By Dave Robison
More than five years ago, I had agents take a test before they worked with me, which tested their sales skills and emotional resilience. I had a couple agents making over $80,000-$120,000 a year who had tested in the “Find a new career; you shouldn’t be in real estate” category. Where are they today? Not in real estate. What seemed like success years ago, today seems like it was all just a pipe dream. A rough economy weeds out those who shouldn’t be in the business and makes the others stronger.
The test showed that agents that had strong emotional resilience have what it takes and they would stay in the business and make the most money. So what is emotional resilience and what does it take to have emotional resilience?
An example of weak emotional resilience, an actual story of one of the agents above who tested poorly:
One day, Agent X came into the office and had just found out that their client/buyer ended up writing an offer on a home that Agent X had shown them the day before, however, the client wrote it up with a different REALTOR®. It literally ruined Agent X’s week. So Agent X called up the other agent, chewing them out, saying they stole the client when it was Agent X who took them through the home. The result was just a bunch of bitter feelings toward each other and an unproductive week for Agent X.
An example of strong emotional resilience:
Just this past month, an agent of mine had almost the same thing happen. My agent had been working with a client for a long time but apparently others had too. An agent from another brokerage called my agent up mad, stating we stole their client when they took the client to and through a home. (There were no agencies on either side.) My agent responded, “there is plenty of business out there for all of us so let’s do what the client wants. If the client wants to use me, I’m happy to pay you a referral fee for your work and effort. If the client uses you, I would expect the same.” The other agent perked up and agreed. The two agents communicated during the entire transaction, our agent closed the deal and the other agent got a referral fee. It was a win-win for all. Continue reading »
By Jared James
Part of my job as a real estate speaker/trainer is to keep up to date on the latest news, fads, tools and technologies that come out so that I can determine if I think they are here to stay and worth covering with REALTORS®, or if they are here today and gone tomorrow and not worth our time (see talking signs as a case in point). Well, I just got off of a webinar I was doing for real estate professionals on creating new leads using both the old school and new school methods to create the maximum number of opportunities in today’s marketplace, and one of the newest methods that I think is worth paying attention to was demonstrated by Dream Town Realty in Chicago who actually decided to leverage the popular coupon site Groupon.com.
They created a Groupon coupon for buyers and sellers in their area, which cost the potential clients $25 up front and required them to used Dream Town Realty to buy or sell, then at closing the Groupon clients would get back $1,000 in cash (as long as their purchase or sale was greater than $150,000 and they closed within the next 12 months).
Amazingly enough, they had 219 people sign up for this attractive offer in only one month. I think we all would agree that we would be OK with being connected with 219 potential clients that are serious enough about buying or selling a house in the short term that they are willing to pay $25 up front for a coupon.
Now Groupon is only available in major cities, but if you are considering using such a tactic as Dream Town Realty you may want to check out Livingsocial.com or the newest site that actually focuses on secondary markets and was created by the popular ActiveRain.com founder, Jon Washburn, called www.dailyticket.com There is even a coupon site created specifically for real estate deals called housetipper.com. Continue reading »
By Jennifer Klein
Follow these two rules during any negotiation and you’ll find success!
Jennifer Klein is a REALTOR® in Northern California who is experienced in short sales, investments, and property management. Connect with Jen at RosevilleAndRocklin.com, JenKlein.com, and @JenKleinSac.
By Brooke Wolford
I recently chatted with John DiBiase, NAR’s Government Affairs communications director. We got into a discussion about YPN and how it changed my career. I though it’s a valid story to share.
When I first obtained my license, I began working in a large office. I started out by assisting a fellow agent. Within a month of me having my license, the agent I worked for business went downhill. My hopes of being able to learn from a veteran agent were gone. Besides that, the office I worked in was so large, that I got lost in the shuffle. I began to realize that this office was not the best place for me.
I ended up moving to a new company. I love the company and the technology tools it had. While I loved my new company, I still felt like I was missing something. I couldn’t seem to get on track and get my business going. I began to research ways to launch my business and I soon ran into the YPN website.
I couldn’t believe the information I found. I would read blogs in complete amazement of what other agents were doing. Some if the things I learned I had never even heard of before. I went on overload a bit. But I have to say, it’s the best thing that ever happened to me.
I have been able to grow as an agent. My business has improved tremendously. Some people may say that I know what I am doing now. Outside growing my business, I have also become more involved with my industry at-large. Not to mention being able to connect with people at NAR like John who I have been able to get advice from and be able to voice my opinion to.
So if you ever had any doubts about YPN, I am a perfect example of why it works. I am not paid by NAR or YPN to say this; it’s the truth. If I hadn’t found YPN when I did, I can’t say that I would still be in the business.
Brooke Wolford is a real estate practitioner with Edina Realty, Hastings, Minn. Follow her blog at adventuresinrookierealestate.com.
By Chris Nichols
I recently attended a conference where I heard the following story related:
An elderly man had dreamed of taking a cruise to the Mediterranean for most of his life. The man did not come from means of any sort and had saved for years and years to make this dream of cruising a reality. Being frugal with his money he kept mostly to his cabin, venturing out only when the ship was docked at the various ports he was so anxious to see. He brought several cans of food with him on this trip and ate in his cabin, avoiding the fancy dining establishments throughout the ship. He also skipped all of the parties and entertainment opportunities the ship offered throughout the cruise. On the last night of the cruise as he was returning to his cabin to prepare another meal of canned food, a crew member inquired of him which of the various final evening parties he planned to attend. The man quickly responded that he could not afford to attend any of them. When the crew member explained that all of the parties, entertainment and food were included in his ticket, the man suddenly realized that he had been living well below his privilege for the entire cruise.
