The initial training was so successful Watson Realty will be offering agents a chance to attend a second training scheduled for January 12, 2012.

Ongoing training is essential for real estate agents who take their career seriously and seek to to increase their bottom line.

The simple answer is that buyers can be found everywhere.

Potential home buyers can be found all along your daily schedule. The clerk at the local convenience gasoline store could be a buyer or know of a potential home buyer. The person busy making you your morning bagel may be thinking of buying a home. The teller at your local bank taking your deposit or cashing your check may have thought about purchasing a house. How about the waiter or waitress at lunch? It is possible that they are now ready to buy. As you pull back into your drive way at the end of the work day, the neighbor you wave to as you enter your home might have a name of a relative looking to purchase a home.

Home buyers are scattered all through your busy day. The question you should be asking yourself instead of where can I find buyers, is do the buyers I encounter daily know I can sell them a home?

Did you hand your card to any of those potential buyers mentioned above? Did you invite them to check out you business Facebook page? Do they receive your monthly email newsletter?

My answer to new agents is that they already know hundreds of buyers; they just need to know you.

The relocation referral.

Referring a customer to a real estate agent outside of your market area is an easy way to increase your bottom line. Here are 3 tips that will help you get more outgoing referrals.

1. Ask your listings; where are you going?
2. Ask FSBO’s where they are going?
3. Call your cousin.

Part of your listing presentation needs to include detailed information about you and your company’s referral network. Being part of an international relocation network increases your value to the customer, with the potential for buyers outside of their area finding out about their house. This portion of your presentation is a perfect opportunity to ask your seller; “Where are you moving too?”

Not every FSBO will need a real estate agent to help them sell their homes but most buyers will use a real estate agent to buy their home. Why not include as part of your calls to for sale by owners, asking them where they are going? They might appreciate receiving relocation and area information from the State or area they are moving too and you will appreciate the referral check that comes with placing the referral.

I think we do a good job letting our parents and brothers and sisters know are looking for both incoming and outgoing referrals. Where we may leave stones unturned are when reaching out to our extended families. Our cousins and in-laws or outlaws that might be moving throughout the country often do so without our knowledge. Wouldn’t they appreciate you taking a personal role in making sure they have the very best agent representation?

Increase your income with relocation referral checks by making good use of the 3 tips listed above.  It is a fast and easy way to earn more money during your real estate sales career.

What can you do to not have this happen to you? Reintroduce yourself.

Reintroduce yourself to your family and friends

One of the first tasks I assign a new agent in my office, which may seem odd to them, is to mail out a handwritten card to their circle of friends and family. This is such an important step at my company that we provide cards to the new agents. This simple note is great way to say hello and to introduce your friends and family to their new real estate professional. Notice I said, “…their new real estate professional”? They already know and hopefully like you. People like dealing with people they know and trust so as long as you do your part and regularly remind them that you are a real estate agent, they will view you as theirs when they need one.

The note should be hand written. It should be short and sweet and include a business card. You might want to write a note similar to this:

Hi Uncle Jim,

If you have not already heard let me be the first to tell you I am now working as a full time real estate agent! The good news is I am working with a company that provides great training and education plus I can help anyone sell or buy a home anywhere in the world!

I am really excited about the future and would like it if you keep me in mind should you hear of anyone wanting to buy or sell a house.

I’ll call you in a few days to say hi.

All the best,

Mary NewAgent

It can be that simple. This note is going to people who already know you so there is really no need to cram many details into that first “professional “contact. You can share all of the exciting things you are learning about the services you provide in the follow up phone call and subsequent letters and emails.

Reintroducing yourself to your family and friends and maintaining contact with them on a professional level is a must if you want them to think of you as “their real estate agent”, otherwise you may find out, well after the fact that they never knew or forgot you were a real estate salesperson.

Photo credit by saiberiac

As agents we should pay particular attention to our spending habits and why we choose the companies and services that we use daily. They can provide insight into the mind of a potential customer, because we are also potential customers and as such we think like a customer thinks.  So what is there to be learned from where we purchase our gas?

I can count on one hand the number of times I have actually walked into the gas station’s building over the past year. I am sure that inside the station there will be a smiling sales person behind the cash register offering a warm greeting, maybe even a manager watching over the comings and goings, making sure shelves are stocked. I am usually in a hurry and have no need for a huge soda pop in a cup or a pack of gum. I’ll buy the station’s gas even without the warm and fuzzy greeting or any direct selling of their product. Why?

