How to Deliver Bad News to Clients

“If a man does his best, what else is there?”
~General George Patton Jr.

Have you ever been let down by a vendor?
Of course you have.
Vendor screw-ups are like death and the Detroit Lions missing the playoffs — they’re gonna happen.
One recent Sunday, my wife and I were let down by a vendor.
BUT they recovered so well that we gave them extra money.
Here’s the story.
After church a few weekends ago, we sat down for brunch at The Grand Café in Minneapolis, placed our order, and waited…
After about 15 minutes, our waiter rushed over to apologize and take responsibility.
“We’re missing our regular Sunday morning cook, so everything is behind. I’m really sorry. Here’s a piece of coffee cake on the house, while you wait.”
A few minutes later, he returned. “We’re still behind, so I’m going to take your coffees off the bill. I’m very sorry about this.!”
Our brunch eventually arrived and it was delicious.
And here’s the thing:
Because our waiter got out in front of the problem and “owned” the slow service, we really didn’t mind. In fact, I gave him a nice tip.
The lesson is this:
If you have bad news to deliver, do it quickly, with a smile, over-communicate to keep your client in the loop, and throw in a freebie to thank them for their patience.
You can own the problem, or you can be owned. Pick one.
Thanks for allowing me to rant…

“Do your damnedest in an ostentatious manner all the time.”
~General George Patton Jr.

How to Make Selling Unnecessary

“Just do what you do best.”
~Red Auerbach

 A guy named Peter Drucker said, “The aim of marketing is to make selling unnecessary.”
In that light, anything you do to solve your clients’ problems and make them happy is marketing.
Because doing so makes it more likely that your clients will either buy from you again or refer others to you. In either case – a repeat sale or referral – selling is largely unnecessary.
Case in point: My insurance agent, Geoff Elfstrum.
Last week, he solved a problem with a device I had installed on my car. He took the time and effort to call me, apologize for the problem, and get the vendor to fix it.
Good work Geoff! I’m happy about that.
But then he invested more time and expense in sending me a handwritten note of thanks for my patience… with two $10.00 restaurant gift cards enclosed.
Fantastic work, Geoff. I’m delighted about that!
As a result, I’m telling everyone I know — here in my agenda, on my blog, Twitter, Facebook, LinkedIn, and continuing on to every conversation I have in the coming weeks whenever insurance pops up.
Geoff is going to get repeat business and referrals from me. And no selling is necessary for him. Because he is such a smart marketer. He Gets It!
Food for thought, eh?
Just so I can make selling a bit more unnecessary for Geoff, you can reach him at www.ElfstrumConsulting.com
By the way, Dinner at Red Lobster was delicious. Thanks Geoff!
Thanks for allowing me to rant…

 “An acre of performance is worth a whole world of promise.”
~Red Auerbach

Real Estate from an affiliate point of view

“I believe that if you show people the problems and show them the solutions they will be moved to act.”

I thought I would pass on an article that was sent to me from Garrett Hofeld. (American Homeshield). There is absolutely no way I could have said this or written it better. Please take the time to read this. It is so appropriate and timely. I hope it will add value to your next business meeting, listing appointment or buyers consultation.

Thanks Garrett for sharing!……

Disclosure:I believe you must be passionate in order to be successful. I want to help you find your passion and realize the opportunity and potential that is inside of you!

Most real estate professionals get their initial education from a real estate school. They take a test; receive their license and then step into the industry with little more than a hope and a dream.

The challenge in this is the simple fact that while real estate courses are designed to teach you the legalities of real estate, they fail to teach you sales or marketing strategies that affect your bottom line. They also fall short when it comes to sharing how to structure and manage a successful business.

This leaves most real estate professionals at a significant disadvantage right out of the gate. Unless a decision is made to align with a brand that offers a solid training program, any newbie might tend to flounder.

So how do you gain the knowledge and skills that matter most to your business growth? Below are my four success principles that when applied will propel your success!

1. Collaborate

§ Identify your resources – If you don’t have them, develop them. Immediately.

§ Build your resources and relationships.

§ Develop your “A-Team” – Mortgage officer, inspector, home warranty representative, repairman, title agent, and insurance agent

§ Understand the process – You must have an understanding of what each person does within the purchase or sale transaction. Meet with them and ask what they contribute and how they manage that part of the process. This knowledge allows you the true ability to gauge the severity of a concern in a sale and better control the emotions in yourself, your client, and the transaction.

