Why do I Think the Way I do?
Sales meeting August 5, 2013
Quote: “There is no substitute for continuous hard work.” Thomas Edison
Door Knock Blitz: Winners of $25 gas cards from the July 31 Door Knock Blitz courtesy of Dany Espinoza and the Rancho Cucamonga branch of Prospect Mortgage:: Carlos Amador, Vince Ciaccio, Marci Quintanilla, and Leticia Hixson. The next Door Knock Blitz is this Wednesday, get details at www.DoorKnockBlitz.com
Training Class on Tuesday: BECOME APPSOULTELY AMAZING ON YOUR iPAD! by Prospect Mortgage. Link to flyer here.
Legal Eagle: Procuring Cause. Answers from CAR are not black and white, you should review both Cindy Rubins notes (link here) and the CAR Document which has great examples and all details (link here).
Market Statistics: July 2013 69% of property listed closed. June 2013 was 79%. Shows dramatically more inventory. Expired July was 7%, June was 10%, but number of expired in June was 190 and July was 203. In Sep 2012, inventory started dropping, this month continues increase, while closings have remained in the same range for 24 months. Conclusion is you have to stay in contact with the seller. Know your market.
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Why do I think the way I do?
How my parents raised me, good, bad right or wrong. Our parents were either an example or a warning. I think the way I think because that is how I was taught to think.
My early education dramatically affects how I think and how I set up expectations. What I was exposed to.
My adult education plays a big part in how I think. Both formal education and our mentors. People also are examples or warnings.
D. People I spend my time with.
E. Spouse or significant other.
F. Books I read and audio I listen to everyday.
G. Because of how I have learned to react to daily life.
H. Because sometimes my emotions get out of control.
How do I change that? Exposure………..
Commitment and time.
Create a dream book
Create a wish list:
(1) Places I would like to go;
(2) Things I would like to do;
(3) Things I would like to have.
Read more great inspirational books.
Earl Nightingale Books
Today Matters, John Maxwell
Nelson Demille (Gold Coast)
Listen to more inspirational audio
Spend time with people who do more than you do.
Never forget the power of Affirmations.
Spend less time comparing yourself to others and more time working on me. Write down where you are today, where were you a year ago. We way overestimate what we can do in one year, but underestimate what we can do in five years.
I am the most important asset I have, not my money, not my family. It starts and ends with me. You are what people are buying. Without me being all I can be, my family suffers. I am what people are buying.
I can’t skip a level of experience or level of learning. I can either preview 5 properties a day, or show 5 a week, which helps you learn the market faster?
You have to be willing to tell yourself the truth. I have to be able to make a connection between the activities I’m involved with and the results I’m getting. You have to talk to more people.
Most agents lack a lead follow-up system, either they prospect for business and don’t follow up or they have so many leads they never get the good ones.
Close earlier. Close more Often.
To become a master sales person you have to triple your failure rate. Until you know what does not work, you will never know what does.
When you have a hot one on the phone, never take no for an answer when yes is possible.
To increase your sales skills remember selling is legal.
I have to remove the options everyday. I have to stop letting stuff get in the way. What options get in the way the most?
Checking messages
Answering the phone during prospecting time
Getting in late
Not exercising
Not practicing
Showing properties
Just because you are doing something does not mean you are doing the right thing.
Self-Talk: 95% of success or failure starts in your head.
Too much freedom now = long term pain and suffering, debt, no savings, no schedule – Rent not buy. No Prospecting.
Discipline Now = Freedom later, put money away – no debt. – prospect full amount
If you do what others won’t do for 5 years, you can do what others can’t for the rest of your life.
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Price Reductions
Market is shifting a bit, everything is not selling so quick. Look at the graph, larger inventory the same sales. What will that get us? More expired properties in the near future.
How to take advantage of that change?
Pick neighborhoods and preview property
Know inventory and have seen the properties that will be coming up as expireds soon
- Working on price reductions for your own listings:
- Prices reductions start when you are listing the property;
- Do what you say you are going to do and make sure the clients sees you did it;
- When you list the house send them a copy of the listing in the mls and link;
- Send the client a copy of the listings for all web sites and link;
- Send a copy of the ad we run on the property;
- Send copy note that door knocked 200 homes in their area if you did a flyer send them copy of that too.
- Think about it this way: You list the house and then they do not see you again for a few weeks and then you ask for a price reduction. What is the 1st thing they will think or ask you? “What have you done for me?”
- Don’t allow yourself to be on the defensive:
- When you do price reduction always meet when possible in person this is just like a listing apt you get a large enough reduction the property will sell.
- Take a copy of all the information you have sent them over the past few weeks
- Don’t assume they saw it, saved it, or remember it
- Go over the material piece by piece
Then review their motivation again. Where are you moving to, when do you have to be there, what is important about the move? Has anything changed since we last talked? Time frames, did they move up or back?
Then present the actives in the marketplace. It is the market that is changing. Remember the market is a snapshot in time
We can give a price today but if someone lists the home tomorrow for $25,000 less that changes what is going on in the marketplace and that is not the agent’s fault we are only sharing information about what is happening in the market.
