Professionalism Begins Online

We have all had bad days, but is that a license to blab to the world about how much you hate your job because we're just not "feeling it" that day? SPOILER ALERT; the crux of this article is that no one cares! Nonetheless, there will be teachers, CPAs, Realtors and even doctors who will spill their guts on the internet through social media. The individual may feel a little better after a purge, but his or her audience is aghast.

A couple of weeks ago, I was with about a dozen veteran real estate agents who were mortified by some of the recent posts of fellow Realtors. Things that apart from just being in bad taste, could actually get the licensee in a lot of hot water. Of course, I immediately pulled out my smartphone to see who was doing what. Oh yes, you will get reactions, but will you get business? I will confess just when I think no one is reading my feed, I may drop a quick comment about an elected official or some new government policy and inadvertently start a firestorm controversy. Right there on MY page... YIKES! Well, if you are alright with that, than that's your business decision to make.

It really is a business decision. Most people with a professional license are independent contractors. That being said, they are small business owners. To which they are THEIR OWN boss and responsible for taking measures to avoid liability. If one agent tweets out their own resentment toward a fellow Realtor, the overall process or heaven forbid, their own client, repercussions are soon to follow because literally everyone on the planet can read it. As in the case of Realtors, the NAR Code of Ethics, Article 15 reads...

"REALTORS® shall not knowingly or recklessly make false or misleading statements about other real estate professionals, their businesses, or their business practices." 

The supporting standards go on to state the professional could be made to remove the post and, essentially, apologize. In the case of clients, they could sue over a careless post as it is a breach of agency. So why would someone want to air their dirty laundry online in the first place?

Rachel Albertson, with InfoRule Social Media, a Murfreesboro based marketing firm states; "You do not have to be friends with clients on social media. In fact, I do not recommend it."  Apparently, Disney thinks that's a good idea as well. Their employees are NOT permitted to mention they work for Disney. To violate this policy could be grounds for termination. So, be mindful of how you intermingle your private life with business.

Legal issues aside, remember what your mom told you about "conversation in mixed or polite company"? Do not discuss sex, politics or religion. Mom was right! Yet, here is where a lot of people miss it. To spare you the details here, MASHABLE has compiled a list of people who were let go over social media posts. I am not suggesting we have no opinions or never share our ideas, that's not my place. Though I will offer a friendly reminder if you post something political, you stand the chance of alienating half of your audience.

Professionalism begins online. In the 21st century, the majority of consumers start looking for an insurance agent, mortgage broker, Realtor or dentist through the internet. The search is actually a funnel. The buyer asks a question of a search engine, follows the answer to an industry publication, then a geographic company and then YOU! They already have a vague idea of what a professional is suppose to be before they ever click your name. When they ask a serious question, they anticipate a serious, coherent answer. If what they find instead is an agent posing with a sock monkey, they may not take that professional as one who is serious or would be responsible with their money. In short, the agent appears UNprofessional. Don't get me wrong, I love sock monkeys as much as the next guy, but if there is no marketing tie-in or a picture of a give away at a children's hospital, no one would take me serious. They certainly would not trust me with their biggest financial investment. Time to take down the cutesy avatar.
Blaine@realtracs.com

Service at the Speed of the Human Race™

The information superhighway was never intended for people to take a leisurely stroll. The internet was created, and exists for the rapid gathering of data. Service itself is just a byproduct. Truly, when it gets to decision time, people want to SLOW DOWN a bit. But, how do you do that or even hit an "off ramp" if everything is moving so fast?  

The concept of "Service at the Speed of the Human Race™", simply means gathering all pertinent information for our clients as quick as possible, explaining it to them in a way they understand, and then allowing them some time to decide how to proceed.  No teleporters or magic wands, just good client service. In fact, this has always been the model. But unfortunately, it's a point a lot of online platforms completely miss. At some point in the decision making process we must slow down, as bad information, out of sync priorities and miscommunication can upset an otherwise smooth process. If we are the professionals in our field, those who have knowledge and prior experience, and it does fall to US to tap those brakes.  Otherwise, our client stand to make a huge mistake, especially as it applies to real estate.

It is a concept First Community Mortgage refers to as "the human mortgage approach" of doing business.  Though they have access to all the tools of an online-only bank, they realize the greatest advantage is in their people. More important, their people making face-to-face connections with clients. Mortgage seekers don't want to be forced in to the next step of the process because the site says it's prudent to do so.  Nor are they willing to be denied by an algorithm. They want to look a professional in the eye and get some advice. People want options. Yes, at a point there is the need for a little bit of hand holding. That is a service you cannot get from the internet.

