Luxury Clues

How to Become a Wildly Successful Real Estate Agent

Are you ready to become a wildly successful real estate agent? No matter what your level of experience is, here are the 8 key elements you will need to master to reach that goal plus where you can find the training to get you there: 

1. Traditional real estate sales strategies including working with Expired Listings and For-Sale-by-Owners, print marketing, open houses, and by referral strategies.

2. A proven listing presentation from the company that had the top production per agent in the United States and 50-75 percent market share in Beverly Hills, Brentwood, Bel Air, and Santa Monica that converts at up to a 92 percent rate.  

3. Proven scripts and strategies for defending your commission and for getting sellers to be realistic about their asking prices. 

4. A buyer strategy that allows you to find out what buyers really want to overcomes virtually all buyer objections.  

5. Powerful negotiation and offer presentation strategies. 

6. How to use Facebook, LinkedIn, Twitter, and Google Plus to make real money in your real estate business.  

7. A totally interactive program that guides you step-by-step on how to implement what you learn in your real estate business.  No need to sit through mind numbing videos or webinars.

8. A program that is completely flexible that allows you to learn in 2-5 minute segments, 24-7, plus has a 150 page Agent Manual.

(Demo the program, experience the interactivity, and learn five strategies to grow your real estate business right now)

Real Estate Dough Experienced Agent Training Online Demo

If you're ready to learn how to become a wildly successful real estate agent, Real Estate Dough(R) Online Training is exactly what you need to skyrocket your real estate business. Here's a brief synopsis of all the topics covered in this exciting new 14 Session, highly interactive, online program

Session #1: Discover Your Personal Recipe for Success includes:

A.      The new model for 21^st Century real estate that will increase your profitability.

B.      How to create a positive mindset.

C.      The secret to attracting great clients.

D.      The Five Laws of Stratospheric Success.

Session #2: Unlock the Secrets of Building Connection, Trust, and Credibility includes:

A. How to create a collaborative business that creates connection, builds trust, and generates referrals.

B. The do’s and don’ts of asking the right questions.

C. How to master key market statistics to understand trends, build credibility, and close more transactions.

D. How to track market shifts and turn them to your advantage. 

Session #3: Negotiate with Style includes:

A. How to use spoken language and body language to communicate more effectively.

B. How to recognize your core behavioral style as well as how to work most effectively with clients whose style differs from yours.

C. How to determine if my clients are visual, auditory, or kinesthetic and how to best work with them. 

Session #4:  Recipes for Marketing Success includes:

A. How to create an effective brand for your real estate business.

B. How to shift from doing “feature” marketing to using “benefit” marketing that taps all five senses.

Session #5: The Tried and True Steps of Lead Generation includes:

A. Which traditional marketing strategies work well as well which ones to discard. 

B. How to implement “give-to-get” marketing to attract and convert more leads in your business.

C. How to conduct an effective open house.

D. How to build a strong referral database using traditional marketing strategies.

Session #6: Web Marketing: the Basics includes:

A. How to create and successfully brand your website.

B. Strategies to successfully motivate web visitors to give you their contact information.

Session #7: Advanced Web Marketing Strategies includes:

A. How to apply the four steps of online lead generation.

B. Strategies to optimize your website for better search engine placement with photos, key words, and metatags.

C. How to use lifestyle marketing to reach the niches you serve.

D. Ways to track and monitor the analytics on your website.

Session #8:  Blogging: As Simple as 1-2-3 includes:

A. Create an effective blog including proven strategies and mistakes to avoid.

B. Super easy blogging ideas including video, photos, and engaging people in your community.

C. How to use your blog to gain higher search engine placement and build your overall business.

Session #9: How to Create a Powerful Social Media Presence includes:

A. How to use the Five Laws of Stratospheric Success to build your social media presence.

B. How the various social media differ and how to use each platform to build your business.

C. How to maximize ROT (return on time) on the various social media sites.

Session # 10: Social Media Part 2 includes:

A. How to use Twitter to build your real estate business.

B. How to use “best of class” Twitter tools for prospecting and building a referral database.

C. How to use the basic features in Google Plus.

D. How to monitor and protect your online reputation.

Session #11 (Part 1): How to Make More Buyer Dough includes:

