Has anyone seen a home seller? Home sellers seem to be just about as rare as the Condor (unlike the red-tail hawk on my fence this morning).
Inventory of available homes for sale across the US fell another 2.5% this week, the lowest since 2019. This is the time of year when we traditionally see more homes coming on the market. Yet, according to Altos Research, there is no indication of an inventory surge coming into the market. Say what?
It is a supply-constrained market. Consumers are price sensitive to interest rates – now near 7% – and it seems sellers sitting on 3% mortgages are not motivated to trade up or out.
The result? 20% fewer homes in the pending process compared to a year ago. Only about 31% of sellers are needing to reduce their initial list price. The median price of new listings is up, yet not near the pace of increases we saw just a year ago. Rents appear to be stabilizing and slowing at the median level of $2,200 per month.
Ten excuses the top 1% all made, yet figured out a way to bust through:
1. I don’t have time
2. I don’t have the money
3. I will try it next year
4. I don’t have enough data
5. I am too tired, skeptical, or biased
6. No one ever did it before
7. It’s too much work
8. I could fail
9. I will wait until I retire
10. It’s too risky
You can bust through too. One of my associates told me all of these “excuses” are rooted in some sort of fear, so really the top 1% are masters of fear.
You cannot give someone something that you don’t already possess.
We all want others to believe in us, our ideas, and our services, yet as real estate professionals, to what degree do we believe in ourselves?
Nothing can demonstrate your confidence, commitments, and beliefs more clearly than your willingness and determination to persist despite resistance. It’s not always easy, but it is always possible.
Some of our most influential real estate coaches, like Tom Ferry, Brian Buffini, and other mentors and trainers, have exemplified and articulated the importance of persistence. You’ve likely been advised by me and others to “never give up and keep going.” Heck, even the Bible contains dozens of inspired verses encouraging us to be persistent in all areas of life.
So, why is it then that so many people fail to persist and even look down upon those who do when it pertains to sales?
Perhaps it’s because real estate sales persistence is often confused with sales pressure. In actuality, they are entirely different.
Sales pressure is communicating the same thing repeatedly regardless of the other person’s fears, worries, or concerns.
On the other hand, real estate sales persistence requires that you empathize, adjust, and move forward with a new approach, better message, and more value. After all, who better to serve and take care of them than you?
When It Matters
Persistence is not something that only applies to certain people, at certain times, under certain circumstances. The merits of being persistent apply universally.
Do you spend most of your time finding real estate deals or truly working to forge real estate deals? If the goal is to find enough people who will show up ready and do business right now, you operate in a tiny world. Expand your definition, and your possibilities expand as well.
By in large, people are naturally reluctant and not quick to act. The majority of our opportunities exist in creating interest, creating engagement, creating desire, and creating urgency.
When you are persistent, you take time out of the equation and communicate in a way that allows you to bring value, add value, and become a person of immense value.
Persistence communicates that you:
Genuinely care about them. Do you believe that people are better off when they conduct business with you? You are changing lives, whether you realize it or not. What you do matters. I believe it, do you!?
Are confident in your abilities. Do you believe in yourself? It is you and your efforts that ultimately make the difference. It’s what you say, what you ask, and how you act that determines your success.
Understand their situation and are specific in your solution. Do you believe that your real estate services improve people’s lives? While energy is essential, your certainty is far more influential than your enthusiasm. The best sales close will always be your personal feelings about your services.
That there are many reasons to move forward. Do you believe that a value goes beyond just taking a listing or showing a buyer a home? The highest level of importance is the value that you create by leveraging real insights. What is personal and unique to each buyer, seller or investor will always be what’s most compelling.
They Use Resistance to Gain Additional Insights and Add More Value
Why It Matters Persistence cannot be replaced. There is absolutely no substitute. Either you will lean in, stay with each opportunity, and figure it out – or you won’t.
Don’t sell yourself short. Just because someone didn’t agree to move forward right away at the first ask doesn’t mean you should throw in the towel and prematurely give up.
