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.
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.
To start creating your Ideal Agent Identity here are some questions to ask yourself right now:
What kind of agent do I see myself being?
What kind of properties do I specialise in selling?
What is unique about working with me?
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.
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.
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 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
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.
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).
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.
A 90 Day Plan lets you start towards achieving your big career goal.
You’ve heard that saying “A goal without a plan is just a wish”…
Well nothing is more true when it comes to your goals for your career and business.
So today I want to share with you a simple process to build your “Results Plan of Action” over 90 Days.
The best time to create a 90 Day Plan is when you have achieved a clear vision of what you want your immediate future to look like. If in 6 months you want to double your revenue – create your 90 Day Plan now, based on that goal.
If in 12 months you want to be Number One Agent in your area – you need to start somewhere – create your 90 Day Plan now, based on that goal.
If in 3 months you know you need at least 50% more commission to fund a new home or a wedding or your children’s university fees – create your 90 Day Plan now, based on that goal. You will be surprised by what you can achieve in 90 Days and the plan starts now…
So here is a quick structure for you to follow when crafting your 90 Day Plan:
Start with a Performance Review where you can analyse:
– What has gone well in the last 12 months?
– What hasn’t gone well in the last 12 months?
– What areas of your business are a little ‘clunky’ and need attention (in order for you to achieve your goal)?
– What are the upgrades you can commit to (in order for you to achieve your goal)?
This exercise gives you an insight into where you can focus your time and attention over the next 90 Days.
Now you’ve had that real conversation with yourself it’s time to outline the plan:
– Write out the top 3 – 5 key goals you want to achieve in the next 90 Days.
These 3 – 5 goals support your larger career goal and act as important steps to seeing that larger goal come to life.
Next, time to dig deeper: Coming out of your top 3 – 5 goals, what are the key projects that need to happen in order to achieve the goals.?
For example, you want to become the Number One Agent in your area in 12 months time. Over the next 90 Days, one of your top 3 goals is to create your Circle of Influence so you can be nurture better relationships in your circle, be seen more in your community and ultimately generate more listings. So a key project around your goal of creating your Circle of Influence would be a establishing a communicating and nurturing program for the top 20 people you’d like to see within your Circle of Influence.
An important note about key projects…
If you’re a lead agent running a SuperTeam, you must ensure that everyone in your team is across the key projects and understands their responsibility around each project.
The Fourth step in your 90 Day plan is to outline your quick wins:
Looking at your key projects, what are the quick wins you can action immediately – to help you achieve your 90 Day plan goals?
This may be a prospecting blitz, you may have 20 Buyers in your pipeline that you haven’t connected with in some time – start to brainstorm and you’ll see there are more opportunities available to you now than you realise!
The final step to the 90 Day plan is simply doing the work: As you find yourself working through the plan, check in on your progress.
Having a 90 Day Plan and only checking in on the plan at Day 1 and Day 90 is not going to work – when you commit to this process you need to monitor the effectiveness of the strategies you’ve employed along the way.
If you can see yourself heading off course, take action to rectify it.
At any time you feel completely overwhelmed by what you have set yourself to achieve, take yourself out for a coffee and review your top 3 goals as well as your big career goal. Ask yourself why they are so important and what they mean to you and your family?
Here’s a reminder of the process I’ve just outlined for you:
Big Career Goal
Top 3 – 5 Goals in the next 90 Days
Key Projects to help you achieve your Top 3 – 5 goals in the next 90 Days
The 90 Day Plan is a simple process that when implemented successfully has the power to change your career.
So, get to it! If you’re looking for more strategy and more learning, discover a variety of training workshops available for you now, click here.
Some agents love being held accountable because they know it drives them to achieve more.
Some agents loathe accountability because they feel they need to be organised and planned and structured to truly be accountable.
As a Coach here’s the biggest lesson I can share around accountability:
You cannot hold someone accountable for something they’re not committed to!
Which is why the initial phases of establishing a coaching relationship with a person on your team is so important. During these initial phases, you start to:
Understand what drives and motivates someone
Understand why someone is passionate about real estate
Understand what is holding someone back from success
When you can get a clear understanding of these matters from each person you are coaching you help them to create a compelling future and then commit to it.
Only when you have this commitment can you move into the accountability zone with them.
Here are some tips around accountability:
People don’t want accountability
People need accountability
You must ask permission for accountability
You create an agreement for accountability with your client
Reward when your client is performing
Non-reward they are not performing
When you’re struggling to gain accountability with a team member you’re coaching you can ask this question:
“What’s going to need to happen for us to not have this conversation again?”
Also, remember your own accountability in the relationship. And what I mean by that is..
