Saturday, December 16, 2017

Insights and Strategies from Real Estate Coach Darryl Davis

By Julie Escobar

Since the dawn of real estate, it seems we’ve been hearing phrases such as, “Listings are the name of the game” or “List to last.” While those sayings are as true today as they’ve always been, we caught up with our old friend and real estate coach Darryl Davis to learn why “just listings” aren’t enough to propel your way to the top and stay there anymore. Today’s agents need to focus on building listing INVENTORY if they want toDarryl Davis 06 stay in the game and compete at the highest levels. Here’s an excerpt from our interview:

Q: Darryl, you’re teaching your students and coaching members that they need to step up their game in terms of building (and keeping) listing inventory. Can you share a little more about that with our readers?

A: Sure! First, I like to share the WHY – WHY it’s important to build and maintain listing inventory. I’m a big analogy guy, so I sometimes ask agents to think about their friends, family members or neighbors and what they make. You know, a lot of times you don’t know exactly how much other people make, but you have an idea, and sometimes you think to yourself, “I know I make more than that, but they have more than I do or don’t seem to struggle as much as I do.”

Two words explain that: cash flow. See, those other folks are usually salaried people with consistent income, so they can budget and plan their lives around that. In real estate, we don’t have that. Most agents run their business in surge-and-drought mode – right? But it doesn’t have to be that way. If I asked every agent reading this if he/she had a consistent $5,000 (or whatever your number is) every month, would it make your life less stressful? The answer is 100% yes.

Q: That helps put it in perspective, doesn’t it? So there’s the WHY. Can you tell them HOW building inventory solves their surge-and-drought problem?

A: Yes. I like to tell agents to focus on listing inventory rather than listings like this: Imagine you’re selling shoes listing inventory 2instead of houses. If you want to sell shoes for a living, you’ve got two choices: One is to get a store, some racks and some shoes, and promote your store… right? The second is to find a buyer who wants to buy shoes, put him/her in your car and drive around to every shoe store in town until he/she finds the perfect ones. Get the picture?

Here’s the thing: Every time you put a buyer in your car to show a listing that’s not your own, you’re basically taking that buyer to another agent’s “shoe store.” You’re essentially becoming an “employee” of sorts for that other agent. Bottom line? No inventory = no business.

Q: Great analogy. Can you expand on that?

A: Think of it like this: You’ve got six listings or, for this purpose, we’ll go back to shoes. So you’ve got six pairs of shoes, and you put four under contract this month. YEA, right? That’s terrific! Well yeah, it is – BUT dominator marchlook at your inventory. You went from six to two. When you close on them, you’ll have a surge of cash, of course, but if you don’t replenish your inventory, then you’ll head into a drought. To create continuous cash flow, you have to at least MAINTAIN or, better still, INCREASE your inventory.

Let’s say you’re brand-new, and you want to build inventory by one per month. You start out month one with one listing. Month two you get another. Month three you get another, but you close on one. So that means month three, you have to get TWO to make up for the one under contract and keep your inventory up. If the average commission is $5,000 per listing sold, and you start with zero and focus on building your inventory by one per month, you should be able to earn $100,000 within 12 months.

Q: It helps to put it in dollars and cents, doesn’t it? It’s more than just the money though – it’s about managing time as well, right?

A: Exactly. When you think like a businessperson instead of solely like a salesperson, you can balance your time. I’ll give you an example: I’ve got a student who earns a quarter million per year and takes two full months off every year to spend with family… two full months! Now if he owned a shoe store instead of a real estate business, would he close down those two months? Of course not. He’d hire a manager to handle things. In real estate, if you don’t have a “store,” or inventory, that can sell while you’re away, you can’t take time off. No inventory = no income, no time off. Lots of inventory = consistent income, ability to take time off.

Q: Love that… treating your business like a business. What a concept, right? Darryl, you’ve always been real estate fsbo marketing postcardsamazing at teaching agents how to succeed by marketing to FSBOs and expireds, but recently you’ve been sharing why it’s important to stay top of mind with a book of business and geo farm as well. Can you tell me more about that?

A: Because the worst of the housing market crash is mostly behind us, we’re going to see more and more people come into the market in the next few years. Because of that, it’s important for agents to have a consistent marketing campaign. People need to know your name, your face and what you do for a living. I still say working with FSBOs and expireds is a great way to generate listings fast – simply because they’ve already identified themselves as the hand-raisers. That said, think of your business like a wheel – the more spokes you have, the more efficient the wheel works. You eventually hit a point of diminishing return, or too many spokes, but it’s important to find the balance. One or two spokes isn’t enough to generate business momentum.

