A Fresh Approach to Real Estate Rookie-hood with Jennifer Allan

I'm doing a little one-on-one consulting with a relatively new agent (who's gonna ROCK!) in Denver. We have similar personalities when it comes to our feelings about prospecting and business-building, so our conversations about prospecting always lead to some interesting A-HA moments for both of us.

Anyway, yesterday, my agent friend told me about a conversation he had with a like-minded career coach - one who specializes in matching personality types with business-building strategies. According to this coach (and my friend's score on the MBTI), my friend is capable of cold-calling and door-knocking for business, and he might even be rather good at it, as long as he feels he has something of value to offer.

HOWEVER, the coach cautioned him that even though he might be moderately successful in his cold-prospecting efforts, his personality type is simply not one that tolerates rejection well over the long term. That if he spends too much of his time and energy on prospecting activities that involve a steady dose of rejection, he'll eventually become depressed and discouraged. And probably won't realize why he's so lethargic and unenthusiastic about his career... and his life.

That makes perfect sense to me! I've been preaching for a long time now that there's no reason to spend your days doing something that you aren't comfortable with when there are perfectly acceptable alternatives. And if there AREN'T perfectly acceptable alternatives, maybe you're in the wrong business!

The good news is, of course, there are plenty of real estate prospecting techniques that don't involve much rejection. Oh, sure, rejection is a part of life, but that doesn't mean you have to put yourself in positions of pursuing it in the name of generating business if you don't want to. There's no need to "suck it up" or "just do it" if the sucking-up or just-doing makes you miserable.

Life's way too short for that. Figure out what you enjoy doing that brings in business. Do that. It really is that simple.

RELATED BLOGS: 
Be Yourself... Have More Fun... Sell More Real Estate! 
Stay IN Your Comfort Zone!
When to Venture Out of Your Comfort Zone... and when to stay in

It's Here!!!! 
The Sequel to Sell with Soul
Own one of the first 1,000 copies printed, numbered & autographed.
www.SWSStore.com

I remember when I was a brand-spanking new agent back in 1996, I contacted my previous human resources manager and offered to show relocating employees around Denver if they were looking for a rental. I figured, what the heck? After all, they're renters today; but maybe buyers tomorrow and besides, I could use the practice getting around town.

Good for me.

Just the other day, I talked with a new agent who is considering adding property management to his menu of services. I asked him why and he replied that he thought it would be a good opportunity to make contacts with people who will probably buy a home eventually.

Good for him.

But... here's where I'd like to see that reasoning tweaked just a little.

Yes, renters may eventually become buyers, and later, sellers. But... not because they're renters. They may eventually buy or sell a home because they're human beans.

This is another example of the laser-focused prospecting I cautioned against last week. Agents try to identify specific groups of people to target with their marketing and focus their efforts on that group. Other popular targets include first-time buyers, home-builders, divorcing couples and newlyweds. Some agents watch the obituaries in hopes of scoring a good listing or two.

And there's nothing wrong with identifying a group or groups of people you want to work with and customizing your approach to them! But you know what's cool about our business? Almost EVERYONE who crosses your path "may eventually buy or sell a home" -- whether they're renters, builders, first-timers or newlyweds. Just make it your goal to cross paths with as many warm bodies as possible as you go about your day! And remember to smile...

The SWS Mega-Toolkit
$89 

(You can buy the toolkit and get a copy of my new book freeeee - thru tomorrow)
Here are the details

It's here, it's here! My new book - it's here! I mean that literally - it's EVERYWHERE in my house. Boxes and boxes of books, everywhere I look. Yeah, it's kinda cool. Strike that. It's so darn freakin' unbelievably cool. I do a little happy dance every time I trip over my boxes and boxes and boxes! (But check back in with me in two weeks as I'm moving all these boxes and boxes to my new place!)

Here's an excerpt from the first chapter of the book... enjoy!

"If You're Not Having Fun Selling Real Estate, You're Not Doing it Right!
by Jennifer Allan

Chapter One 
"What's Fun Got to Do with it?"

Selling real estate can be a blast. All day, every day? Uh, no. There will be days you long for the stability and security of a steady paycheck and regular hours. There will be nights you lie awake tossing and turning, unable to forget that scathing criticism you received from your unhappy seller. You'll have weeks - maybe even months - when you have no idea where your next mortgage payment is coming from. That's definitely not fun... and, unfortunately, something a lot of us can relate to in recent times.

But you'll also enjoy the euphoria of successfully negotiating a tough inspection. Of beating out five other agents for that primo listing without budging on your commission. Of picking up the phone to find a $1.5M buyer on the other end who found you as a result of your blog. Of hearing from your new referred client that your mutual friend said you were "the best." Of being too busy to breathe and then, when you finally come up for air, realizing that you just had a $50,000 month.