If you’ve committed to a meeting, turn up. If you’ve committed to a coaching relationship: be present. If you’ve asked them for something, acknowledge when you receive it and give feedback plus next steps.
Remember: Coaching is a two-way street.
When you step into a new level of coaching mastery you can empower your team to also up their game. Together you can create the results you want to achieve and see your team and your business thrive.
For more coaching success strategies I’d love for you to join me at Coach the Coach, ultimate empowerment program. Check it out here.
For a super effective sales meeting, you can follow some simple yet highly useful tips!
The first step is to be clear on your objectives; what is the aim of the meeting, what are you going to achieve, is there a core message you want to convey at the meeting?
When you have these in mind, the second step is to focus on achieving the specific high-impact goals. When you do, your sales meetings will fast become the highlight of the week for you and your team.
To help you right now I’ve prepared two lists for you; One is “The Do’s” of Meetings and the other is “The Don’ts” of Meetings!
Use these two lists to keep your meetings on track and please keep this in mind; you want your people attending the meeting looking forward to what will be covered and discussed.
In fact, your weekly sales or team meeting should be a motivational highlight of the week that aligns and focuses your team as opposed to the lowlight of the week that disconnects, shames and diminishes your team’s enthusiasm.
So let’s get into it…
List One: “The Don’ts” Top 21 Sales Meeting Turn Offs
Lack of leadership/direction
Talking for the sake of talking
Other’s suggestions shot down
Not starting on time
Too many meetings
Irrelevant topics discussed
Too many admin issues
Negative issues involving a few
Focus on star performers only
Getting off track
Commitments without follow up
Participants leaving early
Little or nothing discussed of value
List Two: “The Do’s”: Top 21 Sales Meeting Turn On’s
Start with some music to create energy
Start with a game or funny video
Zapping – acknowledging
Clear agenda & timeline
Progress & results
Read a client testimonial
What’s working for you?
Everyone feeling heard
Change of venues occasionally
High take-home value
End on a high
I hope these two lists have provided a quick motivation for you to run a super effective sales meeting this week. If you feel you and your team need a ‘change up’ of meeting flow and energy, try working through “The Do’s” and see what fits well with your team…you may just be surprised at how these small changes can have a lasting effect for yourself and your team – for the rest of day and the week!
Yours in real estate,
PS: If timing is an issue for your team and you have team members consistently turning up late for sales meetings, use the below sporting analogy…
“If a sporting team’s game starts at 9am, the team would always arrive BEFORE 9am. So when our meetings start at 9am, that’s game time. If you need time to prepare, be early!”
Every successful real estate agent is a successful negotiator!
Many agents go about negotiation the wrong way, sometimes by being overly pushy, in it for the wrong reasons or even backing clients into a corner.
Trust me, this is the wrong approach to a negotiation strategy!
At TurningPoint, I go through 7 Fundamentals of Winning Negotiation and I want to briefly share these with you today.
These fundamentals can set you in the direction of being the best negotiator in your agency and area – whether you are well established or just starting out in the biz.
Let’s get started…
1. Your Personal Values
Integrity and honesty rate high on clients’ wish lists when selecting an agent, so you’ve got to walk the walk if you’re going to talk the talk!
You’ll get caught out fast if you don’t.
By clearly defining your values, it is easy to make on-the-spot decisions when talking with sellers and buyers. Have lines you will never cross and make it clear to your clients these are the ethics you stick to.
The key isn’t to simply promise these qualities as a way of winning business, but to demonstrate with each client, whether they are buyers or sellers, this is what you will deliver.
2. Believe in What You Do
There’s no point sticking with the real estate game if you’re not a passionate player.
When you believe in what you say and do, people come to understand you’re true to your word.
This is no time for a lack of self-confidence in negotiation!
Do I believe in my own abilities?
Do I believe I act with integrity and honesty?
Do I believe I do my best with every client?
If you do not have this faith and belief in yourself, what’s holding you back? Try to tap into a positive and self-assured mindset – your customers will pick up on this as a measure of your credibility.
3. Superior Knowledge Base
Knowledge is power, and never more so than in negotiation.
Being informed is like wearing a coat of armour and being equipped with a bow and arrow – you can deflect every rebuttal and fire back with indisputable facts.
Take the time to hone your knowledge base of the current market and the true value of a property. This will make a massive difference to your confidence when you negotiate as you will always be equipped to have the last word.
4. You Don’t Sell Property
This statement might surprise you, but hear me out!
So, you’re not selling a property, you’re helping someone to buy a property.
What you are selling is a lifestyle, a dream and the opportunity to take the next step on the real estate ladder and along the road to financial security.
People don’t care unless they know how much you care.