I recall several years ago, a large discount department store was playing with the notion of expanding into real estate. They had kiosks set up in a few of its stores as a pilot program to see how many more magazines, cheap toys, shirts, flip-flops, and 2000 square foot homes they could sell. This was at a time when there were not as many real estate information outlets as there are now. The discount chain's concept was to provide fast and convenient data while customers were shopping otherwise. People did in fact look at home listings on the in-store computers, but when it became decision time, elected to seek the advice of a Realtor®. The project was abandoned.  

Recently, I worked with some clients to sell their home. Within the first 24 hours, we received four offers. Each was good. The clients selected potential buyer to work with and we were able to sell the property for about $10,000 MORE than we originally anticipated. All this happened without the use of such online services as Homelight, Zillow or Trulia. For the most part, the offers that came in were by word of mouth. As for the bump in price; I went "old school" and actually MEASURED the property thereby finding additional square footage that was not reflected on the tax record. Something that would not have been caught by a "Zestimate", but rather by little ol' me!   
           
In the 21st century, we want something and we want it now!  However, instant gratitude is for the most part, a fantasy. Gaining information today is no problem at all, but is it the RIGHT information? More important, is it the right information for that individual? The human mind can race at a sprint, but the heart still needs go the distance of a marathon. That is what is meant by Service at the Speed of the Human Race™.    

Blaine Little is a real estate instructor, business trainer and an agent with Reliant Realty in Murfreesboro, TN

http://speakingforeffect.com/        BlaineSpeak@gmail.com

Holiday Listings

Each year, about this time, Realtors across the country hear those same three little words “…after the Holidays”. The real estate market tends to go into an economic hibernation for a couple of months as activity slows down. Our focus shifts from seeking listings and promoting sales activities to turkey and hanging out with the family. We spend more time in the car trying to GET to the mall, than we spend in the mall itself, and those lights aren’t going to hang themselves. We plan our cross-country trips, buy gifts for our loved ones, and make sure that we are stocked up on eggnog. Mmmm, eggnog!

Years ago, I would send out a postcard to my farm area entitled “8 Reasons to List during the  The intent was not only to promote myself and the services I could provide, but also to create a shift in the mind of the seller who had already decided to put off listing until the New Year. I would also send the little card to my current listings who I knew might expire during this period. I will share a few of those ideas with you.

Holidays”.

First, the listed home is already looking pretty! No need to “tidy up” before company comes over or make the place look festive, or bake wonderful smelling cookies in the oven to make it all seem like home. It already does. The owners did you staging for you! As professional marketers, our intent is to allow the would-be buyers see themselves living there. What better family time to make them think of than the Holidays?   There’s also no need to cut the grass just before a showing appointment.

Another good consideration is the Holiday schedule itself. Many times, manufacturing plants and other businesses will completely shut down for a couple of weeks.  This means those “by confirmed appointment” sellers are now much more flexible, and easier to reach by phone. Most offices in the Middle Tennessee area have some sort of appointment system that a client could simply block out important family days and sub-Holidays like New Years Eve. Buyers are in the same boat, so there is not a need to wait until the weekend to set appointments.

In my first few years in the business, I made myself available to anyone and everyone who want to buy or sell. Without fail, I always picked up new clients at this time because everyone else had their phones turned off. Consistently, I heard stories of how people must have called a dozen agents, but no one picked up or returned their call. Well, I did, and I got new clients out of it, too. Many of them were people relocating to the area in a few weeks or months, and had this time to look for properties. I always did business!

Yes, there are a lot of points to consider during the Holiday season, but your mental default should not be that of “Nobody wants to buy or sell during the Holidays”.  By working smart and being available, you just might be able to put a nice little bow on the end of your business year.  

BlaineSpeaks@gmail.com

Too Much Clutter Can Kill Your Real Estate Deal!

Too Much Clutter Can Kill Your Real Estate Deal!  by Blaine Little 

One of the first things a good Realtor will tell his or her seller clients is to "de-clutter". This is not necessarily saying the house is a mess or dirty, but does imply it's time to put away all those personal chotchkies and souvenirs collected through the years. The intent is to allow potential buyers feel as though the home could already be theirs. But what happens when all those little nick-knacks are the focal point of the house instead of the kitchen appliances?
  
Some years ago, I had a listing appointment for a lady who was moving back to her home town. I was to meet her one afternoon, and before leaving the office, I did a quick check of everything I might need; camera, flip book presentation, forms, and of course, my "lucky" pen. On the drive over, I rehearsed in my mind, responses to the three or four common objections I might hear during a listing appointment. I also considered common issues with the house, such as pet odor or a bright decor. However, nothing quite prepared me for what I was about to see.