A. How to conduct an effective Buyer Interview that builds connection and lets you close after every showing.

B. How to obtain the Buyer’s commitment to work with you exclusively.

C. How to recognize buying signs.

D. How to overcome client objections by asking closing questions.

Session #11 (Part 2): Make More Buyer Dough (part 2) includes:

A.   How to show buyers the benefits of buying now as opposed to waiting.

B.   How to counter the most common buyer objections.

C.   How to close more transactions, even when there are challenges with the financing.

D.   How to use interest rate buy-downs to keep your transactions together.

Session #12 (Part 1): Make More Listing Dough in Any Market includes:

A. The advantages of doing a Listening Consultation rather than a Listing Presentation.

B. How to create effective traditional and digital Pre-Listing packages.

C. The Eight Key Listening Consultation Questions

D. A simple strategy to earn more full commissions.

Session #12 (Part 2): My Property is Worth More includes:

A. How to market statistics to persuade sellers to realistically price their property and to predict market trends.

B. Strategies to cope with declining prices

C. Five top producer strategies to sell your listings more quickly in any market.

Session #13: Expired Listings includes:

A. Convert expired listing leads into signed listings using an Expired Listing Premium Marketing Plan.

B. How to overcome the key objections you may hear from the owner of an expired listing.

C. Key questions to ask owners of expired listings.

D. How to use Web 2.0 strategies to locate expired listing leads.

Session #14: For-Sale-by-Owners includes:

A.  How to prospect for and convert For Sale By Owners (FSBOs) into signed listings.

B.  How to overcome the most common FSBO objections.

C.  How to persuade FSBOs to work with you, even if you don’t have a buyer for their property.

D.  How to use 800 Call Capture to convert more FSBOS into signed listings. 

If you haven't done so already, check out the demo right now:

Real Estate Dough Experienced Agent Training Online Demo

Or to order, just $377 with a money-back guarantee if you're not satisfied.

Order Real Estate Dough(R) Experienced Agent Training Now

Just set up your account, pay (Digital Chalk is our provider) and start learning now, so you can truly be a wildly successful real estate agent tomorrow.  

Posted by Bernice Ross

Print Marketing Is Alive and Well

Many agents and brokerages today have decided to limit or eliminate their print marketing budgets. In terms of the luxury market, however, high quality print marketing is not only alive and well; it is a necessity.

What happens when you cut out your print advertising? It can be a costly mistake as the folks at L.L. Bean learned. Because of the Recession, they cut back on their print catalogues. The result was a major drop in sales. When they decided to increase the number of print catalogues that they mailed, their sales took off.

The Case for Print Marketing

I recently interviewed Rick Goodwin, the Publisher of Unique Homes Luxury Media. Tthe luxury real estate market in the United States continues to see strong growth among foreign investors, especially among clients from Asia and Europe. Goodwin argues that quality print publications “Put you in front of people that you need to know, but don’t know yet.” This is particularly true in the international luxury marketplace.

In case you’re wondering who is reading high-end print advertising, Goodwin shared two different studies that showed that the ultra affluent (those who make $500,000 or more per year) read an average of 8.2 luxury print publications per month. Of this group, 20 percent spend 11 hours per week reading print newspapers and luxury magazines. Some of the most widely read publications include the Wall Street Journal, the New York Times, the Robb Report, Wine Spectator, and Luxe Interiors.

Stand Out as a Luxury Specialist

According to Goodwin, when it comes to representing luxury listings, “high quality print advertising is still a strong listing tool. Print provides a way for you to make a name for yourself outside your local market. You need a media mix that combines both print and online.”

Because so many agents have stop using print publications, print has become an important way to differentiate your premium marketing services from those services provided by your competitors.

Granted, there are some limitations with print as Goodwin explained:

“Advertising doesn’t sell houses; Realtors do. If you’re expecting print to generate the buyer for your listing, you will probably be disappointed. What print does do, however, is that it allows you to consistently demonstrate the quality work that you do on behalf of your sellers. It reinforces the fact that you are a high end Realtor.” 

Create Effective Print Marketing Materials

In terms of using print marketing effectively, your luxury listings must be beautifully staged. Goodwin says high quality photos are also a must. Attention to detail is also critical. If at all possible, hire an architectural photographer to show the house to its best advantage.

