Qualify Your Clients!

Today I would like to discuss how qualifying your clients can give you great results.  You may be getting a lot of calls coming in off your signs, or Internet inquiries, or past client referrals.  Do you have a systems for how you handle these?  Well today, we are going to talk about how to do that.

First I want you to consider that all calls coming in are SUSPECTS.  They are suspects because you don't know if they are going to turn into a LEAD yet.  Just because they want to talk about real estate, doesn't make them a lead.  A lead is someone that is going to do business RIGHT NOW.  Now you will need to determine when "right now" is for you.  For some of you right now is going to be in a couple of weeks, and others it can mean in the next 30 to 60 days.  It just depends on how busy you are and how you want to manage your business.  We want those leads to turn into CONTRACTS!

So how are you going to qualify your suspects?  The 3 steps listed below should help you do that.

1. Do you have a questionnaire that you automatically go to?  One for a buyer call and one for a seller call?  If not, you need to stop what you are doing right now, and make them.  You questions should help you determine whether or not your suspect is an A, B, or C.
2. An "A" suspect is one that is going to do business right now.  A "B" is s suspect that is going to do business in the next 30-90 days.  A "C" is a client that is going to do business in the next 90 to 120 days.  Notice there is no "D" suspect.  Because a "D" suspect needs to be deleted.  You will need to determine how much time you spend trying to turn your C's into B's and your B's into A's.  Because the C's and B's do affect both your time spent and your cash flow.  You need to have 5 A's on you right now.  You need to have 5 A's in your pipeline at all times!
3. Qualifying is a game of accuracy.  You have to be doing it all the time.  A "B's" status could change to an A at any point.  Or could a buyer you are working with that is an A change their mind and become a B at any time?  You need to constantly measure where you are at with a particular prospect.

Hopefully these tips have help out, and stay tuned for more successful coaching!

Brandon L. Penny
bpenny@fmrealty.com
http://www.facebook.com/fonvillemoriseydurham
(919) 402-1201

Money Saving Marketing Tips

Often, new agents come to me with their license, and say, "now what?"  Or I will have some of my experienced agents come to me while there is a lull in their business and ask me for some new marketing ideas.  Also, most of us are looking for ways to save.  So take a look at the money saving marketing tips below.

Print Marketing

• Create a neighborhood newsletter (mail it or walk it)
• Mail hand written notes and thank you cards to your clients
• Update your business cards with your social profiles
• Direct mail with neighborhood comps
• Create or sponsor a local business or resource guide
• Create t-shirts, pens, etc. and give them away to clients and friends
• Get a vanity plate for your car
• Carry with you at all times your business cards, and hand them out

Email Marketing

• Send an email inviting your network to you social profiles
• Send emails with rate updates and info (work with your in-house or local lender)
• Send a weekly email with the local weekend events (attach a coupon for a local business attraction)
• Send a monthly email newsletter
• Create a drip email campaign, focusing on your niche (offer tips and advice)
• Send out seasonal homeowner reminders and safety tips
• Send flash animated birthday or holiday cards (jibjab or Zingding)

Blog or Website Marketing

• Do a video/podcast blog series on specific topics or your niche (example:  http://hotpropertyblog.blogspot.com/)
• Offer a free IDX search tool
• Add Facebook Connect to your blog
• Create a local special interest landing page (i.e. schools, non-profits, farmer's market, etc.)
• Offer client Q & A via a contact form, highlight it in your sidebar
• Post articles about others on your blog or have a guest blogger (local businesses, interesting people, neighborhoods, etc.)
• Create an ebook, require name and email address for free download
• Most importantly, comment back timely and create dialogue within posts

Facebook Marketing

• Create a profile and import your contacts
• Send daily birthday wishes
• Comment or like 305 posts from the Newsfeed daily
• Update your status with something fun and something of value once a day
• Create a Facebook page for your business
• Post helpful and relevant resources from your FB Page
• Leave comments on local business pages or groups (NO SPAM)
• Comment on others' status updates
• Create a past client photo album with testimonials (tag those clients to the albums/photos)
• Create Animoto slide shows or a photo album for listings and post them to your page

Twitter

• Create a Twitter profile
• Use the "find People" feature to find people you already know on Twitter
• Tweet homeowner tips
• Tweet funny, inspiring and engaging experiences and information
• Tweet local market info, updates
• Break news as it happens
• Tweet local event information
• Tweet your blog posts

Each of these are great ideas to help with your marketing efforts, and they cost little if no money.  So get to work!