There are 3 reasons that I can think of for buying gas at a particular station without ever going in to speak with a sales associate.

1. I have a need.
2. They are are able to handle my need.
3. Convenience.

I have a need

I have a need for gas, so a purchase is going to follow. From the customer viewpoint, the need comes first and starts the purchase process rolling. Buyers and sellers of real estate have a need as well.

• Seller needs to relocate.
• Buyer needs to stop renting and buy a home.
• Seller needs to short sell their home.
• Buyer needs to use FHA or VA financing.
• Seller needs to purchase another home after selling theirs.
• Buyer needs to purchase a home in a specific area.

They are able to handle my need

I know that the gas station can fill my need. How do I know? I can see that they have gas pumps. I see other people buying gas ahead of me. They have a big sign advertising that they are a gas station and have a variety of grades of gas to sell.

Do customers know that you can fill their real estate needs? Do you make sure your marketing and prospecting efforts carefully outline what you offer that fills the needs of others?

• Do you promote yourself as a relocation specialist?
• What have you done this year that clearly identifies you as an agent that can assist first time homebuyers?
• Do you make sure your market knows that you have the education and qualifications to assist sellers with the short sale process?
• Who knows that you can help a buyer obtain a FHA or VA loan?
• Buying a home while selling one is more complex; does your customer base know you to be a knowledgeable real estate professional?
• Are you the area/city/town expert?

If we are to learn from the gas station, the customer would need to know all about us even without or before meeting us.  How is that possible?

Word of mouth, marketing and prospecting that accentuates your services.

Your current and previous customers are walking billboards. Your family and friends are your radio and TV spots, reaching into hundreds if not thousands of households with a message about you. Word of mouth will let people know that you can fill their needs before they ever meet you.

Does your marketing and prospecting accentuate what the customer is really concerned about, their needs? Is your message clear, for instance, that you are a relocation specialist and do you offer examples of how that benefits them. Do they know you understand the fears and concerns with buying a home for the first time and are able to guide new home buyers successfully through the process? Remember your goal is to introduce your skills to the customer and let them know what you can do for them before getting face to face.

Convenience

I pass by several gas stations on my way to the one I most commonly use because of the convenience of using this station. I know where to find the station, they are easy to find, easy to use, and are able to provide me what I need when I need it. If not, I search for the next “known” gas station I need.

Can potential customers say the same thing about you? Do you have enough for-sale signs out in the neighborhood that make it easy for a new customer to find you? There is a phrase, “you list to last” and the reason I find this to be true is because listings result in new customers calling the phone number(s) on the for-sale signs. Are you online? Do you take advantage of social media sites leaving online directional signs to you? Can the potential buyer or seller conveniently locate you anytime of the day or night from their home or office? Do you answer the phone? This is a biggie. Are you always letting calls go to voicemail putting all of the work on the caller to either leave a message or move on to a more convenient agent? If we are to pattern ourselves after a service such as a gas station, we need to be around every corner, open for business and ready to serve the needs of our customers.

We can learn from our everyday purchases

There is a lot for us to learn from our own buying and spending habits. Analyzing why we purchase from one store or vendor over another will help us reach more of the customers we seek. Start making mental or written notes as to why you shop a certain store or read one direct mail piece over another and then incorporate what motivates you into your own real estate business.

Photo Credit by the Italian voice

In my company our agents still adhere to the dress for success belief. We believe the way we dress helps us achieve our goal of putting forth the highest professional image. We believe our dress should exceed our customer’s expectations. Our dress code ideas are not shared by many of our competitors. The dress code of real estate agents in the Florida market stretches from shorts to suits.

Does your dress matter to the customer?

MindTools.com is a site that discusses skills needed for a successful career. In the Making a Good First Impression article, the author notes that it takes but a quick glance when you meet someone for the first time for them to evaluate you. This first impression is based on several things the person notices about you, including your appearance. Will the customer have a different initial opinion of you if you meet them for the first time in dress shoes versus sandals? It would be reasonable to think so.

I believe the first meeting and subsequent meetings with a customer are similar to a job interview with follow-up interviews. Common sense tells us to dress your best when going to an interview for a job you really want. Of course how dressed up, will depend on the position you are applying for. As professional real estate salespeople we often hear that we help people with the most expensive purchase they will make in their lifetime. I don’t know about you, but that sounds like a pretty serious job and one that calls for more than a casual attitude or attire.

Business conservative dress

Fashions and styles vary across the country. For a real estate agent, dressing for success would include men wearing; dress shoes, pressed slacks, a long sleeved dress short and a nice tie. Women would want to consider; a business styled pantsuit, skirt, blouse and jacket.