To determine which photo(s) to include, ask your sellers what was it about the house that motivated them to purchase it. For example, if it was the family room with the view out to the pool, chances are that the new buyer will probably respond well to the same features. On the other hand, if the house looks beautiful at dusk with the lights on and the outdoor kitchen lit up by the swimming pool, this will create more of a mood shot. In both cases, this approach will allow your photos to stand out as compared to the typical front shot of the property that most agents select.

High Quality Photos Require High Quality Copy

It’s also equally important that your ad copy match the quality of the photos. This is an area where many agents miss the mark. Goodwin says,

“The big sin when it comes to marketing luxury listings is using your MLS descriptions as your ad copy. MLS copy is just a list of data. Effective copy is more than a list of features. Instead, it complements the photos in terms of creating a sense of what the lifestyle is like for the new buyers.”

Goodwin suggests that one way to do this is to “Put yourself into the action of enjoying the property. How would you interact with this house if you lived there?”

 For example, if you were marketing a house that was built 200 years ago you might say, “For ten generations, the owners of this property have experienced the graciousness of this classic Colonial home.”

Costs

Depending upon the publication, the distribution of the ad, as well as the size, you can obtain a quarter page ad for your luxury listing from $750-$1,000. Half pages can run from $1,000 up and full pages from $2,000 and up.

Is It Worth It?

Goodwin says, “Realtors are known by the properties they work with and the quality of marketing that they provide.”

Posted by Bernice Ross, CEO, RealEstateCoach.com

 

 

Three Easy Ways to Retire Your Fax Machine

Are you still running documents through your office or personal fax machine? If so, it's time to shift to going paperless, especially if you are working in the luxury market. The first place to begin is with Digital signatures. 

1. Move to Digital Contracts

The process is pretty simple. In most areas, your Board of Realtors or company has their forms through  an online company such as Zip Forms. To obtain Digital signatures, you will normally go through a company such as Docusign or Dotloop. The process is very simple and it beats having to lug around all those contracts and disclosures. With the advent of tablet PCs, you can now do everything on your tablet. This is a huge saver of both time and effort. 

2. DocuSign Ink App

I LOVE this app. Once you download it, use your smart phone to take a picture of your signature and initials. Next, you upload these to the DocuSign app. Suppose now that someone has brought you a paper offer. You could drive all the way back to the office to fax the offer to your clients. A better approach however, is to take a photo of each page. Your clients can sign using their Docusign account (which is free for your personal signatures.) All you have to do is drag and drop their signature on to the document. It's super easy and best of all, a tremendous time saver.

3. Move Your Documents to Cartavi

Cartavi allows you to completely get rid of your fax machine. You can access all of your files from your phone, tablet, or laptop. Like Dropbox, Cartavi provides document storage. It also does much more. Cartaiv allows you to digitally fax your documents, to archive these documents, and to create “transaction rooms” where you can share transaction data. 

The system tracks and notifies you when any one opens any of your documents. It creates a detailed  the digital paper trail for the entire transaction. This allows you to respond to questions and issues in a more timely matter. There is no charge for the basic version of the program that includes up to 1 GB of storage space and three unbranded transaction rooms. The pro program is $10.00 per month. 

If you want to stand out from the old-fashioned agents who still rely on paper, ditch your fax machine and step up to using Docusign and Cartavi (which work together). Your clients will be intrigued and you can bet you will have a much better chance of turning that listing lead into closed business. 

Posted by Bernice Ross, CEO, RealEstateCoach.com and Co-founder, RealEstateCoachRadio.com--the place you go to make Real Estate Dough®!

 

 

How to Use the iPad to Convert More Luxury Listing Leads into Signed Listings

Chances are that if you're a luxury real estate agent, you already own an iPad. If not, you're no longer competitive in terms of the top agents who rely on this powerful tool and whose clients expect you to up-to-speed on how to use this tool to market their listings. 

One of the most confusing issues about using the iPad are exactly what apps you need and more importantly, how to use them. You really don't need hundreds of apps--a select few will do. 