Brandon L. Penny
bpenny@fmrealty.com
http://www.facebook.com/fonvillemoriseydurham
(919) 402-1201

6 Power Prospecting Tips

I wrote a recent blog post about being in the "Danger Zone."  This post discussed how hot the real estate market had gotten, and that agents should not lose focus on your prospecting while working through their transactions.  Without prospecting you have no future business.  Today, I want to give you a few powerful prospecting tips so you can keep that momentum going! 

1. Your Job:  You need to make sure prospecting is your job.  If you have been in real estate sales for a while, and had any success, you know that this is the part of your job that can take you to that next level.
2. Same Time:  You need to be doing your prospecting or lead generation at the same time everyday.  You will end up making excuses for not doing it and you won't be as affective.  You need to make it an appointment that you do everyday.  Put it in your calendar as a recurring appointment.
3. Role Play:  Pick a role play partner.  Maybe even find a prospecting partner.  Then I want you to role play at least 3 times a week.  This way both you and your partner can critique each other allowing you to improve each time you practice.
4. Mental Attitude:  What are you thinking about just before you make that call?  Are you thinking about the rejection you are going to get?  You need to have a positive mind-set.  You need to go into the call really feeling that it will be your next appointment.
5. Numbers:  You need to track your numbers.  You need to know how many contacts you are making to get the leads that you need. 
6. Get Up:  When you are making your calls, don't sit slouched over in a chair at your desk.  Stand up and make the calls.  I like to walk around when I am making calls.  It gets the blood flowing and allows me to speak with more energy. 

You know what the best part of prospecting is?  It's free!  It doesn't cost you any money to do it.  Agents should be spending 1-3 hours a day on the phone calling past clients, sphere, expireds, FSBO's, and notice of defaults to get listing appointments.  So pick up that phone and get to work!

Brandon L. Penny
bpenny@fmrealty.com
http://www.facebook.com/fonvillemoriseydurham
(919) 402-1201

Ignite Your Business Part 3: Time for a Recommendation

This is the last part of our 3 part system for agents looking to get a quick jump start on their business and to ignite a little buzz over a 30 day period. Again, we are going to need your contact management system in order, and grouped into your A's, B's and C's.

In the last part, we are going to work on giving people recommendations. But not just any old recommendation.  The first step is to join LinkedIn, if you haven’t already.  Then I want you to search for people you have worked with, either in real estate, or in some other capacity.

Next, I want you to recommend them.  Say something positive and unique about that person.  Speaking of their uniqueness is key. Focus on something about that person that makes them stand out above all others. You want to give the kind of recommendation that makes someone message you and tell you how you just made their day or their week.  If you need help learning to right a good recommendation, click here.

This is a really easy task and won't take more than 10 to 15 minutes of your time.  I want you to give one recommendation a day for the next 30 days.  By doing this, you have hopefully made 30 people happy, and if you are lucky, you will get 30 recommendations of your own.  Even if that doesn't happen, even if you only got 10, that is better than none.

Social media is out there to help you. And it’s perfect for what you want to do–generate leads. Where else can you have access to millions of people in the matter of a few clicks?

Brandon L. Penny
bpenny@fmrealty.com
http://www.facebook.com/fonvillemoriseydurham
(919) 402-1201

FM Durham Quick Tips: Danger Zone!

The real estate market is heating up.  Triangle MLS is up over 30% in sales year to date.  Our office is up over 60% in sales year to date.  This puts us in the DANGER ZONE!  Why does a hot market and sales being up put us in the DANGER ZONE you ask?  For most agents, without the proper systems in place, if sales activity is way up, their prospecting for future business is way down. 

