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Posts Tagged ‘commercial real estate advice’

What Market Leaders Do and How They Do It

August 25th, 2014 No comments

Massimo clients earn 4x the average CRE Professional. How do you compare? Where do you compare against industry best practices? Challenge yourself to find out with R.A.M.P. UP©! 2014

“Great program. Systematic stepwise approach to place all facets of the CRE business in perspective while providing a system to make the necessary changes for improvement and to have the metrics to monitor and measure the efficacy of your actions. The professionalism of The Massimo Group sets a standard for the Commercial Real Estate industry.”
                                                                       ~ Stan Kitrell, Kitrell & Armstrong

R.A.M.P. UP© is 30-day program consisting of a series of exercises, organized into 5 modules – Role, Area, Monetary, Presence, Utility & Processes – that you take at your own pace. For each section of R.A.M.P. UP© completed you receive a “rating” that allows you to see how you stack up and allows you to identify the areas of your business that will have the greatest impact on your income.

At the end of R.A.M.P. UP© your CRE career will be in better shape than when you started, and you will be on your way to joining the Massimo member community that, on average, earns 4x the typical commercial real estate broker.

For more information on R.A.M.P. UP© and to learn how you can win one of 6 R.A.M.P. UP©! 2014 prizes, Click Here.

The program starts on September 15. Sign up before September 7 to receive $100 off R.A.M.P. UP© 2014! (regularly $249.00).

Don’t let 2015 be another average year! Sign up for RAMP UP today!

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Step 1 to Making 2015 Your Best Year Ever

August 21st, 2014 No comments

The Massimo Group announces R.A.M.P. UP©! 2014.  This national event will provide the commercial real estate community with access to the Massimo Group’s proprietary, personalized, revenue-identification platform. R.A.M.P. UP© is a 30 day, self-paced event that includes live webinars, on-line programs, over 400 proven revenue driving strategies, bonus exercises and the opportunity to win one of six Massimo Group coaching programs!

R.A.M.P. UP© is designed specifically for:

  • Commercial Real Estate Brokers
  • Mortgage Brokers
  • Property Managers
  • Brokerage Owners and Managers

The program has been successfully implemented by 1,000s of professionals in over 5 different countries.  We are so confident that after completing this program you will be in a better position to maximize your revenue that we will guarantee your satisfaction.

R.A.M.P. UP©! 2014 starts September 15.  If you want to finish the year strong and make 2015 your best year ever, take the first step and sign up for R.A.M.P. UP©! 2014 today!

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Your F-Factors to Managing Your Week

August 11th, 2014 No comments

The continued feedback from my previous blog on how several new to business professionals stated they worked “up to” 40 hours a week continues to be tremendous.  So much so that I thought I would share with you how I look at my week, and how I allocate my time. Admittedly on some weeks, I am in my office for 60 to 70 hours. Most weeks, however, I spend 50- 60 hours “working”. Like many of our readers, I really don’t consider what I do as “work” as I love what we are doing at the Massimo Group.

Every week boils down to one’s personal “F-Factor” and how we choose to allocate our time among 5 buckets. F-Factors are (in no particular order) Family, Friends, Faith, Financial and Fun. Yes, like most, I always put my family first, but most weeks I allocate much more time to the Financial elements that support my Family. My Fun factor can be allocated to both vacations and work-related initiatives. I believe the Faith and Friends are critical, and these are self-explanatory. The allocation of these five “F-Factors” will have a direct impact on how much time you “work” in a given week.

As far as how you spend your time at work (The Financial Factor) – may I recommend you visit my short video on time management.

Finally, to assist with your Financial Factor we have created 2 new programs to make 2015 your best year ever. Our plan is to announce those next week, but this week I am personally allocating a lot more time to my Fun Factor!

Keep your F-Factors in mind as you plan and progress through your week – and always be moving forward.

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Reaction from “The 40 Hour Work Week”

August 5th, 2014 No comments

Last week, I wrote a short blog regarding the responses we received from our free mid-year review and how several new to business professionals stated they worked “up to” 40 hours a week.  I shared my opinion that for those just starting out, who are less likely to have a spouse, children and heavy financial responsibilities, the 40 hour work week is great if you have a salary, but that’s not something we generally find in our industry as a path to success.