 If you want to learn exactly what apps you need to becomen the dominant agent in your area as well as being trained on how to use them, please join me for a very special free webinar on February 28, 2013 at 2:00 p.m. Eastern (1:00 p.m. Central, Noon Mountain, and 11:00 a.m. Pacific) called, Use the iPad to Unleash Your Listing Productivity.

I will be joined by Garry Wise, the paperless agent specialist from the Good LIfe Team. Garry will show you the exact apps they use at the Good Life Team and then digs down in the nuts and bolts on how to use them. Moreover, if you are thinking about taking your luxury real estate business paperless, this session will show you how to to do it. 

What makes Garry and Krisstina Wise the experts on using the iPad in your real estate business? Inman News named The Good Life Team as the most innovative brokerage in the United States in 2010. Apple Computer selected Krisstina and Garry as their spokespeople for how to use the iPad in the real estate industry.

You can register for this powerful webinar at: Ipad Listing Productivity Webinar.

If you would like to get a taste of what this webinar will cover, tune in this week at RealEstateCoachRadio.com and hear five tips to get you started: 

*Monday: Remember Everything on Evernote

*Tuesday: A Super Simple Way to Organize Your CMAs and MLS Docs

*Wednesday: Customize Your Listing Presentations in Just Minutes

*Thursday: Collaborate on Cartavi

*Friday: iPad Finger Signing Simplified

 Again,Register at: Ipad Listing Productivity Webinar.  We expect attendance to max out quickly and wanted to give our blog and newsletter subscribers a head start on the enrollment for this webinar. Don't wait because we expect to max out.

Register today because you deserve to get those listings, not your competition!

Posted by Bernice Ross, CEO, RealEstateCoach.com

 

Are You Ready to Stand Out from the Wanna-Be Top Realtors?

I'm very excited to be part of an exciting new initiative that is going to create a profound change in how consumers select a Realtor to represent them. This new initiative is called The Top Five in Real Estate.  

The Top Five in Real Estate is a membership group that requires all members to meet five requirements known as CREED. The five elements of CREED are: 

1. Community commitment. You must be someone who is dedicated to helping make your community a better place to live or someone who is actively involved in helping others. 

2.   Results: You must be in the top 10 percent of agents either nationally (approximately $100,000 in gross commission income) or the top 10 percent within your Board of Realtors.

3.  Education: Has completed more than just the minimums by obtaining NAR designations, completing a program like our Real Estate Dough Experienced Agent Training Program, or other educational programs designed to raise the bar in terms of the agent's professionalism. 

4. Experience: Either three years in the business or 70 closed deals. 

5. Digitally enabled (i.e. tech savvy) so that you are able to serve your clients regardless of their level of technological sophistication. 

What's especially powerful about this network is the quality of the agents and the coaches who are already involved. Members will receive 24 webinars from the top speakers and coaches who are part of this network. These people are the best of the best. There are a host of other benefits as well. 

The most important benefit, however, is that Top 5 is going to reach out to consumers. Let's face it, most consumers don't know what CRS, GRI, or CIPPs are. If you are a member of "Top Five in Real Estate," it's pretty clear that you are head and shoulders above the other agents. 

While most agent rating sites have little, if any traction, being a Top Five member will become a simple way to market yourself to both buyers and sellers as someone who subscribes to CREED and has a proven track record of success. 

To see if you qualify for Top Five, visit this site and fill out the survey. You will receive an immediate answer. 

Here's to seeing you at the top of your game and on top with Top Five!

Posted by Bernice Ross, CEO,RealEstateCoach.com  

 

Luxury Clients Deserve Face-to-Face Offer Presentations

I recently had a conversation with an agent who will close $20 million this year. Her attitude about presenting offers face-to-face on luxury properties was pretty surprising:“I’m not a go-for.”Granted that she's busy, but her luxury clients typically pay $20,000 or more in commissions on every deal she does. When someone is paying this much, don't they deserve more than just an email or fax to present their offer or counter offer?

Face-to-Face Makes a Comeback

With the advent of Skype and Google Hangout, being face-to-face (either in person or digitally) has never been easier. One of the best ways to stand out from the competition is to present all of your offers in person. While some clients may not appreciate having to face a tough agent who is a strong advocate for their clients' offer, this is exactly what your clients hired you to do. You need to be as forceful as possible about helping them to achieve the best possible price for the property they are buying or selling.

