Is The Internet Good or Bad For Realtors?

Has the Internet been good or bad for the real estate industry?

I think you can find plenty of people who are on both sides of the fence on this matter.

The reality is it's here to stay.

You need to get up to speed and learn as much as you can about it, because as time goes on, the Internet is constantly changing and becoming a more integral part of our real estate businessas well as our every day life.

When you look at how consumers search for properties today, approximately 80% of them, first go to the Internet. They are looking for properties, not agents at this point.

Now if more and more people are scanning the Internet first,then why are you still advertising in the local newspapers and real estate magazines?

I'm not saying "Don't advertise in them". But do you track where your leads are coming from? If substantially fewer leads are coming from newspapers and magazines, then you need to look at diversifying your marketing budget other advertising mediums, like the Internet.

Did you know that there are still a lot of properties listed for sale around the country that have ZERO or only one photo on a listing?

That's crazy! How can you market a home without photos?

Yet, there are listings on the Internet without photos.

What's just as bad is listings with photos where the rooms arenot shown in their best light: cluttered, messy, dark (no lights), not staged, etc.

You only have one time to give a property its best first impression.

When advertising your listings on the Internet, do you give consumers access to mortgage info, property details, school and community info, photos of the neighborhood, tax info, virtual tours, etc.?

Consumers are CRAVING for information! It's time that we give itto them and offer our expertise, before third-party companies step in and take over our business.

There are now a few MLS's around the country that allow consumers access to previous detailed sales information, so consumers may be able to determine the value of their own home.

Is that right or wrong? That's for you to decide.

The Internet is still a relatively new medium for marketing properties.There are a lot of companies out there that have products and services that may or may not work, so be careful and review product information closely before making any financial decisions.

Use my rule of thumb when making a major purchasing decision: Wait 48 hours before deciding to buy or not to buy. Ask around and listen to what others in-the-know say about the product.

I have been using several Internet-friendly products and servicesthat I will share with you in the near future. I will continue to survey and research other products and services as they come on the market and pass on my thoughts to you.

To your success,

Dan

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Only 30 Minutes Can Do What?

Have you ever listened to a CD or read a book that could really make a difference in your life, if you'd just apply the strategies in your life?

Reading 30 minutes a day doesn't sound like much time, but when you compound that over an entire year, that's equivalent to 4.5 forty-hour work weeks (yes, over 1 month). And when you get in the great habit of doing it every day, you'll often find yourself spending more than 30 minutes at a time....it'll end up being 45 minutes, an hour, 90 minutes or more at times.

Just a brief glimpse into my life: I'm a voracious reader. I'm also a night owl, so it's not uncommon for me to read books or listen to tapes or CDs in my home office up until 1:00am or 2:00am long after everyone else in my family is fast asleep.

As I'm evolving into a better business coach, I'm realizing that it's so much more important to focus on your business planning, time management and the day-to-day activities that surround your business and personal life.

The selection of which target markets you focus on, i.e. your client base, RELO business, FSBOs, expireds, inactive clients, etc., are not as important as the conscious and proactive approach to completing and achieving your daily/weekly game plan.

So take half a day or a full day away from the phones and distractions (some quiet or peaceful place) and total immerse yourself in reviewing your business and your life and plan out what you want to accomplish (in # of transactions or dollar volume) for the coming year.

One of my goals is to read at least 30 minutes a day 5 days a week, so I read at night before I go to sleep. I also play CDs and tapes in my car to and from appts. I strongly believe in constant and never-ending, self-improvement.

I recently received a FREE 60-minute CD, except Shipping & Handling, from Mike Litman, who authored a #1 best-selling book, "Conversations With Millionaires".

The CD is titled "Greatness Held Hostage".

The powerful strategies found in the CD that are used by past and present millionaires and billionaires cover all aspects of your business and your life.

To order, click on: Greatness Held Hostage CD

As you may or may not know about me, I don't recommend anyone or anything unless I have personally used the service or product myself.

This is one of The most insightful and incredible training CDs I have ever heard and I'm starting to implement the awesome strategies into my daily business and personal life.

I believe that by applying the strategies found in this CD, I will be able to build a net worth larger than I ever though possible in my life. Being able to give back to our community and help others, who are less fortunate and struggling, really excites me.

Check this CD out and listen to learn: Greatness Held Hostage CD

To your success,

Dan

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Real Estate Slumps - We've All Had Them...

But the key is to recognize them and immediately work yourself out of them.

Be careful not to lose your momentum. Many real estate agents in the marketplace have lost their momentum, because while they were busy keeping transactions together and closing them. They forgot to keep focusing on finding new business.

The key to success is to regain your momentum and that requires you to accelerate your prospecting activities. Whatever you do to acquire new business, step it up a notch.

To get out of a slump:

1) Focus on activities, not results.
2) Focus on what you can control.

3) Delegate and automate as much as possible.
4) Everything else will take care of itself.

You can't guarantee results, but you can guarantee doing activities. The activities will then produce your desired results.

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Are Listing Expenses Suffocating You?