Making gobs and gobs of money is fun. Getting steady streams of referrals is fun. Being a master negotiator is fun. Solving problems is fun.

Being an exceptional real estate agent is fun.

This book is going to show you how to have more fun selling real estate by being exceptional at what you do and making lots of money doing it. Yes, you can mix business and pleasure... and have a heck of a time doing it.

First, we'll revisit and expand upon the Sphere of Influence (SOI) business philosophy introduced in Sell with Soul, because having lots of friends is fun, even for introverts like me. Getting business and referrals from your friends is even more fun-more fun than cold-calling, door-knocking, mass-mailing and advertising combined! We'll discuss how the traditional Numbers Game is not much fun at all and how you can change the rules and beat ‘em at their own game.

Moving on, we'll jump into the car with your buyers and debunk most of the nonsense that real estate trainers have been pushing at us since time began. The way we've been trained to "manage" and "handle" and "protect ourselves from" our buyers is a bunch of hooey! Relax, enjoy your buyers, trust your buyers, respect your buyers and they'll be a joy to work with.

Next, we'll spend some time discussing some advanced strategies for marketing, selling and closing your listings, with a particular emphasis on pricing. Trust me, being an outrageously effective listing agent - that is, one who knows how to actually sell houses - is buckets of fun. Being good at turning your listings into paychecks gives you an intoxicating sense of power over your business.

We'll also discuss some of the finer points of being an exceptional real estate agent-covering topics such as win/win negotiating, the right use of systems and effective communication skills.

Finally, we'll wrap things up with some fresh ideas on time management, taking your career to the next level (or conversely, down a notch), firing your clients and much more.

.....................

Want one of your very own? You can buy it from me (numbered & autographed - www.swsstore.com) or at Amazon... I think the Kindle version is already available, or will be shortly.

You can also get one for free, sorta, if you participate in the book release party at my website - just go here for details.

Did I mention how darn cool it is to release a book?

Hope you were able to join us last weekend for the second Rookie-to-Rookie show at SellwithSoulLand... it was fun! In case you have no idea what I'm talking about, I held a free Teleseminar on Saturday where three newly-non-rookies (thanks Erin Deric, Kate Huntress and Melissa Brown!) shared their secrets for surviving their rookie years. We talked about things like how they financed the venture, what their biggest challenge was, where they spent money they wish they hadn't, how long it took to see a paycheck - stuff like that.  

We covered a lot of information, but as always, there were a few questions from the audience we didn't have time for. I promised during the show that I would post those questions in my blog, and solicit answers from my honored guest speakers, and of course... anyone else who'd like to chime in...

Here we go:

1. Do you have a web site?

2. Do you work primarily from home or from your real estate office?

3. Did you take any sales training courses held by the "guru's" of our industry?  If so, any recommendations one way or the other?

4. Any advice on how to choose a broker?   

5. If a new agent keeps a full time job in the beginning, any advice on if or how to disclose it to prospective clients? 

6. I work in an expensive market where the people in my sphere of influence can't afford to buy yet. Any suggestions on ways to reach other prospects? 

7. Any suggestions to generate leads if you're new to town?   

Okay, ladies! Have at it!

We read about Great leaders who have overcome tremendous obstacles to achieve... well... Great things. We hear stories of tippy-top producers who found themselves at some point living in their cars... but today make gazillions of dollars. Closer to (my) home, there are stories like Jack Canfield's where he had to peddle his idea for the Chicken Soup for the Soul book to dozens of publishers before one bit... and it became one of the best-selling books of all time.

Stories like these are supposed to be inspiring. But can I be brutally honest for a moment? I find them more intimidating than inspiring. Call me humble (ha!), but I'm just not sure I have what it takes to reach such Greatness and prosperity. Besides that, I've never lived in my car, which seems to be a pre-requisite for Greatness, although I have run out of gas a few times. Does that count?

I find far more inspiration in mediocrity. When I need to rev myself up to work on a chapter in my next book or prepare for an upcoming speaking gig, I seem to magically stumble upon someone in my industry who does their craft poorly, or at least, without Greatness. Many of whom are quite successful, I might add! Just the other day I was reading a fairly popular book about entrepreneurship (which is the topic of my next book) and was stunned at how superficial and obvious, not to mention poorly edited the material was. I mean, DUH. This stuff comes straight from Old School Self-Promotion 101 -- and the book was touted as revolutionary!

Anyway, after reading about half the book, I couldn't wait to get back to working on mine which I'd backburnered earlier this year. Heck, if this guy's stuff can be considered "revolutionary," to what heights might MY stuff climb?!