The reason this is so important is that no one is better qualified to represent your clients' position than you. When you represent the buyer, the listing agent has a fiduciary duty to help the sellers get the highest possible price. When the listing agent presents your offer, your buyers are the ones who suffer. 

Even if you can't be physically present with the clients, there's virtually no reason you cannot meet with them face-to-face virtually by using Skype or Google Hangout. 

Missing Communication

When you present your offer via fax or email, you only have about 10 percent of the feedback that you would have if you were face-to-face. Spoken speech carries about 7-10 percent of our communication. Another 25 to 30 percent is contained in your inflection, intonation, and rate of speech. In addition, your body language carries a whopping 60 percent of the data that your brain interprets in order to determine what the other person means.

If you present your offers with email or fax, you are losing over 90 percent of the information that could help you close the deal. For example, if there is a block in accepting your buyers' offer, is it coming from the listing agent or the sellers? The sellers' body language will generally alert you to what points are negotiable vs. which ones are not negotiable. Are the sellers highly motivated because they are being transferred and need to move now? If you rely on fax or email, you will be unable to answer these questions. In contrast, being face-to-face greatly increases your probability of identifying the road blocks and then overcoming them. 

Luxury Agents Go the Extra Mile 

The best luxury agents treat their clients as would a concierge at a five start resort. Some people refer to this approach as "white glove" service. Be as forceful as possible with the listing agent about presenting your offer in person or digitally via Skype or Google Hangout. If the listing agent objects, have your buyers draft a letter to the seller requesting that you (their agent) personaly present your offer. Remember, if you rely on the listing agent, he or she is looking out for the seller's interest--not those of your buyer. 

If you really want to raise the bar, present your counteroffers to the buyers. Here's why: First, a huge proportion of real estate agents have poor negotiation skills. In fact, over half of all agents haven't even done one deal this year. Second, when you meet with the buyers you are the advocate for your sellers' position--not the buyers' agent. Finally, your extra level of service provides a top drawer quality approach that well-heeled clients expect.

If you want to stand out not only from the run-of-the mill regular agents as well as other luxury agents, what better way to do it than by presenting your offers and your counteroffers face-to-face?  

Posted by Bernice Ross

Get the first ever real estate sales training designed for delivery on your mobile phone or tablet at ListenandLearnRealEstate.com.  Order our Premium Membership Now for only $97.00 per year and receive over 300 audio training sessions that will play on your smart phone or iPad, 102 Premium articles, four webinars, plus 250 of our RealEstateCoachRadio shows over the next year. Order today to get the edge you need to dominate your market tomorrow.

 

 

 

 

Get Prepared Before the Next "Sandy"

Hurricane Sandy has once again driven home the point about the importance of being prepared for a major disaster. Whether it's a house fire, a flood, a hurricane, tornado, or an earthquake, no one is immune to a loss of their home. The question is how to best be prepared for the disaster than can rock your business and your personal life.

Sadly, most people put off preparing for a potential disaster. They think they will have time to prepare, but in many cases they do not. Two weeks ago, would you have thought that half the population of Manhattan would still be without power and that the residents of Staten Island would be dumpster diving for food?

I was evacuated from my home twice in L.A. due to brush fires. I had a listing where 15 homes out of 280 survived one of the major Malibu fires. I have personally experienced three major earthquakes, including the 1994 Northridge Quake where the epicenter was just 6 miles from the college where I taught. I never expected a brush fire here in Austin, but last summer close to 50 homes burned just across the canyon from where we live. I wasn’t prepared and was frantically shooting a quick video of our contents as the ashes landed on our roof and back patio. Our neighbors across the canyon had less than 5 minutes to get out of their homes. 

Please take the list below and turn it into a marketing piece for your clients. If you belong to a Homeowner's Association or are active in your local community, be the person who helps your friends and neighbors be prepared for the unthinkable. A fire or other disaster can strike at any time. Here are the key questions to ask to see if you are adequately prepared. Do you have…

1. Enough food and water for at least three days for an evacuation or two weeks if you can stay in your home?

The Red Cross recommends at least one gallon of water per day per person and easy-to- prepare food items that do not require refrigeration. Canned goods, dehydrated fruits, nuts, as well as vacuum-packed foods are good choices. Also, be sure to remember baby formula, bottles, or any other special needs anyone in your household may have. Stock up now. If you don’t use the food, you can give it to your local food bank and take a tax deduction. Furthermore, be sure you have knives, a pair of scissors, as well as an old-fashioned can opener that doesn’t require electricity. Don’t forget to include eating utensils for each person as well.