After ringing the doorbell, the lady greeted me warmly and invited me inside. From the front living room door, I got an eyeful! The walls were a neutral tone of light gray, the carpet was beige, and the beanie babies were, well, MANY. On the far wall she had a wooden rack full of them. There were about 20 little plush toys across each shelf and about a dozen shelves down. She had two such racks, and several "Ty toys" out on tables, so you do the math. She had hundreds of these things! Just tiny little teddy bears and other assorted critters all in every color imaginable.

Something occurred that doesn't happen to me often: I was speechless. In our short time together and on the phone, this lady was so polite and seemed like a very sweet person. So, how was I going to break it to her that she really needed to take them down? As luck would have it, when she noticed me eying the wall, she proceeded to tell me a story that seemed to be attached to each one. Where she was when she bought them or how a friend who knew she collected gave one to her or what a special one meant to her. I just saw hundreds of pieces of felt.

When buyers enter a house, they imagine what that property could like like in a few weeks. They consider lighting, mentally place their existing furniture in each room, and quickly scan for any repair items. In short, they assess how that house will suit their needs. However, if there are tiny, multi-colored items all over the place, this is a huge distraction. The human eyes can only take in and analyze so much. Even though a listed property may be clean and tidy, it just appears CLUTTERED. 

As real estate professionals, we must tread lightly here. What may seem like an obsession or just plain weird to some of us may be very important and significant to our clients. For a house to appear as a potential "home" to a buyer, it needs to be shown in its best light. That means clean and showing a lot of surface area. Showing open areas on a wall, floor, ceiling or table make the property appear lager than it is. The simple reason is only a few objects can occupy the minds of buyers before they become frustrated and simply decide to move on. This is exactly why we notoriously ask sellers to remove everything from a refrigerator's surface. For those of us who have children, that's a tough one.

I once had sellers where the husband collected about a dozen collegiate baseball caps and displayed them very proudly on shelves in the den. Though this were not hundreds of items, it was still clutter. At this point, I delivered my famous line; "You need to pack anyway, because you will be moving soon." Believe it or not, that usually works!

In the interest of full disclosure, in my home office I have a closet that is filed with magic effects and illusions I have collected over the years. Each was selected to fill a specific magic "need" aside from raising the ire of my wife. That probably seems weird to most potential buyers, but then again, my home isn't currently for sale.

http://speakingforeffect.com/
BlaineSpeak@gmail.com

This Real Estate Market is Going to the Dogs!

This Real Estate Market is Going to the Dogs! by Blaine Little

Real estate is going to the dogs, cats, hamsters, goldfish and maybe even the occasional iguana. Perhaps more than ever, American homes have included the extra family member with four legs. Yes, many consider these fury mooches as actual members of the family. They both keep us company when everyone else is gone and awake when we want to sleep. But where would we be without our little fur balls that so desperately depend on us? But therein lies the rub, we as their masters, must tend to them.

Carl Sandburg so precisely quipped "Comb a dog, wash a dog... STILL a dog". Yes, but whether that dog is unkempt and dirty, it is still the responsibility of the owner. Too many times, home sellers think the Realtor will tend to the needs of animals during a showing. They erroneously believe the Listing Agent has some sort of a system for pets. In many cases, we're doing well to have systems for people! Increasingly, brokerages are adding considerations for animals in their listing agreements or even on separate disclaimers.

Years ago, I was showing a property on the edge of town. When I called to schedule the appointment the day before, the secretary on the other end of the phone seemed to immediately recognize the address. "Be mindful of the cat" she stated. "It has never been outside of the house". What an odd thing to tell a showing agent, I thought. What an odd situation, period. I asked for confirmation of my understanding of this listing's dynamic. "The cat has never been outside, you say?" "Yes, that's correct" she replied. What kind of cat has NEVER been outside before? No worries. My experience has been that most cats run and hide under the bed of a back room, and that is what I assumed would happen the next day. 

When we arrived at the property, I was to have my expectations shattered. With a clipboard in one hand and the Realtor key card in the other, I slowly opened the door, hoping the creak of the hinges would be enough to scare fluffy away. Not this cat! She saw an opportunity, and she wasn't going to let it get away. I saw the vacuum cleaners archenemy headed straight for me with a determined look in her eyes. I went to slide my foot in the crack of the door, but to no avail. When it comes down to a nimble cat or an overweight grown man with three of four limbs occupied, the cat is going to win that agility course every time. It hopped my foot and quickly headed behind the front bushes.

Try as I might, I could not reach the purring princess which now had a taste of freedom. Undeterred, I went to the kitchen and opened a can of tuna to try to coax her out. Even my buyers got into the act! They would take turns tapping the tuna can with a fork and leaning into the thick bushes chanting "here, kitty, kitty". After about a half hour, the cat finally bolted from behind the foliage and zipped behind the house next door. At that point, I did the only thing a responsible Realtor could do... we loaded up the car and headed to the next appointment.

