lose phone numbers and emails over time. You can even write short notes to your long-time clients and include a new business card for them to keep.

It's a subtle way to introduce yourself and not force real estate down their throat.

Are you going to leave your business cards in their box or pass them out and make some money?

We all miss opportunities every day, me included.

Why not grab a stack of business cards and put them in your car. Then set a goal of passing out 5 business cards every day when you're out in public. Do that 5 days a week for a year and you've passed out over 1,000 cards.

Do you think you'll get any business from it? Absolutely!!!

Nervous or afraid of confrontation? Then find one person each day. You can do it. Real estate is a contact sport.

Some people will even ask you questions on the spot and that's a great way to get their contact information, so you can follow up with them.

Now, go out and consciously do it and share your results with me. Reply to this post in the "comments" section and tell me how it worked for you. I challenge you. I'm doing it too.

Have You Ever Heard "You're So Lucky"?

I was recently talking with a gentleman about his real estate business and he said that his business was 'way down'.

He didn't know if he could stay in real estate. His cash reserves were running low and without any closings on the horizon, he didn't know what he was going to do.

I asked him about his options for a job outside of real estate and he said "Real estate is pretty much all I've ever done and I wouldn't know where to find something else."

He said to me, "You're so lucky! You've always got things happening."

I told him "It hasn't been easy for me either, but I live by a quote my dad told me many years ago when I was a teenager."

My dad would always say "The harder you work, the luckier you get!"

In today's world, I think you also have to add "the harder and smarter you work"...

It's true, the harder and smarter you work at something, the better you get at it and the easier it appears to others. The people, who aren't doing anything, will always think you're just lucky.

They don't see:

• the prospecting calls you make
• the hours each night that you spend studying and reading to improve yourself
• the goals and affirmations that you take time to review each day
• the mistakes you make, but then learn from and correct
• the practicing and preparation of your buyer & seller presentations
• the hours upon hours of fine tuning your business systems

Selling real estate is a contact sport and you need to work on your real estate business day after day. Don't ever think you know it all, because you can't. There's always change in the market and only those who change with the market and adapt the strategies that work will survive.

If you're struggling a little bit in your business right now, take a look at what you're doing and not doing in your real estate business. What changes can you instantly make to improve your situation? Sign up for a continuing education course that looks interesting. Call some of your inactive clients and see if you can help them with anything right now. There are lots of things you can do to turn your business around. There's plenty of business available for those who want to find it!

So the next time, someone tells you "You're so lucky!", just tell them, "Yes, the harder I work, the luckier I get!".

Save Gas & Time When Showing Homes!

Do you ever show homes in an area you're not that familiar with? Do you need a map to not get lost in front of your clients?

Well, I recently came across a cool web site that will save you time and gas when you're out showing properties.

It's called www.IdealRoute.com and it's a free service.

You just enter the property addresses that you're going to show and it assembles the best route and maps out the directions on how to get from one property to the next.

The site was created by the Virginia Association of Realtors for its members, but it can be used all over the country.

It's so easy to use. It's takes just 2 steps. Enter the addresses and click on "Calculate Fastest Route".

There's even a YouTube Video Tutorial to help you.

Try it out the next time you have a client that wants to see 4 or 5 properties. You may even want to copy and paste the directions to your clients in an email, so they know the order of the homes you'll be looking at.

Finding Diamonds In Your Own Back Yard!

Do you remember the story of the man, who searched the world, looking for diamonds his entire life, but after he died, diamonds were discovered on his own field?

In which part of the country do you know the most about real estate?

In your own city?

In your own community?

In your own neighborhood!!!

Are you sharing your wealth of real estate knowledge with those closest to you?

Do you want to connect with more of the homeowners in your neighborhood?

Here's what you do.

Schedule a "Neighborhood Name" Real Estate Update Event:

• share market values with homeowners
  
• bring your preferred lender to talk about the financial markets
  
• bring your handyman/contractor to talk about maintaining home values
  
• bring your insurance agent to talk about adequate insurance coverage
  

See where I'm going here?

If the neighborhood has a pool area or clubhouse, send out flyers for an event from 6:30 - 8:00 on a weeknight. Have other speakers bring drinks and snacks.

If you don't live in a specific neighborhood, then select one that's near you.

This way people get to meet and feel comfortable with you and they will be more likely to consider hiring you when they're ready to buy or sell.

Tell me what you think!

Go ahead and set one up and let me know how it goes.

You may get some immediate business or maybe in the spring, but it's a great way to add to your database.

