Welcome to RealClues The Weekly Newsletter for Real Estate Professionals www.RealEstateCoach.com–The Place You Go to Make Real Estate Dough(tm) ™ Monday, December 29, 2008 No. 356

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Want THE #1 best selling book at this year’s NAR Convention–if so, get your copy of Real Estate Dough(tm), Your Recipe for Real Estate Success today to start making more bread tomorrow! (www.RealEstateDough.com)

Table of Contents 1. CoachingClues: Gary Keller’s 12 Step Program for Real Estate Recovery 2. Welcome Notes: Happy New Year! 3. Bonus CoachingClues: What Consumers Want in an Open House 4. Create a Better Life: Secrets to Standing Out from the Crowd–Don’t be a Boring Potato! 5. Positive News for Positive Realtors(reg): Chicken Little, the Sky is Not Falling 6. This Week at www.LuxuryClues.com: *Start Your 2009 Real Estate Business with a Clean Slate *The $20,000 dessert plates at this year’s Christmas dinner–What’s In Your Closet? 7. Featured Products: Give Yourself the Gift of More Business in 2009 8. New at www.ListenandLearnRealEstate.com for December 2008 9. Increase Your Production with Personal Coaching 10. Give Us Your Feedback on this Newsletter 11. How to Subscribe/Unsubscribe

1. CoachingClues: Gary Keller’s 12 Step Program for Real Estate Recovery Gary Keller, author of the new book “Shift” and Founder of Keller Williams, is no stranger to market downturns. He started his real estate career in the 1980’s recession and started his franchising operation during the recession in the 1990s. In his recent seminar at NAR, Keller recommended 12 different ways to put your business on the road to recovery.

1. You can run towards or you can run away from the market Agents who are succeeding in today’s market are embracing short sales, foreclosures, and REOs rather than running from them. If you limit your business to only doing what has worked in the past, you will soon be out of business.

2. Do what you don’t want to do The difference between those who are average and those who have stellar success is simple. Average people do what they want to do. Massive success comes to the few who are willing to do what they don’t want to do.

3. The law of equilibrium Keller endowed Baylor University with $5 million to do research on various aspects of the real estate industry. Baylor’s research shows that the amount of commission per agent remains the same regardless of what the market does. In other words, a heated market might have 5,000 agents. In a downturn, the number of agents might drop to 1,800. The average commission per agent, however, remains the same.

4. Profit is determined by expenses, not revenue Most real estate professionals focus exclusively on the amount of income generated. The quickest route to profitability, however, is to slash expenses.

5. Every dollar spent must generate a return For each dollar you spend in your business, it must return $1.00 plus a reasonable return. For example, if you’re spending $5,000 in print marketing, ideally it would yield at least $20,000-$30,000 in closed business.

6. The fastest way to deal with this market is to get educated Training and education is the first place many people cut in a downturn. The secret to success in this market is to focus constantly on learning. This gives you a huge competitive edge against those who cut back on training and education.

7. The #1 ability of top performing agents is lead generation There are plenty of agents who are good at paperwork, showing properties, going on presentations, negotiating deals, and handling transactions problems. None of these skills matter, however, until someone generates a lead. Bottom line–lead generation must be your primary focus every single day. While you can delegate other activities, never delegate your lead generation activities.

8. Talent is overrated Some people seem to be born to be in sales. While it’s true that certain behavioral profiles are more suited for sales, the difference between success and failure is deliberate practice. Your knowledge of scripts and dialogues, market conditions, plus strong lead generation, lead conversion, and negotiation skills, will make or break your business.

9. Prospecting works better than marketing Most agents rely on passive marketing. The consumer sees your marketing piece and may decide to contact you. Prospecting, in contrast, means that you actively seek buyers and sellers. The best venue is still face-to-face including calling on owners of expired listings, For-sale-by-owners, or keeping in regular contact with your referral database.

10. If you argue for your limitations, you get to keep them. Everyone has plenty of excuses about why they can’t succeed in today’s market. You can keep your excuses and struggle or you can choose to take steps to overcome them. The strategy that works the best is time blocking. Block out your vacation and family time first, followed by 2 to 3 hours of lead generation activities every day. There’s no magic bullet–lead generation must be your number one priority.

11. Most agents lack a capture strategy Use an offer of service to motivate people to contact you. For example, if prices have decreased in your area, offer to supply them with the comparable sales data that will allow them to apply for a property tax reduction.

12. Create an aggressive short sale strategy If you are representing sellers who are facing a short sale, begin by listing their property at market value. Then have them agree to lower the price ten percent per month until you receive an offer. Take this offer to the bank and include the history of the price reductions. While you may not get the original short sale offer approved, you now have a saleable short sale listing with a bank approved price.