2. At least $500-$1,000 of cash on hand in case you are unable to access an ATM and have to evacuate to a safer area.

If the power is out, chances are that your Internet service may be down as well. This means that your credit cards and your local ATM will probably not be working either Even if food and other supplies are available after the disaster, you may have to pay cash.

3. A First Aid Kit, medications, and personal hygiene items for each member of your household.

A smart way to prepare these items is to pack a backpack for each member of your household including your pets. If someone in your household requires refrigerated medications, make sure you have an ice chest with cold packs ready to go. Be sure to include glasses, hearing aids, contact lenses, syringes, or any other necessity. For children, include games and activities to keep them occupied. Also, remember to include personal hygiene items including diapers, soap, shampoo, baby wipes in case there is no water, pillows, and blankets or sleeping bags. For your animals, include a collar, leash, ID tag, carrier, plus food and water bowls.

4. A way to keep the lights on

While a generator may not be a practical option, a flashlight, candles, matches, and extra batteries are within everyone’s reach. Even if the power is out, you can use a solar charger for your cell phone or a battery charged recharging station. It’s also smart to have a battery-powered radio or crank radio so you can stay on top of how to respond while the emergency is taking place. In terms of your computer or other devices, be sure you have all the cables, the charger, and any other hookups necessary to run your computer from a remote location.

5. Your personal documents stored in a single place

The Red Cross recommends that you pull all critical personal documents together in one place so you can quickly grab the package if you need to evacuate on a moment’s notice. Items to include are proof of address, insurance policies, medical ID cards, credit cards, deed/lease to your residence, passports, birth certificates, plus pertinent medical information and medications. To be doubly safe, scan these documents and back them up in the cloud.

6. Specialized survival items for your home

Surgical masks can be a necessity after a major quake or building collapse. In the Northridge quake, a number of people contracted a serious lung condition that was triggered by the spores in the dust that the quake stirred up. It’s also smart to have sturdy shoes, rain gear, plastic sheeting, duct tape, and household bleach for water purification.

7. Your items you can’t replace stored where you can access them quickly

Whether it’s family heirlooms, junior’s golf trophies, or grandma’s favorite quilt, decide which items are irreplaceable and have those stored in a single place where you can quickly reach and pack them if need be.

8. A plan for being in touch or going to a safe place

It’s smart for your household members to have two or three options as to where they can go in an emergency. The Red Cross also offers a way to notify friends and loved ones through their organization, even if the power is out.

Plan to Help Others

To make sure that your friends, clients, and acquaintances are prepared, you can send out the Red Cross guidelines for disaster preparedness as a prospecting tool. After the Northridge Quake, our Homeowner’s Association put together earthquake preparedness packages for every homeowner in our subdivision.

The biggest challenge here is procrastination. The smart move is simple: prepare now and advise your cilents to do so as well—don’t wait--no knows where the next "Sandy" will strike.  

Posted by Bernice Ross

Get the first ever real estate sales training designed for delivery on your mobile phone or tablet at ListenandLearnRealEstate.com.  Order our Premium Membership Now for only $97.00 per year and receive over 300 audio training sessions that will play on your smart phone or iPad, 102 Premium articles, four webinars, plus 250 of our RealEstateCoachRadio shows over the next year. Order today to get the edge you need to dominate your market tomorrow

The Sweet Secret to Keeping Your Real Estate Deals Together

A number of years ago when I was Executive Director of Training for Jon Douglas Company in California, one of my regional trainers had an unusual strategy that worked really well to keep her deals together. 

As a rule of thumb, about 95 percent of all transactions have problems serious enough that at least sometime in the transaction, it looks as if the deal will not close. About 90 percent of these cases do close. Consequently, it's important to explain this fact to your clients. To make this really effective, here's the sweet twist.

