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Thursday, April 18, 2024

Inspired Insights from World-Class Real Estate Speaker and Coach Darryl Davis

by Julie Escobar

When you are looking for straight-talk strategies for building not just a business — but a successful book of business, it’s always a good idea to go to someone who not only knows how to help agents succeed at exceptional levels — but one who just tells it like it is.  For that? I reached out to my old friend Darryl Davis. He’s an Darryl Davis 06author, speaker, trainer, coach — and one of the funniest guys you can talk to.  His analogies and ability to weave a story into a message are epic. It’s part of what makes him such an effective speaker – it’s also why I wanted to interview him for this topic!

Q: Hey Darryl, thanks for sharing your insights with us again for this edition.  Our focus this time around is really building a strong business base.  Can you share some thoughts on  that?

A:  Building a business?  You know I’m a FSBO/Expired guy – but when we are talking about building a business foundation?  Know that there are two types of contacts to focus on.

First there is your geographic farm.  These folks don’t know you yet, so it’s your job to help them with that.  For this group, you’ve got to stay in touch monthly.  Your nov-domname, your face, your brand, your results each and every month.  Of course, you guys make that easy for them with products like the…

You’re building trust and establishing yourself as the agent to call.

Secondly, there’s your sphere – or those folks that know your name, face, what you do, and trust you enough to do business with. This breaks into people you haven’t worked with before, (family, friends, acquaintances) and those you have (past sellers or buyers).  For these folks to remember you, remember that you’re in real estate and that well, you know, they should call YOU before the guy down the street when they have a real estate question or need or an amazing referral, you need to stay in touch. I usually recommend at least 4-6 times per year with this crowd with things like:thanksgiving2016v6thumbsstnd

I’ll give you a great tip:  Every single January I’d send a copy of the HUD statement to everyone who has every purchased a home through me in the last year with a note saying, “Congratulations on owning a home! I’ve taken the liberty of making a copy of your HUD statement so you have it handy to give to your
accountant.  Hope things are going great! I’d love to hear from you if you need anything.”  Wow – see you just saved them time and stress and made a contact that personal to them. Win-win-win.communitynewsnovthumbsfront4

For every other client/customer of mine? At the first of the year I would send an updated market analysis to with a note that said something like, “Just as you would check your stock portfolio, 401K, etc., it’s also a good idea to do a check in on the market analysis of your home investment.  As always, I’m here to help if you have any real estate questions or needs!”

Stay top of mind with these folks by sending them something to help them stay connected to you and recognize that you’re there as a resource. And don’t be shy about picking up the phone and saying hello and asking if people need anything a couple times per year.  Or creating opportunities to see them in person.

Q: Darryl, I loved your message in our last magazine where you talked about listing INVENTORY being the name of the game, not just listings. Can you share a little more about that?

A:  What I’ve been teaching is that agents need to look at their business as if they were running a store.  With a store, you’ve got a location, employees, and you’ve got to stock and manage your inventory. So, say you were selling candy?  You must have enough candy on the shelves when customers come in right?  Otherwise people are going to buy their candy somewhere else! So if you’re a real estate agent your inventory is real estate.  I tell agents to make a chart January-December on the bottom andneighborhood update series the numbers 0-20 on the left side.  Next, plot it out. Say your goal is to get four listings per month and build your inventory.  Now you have get four listings in January, but you sell two. You know you need to replace those two, plus get four more for February and so on.  Creating a visual to see whether your graph is going up (the right direction) or down (further from your goals) helps you think like a business person.  And that? Is a big key to success. Because there are a LOT of agents running around with a fly-by-the-seat-of-their-pants approach to their real estate career – which is fine if you want to always wonder where your next commission is coming from or if burn out is your thing. But top agents who want to be at this a long time and have a lot to show for it, understand that applying true business practices and mindsets is the win-win they need.

Q: You hit the nail on the head.  One topic that seems to come up a lot with agents is the idea that they just don’t have the time to focus on databases and marketing and details!  What would your advice be in terms of time management?

A:  First, I would tell them to be crystal clear on their priorities.  In real estate, it’s easy to get distracted with things that don’t forward your business.  I’ll tell you a little story. There’s a woman named Rachel Lust who is a Hula Hooper.  If you look her up on YouTube, you’ll see she has hundreds of thousands of views and likes. She did the halftime show for the Chicago Bulls.  She is the most famous person in the world of hula hooping.  She’s got a line of videos, hoops, clothes, you name it.  Do you know what Rachel does for two hours a day, six days a week, no matter what?  Yep. She Hula Hoops.  Why? Because literally NOTHING else matters if she’s not good at her trade.  It’s the same with agents.  If you aren’t prospecting, looking for listing inventory, and taking new listings – the rest doesn’t matter.