Does this mean you won’t sell a house unless you are dressed business conservative? No. But if it helps you sell one more house or take one more listing, when up against the competition, wouldn’t it be worth it? We think so and that is why you will usually find us out-dressing our competitors.

Photo credit by Rennett Stowe

Your initial response to the buyer’s question is probably going to be along the lines of:

My name is Greg Staker. This is a great home you have called about, and may I ask your name.  Or your response might be; let me pull this information and send you an email or give you a call with the information, your contact information is? 

Your goal is to get the buyer’s contact information, find out what they want and then sell them what they want. More often than not you find out quickly that the person calling is not concerned about your goals.

Your goals are not the buyers

You are most likely one of several agents this buyer has called today or this week, asking about a house.  There is an old saying, why buy the cow when the milk is free, and this is played out daily in real estate offices throughout the country.  Inexperienced and less successful agents are more than happy to act as information providers without requiring any commitment from the buyer.  List prices or addresses are offered up freely to anonymous persons on the other end of the line.  In return, the potential buyer is unwilling to offer up the information you have requested and will counter you with any of the following excuses.

I just want to know the price.

I am looking for a friend.

I want to drive by the home.

Sound familiar?

When encountering those excuses, many agents offer the buyer the same service as other agents in hopes of starting a customer relationship with the buyer.  How many times have you said or heard someone say this to a buyer?

I have access to all of the listings for sale in this area; there is no need for you to call anyone else.

 It is better for you to pick an agent and let them do the leg work for you so that you don’t miss out on the latest listings? 

A few agents even give in to magical thinking; somehow, someway this buyer will just call them back.   The only thing of “value” the agent offers is their cell phone number.

I’ll provide you with my cell phone number and if you like the home or see another home you’re interested in, give me a call.

When you offer the buyer the same value as the agent before you, and the agent after you, what reason would the buyer have to commit to you? 

If they commit to you in the small things, the big things will follow.

 The buyer does not know you. There are no reasons for the buyer to feel comfortable enough to commit to anything.  Fear creates trust issues.  Buyer fears are based on their uncertainty, inexperience, bad experiences, or feelings of being rushed into a decision.  Establishing a relationship with the buyer or getting a commitment from them is best handled in small steps. 

The first step in relationship building is in letting them know right from the start that you can provide them with something of real value. Immediately after their initial inquiry about price or location you may want to respond in a manner similar to the following.

You may be happy to learn that my services as an agent are free to you.  Additionally, I am able to provide you with the information you need to purchase the best home for the best price.

You just told them you can provide them with what the 2009 National Association of REALTORS survey indicated that buyers want most from a real estate agent.  Help in finding the right home to purchase.  Initially, you’ve not asked for anything from them, which helps to ease their fears, you have also eased the fear of uncertainty as it relates to what this is going to cost them by your use of the word “free”. 

From your initial offer you will then move to the next step in helping them feel at ease.  When a buyer feels at ease, it helps them to open up to the possibility of their trust and commitment to you.  I suggest holding back from boring housing statistics which could result in you coming across to the buyer as cold and uninvolved and instead replace those stats with a story about the home or neighborhood that a friend might tell over a glass of tea. 

Let me provide you with the specific information you have requested.  By-the-way, my name is Greg Staker.  You are asking about the price of the home at 111 Pick-a-name St.?  I love that area.  I remember walking down that street on my way to school or the community park is a great place for picnic, or my granddaughter took her first ride on a swing close to the house you’re asking about.

If they are residents of your community, you might then add a follow up question, perhaps asking what school they attended or you could ask them a “do you remember when” question about the city or community. If they are new to the area, then your follow up might include an additional highlight about the area; you could tell them they will want to visit the local library or a popular downtown store.

So far, in addition to offering them something of value, you have shown them that you know the area, live in the area and can help them get to know the area.  You spoke to them about growing up in the community and a few of the good features to be found.  This helps to take you from a salesperson in their eyes and turn you into more of a neighbor/person. 

Your next step is to ask one small favor of them.

Ok, I have the information here.  I am sorry, when I introduced myself I did not ask you for your name?

At this point it is reasonable to expect the buyer feels comfortable enough to offer you their name.  Once you know who you are speaking with you can proceed with building a relationship by again offering them something of value.

By the way Mr. Buyer since we are talking about price, did you know that the median sales price of a home in this area is $$$$?  That is right, $$$$.  Half of the homes sold this year have been lower and half have been higher than $$$$!  Is it your goal to purchase a home lower than, higher than or around the median sales price? 

