By Melissa Krchnak
We all have pieces of our business that can suck our time away from being successful: meetings that don’t feel productive, emptying our inbox, conflict resolution, admin tasks, and chatting with our friends and colleagues. Just yesterday I encountered the worst of the time sucker, the commitment-phobe. This particular person is an over-analyzer who uses that as an excuse for, you guessed it: Never. Making. A. Decision.
I’ve met with this person three-to-four times over the last couple of weeks with each meeting lasting an hour or so. Yesterday, when he was supposed to be signing on the dotted line, he again wanted to ask more questions. He knows this is the best decision, but can’t “buy in.” I worked through every objection masterfully until I was fed up. So, I gave an ultimatum. “You need to make a decision on how you want to move forward by Wednesday at 3 p.m.” No ifs, ands, or buts about it. I don’t know what Wednesday holds precisely, but one thing it certainly does possess is a resolution.
Melissa Krchnak is the assistant team leader for Keller Williams Realty in Rancho Cucamonga, Calif. Connect with her at kwrancho.com.
By Chris Nichols
I just got back from some meetings in Orlando, Florida. There are many beautiful golf courses in the area, and I had the opportunity to drive by Disney’s Lake Buena Vista Golf Course and see this phenomenal golf hole.
Surrounded by water and sandwiched between two sand traps, this hole could easily be summed up as “challenging”! But is it really? Interestingly enough, the green is no different in size than a standard hole without the water and the the sand traps. In other words, it’s not any more difficult to get the ball on this green than on any other green at your local golf course.
Why then, when we look at this hole, do we automatically add the words challenging or difficult to its description? It lies with where our focus is centered. If we are focused on the goal or objective (aka the pin and hole), and not on the visual distractions (aka the sand traps and water waiting to gobble up your golf ball), it’s much easier to get the ball on this green. Golf course designers like to add these obstacles because they understand that the principle of target fixation will distract the golfer and increase the difficulty of the hole.
How often do we allow external challenges, Continue reading »
By Dave Robison
The problem client:
That’s what an agent said to me over a year ago. “Dave, this client calls me a lot and is really high maintenance. Her listing price is unrealistic, we should just drop her listing.” This agent was selling 40 listings a year. He should know exactly what he is talking about right? Many sellers have pie-in-the-sky pricing on their listings and they may blame you that its not sold! Phone rings… “Mr Agent, why haven’t you sold my unrealistic high priced listing? I mean you haven’t even brought one buyer over to see it!” (Ummmm…probably because no one wants to see an overpriced listing, duh.)
Well, this seller had a hard time reaching their listing agent mainly because the agent felt like she was high maintenance and his time was better spent elsewhere. As a result, when her mother asked if she liked her agent, her response was, “Not really.”
There went $20,000 in referral commissions down the drain. The mom went and used another agent.
I took over:
Right about this time I heard through the grapevine that she wasn’t happy. The agent wasn’t happy either. So I took over. I sold her home and helped her buy another one. That client was worth $20,000 in commissions on those transactions. If she had been happy there would have been another $20k in commissions for a total of $40,000 in commissions made.
Where success comes from: Continue reading »
By Brooke Wolford
Lately, there has seemed to be a lot of drama surrounding the world of real estate. We can’t seem to go a day without some sort of challenge. I have found myself getting emotional sometimes because I work so hard and I seem to frequently get a smack in the face.
This past weekend, NAR passed the REALTOR® Party Political Survival Initiative. I watched it happen live via Twitter. Soon after it was announced, the comments started rolling in. It was amazing how emotional many agents were about the issue. While many had different views on the issue, I did notice one amazing thing…agents were coming together. In my 11 years in the business, I had never seen anything like this. It seemed as if we were all working together, regardless of company affiliation. It was truly amazing.
As an 11-year veteran of the real estate industry, there have been many changes in our business and this is one of them. If you are like me, this is why you are in the business. We need to be able to adapt and evolve with all the changes. Use the challenges you face to help you grow as an agent.
“Though the road’s been rocky it sure feels good to me.” –Bob Marley
Brooke Wolford is a real estate practitioner with Edina Realty, Hastings, Minn. Follow her blog at adventuresinrookierealestate.com.
By Kelly Reark
I have been representing a buyer since June of this year when he made the decision to put in an offer on a short sale. We aren’t closed yet, and it has been a bumpy road. Our journey actually began in January of 2007, but who’s counting?
There are many ways that this deal could die along the way. Here are my top five buyer bail scenarios that could stop you in your tracks.