I’ll give you another example.  I ran the NYC Marathon. Now here’s what you might not know about me:  I HATE exercise.  Hate it. Five days a week, I had to get up in the morning and run, and one day a week I had to cross train. For five months, I had to do this.  Didn’t want to do it. Didn’t feel like doing it. It was uncomfortable. For me to meet this commitment I made, and log in the two hours of running every day, I had to get up two hours earlier to make it work.  Here’s the thing: I couldn’t fit running into my life, I had to fit my life around the commitment to run.

That’s how you’ve got to look at what it takes to make it at high levels in this business.  You see the agents that say, “I’ll get to prospecting after I check my Facebook, and my emails, and my this or that.” Time management is not the problem there.  Commitment is the problem. Everything you need to do lines up behind the commitment.

Say you’re having a party.  That means there’s cooking, cleaning, preparing all that has to be done. But you’re running late–right? Now you say you’ve got two hours of work to do in just thirty minutes.  Do you do it? YES!  That?  Is a BREAKTHROUGH. Because when you REALLY have to get something done you do it.  Manage your activities, and what dictates those activities is your commitment. People who are passionate about commitment don’t have time management issues. They are focused, clear, and committed.  They don’t just do commitments – they are commitment.

Q:  What additional advice do you have for agents who want to really knock it out of the park this year in real estate?

A:  That one is easy. Systemize your business.  Run it like a business.  Think like Rachel Lust. She has moves that she has absolutely mastered with that Hula Hoop.  Then she masters another, and another. It’s like dancing. If you only know five dance steps – you don’t look so good out there on the floor-right? In real estate there are definitely some dance moves to master. Moves like…

  1. Prospecting
  2. Listing Appointments
  3. Customer Service
  4. Working (playing) with Buyers (I call this a break from real work)
  5. Negotiating offers
  6. Use of metaphors and analogies (these are what set you apart – give you distinction)

All of these moves take commitment, solid commitment. Figure out what you real commitment is. What you really want to accomplish, then let everything else line up behind that goal.  I just caution you to make it more about the people – the lives you help – rather than the money. When you do it right and your passion is for the people you can help, the money comes.

Awesome stuff Darryl. Thanks for sharing.  If you’d like to learn more about Darryl’s training courses and products, please visit www.DarrylSpeaks.com – and read his bio below.

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. 

 

Then Putting the Who, What, and When Together

By Julie Escobar

As we head into the final months of the year, a lot of agents are already wisely getting into planning mode. One sticking point that stumps a lot of real estate professionals is building the right marketing lists to fuel their pipeline of business.  Let’s take a look at some simple strategies to put into place:

Sphere, Farm, Niche – it’s the real estate agent’s version of lather, rinse, and repeat.  Success in this business stems from staying in touch, staying positioned, and top of mind for the folks in all three.  I’m often asked by agents, “Where do I start?” The obvious is ‘the sphere’, aka – your sphere of influence or book of business.

Now, if I had a dollar for every agent that said ‘no” when asked if they had ever taken the time to actually put their sphere (those people that already know you, like you, trust you, and would do business with you) into a database, I could buy a very large piece of property – like an island or something! So don’t let yourself fall into THAT category! Savvy agents understand that their best customers, are the ones they’ve built and nurtured relationships with consistently.  Who should be in in your sphere?  Family, friends, neighbors, colleagues, past clients – and all those folks whose lives you touch and touch yours back. businessbase

Sphere:  For a list of 250 people that SHOULD be in your book of business, download a pdf of our BusinessBASETM at no cost today.  Then make THIS the week you make putting YOUR sphere into a working, viable, referral-generating database.  Need help inputting all the data?  There are lots of college students home for the summer already that would be perfect for that kind of task.  Or hire a Virtual Assistant for the project.  Your highest and best use of time is prospecting, presenting, and closing – so gather up the data – and delegate it to someone to make it happen.

Four great marketing pieces for your sphere:

  1. Holiday postcards – there’s something every month that can be sent as a friendly hello.
  2. Recipe cards – many agents swear by these as customer ‘keepers’.
  3. Newsletters – these powerful tools are perfect for connecting with your sphere.
  4. Content cards – these are content-rich, consumer-friendly postcards filled to the brim with valuable information that people love.