If you want to put your business back on the road to recovery, the steps above provide a clear road map on how to get there.

2. Welcome Notes Welcome to our new subscribers this week. Each week RealClues provides you with great strategies to improve both your business and your life. If you find this issue of RealClues helpful, take a moment to hit the “forward” button and send it to another friend in the business.

Happy 2009! There’s good news on many fronts. California sales continue to climb, lenders are slowly coming back into the marketplace, and the 30-somethings are jumping in to buy properties while they can “still afford it.” The sky is definitely not falling. In fact, this week I’m running the very first audio broadcast from our Positive News for Positive Realtors from December of 2007 that explains why prices will indeed go up once again. To listen, just point and click on the link below (be sure your speakers are on and give the site a few moments to download the file.)

http://budurl.com/2mae

If you like this broadcast, we will be doing a new one each week in 2009. Join us at no charge to learn what’s right about the real estate market. And don’t forget to order your personal guide to real estate success, “Real Estate Dough”–the #1 best selling book at this year’s NAR conference. Order today and get $5 million worth of Real Estate Dough!

Have a Happy New Year and Make lots of Real Estate Dough in 2009!

Bernice Ross and Byron Van Arsdale, Chief Dough Makers www.RealEstateCoach.com, www.RealEstateDough.com, www.LuxuryClues.com, www.RossdalePress.com, www.ConferenceCallTraining.com, and www.TeleconferenceLine.com

3. Bonus CoachingClues: What Consumers Want in an Open House Are you interested in having open houses that actually appeal to potential buyers? If so, check out the results from this new research from BestAgentBusiness.com.

Steve Kantor of BestAgentBusiness.com has been conducting regular studies of what consumers want from their real estate buying and/or selling experience. His past consumer surveys show that agents should dump their pictures from their mailers (Who do agents think they are–movie stars?) and that virtually everyone detests receiving cold calls.

His latest research asked consumers to share what works in terms of open houses from their perspective. Much of what he found goes back to the fundamentals in the business; the basics still work. Here are the primary highlights from his most recent research.

1. The basics Consumers expect the open house to be sparkling clean, the landscaping beautifully maintained, fresh towels and linens in all the baths, a fire in the fireplace, and fresh flowers throughout. Ask the seller to depersonalize the rooms by putting away family photos, mementos, and distinctive artwork. Have soft music playing in the background. Keep children occupied while their parents are viewing the property with coloring books or other activities. If there is an awkward room, make sure it is properly decorated to show buyers how it is best used.

Market the property in local papers, on Craigslist.com, on other open house sites, as well as to other agents who work the area. Also, make sure to have plenty of signs directing visitors to the property. Most respondents said that colorful balloons were a good way to attract their attention.

2. If you feed them, they will come Virtually everyone surveyed recommended serving food, preferably something homemade such as chocolate chip cookies, brownies, or apple pie. Others suggested having open houses at different times and using food as a main attraction. For example, you could hold a “Brunch” open house on Sunday from 11am to 12:30pm or “Happy House” on a weeknight from 5:30 to 6:30. (Consider using non-alcoholic drinks to avoid liability issues.) You could also do an evening open house with champagne and hors d’oeuvres. The point is to make it an occasion that motivates people to attend and shows how much fun it is to live in the property. A different approach is to ask the seller to have a “pre-open” house party where they invite their friends, much like a Tupperware or Avon party.

3. Aromas matter The number one scent that the survey respondents said they liked was chocolate chip cookies. They also emphasized eliminating unpleasant smells including pet odors. Make sure the sellers avoid cooking foods that leave a strong smell after the meal is served. Also, avoid plug-in air fresheners since many people said they were allergic to them.

4. Give me, give me, give me Almost everyone surveyed indicated that having some a give-away would motivate them to attend an open house. Suggestions included discount coupons for furniture, a reduction in title or mortgage fees, or a complimentary home warranty policy if the buyers purchased from attending the open house. Also recommended were bottles of wine, tickets to local sporting events, movie tickets, calendars with local school events, and refrigerator magnets.

5. Create a theme Have open house featuring local artists. Include pictures of their work on your open house brochure and in your web advertising. For historical homes, provide a printed history of the area or invite a local expert to give a lecture at the property. Contact local antique dealers to see if they would be willing to display some of their wares that are appropriate to the era in which the house was built.

If the property is located near a medical center or major hospital, consider using a health theme such as “Good health starts at home.” Advertise in the med center and hospital publications. Invite a nurse to be on site to check blood pressure. Provide “heart-healthy” snacks like fruit and nuts. If the house has health-promoting features such as special air or water filters, emphasize those as well.

6. Additional Consumer Suggestions Hide the flyers! Don’t hand them a flyer right away or leave them sitting out. Make them work for it! Have a conversation about the home instead.