I’ll give you another example: I have a student named Marty who makes a six-figure income. He lives in South Carolina, but his business is on Long Island. He goes to Long Island once a month to take listings and meet clients. He can do that because one of his “spokes” is a mailing campaign that he sends out consistently to his sphere and farm promoting himself, his business and his listings – all while living in another state! THAT’S the power of staying positioned consistently with the right marketing tools.

Q: Wow! That’s incredible. One of the things our readers tell us is tough for them is following up. They’re either afraid of it (picking up the phone) or don’t make it a priority. Can you share some secrets to success in that area?

A: I would say focus on the activity rather than the results. Why do people fail? Because they don’t see immediate results. So they do what? They QUIT. When you switch your thinking to focus on the ACTIVITY, not the results, it helps you get past the fear.

Think of it like baseball averages. Ballplayers know the more times they get up to bat and take a swing, the more likely they are to get a hit. After a while of playing, they know their numbers… their average. The same is true in prospecting – you’ll get to know your numbers. So maybe out of 10 calls, you get five connects and two appointments. I tell my students that their goal should NOT be to get the appointment; it should be about building relationships. Why? Because it takes the pressure off.  Focusing on getting an appointment is a win/lose scenario. If you don’t get it, your reaction is, “I lost. I’m bad.” When you focus on building a relationship, every call is a win. The truth is, you’re not going to get an appointment unless there’s trust. By building relationships, you build trust – and the appointments will happen by themselves.

Going back to the last question, one of the things I like best about consistently sending out mailings is that it helps agents “warm” those calls – which makes follow-up easier, because you have something right off the bat to talk about.

Q: I love the title of your new book, How to Design a Life Worth Smiling About. I just downloaded it and can’t wait to read it! Can you tell us about it?

A: Absolutely. It’s got a lot of fun content in it, and people seem to love it. You know, I ask agents all the time, “When a homeowner lists their house with you, what do you think they want as an end result?” I get a variety of answers, of course. “To sell the home.” No. “To get the most money.” No.

Tune in, and take it all a step further. When you’ve been in the business a while, you’ll often hear homeowners say something like, “If these walls could talk.” They’re not selling a house – they’re selling their HOME. Shelter is the second most important thing to people. They’re leaving the comfort of shelter and going into an unknown. When you’re the agent who can tune into that and realize that every client you help is heading into a new chapter in their lives – and you are a part of that – don’t minimize the powerful impact. Great agents help change people’s lives for the better. When you get THAT… you’re no longer selling.

Q: Darryl, any last words of wisdom? 

A: The money we make is actually the thermometer as to how many lives we’ve helped. Focus on the lives you can help, and the money will come.

Awesome insights, Darryl. Thank you so much for sharing with us. I look forward to reading your new book and, as someone who’s known you more years than we care to count, I know all of your students, coaching members and audience members are fortunate to learn from you. Your ability to help people both laugh and learn is extraordinary.

About Darryl Davis

Darryl became a real estate agent at the age of 19 and quickly climbed the ladder to become a top producer, averaging six transactions a month. He became a licensed broker and manager of a new office that became the #1 listing and selling branch within its first 6 months of operation. He’s been named one of the highest-rated speakers at the National Association of REALTORS® convention for the past several years and is the ONLY real estate speaker who is a best-selling author with McGraw-Hill Publishing for his book, How to Become a Power Agent in Real Estate. He is the founder of The POWER Program®, a yearlong real estate coaching program that has proven results of agents doubling their income over their previous year. He’s also the creator of the nationally acclaimed three-day program S.U.R.E. Results, where agents generate an average of $33,504.82 over their previous year. And as creator of the nationally recognized term “Next Level®,” Darryl strives to bring his students and attendees to their “Next Level®” of success by training them on how to have more fun and less stress in their business and personal lives. To learn more about Darryl and his training tools and services, visit www.DarrylSpeaks.com, or contact him at 1-800-395-3905.

To learn more about staying in consistent touch with your sphere and farm (as Darryl teaches), visit www.prospectsplus.com, or call our support team at 866.405.3638 today. 

 

 

 

 

 

 

What You Do Defines Your Course of Success

by Todd Robertson

There’s a saying that sticks in my head from my days training for Floyd Wickman. He used to say, “there’s dominator march
nothing special about special people – it’s what they DO that makes them special.”  How true. So many people go through the motions of working in and on their business – but stop short of taking the massive, pro-active action that it takes to get extraordinary results.  I just recently had a conversation with one of our Market Dominator customers who believes in taking action in big ways, and in turn, is getting big results.