Farm:  Pick an area – but not just ANY area.  I asked Coach Todd Robertson for a little how-to advice for map my mail dataagents on choosing the right farm area for them.  He shared, “I work with a lot of agents to help them really fine tune what area they want to market.  Even if you find a geographic farm that you think works for you location wise with commission-friendly price ranges, you still need to be mindful of two other factors:  The turn-over rate, and the competition.  Ideally, we want to help position you to receive a 20% market share in a geo farm. If you start in a farm where another agent already has that or higher, you’re going to work much harder and have to be at it longer to see the results you’re seeking.  Finding an area where any one agent has less than 10% market share is preferable, or if you see an area where a previously aggressive agent has slowed or stopped their marketing.  In terms of turnover rate, ideally you want a one that is at least 10-15%.  You can easily determine the turnover rate by dividing the number of homes in the farm by the number of homes which have sold.”  That’s a great starting point.  So take a snapshot of your market area – look at the neighborhoods that may fit that criteria close to you, then use our MapMyMailSM system to easily capture mailings lists from those areas.  You can choose a radial search by address, or choose to search by zip code or counties. Talk to your broker, look at your options – then map out your marketing list! Once you have that – then remember to stay CONSISTENTLY in touch with these folks – month after month.    For a great read and more tips from Todd – read The Smart Scoop on Geographic Farming.

Three great tools for connecting with your farm:

  1. Neighborhood Update/Free Offer series: People want two things: to know the agent they work with can get results – and that they have the resources they need.  These cards present you as the agent with both!
  2. Listing Inventory Series: These postcards speak to the mindset of potential sellers with the right questions and direct response offers.
  3. The Market Dominator: For agents serious about dominating a geographic farm and earning a 20% market share.  This powerful, direct-response piece is 12×15 and attention grabbing.  It also takes advantage of Every Door Direct Mail, so the cost is even more affordable.

Niche:  Top agents don’t stop at just marketing to a sphere and farm. They specialize in a demographic that resonates with them.

Here are some ideas for working a niche:pp demographic search data

  • Investors: Use our MapMyMailSM – choose the demographic search option, then custom, then choose records with a household income of $150,000 or higher.  You can also look for REI or REIA websites to learn more about real estate investors.   Use our Investor Series postcards to reach out to these lists each month.
  • FSBOS & Expireds: There are great services such as LandVoice that offer data for FSBOs & Expireds in market areas all across North America.  Use our 7 Series for FSBOs or Expireds – send 3-7 postcards in rapid succession (every 3-5 days) as soon as you see a new prospect for these demographics, offer a free report such as 5 Factors That Cause a Property Not to Sell, and follow up after you’ve sent the postcards with a direct response offer.  Offer to perform a Merchandising Review to ensure that the home gets sold for the best possible price in the fastest possible time.
  • First Time Home Buyers: Use the MapMyMailSM system to find local renters.  Offer a variety of free reports such as How to Save for a Down Payment, or Top Ten Checklist for Choosing an Agent. Send our First time home buyer/renter series of postcards monthly with a fair trade offer to connect.
  • Seniors: You can use that same MapMyMailSM technology to find Baby Boomers and older.  Send our Senior series of postcards to these fine folks!
  • Get creative: From motorcycle enthusiasts, to local sports team members, to boaters, to farmers, and everything in between.  Finding the group of people that you really connect with and would love to serve and work with is a great way to get continuously better as an agent and build a powerful referral network.  You can edit our holiday, inspiration, recipe, content cards, or even image series to alter your message for each and every demographic.

We also have powerful Specialty Data Selects Using Nielsen’s PRIZM Codes available on the site to help you tap into incredibly detailed data segments to help make their marketing easier – and more effective. What is PRIZM segmentation? According to Nielsen, “Segmentation links your customer data with household-level and neighborhood-level demographics, syndicated survey and primary research data to reveal exactly what types of consumers are currently using your products or services. Any customer files, lists or survey data with complete addresses or at least a ZIP code can be coded with Nielsen’s segmentation systems. This allows you to identify your best prospect segments with the greatest efficiency for effective marketing strategies that align with marketplace demands.”

Smart, right? So what does that mean to YOU as a real estate professional? It means that marketing just got more interesting. See our Nielsen PRIZM options here.

For all three marketing avenues – your sphere, farm, and niche – be sure to connect every 28-45 days consistently to ensure that you maintain that top-of-mind awareness.  Armed with your database and marketing materials, and a reminder system to FOLLOW up with the folks in each will give you the competitive edge in your market that will allow you to develop and maintain a long and prosperous career.  Ready, set – GO!