You are hoping to spend lower?  Great, there are 1,000 homes listed right now for sale that are lower than the median sales price.  The particular price of the home you’re inquiring about is $$$.  If you’d be willing to provide me with your email address/phone number, I’d be happy to screen the current list of homes in your price range.  I can also include size and location or other criteria you’re seeking and provide you with the addresses and prices, if that would be convenient for you?

 Earlier I discussed how every agent the buyer speaks to will offer to provide them with information on all houses for sale in their area.  But you are the only agent who will offer to provide them with more.

Not only can I provide you with a list of homes for sale in that area, I can take it one step further. 

• I can provide you a list of homes that are being sold with a home warranty for your added protection against costly repair work after you move in. 
• I can provide you a list of homes that have had new roofs or tiling or carpet or windows, etc installed within the past year. 
• I can provide you a list of homes where the seller is offering to pay a portion of your closing costs. 
• I can provide you a list of homes where the seller has indicated they are motivated to sell, perhaps resulting in a better deal for you. 
• I can provide you a list of homes complete with a comparison chart of what similar homes have sold for so that you are comfortable you are not paying too much.

You can go on and on adding to the list or including features or concessions that the buyer has indicated is important to them, thus providing even more value to a task that everyone says they can do, it is just that you can do the same task, better.

Once the buyer gives you a name and contact information, you are half way there to commitment, to allowing you to assist them with the purchase of their home.  The rest of the way will require that you continue to offer them service and care of real value that other agents do not offer.

Using the steps above will help you get a commitment that allows you to start building a customer service relationship from buyers who call you while on floor or from your advertisements.  – Remember to listen, listen, listen and be sincere with your potential customer, instead of sounding like you’re reading, well, a script. -  From there it is up to you to continue providing the buyer with reasons to trust and have confidence in you in order for you to maintain that commitment with them throughout your sales career.

Our practice is to send every customer a service evaluation survey immediately after their closing. We want to know among other things, what prompted them to contact our company and our associate and what did they think of the service they received.

Each new evaluation received offers insight on what it truly takes to succeed in this business. Without a doubt the answer can be found in providing great customer service. I am confident that providing great customer service will result in more business during your career than good marketing or prospecting.

A majority of the great comments received are the same with each returned evaluation; the agent is very professional, efficient, courteous, and friendly. Their agent was there for them and made sure the customer was provided continuous updates. They were shown the homes they wanted to see, and the process was explained to them in detail. Taking into account all of those great observations and compliments the best thing the customer does just before sending the evaluation back to us is when they circle “yes” next to a question that asks” Would you recommend the agent and our company to a friend?  Answering yes is the result of great customer service and is invaluable. Great customer service builds successful real estate careers.

You should set aside time daily to evaluate the type of customer service you provide. Perhaps your time management has room for improvement so that you never keep a customer waiting for you or your follow up skills and systems could be tweaked so customers are never left in the dark.

Our customers will tell us what we do well and what we need to improve on. They will also tell us what they want and expect from us, we just need to listen.

Any answer that contains conversation about commission is of course meant to be considered in context to your personal office policy and in no way suggesting that commissions charged are fixed by real estate agents.