Later that evening, I received a phone call. To my surprise it was the Listing Agent of the first house I showed that day. He was livid. Though, as mad as he was, he assured me he was not using the choice words his seller had used with him. "The cat (that had never been outside, mind you) got out!" My mind began to think, well the worst possible scenario. Will there be crying children? Will I have to make a visit to PetSmart or the animal shelter the next day? "So uh, what happened to the cat?" I asked the other agent. "Well, the owners caught her and brought her inside. She was sitting on the front porch eating a can of tuna." Though I felt for the dilemma my fellow Realtor was in, I failed to see the problem. All's well that ends well I thought. He continued; "Now that the cat has been out, she will want to leave again, and the sellers don't want that." Good for the cat, I thought to myself!

This is just one of many stories that drive the lesson home that the owners are ultimately responsible for their own pets. In fact, they are responsible for the house itself and everything in it as well. In an attempt to secure a listing, some real estate professionals may shy away from uncomfortable conversations and simply assure the sellers that everything will be alright with the livestock. What we really need to do is ask what safeguards the clients can provide during an appointment, and note that on the showing form. No one understands the temperament of that animal better than the homeowners. Our due diligence is in marketing the dwelling so our clients can achieve their financial and real estate goals. When it comes to babysitting pets, we must not allow sellers to put that monkey (dog or cat) on our backs.

http://speakingforeffect.com/

Well, If You ASK Me...

We Realtors® are by and large gregarious, fun-loving types of people who take pride in our work, and love to see our clients smile. We want to always place those smiles on their faces because it is instant reinforcement we are on the right track and our people love us. Oh, how FUN real estate is! But if our powers of observation lead us to a potential pitfall, or if we have to break bad news, we tend to get a little shy in our approach to speaking with our people.

If our buyers want to move on a property we suspect is already listed under market, or if our sellers wish to reduce the list price, we are all too happy to offer our opinion. Yet, timidity sometimes sets in when we discuss a purchase price, or whether to accept a counter-offer. After all, that's an administrative minefield, and we don't want to look bad if our advice backfires. However, whole deals will go south if we do not offer our advice. Our clients will become confused, frustrated and leaderless. In short, we fail when we do nothing.

Why should we ever wait for our clients to ASK us anything as it relates to the real estate process? It seems amazing when an offer comes in and the professional simply throws the paperwork on the table, and asks "So, what do you think"? That's not offering advice, that's being a currier. Our clients hire an industry expert, and deserve better. In fact, if they don't get the service they think is owed them, they will go elsewhere.

Of course, the people we represent are under no obligation to actually take our advice, but it is comforting for them to know our idea is an option. Years ago, I was showing a home in rural Rutherford County. The property was almost a century old, the floor slanted, there were cracks in the drywall, and through an attic window, it appeared to be hewn timbers between every other rafter. I actually said "PLEASE, do not buy this property!" I was fearful from a safety standpoint. I told them we could continue to look for homes elsewhere. But the dwelling reminded the lady of the old homestead growing up, and the man insisted he was handy enough to make such repairs himself. They bought the house against my objection.

Ultimately, our clients hold all the decision-making cards. Much to my relief, when  I visited them a month later, almost all the repairs had been made. So, do I feel ridiculous for voicing my concern? Absolutely not! In fact, before moving forward on the purchase, they did take time to more deeply reflect upon what it would really take to make all the repairs once they took possession. So, I did my job.

As Abraham Lincoln stated "A lawyers time and advice is his stock in trade". Whether we advise to; accept, reject, or counter; go high, go low, or go home, our clients expect a certain amount of guidance beyond where the GPS tells us to turn for the next appointment. We need not always wait for them to stare at us in stone silence before we open our mouths. They are already waiting for us.


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www.MomentumSeminars.com

A Picture Sells a Thousand Homes

The old adage, "A picture says a thousand words", is true, but what words is it saying. Just how many of those words follow the exclamation "Oh, ..."? Do we present ourselves as industry professionals, or simply scare small children? As sales professionals, we want to put our best foot forward, but what of the rest of us? Most people are hardly interested in our feet. Well, OK, there's a few of those.

Within the real estate industry, the licensee will typically put a picture of themselves on the front of their business card. When I first became a Realtor, I asked my Broker if it was some sort of State requirement, as I was not use to the practice in my previous business trades. I was told; "No, it's just something everyone does". The Broker then informed me I should go to one of the most expensive photo studios in town, as that will make a difference when I hand out my miniature billboards. I'm too cheap to follow that advice, but I did take the former. Not wanting to rock the boat, or go against the crowd, or be perceived as a free-thinker, I promptly made the decision to put my face on my first running of cards over fifteen years ago.

