Monthly Archives: October 2017

Don’t be frightened… be diligent and strategic!!

Category:KB Consulting Solutions

There are infinite reasons that I love our industry. There are equally as many components of our business that frustrate me beyond words!  One of the most consistently disappointing elements of the industry that we are reminded of annually (with NAR’s survey results) is that our database screams to work with us repeatedly…yet we fail to follow up and reclaim the business that is ours to have….

So, let’s be clear.  REALLY, really, clear. Each year…the survey says that 82 to 84% of Buyers and Sellers would work with their REALTOR® again…not only would they work with us, they would tell friends, family and co-workers to work with us…YET, less than 20% do.  And that each year that percentage declines.

Why?  Well, it’s a logical answer.  The time between the sale/purchase of a home has increased (the average has gone from 3-4 years to 6-8 years) therefore the percentage of consumers who “remember” who we are and how to reach us has declined at an equal rate…

Don’t be frightened…be diligent and strategic.

The real estate industry is on the cusp of rapid, significant change. It will happen slowly, then instantly.  Hang on professionals, the industry we know and love will be dramatically different within the next 24 months.

What will change? Bricks and mortar, dynamics and culture will shift.

What will not?  The power of the relationship you foster with your sphere of influence.

Build, reinforce, strengthen.  Today and tomorrow with consistency, transparency, authenticity and sincerity.

You must be the confident, competent and resourceful professional who is equipped to guide and navigate them in the journey.  Yet more importantly, you must create, maintain and sustain a consistent and strategic message to remind them who you are, where you are and the exceptional service you provide.  Don’t be haphazard and pretend that you are so memorable that they will find you and employ you again and again.  Instead be steadfast in staying top of mind and keeping ahead of their next experience.  Be the professional they will readily refer their friends, family and co-workers to without hesitation.  Be their super-hero!

As we dive into Q4 and finish the year strong, find the tool, adopt the practice and lock into habits that will bring your business back to you.  Why pay for leads when your data base has already acknowledged they want you?

It is simple when you become a resource and not a sales pitch, you give people to work with the best and experience a great transaction.

Don’t be frightened by the impending changes and most importantly…. stop acting like you are frightened by your own power and success!

Be a resource not a sales pitch.

Make it Happen

Category:KB Consulting Solutions

Here we are, completing 2017 and facing a new year!  So here are the million dollar questions…

• Where are you?
• Do you have a 2017 Business Plan?
• Have you reviewed your 2017 Plan?  How frequently?
• Are you on target to hit or surpass your goal?
• What is the ROI on time, energy and financial contributions regarding your Business Plan?

We find that at this season of the year, you will fall into one of two categories:

1. You have reviewed, honored and adjusted this year’s Business Plan! Congratulations!  You are ahead of the gang and planning well above the real estate tribe.  As a result, I’m willing to bet that you are very close to, if not exceeding your annual, projected goal.  Again, my sincerest congratulations!
2. You are not even sure where your Business Plan is.  It was completed and filed.  You’ve thought about it, but haven’t looked at it since you completed it!

If this is your case, although you are in the majority in the industry…we need to chat.  Seriously.

“Thunder is good,

Thunder is impressive;

But it is the lightning that does the work!”

Mark Twain

This quote was chosen because it perfectly mirrors the conversation:

The “Thunder” in your professional journey is the Business Plan. It may be spectacular, BOLD, comprehensive, specific, dynamic, articulate, and printed on top quality paper and leather bound with your custom logo.

The “Lightning” represents the action items and steps around each specific goal outlined in your Plan.  The lightning strike is when the steps are completed and the action has been fully executed.

No matter how amazing your Business Plan looks, without action is it useless.

Let’s look at the 8 Tips to ensure lightning strikes in 2018!

