Category: Training

michael-sheargold-mid-year-review
Jul
04

Your team’s best ever mid-year review

Mid-year is the perfect time of year to sit down with your team and check in on productivity and progress. Here’s an effective process for you as a leader to work through in order to capitalize on the next 6 months and enjoy the best preparation for the next year.

  1. The first step is to schedule this team meeting, set aside part of the day for this meeting, part of the day for a learning element and part of the day (usually the last part of the day) for a celebration with the team. Maybe that’s a beers & bbq, a dinner out, an afternoon drinks session – however your team celebrates together!
  2. Set the agenda for the meeting. This meeting is a 3 part meeting. You want to cover what is working, what’s not working and the projects you want to focus on between now and the end of the year. So basically – past, present, future.

Here’s a meeting flow for you:

Part One (Past)

An excellent way to start the meeting and clear the air from the last six months. Remember the reason for this meeting with your team – to move towards a powerful 6 months of big results. Sometimes to achieve that you need to acknowledge and move past whatever the team is hanging onto.  This section is also where you celebrate exactly what you have achieved so far as a team (whether that’s marketshare, rebrand, new office, implementing a new system, marketing campaigns, etc).

 

  • What have we achieved so far this year?
    These are real, tangible achievements.
  • What is going well?
    The highlights of this year so far – what are the wins and the standouts?
  • What hasn’t gone well so far?
    Where are the ‘clunky’ parts of the business. What is frustrating you? What problems exist in the business?

 

 

Part two (Present)

From there, the meeting evolves beautifully to current upgrades. Listen to the elements the team has just outlined in what is clunky in the business and acknowledge to fix them.

This is where you as your team’s leader is already prepared with what you want to see happen in the next 6 months, however it’s also an open forum to what the team sees they can achieve in the next 6 months.

4) What are the things we need to upgrade or improve?

 

Part Three (Future)

So, continuing the process and creating momentum for change, part three is to uncover “where to from here” and show that you have moved on from the past 6 months and looking forward to a bright future.

Focus on 3 key questions to wrap the meeting:

5) What are the December benchmarks?
At the end of the year, what are the benchmarks or successes we want to achieve so we can really say “We have moved forward in the last 6 months”.

 

6) What are the key projects that will help us achieve those benchmarks?
These might be certain systems or standards you need to implement.

 

7) Are there any quick wins we can make happen right now?
This is all about ‘new business energy’ and what can be implemented quickly to see big results.

 

This is a simple structure that you can do with your team so you can enjoy a great end of the year, popping the champagne and heading into the Christmas New Year celebrations on a high!

Please invest the time in doing this as a group (the same can be used individually with your personal team reviews). You will be amazed at the energy it can create with your team.

Side note: Mid-year is also a perfect time for an office spring clean, a chance to have any ‘hard’ conversations you’ve been putting off, a chance to show your team you appreciate them and acknowledge the hard work they’ve put in so far this year.

From a client perspective, mid-year is an awesome opportunity to ramp up client appreciation events, maybe implement an appraisal drive, reach out to your COI’s, communicate any big wins to your market and freshen up the look and feel of your website and marketing – all in preparation for the Spring selling season!

Enjoy mid-year and if you and your team would like to join me for two full days of strategy, you are invited to my award winning Agent Success Program: TurningPoint, coming up soon in Sydney. Please click here for all the info.


Michael-Sheargold-Leadership-training
May
16

How performance coaching can up-level your real estate biz

Performance coaching is about unlocking a new level of capability in your team and helping individual members achieve the next level of greatness.

Your responsibility as a leader is to bring out the absolute best in your individual team members, and ultimately the whole team, which filters through the entire business.

It is also the most under achieved area in the real estate industry.

How can we truly maximize performance coaching in our businesses to mentor others to achieve the greatness they possess? Start by seeing your individual team members as your clients. Your job as performance coach is to increase their capacity to achieve, which will ultimately enhance the performance of the entire team.