In fact, I used the same photo for each and every order of new cards. For years, it was my lead to meeting new and prospective clients. Eventually, the idea rooted itself in my brain as a professional business concept, not just an industry cliché. It helps people connect a name with a face, and (hopefully) shows me as someone who were friendly. However, when it got to where people would take my card, look at it, look at me, look back down at the card, look back up at me, hold the card next to my face, look at the card... Well, you get the point; it was time for me to update my photo!

I was finally going to have to let the file on my computer simply entitled "ME!", go. Letting go of "ME!" would not be easy, I would also have to come to grips with the idea of getting older. Though, I am a bit taken back by how many of my colleagues also had a hard time letting go. Sorry to say, but I too sometimes make a double-take when handed another professional's card. It's human nature to stick with what we know, especially in business. We brand ourselves, and spend a lot of money and effort promoting that brand. However, every great marketing campaign needs to move on top the next phase. It's not defeat, it's just progression. Here are a few ideas that may spark some innovation with developing that NEW look;

First, don't forget to smile! Even if you are a bit insecure about your smile (pssst... a lot of us are), you will drum up a lot more business with a "cheesy" smile than a scowl.

Use a professional. By the way, not everyone with a studio or expensive camera is a professional. Ask a colleague with a nice business card who is good to use.

What do the stars do? They use straight-on headshots. Several years ago, it was a common practice to show some sort of action oriented photo. There would be poses, such as an agent on the phone, in a meeting, or perhaps just sitting at their desk. Personally, I have never been a fan of these, as they look too contrived.  They may work better on the website than a business card. If the headshot is good enough for Hollywood, it should work for us.

You need not be a fashion plate, but that 80's "Cosby" sweater will not showcase the new you! If you really are only going to sell land and farms, you can get away with a bolo, and flannel. Otherwise, wear a jacket or tie. Hawaiian shirts; if your name is Tom Selleck, then by all means.

Finally, don't overthink it. If you try to come off looking a certain way, the way you intend may be misperceived and backfire on you. The background is less important than people wanting to get to know you. Please don't get a "glamour shot". Are you an aspiring model or a sales professional? My experience; people actually do want to see the real you. It makes you that much more approachable and likeable. It might not be a boost to the ego, but you just might sells more houses. Some times, letting go of the old "ME!" is a good thing.

http://SpeakingForEffect.com 
BlaineSpeaks@gmail.com

The "Open" Open House

People in sales are taught early on to build a big list of possible leads. After all, there is no customer or client who was not at first a prospect. So, we want to identify those people as soon as possible. Not everyone we encounter will be realistic, creditworthy, or even seriously looking for what we have to offer. Why waste their time, why waste ours? We collect names, numbers, email addresses, zodiacal signs, whatever it takes to pour all those prospects into the "funnel" so one true customer will shake out of the bottom.

For those of us in real estate, the open house is the ideal place to begin that sifting process. If there is a house for sale, what better way to get potential buyers interested in the property than to simply invite them inside. We greet them at the front porch before they even knock on the door, put the biggest smile on our faces possible, and bring them in so we can all get to know each other a little better. We shake hands to introduce ourselves, and never let go of their hand until they give us their name. Then, we attempt to find out where they currently live, and ask if they need to move in a hurry. We study their attire, and glance at their car to assess financial ability. Once we finally leave the foyer, we are sure to give them the "grand tour", so when we point to a toilet, they will know they are in the bathroom. All along, we probe for even more information on them, their family, and lifestyle. If this model fits your approach to an open house; congratulations, you're a stalker!

Stalkers love to gather information, and keep current records. However, a good stalker will reveal just enough information themselves to keep their new victim under their thumb. The really adept ones will take control of the situation, so no one can get away without being on the hook for something. Perhaps the name of a friend or family member they could stalk as well. Oh, our timeshare counterparts love this one! But, is this an effective approach, or are we just wasting our energy on someone who we teach to resent us?  

My decade-and-a-half experience in real estate, and hundreds of open houses within that time, have led me to some pointers to help create a more efficient open house experience which is a lot less energy draining than most. In the process, the sales professional will come across a lot less... creepy.

DO leave the front door open in the Spring and Summer months. After all it is an "open" house. This is more inviting, and suggests prospective buyers eventually get to leave.

DON'T be ready to ponce on them in a moments notice. In fact, let them find YOU. A sheepish "hello?" from you down the hall signals they are not going to be placed on the defensive.