Need help getting started? Contact our marketing professionals today at 866.405.3638.  They are an amazing resource – and they truly care about your success.  Happy Listing!

 

It’s an exciting time to be an agent!  Did you know? Each month we add powerful new tools to help sales professionals stay top of mind in their markets.

Here’s what’s new for October!  oct-toolsHoliday postcards are a great way to reach out to your sphere each month. Savvy agent DON’T just wait for Christmas and Easter to stay in touch.  When choosing holiday postcards, please allow two weeks for timely delivery.

Rules of thumb for postcard mailing timeliness:

Need it fast? Choose First Class Mail Option:  Delivered by the Post Office in 3 – 5 days. Best for time-sensitive mailings, such as “Just Listed”, “Just Sold” or “Open House postcards.

Got a little more time? Choose Standard Class: Delivered by the Post Office in 14 – 21 days. Best for recurring mailings, such as Recipe or Inspiration postcards.4-reasons

Our Content postcards are perfect for agents who like to use education-based marketing tools. An alternative to full newsletters, these gems are filled with insightful, timely information that consumers love to read (and share), they are a simple way to stay top-of-mind with both your sphere and farm — and present yourself as an expert in your field.  You’ll find over 20 varieties in this series.oct-com-news

And our all new Community News newsletter series is a great way to stay connected with your sphere as well. Filled with timely information and done-for-you content! A new issue is released each month and perfect for staying time of mind with potential buyers and sellers.

Head over to our Specials page to get all your budget-saving promo codes which will save you 10% on your next orders.

Don’t forget! For every Holiday Postcard order placed through the end of the year, we’re donating 10% to St. Jude Children’s Hospital. Get started today.

Need help? Call our team at 866.405.3638.

3 Steps to Showing Up & Creating a Connection

By Julie Escobar

Raise your hand if you’ve ever sent a marketing mailing to a list of folks that don’t know you yet and got discouraged when you didn’t get a call.  It’s frustrating for sure, but it is also one of the biggest marketing mistakes an agent can make. One and done has never been a recipe for success and in today’s world of over media saturation, it is certainly not the time to re-test that theory.  Bottom line? Branding takes TIME. Repetition. Consistency. And follow up.

That’s the heart of farming, and just like traditional farming, the success goes to those who systematically oct-16-dominatorplant the seeds, cultivate the crops and later reap what they have sown. Then repeat the process for as long as they want to continue to effectively farm.  For agents the process is much the same.

Step One:  Stake your claim. Start with a plot or a geographic neighborhood area that is…

  • Starting to see turnover
  • Has a high homeowner vs renter ratio
  • Does not have another agent already dominating market share
  • Has a price point that makes sense for your area

Step Two: Plant the seeds. For effective geo-farming, your monthly marketing should…

  • Capture people’s interest
  • Offers valuable content and fair trade itemsNeighborhood update postcards
  • Present you as the neighborhood specialist and real estate expert
  • Showcase your consistency and professionalism

Three of the most popular tools that many customers use to do this effectively are our:

Step Three:  Follow up. The best agents aren’t leaving anything to chance. They know that just as their marketing tools are the ‘seeds’ for market share success, they must also cultivate that farm with personalized attention.  Here are some great examples of cultivation activities:

  • Walk your farm area with powerful collateral material. Our Market Dominator customers use their extra 20 Dominators. You can also use Free Reports or offer to do a Free Comparative Market Analysis.
  • Set up a meet-and-greet either at the local community center, library or even coffee shop to let neighbors in that area know you are there with answers to their questions.
  • Use a gentle approach. Instead of the “have you thought about selling your house” as your opening line, just introduce yourself. Let people know you’re in the area. Explain that during this changing time, a lot of people have questions and you just wanted to let folks know how they can find the answer when they need them.
  • Invite to an open house. Once you get a listing, be aggressive about hosting open houses in that neighborhood and inviting all the neighbors in.
  • Have some fun connecting! Bookmark our Master Marketing Schedule today and see all the fun and creative ways you can make a GREAT impression on the folks in your marketplace and have a great time doing it.

Once you’ve done all three, start over again.  Branding and earning market share is much more of a long game – a marathon rather than a spring.  But in the end, you’ll reap what you sow.  Keep consistent.  Talk to people. Make your face and name they think of when the idea of real estate pops into their head. That way? You are positioned perfectly as the one to call when they are ready to buy or sell or know of someone who is.

When should you start?  The sooner you do, the sooner you’ll start seeing results.  Plant those seeds.  We can help.   Call our team at 866.405.3638 today or head over to www.prospectsplus.com and get started!

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