Ask yourself: What do I cost others when I don’t hang in there and get past peoples’ concerns? If it was important enough for you to start, it is important enough for you to follow through. When you are persistent, you communicate in a way that allows you to build connections and compel your customers to buy.
Persistence is needed because:
Sometimes people need to hear it another way. There are six emotional motives to do business: Profit or Gain; Fear of Missing Out; Comfort and Pleasure; Avoiding Pain; Love and Affection, and Pride or Prestige.
The right message delivered in the wrong way will not produce the result you are looking for. Without a doubt, until it feels right, it will never be right. Sometimes all it takes is reframing and repositioning your message with the correct language that hits home.
Sometimes people need more reasons to move forward. Every sale requires the buyer to sacrifice. Before moving forward, they need to feel good about what they are getting in exchange.
Sometimes all it takes is to stack on another level of value and effectively connect the dots to another reason to move forward. My friend Tom Ferry and I call this “stack the cool!” If you give someone a big enough reason to move, they will be impacted every time, but it must be their reason and not yours.
Sometimes people just really don’t know how to move forward. Whether it’s making sense of the time involved, making sense of the effort, it takes, making sense of the cost, or something else, there are times when people just don’t know how to move forward.
There are times people need accurate guidance. Showing the way is just as important as delivering the why. Sometimes all it takes is holding their hand and leading them through the next step.
Sometimes people just need more time to make sense of it all. We have all been there. We have all procrastinated or even wholly ignored an opportunity only to decide later that it all-of-a-sudden makes perfect sense. Sometimes customers just need more time to make sense of it, whether five minutes, five days, or five months. If asked at a different time, you can get a completely different response.
Persistence pays! I encourage you to adopt the six habits of highly persistent people to double down on your efforts and multiply your results.
Persistence, unlike pressure, always makes sense. You surely want others to believe in you, believe in your ideas, and believe in your offerings. Nothing can demonstrate your confidence, commitments, and beliefs more clearly than your willingness and determination to persist despite resistance. It is you and your efforts that make the difference.
It’s not always easy, but everything changes when you empathize, adjust, and move forward with a new approach, better message, and more value.
Near-death by a car accident, boot camp, Kilimanjaro Summit day, Hellmecula, Snowmageddon, Spartan Beast, crazy markets, and so much more.
Some things are just hard, and you want to quit.
I’ve made it through some tough situations with this one strategy: looking only a few steps, tasks or minutes ahead.
“Doing the next right thing.”
At certain times tunnel vision is a good thing.
Consider this – the next time getting through a challenge that seems like it might be too much for you. Lower your gaze to whatever the next minute, step, or task is right in front of you. Then take it.
There are times when big-picture thinking is needed. Yet the moments when you doubt you have the strength or the desire to put one foot in front of the other isn’t among them.
Focused Time. The top 1% know that less is more! Say what?
Who would you imagine to be more productive—someone who works 55 hours a week or someone who works 70?
If you guessed the latter, you’d be incorrect. Research done by Stanford showed that productivity diminishes after 40 hours and falls off a cliff after 55 hours. In essence, less is more.
Resource? Life on The Wire by Todd Duncan – in his book Todd challenges the status quo in search of a better, smarter way to work and live.
When you are inconsistent, nothing works at the optimal level.
Here’s what I know: recruiters, talent attraction coordinators, team leaders, managers, and real estate sales professionals who consistently set and attend appointments are producing more results, period. These leaders are consistent and disciplined in their daily prospecting and marketing routines.
Consistency… social media does not work if you are not consistent; geographic farming does not work if you are not consistent; repeat and referral does not work if you are not consistent; open houses will not work if you are inconsistent; online leads – a waste – if you are not consistent; recruiting and talent attraction is a roller coaster without consistency.
Show me something in your business that works when you are inconsistent.
Anything you are going to do, the more consistent you are with your mindset, attitude, approach, expectation, strategy, and tactics, the more predictable the result.
Bottom line: when you are consistent, everything works… when you are inconsistent, nothing works.
So my question is, what have you been inconsistent with?