1. Before actually writing the offer, counsel your buyer on what a short sale will likely involve. Make sure they are prepared for the waiting game. It is up to you to keep them interested and excited about their purchase.
2. Buyer’s remorse. Are the buyers seeing other properties sell for the same amount or less than the one they have the offer in on? A longer waiting period between the offer and the acceptance can issue a set of military spec cold feet. Keep a working CMA for your buyer that you can update during the waiting period. Point out the benefits to the home they have chosen.
3. Work with the lender to get your buyer’s finances in order ahead of time. If they are serious about making a purchase, they should begin the paper trail for their loan package long before hearing back from the seller’s representative. State your contract in such a way that there will be ample time to complete a mortgage after the seller’s approval comes back. (And lock in that great rate!) In the case that their offer is denied, they will be ready for the next one. Continue reading »
By Toby Boyce
Recently, my wife and I had a chance to attend the final game for the Columbus Blue Jackets this season at beautiful Nationwide Arena. No I’m not bragging this does have something to do with real estate – just give me time.
In case you are not a hockey fan – or even if you are – this past season for the Blue Jackets was pretty disappointing. After making the NHL playoffs last year for the first-time in franchise history this was supposed to be “the” year. The coach – Ken Hitchcock – and star players were going to make a run into the NHL playoffs and make this city proud. Well, everyone is a winner when the season starts, but fast forward to April and “Hitch” is gone as well as any chance of this squad making the playoffs.
As we sat and watched this game unfold it was obvious that the Blue Jackets – both on the ice and in the stands – had mailed in these final couple of weeks. The Red Wings were consistently on the attack and the fans were sitting on their hands. The atmosphere in Nationwide usually has a pretty strong level of energy, however on that night it was like a wake – and not an Irish one at that.
Okay, so how does this relate to real estate?
Well think about those new listings. Sitting at the kitchen table when that John and Susan Seller signs those documents and you have that brand new listing it is a great feeling. You’re confident it is priced right and the buyers are going to be lining up for this property. Continue reading »
By Brian Copeland
Watching the Grammys is always a highlight in my year. As a former music publisher with still interest in a few companies, I still get to vote! This darn REALTOR® addiction and the constant need to find applications for my business and profession in everything I see drives me nuts; so, of course, I have to comment on the things I noticed on the Grammys that we can apply to our business.
1. Collaboration is key. Lady Gaga and Elton John’s opening duet was a perfect blend of classic and new. As a “Gaga,” who are the Eltons you are including in your life for a duet? One of my biggest learning experiences came from a veteran agent in my local market who owned a competing brokerage, Christie Wilson, of The Wilson Group. We co-listed several things when I was new in the industry, and I learned so much from her wisdom.
2. Your recognition will eventually come. Kanye West made musical tacky history with his scene steeling moment with Taylor Swift at the VMAs. Beyonce held her own smoothly and classily and saw her song rise to the top for Single Ladies. If you don’t get the position/thanks/whatever you expected from your association, clients, brokers, etc., hang in there it may come in another way, a little further down the road. Continue reading »
By Jeremy Williams
I heard the song “Don’t Worry, Be Happy” by Bobby McFerrin played over the radio on the way home from the office. How relevant could this song be as the theme song for the thousands of real estate business owners across the United States?
Running your own real estate business can at times be stressful and create worry. Like the lyrics from the song say, “In every life we have some trouble, when you worry you make it double. Don’t worry, be happy…”. How often do we let the little things in our business get under our skin to the point it becomes an agitation? The agitation festers and bitterness can follow. We know that it is inevitable that troubles will come, but it is how we deal with the troubles we face that will determine the outcome. So don’t worry because we know that challenges will come; instead be happy that we can prepare ourselves to deal with them.
Here are a few steps to prepare how to deal with challenges that may evoke worry:
1. When faced with worry, know that in the grand scheme of life the challenge you are facing is more than likely minimal though it may not be pleasant while you are in the situation.
2. Always know that someone has more than likely been through what you are going through in your business. Seek the advice of seasoned REALTORS concerning your business situation.
3. Avoid becoming a rain cloud to those around you.
4. Don’t forget the past, but don’t remain in the past.
5. Remember that it takes more muscles to frown than to smile. A smile can change the attitude about the situation you are in, and a smile can also positively impact those around you.
So don’t worry, be happy as you set out in your business today. What are your thoughts on this?
Jeremy Williams of Keller Williams Realty NE in Kingwood, Texas specializes in the residential real estate market of Kingwood, Atascocita, and Humble, Texas. Visit his Web site at www.williams4yourhome.com.