Entries Tagged as ''

Real Estate - Commission only? Retainer or no?

I was asked recently by a great and motivated student why on my Massive Success in Real Estate CD (click to check it out, it’s still cheap, but only til the end of the year) why I recommended getting on to ‘Commission Only’ as soon as possible.

This is the only way to earn the really big bucks for several reasons.

- The other options are where the business owner is taking a risk on you, so in order to make that risk worthwhile, often your % rate is significantly less than if you take a punt on yourself, like any self employed business person does.

- If you are on a wage PLUS commission (even worse than a debit credit system), then I’ve found most deals are better for the beginner than the super 6 figure earner. eg someone making no sales is way better off on a $52,000 salary plus bonuses. But someone making a sale a week is going to be paid over $350,000 in commission where they’d be lucky to make half that on a wage plus bonus system.

- This takes us to the mindset of Commission only. Just having that safety net of $500 per week, in my opinion, severely limits the chance you will ever make $300,000 per year. The very fact you have in your head $500 a week, means your subconscious is still thinking like a $500 per week employee. I know this doesn’t make sense to your conscious mind, your intellect, your logic, but then hey, not much that the subconscious does think makes any logical sense, it just is. We need to, as soon as possible, get as far away from this ‘exchange a week’s work for a week’s pay’ mentality. That is NOT the business we are in. You no longer exchange your hour for $22.67 or whatever your hourly rate to date has been. If there is a safety net on your wage, then there is a ceiling opn your earnings, even if that ceiling is a psychological one. It’s like the flea and the elephant training. A flea can easily jump out of a jar, but put one in a jar with a piece of cling wrap on top for a period of time, it gets conditioned to not be able to, and eventually it can’t. Same as when a baby elephant is tied by a stake and can’t pull the stake out of the ground. When fully grown that elephant has taken it as a given that when staked it is stuck, even though by this stage the elephant could easily pull the stake out of the ground with it’s massive strength, it just forgot about it.

I say all this and mean it with all my heart, but I want to add something. If your family responsibility requires a $500 a week certainty at this stage in your life and you are risking your family and your financial well being on your real estate career, I am not recommending you go to ‘Commission only’ straight away. If the worst case scenario is not acceptable to you, then don’t do it. Find someone who will pay you a retainer while you grow your mindset to know that you don’t need it anymore. Use it like training wheels. Yes, I believe that you will not succeed as quickly if you start with the training wheels, but at least the fall won’t be the end of your marriage, kids, whatever.

So in my Massive Success in Real Estate program, that is what I mean. Get onto commission only as soon as you can responsibly do so. And if you get that program, implement even a quarter of the strategies in it,  I promise you with a money back guarantee, you’ll be one step closer to doing just that.

Popularity: 27% [?]

If you're new here, you may want to subscribe to my RSS feed. And if anyone can tell me what an RSS feed does, I'll love them forever. Thanks for visiting!

Global Financial Crisis ?? Ray Wood is here to help with weathering the storm !

Here is a great email that Ray Wood has given me permission to post to you guys. What a champion. Thanks Ray, over to you…             

                       12 ‘Musts’ for Real Estate

            Success In the New Economy 
 
Everything changed last month.  Welcome to the new economy and the most exciting opportunity to shine in sixteen years.  Here are 12 musts that will help you create extra income in the year ahead;