This story struck a nerve with me this last week as I have watched the blogs, Twitter and other social media venues light up with discussions on the REALTOR® Party Political Survival Initiative (RPPSI). While there tends to be vociferous opposition to RPPSI, what disappoints me even more are the number of NAR members who have chosen to live well below their privilege of membership in our great association. Much like the man on the cruise, many members choose not to understand or exercise all of the benefits and opportunities that are already theirs for the taking at no additional cost. It pains me, as I am sure it pained the crew member who informed the frugal man, to see members missing out on so much simply because they haven’t taken the opportunity to discover the world of benefits that membership in NAR provides to them. It’s not like they are hidden, or that NAR hopes you don’t take advantage of them. Simply by visiting REALTOR.org, most, if not all, of these benefits are just a few clicks away. (Check out where your NAR membership dues go.) Continue reading »
By Stefanie Hahn
At the recent REtechSouth conference in Atlanta I had the chance to see Robert Hahn of 7DS Associates speak on a subject he titled, “A Time for Greatness.” This presentation was geared to association execs and REALTORS® who are leaders within their organizations – a group well represented in the RETSO crowd. Since YPN has given me the opportunity to be a leader in my own state I felt compelled to attend and scribbled mad notes throughout the two-part session.
Let me say two things right away…
1.) Rob and I are not related.
2.) This is my interpretation of the presentation based solely on my notes. If you want a deeper look, read Rob’s post-event blog post or talk to him directly – he likes to engage with others in this field.
The first thing I noticed is that Rob has little hope for our generation if things don’t change – not fatalistic, but just not hopeful. The other thing I noticed is that Rob is really smart. Combine those two things (little hope and big brains) and I knew this was something that had to be shared and something we could work on.
Rather than focus on the industry issues many of us already know exist (and during his talk he covered all the favorites including low industry standards, high turn-over rates, and public perception) I think we should use Rob’s talk as a clarion call to think about possible solutions. That is what I have chosen to do. I know others are too – in fact many associations are already considering new directions – but in this case perhaps doing it from a YPN perspective makes sense.
One of the first suggestions Rob made was to reform governance within the REALTOR® associations. Perhaps organizations don’t need all these people to make decisions. This one hits close to home, of course, since I just managed to earn a seat on my state board of directors. I must agree with Rob though that many associations should consider whether longer terms are necessary (after all, just how much can you accomplish knowing you have just 365 days to get it done) and should give more thought to whether direct elections are the way to go. Certainly from a YPN perspective, knowing you can “be a part of the process” from the outset may encourage more direct involvement. Continue reading »
By Dave Robison
A few years ago, I was talking with an agent in my office, we will call him Jack. I said to Jack, “Jack, what happened last week? You didn’t make any new calls.” In our office, we report how many calls we make each week to hold each other accountable. Jack said, “The Smiths deal is taking up my time…it’s just all I work on. The other agent is so difficult to work with, too.”
At this point I could have said, “Okay good luck, keep up the good work.” But if I want him to succeed, I have to go deeper:
Me: “Okay, lets talk about that. Yesterday, how many times did you call him?”
Me: “How long was that phone call?”
Jack: “10 minutes.”
Me: “Okay, so what happened with the other 8 hours of the day?”
He became frustrated with the statistics and was at a loss of words. He realized that his emotions surrounding the deal were consuming him. He had anxiety about the deal going through. A sign that you might be stuck in this same mode is if you have closings one month and none the next. Or, if you didn’t have any time to call new leads yesterday you might be in this mode, too. The top REALTORS® all share something in common: They have emotional resilience. They learn how to get closings every month. Here are some steps to overcome the consumed state of mind and make yourself consistent with closings.
1. Keep statistics: By keeping statistics of your BIG ROCKS, as Stephen Covey suggests, you can ensure you get the most important things done. We keep stats on the number of calls we make. Continue reading »
By Brian Copeland
In late 2010, Rock The Vote commissioned a hefty research project on political issues as they relate to young adults. Some of the findings surprised especially the political parties. For example, 36 percent say that it doesn’t matter to them which party is in control of Congress. A whopping 83 percent say that their generation has the power to change the country. They are also likely to support a candidate who supports investing in new technology to create jobs and reduce dependence on foreign oil.
When I look at these figures, they totally support what I heard in our recent YPN Advisory Subcommittee meeting, which was called to discuss The REALTOR® Party Political Survival Initiative (RPPSI). We came together as a group to discuss the proposed $40 dues increase (from $80 to $120 annually) and whether we as a group wanted to make a statement of support or not. Candidly, I was nervous. This topic has been dominating the real estate blog world for several weeks, and it’s clear that many people are furious about this.
In our meeting, I heard the concerns I had been hearing locally, but I interjected to remind them, “I want to hear what YOU and your YPN locally are saying and thinking about this.” Wholeheartedly, with zero dissent, many YPNers who have spoken out are behind the RPPSI. In fact, one member reported that they polled their YPN members locally and only one person out of 30 brought up an issue with RPPSI. The majority in her YPN said they felt they would be watering down the industry without the RPPSI initiative. Member after member spoke passionately about the need for this.
After I left the meeting, I had to digest. Was I really hearing what I thought I heard? That’s when I started searching out voter information on our demographic, and it hit me. Again, nationally, 36 percent of young voters say they don’t care about parties in Congress, and that statistic supports the notion that our YPNers are not falling into the mindset that RPAC is too partisan. Continue reading »