What has that inconsistency cost you financially, emotionally, or physically?
I’d submit that the action we can all take is to be more consistent in creating, setting, and attending more new appointments.
We cannot control the market.
We can control ourselves, our thoughts, and our actions.
Next Steps:
Make an appointment-setting goal for the next 2 weeks and share it with an accountability partner.
Gather your past client list, all of your past leads, open house registers, and people you know, and start making appointments today.
Be CONSISTENT… list the 1, 2, or 3 things you must do consistently to propel your business forward.
“In the end, someone or something always gives up. Either you give up and quit, or the obstacle or failure gives up and makes way for your success to come through.” ~ Idowu Koyenikan
Stop and reflect for a moment. How would your business be impacted if you went on at least one or more new appointments each workday?
Here’s what I know: sales professionals who – embrace the three realities – are setting and going on new APPOINTMENTS are PRODUCING, period. Those that are consistent and disciplined in their daily routines win the day.
Consider this:
• We CANNOT control the market.
• We CANNOT control what others think.
• We CAN control our business process.
• We CAN control our thoughts, behaviors, and routines.
So, why are some sales professionals succeeding wildly today while other agents are getting out of the business?
This posting intends to give you specific ideas and techniques that will lead to a breakthrough in the number of appointments you set. Let’s begin by defining an appointment, and then we will look at seven ways to set an appointment a day.
What is an Appointment?
APPOINTMENTS are any meetings that will positively impact your business. Specifically:
• Sitting face-to-face with a motivated seller (listing presentation)
• Working with a buyer who wants to buy
• Previewing a motivated For Sale By Owner property
• A face-to-face meeting with a Past Client, a Center of Influence, or anyone who can refer you to business
• Meeting with potential investor clients or directors of HR involved in executive moves
Again, I’ll ask how your business would be impacted if you went on at least one appointment each workday?
How would that feel?
Check out these 7 steps that can inspire you to create an appointment-setting breakthrough:
1. Focus Daily on Setting Appointments
Some agents focus on the amount of time they engage in lead generation each day. Some focus on the number of people they contact daily, and some focus on the number of leads they generate.
Top producers focus on the following:
• Setting great appointments
• Getting contracts signed
2. Create A Definition of an Appointment that Serves You
If your definition of an appointment is something like, “I only meet with sellers who will list with me today at 2:00 P.M. for 25% under fair market value and 9% commission,” you will likely find yourself with an empty appointment book!
If you want a full appointment book, create a definition of an appointment that serves you.
3. Affirm That You Set Appointments Daily
Affirm that you will set an appointment each day. Say this simple affirmation constantly throughout the day:
4. Carry Your Best leads with You At All Times
One way to do this is to put your best leads on 3×5 index cards and carry them with you all day long. Even in a mobile world, a top 1% producer – because she is in the car all day – uses a paper form! Or enter them into your Smart Phones note or reminder app. Or use a CRM with mobile capability. Have a system as we know a system will produce what a system will produce, nothing less, nothing more.
What does your current system produce?
The key is to call your leads constantly throughout the day. Consider calling your leads three separate times each day to increase the probability of reaching them and setting an appointment. Call them first thing in the morning, try it again around lunchtime do your last attempt at the end of the day. You cannot overcall your leads. Consider using a tool like REAL CONTACT or VERSE.IO to streamline your process.
5. Know Your Automatic Shot
Your “automatic shot” is the source of business you know you can count on if you really need a deal. We all have areas where we excel over others, and we all have sources that are particularly favorable for us, and you must know what it is for you.
Ask yourself this question: “If you absolutely had to set an appointment today, who would you call?” The answer to this question will define who or what your automatic shot is. Make sure to take your automatic shot every day!
6. Learn A Few Basic Closings to Improve Your Confidence
Skills and confidence are critical in this market. Be surrounded by like-minded professionals that invest the time in learning the scripts and objection handlers necessary to confidently set appointments with ease. Let’s work to enhance your closing and objection-handling skills so you can add one appointment each and day or, at minimum, every week.