DO introduce yourself as an industry professional. Hand them your business card, and let them know you are there to answer any questions they may have. If you are not the listing agent for that property, EXPLAIN to them you would work for the buyer, and could even show them several other properties.

DON'T lead them through the house. They know a bedroom when they encounter one. Once introductions are made, tell them you are available to them, and WALK AWAY. They will be perplexed, confused and befuddled that you don't want to know their blood type. They will then seek you out for details.

DO ask broad, open-ended questions "What are YOU looking for in a home", versus "What do you like about THIS home"? This will let them know you are on their side, and help create a dialogue.

DON'T hand them the open house flyer until they leave. You want them to ask you the questions about square footage, acreage, schools, etc. The intent here really is not to "control" the situation, simply to show the lookers you don't bite, and are happy to help them however you can. This also sparks conversation, which could lead to a professional relationship once trust is established. At this point, give them ALL of the public information the MLS will allow.

Some additional ideas to solicit contact information;
- Ask them to fill out a very brief survey about the house. Include a heading for all their pertinent info.
- Offer a prize drawing to be conducted at your office once a month, or for the week if you pool with other Realtors. The information they give here tends to be more accurate since they want to be notified should they win.
- Actually schedule an appointment in your office, where you will take time to better understand their buying needs.

By allowing the prospect to take the lead, you assure them that you are NOT a stalker. They will also feel positive and empowered by the process. Along the way, they should feel better about you if not our industry as a whole. No, not every prospect will convert to a client, but you will have saved yourself a lot disappointment not wondering if you could have been more in control of the situation.

Having said all this, you do need a few tricks up your sleeve for safely sake. Your Broker should know where you are, and there should be a red flag code word, should you feel compelled to call a friend, or into the office. Unfortunately, Realtor safety concerns are paramount in today's world, but that is another discussion. In the meantime, consult your Broker's office policies concerning open house safety.

http://MomentumSeminars.com

Analysis Paralysis!

I have taught Realtors and sales forces for almost a decade now. From brand-new rookies to career agents, I know one thing that will never change... change itself! Change will constantly come at us, and no matter how much we think we know, we don't. There is always the need for additional knowledge and training. Information and experience are vital to the decisions we make on a daily basis. With the knowledge we have, and the benefit of past lessons learned, we can better assess the risk involved with any endeavor that may require an investment of our time, money, or emotions. That being said, we will seldom have an unqualified answer to the question: "Should I stay, or should I go"?

Several years ago, I was training a new twenty-something agent on my sales force when I was with a local RE/Max franchise. One of the first skills I taught this group of "newbies" was how to find prospective clients. This particular agent was attentive, thoughtful, and took copious notes in my Tuesday morning sales meetings. Jeff was what most sales trainers dream of; a clean slate devoid of bad sales habits, someone who was "coachable". Indeed, he asked a lot of questions every Tuesday morning, and most every other day as well. He asked a lot of good questions, but mostly just A LOT of questions. Initially I didn't mind. After all, that was part of my job. Although, after a month or more of this, and no clients to show for it, it finally dawned on me where his head was. His lack of confidence in being able to overcome every possible objection, stopped him in his tracks.

One Tuesday morning, after the rest of the team of new agents cleared out of the training room, I said to him; "Jeff, you do realize you will never have all the answers to every challenge that may arise beforehand, don't you? In other words, you cannot possibly absorb everything from a textbook, or class in an attempt to eliminate a problem before it reveals itself to you". Jeff looked to the side, back at me, then widened his eyes. This was his moment of Zen. Though I do not consider myself his "guru", a light had clicked on for him. A switch that for many of us never gets flipped. It's the realization that in order to pursue success, we must first be willing to fail.

So many people want to keep a perfect track record. As though THAT was more important than actually doing the job itself. I have stated several times; "perfection is overrated". More on that in a later post. But, this concept of never being willing to make a mistake is sadly permeating our society. It's not just with the young people, either. Those changing career fields, also seem to have a certain aversion to failure. Granted, there's nothing wrong with wanting to do a job well. That's admirable, though it shouldn't stifle our ability to perform at all. In the words of Marcus Lemonis, "Have no fear and be willing to fail." Most challenges have more than one solution, but none of them will be completely perfect anyway.

Fortunately, it is NOT the job of a Realtor to know everything. It is the job of the Realtor, or sales professional to understand our client's goals, then find the information that will be pertinent to our clients making an informed decision. Yes, we are compensated for helping others to avoid (or at least properly assess) the risks involved. That's why we exist! We are the professionals. But, we didn't become that by never making mistakes or by just asking a bunch of questions. So stop worrying about not knowing everything, and get to work. Your clients need you!


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So, Just ASK, already!