ALERT: 2008 Isn't Over...Yet!

We still have one quarter left on 2008!

Some trainers are already talking about preparing to build your business in 2009.

WHOA!

We still have 3 months in 2008 - a whole quarter of the year left. Don't write this time off!

This reminds me of the "Holiday Advertising Season". Each year, stores get out their holiday season decorations earlier and earlier. I mean, it's ridiculous.

Count these numbers out loud! Go ahead!

1 - 2 - 3 - 4 - 5 - 6 - 7 - 8 - 9 - 10 - 11 - 12 - 13 - 14 - 15 - 16 - 17 - 18 - 19 - 20 - 21 - 22 - 23 - 24 - 25 - 26 - 27 - 28 - 29 - 30 - 31 - 32 - 33 - 34 - 35 - 36 - 37 - 38 - 39 - 40 - 41 - 42 - 43 - 44 - 45 - 46 - 47 - 48 - 49 - 50 - 51 - 52 - 53 - 54 -55 - 56 - 57 - 58 - 59 - 60 - 61 - 62 - 63 - 64 - 65 - 66 - 67 - 68 - 69 - 70 - 71 - 72 - 73 - 74 - 75 - 76 - 77 - 78 - 79 - 80 - 81 - 82 - 83 - 84 - 85 - 86 - 87 - 88 - 89 - 90

These are the number of days left between now and the end of the year. That is a lot of days to just glide through, have missed opportunities on and to lose them forever. Each day is just as important as the next.

How many listings and sales can you achieve in the next 90 days?

What you do in the next 90 days will affect today's income as well as into 2009.

I know it can be easy to get side-tracked over the next 30 - 60 days in anticipation of the upcoming holidays and parties, but now is when you have to "grind it out" - work harder, smarter and stay focused on your daily business activities.

So, review your business plan and determine what you have to do to stay on track to keep your income flowing. You may traditionally do different activities this time of year, like talk to more family, friends and clients that you like. See what's going on in their lives right now. When they know you care about them, they'll pay more attention to you and give you an opening to talk about your business. You can then tell them about the great buyer's market we're in.

The harder and smarter you work during these last three months of 2008, the better prepared you'll be for 2009. You will have sustained momentum that will keep you way ahead of most other agents in your area.

While other agents slow down, because of the upcoming holidays or the economy or they're just tired, it's time for you to push forward, because there are still people, who need to buy and sell properties in this market.

There's nothing wrong with taking some time off over the holiday season, but make sure when it's time to work you're working. Stay focused on achieving your goals and completing your daily activities.

Make yourself proud on January 1st when you look back to all that you achieved over the previous 90 days...and not have to ask yourself, "If I had only...?"

Go get 'em!

"I Want The Truth!"...Can Sellers Handle It?

It's now officially the "Fall" season and no matter what your market conditions are, it's more important than ever to keep your home sellers updated on what's happening in their local real estate market.

Have you had any listings for 3 to 6 months or longer?

How are you communicating with your sellers?

It was probably easier in the beginning to pick up the phone and call them every week, but as time goes by and their home just sits on the market with no end in sight, here are some ideas to put into action:

• Are you communicating in your seller's preferred method of communication...by phone or e-mail? Are you contacting them each week with an update? Sellers want to know what's happening. Also, share information with them about what's happening in the financial markets and how that's affecting the ability of home buyers to be approved for mortgages.
  
• Set up an e-mail program in your MLS system that can send them information on new listings, new pendings and new solds. If that's not possible, you may do it yourself or out-source it. Let your sellers see what their competition is and see what's selling and for how much. When they review the information for themselves, then they believe it more than if you 'told' them the statistics.
  
• Schedule appointments to view 4 - 5 homes with your sellers that are closest in features, location and price to your seller's home. How do they compare? Do you need to get a price adjustment? Tell your sellers that buyers are looking at more homes now than in the past. They even look at homes on the Internet before ever getting into their car and if your listing doesn't show well online, you won't be getting a phone call for a showing.
  
• Take another close look at your listing (first without your sellers there) and imagine that it's someone else's listing. How would you critique it? Is it tired and full of furniture? Does it need a fresh coat of paint and wallpaper removal? Would it look sharper with updated light fixtures and more? Then have a heart-to-heart with your sellers about what they can do to make their home stand out above their competition.
  
• Ask them..."Do they REALLY need to sell right now?" If the answer is NO, take their home off the market. In my area, we have a 9+ months supply of homes for sale. That's twice the average of a 'balanced' market. With so much for sale, only the most appealing, best-showcased and 'bargains' are selling.