I say now is the time to return your attention to working on with your sphere of influence.  Below is a list of actions you can take to reach out to your VIP's (Very Important Prospects).

• Visit the Dollar Tree and order some flower pots, drop in your business card and deliver.
• Do a print out of your top 10 Grilling recipes and send it to them.
• Send them a hand written note referencing a recent conversation or interaction with them.
• Mail them a post card reminder to have their AC serviced for the upcoming summer.
• Mail them a $1 lottery ticket with your business card.
• Invite them to a Shred-It Party after April 15th (Tax Day).
• Invite your top contacts out to a nice lunch or dinner.

These are just a few great activities you can do to connect with your sphere of influence in the coming month.  Remember, prospecting is just as important as closing.  Keep working those transactions hard until they close, but remember you still need to keep that pipeline full!

Brandon L. Penny
bpenny@fmrealty.com
http://www.facebook.com/fonvillemoriseydurham
(919) 402-1201

Ignite Your Business Part 2: Reach Out and Touch Someone!

This is part 2 of a 3 part system for agents looking to get a quick jump start on their business and to ignite a little buzz over a 30 day period.  Again, we are going to need your contact management system in order, and grouped into your A's, B's and C's.

The second part of this program is the "Reach Out and Touch Someone!"  All you need is your phone, computer and a list of your contacts.  Then take a moment and identify 5 people that you want to make a phone call to. 

Next, and most importantly, determine a purpose for making this phone call.  Why are you calling them?  Don't just call to say "hello" without a reason.  Think of what you are going to say.  Maybe you are calling to follow up on a newsletter you sent out.  Maybe you are calling them to congratulate them on something they posted on Facebook. 


Come up with a purpose for the phone call and write it down.  It is important to write down and have in front of you during the call.  So that you can reference your purpose.

Now all you have to do is make those 5 phone calls.  This is a must.  No matter how uncomfortable you are making the calls, they must be done.  If you find making the calls uncomfortable, they will get easier as you do them. If you are like me, stand up and walk around while you are making the calls.  I find this relaxes me and doesn't make it so formal as sitting in front of a desk. 

I want you to repeat this process 5 times a week for the next 4 weeks.  If you don't get an answer, leaving a detail message will suffice.  Or if you are an overachiever, then be sure to have 5 phone conversations per day, not just 5 calls!

BE REMEMBERED...REACH OUT AND TOUCH SOMEONE!

Brandon L. Penny
bpenny@fmrealty.com
http://www.facebook.com/fonvillemoriseydurham
(919) 402-1201

Ignite Your Business Part 1: Thank You!

This is part 1 of a 3 part system for agents looking to get a quick jump start on their business and to ignite a little buzz over a 30 day period.  First thing's first, you need your contact management system in order.  Group your A's, B's and C's.  Get rid of your D's! 

The first part of this program is the "Thank You!"  All you need is your computer, a phone and your list of contacts.  Then take a moment, and think of 5 people who deserve a little gratitude.  For those of you who don't like to make the phone calls, don't worry, this isn't a must for part 1. 

You can email these people, and it's so easy!  Here is an example, "Hey Joe Jefferson, Thank you so much for helping to get our listing closed on time, we really do appreciate it!"  How simple was that?

What other ways can you thank them?  You can give them a call on the phone.  You could post to their facebook page with a "thank you."  You could pop by their office or place of business and drop off some cookies.  You could send them a hand written note to their home address.  Who doesn't like getting a hand written note?

Who can you send "thank you's" to?  You can send them to your mom and dad, your friend, an agent in your office, your mortgage lender, a husband/wife/life partner, a client, a past client, a closing attorney, a home inspector, an insurance agent, etc.  The list is endless. 

I want you to say "thank you" to 5 people in each of the next 30 days.  And I want you to keep track of it in your contact management system. 

Stay tuned for Part 2...

BE REMEMBERED....SAY THANK YOU!