I must have hit a nerve because the response was tremendous. Many shared with me that they work 50-60 hours a week and that any thought of a 40 hour work week should be reserved to those that have an “employee mindset.” Commercial real estate success is rarely achieved with this mindset. Others reflected that, although 40 hours is unrealistic, the pace of keeping 50-60 hour weeks is not as rewarding as it was when they were younger. Still, others felt the long hours were rewarding both financially and intrinsically, because they love what they do.

Finally, many suggested we not forget the most important factors in life. I have heard different variations of what this is, but I have my own “F Factor”.  I will address this next week.  Until then, make the most of your work week, no matter how long, or short, it is.

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The 40 Hour Work Week in Commercial Real Estate?

July 29th, 2014 No comments

I recently reviewed some of the 1,000’s of the free mid-year reviews that your peers had downloaded from our website.  A surprising select number of submissions indicated that they worked up to 40 hours a week.  I know what you are thinking.  Who in our industry, with the exception of a segment of the ultra-successful, works 40 hours a week?  Here is the surprising part.  Of those submitted reviews that indicated they worked “up to” 40 hours a week, most were newer to the business.  Unsurprisingly, their financial results were “lower than expected.”

Certainly, a far greater number of responders, including the 100’s of our coaching clients, all indicated they worked between 50 and 60 hours a week.  Is this good?  It is entirely based on your personal priorities.  I applaud those that work “up to” 40 hours a week; especially those with families.

However for those just starting out, who are less likely to have a spouse, children and heavy financial responsibilities, the 40 hour work week is great if you have a salary, but that’s not something we generally find in our industry as a path to success.

Tim Ferris wrote an international best-selling book that sold millions of copies titled The 4 Hour Work Week. I read it, and have even applied some of the principles he shared.  However, his book was focused on selling goods on the internet; working on the beach, lying in a hammock.   When I get to that point, I too may start working “up to 40 hours a week” but it most likely won’t be from a hammock.

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Plan Worked, We Failed

July 22nd, 2014 No comments

Last week I wrote about our plan to fail. I shared with you how I was participating in a 50 and over lacrosse World Championship in Denver this past week, but that our team had not done any preparation. We simply arrived thinking what won us the National Championship back in January would carry us forward to the World Championship.  Of the 11 teams in our age group, I believe we finished 7th with a record of 2 and 3 over the 4-day tournament.

Worse part was that if we had prepared, and played liked we did back in January, I truly believe we would have been in contention for a medal.  But as I reiterated last week, you cannot wing in to win it.

So, why did we fail, besides the lack of planning?

1.  We just showed up, assuming we had done this before, why do anything different?
2.  No one on the team really understood their roles and we didn’t take the time to define them.
3.  We were not prepared for the environment. There’s a lot less oxygen in Denver!
4.  We did not have a true leader. Having too many cooks in the kitchen leads to chaos.
5.  We underestimated our competition.

Losing isn’t fun. It particularly hits me very hard, even in something as trivial as a lacrosse game. But knowing why you lost, especially in the competitive world of commercial real estate, is one of the most valuable lessons you can win.

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I Am Planning to Fail This Week

July 15th, 2014 No comments

Four months back I blogged about my experience playing in an old man lacrosse tournament and compared it to prospecting.  I shared how our team came together and won the elusive “National Championship” of “Grand Masters” lacrosse –they call us old guys who are over the half-century mark.

This week I am off to Denver to participate in the World Championships.  We are set to play teams from Australia, England, Canada and a few other US-based teams.  Here is the kicker: my teammates are all flying in from different parts of the country.  Most of us have never played together and many of us don’t even know each other.  Not a very good plan for success.

You can be rest assured our competition from Canada, England and wherever else have been playing together for a long time, if not all summer.  Regardless how skilled each of us may or may not be; we don’t stand a chance.  Simply put, you can’t wing it to win it.

Lesson for the Massimo Minute is simple – rarely does one win any competition by simply winging it. You can’t make prospecting calls or presentations and simply say “we’re here”.  It doesn’t work.  Yes, we may pull out a game or two, but we won’t come back with the gold.  We will have lots of fun, a few beers and share some old stories, but in commercial real estate – that doesn’t make us winners.

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4 Steps to Correctly Processing Referrals

July 8th, 2014 No comments

With less than 175 days left in 2014, it would be a great time to look back at the first half of the year and review how your opportunities were sourced, and from there, implement a process for insuring your referrals will keep coming.  By the way, if you have not as of yet, make sure you download our free Mid-Year Review form.