  •       Performance coaching isn’t about providing appropriate “deal support” (although deal support is an important function)
  •       Performance coaching is about helping people to achieve their goals.

As a leader in the real estate industry you fulfil three distinct functions within your business including:

  •       Leading
  •       Managing
  •       Performance Coaching

Many people confuse the three functions. Is there a difference or are these descriptions simply three “job titles” that are interchangeable?
All three roles overlap and have similarities but they are three different skill sets that are valuable in specific situations.
But how do leading and managing differ from performance coaching?

Let’s take a look:

1. Leading

Leadership qualities are important for heads of any business but the objective differs from that of performance coach. We lead people in the direction of our vision; we inspire them to see and buy into our vision.
Great leaders have integrity, top communication skills, are loyal, can make the tough decisions, empower others, and are often charismatic.
A great leader will say, “This is where we are heading and how we get there”. Once you have your team turned on to your vision you can lead them to work in unity in achieving the goal.

2. Managing

The big difference here is that we manage projects and processes, not people. As a manager you are responsible for providing clear, concise focus on outcomes, deliverables, and deadlines to your team.
A term that often gets confused with coaching is “sales management” which is the focus on the numbers, processes, and projects but it leaves out the most vital part of success: coaching your people.  
Management happens the most often within a business but would you be surprised to learn that it’s not your most important function?
You may fulfil all three capacities in your business: leader, manager, and coach, but the real challenge is recognizing when to perform which task.

Michael-Sheargold-Leadership-training


3. Performance Coaching

Performance coaching is literally moving your people towards their goals. As a performance coach within your business you guide your team members in two ways: moving people towards an effective decision and helping people be in action towards their goals.

1) Moving people towards an effective decision

The root of the word decision literally means to “cut off”; in other words, committing to a decision removes all other choices.

Making a decision cuts off all other options.

The key to successful coaching is helping your team to cut down their options. We become overwhelmed by too many options, and most often why someone doesn’t move forward.
It may look like they are procrastinating.
It may look like they are being lazy.
But in actual fact they simply don’t have clarity.
When you cut off all the options you are left with only one thing to do:
so Just Do It.


2) Helping people be in action towards their goals


This is moving your team to achieve their goals, not your goals. Big differenceSetting the right goals creates a tension similar to the strain found as an elastic band is s t r e t c h e d.
Not enough tension and the band will go nowhere (ie: low goals that don’t generate excitement to achieve).
Too much tension (from being overly stretched) and the band will snap erratically or break (as in unachievable goals that are set too high).
Your role is to nudge team members with low goals and encourage them to increase their vision.
Alternatively, and this is often true with new people, you may need to guide them to lower expectations that are too high and are unachievable or they may burn out.

Team members who don’t know where they are or where they want to be will come across as underachievers and unproductive because they are unable to take any action.
Performance coaching is guiding your team to recognise their current reality (where they are right now) and their desired reality (where they want to be).

Right in the middle of their current reality and their desired reality is a GAP. Your job as a performance coach within your team is to bridge the GAP and together design an Action Plan to move them from Point A to Point B.

TIP: If a team member seems unmotivated it may be because there is no GAP between where they are and where they want to be (the tension of where they are and where they want to be is too slack).

Your task is to work with individual team members to achieve a different desired reality that creates a challenge; a tension that motivates them to achieve.

As a coach to your team you want to:

  • Build on strengths
  • Increase confidence
  • Learn and grow
  • Empower beliefs;
  • Help to make great decisions;
  • Empower action
  • Develop habits
  • Support change
  • Create brilliant results       
  • Create accountability

We can evaluate the long term success of our coaching sessions by measuring outcomes in each particular area in which our team members are being coached. I hope you enjoyed this article about How performance coaching can up-level your real estate biz! Get to it.

