The funny thing about our Mastermind sessions at Bosley Real Estate is that we rarely cover the same topics twice. But even if we do there is always a wrinkle to the story or we simply approach it from a different angle. It keeps things interesting, and since we have so many new agents attending these days, there is still lots of topic discussions, opinions and laughter . This week we focused on two main topics. The first about transparency and the second on missed opportunities.
So, an agent sold a condo to a client who already lived in the building. This client was going to sell her first suite but wanted to keep her original parking spot and locker and include the parking and locker from the new suite. Overall, nothing earth shattering. It seems like a relatively easy thing for a lawyer to do. The concern was whether this information should be disclosed to a potential buyer. Does it really have to be? I mean, the reality is she is still selling a condo with a locker and parking, just not the same locker and parking that came with her unit. Let’s add this little wrinkle to the story; when she eventually sells her unit, she is including a parking spot and locker that she hasn’t closed on yet. So how was the issue overcome? Simple really. The two units were not closed at the same time. The purchased unit closed first and in the brief time that she owned both units, the lawyer was able to transfer the parking and lockers. By the way, the purchaser was made aware of this transfer well in advance. File this under the category of “full disclosure and transparency”. I would equate it to the saying….always tell the truth so you can’t be caught in a lie down the road. While on the topic of full disclosure several agents asked about other things that might be considered pertinent to a house sale. Would you disclose a nutty neighbour who lives down the street? How about the fact that the property was known as a local “swinger” hang out? While not considered “stigmatized” properties, the information might alter a potential buyer’s opinion of value. Do you agree?
We also talked about missed opportunities. I have said this on many occasions; If I could go back in time I would buy EVERY house I walked away from because I thought the Seller was asking too much. Coulda shoulda woulda. I could have, I should have and I would have…..if I knew then what I know now! Well there is one other slogan that I firmly believe in; if you lose a house, it is because there is a better one just around the corner. This topic led into a discussion about helping buyers make that all important decision to jump into the market. An agent suggested that they start with the ultimate wish list and then start paring it down to what is really important. There is a delicate balance to how you approach this because you do not want a buyer to think that what they want is unattainable. It seems that the conversation has to be a balance of availability, price and practicality. Another agent felt that some clients are completely numbers driven. They analyse every detail of the purchase down to the last dollar while others work on a decidedly emotional level. Understanding your client and keeping an open line of communication will get you farther and make the experience pleasurable.
This one comes from Forbes Magazine. It is interesting to me because we talk a lot about content. Everyone says content is king but the reality is that just because you might like the content doesn’t mean your customers will like it, so make sure the content is worthwhile. “In an era where every brand is a publisher and a content creator, you must have a point of view and a compelling voice. You have to know how to tell a story, youhave to learn how to draw a reader in. The biggest mistake companies make is not thinking about their reader first. There’s still the corporate voice –and the CEO loves it, but the customer doesn’t. You have to create content the customer will thank you for.” http://www.forbes.com/sites/dorieclark/2013/02/08/the-content-revolution-why-all-marketers-must-become-journalists/?ss=cmo-network
And in a related story, here is one that considers a ” one-off’ approach to content vs ” continuous story telling”. What approach would you use? http://www.huffingtonpost.com/janet-balis/content-marketings-revolu_b_2641234.html
While we are on the topic of blogging and creating content, check out this post. It is about making sure your blog gets picked up and shared. That’s the end goal after all. http://dashburst.com/maximize-blog-shareability/
This one from @coskills is fantastic. We all assume that our buyer or seller packages should be jammed full of our successes. It is our “resume” in many ways. Take a look at these awesome “un-resumes” that actually are way more persuasive. Do you think you could think this far outside the box? http://communicateskills.com/2013/02/07/interactive-resumes/ click on the youtube video and the slide share, they are particularly awesome.
Do you think Facebook is the enemy? It’s not. In fact, if you are trying to build a bigger following you should read this. Facebook specialist Allfacebook.com states that for them Facebook fans are twice as effective as an email list. Their reasoning?…that email is now full of “spam” and 50% of all Facebook users log in every day. Nuff said! Read more at http://www.jeffbullas.com/2011/09/09/20-ways-to-increase-your-facebook-likes-and-engagement/#hKHqyQh4vITxQmUu.99
This seems to be a common occurance in our industry. An agent is gung ho to drop a news letter or flyer in a neighbourhood. The first few go according to plan. They get out on time and are loaded with great information. Then they get busy with buyers or new clients or maybe something unrelated comes up. They delay the latest mailer by a week. Then it’s two weeks. Then they convince themselves that people won’t notice if they miss a month. Maybe they decide to take the summer off because they talk themselves into believing that everyone in their farm area are away on vacation. Before long, the agent stops mailing out stuff altogether. Unfortunately there’s a problem with that. You’ve spent time, effort and money getting your name out there. When you stop, people forget about you. All that hard work goes down the drain. Mailers are about name recognition and every agent will tell you that it is rare to pick up a client with one or two mail drops. This should be a long term committment.
Hey, this is exactly what happens when you work out. You get up early a couple of times a week and go for a run or hit the gym. After a few weeks you start looking and feeling great. Then you stop. Before you know it all that effort is gone and if you want to get back into shape again, you have to start the process all over. This should come as no big surprise.
This morning I woke up at 6am to go for my run. It was dark and cold outside. I contemplated hitting the snooze button. Trust me, it takes a whole lot less effort to push a button then to climb out of bed and go for a run. But, I need to get back into shape. Just like last year, I want to run 1000kms. I am committed to the process and the discipline. I know I’m not going to achieve my goal overnight.
Treat your business like a marathon. Today’s take away is simply this…Don’t hit the snooze button on your real estate career.