Knowledge Trumps Information

Recently, I skimmed an interview in Fortune where Warren Buffett talked about the best advice he’d ever been given, along with his secrets to success.  The thing that struck me most was Uncle Warren’s comment that his “big secret” was that he was good at “lifelong learning.”  Wow, what a simple idea, and one we so often forget as we get caught up in our day-to-day spin!

So, taking a page from Warren’s book, I decided to do some reading and turned to the Inman News website and was of course delighted to see that a new Facebook app “let’s homeowners tweak valuations” so they can “adjust their published online home value….”  As Charlie Brown likes to say, “Good greif!”

But then I found another article that lowered my blood pressure a bit.  The writer’s lead line had to do with “knowledge-driven services,” and since I love knowledge and I love services, I dove right in.  The article pointed out the widespread public availability of a vast amount of real estate information that has become staggering compared to what was out there even ten years ago.  The consumer can be overwhelmed by not only the amount of information, but the wide variety of sources. 

Unfortunately, having access to information can be confusing and misleading—or downright zestimately wrong—and is no substitute for knowledge! 

And that’s where we real estate professionals come in.  Our expertise and experience allow us to analyze the information and recognize subtle patterns and quirks that make one element of that information more important, for example, than others.  Our understanding gets us to the “how” and the “why” of the information that are crucial in making decisions.  Voila, value added!

The article goes on to remind us that not only is knowledge power, but that given the near instantaneous generation of information, such knowledge had better be delivered quickly.  Enter technology!  The writer urges us professionals to make sure we’re fully integrating the latest tech tools—tablets, digital contracts and signatures, plus slick new info sharing apps like Evernote or DotLoop—and that we’re comfortable and professional in their use when we’re with a client. 

So, where are you with the integration of contemporary technology so you can leverage those tools and showcase your high level of knowledge to win and impress your clients every day?  Our training program and systems evolution, along with your coach, will be there to help you assess your integration of the various tools so you can spend some time on the practice field honing those Evernote and Docusign skills and add more of the latest Apps to your toolkit.  Get ready to showcase your knowledge to its best advantage and to impress those Millennials as they move into the market!

David M. Hassler

Director of Coaching

Still Getting Things Done

Recently, I dug into a book that had been sitting on my desk for about a year, waiting for some attention, but which never seemed to rise to the top of the stack.  Then, at the BHHS/Pru convention in Nashville, I attended Stacey Harmon’s session on Evernote (of course!) and she mentioned David Allen’s Getting Things Done as a key element in her use of that app and her workflow system, which is covered in detail in her great book Untethered, by the way.  I finally got the message and started reading GTD and was surprised to find a system—I’ve read many books on this topic—that actually made sense and seemed to be a real key to organizing not just one’s work, but one’s life!

Allen’s primary point is that we get things done best when we can focus on the task at hand, free from distractions.  Rather obvious, of course.  But he goes on to clarify that by distractions, he doesn’t simply mean a ringing phone or a barking client, but rather all those nagging little voices in our minds, interrupting and reminding us—constantly, it seems—not to forget that we have to run a CMA for that presentation tomorrow or call the brick mason to ask about that chimney repair by next Tuesday or, yes, to take the dog to the vet on Saturday and get to little Sally’s soccer match by 6. 

So, Allen’s first epiphany for us is that our personal and professional lives—especially in terms of planning and controlling our activities and attention—cannot be separated, so we should develop a system that recognizes and accounts for that integration rather than trying to deny it.  He goes on to clarify that the only way we can manage all those competing little voices is to make sure every one of our “projects” is stored in a “bucket” where we have complete confidence that we’ll never forget or miss one!  By creating and maintaining our bucket of projects, Allen says, we’ll have the confidence to quiet those nagging voices and focus on the task at hand, yielding far greater effectiveness in the use of our time, ie, making more money—and more happiness—per hour!

GTD was written before the advent of Evernote, but Stacey Harmon, in her book Untethered, has adapted Allen’s GTD approach and developed a workflow organizing template that makes Evernote the perfect bucket, since it’s with us on our laptops, our tablets, and our smart phones nearly everywhere, letting us be fully in control.

One hint:  when you grab something from your figurative “inbox,” if it would take less than a couple minutes to deal with it, DO IT RIGHT AWAY and be done with it!

I’ll write more on the GTD approach in the future, but for now, just think for a moment how effective you might be if you could really focus on the task at hand! 

David M. Hassler

Director of Coaching

Listing Tips from The Paperless Agent

The other day, we took part in a Webinar with the folks at The Paperless Agent in Austin, Texas, and wanted to pass along some of their concise tips, starting with a couple of those we often forget when looking to secure a new listing.  Listen up and remember to put these into your toolkit!

The Paperless Agent’s Tips on Securing a Listing

A listing appointment is just as prone to client objections as any other sales conversation - in particular, the objections come with pricing, and the potential of interviewing other agents who all want to get that listing.

Client Objection 1:
 The Decision to Select Another Agent

OBJECTION: What if your potential seller slows you down because they are interviewing other agents to sell their home?

Part 1: During The Phone Consultation

AGENT: Are you interviewing other agents to sell your home?

SELLER: Yes, I’m interviewing a few other agents.

The answer is almost always yes.

AGENT: Great – all I ask is that you interview them first, and then I’ll come in the next day.

Asking to come in the next day after a prior agent interview can come off as a strange request, but it almost always gets granted. This way, you’re the last one in, and statistics show that the last appointment tends to get seller to sign the listing agreement.

Part 2: The Listing Appointment

If you show up to the listing appointment, and when you are ready to start signing agreements, they may let you know then that they are interviewing other agents. Begin the agreement conversation with...

AGENT: “Great, now, is there anything else we need to cover, or are we ready to get started?
SELLER: "Well, I'm interviewing someone else..."

AGENT: "What would they have to do to convince you to work with them instead of us?"

At this point, they don’t have a formulated response, or typically can’t think of one if you’ve followed The Paperless Agent’s Seller System.

AGENT: "In order to respect their time, don't you think you should call them and let them know that you already made a decision? Because, honestly, they are going to waste your time and their time by coming over here. Don't you think it's more respectful to them to let them off the hook easily?"

SELLER: "Well, yes, I suppose you're right."

AGENT: "Okay. Now, do you have any other questions or are you ready to get started?"

This is not only a great way to get over and objection, but an opportunity to see what you missed on the appointment. By asking "what would they have to do to work with them instead of me?" you have an opportunity to see what wasn't clear, or where you may have taken a misstep - it is both a learning lesson and an opening to recover control of the appointment.

Once you have covered what they need to hear, repeat - "Now, what else would they have to do or say to have you pick them?" As you cover these objections one by one, they lose the ability to justify going with someone else.

TIP: The more time you spend with the client, the more they have invested with you. Most agents are done in 30-45 minutes, but we recommend 90-120 minutes spent with the client. The time invested does not necessarily mean you are making a more lasting impression by being with them for a longer time period - it gives you the time to cultivate a strong client/agent relationship and develop a rapport.

So, what tips on overcoming objections in the listing process do you have that you can share with everyone?

David M. Hassler

Director of Coaching

Gone Bikin'

Gone Bikin' at 8,700 feet on the road up to Eldora, Colorado!

Who needs all that extra oxygen, anyway!

David M. Hassler
Director of Coaching