Vancouver Wa Real Estate - Elite Realty NW

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Tip #7 - Burn Out Prevention - 365 Tips To Becoming A Successful Realtor®

vancouver wa real estate

365 Tips To Becoming A Successful Realtor®

Tip #7 - Burn Out Prevention

Congratulations! You made it to the end of the first week.  Don't get too full of yourself, I haven't even given you the really hard stuff yet!

Even God gave us a day off...

Don't fall into the trap of working every day of the week and never scheduling a day off. No one was ever found on their death bed mumbling  "I wish I had worked more!"  Schedule time off and use it wisely.

Relaxing, spending time with family or friends, and recharging your batteries is just as important as working! Take care of yourself and set business aside once in a while. Is one day a week too much to ask? (That is not me asking. That is your body, mind, and soul asking!)

Steven Covey, author of 7 Habits of Highly Successful People calls it "Sharpening the Saw." His premise is that a sharp saw cuts much faster and with less effort than a dull one and it is in your best interest to sharpen your mental saw every once in a while. You can't drive unless you occasionally stop to fill up the gas tank. Get it?

Take the day off. Go have fun. That's an order!

Photo by Mathew Ingram

365 Tips To Becoming A Successful Realtor® - A Week in Review - Week 1

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365 Tips To Becoming A Successful Realtor®

A Week in Review - Week 1

Tip #1 - Choose to become a Realtor® - The first step to finding success as a Realtor® is committing to doing what it takes to be great.

Tip #2 - Working with buyers - Finding The Right Home On The First Day - By listening closely to your clients needs, you can consistently write offers on the first day of touring homes.

Tip #3 - Negotiations. There Are Things That Are More Important Than Money - Simple tips for writing the winning offer for your clients. Money isn't always seller's goal.

Tip #4 - What Is Your Edge Over The Other Realtors® In The Area? - Setting yourself apart from the other agents in the area is crucial to winning listings and building your business.

Tip #5 - Networking Your Way To Success - Ideas on places to go to network and build your business face to face.

Tip #6 - Do Scripts Really Work? - Don't be afraid. Scripts are a power business building tool!

For the over achievers in the group, you can go straight to all of the 365 Tips To Becoming A Successful Realtor® blogs to date by following this link:

365 Tips To Becoming A Successful Realtor®

Tip #6 - Do Scripts Really Work? - 365 Tips To Becoming A Successful Realtor®

365 Tips To Becoming A Successful Realtor®vancouver washington real estate

Tip #6 - Do Scripts Really Work?

Often times agents shy away from scripts because they feel that they are too canned or insincere. They think that just because you memorized the best way to answer a tough question, then it must be dishonest or manipulative.

That rational doesn't make much sense to me. We have been memorizing things since we were born. Does studying for an 8th grade history test make it dishonest? Is a doctor being dishonest when he recites your diagnosis based on your symptoms? Of course not. Scripts are just a way to answer questions in a clear and concise manner. Smooth and confident answers to your clients questions and concerns will put them at ease and help to build trust.

Your scripts should be simple, honest and direct. These are the easier to remember and deliver. The more that you practice them the easier they become3. In a short time they won't even feel like scripts. They will just be the honest answer to a certain question that people ask alot.

We will be addressing this topic at least 51 more times in the next year. I intend to address questions that agents tend to have the most trouble answering. The goal of this script is to earn the listing by getting an appointment.

Caller on the other end of the line - How much is my house worth?

Top Producing Real Estate Agent -  I don't know. I haven't seen your house yet. No one can tell you the value without actually seeing the house. When would you like me to come over to take a look? Is to day at 3:00 OK or would you prefer tomorrow at 4:40?

Simple, honest, and to the point.

Tip #5 - Networking Your Way To Success - 365 Tips To Becoming A Successful Realtor®

365 Tips To Becoming A Successful Realtor®

Tip #5 - Networking Your Way To Success.
vancouver wa real estate
Networking is a very effective method of building your business. While not a new concept, Dale Carnegie has been preaching the power of networking since his 1936 best seller How to Win Friends and Influence People, there are many new twists and tools that have been developed recently.

Face to Face is always best.

Get out there and meet people! Although social media has recently taken center stage as the latest craze in networking, face to face networking is always the best. Find a place where people get together and go get together with them. Here are a few ideas that have worked very well for me:

Vancouver Washington Green Drinks - This is an excellent group that meets once a month to discuss green and sustainable living. Look for a chapter in your area.

Realtor groups in the next county over - This has worked very well for us! It is a great way to meet agents who will have referrals to send your direction. Stay in touch and trade referrals.

Any local club where people get together for long periods of time - Biking, sailing, scrap booking, and card clubs come immediately to mind. These types of events get people together for several hours at a time. It is a good way to build a relationship with the others in the group.

Can't find anything? Try meetup.com. They have something for everyone.

Still drawing a blank? Start your own group. We attend several groups a month where we have become good friends with the founders and have sent business their way.