First, a disclaimer. Of course we recognize that there are different markets out there, and different results for different agents depending on those markets as well as agent experience and skill level.  What we also recognize after more than 25 years in this industry is that two factors really stand out when agents are firing on all levels:  skills and motivation.  This week, I challenge your to rate yourself in both categories and see if there is room in either to raise the bar so that you can raise your results.

Our Dominator Member, Patrick, dug in and took massive action. He not only signed on for the two year campaign, but he’s sending 5,000 of the 12 x 15 Market Dominator pieces per month.  Most folks take one or two carrier routes, which average anywhere from 500-1000 homes.  Patrick is sending to 5,000 each and every month.  He recently shared that after just the first couple mailings he’s taken three listing calls and recently took one listing that he listed and sold before the sign went up, getting both sides of the transaction.  That’s extraordinary, but it also showcases how he’s working and raising the bar in those two areas — skill and motivation. To generate listings and sales the way he does he has to not only market effectively, but be able to execute on that marketing.  He has to be on the top of his game in three additional areas:  presentation, qualifying people, and pricing property right the first time.  And given his results, I’d say he’s crushing all three.

Analyze yourself, your skills and motivation from 1-10.  What’s your energy level?  Your enthusiasm?  Your willingness to prospect? (Most agents least favorite thing to do.) Your listing presentation?  Your ability to price it RIGHT not just tell the seller what they want to hear? How are your negotiation skills? What’s your follow up look like? Ask yourself if you are at a 1-4 on any of those levels — how do you get to a 10?

Here’s why:  action supersedes everything.  If you’re willing to take your game from a 1 or a 3 to a 10 in every area of your business – do you think it might bee worth 5, 10 or even 20 additional listings per year?  I can tell you from experience — it absolutely can.  We’re only in month two of the year.  Are YOU ready to take ACTION?

Need help? Contact our marketing team at 866.405.3638. They’re ready to help with all your marketing needs.  Interested in learning more about the Market Dominator?  Contact Todd Robertson today via call or text at 702-683-1967 

The Power of a Plan in Place

By Julie Escobar

There’s a lot to be said for having a plan in place and sticking to it.  Primarily, the peace of mind you have when you DON’T leave your marketing and business to chance.  Chasing the next commission and worrying about where the next check is coming from is stressful for you – and your family and one of the top reasons agents burn out and leave the business.  Instead re-visit that business plan, or build a new one if you have to so that you greet each new day, week – and year with that same focus we have at the year’s start with a brand new plan in place.

To help reconnect with what agents should be doing right now to make the most of the fall market and beyond, I got in step with real estate coach and Market Dominator Director Todd Robertson.  Here’s an sept dominatorexcerpt from our conversation:

Q:  Todd, what can agents do to ensure a successful fall season? 

A:  You know the top agents I’m talking to are telling me how grateful they are that they’ve had a consistent plan in place to reach their geographic farm and sphere for a while.  It makes a world of difference when you hit the hot markets.  It puts the pressure on the competition to play catch up and puts them in the lead.  That’s the power of positioning and planning.  We talk a lot with agents about putting the 3-7-27 law of branding to work for you. That is three contacts for someone to know your name, seven to put your name with your business, and twenty-seven to become a top-of-mind brand in their minds.  That top of mind awareness coupled with confident follow up is what will take agents to the top of their market. That’s what we know is working for our Dominator customers.  They are showing up month after month with a 12×15 marketing piece in the mailboxes of their farm area.  That’s five times larger than most competitors – and 100 times more effective obviously than the agents who are just dabbling at their business and not showing up at all.  When you show up at that level month after month two things happen:  your competition goes away, and the sellers and buyers in that area see you as a serious agent with marketing savvy.  The message you’re sending is, “I’m here.  I’m a resource. And I can market YOUR home effectively.”  That’s a message that gets noticed.

Q:  Awesome.  Todd – do you have some dialogue for those agents who are planning a door-knocking campaign this fall?

A:  Sure.  The first thing I’d say is be yourself.  There are a lot of speaker/trainers who will give you ‘dialogue’ – but if it’s not comfortable for you – then it won’t feel genuine to them, so first and foremost, be yourself.  Secondly, know why you are there – which is to plant the seeds for listings and sales.  Introduce yourself, tell them who you are and what company you represent.  Our Dominator customers even have a little fun with it and say things like, “I’m the guy that’s been sending that obnoxious 12×15 poster each month!”  Ask if they have any questions you can answer and plant the question of your own – “who do you know who might be interested in listing or selling in the next 90 days?”  Will you get them all?  No, will you make a great first impression? That’s up to you. Bring you’re A-game and be your best self.  That’s the best approach you can take.