When you place your clients' property under contract, give each of your sellers a small box with four high quality pieces of chocolate. Hand each of your clients a piece of the chocolate and say:

The chocolate is to remind you how sweet buying/selling this property is today. However, about 95 percent of all transactions have serious issues that come up that cause everyone involved in the transaction to believe that the deal may not close. Ninety-percent of the time, we will work out the issues and your transaction will close.

Consequently, I would like you to keep the other three pieces of chocolate. If something goes wrong, I'm going to ask you to eat a piece of the chocolate as a reminder of how great you felt today when you put your property under contract and to remind you how sweet it will be when the property closes. Once you finish the chocolate, we will begin working on how to make sure that your property will close. 

While your clients will probably laugh at this approach, by having them eat a piece of chocolate prior to going over what has gone wrong in the transaction, they flood their brains with beta endorphins from the chocolate. Combined with the sugar, they actually feel good. The result is they will be much more likely to work towards a solution rather than becoming angry and cancelling the transaction.

Best of all, if you get through the transaction without using any chocolate, they will definitely appreciate how good you both you and the chocolate really are!

Posted by Bernice Ross

Are you interested in the first ever comprehensive real estate sales training available on your smart phone or tablet computer/iPad? You can now get your training on the go with our brand new membership program from RealEstateCoach.com. Get 2 new articles every week, 4 training webinars per year, over 300 8-10 minute audio training sessions for your smart phone or iPad, plus all 250 of our shows from www.RealEstateCoachRadio.com. It's only $97.00 per year! Visit ListenandLearnRealEstate.com to sign up now. Money back guarantee if you're not completely satisfied!

 

 

Become the Luxury Real Estate Hyperlocal Specialist

For years real estate professionals have always said, “All real estate is local.” More than ever, that is true today, especially if you are in the luxury market. The secret to dominating your market as well as obtaining great search engine placement is hyperlocalism. Many top-producing luxury agents have reached the top by narrowly focusing on a single area. In fact, John Aaroe, the founder of one of the leading luxury firms in the country, once said,

"When I first started in the business, I tried to help anyone who wanted to purchase a luxury property. I didn't start making any serious money, however, until I decided to specialize."

Of course, it didn't hurt that he decided to specialize in Bel Air, the priciest area in Southern California with perhaps the exception of Beverly Hills. 

How can you take advantage of the trend towards hyperlocalism? Here are some important tips.

1. Choose a company that has a strong luxury presence in your area. 

While it's possible to list a property when you are with a non-luxury brand, the wealthiest clients expect white-glove service from both their agent as well as the company that represents them as well. 

2. Select a URL that identifies your hyperlocal luxury niche.

For example, you might obtain LuxuryWilshireCondos90024.com. This URL includes the street address, the city, and the zip code. This fits with what Oodle.com has shown how people search online--by street, city, and zip code. In this case, anyone who searches for Wilshire Blvd. Condominiums in Westwood California (zip code 90024) would normally see your website displaying at the top of the page.  

3. Make your site a destination site  

Discover what matters to local residents in terms of their lifestyle. This is absolutely critical. To illustrate, if your area is home to a large number of young families, provide resources designed to capture their attention. This could be an upcoming puppet show, swimming lessons for toddlers, or a holiday “parade” where the kids decorate their bikes and ride through the area together.

4.  Use video to build search engine ranking

The search engines place a premium on fresh content. Video, espcially on Google because of their ownership of YouTubes, ranks the most highly. To strengthen your site, interview local business owners about what they do. Keep your focus on luxury by focusing on the high end brands and stores. Y The point is to be a resource for the lifestyle people enjoy while living in their homes—not just the place to go to buy or sell property.

By following these steps, you will become the go-to expert for your luxury market niche. This results in higher search engine placement and more traffic to your site. Given all the great resources that you provide, you will also convert more luxury leads as well. 

Posted by Bernice Ross

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Are You Worth a $120,000 Commission?

One of the biggest mistakes that most Realtors make is trying to compete on price rather than value. When someone asks you to discount your commission, what that means is that you haven't demonstrated to that client that you are worth the commission you charge. This is particularly an issue in the luxury real estate market. For example, if you take a $2 million listing at 6 percent, that seller will pay $120,000 in commission. 