2. Innovate

§ Never stop learning. Implement your ideas with passion. Constantly improve your systems.

§ The only fast lane to success is through education. The more you know and comprehend about the industry; the easier it is to gain momentum.

§ Familiarize yourself with technology and the tools that will allow you to multiply your efforts.

§ Learn how to handle high stress situations and how to properly navigate conflict.

§ Consistently monitor your lead generation strategy and adjust when necessary.

§ Always be on the lookout for opportunity and know where and when to capitalize on it.

§ Prepare a business plan every year and follow it without fail.

§ Break down your growth goals into bite-sized pieces that you can consistently follow on a daily basis.

§ Systemize everything you do. Everything!

3. Generate

§ Commit to building out your business.

§ Know that you will need to commit 24 months to long days and hard nights of work, work and more work. This means it is what you did yesterday and it is what you will be doing today and tomorrow.

§ Treat every client/customer equally and with respect. It is not just about them, it is about everyone they know and will refer without fail.

§ Realize that you must always have six months worth of living expenses in your bank account at all times and treat that as your true bottom line. From there, you can start building wealth.

4. Dominate

§ Overcome the bad habits that set the tone for your business

§ Battle against excuses or they become a habit you cannot break.

§ Strive to provide value in everything you do.

§ Know that you must earn the right to close every sale.

§ Everything is a learning experience to constantly evolve and grow your skills.

§ Be consistent in your actions.

§ Don’t worry about trying to know all of the answers. Strive to be able to get the right answer by seeking council and looking to those that have the education and knowledge.

§ Create balance in everything you do.

§ Plan your day, week, month and year.

§ Do the most productive thing possible at every given moment.

§ Find the one thing that means more to you than anything and use it to push yourself farther than you have ever gone.

§ No single transaction is ever worth your reputation. Ever.

§ Never lose who you are.

§ Never let anyone else decide your emotions for you.

§ Never accept less than your best.

While this list is by no means exhaustive, it is my heart to yours sharing why passion for what you do is so important. Real estate is hard work and not for the faint of heart. Loving what you do will allow you to keep pushing forward even on the days you are ready to throw in the towel. The only thing between you and success is time! Don’t forget to enjoy each moment along the way and take the time to celebrate each and every victory.

Written by: Leighton Dees is the Chairman and CEO of Better Homes and Gardens Real Estate Generations in Mobile, AL.

Thanks for allowing me to rant…

Your most unhappy customers are your greatest source of learning.”

~ Bill Gates

ROARING BACK

We are ROARING BACK.  To those of you who hung on and made it through the last 5 – 7 years, CONGRATULATIONS! To those of you who are newer to the business Welcome! And to ALL, Welcome Back! WE ARE BACK IN A BIG WAY!!

Why do I say this? Let’s consider what is exactly happening in our local market as well as in other areas around the country: Interest rates continue to be near record lows. The fed has stated that it will keep rates low for the time being.  The Home Affordability Index is near it’s all time highest point, meaning homes are at the most affordable they have ever been since they started tracking this index as a statistical record. People are starting to understand that first and foremost a house is Home, not some speculative commodity that you sell every year or two. A home is where memories are made. A home remains the single BEST investment for the long term. Because of the write offs and tax deductions one gets through home ownership. Home Prices Have Stabilized. Building permits are up. Inventory Is at Record Lows for the 13 County Metro Area Market. Current inventory levels are under 13,000. If you factor in the fact that perhaps 4,000 of these homes are sold as short sales, our current inventory hovers between 8,000 & 9,000 units. The lowest it has been in over twenty years!

We SORELY NEED MORE LISTINGS! There are about 40% fewer REALTORS now than 10 years ago. Less competition means more opportunities for the those who are currently working diligently and professionally. Forget political parties…the economy is improving. Slowly, but nevertheless it is getting better and the American public is viewing it more and more positively. A perfect storm has developed for US, the REALTOR. Never have we had the opportunity to work both ends of the market, with less competition. It is time to get your current buyers and future clients to buy, before interest rates start their ascent back up. It is time to be assertive with your reluctant sellers. Show them how they can leverage their current house, sell it in a brief period of time and purchase their dream home. Educate them about the low inventory, which means less competition and more proceeds at the closing. Do It Now! If that seller is happy in their current home and doesn’t want to move or doesn’t have the equity to move, perhaps it’s time to talk to them about purchasing an investment property or buy the little cabin up north. Better yet, have the conversation, “if you could retire anywhere or own a 2nd home someplace else where would it be?” Help them make that connection throughout market referrals and your personal connections.