7. Be Unattached to How and Where Your Next Appointment Comes From
The key here is to remain focused on the fact that you intend to set at least one appointment each day. Once your intention is set, simply go about your business, follow your schedule, and do your lead generation and conversion.
So, there are seven ways to set at least one appointment daily. I want to encourage you to shift your focus and energy now.
“If I Am Always Shaking The Tree, An Apple Will Fall Somewhere!”
Focus on:
1 – Finding your next appointment,
2 – Going to another appointment and
3 – Servicing your existing clients at the highest level.
Your ACTION STEPS:
√ Make an appointment goal for the next two weeks and share it with an accountability partner.
√ Gather all your past leads, open house registers, and people you know and start making appointments to meet – ask for tips on people they may know who need to buy or sell. Use tools like – VERSE.IO – to streamline the follow-up nurturing process.
√ Consider creating a small appointment-setting mastermind group that meets in your office weekly. Roleplay objections, practice your listing presentation, and critique each other; practice answering a buyer who asks: “Why should I use you?”
√ Once you have the appointment, consider what I learned from Jeff Bezos, CEO, and founder of Amazon:
“We don’t make money when we make a sale; we make money when we help someone make a purchase decision.”
If I Am Always Shaking The Tree, An Apple Will Fall Somewhere!
“A coach is someone who helps you see what you don’t want to see so you can be who you’ve always wanted to be.” ~ Tom Landry
One of my former associates, real estate team leader and top producer from Austin, Texas, is also a “coxswain” and a rowing coach. He told me a story about a new rower placed on a boat with eight others. He noticed she appeared to be working very hard and sweating profusely. Yet, her technique was so off it wasn’t helping the team.
Can you relate to a time when you’ve been working hard and not getting the result you intended?
A rowing team – and your business – need more than just quality, skilled resources. You also need all your resources in the right seats, doing the right things.
Here’s the thing I learned about rowing: in an eight-person boat, each rower has one oar—four on port and four on starboard. If one side pulls harder than the other side, the boat turns. If one side’s oars are raised higher than the other side, the boat tips. To find the set and create a swing, everyone must work together to balance the boat and have the exact timing. Your hands must be at exactly the right height as you slide up to the catch. Every oar has to drop into the water at the exact same time. Everyone needs to pull under equal pressure. All the blades need to come out of the water and release in unison. Any deviation disrupts the boat.
So, what can we learn?
First, have a clear direction, but an easy hand on the steering: The “coxswain” job is to keep the boat on course and steer the straightest line possible. Steering too much means zig-zagging over the course and rowing far more than 2,000 meters, which adds to the time. The trick is to keep the end in sight and steer to a center point far down the course, not trying to keep coming back to the center every stroke. To do this, the coxswain calls out increased pressure for a few strokes on one side of the boat or the other to correct the course rather than use the rudder, which slows down the boat.
Learning: High-performance teams always keep the end in sight and know the ultimate objectives of their work. Without a clear picture of the goal, teams thrash with the process and fail to achieve proper alignment in their activities. Going in the wrong direction as fast as you can doesn’t get you any closer to the finish.
Second, it’s not how hard you work; it’s how hard you work together: It turns out that pulling as hard as you can without pulling together actually slows the boat down. Imbalanced power will veer the boat in one direction and throw off the catch and release timing. Uncontrolled straining at the oar can tip your weight left or right and toss the boat side to side. A successful team pulls in perfect balance and with perfect timing.
Learning: Successful teams know that performance is a function of collaboration and coordination, not a sum of individual effort. Knowing how your contribution affects the outcome and staying highly aware of what others are doing while staying in sync are critical to delivering results. Reacting quickly, deliberately and in a coordinated fashion allows teams to adapt to changes, handle new information, and stay on target.
Or you already have a team and are now questioning that choice?
Maybe you already have a team performing at a high level, and you are looking for a boost?
You see, we’ve just about seen it all:
Starting a team too early;
Starting a team for the wrong reasons;
Starting a team without a straightforward value offering;
Starting a team with no or poorly written team agreements;
Letting your team and performance get stagnant.