1. Meet more people.  Meeting more people is the number one answer to most of the issues or problems a real estate agent may face that centers around their career or income.  If they are not making enough money, they need to meet more people.  If they do not like listing property they need to meet more buyers.  If they do not like working with buyers they need to meet more sellers.  If they are terrible closers then theoretically they would need to meet more people to increase the odds of their bad closing skills working.  Are you following how this is going?  If they come in your office and they say, “I am not sure what I should be doing today, how can I start my business, or what is the secret to success?”  Your response will be, “Meet more people!”
2. What did the buyer/seller say they want to do?  How many times have you had an agent come into your office and lay out a situation going on with a deal?  Perhaps the appraisal came in low, or the inspection report revealed a problem or the closing is going to be delayed for any number of reasons.  The agent may tell you that they have been talking about whatever it is with the listing or co-op agent, and now they wonder what you think is the best way to handle whatever “it” is.  Your first response should be “What did the buyer/seller say they want to do?”  You will be amazed at how many times the agent sitting in your office has not stopped to call the customer.  As long as what the customer wants to do is not illegal, immoral or unethical, do that.
3. Measure twice; cut once.  This is the answer you should give an agent when they are ready to send off an angry email, or make any important decision that falls within their ability to make.  Measure twice; cut once is an old carpenter’s term that means you better measure that board twice before taking a saw to it.  This way you can be confident you are making the right cut, or in the case of your agent, the right decision.
4. Put it in writing.  Here is a no brainer but one of the most forgotten by our agents.  When they are sitting in your office and you start hearing a lot of “he said, she said”.  You need to say, “Get it in writing!”  Writing means more than an email.  It means getting signatures and the information on the proper company-state approved legal form/contract/addendum to legally bind all parties to what “they said”.
5. Go talk to the other agent.  This is the answer you should give to an associate who comes in with a concern or complaint about another agent within your office.  The situation might include confusion over which agent a customer belongs to, or a referral owed or something overheard at the water cooler.  Agents are professional businesses within your business and should be professional enough to deal with each other.  Before you put on your striped shirt and whistle and start acting as a referee, tell them to go talk to the other agent and work it out.
6. Google it.  As a manager you are expected to know everything.  In most cases you probably do have the answer to an agent’s question.  You have the answer, not because you are a walking talking encyclopedia, but most likely because you have done the research in order to find it.  In order for your agents to learn and grow, they need to do the research themselves too.  What does a specific zoning code allow?  Google it.  Where can I get flood insurance? Google it.  What does egress mean?  Google it.  
7. Say no.  This is something we do not learn early enough in our careers.  The buyer wants me to write an offer a zillion dollars below asking price, what should I do?  Say no.  The seller wants me to list the home so high I need a helicopter to see the top, what should I do?  Say no.  Mr. Unethical Agent wants me to participate in something that does not feel right.  Say no.  The seller has asked me to list their home for a penny.  Say no.
8. Never give away money.  There are times when we have to make concessions but those times should be few and far between and the person or persons who got us to give up a dollar should feel like they had to pry it away from our clenched hands.  The last person to give up money to fix a leaky roof, pay for past due HOA fees, offset the cost of a delayed closing, or get the seller to sell by reducing commission is you, the agent.  When an agent asks you about giving up some of their hard earned money, revert to answer 7 and include answer 8 to never give away money.  Tell them to work all other solutions first and then report back to you.
9. Let the facts speak for themselves.  This is the advice you need to give your agents when they are sure that something needs to be sugarcoated or when you start hearing phrases like, “Well I believe the buyer/seller/other agent is dealing in good faith”. The contract answers almost everything that a buyer or seller might question.  Point the buyer or seller to those answers and then zip it.  Let the facts speak for themselves.  They do not need your additional commentary.
10. Quiet the noise.  This could also be called focusing.  Real estate sale is an easy business but is hard to be successful.  The hard part comes in because our minds will often run amok.  I need to send out direct mail. I need to build a website. I do not speak as well as the next person.  My family is not supportive.  I am sure to fail.  The real estate market is bad.  My boss hates me.  I get the bad floor time.  There is too much paperwork.  I am afraid someone will hang up on me.  No one will attend my open house.  The buyer won’t qualify.  The seller will want too much.  I can’t get bank owned property.  I don’t understand the contract.  I will embarrass myself.  All of this noise is paralyzing!  You have got to help your agents quiet the noise and learn how to focus on the task at hand or they will never succeed in this or any other business.

Meeting people

As a real estate salesperson your main job is meeting people. Until you are successful at meeting people you cannot accomplish all of the other tasks and jobs that are part of a real estate career.

Meeting people and then being introduced to more people will handle a multitude of issues you will face in this business. If you are not successful with taking listings you can offset that by increasing the number of buyers you meet and work with. If you have little success with qualifying buyers or getting buyers to write offers, you need to meet more sellers and leave the buyers to the showing agents.

If your day to day activity revolves around putting out fires, chit-chatting with fellow agents, staying on hold with the lender’s short sale department and little or no time was devoted to prospecting in order to meet new people, you will most likely never realize the success you expect.

Agents who enjoy a high level of success do so for reasons other than being accomplished at administrative or clerical work. They are successful because they enjoy being face to face with people and they know how to increase the number of people they are face to face with.

Their results show that they take the time to be involved in their neighborhood association, they are active in their community or church. You can glean from a top agent’s multiple closings that they continually monitor their prospecting efforts to ensure it is touching the right people with the right message. They are not shy about asking for a referral from past customers. They would rather delegate the paperwork instead of letting it get in the way of them meeting more people.

Meeting people is a real estate agent’s number one job. Ask yourself, “Have I got a plan in place to meet people today?” If the answer is no, rework your plan.