Q:   Thanks Todd.  As a student of some of the best motivators in the business, you certainly speak a great deal about the power of mindset. What do you believe should be agents’ mindset going into the last four months of the year?

A:  Yes, one thing is certain – mindset really does equal market share.  Here’s what we know.  For those agents who are confident, competent, and ready for anything in terms of knowing their presentation perfectly, being prepared for any objection that comes their way, and have rock solid skills – keeping their mindset strong and positive is a whole lot easier. Why? Because they’ve already prepared.  You can wake them from their sleep at 2am and they could deliver their presentation flawlessly.  There’s not a situation or objection that can rattle them.  They are tuned in, tapped into their market in such a way that there aren’t a whole lot of surprises. And they have a marketing and business plan in place that is the track their business runs on.  Those things are fuel for the mind because when you have that all together, getting up and hitting it hard each day aren’t as challenging.  Plus they fuel their mindset with even more fire for success by reading great words from great minds in great business books. They tap into YouTube and watch empowering and skill-mastering videos.  They are a student of their industry and continuously learn and fine-tune their business practices.  That’s what it takes in this market, and there’s never been a better or easier time to build your momentum.

Q:  Awesome.  What are your Dominator customers finding works right now?

A:  Great question. Those that have had their system in place for a while are now in full-scale follow up mode.  They are walking their geographic farms, hosting aggressive open houses, and keeping their sphere in the loop by contact them with a call, or visit every 3-4 months. They are pulling out the stops – and will continue to as they advance their momentum and their market share. What I also find is that they are service minded.  One of the reasons they chose to use the Dominator is of course, the presentation – 12×15 is hard to overlook, right?  But they also tell me that they chose it because of the content it provides.  Real resource-based material that helps to answer the questions in the minds of today’s consumers.  People are hungry for information these days.  By providing that information and consistently delivering answers for the people in the communities they serve, these agents are effectively building the rapport and trust that it takes to earn the business of those folks in those communities. I am reminded of a Zig Ziglar quote, “Stop selling, start helping.”  Taking the role of consultant and resource is a powerful way to position yourself as the turn-to agent.

Great stuff Todd. Thanks for your insights this week.  If you’re interested in learning more about Market Dominator, watch this video, and feel free to contact Todd via email today.  The system is a powerful one for agents eager to earn a 20% market share in a geographic farm area.  It taps into the cost-effective Every Door Direct Mail system provided by USPS, and when coupled with a marketing partner, is by far one of the timeliest and most affordable marketing tools you can use to farm. 

Got questions? Contact the marketing team at ProspecstsPLUS.com today at 866.405.3638.  They are happy to assist! 

Your Webinar on Demand

We had a great webinar this week, with a terrific turn out of REALTORS eager to go ‘all in’ to learn what it takes to dominate a geographic area as they head into 2015.  Great content and vision was shared by National Speaker Todd Robertson.

In fact, I loved this quote from the presentation, “Realtors who consistently achieve success have a strategy. They seem to be working smarter, better and faster then everybody else. If we can uncover those strategies and sow the same seeds, we can reap the same rewards.  We at Prospects Plus have spent over 20 years examining Realtors in the top 7% in the nation to extract and share what makes them so effective.  The key however is simplicity.  Complexity is the enemy of execution.     If we can take a concept like “Farming”  simplify it with modern technology and little work on the Realtors part . . .people know the game is winnable.    This is the essence of what we are able to accomplish with the Market Dominator.”

We’ve had a flood of emails asking for it on demand – so here it is!  We’d love to hear your thoughts!

Need more information?  Email us today at pmc@prospectsplus.com, or visit our site www.dabbleordominate.com.  

Get Your Game On! Man drawing a game strategy

By Julie Escobar

Hitting the fall market with all you have and playing to win for the long game means starting early for savvy real estate professionals.  While much of your competition will work hard this month and some of October, many will then fall into cruise control, as the holidays begin to approach. Not you! You’re in it to win it – and here are six strategies you can implement to stay top-of-mind and ahead of the curve through the end of the year — without burnout or breaking the budget.

1. Prospect, Promote and Prosper.  In changing markets, many agents stop advertising, re-direct their marketing dollars to the year ahead and put their prospecting in park until after the holidays.  Stay forward of the competition by continuing to market yourself with creative, consistent, targeted marketing.