With many areas seeing a change from a seller's market to a buyer's market, real estate agents have seen an increase in their marketing and advertising budgets, because of the additional 'days on market' that many of their listings are currently experiencing.

While in the past, where many listings would sell in a matter of days or a few short weeks, now the marketing time of many listings can be up to 6 months or more before selling; or even worse, expiring.

When one of your listings expires, it's a drain on you emotionally and financially. Think about all of the time you spent marketing the listing, the dollars that came out of your wallet/purse, all of the communications with your sellers, all of the follow up calls to prospects and showing agents.

It's time to start looking at which types of marketing and advertising are the most effective in today's market...not what your sellers want, because of what's worked in the past. Times have changed.

Because of the Internet, up to 80% of all prospective home buyers today are going online to search for properties. How many prospects are still searching for properties in local newspapers and real estate magazines?

You've got to ask yourself: "Are you receiving quality calls from your magazine and newspaper ads...or is it money down the drain each month?

Are you advertising in certain publications, because your sellers want you to and not because it brings any prospect calls to thatproperty?

I'm not saying to stop all newspaper and magazine advertising, but you need to track your numbers and see if you're getting any results from these forms of advertising.

You also can make your advertising more effective by testing different things in your ad, i.e. put a personal web site address in your ad, put only one phone number in your ad (best number to reach you), or writing a direct-response ad that gets prospects to WANT to contact you.

If you have a fax number in your ad, but not an e-mail address, you're making a BIG mistake.

IF there's room for an e-mail address, use that before using a fax number.

Have you ever had a prospect (someone, who doesn't know you) fax you something? I haven't. Strangers are either going to call or e-mail you, not fax you.

Do you do the exact same marketing and advertising strategies for every listing you take?

It's time to look at everything you do and spend money on when you list a property. Sometimes you may need to promise something extra to get the listing when you're in competition with other companies.

OK, but you also should devise a marketing plan timeline. You don't need to do everything in your marketing plan in the first 10 - 14 days. Spread out what you will do over the entire listing period. Some strategies are better in the initial stages of marketing while others work fine at any point of the listing time frame.

Are you wasting your hard-earned money and precious time doing certain marketing and advertising strategies that aren't effective intoday's market place and only doing them, because you think the sellers expect them?

Sellers only want their property sold as quickly as possible for the best price possible and with the least amount of hassle through the process.

You need to educate your sellers about what works and what doesn't work in today's market. That's part of being a real estate professional. When you give a polished listing presentation, educating your sellers needs to be part of it.

Next week, I'll focus on the power of the Internet and share with you some strategies of how you can improve your listing's exposure and often times at a lower cost.

To your success,

Dan Weis, CRS, GRI, e-Pro

Real Estate Agent Success Coach

dan@AgentSuccessCoach.com

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What's Your "Per Minute" Wage?

Have You Ever Figured Out Your "Per-Minute" Wage?

I recently read a short article that broke down how much an agent earns by working 40 hours a week for 50 weeks a year.

Annual Net Income $50,000 = $25/hr = $0.42/min.
Annual Net Income $100,000 = $50/hr = $0.84/min.
Annual Net Income $200,000 = $100/hr = $1.67/min.

We've all seen it, BUT they took it a step further and broke it down to "Per-Minute". That additional step REALLY opened my eyes.

Earning $100/hr, look at the cost of time that we incur daily:

watching a 30 minute TV show = $50.00
20 minutes reading the newspaper = $33.40
waiting 15 minutes for a return phone call - $25.05
90 minutes roundtrip to showing with no-show = $150.30

Plug in your numbers and see what your time is costing you when you are doing incidental, non-income generating activities.

When you're working and your 'wage clock' is on, do as many dollar-productive activities as possible. When you're off and playing, have fun.

If you know of any other time-wasters that you usually do and figure out the "Per-Minute" cost, I'd love to hear them. But since that'll be wasting your time, I'll understand if you don't. :)

Have a profitable week!

Dan Weis, CRS, GRI, e-Pro

Real Estate Agent Success Coach

Mailto:dan@AgentSuccessCoach.com

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Are You Where You Want To Be?

If you're not, then you need to ask yourself, "Who am I associating with?

I recently attended a personal development training with Mr. John Gardner, a self-made millionaire from South Carolina and one of the co-authors of "Chicken Soup For The Entrepreneurial Soul" talking about the successful habits of many success-minded business people in history as well as the current day entrepreneurs.

One of the philosophies I learned from this training was "The Law of Association". Who are you associating with on a daily, weekly and monthly basis to improve your business skills? It's been said by many that 'You become like the 10 people you hang around'. Are you at the level in your real estate business that you desire? If not, it's never too late to start. Take people, who you aspire to be like, out to breakfast or lunch. By asking them lots of questions and really focusing on their answers (take notes), you'll shorten your learning curve.