If you are a leader wanting to seriously take charge of your future results and the success of your business, check out The Business of Real Estate coming up in September. 


michael-sheargold-power-of-framing-real-estate
May
09

The Power of Framing

Communication is all about gaining and giving information and details.

The way you receive the content of the information is hugely influenced by the quality of the ‘frame’ of the information.

If you can nail ‘framing’ your entire business will change, your results will shift, your relationships will improve. So framing is an essential skill to learn – not only for real estate, but for life!

Here are the 3 frames you can use immediately to become a master communicator:

1. Pre-frame


Pre-frame can be used in almost all conversations and communications, but is probably best used when you’re getting to know a buyer or seller. Initially you want to ask a lot of questions, but you don’t want them to feel as though they’re being interrogated.  

By pre-framing…

“I want to give you the best advice possible, so I can understand your needs a little more can I ask you some more questions?”

Or

“So I can help you best, do you mind if I ask some questions about your….”

By using this simple pre-frame the expectation is clear – you’re going to ask questions and they’re ready to answer them.

Or

“Besides getting the maximum sale price, what else are you looking for in an agent”.

This shows you know the maximum sale price is the key goal but it also ‘parks’ the pricing conversation until you’re ready to go through it (as part of your strategy) and gives your vendor the chance to let you know more about them and what they want from you.

A good rule is always ask yourself “what’s my pre-frame to position X?”

Once you start role playing pre-frame you will see how easy it becomes!

michael-sheargold-power-of-framing-real-estate-australia

2. Re-framing

Re-framing can be used when you come up against objections or when you need to change the frame of reference.

Some dialogue you can use at the re-frame is:

“I completely understand, perhaps another way of looking at this is X”.

Or

“I know how you feel, others have felt exactly the same way, however what we’ve found is that X”

This is the feel, felt, found strategy – a very powerful influencing tool!

 

3. Next framing

Next framing uses the ‘where to from here’ strategy. And what you want to do is leave the next step in the process for your buyers and sellers to follow. This ‘frames’ what is going to happen when next you speak or meet.

Here’s some examples:

“Here’s what I recommend – we’re going to put together some notes on X, do some research and when we meet on Tuesday we’ll be able to make that decision”.

Or  

“We’ve agreed to touch base tomorrow morning where we’ll press the go button”.

That way they’re expecting that tomorrow you will be in touch and the process will start. It’s not a surprise for them. It also can bring about any objections you may not know of. Better to know earlier than later.

 

There are 3 key ‘frames’ you can use immediately to seriously upgrade your communication skills and watch your results soar.

I’d love to hear your thoughts on framing, if you’d like to leave a comment below..

 


michael sheargold, How to confidently move into a new market (listing presentation)
May
08

How to confidently move into a new market (listing presentation)

Are you thinking of moving into a new market? Or have you been called into a listing for a type of property you don’t normally sell?

Well this article is for you.

A question I get asked often is;

“How do I position myself as the preferred vendor option in a market where I am not the clear market leader?”

 

… what an opportunity!

So you’ve been called in for a listing presentation to a property that is in a new market for you (in terms of price or property type).

Firstly, well done – you’ve made it this far. ..now it’s time to nail your listing presentation and step into a new zone of confidence. Hopefully these tips will help!

  1. Role play a brilliant pre-framing process.

    Framing your position will set you up for a powerful conversation, create clarity for the vendor and allow you to seamlessly move the conversation to the benefits of working with you.

    Imagine now you are sitting down with a vendor who owns a type of property you don’t normally sell (for example, a high end property). They must be asking themselves why you will be the best choice for them, given this is not your usual area of expertise.

    Rather than avoiding this question and conversation – surface it straight away with them.

    “Mr and Mrs Vendor, If I was in your shoes the biggest question i’d have in my mind is ‘why would I appoint my agency over X agency that has proven track record in this end of the marketplace….”
  2. Give an explanation.