Tip #4 - What Is Your Edge Over The Other Realtors® In The Area? - 365 Tips To Becoming A Successful Realtor®

vancouver wa real estate

365 Tips To Becoming A Successful Realtor®

Tip #4 - What Is Your Edge Over The Other Realtors® In The Area?

Are you a stand out agent or do you just run with the pack? Running with the pack can be one of the biggest mistakes that a Realtor® can make. Why should a seller hire you if you just do the same things that all of the other agents do to sell the home? They might as well just hire the one with the lowest commission.

What sets you apart from the others?

If your answer doesn't come immediately to mind, then FIGURE IT OUT! Seller need to know why they should choose you to sell their home. Figure out what makes you the best and talk about it. Don't be shy. Be bold!

Are you in the top 5% of real estate agents in the county? Tell them about it.

Do you have the #1 most read real estate blog in you city or county? Tell them about it!

Do you take up 4 of the first 10 Google results for your keywords? Tell them about it!

Tell them why you are the best and ask for the listing. You aren't bragging. You are interviewing for the job. Tell them exactly why they should choose you to sell their home and ask for the job.

A VERY Expensive Closet! Vancouver Washington Real Estate

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A VERY Expensive Closet! Vancouver Washington Real Estate

We just closed a deal today on a Vancouver Wa home that almost didn't make it. Tough negotiations almost killed the deal. Then there was the inspection.

We had a buyer in less than 11 days who was ready to make a deal. The inspection was performed and we were back to negotiations. After 2 days of bargaining we were headed for closing. Everything was progressing to plan when we hit a snag. The appraisal came back low!

How could that be? Our pending price was lower than any other comp in this Vancouver Wa. neighborhood!

Oh wait... what's this? The appraiser showed the home being 80 sq. feet smaller than the tax records. After calling the bank and requesting a re-measure, the appraiser admitted to his mistake and corrected the appraised value.

The mistake was about the size of a walk-in closet but changed the value by over $8000. That would have been enough to blow up the deal. That was a very expensive closet!

Photo by PPDIGITAL

Tip #3 - Negotiations. There Are Things That Are More Important Than Money - 365 Tips To Becoming A Successful Realtor®

Vancouver Wa Real Estate

365 Tips To Becoming A Successful Realtor®

Tip #3 - Negotiations. There Are Things That Are More Important Than Money

Sometimes real estate agents fall into the trap of believing that money is the only important thing to their clients. That surely would make things much simpler but it simply isn't the case.

When writing an offer, it is valuable to try to understand what is important to the seller. Do they need to move quickly? Do they want an "As is" deal? Are they hoping to sell now but live in the home for a few extra weeks?  Knowing their motivation will help you to craft the offer that is most likely to be the one that is accepted. Writing an offer that creates a Win-Win situations is often the one that will be accepted and will be the best for your client.

How Do You Find Out What The Other Side Wants?

Ask! When one side has special needs in a transaction, the other agent will generally be very free with the information. Structure some questions for that agent and pick up the phone to find out what it will take to close a deal. Here are the top three pieces of information that I want to know before I ever write an offer:

1. How quickly would your clients like to close?

2. Do you think there will be anything in the inspection that my clients might be concerned about?

3. Is there anything else that I need to know about this deal?

The answers to these questions will quickly get me to place where I can write a strong offer that will meet everyone's needs.

Top 10 Things People Fear Most....And The Follow-Up Call

My friend Clint, an agent in Missoula Montana, wrote this exceptional post about the fear of making follow up calls to potential clients. I think he sums it up perfectly when he says that "failure to make follow-up calls based on fear may not kill you...but, it will kill your career." 

So, pick up the phone and get to work!

Via Clint Miller (Real Estate Client Referrals, LLC (RECR)):

Top 10 things people fear the most......

10. Dogs -- I have to admit, I am not afraid of dogs. I am not even afraid of the dogs I probably SHOULD be afraid of...

9. Loneliness -- Again...this is one that I do not have to deal with...I am ok with it. But, I know many people that do have to deal with this daily.

8. Flying -- I love to fly. My wife would rather rip her fingernails out with pliers than board a plane.

7. Death -- Pretty deep subject...I would say I fear the death of those I love more than my own mostly because I don't want to deal with it or think of my world without them.

6. Sickness -- There is a difference between being sick...and being SICK. I can handle a cold or the flu. I have lost people close to me to disease...I don't even want to get SICK.

5. Water -- I don't have a fear of water, but I hate having water splashed in my face...even in a pool.

4. Financial problems -- I have had lots of money. I have had no money at all. I have survived both.

3. Insects -- Yet another fear that I do not have to deal with...but, my sister would rip down a cinder block wall to get away from a spider. Her fear is so deep, she will actually go into shock.

2. Heights -- Ok. Gut check time... I am afraid of heights. It's not the height that bothers me, really. It is the thought of falling that far and hitting the cold, hard ground and breaking bones that scares me. Being up on a wobbly 20 foot ladder?? Oh hell no...

1. Public speaking -- I admit, I have a bit of this...but, I'm getting better. I know people that pass out having to give speeches. I have seen people get sudden attacks of laryngitis, nausea, even require oxygen and medical treatment.