1. These goals must be YOUR goals. Your numbers must support your “BIG WHY”
   Don’t get caught in someone else’s chaos and aspirations for you.  You must own this.
2. Keep it real!
   • Will local market conditions/stats/history support your goals?
   • What are local market projections and how does this factor into your plan?
   • What is occurring in the local economy that may or may not support your plan?
3. Remember a goal is stretch!
   If it’s a number that you’ve already achieved…is it really a goal?
4. What are your non-negotiables?
   • What are you willing or not willing to do to achieve and/or surpass your goals?
   • Who celebrates and benefits when you succeed?
   • Who suffers and sacrifices when you don’t hit the mark?
5. Set deadlines
   All activities must have deadlines/consequences
   Time block and live in your calendar daily to ensure you make good business decisions
6. Review your Business Plan Monthly.
   • Yes, monthly.  Think transaction to transaction.
   • You may think you are way off course when you may only be one or two transactions short.
   • Reaching your goal in production is much like weight loss.  Ignoring the scales does not make the pounds invisible.  Not looking at your Business Plan monthly does not change the results.
7. Adjust Quarterly.
   As you review monthly, watch for trends and changes in the local market and economy which may impact your results.  Plan quarterly for these as well as for seasonal changes and opportunities.
8. Celebrate!
   Take time to celebrate each success!  Reward yourself within you budget and thank all around you who have supported and facilitated your success!
   Real estate IS a storm!  There is thunder and there is lightning.  Celebrate the great days and totally embrace the rough times.  Thunder is loud and often frightening yet it’s the pre-cursor for great things to come.  So…light it up!  Strike hard, fast and often!

Be a resource, not a sales pitch.

The Covenant

Category:KB Consulting Solutions

Definition of covenant:

1.
1:  a usually formal, solemn, and binding agreement:  compact… international law, which depends upon the sanctity of covenants between rulers. — George H. Sabine

2.
2a:  a written agreement or promise usually under seal between two or more parties especially for the performance of some action the deed conveying the land contained restrictive covenants:  the common-law action to recover damages for breach of such a contract

Covenant? What does this term mean to you?  It may hold significant spiritual meaning or personal commitment of another sacred meaning.   Whatever the emotion, memory or significance it brings forth for you, it is a word to be taken seriously and respectfully.  Agreed?

As we move forward to exhaust Q4, let’s look at the powerful meaning of “covenant” and how we might incorporate and infuse it into our professional perspective to provide an extraordinary experience for those we serve.

First things first, let’s rewind to take a historical view of how many of us were trained to capture referrals from Buyer and Sellers.

If you and I share similar real estate DNA, we were told to ask for the referral at the closing table, right?   Well, just what IF…what if we turn that around?

Here’s your “Perspective Shift Challenge” …

Rather than asking for the referral at the closing table, what IF we ask at the kitchen table?  What if we ask for the referral when the listing is signed rather than closing?  Now I am aware of how technology has changed the physical dynamics of the transaction; yet may I offer an illustration of the prospective process….

After all, at the end of the transaction, i.e.; closing, let’s face it…your seller or buyer is exhausted! Most likely, they hate the moving process!  They are totally over the process of conveying property, the protocol, the players and most specifically…YOU!

So, we are challenging the norm and asking you to ask for the referral during the “honeymoon” season of your relationship rather than when the transaction closes!

Below is the recommended script/dialog for success:

The Covenant

Our Goal and Promise for Success:

When you think about selling your home, do you think the experience will be that of an event or a process?

Most people think that selling their home is an event.  Sign the listing agreement, place a sign in the yard, put the listing in MLS and sell the home.  Right?

Well, it’s not.  Selling your home is a process.  And as with all other processes…there will be good times and bad.  There will be times of ease and elegance and times of blood and guts…and perhaps a few tears.  Tears of joy and tears of relief!

My job as your REALTOR® is to make the process as effective and efficient as possible.  My role is to lead you through the process…to get the highest price, in the shortest time with the least amount of disruption and frustration possible.  How does that sound?

Great!  Now may we discuss your role?

What I need for you to do is to provide a minimum of one referral to me during the process of selling your home.  So, I (and my staff) may ask you frequently, “Who do know that I should be talking to?” …at that time, you may share with me all that you know who may be interested in buying or selling a home.  Now, in the event you can provide more than one referral…well, that will be great too!