    You’ve surfaced the conversation – now it’s time for your big positioning. This is a crucial element of your listing presentation. So explain why your agency can be the best choice:

    “So today, we’re incredibly excited to show the layers of difference and the fresh approach we bring to this end of the marketplace that will clearly give your property a significant advantage – compared to getting lost in a sea of other properties at this end of the market.”michael-sheargold-real-estate-training-australia
  3. Back it up.You then need to show or honor the ‘layers of difference’ and the ‘fresh approach’ you mentioned. This is where you talk about your agency’s point of difference, your team’s energy, how you connect with your potential buyers and the type of care and attention their property will receive as part of your team.Your fresh approach can be based on the marketing opportunities their property will present, some innovative ways you’d like to position their property, etc.

    Make the point that buyers follow properties not agents. And that you will present their property in the best possible way.

  4. Extra proof.


    Next you want to give examples and show case studies of successful sales in a similar property. If you have no case studies of a similar property – try case studies of where you have gone above and beyond to make your vendor’s property goals a reality. Ideally you want a lot of case studies up your sleeve!

 

There you have 4 key points to include at your next listing presentation for a property that is out of your ‘normal’ market.

The key for a listing presentation like this (where you have been called into a listing for a type of property you don’t normally sell) is to be prepared, be confident and truly believe you are the choice for your vendor.

Would you like to experience a full two days of strategy with me where we uncover your essential listing, negotiation, buyer and seller management, marketing and influencing strategies so that you can become the clear agent of choice in your market? Then join me at TurningPoint. Click here for more information. 


michaelsheargold, success, real estate coaching, training, leadership strategies, agent success
May
07

Valuable Questioning Strategies you can use today

Something you may have heard me say at a workshop is;

“The only questions that get answered are the questions that get asked”.

Questioning can be an extremely powerful tool to use at any stage of your buyer or seller management strategy. At the beginning of your relationship with a client is where Questioning will be of most benefit to you.

Here are some questioning strategies that you can use right away to create powerful conversations, help you win more business and gain commitment from your clients:

Pre-framing questions

Framing is the most powerful under-ultilised influencing strategy in the world today! Pre-framing is all about you setting the scene for the conversation you want to have.

Examples are:
“So that I can help you best, do you mind if I ask you a few questions?”

“Other than achieving the highest price possible, what are you looking for in an agent?”

 

Question softeners

Sometimes you need to ask your clients hard questions. The key here is to make them more conversational (not interrogational).

An example of asking a client if they’re ready to go financially could be:

“We’re in a fast moving market, seeing a lot of properties move rapidly. Just wondering, do you have your finances in place?”

 

Tell me more

When a client has an objection or states something you’re not quite sure of, you can ask;
“Tell me more about that” or “How do you mean?”

 

Question with a question

When your client asks a question you can answer with a question. This is to create engagement, start a conversation, uncover more information. The more information you know about your client’s situation, the better you will be able to help them.

 

ABC

Always Be Confirming. This is where you check in with your client and gain confirmation from them that together you’re moving ahead positively.

Confirming question examples:

“Are we on the right track?”

“Is that ok with you?”

“Would you be comfortable with that?”

“Does that clarify it with you?”

 

4W’s

These 4 questions are crucial to understanding your client’s goals and timelines.

  • Where are you planning to move to?
  • When ideally would you like to make it happen?
  • What ideally are you looking for?
  • And, why?

There you have some easy to implement questioning strategies to use today with your clients. Remember the goal of any real estate agent – to help your clients achieve their property goals. Questioning will allow you to reach that goal faster!

Please share your questions in the comments below.


michaelsheargold, success, real estate coaching, training, leadership strategies, agent success
Apr
30

3 Keys to a Successful Pricing Conversation

The most effective form of marketing is a well priced property – however, the pricing conversation is both art and science!

In this article I’m sharing an easy 3 point strategy on how to position your pricing conversation at the listing appointment.