  • 1. If you have unsold listings, then sell them or sack them. Simply grade your stock as to motivation (10 has to sell yesterday and 1 has no reason). Then peel off your 7s or better and make a time to meet and get them priced right to sell. Dont do it on the phone if you can help it. Right now you can ask if they want to be sold by Christmas. No point looking for more listings when you are not moving the ones you have. Watch your days on market as well. When this blows out it gets costly. Your sellers want leadership and results. We are marketers not valuers. Honour you commercial obligation and get a sold sticker on that for sale sign before December 25!
  • 2. Keep building your contacts. If you go to a listing presentation and you have no relationship established with the seller, chances are you are just a price check.
  • 3. Dont rely on email for your communication. Sure, it can be part of it but it’s getting harder and harder to cut through all the junk these days. The only reason you are reading this is that you and I have established a connection and you feel there is value in what Im offering. Otherwise you would unsubscribe so it’s my job to not only come up with fresh ideas that will make you money but I need to keep you interested too.
  • 4. So if thats the case, make sure you use the phone as your main contact method. The phone is still the real estate professionals weapon of choice.
  • 5. Make a plan to build extra business contacts. Why dont you create a list of PREFERRED BUSINESS PARTNERS? Include everyone from your eye specialist to your dry cleaner and get them printed off. Hand them out at opens and listing appointments. You can offer them as a download from your website too. Make sure you send on to everyone on the list so they know you are helping them make money in the new economy.
  • 6. Use a good Professional Photographer to take your pix. Please?
  • 7. Offer free stuff (Free Book, Free CD, Free Makeover Consultation, Free Professional Photography etc…) Free stuff is a great lead generator in the new economy
  • 8. Use your Free Offers when you make phone contact. Dont call and see if they want to sell, call and offer stuff. EG: Hello Mrs Johnson, its Ray calling from Free Stuff Real Estate and I wanted to let you know that we have a free advertising package available for property sellers in November and December. Can you think of anyone who might be selling?
  • 9. Okay…this is good… Make sure you multiple contact. Lets say you have a great free offer in place. Your strike rate will be much higher if you go email, letter, phone and text all in the same two day period.
  • 10. Daniel Mendes tells me he regularly swaps vendors with someone else in his office. This is very cool thinking from the guru. He simply calls one of his co-workers vendors and provides buyer feedback when a price needs reducing. His co worker does the same for him.
  • 11. Target your marketing to send a single powerful message. Unless you are following the 600 Plan, your promotions need to have one single point. We think its fresh and new and exciting to get different stuff out all the time but our target market just gets confused. Imagine if Nike only used Just Do It every so often.
  • 12. Get organised! Heres the number 1 way to catch your competitors napping; Work out what needs to be done and do it beforehand. I love doing a list of things that need doing the day before. That way my sub-conscious gets to work on it while I’m sleeping. Somewhere between lunch with Elle McPherson in Paris and helicopter Skiing in NZ, my mind will begin work on the next days actions. Try it, its amazing…(and say hi to Elle for me)
  • 13. Focus on Dollar productive tasks. Spend 90 percent of your time doing… 1 Putting a deal together. 2 A listing presentation. 3 Looking after your sellers and getting their price reduced if required and 4 Finding new contacts and phoning your existing ones. Buyers are way down the list. Control the stock and OWN the buyers.

 

Ok, it’s Glenn again, follow Ray’s tips, learn your craft because the days of simply being in real estate and making money are over. YOU MUST LEARN THE SKILLS NOW. Check out my stuff, Ray’s or whoever, but get good, QUICK or suffer the consequences of being the latest statistic. Here’s tip 14, buy my CD program designed to get you more business than you can poke a stick at, especially in times of financial crisis, you need choice in order to discard anyone below a ‘7′ (see Ray’s tip number 1)

 

Glenn Twiddle (guest article by Ray Wood, thanks again mate)

 

Popularity: 38% [?]

Hypnotic secrets of communicating and selling

For more information on these types of persuasive conversational communication techniques, join my mailing list at Real Estate Training Brisbane, get on my email list to be informed when their is live training or CD / DVD training in this and other skills and techniques, now read on….

I am asked every day how hypnosis relates to selling as it really is a misconception that hypnosis is some mystical thing that is done in a therapist’s chair.

 Hypnosis happens every day to YOU whether you know it or not. Think about the last time you  made a purchase. I bet the salesperson didn’t convince you to buy it, but for whatever reason you decided  you needed to have it. Well, Joe Vitale describes that state of mind as a ‘buying trance.’