Connect with your clients on a personal level and get to know them before showing them how much better their life will be with your help.
5. The Law of Reciprocity
Give and you shall receive!
Another secret to being a good negotiator is to do it with a smile on your face. If you project positive energy as part of your negotiation strategy then there’s a far greater chance you’ll get a positive response and a positive outcome. Sell the benefits of the purchase and be the buyer’s friend.
6. WIIFM – People Buy Value
WIIFM is the radio station every single person on the planet is tuned into. It stands for ‘What’s In It For Me?’
Whenever you speak with a buyer or seller, tune into their station and talk in their language, not yours.
Highlight the benefits of a quick sale to your client and remind the client they’re making a long term investment, not only financially but in their own happiness.
7. Make Me Feel Important
The truth is every human being you meet wants to feel important.
Address this need! You will have to do it slightly differently with each client; which is why it’s worth taking some time to get to know them from the start.
By making people feel important, they’ll be more inclined to make decisions in your favour.
You may have noticed being a good negotiator relies on psychology and an understanding of what makes people tick.
It also requires the drive to make people happy – something the most successful real estate agents I’ve come across always say is the very best part of their job.
By being a good negotiator you are making dreams come true – yours as well as theirs!
Real Estate Results upcoming TurningPoint workshop is for agents and sales managers who are serious about developing the skills allowing them to rise to the top of their game. Visit TurningPoint to find out more.
As a real estate agent, one skill you’re consistently honing is your power of influencing. Influencing is incredibly important in order to win more business and sell more real estate, however when it’s time for the ‘hard conversations’ it’s your negotiation abilities that will get you across the line.
In this article, I will share with you 6 tips to succeeding at negotiation which you can start using in your next negotiation.
Negotiation is a game based on psychology. You must know your client’s motivations – what matters to them, what motivates and inspires them (all the details about their property goals) in order to help your clients arrive at a positive outcome.
You’re successful when your clients are successful. Negotiation for a real estate agent is a win: win situation
When you’re starting out as an agent, it’s easy to rely on the “wrong” methods to get the sale price you and your vendor want. Bullying or goading your clients into a decision does not a good negotiator make – and it goes against the long-term strategies I work through at TurningPoint – strategies like How to create clients for life, How to generate repeat business and How to enjoy amazing referral work to name a few.
So, what are the “right” methods you need to succeed in negotiation?
Let me share with you what I have discovered over 20+ years as a High-Performance Real Estate Coach working with agents, teams and leaders on successful negotiation steps:
Why does your seller want to sell?
What has made your buyer decide to buy?
Is it for work, family or financial reasons?
Are they upsizing, downsizing or making a big lifestyle change?
Understanding the motivation of your seller as well as your buyer is the strongest influencer you can have. By asking questions to uncover their motives, you’ll be giving yourself great big clues on what is going to help them commit and put you to work!
2. Property Fit
Every buyer has different needs. Understanding these needs will empower you to guide them towards the right property that suits their needs the best.
Think about this: if a property doesn’t fit a buyer’s requirements, should you really be selling it to them?
The answer is no – they’ll hardly be singing your praises when they realise they have made a bad decision.
When you’re in the midst of a negotiation, you should be able to seamlessly and honestly present all the reasons why the property suits your buyer and how it works into their property goals.
The seller wants to achieve the highest price possible.
The buyer wants to pay as little as possible.
You, as agent and negotiator step in to find the sweet spot between the two; where both parties walk away feeling as though they have ‘won’.
Knowledge and education are key when it comes to settling on a price.
Why should the buyer pay an extra $10,000? How will it benefit them in the long-term?
Why should the seller settle for $10,000 less than the amount they had in mind?
You need to be informed with solid facts about their mortgage payments, forecasts for future price changes and every possible reason for flexibility at both ends.
Special tip: It’s this part of the conversation that some agents struggle with. My advice is to practice, practice, practice your dialogues. Set aside time with your team each week to practice your dialogues so you are not practicing on clients. RER Network Members: Use your role play cards and RER Network football.
It’s not always all about money!
A longer or a shorter settlement, garden equipment being left with the property, appliances, furniture…
Assume everything is negotiable and you give yourself and your customers a much larger platform to stand on.
Be flexible, be creative and be open to suggestions – anything is possible!
5. Scarcity and Urgency
Scarcity and urgency are two of the strongest internal ‘psychological triggers’ and when used in the right way, are powerful weapons in a negotiation.
This is why the auction process is so successful in creating sales records – it brings out the competitive natures of even the most placid buyers!
Find the reasons why the buyer should feel a sense of urgency; be it interest rates skimming the ground, no new apartments are being approved in the area due to new council legislation or simply because property is scarce. The key here: know your local area, its market and know it well!