Do not underestimate the power of asking for that which you desire. In business, it is generally expected that after the "pitch", comes the "ask". It must be in that order, too. Why would a buyer or potential client do business with someone else, without knowing all the facts first? As Realtors, we rehearse our presentation and practice eliminating objections, but we give little consideration to actually getting the ink on paper. Too often, business people sit back after we have shown all the graphs, answered all the questions, and simply STARE at the prospect. The prospect finds this really creepy, by the way. Without asking for the order, the default answer is always "No". Even worse than not actually asking for the contract, we may give the feckless "so, what do you think"?

Asking also plays a big role in charities, recreation, and civic organizations as well. Years ago, I was curious as to why there wasn't more participation in the annual Chili cook-off in my real estate office. The Managing Broker of the company told me, "Some times, people just want to be asked". That really struck me as odd. This was something we did every year in the Fall, and everyone always partook and had fun. So, it's not like people didn't know to enter the contest, especially since it was posted, mentioned in a meeting, and followed up in email. After all, if an opportunity was available, or a position open, such as "Snack Chairman" for the high school volleyball team, wouldn't people just raise their own hand, and say; "yes, I would relish the opportunity to be the Snack Chair this year". I followed her guidance, and sure enough, we were able to double the participants, and everyone enjoyed the party.


Some time later, that same real estate broker needed to fill an Office Manager position at the firm. She must have had over a dozen applicants. She selected three or four potential hires for an interview. After the process, she confided in me, her decision came down to the one interviewee who actually ASKED for the job. I was under the assumption being grilled for twenty minutes on what animal you would be if you lived in a forest, WAS asking for the job. Apparently, not. The lady stated how much she really needed the job, and actually vocalized the words; "Will you hire me?". Turned out, she was a really good fit for the office, and she never for a second indicated she took the position for granted.

Seeking a favor puts us at a disadvantaged position. When negotiating, we want to come from a position of power and strength, but in asking, we admit the ball is in the other person's court. Many times, the ball IS NOT in our own court, and coming to that realization puts a knot in our stomach. Nonetheless, formally requesting the business is where the rubber meets the road. Even being denied your request is certainly a better position to come from than; making your presentation, dodging objections and being grilled for half an hour, only to toss out "So, what do you think" in the end. My advice; swallow your pride, and just ask!

 http://speakingforeffect.com/

RESPA – More Teeth than Ever

The following is an article I wrote for the Middle TN Association of Realtors Newsletter in 2014...

As a rookie agent some fourteen years ago, all I wanted to do was get my license and start “selling homes”. At that time, the Middle Tennessee Association of Realtors would allow a new agent to postpone the orientation classes for up to one year. Yes, that’s exactly what I did! Several closings into my new career, I approached the one year mark, so begrudgingly scheduled my attendance in the NAR-required education. However, once the course was complete, I came away from the entire experience thinking “I really could have used all that information a year ago.”  Not only did I learn quite a few nifty marketing ideas to help me attract new clientele, I was also made aware of several liability issues to avoid.

Flash-forward to about eight years ago, I began teaching continuing education courses as well as the orientation at MTAR.  As a real estate trainer, I enjoy sharing concepts that will benefit my fellow Realtors, even if it’s those embarrassing stories of mistakes I made in the field. After all, why not learn about potential pitfalls in a classroom rather than actually making them yourself.

It was after one of these classes, I was approached by three or four Realtors who all had the same concern. I often have a student or two ask for some specific advice, and if the subject isn’t too “sticky”, I’m glad to help. In my 45-minute orientation class on the Real Estate and Settlement Procedures Act (RESPA) I had covered several points of how the Federal Government is opposed to, and eliminating kickbacks in the world of real estate. The agents related to me they were approached by a lender who provided marketing materials completely free of charge, even though I had just mentioned RESPA’s “fair share” rule of Section 8 as it pertained to advertising costs. From what was related to me, they were assured by the loan originator that paying the entire ad bill was entirely compliant with the law.

The whole story left me scratching my head, and wondering “has something recently changed concerning Section 8?” A good teacher wants to keep abreast of developments with one of his taught subjects. After all, it’s not like the Federal Government is going to give me a call to ask permission or even inform. So, like a good Realtor, I did my research. The law looked exactly the same as when I read it almost a decade earlier. Then, I called the RESPA hotline.  It rang, and rang, and rang. I called several times, but it appeared no one was manning the hotline at HUD. In fact, they weren’t. Not anymore.