Take time out of your schedule and go to motivational or inspirational events outside the real estate industry once or twice a year. It can bring a renewed energy to your life and your business. Whether it's Anthony Robbins, Zig Ziglar, Les Brown, Jim Rohn or so many others, take the time to learn more about how to balance your life. Real estate is the vehicle you've chosen to help you accomplish the goals in your life. What does the money you earn from real estate allow you to do that you really enjoy doing (a hobby, visiting a far away friend, a calling)? Are you taking the time needed to have a balanced life?

Oh, I almost forgot the NAR radio commercial I used to hear, (paraphrased) - "real estate is our life (24/7), so our clients can have a life". Don't forget to take time to enjoy your life!

Just thoughts to ponder!

Dan Weis, CRS, GRI, e-Pro
Real Estate Agent Success Coach
Mailto:dan@AgentSuccessCoach.com

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Don't Be A "POP TART"!

A "Pop Tart" is when a prospect calls you from an ad or sign and wants to see a property right away and you "pop up" without knowing anything about them. It's a potentially dangerous and/or time-wasting situation. Make a short list of 3 - 5 qualifying questions.

Here's an example of some questions:

1. Are you working with another agent?
2. Have you been pre-approved in writing by a reputable mortgage lender?
3. Do you currently own a home that you need to sell before you buy?
4. How long have you been looking for a home?
5. Are you able to go ahead and make an offer when you find the right home?

Then ask questions to the prospect on the phone and explain to them the benefits of meeting you for a buyer consultation at your office or another public place first. By meeting with them, you'll get a deeper understanding of what their goals are. You can also tell them how you work and you can decide if they're qualified to work with you. This strategy will go a long way to increasing the quantity of qualified prospects, who will turn into your clients.

Dan Weis, CRS, GRI, e-Pro
Real Estate Agent Success Coach
Mailto:dan@AgentSuccessCoach.com

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First Thing You 'MUST' Do When Designing Your Business Plan...

As we're in the first few weeks of January, 2007, if you haven't started thinking about where you want your business to go in 2007, NOW is the time to do it.

But the first thing you 'MUST' do is review your results of 2006... see what worked for you and what was a failure. Failing is good! When you fail, it causes you to take a look at where you made mistakes and to see if it's worth continuing in the same direction or should you stop and go another way.

When your market is HOT and your listings are selling fast, it's easy sometimes to not pay attention to what got you there and not review your goals. Don't fall into that trap! Stay focused on your business plan! What works one year may not work the next.

When designing your business plan for the new year, there are 3 goals you need to write down:

• 'gross commissions' goal,
• 'net profit' goal,
• 'transactions closed' goal,
  

It's important to make sure that you write out these three goals, because you will end up gravitating to one of them and that's the one that will help drive you to achieving your goals for the year.When you have the end result in mind, it makes it easier to fill in the blanks of what you need to do daily and weekly to achieve your goals.

To your success,

Dan Weis

Real Estate Agent Success Tips

Three Insights To Playing Big!

I was recently talking to one of my mentors. I was asking him how can a person take their business to the next level and he said "If I really wanted to take my game to a whole new level, I had to do things VERY differently."

It got me thinking about how I played my game in 2006 and how I need to play it differently in 2007.

Here are my Three Insights to Playing Big:

1. Be ruthless with your time.

It's too easy in real estate to go from project to project, never completing anything and then still having unfinished projects weighing you down like a ton of bricks. When I'm coaching a client, often they will say that they don't have a plan for their day. That's the kiss of death. Nobody cares about your time more than you. If you don't care, then people will steal all of your time away and what will you have to show for it. Be ruthless with your time. Every second only happens once in your life. You need to only say yes to things that align with your goals, values and high payoff activities. It may sound harsh but it's what works.

2. Play with 'BIG' people!

What I mean is surround yourself with people, who are where you want to be. There is a saying, "Your income is the average of the five people you hang around." If you stay in your comfort zone, your revenue and results will stay there too. Invest in mentors, programs, and seminars that will give you access to people playing a bigger game. Even one idea that comes from someone with a different mindset can pay off big for you. Make a list of the people you want to be like and find a way to associate with them: find out what conferences or seminars they attend and hang out with them (as much as possible) at conferences, buy their books - learn their skills, etc. Have a list of powerful questions to ask them when you see them...not how do you do it all. Be very specific and listen to them - write down or tape what they say. When you get to know people like this and learn their skills and habits, if you run into a problem and don't knkow what to do, ask yourself, "What would ____ do?" Then just do it.

3. Toss out what isn't working... quickly!

Sometimes strategies just don't work out from one year to the next. I learned this year that if not's fun, isn't profitable or is taking up 80% of my time (instead of 20%) then its time to make space for something better. I'm replacing the strategies that didn't work well enough last year with new ideas this year. My insight: make your decisions quicker. It costs you your sanity, money, resource time and lots of missed opportunities to hang on to something that doesn't work. Why take weeks of "thinking" about it, when you can change your mind in an instant! Trust your instincts and always let go of a great idea that isn't panning out. If the idea isn't working, then it's draining your energy and time!

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Provided to you by: Dan Weis, Agent Success Coach