****************************************************************************************

This is a professional Covenant.  Think about it…as per definition, a covenant has multiple participants.  Allow your Sellers to play a significant role in the “process” and there make them a vital part of the success!

We are confident this shift will generate a huge increase in your inventory.  Perhaps even doubling with no additional expenditures in time, talent or finances.  It’s just a matter of mastering your scripts and dialog.

Go!  Be a resource and not a sales pitch and double your inventory and income!

Making Time

Category:KB Consulting Solutions

Often in workshops I will ask, “Who will commit to make time to prospect?”  Without exception and hesitation ALL hands flail into the air.  How about you?  Will you commit to make time?

Well here’s the reality, no matter how anxious, willing, sincere and dedicated you are…you will not.

You cannot “make time”.  It is simply impossible.  Our Creator gave us the gift of 24 hours in each day and no one (to my knowledge) has the power or authority to “make” more.  So, stop it!  Stop setting yourself up to fail under the illusion that you will “make time” to complete the tasks and fulfill the dreams that you have.

The acceptance of this was a true life changing experience for me.  When I acknowledged, and accepted that I was powerless to make time, yet was total the BOSS of managing my time, not only did life and the game change, more significantly, the results changed.

Let’s look at the 7 Steps to Manage Your Day

1)  Find YOUR best resource for time management:

Whatever is best for you, adopt, embrace, implement.  Ranging from latest technology to the sun dial, there is no wrong resource.  If you understand, embrace and utilize and maximize the tool…it is okay. Own it.

2)  Beware of Technology:

Although many have adopted and consistently evolve to master technology based tools for time management…many have not. I once fell under the pressure of “need to get out of a paper-based day timer and into the 21^st century” for tools and failed horrifically!  What I found myself dissolving to was the “15 minute” alert kinda day in which I would cruise from task to task based on what the alert told me to do.  What a train wreck!

Soon realizing that I need the view from 32K feet each day vs. ground zero, I migrated back to an amazing paper resource that allows me to map out my time “at a glance” (quarter by quarter, month by month, week by week, day by day and yes…hour by hour!)

Do I still have an alert 15 minutes before each activity?  YES!  However, I’m efficient, effective and prepared. Often, I celebrate, because the task may have been completed in advance because I can work proactively rather than reactively by working forward!

3)  Discern what is non-negotiable:

1. Define what your big WHY is and move daily to achieve your goals
2. Discern what is non-negotiable to make things happen
3. Determine what will be sacrificed if you give in and give up

4)  Live in YOUR Calendar:

1. Put all activities, personal AND professional into your calendar
2. Honor all activities scheduled that are non-negotiables
3. Time block and stay in calendar with a long-range perspective and snapshot which allows you to work proactively vs. reactively

5)  Dollarize each activity scheduled:

We find it important to know the value of each activity that is planned.  Keep it simple!   Here’s the formula…

1. Define either the value of each commission closed (if you are an agent in production) or the total revenue on each agent hired (if you are in an ownership/leadership role) and add that into your time block when your activity is listed.  Example: “Lead gen = $4500” …because that is the potential ROI on the time you budget…
2. Include all personal activities: (family, friends, social)
   As an example, when you time block those items we recommend you not the following:
   Date Night with Spouse: Priceless
3. By the way…personal activities as referenced above should be non-negotiable!

6)  Discern who/what suffers when you deviate from your schedule:

This is simply of review of your big “WHY?” …at all times, you need to practice and exercise a check and balance of what is working and what is not and adjust.  Celebrate what is working and modify what is not working.  The biggest step in this element is to discern…who/what suffers when you negotiate your non-negotiable.

1. Spiritual
2. Family
3. Professional
4. Social

7)  Learn, Leverage and Lead!

If after consuming these first 6 steps you say, “But wait, I work better under pressure”; or “I don’t’ work perform well with a schedule.” I respectfully call bulls*_%!

Our experience shows that IF you say “THAT”, you also say “THIS”, “I’m so overwhelmed!” Well folks, overwhelmed is simply a direct result of being under-prepared.

So, STOP it! Get on board, get in your calendar and work it like the Boss that you are!