This approach could easily apply in a real estate career. Sure, there are a handful of real estate practitioners who are Great but the vast majority is, by definition, average. Many, of course, are less-than-average, but darnit, if they don't do okay!? Frustrating, isn't it?

Well, take that frustration and be inspired by it. Visit open houses on Sundays and observe how poorly many agents handle them - their signage, their (lack of) knowledge of the home and neighborhood, and their often-uncomfortable rapport-building skills. Eavesdrop on the other agents in your office and hear how unprofessional some of them sound while talking to prospects and clients. Preview listings in your area and notice how poorly they are priced and marketed.  Read through several MLS listings and see how many fields are incomplete and the descriptions dull. As you work your own deals, note how long it takes for other agents to return your calls, and how unfriendly or unprofessional their outgoing voicemail messages are.

I could go on and on, but I think you get the point.

If you, like me, are intimidated by the Great, look to the mediocre for inspiration. You can do better, significantly so, and in today's world of increasing mediocrity, you might find yourself among the Great!

Been watching a conversation elsewhere on the web about whether or not to put buyers in your car... as opposed to driving separately. While some of the comments are ridiculously snotty ("They can drive themselves!" or "Let THEM use their own gas!"), the most sincere objection seems to be that putting another warm body in your car creates liability for you.

We hear similar objections all the time to doing things that serve our clients. DON'T attend inspections! DON'T recommend mortgage brokers! Don't give any advice that might be construed as legal! Don't put buyers in your car! Blah blah blah.

Basically, in order to CYA to the best of your ability, you should, as one instructor put it - "stand outside and smoke" during most phases of a real estate transaction. To avoid liability, y'know.

Well, shoot, I don't buy it. My buyers and sellers pay me darn good money to be intimately involved with every facet of their real estate transaction. And I show up. Yes, to inspections. I get on the roof and join the party in the crawlspace. If I don't know three good inspectors, I recommend only the one or two I like. I write my own addendums that probably border on practicing law. And yes, I put buyers in my car.*

It's my job. And in my 13 years of doing my job, I can honestly say I've been richly rewarded for doing my job and only threatened legally once. By doing my job, I serve my clients, which not only leads to happy clients, but more paychecks for ME ‘cause my deals close!

I know what I'm doing. And I shall do it. Even if I risk being sued. This is a liability-ridden business. If you cain't take that heat... go find another kitchen to play in.

*Here's my opinion on putting buyers in my car:
In 13 years, I can count on one hand (okay, maybe two) the number of times I've ridden separately from my buyers. I usually drive, but if my buyer has a car-seat issue, I'll ride with them. The only times I've had a buyer follow me is if we're meeting at the house and only looking at a few others - then it just seems to make sense.

The time spent driving between houses is great bonding, rapport-building and information-gathering time. I can't imagine not having that time with my buyers as we're getting to know each other and figuring out what they want in a house. It also gives me the opportunity to demonstrate my expertise in the area and for them to ask questions which, assuming I can answer (!), builds my credibility.

I've shopped for houses in other markets and the agents always drove. I'm trying to imagine them leaving me in my rental car to follow them in an unfamiliar town... and I'm pretty sure I would think they were rude, antisocial, lazy or ashamed of their car. I certainly wouldn't think MORE of them if they made me drive myself.

That said, if I didn't feel safe with someone, I probably wouldn't want them in my car, but neither would I be working with them.

** Nothing written here should be construed as legal advice <grin>

Awwwwww... Janie, thanks for the plug! We'll be doing a show on this very topic late in the season of the Winter of Soul...

On Saturday, we kicked off what I hope will be a regular thang over at SWSLand. The first ever Rookie-to-Rookie Show where I invited four newly non-rookies (that is  - agents who are just out of their rookie year and survived to tell about it) to share their secrets for, well, living to tell about it!

I thought it was a fabulous show and the post-show feedback seemed to support that opinion. THANK YOU Kathy Jackson, Janice Styles-Hall and Sarah Taylor (and Erin Deric who had to bail last minute, but was there in spirit).

The show was a panel discussion where I posed several questions to my guests about their rookie experience. Questions such as...

We then went to the audience and did the best we could to address their questions, but, alas, time flew and we ran out of time. So, as I promised my standing-room-only crowd, we'll hit the rest of your questions here at Active Rain.

I've listed the unanswered questions below. I'll answer them from my experience here in a comment, and ask my guest hosts to do the same. Oh, and DO feel free to post your OWN responses - the more, the merrier!

• What can I do if there are no other agents in the office to go to for training or mentoring? I work in a small office where most agents work from home. How important is it to have other agents to learn from or can I just figure this out as I go and as questions come up? 

• If you really have no money for marketing, meaning you could afford about $100, what would you do? 
  

• What did it cost to sign with a broker? Training, books, tapes, leads and so forth. 