And as a salesperson, you can use specific tools of communication to influence your clients, prospects, even family members to go into these ‘everyday trances’ where they just want to do what you suggest, but in their minds, they do it for their own reasons.

 Consider this seemingly innocent paragraph.

 ’By now, you may have heard we had some issues trying to get this product in stores. Well you’ll be happy to know that it is now available for you to get in stores and you can feel great that you are only the right decision away from all the benefits of getting it today. So think to yourself, when making a purchase, what do you need to feel comfortable? With me and this product, we endeavoured to do that for every customer we have helped over the last 10 years. Thanks for listening. Bye now.’

 There’s a few little commands in there, and some of them are more obvious than others. Look for these commands -

‘Buy now’ (on more than one occasion and repetition is the mother of success in advertising and hypnosis.)

‘get this product in stores’ ‘get it today’ etc

‘feel great’

‘ feel comfortable with me and this product’

and if you take your time with your copywriting, you can literally ‘litter’ your words with this ‘covert’ persuasion and people simply ‘find themselves buying your product’ without all the sales closes.

Fun stuff, I urge you to take your command, whatever that is and see if you can put it into language that makes sense in a conversational way.

Popularity: 34% [?]

A client of mine is hiring in Brisbane Real Estate

One of my clients is looking for the ’next big thing’ in inner city real estate. If that’s you, read on. This is his recent advertisement that he asked me to post on my blog for him. Happy to help…..read on….

The real estate market is changing and we are no longer in boom conditions. Does this mean there’s no successful real estate professionals doing well? NO WAY, the best agents will INCREASE their success in this time !!! Our average earner is over $100,000 per annum.  WE DON’T HIRE GREAT SIX FIGURE INCOME REAL ESTATE EARNERS….WE MAKE THEM………. Sure if you’re already good and want to become great, we might consider you, but if you are brand new, raw, open to learning and ready to go, we can help make it happen for you.  Our system involves =-

  • Full and comprehensive world class training materials and systems
  • Full company support and admin systems (that is done for you, like having your own personal assistant)
  • Career path to follow so you don’t have to leave our company to start your own in the future, as you can build yours WITH us. 
  •  Full training, mentorship and coaching support
  • Generous commissions (one of the highest in the industry)
  • REIQ accredited agency
  • High profile office on Brunswick Street New Farm

 For a confidential interview or even an informal chat, call or email Jason on jason@allbrisbanerealty.com.au or 0407 489 992

www.allbrisbanerealty.com.au

Popularity: 40% [?]

3 tips to avoid the Global Financial Crisis hurting your business

We are no longer in boom conditions so it is vital that you develop the skills to continue to sell when the others complain about the market.

1. Price must be accurate. Call each of your current listings and get them priced to sell with a well run ‘price adjustment’ meeting. If the owners don’t wish to meet the market price wise, with a well positioned advertising campaign, then do one of two things -

a) put them in your rent roll and look after them with your property management department until the market is ready to meet their price OR

b) refer them to someone else to handle. IF you have someone new in your office who needs the practice, then refer it to them, but if the owners really are unmotivated and overpriced, then refer them to your competition. If they happen to jag a sale, no problem, you still get 20%, but the most likely outcome is you’ll slow them down.

(For more info on this ‘price adjustment meeting’ stay tuned to www.glenntwiddle.com.au for the ‘Recession Buster’ CD and DVD program.)

2. Keep adding to your mailing list using a databasing program. (If you don’t have one yet, here’s a cheap (with a free trial to see if you like it) but very good one click here http://www.icontact.com/a.pl/327537 )

Make sure your clients have heard of you often before you go out and see them. Consistent (but not too often) emails will develop a relationship in the mind of each person, but take very little time on your part to send out emails to your list

3. Take steps to develop ‘Raving Fans’ among your group. See my youtube videos for some tips on what those things might be, but let your imagination run wild. There’s a million things you could do to get the attention of your people. (The ‘Massive Success’ program at my website is dedicated to this and other business creating topics.

Popularity: 42% [?]