So, what does all this have to do with follow-up phone calls?? 

Fear. 

I think that a generous portion of why people do not do follow-up calls (or continue to do them beyond call number 2...) is fear.

But...the question is.... Fear of what??

Fear of the phone? ...of making a mistake? ...of being annoying? ...of pushing a potential client away? ...of possibly hearing the word 'No'?

Yes. Well, maybe not a fear of the phone per se...(that's a bit ridiculous, right?) But, the others?? Yes.

I have actually had agents tell me the reason they do not make more phone calls to follow-up with clients is they are afraid of pushing them away by being too annoying, potentially causing them to tell them they are not interested any more.

Now, considering that a generous portion of an agent's job on a day-to-day basis is lead generation, doesn't this seem counter-intuitive?

A roofer can not be afraid of heights. A surgeon can not be afraid of blood. A pilot can not be afraid to fly. And...a real estate agent can not be afraid of making follow-up calls.

"Fear is nothing more than a feeling. You feel hot. You feel cold. You feel hungry. You feel afraid. Fear can never kill you." ~~ Joel Grey as 'Chun' in Remo Williams: An Adventure Begins

Although this situation probably isn't as extreme as that Chun was referring to above, the systematic failure to make follow-up calls based on fear may not kill you...but, it will kill your career. 

To overcome this fear...remember one thing: These prospects contacted you asking for information. It is your job to get it to them. And, until you do that, you have not done your job to the best of your ability. In other words, until you get that prospect on the phone with you, you have to continue to call because you have not done your job yet.

When a hurdler sits at the starting line, they focus on the finish line, not on the hurdles. When asked why they do this, they state that if you focus on the hurdles, you will hit them.

Dont focus on the hurdles...focus on the goal. The calls are your hurdles. But, getting your client the information they require is the goal.

 

Real Estate Client Referrals can help you learn more and earn more. If you have questions, call Clint at 800-977-7058. Or, fan us on Facebook. Or, if you are on Twitter, follow Clint.

Tip #2 - Working with buyers - Finding The Right Home On The First Day - 365 Tips To Becoming A Successful Realtor®

vancouver wa real estate

365 Tips To Becoming A Successful Realtor®

Tip #2 - Working with buyers - Finding The Right Home On The First Day


There are dozens of tips to getting this done, which I will share in the next 363 days. For now we will talk about Listening.

Listening - Parts 1, 2, AND 3!

1. An interview with new buyers in a controlled environment is crucial to success. Successful agents maximize their time by requesting that all buyers meet them in their office before touring homes. This is important for many reasons (One being safety.) and it allows them to have an uninterrupted interview with them. This gives the agent to opportunity to ask structured questions and carefully listen to what the buyer's needs and wants are.

2. Dig deep and LISTEN some more! Ask open and probing questions. Why do you need a big yard? How big is BIG to you? Why is it important for you to live in this neighborhood? The better you are at listening during this process, the better you will be able to get them to the best house for them on that first day.

3. Don't stop listening! Buyers will give you clues when they walk into the homes that you are visiting. Listen carefully for these clues to help them make their final decision. Comments like I love these high ceilings!, The kitchen is perfect! or The yard here is wonderful are good indicators that you are on the right track. Don't be dejected when they find problems. They are often searching for solutions to the problems that will let them move forward with making an offer.

By listening during the initial interview, asking probing questions, and then carefully listening to the clients comments during the tours of the homes, you will be well on your way to finding the right on for them. By the way, if you don't think this can be mastered, there is a buyer's agent in my office who has closed every buyer she has been with for the last 11 months in 7 showings or less!  

You Are Pre Approved for $350,000. Why are you wanting to see $500k listings? Vancouver Wa Real Estate

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You Are Pre Approved for $350,000. Why are you wanting to see $500k listings? Vancouver Wa Real Estate

How many of you have been through this:

You are excited. You just got off the phone with your lender and he is emailing you a pre approval letter that says that he will finance your new Vancouver Washington home for a purchase of up to $350,000.

How awesome is that? The media is saying that this is a great time to buy. Rates are low. The inventory is high. This is a strong buyer's market. Right?

You jump on the internet and type in http://www.elite-mls.com/ to start your search for Vancouver Washington homes for sale. Let's see... this buyer's market should give you some leverage. How much?

The problem is that there is no way of knowing. There are some great deals in the Vancouver Washington real estate market right now but most of them are super deals at their listed price. Yes. You heard me correctly. I will repeat, THE BEST DEALS ARE THE ONES THAT ARE ALREADY PRICED RIGHT.

Why look at overpriced homes with unrealistic sellers when many sellers have good agents who have helped them to price their homes to sell quickly? There is nothing worse than negotiating with a seller who refuses to listen to their agent when it comes to pricing. If they didn't listen to their agent when they listed it, why are they going to accept a low (realistic) offer from you? (the enemy?)

When looking for you new home, find an agent who you can trust and let them get you on the deals. They should be experienced with combing through to overpriced junk so let them do their work. It is a great market and there is no need to make crazy offers on overpriced homes.