• How important are designations - ePro, GRI, etc? 

• Have any of you established a niche? If so, why that one? What experience do you have with absentee owners? <--one of two (the other military relocation) that I'm strongly considering... Thanks! 

• I have heard company provided template web sites don't work. Do you agree or disagree? 

• How large an area can one person cover? 

• Has anyone advertised on bus stops? 

• What are your feelings on new agents joining a team? How do you avoid being taken advantage of on a team as a rookie agent? 

• Did anyone work a full time 8 - 5 job while starting their real estate career? I find that all the classes, luncheons, meetings, closings etc. take place during the work day. 

• When you have a listing where the seller wants to "wait ‘til the market improves," instead of lower the price, what do you tell them? 

• Do the speakers think floor duty and open houses are really worth doing?

• How important is the brokerage firm you decide on? Ex: A well known firm such as Keller Williams or Century 21 verses a smaller unknown name? The smaller unknown name has such a better broker/agent split, less fees, etc. Would I be getting more leads from the larger firm or do you find your own clients at both firms? 

• What is one of the most important things you wish you would have known when first starting in the business? 

 Stay tuned for the date & time of the next Rookie-to-Rookie show...

Glad you stuck with me through the Monkey Series! You made it all the way to the punch line.

In case you just stumbled onto this series, you should probably read it from the beginning - starting here. Or not. Your call.

It's really easy for Old Fogie types (like me) to confidently proclaim that WE don't accept Monkeys that aren't ours to mess with, and WE (said in a deep, gravely voice) just tell our clients the way it is and if they don't agree; NEXT!

But it's not that easy, especially for newer agents who really aren't sure what their responsibilities are, and are not in the mood to NEXT anyone. So, here are some tips.

•       Don't be an objection-buster (aka Silence is Golden). When a client throws out objections, concerns or stumbling blocks, think before you speak. Often these objections, concerns or stumbling blocks will be HIS Monkeys, not yours. Just smile, nod and make an "I hear ya" noise, and let the client continue. If he wants your input, he'll ask for it directly, but until he does, just listen without offering solutions.

If, after your moment of golden silence, you realize that this IS your Monkey, go ahead and offer a response or solution. If you aren't sure, just write it down or commit it to memory to ponder later. You can always accept a Monkey after the fact, but it's much tougher to return a Monkey after you've accepted it prematurely.

•       Ask "What's Your Plan B?" as if you are not guaranteeing the desired outcome... which you aren't. I use this strategy with sellers who are being a little stubborn about pricing, accessibility or condition. I sweetly ask them what they will do if their home doesn't sell for the price they "need" or, at all. This subtly lets them know that while I'll do my best, I won't take full responsibility for their home selling - that's not a Monkey I'll accept.

•       A la Jackie Leavenworth, the Real Estate Whisperer - if a buyer or seller looks to you to solve a problem that isn't reasonably yours to solve (e.g. you give up some of your commission to put or hold a deal together), you can gently say something like "I've found that when a real estate agent wants to make a deal more than the other parties involved, it's not the right deal to make." (Jackie has a whole audio CD on negotiations that is superb - check it out at: http://www.coachjackie.com/jackiesproducts). If you like my stuff, you'll love hers.

So, what IS the punch line?

If you know what Monkeys are yours to carry... and which are not... and you respect the other party enough to let him keep his own Monkeys, you'll be a much happier, healthier and RESTED real estate agent!

The Epilogue - I have a very timely situation to share with you about two agents on opposite sides of a deal who both accepted Monkeys they shouldn't have. Stay tuned! 

Quick announcement before I head to waters bluer (Bahamas, here I come!)...

On Saturday morning, October 10th, I'm hosting a teleseminar with four newly NON-rookie real estate agents in their 2nd & 3rd years, who obviously did NOT become first-year statistics. They're doing quite well, thank you very much, even though they started their careers at a really lousy time.

The show will be structured as a panel discussion, with each guest honestly answering a series of questions about his or her rookie year (actually, they all happen to be female this round). They'll tell us what prospecting strategies worked... and which didn't. Where they spent money wisely... and where they threw it away. Their biggest success... and their most embarrassing moment.

Stuff like that.  

My guests are all readers of Sell with Soul, so their secrets of success probably don't include any cheesy closing tactics or aggressive sales pitches. And this will not be a brag-fest where each guest tries to out-shine the others with outrageous claims or trumped-up production levels. Nope. These are real people, with real challenges, frustrations and fears.

Anyway, if you're in your first year... or just feel as if you are... or if you're in charge of training the newer agents in your world... please join us! It'll be fun!

HERE'S WHERE YOU REGISTER FOR THE ROOKIE-TO-ROOKIE SHOW

Bon Voyage!