In the most successful teams we know, the leader assumes the CEO role of the team, and they always lead with revenue! And they understand this:
“A system will produce what a system will produce, nothing less, nothing more.”
Here are a few thoughts to consider as it relates to team leadership:
Team Requirement No. 1:
Do you have a clear and compelling value proposition?
Will you be a lead provider?
Will you be a coach, trainer, and mentor?
Without a clear value, turnover will be the challenge you face.
Team Requirement No. 2:
You’re on Target or Ahead of Your Production Goal
Bringing additional team members aboard is not only a big responsibility… It’s taking on a serious expense.
If your income cannot support additional team members, you only set yourself up for failure.
Get your house in order, and then consider taking that next step.
Lead with revenue first
Team Requirement No. 3:
You Have At Least 4 Successful Pillars of Lead Generation
You have solid influence strategies (referrals) in place or control strategies (online leads) in place.
You’re tracking and measuring all your leading indicators, right? (If not, you’re not ready for a team.
When you look at your lead sources, are you producing multiple sales monthly from AT LEAST four different pillars?
The key here is to ensure your business is diversified sufficiently to support additional sales agents on your team.
Team Requirement No. 4:
You Have Lead Follow-Up Systems in Place That Create Raving Fans and Ensure a High Level of Service
Are your systems in place to the point that you can say you’ve operationalized your business?
If not, it’s not a total deal-breaker, but know that developing systems as you grow your team will steal precious time away from your more immediate dollar-productive work. Can you afford that?
Team Requirement No. 5:
You Have an Accountability Structure in Place That is Utilized Daily
As a team leader, you need a built-in system to hold you accountable to your schedule, the systems you have in place, and the others on your team.
This accountability structure begins with you and must extend to all who join your team.
Suppose you’re not consistently sticking to a morning schedule and setting that example for others. In that case, it will be difficult for you to expect team members to perform with the necessary daily discipline to succeed.
If not, you might want to work on your discipline a bit before putting yourself out there as a role model.
Team Requirement No. 6:
You are on a mission to grow your leadership skills and serve your team members
Face it, some of us just don’t want to “manage” others, and all that entails
If you are not into people with a decent EQ level, you might want to consider options like a sales or operations manager who can handle those things.
Now that you’ve considered six factors for team success, I have a practical exercise to start the process.
Why do you – and your team – do what you do? This may sound like an odd question, yet one example could be: Are you in the real estate business (I sell real estate) or the problem-solving business? (We help consumers navigate the complex process of buying, selling, or investing in real estate with ease, transparency, and less stress.) See the difference?
How are you different or unique? And does that matter to the typical consumer?
Who is our ideal client? And how do you reach them in relevant, consistent ways?
Hyper-local. Are you constantly working to become a hyper-local expert? The portals and national chains can never be the hyper-local expert.
Growth plans – what is your vision? If you are in one city, do you want to expand into other cities or even another state?
There you have it; the opportunity is yours.
Consider this…
With all the plans, strategies, goals, innovations, business practices, and culture that make up your team, you are getting exactly the results your business systems and processes are currently capable of producing – nothing less, nothing more! Looking to be more outcome-focused? Read this blog from Mark Johnson, co-founder of CoRecruit.
To get better results, you must improve the design and execution of your business systems and processes—at the detail checklist level.
The law of cause and effect governs all business outcomes. To change an effect or result, you have to change the cause.
Leaders make one thing more than any other: decisions.
Every environment has constraints, and the decisions about how time and resources are allocated – about what to do next – drive all outcomes.
How do leaders decide what’s next? Is it based on urgency, proximity, or values? It’s a mix of each, yet the top 1% make more value-based decisions.
The top 1% know the first in + first out approach is not an effective strategy; it’s typically an excuse or by default. Even worse: defaulting to the squeaky wheel strategy. Leaders minimize the whirlwind. By design vs. by default.
By design vs. by default
PS: Need help with talent attraction, selection, or sourcing accountability? Just a DM away.