Leave NO stone unturned. It is time. It’s Your Time To Take Advantage Of The Best Opportunities for Assertive Professional Sales Associates.

For those of us who call ourselves REALTORS. It’s Your Time!

Thanks once again for allowing me to rant…

In lieu of my typical quotes, I asked some friends to share their favorites.  Here they are!

“Here’s to those who wish us well…all the rest can go to Hell.” Slainte! – an Irish quote from my friend, Claire Killen

“Nature vs. Nurture Lodge. Nature Always Wins.” – (Christopher Walken, Movie, Party Crashers) as quoted by Chad Pederson

“Sports does not build character it reveals it.” – Paul Springer

“Winning isn’t everything, it’s the only thing!”– Vince Lombardi as quoted by Rodney Helgaas

“It is a funny thing about life; if you refuse to accept anything but the best, you very often get it.” – William Somerset Maugham, as quoted be Mitchell McGuire

“if you can dodge a wrench, you can dodge a ball.”– (Movie Dodge ball) as quoted by Mike Brennan

“Nuts!” Marine General when he was told that he and his troops were surrounded, as quoted by Jack McCarty

“Persistence isn’t about knocking on one door until the dang thing opens. It’s about knocking on all doors!” – as quoted by Christina Luebke

“You cannot build a bridge while you are crossing it.”– Todd ‘Mad Dog’ Madson

“There’s a difference between interest and commitment. When you’re interested in doing something, you do it only when circumstance permit. When you’re committed to something, you accept no excuses, only results.” – Tim ‘Coffee’ Kledhans

“There’s a fine line between being a winner or a wiener.” – Pete Rizzo

“We are what we repeatedly do. Excellence then, is not an act, but a habit.”– Aristotle, as quoted by Matt Case

“It is what is, but will become what you make it.” – Mike Boyles

“Be the change you want to see in the world.” – Jean Ellingen

Thanks to all who shared their favorite quotes.

LIVE THIS DAY

“The Goal of a Business is to Create a Customer”
~Peter Drucker

  Do not merely hope to live, someday, somehow. LIVE THIS DAY.

Let go of worries and fantasies about what might or might not be. Focus the full energy of your spirit on what is real and what is now, and LIVE THIS DAY.

Put your most treasured dreams and values into action right now. Here is where you can really do what you’ve always been longing to do.

Now is when you can let yourself feel the way you truly wish to feel. See that there is nothing standing in the way of you filling the world with your own special joy.

This is the day that belongs to you. This is the time when you can do anything, and make a real difference.

A lifetime of experience has perfectly prepared you for where you are right now. LIVE THIS DAY, and fulfill the possibilities.

Thanks for allowing me to rant…

“Discipline is not a nasty word.”
~Pat Riley

Monday Morning

“I’ve got a theory that if you give 100 percent all of the time, somehow things will work out in the end.”
Or
  “Once you are labeled the best you want to stay up there, and you can’t do it by loafing around. If I don’t keep changing. I’m history.”
Or
  “Push yourself again and again. Don’t give an inch until the final buzzer sounds.”
Larry Bird

My favorite morning of the week is on Sunday. Why? Because, on Sunday morning, I’m free to choose what to do for the rest of the day. And I do only what I want to do on Sundays. The freedom to fill the empty canvas of new day is invigorating and joyful, like how a kindergartner feels with a clean sheet of paper and a box of crayons.

Good news: Monday morning can be just as enjoyable. How? Well, although you probably aren’t free to do anything you want on Monday, you are free to choose your attitude. You can be happy in any moment because you are free to choose your attitude in any moment – even Monday morning.

As Vicktor Frankl, who survived Auschwitz, wrote: “Everything can be taken from a man but one thing: the last of the human freedoms – to choose one’s attitude in any given set of circumstances, to choose one’s own way.” Remember this on Monday morning and every morning from then on!

Thanks for allowing me to rant…

“The only journey is the journey within.”
Rainer Maria Rilke

Milennials –

“You know, Willie Wonka said it best: we are the makers of dreams, the dreamers of dreams.”
~ Herb Brooks

Do you have a Strategy?