Ditch the myth of “making time” and embrace the concept of “managing time”…Trust me it is a life-changing action!

Be a resource, not a sales pitch!!!

Let’s Make 2018 Your Best Year Ever

Category:KB Consulting Solutions

So, it’s the first week of the 4^th quarter.  Where are you?  Not physically…in your business plan?  If you know, and are tracking your progress and re-adjusting your business plan to meet your goals, congratulations!!!  You are way ahead of the market and many of your peers.  If you haven’t peeked at your current business plan since you crafted it, may we consider a different perspective on the way we do business?

To have you best year ever in 2018 and surpass your goals, there is one simple, effective, sure-fire way to ensure success.  Finish 2017 strong.  Stay with me…this is simple, yet not easy….

Throughout my career in real estate, I have heard that real estate has a cycle. The myth has been that there is a cycle between Thanksgiving and the beginning of the New Year in which business slows and essentially stops.  Have you also heard that?  It. Is. A. Myth.

The only thing that “slows” and “stops” in the 4^th quarter is the agent.  Real estate is a 12-month business. People move January through December. Agreed?  Then why the does even the seasoned professional stop and feed the myth of a cycle?

The answer really doesn’t matter. The reason to me is as illogical as their business practices.  Starting today, let us commit to no longer feed the myth.  Let us commit to work through Q4 with a relentless spirit and dedication to deliver extraordinary customer service.

Now, this is important…. a strong Q4 may or may not enable you to hit your current year’s goal.  However, pushing throughQ4 with vengeance will empower you to launch into next year with an unstoppable advantage over your competitors.  Remember, January’s closings start today. And a great January leads to a successful year!!!

5 Action Items Necessary to Finish Strong

1)  Make the most of upcoming social events
During the 4^th Quarter of the year, you will have the opportunity to see and network with many individuals.  The question that is always asked are extremely predictable. Be prepared to answer each appropriately!

• Are you still in real estate?
• How’s the market?
  It is important to think through and script your responses carefully. Of course, you want to avoid sounding “salesy” yet you want to lead with intention:
• Are you still in real estate?
  “Absolutely, I’m still active in the real estate market and love it…if there is ever anyone that you know that I should be talking with, please let me know!”
• How’s the market?
  “Wow! It IS a great time to be in business. The market is great (and add some positive stats) …as good as the market is, if you know of anyone that I should be speaking with, please don’t hesitate to let me know, or have them call me.  It is the time to make a move if that’s in your game plan!” *

2)  Sow and Reap
Dig in and reach out! During Q4 is the easiest time to reach out and touch your entire sphere of influence.  Stay strong, steadfast and consistent with your mailings and phone calls.

• Direct Mail
• Geo Farming
• Center of Influence
• Sphere of Influence
• Social Media Campaign
• Pop Byes
• Community Service
• Client Appreciation Event(s)

3)  Ask the right question
Often it is challenging and almost seems in appropriate to ask for business at certain events.  We recommend that you keep things very conversational.  What if you interject into all conversations (that involve business and real estate) with the question….

“Who do you know that I should be talking to?”….this opens up your opportunities WAY beyond “Who do you know interested in buying or selling a home?”  The opens the conversation and casts a net far beyond one transaction, it opens the door to business opportunities.

4)  Never be “so busy”
In all communication and conversations, be intentional not to use the term or give the impression that you are “Too Busy” or “SOOO Busy”.  The is your opportunity to gently remind those whom you serve, what you do.  IF you give the impression that you are “Too busy” what they hear is that you might be an exhausted, overworked sales professional who needs a rest and quite frankly is too over-whelmed to provide an extraordinary and exceptional experience for them.  Be careful of the seeds you plant in the minds of others.

5)  Live in Gratitude
Q4 tis the season to reach out and thank all of those who have made your year as great!  Don’t miss the chance to sincerely thank and acknowledge each for the specific role they have played and the gifts they have contributed.

The key word here is specific.  It will not always be a referral.  It may be words of encouragement, mentoring, advice or support in your time of need.

Reach out and remember those who played a role in your success.

And always, be a resource, not a sales pitch!