The question is what can you do to illustrate your value. Here are some key ideas

1. First, you must have a world class marketing program. This means hiring an architectural photographer who knows how to shoot your listing to its best advantage. It also means hiring a professional videographer to make a video of the property. As part of this process, it would also be smart to have a video shot illustrating the lifestyle. This video is one of the my favorites and is one of the best illustrations on how to use video to market your listings. 

 

2. International marketing campaign

If you're not using Immobel.com to translate your listings into 13 different languages, it's important that you add this to your marketing. Many Multiple Listing Services already provide this as part of their value proposition. Immobel.com also has a new platform called Real Buzz which allows users to have visitors outside the U.S. see their listings in their native language. You can also chat in real time with someone in Japanese, Portuguese, or any of the other 11 languages that they support on Facebook. (The link shows you what this looks like for members of the Sarasota Association of Realtors.) 

3. Concierge Services

Many luxury clients want a turnkey experience. In other words, they write the check, you take care of everything else. Part of this process is knowing where the best mechanic is for their luxury cars, where to get their pets groomed, as well as where the best food is in town. 

4. Make their showings unique

While you may have a beautifully staged house, you can take it to the next level by making your showings special. Discover what type of music the buyers like and have that playing as they walk through the property. Purchase some high quality chocolate truffles and if they buyers drink, serve it with a small glass of a great cabernet or champagne. 

5. Discover what they collect

Many agents don't realize that a lot of wealthy people are into collecting. When you begin working with someone, discover what they collect. If it's cars, you're going to need a house with a lot of garages. If it's art, they will probably want a house that is extremely secure as well as one with lots of space to display their collection.

6. Make sure you have the best professionals working for you

It's extremely important if you're going to earn that big commission, that every touch point in the transaction process is top notch, whether it's the termite inspector, the plumber, or anyone else. Be vigilant about maintaining the quality. 

7. Up-to-date technology

If you're going to work the luxury market, you need to have a smart phone, a tablet computer/iPad, as well as the most up-to-date apps including transaction tracking, online marketing apps, Evernote, digital signatures. In fact, you should probably be paperless, especially if your target market is a younger demographic. 

Posted by Bernice Ross

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Take Time to "Work On" Your Real Estate Business--Not Just "Work In" Your Business

Michael Gerber in his book The E-Myth Revisited, distinguishes between "working in" your business vs. "working on" your business. "Working in" your business refers to delivering your real estate services. "Working on" your business means taking time away from your business to relax and plan. In fact, many of the best ideas on how to grow your business come at times when you are not working in your business.

For example, have you ever had a nasty transaction problem and the answer on how to cope with it came to you when you were taking a shower? This is a simple example of how that process works.

When you look at people who have major leadership positions, you will see that they take time away from their responsibilities. Most of the U.S. Presidents have taken regular time at Camp David. While the job follows them no matter where they go, being away from the White House and the D.C. hustle and bustle allows them the time to consider decisions and make plans in a less harried environment. 

The bottom line here is that there are hundreds of things that you could be doing for your real estate business. It's easy to become trapped in the day-to-day operation of your business. Yet the success or failure of your real estate business is really tied to how well you plan as well as how well you execute that plan. If you don't have a plan, here are a couple of quick suggestions on how to create a daily plan.

1. Each day, the number one thing to complete on your "plan" for the day is: "List or Sell a House Today!" While you may not always achieve this, stay focused on the activities that will lead to this results. 

2. Identify the three most important tasks that you must do today. Complete those before you do anything else. 

3. Prospect for new business every single day.

In terms of your long term plans, take time to spend at least one hour away from the office (and preferably a half or day or more) to look at what is working in your business, which listings need to repriced or released, which buyers are most likely to purchase, which buyers need to be fired, where you are in terms of achieving your goals, and which clients are most likely to transact.

The key point here is to take time on a regular basis to "work on" your business, not just "in" your business.

If you liked today's blog post, subscribe to our free newsletter on our RealEstateCoach.com website.

Are you ready to upgrade your social media and web marketing skills? If so, check out our 7 minute demo of our new 14 session online Real Estate Dough® Experienced Agent Online Training program that covers blogging, web and social media marketing, as well as the best of the tried and true strategies you need today to master how to be a wildly successful real estate agent tomorrow.