A generation that’s 90 million strong, Milennials (or Generation Y) form the largest demographic in the nation’s history – even larger than the Baby Boomers. Now that the oldest are in their early 30s, they’re preparing for home ownership.

Generation Y has yet to enter the housing market en masse. They’re slow to move out of their parents’ houses and slow to get married. Student debt and a tough job market have burdened them.

Milennial unemployment rate of 10% is two points higher than the US average rate of 7.7%.

The pent-up demand, however, is starting to surface, spurred by rents that exceed mortgage payments.

More than half the Milennials who bought homes in 2012 said the main reason they did so was to invest and build equity.

Perhaps some thought and time should be spent on how you can reach out to this group. It’s a ‘pot of gold at the end of the rainbow’.

Thanks for allowing me to rant…

“Great moments are born from great opportunities.”
~Herb Brooks 

Actions & Dreams

“The key is not the will to win…everybody has that.
It is the will to prepare to win that is important.”
~Bobby Knight

Your most treasured dreams are far too valuable to be hidden away. Instead, put them into action so that they become real and vibrant contributions to your world.

Every moment will be filled with some activity or another. So fill as many of those moments as you can today with positive action.

You’re always moving in some direction or another. So move steadily in the direction of those things you value and treasure most.

It can be all too easy to get caught up in the empty distractions that continually come your way. But do you really want to waste your time and energy on them when there is so much more you can be doing?

Pick the most positive, valuable, glorious thing you can imagine and put it into action. Let it fill your thoughts and fill your moments.

When each action, no matter what it may be, is taken as a step toward what you treasure most, the power of joy and purpose will fill your efforts. Put your dreams into action, and put your own special value into life.

Thanks for allowing me to rant…

“The will to succeed is important, but what’s more important is the will to prepare.”
~Bobby Knight

See and Sell – What Opportunities are YOU Overlooking?

“Failure is good. It’s fertilizer. Everything I’ve learned about coaching,
I’ve learned from making mistakes.”
~Rick Pitino

What Opportunities are YOU Overlooking?

Do you own a wristwatch?

If so, you’ve probably looked at it hundreds of times, right in front of your face.

Okay. Now without looking draw a picture of it.

• What color is it?
• What kind of numbers –Roman numerals or something else?
• Is there a date? If so, where is it?

My prediction: You probably had a lot of trouble drawing your wristwatch.

Why?

Because there’s a big difference between looking and seeing.

You may LOOK at your watch several times a day, but you probably don’t SEE it in any detail.

Now. Just like a wristwatch on your hand, there are opportunities in your business – right in front of your face. You may look at them every day, but do you see them?

Here are a few questions to help you SEE opportunities in your real estate practice:

Are there any prospects who dropped off the face of the earth last year who might still need what you’re selling (real estate services)? Why not review your database and see for yourself?

Can you bundle two or more products/services together and offer them at a special price? A special percentage? Why not promote this on your social media, web sites, profile pages, mailers and newsletters and see for yourself?

You get the idea.

If you’re like most of the realtors I talk to, you’re looking at a minimum of 5-10 big opportunities in your business, right now. But, just like the face of your wristwatch, you don’t really see them.

So take 30 minutes to an hour this week to carefully look at your business. You may be very happy at the selling opportunities you SEE!

Thanks for allowing me to rant…

“I just don’t deal with the negativity. I can’t get involved in that side of it. I don’t understand it, and you can’t let it take away from your life and
what you are trying to do.”
~Rick Pitino

Positive, Purposeful Path

 “No matter what business you’re in, you can’t run in place or someone will pass you by. It doesn’t matter how many games you’ve won.”
~Jim Valvano

There’s plenty of negativity that comes into your life.  And you can let it go just as quickly as it comes.

To empower yourself, you don’t have to grab hold of anything new. Let go of all the negative stuff, and you’ll find that the power has been there all along.

You can’t avoid all the negative people, situations, words and events. You can, however, choose precisely what to do with each of them within yourself.

The most effective thing to do is to focus, your energy and your efforts elsewhere. Allow your personal purpose to push you forward.

The negativity exists, and you cannot help but notice it. But you don’t have to let it be yours.

As soon as you encounter negativity, remind yourself to let it go. Rise above it, and move right ahead on your positive, purposeful path.

Thanks for allowing me to rant…

                     

“Be a dreamer. If you don’t know how to dream, you’re dead.”
~Jim Valvano