This week, we have the pleasure of having a guest blogger provide insight on how to properly process referrals.  Paul Reitz is a seasoned veteran of the commercial real estate arena with domestic and international experience.  We are also proud to have Paul as one of our coaches at the Massimo Group.

Referrals as a Process

It’s no secret that a significant number of our real estate deals come from referrals of clients and friends.  Yet many real estate agents lack a process for not only managing the referral business but more importantly for driving it.

Let’s start by examining the reasons that would motivate your client or friend to give a referral.  This list may include:

1)     They want to help you

2)     They want to help someone else

3)     They like being in the know or the attention that  it brings them to be a resource

4)     They are pleased with past service and feel safe recommending

5)     They receive financial or other forms of benefit

So what happens when a client or friend gives a referral and never hears about it?

Their motivation to keep doing so declines or gets redirected to someone else!

The logic here is pretty self-apparent, yet like many things, turning the concept into action is the key step differentiating top producers from the “also ran in the race” category

We recommend a four step process that addresses the opportunity and becomes your “Referral System. (NOTE- It is a given that your will provide exceptional service to the new prospect)

THE FOUR STEP REFERRAL PROCESS

  1. Within 24 hours or less, acknowledge the referral with a phone call, preferably or an email.  No Exceptions.
  2. Thank the client or friend for the referral and let them know how much you appreciate them doing so and what it means to you and your business.
  3. Inform the client or friend what you have done to act upon the referral; briefly what you will do throughout the process, assuring them of the same service level that the client or friends has come to expect; and how you will communicate to them about the status of the referral so that they know their referral is being handled.
  4. Take the opportunity to ask the client if they need any help with their real estate needs (always prospect) and as important, ask them how you can help them grow their business if appropriate.

Customize your referral process along these lines to suite your business.  We recommend making a referral form for your deal file that outlines these steps and integrating the use of this form into your standard business practice

Think of it as the checklist that your airline captain uses every time he or she flies a plane.

Most of us have good intentions about referrals, but have also been through the crunch periods where things can fall through the cracks.  By turning the handling of referrals into a process and utilizing a checklist, you will minimize the opportunities lost and maximize growing this important component of your business.

One last thought….the effort to develop business from people that don’t know you is challenging at best.   When your past success creates a new opportunity through a referral, you have a “warm call” queued up and ready to go!  Taking the time to acknowledge, show appreciation and demonstrate your professionalism to the clients and friends sending you’re the referral will keep these leads coming and reinforce the reasons that motivate them to think of you when they hear of someone needing real estate services.

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Free Personal Mid-Year Review & Reflection Assessment from the Massimo Group

June 25th, 2014 No comments

We are having the best year ever – are you?

In two weeks, we will be conducting our internal mid-year review with our board of advisors. Although I am never completely satisfied, I am pleased that we are having our best year ever in terms of financial performance.  More importantly, so are the majority of our clients.

Regardless of whether you are having your best year, you are reaping the harvest of the seeds you have sown. The winners are benefitting from both their prior investment in success principles and the recovering market.  The also-rans are only benefitting from the market and will likely slump again when the market flattens.  Thus:

  • If you are not making money in this market, you did not set yourself up for success.    
  • And if you are making money in this market, congratulations.  Is what you are doing sustainable when the market eventually turns, whether that is a year, two years or three years from now?

The mid-point of the year is a great time to take stock in yourself.  Click here to get a free copy of our Massimo Mid-Year Review & Reflection Assessment.  This is the same diagnostic tool our clients world-wide use.  With this tool you’ll be able to evaluate your production from the first six months of the year and lay the plan for the remainder of 2014.

It’s now time to review and reflect on the first six months of 2014 and find out if you’ve done as well as you could have and position yourself for the best second half of the year possible.

All my best to your continued success!

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Getting Ready for Your Mid-Year Review

June 10th, 2014 No comments

At the end of this month I will be meeting with our board of advisors to review the progress we have made during the first half of 2014.

I will first review our original 2014 plan, the key strategic initiatives and tactical sales goals.  Thankfully once we set our plan in motion back in January, we held both weekly sales (prospecting) and marketing (presence) meetings as well as monthly strategic reviews.

Have you been doing the same? Congratulations if you have. If not, we highly recommend you take a pause at the end of this month to review and reflect on your progress.

To make this easier for you, we will be posting a free Mid-Year Review and Reflection Assessment download on our website later this month.  It has been updated for 2014 and is the same document we will be using with our 100’s of coaching clients.

So be on the lookout for this free download in the weeks ahead.

All my best to your continued success!

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