2. Spread the Holiday Cheer.  Start now planning out the rest of your year.  Take your top 50+ clients and make it a point to not only send holiday cards each month from now through January, but also calendar time to reach out to your client base with face-to-face visits.  What may seem like a lot of time, can really be broken down into 10 or so contacts per week.  Would that be worth a sale or two?  Sure it would.  Make the calls.  Shake hands, bring a card and thank these very important people for their contribution to your career.  For those really special clients, bring along a treat for their family table and you’ll find yourself more than their REALTOR® you become a friend.   

3. Clean Out Your Client Base.  Most agents wait until January to truly wade through their client base.  Getting an early start means momentum as you head into the New Year when most are still putting away party hats and streamers.  If you don’t currently have a means of tracking your clients, click here to check out our free BusinessBASE™ client management system.  Getting to know your prospects, their families, their needs and their personalities will help you build long term, solid relationships that bring you current listings and sales as well as referrals that will build your book of business throughout your career.  Ditch the people that you DON’T want to work with, clean out old addresses (both email and snail mail), and update phone records now so that you’ve got a clean start for the first of the year. 

4. Live and Learn.  What a tremendous time to be a professional salesperson.  Never before in history has education, skill-building and growth as an agent or as a person been more simple or accessible.  How fortunate we are to have internet, 24/7 that allows us to tap in, download, read, discuss and explore ways to improve our life skills personally and professionally.  Maybe gift YOURSELF (and in turn your career and financial security) with some skill building courses, great business books and valuable audio downloads this season to help you fine tune your mad skills before the new year rolls in. 

5. Implement Systems for Success.  New agents run on adrenaline, nerve and sheer exhaustive energy.  Experience gives us the insight to set systems in place to plan now for a successful year ahead.  Calendar your direct marketing for the months to come, implement your BusinessBASE™ to insure ongoing, automated contact with your clients, and employ creative campaigns throughout the year that will differentiate you from your competition.  In a shifting market, systems simplify your life, keep you on track and maximize your market share through consistent, results producing planning. They allow you to focus on the revenue based activities that are your strength, prospecting, presenting and closing without expending energy on deciding each day, each week what your course of action should be.

When you are putting your business plan in place for the new year – choose to focus on your core – the customers and clients that know you, like you and trust you – and expand on that core as you move through the year.  Social media not your thing?  Delegate it.  Direct mail too hard to create?  Use ready-to-go and done-for-you solutions to consistently reach your sphere every month such as postcard campaigns and monthly newsletters.   Just Listed & Just Sold marketing too much to task yourself with?  Automate it with MLSmailings and not have to worry about it!  Paperwork getting the best of you?  Hire a Virtual Assistant.  There are some amazing ones out there that are affordable and talented and allow you to focus on what you do best! Next – make it a point to ADD to your core each month.  Can you add 10 new prospects per week to your list?  Absolutely.  Might it be worth an extra deal or three (or more) throughout the year?  DEFINITELY.  

6. Fall in Love With What You Do.  The secret of success is historically based in finding your niche and enjoying every minute of it.  Whatever your passion, whatever demographic of the industry lights your fire, run with it, own it and allow it to empower your prospecting with determination and enthusiasm.  This season, take stock in the incredible opportunity you have to set your own pace, create your own calendar and charter your own course for financial freedom.

Inevitably, there will be down time as the holidays roll in. You’ll have days strung together to re-charge, re-connect and realize your strength as you approach the fourth quarter and the year ahead.  Make it magical.  Take this time to set your sights on new goals, family dreams and incredible new opportunities.  Whether it is a much needed vacation, new family car or boat, include your family’s goals when creating your budget and marketing plan, so they not only know why you are negotiating into the evening and weekends, they support you.  Your goals are their goals.  Their goals are yours.

Balancing success, life and market twists and turns takes practice to be sure.  With the right systems, tools and training, you can and will find your stride.  We’re here if you need us!

For more ideas on how you can continuously impact your market area, visit our website at www.prospectsplus.com and our Master Marketing Schedule page which allows you to drop our action item tips right into your Google, Apple, or Outlook calendars!  If you have questions or need help putting together some systems for your plan – call us at 866.405.3638.  Our marketing team is awesome about helping you find the right solutions for you. 

And while you’re online…please take a moment to like our page on Facebook.  We’re always sharing new ideas, strategies and dialogues with industry experts and terrific real estate professionals just like you!  Click here to see our page!