Brandon L. Penny
bpenny@fmrealty.com
http://www.facebook.com/fonvillemoriseydurham
(919) 402-1201

The Market is on the Move: 3 Ways to Get Ahead of it

There is no doubt that the real estate market is on the move.  Every week there are numerous news reports talking about positive signs in the market and areas of improvement.  In our own office, closed sales in January were up 54% this year compared to last.  So how can you get ahead in this improving market?  Today, I'm going to give you three ways to get ahead:

#1 Your Buyers:  Who's serious, who's not?  If you have that buyer that is looking for the "perfect house", you've got to get comfortable with the dialogue of,  "Mr. and Mrs. buyer, I can appreciate the fact that you are looking for the perfect home, but the challenge in today's real estate market is there ARE NO PERFECT HOUSES.  We are going to be able to find 85% of what you want, but that final 15% is going to come from what you put into the home." 

The bigger issue you have to ask yourself right now, is do you have buyers that are just gobbling up your time that really aren't serious about buying.  Most agents will spend so much time with one potential client that really isn't 100% serious.  And guess what happens?  They end up missing out on four or five additional clients they could have been working with. 

So ask yourself, who is maybe taking up too much of your time that really isn't serious, and for those that are, try and narrow down their focus to the 85% of homes that will absolutely get them what they want.

#2 Sellers:  The bottom line is the script is about the same, we've got to get them priced correctly.  What are we seeing today?  Move-in ready homes that are priced relatively well, in many cases are getting multiple offers.  So you need to do a little analysis on every property you have.  How is the location, how is the entry way, what does the outside look like, what's the showability, what's stopping the house from selling in a market like this? 

Then sit down with your sellers.  Ask them to AMEND the price of their home.  Tell them the buyers have spoken.  When you get the reduction, sit down and ask your sellers, "What would you like me to do for you?"  Then just listen, don't say a word, let them tell you what they want.

#3 Connect:  You need to be connecting with every person who sent you a referral last year.  Whether they were out of state brokers or local past clients or your circle of friends and family, you need to be in contact with them.

The market is on the move, and I want you to get way ahead of it.  Let's have a great rest of the year.  Remember always, your strategy matters!

Brandon Penny
bpenny@fmrealty.com
http://www.facebook.com/fonvillemoriseydurham
919-402-1201

Skills Pay the Bills

While attending the "Success Seminar" featuring Joe Niego yesterday, I gained a handful of ideas I would like to run past you. 

Having been a part of the great real estate boom from 2000-2006, one thing I have noticed since it's decline has been that great markets create poor habits.  I would like to go over a few skills you can master and poor habits you can overcome, that will help you build a more successful business.

You are a small business owner:   You may work for a broker, but you are an independent, commissioned sales person.  This means you are a small business and must operate like a business.

Embrace a planning attitude:  One thing I have noticed about people is that we typically put more effort into planning a vacation or a holiday shopping trip than we do planning our professional or personal lives.  As a broker, if you don't have a plan, you are likely on the the plan of another successful broker.

Establish sales goals:  Using your strategic plan, establish sales goals.  Be specific in those goals.  Don't just say you want to increase your business from last year.  Set a goal of doing a specific number of transactions.  Write these goals down and have a tracking system.

Create a financial budget:  Budgeting is critical given the up and down of this volatile market.  Your financial budget should be based on your forecasted income, and take into account your marketing costs and any additional costs such as your education or the cost of doing business (dues, fees, license, ect.)

Make managing yourself a priority:  Building a business is hard work.  You must learn to practice good time management, manage your ongoing real estate business training, and manage your personal life.  I know that real estate is a 24/7 business, however, it is important not to lose sight of your personal life including family, friends and physical health.

Find a mentor or a Coach:  Accomplishing all of this alone is not an easy task.  Seek out a mentor who can help you maneuver your way through known obstacles and help your during the "peaks and valleys." 

Be a great real estate agent by creating good habits and living by them.  These are only a few tips to help you build a successful real estate business.  More to come!

Brandon Penny
bpenny@fmrealty.com
http://www.facebook.com/fonvillemoriseydurham
919-402-1201