Wanting a quick answer to give any updates at the Professional Courtesies class I was to teach the following day, I picked up the phone and called someone I knew would give me a quick, honest answer without all the legalese mumbo jumbo; the Board’s law firm of Smith & Sholar. In speaking with Brian Smith, I asked if the “fair share” concept was still in play.  He assured me Section 8 was still very much the law of the land. One new development he did mention was that of the Consumer Financial Protection Bureau, or CFPB. You probably first heard of this entity a couple of years ago as a consumer protection agency that would investigate credit card issues. In addition to that, and student loans, it also polices RESPA violations.  Smith told me this was a very serious investigating authority. Unlike HUD of prior years, who were essentially paper pushers, this new organization had teeth and wasn’t afraid of using them. He related a couple of stories where several real estate entities in the South were hit with fines in the millions.  To further put the nail in the coffin, Brian suggested if any Realtor is approached by a vendor to pay for all the marketing cost, and states that it is legal, have that lender (or title company, etc.) provide an opinion letter from their attorneys. He quickly followed that up with stating no attorney will ever furnish such a letter. 

It takes a small army to close a real estate transaction. Realtors need good partners they can depend on to not only close the deal but to look out for the best interest of the client. After all, that’s why RESPA exists. Shared marketing can be a true win-win. Not only does it cut down on a professionals overall ad bill, but it also exposes the public to several qualified experts at the same time. Whether you have someone you trust share in the cost, or go it alone, just be certain you are in compliance with the law.   

Blaine Little                                                                                                            SpeakingForEffect.com

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/ramh/res/respamor#HT

http://en.wikipedia.org/wiki/Consumer_Financial_Protection_Bureau

http://www.housingwire.com/articles/30129-cfpb-fines-real-estate-firm-over-respa-violations

Are You A Fraud?

When I first became a Realtor fifteen years ago, I was excited about the prospect of helping so many consumers realize the "American Dream". But, as I actually began to approach prospective clients, a terrible sinking feeling hit the pit of my stomach. I had begun to question everything that had brought me to that point. Was I really trying to help others achieve a lofty ideal, or was I just trying to make a quick buck? Was I good enough? What if a client knows more about the situation than I know?   Believe me, there's nothing quick about making money in real estate, but these questions often enter a new agents mind... veterans too! These are normal anxieties that most people experience at one time or another in their lives. It just means you're human.

A magician will take the stage, with the intent of dazzling his audience. He makes sure his first effect is a big hit to quickly win his audience over with his demonstration of skill. After a few minutes, even the most hardnosed skeptics stop trying to catch the performer commit an error, and simply sit back and enjoy the show. The magician is delighted to know he has the audience in the palm of his hand. However, delight eventually turns to guilt. "These people actually believe I can perform miracles" the illusionist will think to himself. "My entire show is built on lies, deception and optical illusions. I'm a fraud"! It's what magicians call the Impostor Syndrome.

The Impostor Syndrome is something often attributed to over achievers, as well as novices. An actress makes a few movies that are well received, and the performer is in high demand. She now has the means to purchase a large home with all the furnishings, as well as that fancy sports car she always wanted. Then when she considers all those other people who are without the extravagant creature comforts, she feels guilty for her success. To alleviate the negativity, she offers to work FOR a worthy charity. This is a wonderful way to channel the energy into a positive. She then receives worldwide acclaim for her good works, and again, feels guilty for receiving the notoriety. She then rationalizes in order to find peace; she needs to lash out AGAINST something... anything. This explains why we have so much social commentary from the Hollywood elite these days.

What the magician's audience doesn't see is the countless hours researching, studying, and practicing in front of a mirror to get each and every effect just right. He will also experiment with different methods, and ask for guidance from other professionals. Similarly, a brand new real estate agent devotes themselves to their craft. Consider the hundred hours of formal training one must attend in order to achieve his or her license. Respect the fact most people would not endure sitting through the classes, studying for the test, taking the test (maybe more than once) and subscribe to an code of ethics in order to call themselves; Realtor. Yet, we feel ashamed if a member of the general public states information they found on Zillow or Trulia that they say is contrary to our research and professional opinion. One should never question their own abilities when confronted by those who are not willing to put in the hard work.

The magician is not paid to perform "miracles", he's paid to ENTERTAIN, which is what he does. Similarly, an agent is not compensated for "knowing everything", but rather to research a specific situation to help the clients achieve their goals. Still, there are some things we can do to overcome a fraud complex. First, understand by being committed to your industry, you already know a lot more than you may think. Second, when someone pays you a compliment, accept it. "Thank you" is an appropriate response. Also, fresh knowledge by way of continual training and keeping up with current industry issues is a good way to kill off the "impostor" inside. When it all said and done, you are a professional with a conscience. After all, a true con artist never has an issue with integrity, or the lack thereof. So, remind yourself, you are there to help consumers realize the "American Dream".

SpeakingForEffect.com