February is quickly coming to an end…2/3 of the first quarter is OVER! For those of you who are in momentum, congratulations! For those who are not as satisfied with their results, fear not: the year is still young and it’s okay to be just hitting your stride. To help, here’s some tips to get your momentum going!
- FOCUS on the VITAL FEW, not the TRIVIAL MANY! Not all activities hold the same value, nor do all prospects offer the same degree of value. Keep your ears open for warning signs (buyers not knowing what they want, sellers that keep stringing you along, etc.). Don’t be afraid to DROP a stale prospect and replace them with someone more eager!
- ASK LOTS OF OPEN ENDED QUESTIONS OF CLIENTS! AND, monitor your tone…because you don’t want to come off like a police interrogation. Use ‘what/how/when/ f’ to begin your question: “what is your intention with this offer?” “How will you feel if you lose this property?” “When would you like to be in your new home?” “If you don’t receive a counter offer, how will you feel?” Questions test for motivation, motivation determines action.
- DON’T SPEAK ON BEHALF OF YOUR CLIENT. By doing so, you could lose a deal! As an agent, you truly never know what a client is thinking or what they will do. Recently, a listing agent told a buyer’s agent they had received a higher second cash offer and if their buyer wasn’t willing to match or go above that price, don’t even bother responding! Both agents acted inappropriately and beyond the scope of their fiduciary responsibilities to their respective clients. Not only did the listing agent not have permission from the seller to share the details of the multiple offer, the buyer’s agent should not have spoken for his buyer, regardless of what he “thought” the buyer would do! RESULT: NO DEAL HERE!
- IF YOU ARE GIVING A FINANCIAL CONSIDERATION TO A BUYER* (i.e. offering part of your commission to offset closing costs, so a buyer writes with you), GET A BUYER REP AGREEMENT SIGNED, if you haven’t already; it’s the perfect opportunity! Think of this as a chess game; I move, you move. I give, you give. *Please consult with your broker/office attorney on this one, it can depend on the situation
- WORK MORE! I say this because some agents are just simply not working enough hours. Of course, it’s not necessarily about the amount of time, but the quality. YET, one MUST invest the time in order to see results and develop the professionalism needed in this highly competitive field. It takes 10,000 hours to master anything. Kobe didn’t shoot hoops for just an hour a day.