  1. Evidence through comparables

    This is where you explain what the property is worth and why. Give comparables on similar properties that have recently sold and comparables to properties that are currently on the market.
  2. Explain the goal

    Once you’ve gone through the evidence, you can explain the ‘fair market value’ for the property is sitting somewhere in this price range ($X – $X).

    At this stage you’re helping your clients make a great decision on where the property is going to be “market attractive”. You can explain your desire to create a market within a market specifically for their property (more demand – more leverage) and how you will work to achieve above an above market price for them.
  3. Examples & case studies

    Always back-up your claims of what you will achieve for them with solid case studies. Choose case studies of similar sellers or similar properties so they can get a feel for what the selling process will be like with you as their agent.

Once you’ve gone through your listing presentation and had the pricing conversation remember to ask for the business and get to work!

Let me know if you have any questions in the comments below.


Momentum pulse check - are you moving in the right direction, michael sheargold, leadership, real estate
Apr
09

Momentum Pulse Check – are you moving in the right direction?

The word “momentum” conquers up a vision of success, of winning, of moving forward. It is particularly important in business. When you experience momentum in your business, you seem to accomplish much more – your team is motivated, your customers are happy and the results will speak for themselves.

How do you know if your business is experiencing healthy momentum?

There are five key questions that can help you identify whether or not your business is experiencing a level of healthy momentum. How well you can answer these questions will be the underlying indicator of success:

 

1)     How effectively are you bringing your best self to work?

Like everyone, your work performance can be affected by external influences – family, friends, partners, life in general!  

Best to quarantine those influences and come to the field bringing your best self. This is particularly important as a leader because your team will look to you for guidance on the general business and team energy.

An acronym for CEO is Chief Energy Officer so quickly check in with yourself and think back over the last few weeks – have you been bringing your best self to work?

 

2)     How well have you mastered your routines?

Routines bring results! When something works, share it, document it, create a system around it and implement it. Look back over the strategies which have created the best results for your business and team over the last 12 months and turn them into habits asap!

 

3)     How effective is your leadership?

Every single person in the business needs to take ownership of their leadership. What are you doing to enhance your leadership and set you apart? 

 

4)     Are you fully embracing client experience (CX)?

CX is the new differentiator and the currency which will keep your business relevant. You need to be outperforming all service providers in your market (and you can aim to outperform not just those in your industry). To read more about CX click here.

 

5)     How well are you looking after you?

Are you eating right? Sleeping right? Relaxing right? You can be a much stronger leader if you feel strong and healthy. If you are feeling stressed and overwhelmed chances are it’s affecting your performance and results. Find your healthy mix and nail it.

These five questions, together with our success formula will give you the Momentum Pulse Check you need and your ultimate framework for success.

To find out more contact the team on 1300 273 785.


How do I stand out in a competitive real estate market?
Nov
09

How do I stand out in a competitive real estate market?

4 Questions to ask yourself right now to identify how you can stand out and be seen by your market.

As an agent looking to consistently grow your business base you’re looking for strategies to stand out against your competitors.

You want to be seen as a true leader in your market.

You want to be seen as the agent of choice for your clients (and their networks).

The question is how…

How do I stand out in a competitive real estate market?

Well it take time, and a plan and the answer is simple…

To stand out in a competitive market you must create your Ideal Agent Identity.

This one strategy will act as a guidepost for your community of who you are and what you specialise in.

You’re giving your clients and community a level of awareness about what it means to work with you (and making it super easy for them to chose to work with you in buying and selling a property that fits into your specialisation).

You get the chance to design what you want to be known for, what you want to specialise in, how you want to be seen.

How do I stand out in a competitive real estate market?

To start creating your Ideal Agent Identity here are some questions to ask yourself right now:

  1. What kind of agent do I see myself being?
  2. What kind of properties do I specialise in selling?
  3. What is unique about working with me?
  4. What kind of experience do I provide for my clients?