You don’t need to intimidate your clients with false scarcity and urgency or push them into a decision – your goal here is to help them understand why NOW is the time and THIS is the property.
6. Perspectives = Stepping Into Their Shoes
In the case of negotiating real estate, it’s your job to clearly think about what the negotiation looks like from both the buyer and the seller’s point of view.
By stepping into their shoes you will understand where your clients are coming from and gain perspective on what they are thinking and feeling.
Knowing their personal goals provides insights into the roadblocks they are putting up in front of you and will help you break them down.
Think about these tips before your next negotiation, practice your dialogues, be the most equipped agent in your area with local market knowledge and watch your results improve.
Learn more about increasing your influencing ability and your negotiation power (even if you’re just starting out as an agent) so you can win more business, sell more real estate and make more money, by joining me at TurningPoint in May. For more information and to take advantage of the early bird ticket rate, click here.
Standing out in a crowded market and becoming the agent of choice in your area requires a lot more than having excellent negotiation skills and getting good results on auction day.
There’s a whole swag of other tools you can utilise, the most impressive of which is Video.
I’m sure you’ve heard about how video the ‘next big thing’ in real estate.
It’s safe to say, video is not the next big thing – it is THE thing!
According to an Australian Retailer, real estate listings that include a video receive 403% more inquiries than those without and Forrester researcher Dr. James McQuivey estimates that one minute of video is equal to 1.8 million words. (Source: Insivia)
You can start using video as part of your strategy to become the best real estate professional you can be – even if you’ve never used video before.
In fact, if you’re a video novice, now is the best time to get started.
Why? Video helps you to:
Increase the likelihood of potential clients seeing your listings (as you can post video on a number of platforms and increase your reach).
Add value, information and education for your clients (to help you stand out as an authority figure in your area).
Create connections in your local area with your local market (video allows you to build trust and consistency in your message).
Showcase you, your agency and your properties in a way that images and text cannot compete with.
Most importantly: Video inspires action!
So, where to start?
With one or all of the following – preferably all, because we’re aiming high here!
Market Wrap Video
Property is a hot topic, no matter where you go.
Everyone wants to feel like they have the latest insider info on what’s going on in their market.
This is important stuff for potential clients who are teetering on the brink of buying or selling.
A succinct but information-packed market wrap will influence people to take their next step on the property ladder.
Be honest in your video, share the facts and finish up with a strong call to action reminding your clients they will be missing out if they don’t ACT NOW.
According to research from Australian based video and tech company Unruly, enjoyment of video advertising increases purchase intent by 97% and brand association by 139%. Why? Because video triggers strong emotional responses.
Pictures of a property are well and good however, a well-produced video creates an emotional connection.
In your Listing Video make sure to:
Show the address of the property
Showcase the home itself in a beautiful, clean way
Show the grounds, the gardens, the yard, the front of home
Make special note of all the interesting or unique things about the home
Play some interesting and calm music
Let the video tell a visual story
Include movement/people/pets in the video
Include your contact details and a clear call to action
Another idea is to record yourself or the current owner simply chatting about why they love the property and you’ll make the idea of owning it much more real to the people sitting at home browsing the internet.
Your potential buyers will start to see themselves in the home, making dinner, having friends over for a BBQ, and they’ll be picking up the phone to speak to you in no time.
Test some of your listing videos. Experiment with you as the agent introducing the property and talking about it’s features in greater detail.
A good reputation can is the result of the great relationships you’ve built, and a profile video is an excellent way of reinforcing your reputation.
Introduce yourself, share what you love about living in your community and gather some testimonials from your best clients.
When you do this, you’re creating a celebrity effect. People see you on screen and they feel like perhaps they could be your friend. By the time you finally get to shake hands, the initial introductions have already been made.
90% of information transmitted to the brain is visual, and visuals are processed 60,000X faster in the brain than text. Creating and sharing your agent profile video makes you as instantly recognisable as George Clooney or Sandra Bullock 😉
Agency Profile videos are important, especially if your agency is not one of the better known brands in your area.
Like a profile video, it introduces you to clients before you meet, and here’s one people overlook all the time, Google owns YouTube, so Google loves video.
According to Forrester Research it is 50x easier to achieve a page 1 ranking on Google with a video. Wouldn’t it be nice to have your agency website at the top of the page when someone searches for ‘real estate [your area]’?
Video is one of your best weapons in the fight for great search engine rankings.
Your Agency Profile Video is an excellent way to introduce your team, what’s different or unique about your team and brand, what you love about your area, your values and your vibe. Potential buyers connect through emotion and your profile video allows you to start that relationship.