These are a few ideas that can help your seller better understand what they're up against. If they watch the news, they know the media's take on our housing situation, but local market conditions do vary. A person's perception of how things are is their reality. If it causing them to believe things aren't really the way they are, it's your job to show and tell them what's really happening in the market.

Hurricane Ike Strikes The Midwest!

Even though we didn't get any rain in the greater Cincinnati area, the 40 - 60 MPH winds with gusts of over 70+ MPH still did plenty of damage.

Two days after the remnants of Hurricane Ike's winds and over 500,000 homes and businesses are still without power. We were fortunate enough to get power back on in our home last night with one more outage overnight...not sure when it came back on, just glad it did.

Fortunately, the rains didn't come with the wind or in addition to lots of roofing and siding damage and fallen trees throughout the area, you could have added flooded basements to the list.

You don't realize how much electricity plays into every day life. We all take it for granted.

This got me to thinking about emergency preparedness for my family, my home and my business.

For this tip, I want to mention some strategies that can help keep your business afloat in the short-term:

• Make sure that you consistently back up everything on your computer.
• Use a software program like Top Producer, that's web-based, so that you have access to your files and client data anywhere you go online.
• Contact your active sellers and see what immediate needs they have that you can handle for them. If you have vacant listings, you need to visit them ASAP to make sure they're OK.
• Contact your buyer prospects, depending on the severity of the community damage, and let them know what's happening. Some listings have been damaged, so before showing homes again, make sure the showings you schedule aren't damaged homes.
• Always have some cash stashed away in a "tin can". Many times banks and ATMs can be shut down without electricity and there may be no way to get money.
• In a more severe setting, where Mother Nature has destroyed a lot of homes, know that the displaced people will need temporary or long-term rental properties until they get back on their feet.
• Build an Emergency Fund equivalent to 3 - 6 months of living and business expenses, so that if you have a major destruction of property in your area, you'll be able to survive, because the bills will keep coming in the mail.

These are just a few of the things that you need to think about and plan for ahead of a major storm or other natural catastraphe. May you never need to experience one, but follow the Boy Scout motto: Be Prepared!

Are You Lost in a Sea of Agents?

I recently read about an agent, who had run into 'bad luck' lately with prospects.

He was showing home after home to several, different prospects, but no one was buying. They would look at 20 - 30 homes and then disappear. Some would buy a home from a different agent.

It got me thinking.

Whenever you have a problem, is it because you aren't using a system in your business or is a component of your system not working properly?

In this case, the agent didn't have a system.

Here is what I would recommend:

It's very important to devise a system for your buyer prospects before you spend countless hours and dollars on them.

Are they motivated to buy now?

Are they pre-approved by a reputable lender?

You need to schedule a consultation with them before you head out to show them properties. Sit down with them, preferably at your office, and review the home buying process with them. Find out their needs and what concerns they have about the process. Then share with them how you work and the benefits they'll gain by hiring you to be their agent.

Then make sure that they have been pre-approved for a mortgage that they understand and will be comfortable with its terms. If you don't have a preferred mortgage consultant that you've worked with over time and can recommend, make sure you talk with the lender they've selected and find out the details about the mortgage they are recommending to the buyer. When possible, ask for a Good Faith Estimate or a breakdown of closing costs and fees associated with the mortgage.

Then set the buyer up to receive new listings by e-mail. Make sure they closely review each listing before making an appointment to view it. Many times there are things about a property that will disqualify it in their mind or they miss reading about a certain feature of the property that would have eliminated it from consideration in the first place.

Always ask continuously about which features and amenities they'd 'like to have' versus 'what they must have' versus what they'd 'never accept', i.e. in-ground pool.

Constantly pre-qualify prospects. Their wants and needs can change during the process.

You should be interviewing them as much as them deciding on you. It's really all about your mindset. People will use up your most precious resource: time. Don't let them do that if they don't meet your standards to work with. Don't put yourself in a position that you've worked with them for so long that you can't afford to lose them. They will sense that.

It's better to work with fewer, highly-qualified buyer, who know what your expectations are and appreciate your real estate expertise than to waste time and gas money driving looky-loos all over town.

When you meet with someone one-on-one and they see that you're a professional, who really cares about serving their real estate needs, you'll have a much better chance of helping them find a new home.

In today's market, whether you're working with buyers or sellers, it's all about quality clients, not quantity.

So, don't become a "commodity" among real estate agents, where consumers think that we're all alike. We're not. Constantly improve your skills by practice, education and just going out and doing it.