These 4 questions start forming the foundation for your Ideal Agent Identity and once you have answered them you can start to incorporate your answers into your communication with your potential clients and stand out in your competitive market.

This is a long term strategy as you get to envisage yourself and your business 5 years in the future – however – you can start to live into this identity starting now – through how you are with your clients, how you are at open homes, how you are on social media.

Understanding who you want to be and why is a great exercise to do at the same time as your end-of-year planning session!

Click here for more information on our upcoming training workshops where you can learn key real estate strategies to set you apart from your competitors. 


How do I nurture my real estate clients?
Nov
02

How do I nurture my real estate clients?

Quick Tips to nurture your clients to see more consistent business.

What does ‘nurture’ really mean when it comes to your real estate clients?

Well, nurturing is basically connecting in a positive way…

And it’s one of the most overlooked strategies in real estate!

When it comes to you as a professional real estate agent, nurturing your clients is about making sure your connection is adding value to your clients whilst helping them achieve their real estate goals.

How do I nurture my real estate clients?

 

Why do you nurture?

When you are able to consistently add value to your clients and ensure each connection they have with you is a positive experience, you are able to enjoy more business and engaged conversations..

…which equates to more listings, referrals, market share and commissions.

So nurturing is definitely important!

Who do you nurture?

Well you can start here:

  • Your Pipeline
  • Your existing clients
  • Your Circle of Influence

How do you nurture?

You nurture through connecting.

To add value, you nurture through understanding the valid reasons to connect with your clients.

These valid reasons to connect can include:

  • Recent sales report /video
  • Suburb report/video
  • Quarterly market update
  • Renovations and tradesperson recommendations
  • Changes in council
  • Changes in stamp duty/rates
  • Invitation to an investment seminar
  • Invitation to open home or private showing
  • Information on a new marketing program
  • Community invitation to charity event
  • New office opening (for your agency)
  • Client thank you event (ie movie night, bbq, pizza night)

Keep in mind the goal of being able to help your clients achieve their property goals – nurturing your clients to that outcome means that each connection should add value to your clients.

When you start to brainstorm there are a tonne of valid reasons for connecting and nurturing your pipeline which will provide them with information they may not yet have and they definitely need to get them closer to their property goals.

A great agent nurtures consistently; it’s one of the secrets to real estate success.


For more success strategies I’d love for you to join me at an upcoming training workshop. Check out what is available for you now, here.


How to generate more real estate listings through key relationships
Oct
26

How to generate more real estate listings through key relationships

A long term generating strategy that you can start today.

How do you create more visibility in your marketplace and increase your listing opportunities?

Expand your network or what I like to call…

Your Circle of Influence or COI.

Your Circle of Influence are people in your market place who will know when someone is thinking of selling before you do.

The type of people you could consider in your circle of influence are people like: Solicitors, school principals, tradies, landscapers, developers, builders, hairdressers, mortgage brokers, local business network, presidents of clubs etc.

Your COI is a key element to your generating strategy and when you nurture your COI’s effectively you can see a dramatic increase in your listing opportunities.

What’s even more attractive is that your listing success is incredibly high when you can gain a solid third party endorsement from people in your COI.

So really focus in and nurture these people – it will massively help with your referral business base!

If you haven’t yet created a COI I urge you to start today, making a list of the Top 20 people you would like to connect with and nurture a relationship with.

Here’s a few criteria for your Top 20:

  • They are Pro-You. They will sing your praises in your market.
  • They themselves have a strong circle of influence in the community.
  • You can add value to them (you add value to each other).

How to generate more real estate listings through key relationships

Creating and maintaining your Circle of Influence is an awesome success strategy for real estate agents wanting to create more visibility and connection in your marketplace.

This is just one element of your generating strategy but it can be a really beneficial one!

For more success strategies I’d love for you to join me at an upcoming workshop. Click here to see our list of training and coaching workshops.