Use your laptop to show comparable sales including virtual tours of other comparable properties.

Turn on the sprinklers for 30 minutes to make the lawn sparkle and use wood chips to cover bare spots under swing sets or other high traffic areas.

Advertise on college campuses to reach “non-traditional” students who are looking for their first homes. You also have the benefit of reaching the professors as well.

For advertising, Scout troops often are eager to raise money to fund their trips or camps. Hire them to help with clean up of properties or distribute flyers. You can also invite the seller and/or open house visitors to make donations to the troop who helps you.

Have visitors rate the house from 1-5. Ask if they would like to know about other open houses and if so how, whether they prefer to be contacted with a postcard, text, email, or phone call.

If you want to hold great open houses in the future and attract more open house visitors, following the simple steps above is a great way to do it.

4. Create a Better Life: Secrets to Standing Out from the Crowd–Don’t be a Boring Potato! Don’t let the title in this link fool you. This article is based upon the tips from two of America’s top female speakers–Ann Randolph and Jennifer Cummings. This article first ran in December of 2007 and it’s an excellent reminder of what you need to do today to profit tomorrow.

http://budurl.com/uqe3

5. Positive News for Positive Realtors(reg) Discover how easy it is to find out what’s right about the real estate business! This is a reprise of our very first Positive News for Positive Realtors. It’s as valuable today as it was last year when it was first posted. Click on the link below to learn why, the sky is not falling and prices will go up again!

http://budurl.com/2mae

6. LuxuryClues.com Start Your 2009 Real Estate Business with a Clean Slate http://budurl.com/6pub

The $20,000 Christmas Dessert Plates–What’s in Your Closet? http://budurl.com/zlml

7. Featured Products: Give Yourself the Gift of More Business in 2009 Would you like the listing presentation that beat out 1200 agents for two multi- million dollar houses in Beverly Hills? If so, my new book, Real Estate Dough ™ reveals the secret of converting over 90 percent of the appointments that you go on into signed business. Jack Douglas was going to give those two listings to the two top agents in his company. After he saw my marketing plan, he hired me and eventually made me the trainer for all 4,000 agents in 60 offices throughout California. This listing presentation gave us 50 to 70 percent market share in the most competitive market in the country–Beverly Hills, Brentwood, Bel Air, Pacific Palisades, and Santa Monica. If you want to convert both more seller AND buyer business, order Real Estate Dough(tm), this is the one book you need to jump start your business in 2009. Order our Real Estate Dough ™ Negotiation game, improve your negotiation skills even more. Purchase both and save!

http://budurl.com/vtzt

8. What’s New at ListenandLearnRealEstate.com WHAT’S NEW AT www.ListenandLearnRealEstate.com for DECEMBER 2008. ($29.95 per month for eight new audio broadcasts every month) Our library now has over 120 titles–check out all of them by purchasing a one month membership for only $29.95 or stay for eight more titles every single month.)

*Ten Ways to Get Your Real Estate Listings Sold Now If you’re struggling with getting your listings sold, this session has 10 proven strategies that will help you go from listed to closed in any real estate market.

*Going the distance–Hitting Your Real Estate Sales Goals for 2009 Lots of people set goals and yet, less than five percent achieve them. This session provides the seven steps you need to take to make your goals a sweet reality.

*Make Your Real Estate Business Profitable Now! If you’re ready to get profitable now, this session unlocks the secrets of how to do it.

*Manage the Fear The constant barrage of bad news can block your real estate sales success. Often times there is no way to eliminate fear. The secret is in managing it. This session shows you how.

9. Increase Your Production with Personal Coaching Looking for a well-trained coach who knows the real estate business? Our coaching team can help you increase your production and make your dreams come true. Send an e-mail to Shane@RealEstateCoach.com and we’ll help find the right coach for you.

10. Give Us Your Feedback On This Newsletter We want your feedback-to share your thoughts and suggestions, please e-mail us at Shane@RealEstateCoach.com.

11. How to Subscribe/Unsubscribe Visit our Web site, http://www.RealEstateCoach.com to subscribe/unsubscribe to RealClues.

Copyright (c) 1996-2008, RealEstateCoach.com and Teleclass4U.com, LLC. All rights reserved. Permission is granted to reproduce, copy, or distribute RealClues as long as this copyright notice and full information about contacting the contributors to this newsletter is attached.

Contributors to this newsletter: Bernice Ross, MCC, and Byron Van Arsdale, MCC, Owners, www.RealEstateCoach.com, www.LuxuryClues.com, www.ConferenceCallTraining.com; www.RossdalePress.com; and www.TeleconferenceLine.com Shane Bowlin, REC General Manager

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