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Posts Tagged ‘Commercial Real Estate Commisisons’

The Dirty Little Secret About the $638,000 Commission

April 8th, 2014 No comments

It seems my blog post last week regarding our 2013 Earnings Report has created a lot of attention.  A few respondents felt the $638,000 annual average commission figure our clients earned last year was falsified at worse or greatly inflated at the very least.  Fortunately neither is true.

One colleague, whose opinion I value greatly, suggested my numbers where analogous to comparing the average height of an adult male to an average height to an adult male professional basketball player.  He felt the two cannot be compared in any valid fashion.  I disagree with the analogy.  Comparing height is comparing something one is born with, a genetic trait.  I have never heard of someone who was 5 feet 9 inches (my height when I need a haircut) and, after implementing a disciplined system, grown to 6 feet, 5 inches.  If there is such a system, someone please tell me now.

In this month’s Success Magazine, publisher Darren Hardy outlined “The Dirty Little Secrets of High Performers”.  Much of his editorial can be correlated to why some commercial real estate professionals are top earners, while others are not.  As he noted “The success of those you admire has less to do with inborn talent, intelligence, nature or any other gift and is more dependent on the process of creating and reinforcing successful habits that they built into their lives and environment.”

The beauty of understanding this is that anyone can become a superstar success.  All they need is the discipline to pursue and implement proven successful habits.

So can you earn $638,000 in commissions?  Again, this was simply an average of our one-on-one coaching clients.  Thus many make much more, and many make much less.  The key is all these folks are disciplined, follow our proven methods and create a new level of successful individual.

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Systemizing Your Prospecting

October 7th, 2013 4 comments

For many brokers, the hardest part of the business is prospecting. If you’re one of these people, your antipathy to calling makes sense, especially due to the combined challenges of starting up systemconversations with people that you don’t know and the additional risk of rejection. However, getting out there and prospecting is well worth it. Just one good call could turn into tens or thousands of dollars of income. One of the keys to successful prospecting is to take what could be a random activity and turn it into a systemized process.

The key to successful prospecting is momentum. When you get into a groove, you make more calls in less time. It also becomes progressively easier to pick up the phone after each call. The momentum also creates similar benefits on the call as you are able to use what you learn on previous calls to make subsequent calls more effective.

Building momentum can be challenging. Between all the interruptions that most offices bring and the tendency to procrastinate during your calling campaigns, you might find yourself just making a couple of calls at a stretch. Here are some techniques that can help you to increase your focus and make more calls in less time:

- Block out times to call. Making an appointment with yourself to get on the phone eliminates the excuse that you don’t have time to do it. If you treat the time as it is a meeting with a client and close your email program, switch your cellphone to silent mode and let incoming calls go to voicemail, you might be amazed at how much you get done.

- Sometimes “time” can be intimidating.  A “1 hour call block” may seem like 10 hours for some.  In these instances we suggest setting a “rep” goal.  Instead of one hour, perhaps the goal is 10 dials, or 10 connections.  The latter of course will take much longer to achieve, but setting a small “rep” goal can be the catalyst to quickly building a habit and growing from there.

- Plan your prospects. Instead of randomly paging through your database looking for people to call, take the time to predefine your dialing list. This makes it easier for you to go from call to call quickly.

- Pre-book follow ups. After each call, put an entry in your CRM’s calendar or your calling program to remind you to make your follow up call. Even if your call was not fruitful, consider booking a call for two to 12 months in the future so that you can touch the prospect again and have a chance at better luck. As you do this, you will find that you are making more and more pre-planned calls and fewer and fewer cold calls, reducing your planning time.

- Use an automatic dialer. Many customer relationship management (CRM) software packages can interface with a networked desk phone or with an Internet telephone on your computer to dial calls for you, saving you from stopping to dial and taking the risk of doing something else instead of dialing.

Prospecting might be hard, but it’s very fruitful. Spending a little time up front to set up a system and using your discipline to stick to it can make the process easier, and even more fruitful. Now stop reading this and go call someone!

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PGA Golfers are Like CRE Brokers

April 11th, 2013 1 comment

This week we have a special post from Doug Molyneaux.  Doug is a partner in COMVEST Properties and its subsidiary, Net Lease Developers, LLC. He is responsible for acquisitions and investment sales.  Learn more http://COMVEST.net.  In addition, Doug is a CRE coach with us at The Massimo Group.   Doug’s post “Increase your income like a PGA Tour player!” is timely with the golf season now in full swing.

golf

It’s Masters Week and I have golf on the brain.  The analogies between golf and sales are endless.  Except for sponsorships pro golfers are on straight commission.  There is no guarantee of a paycheck at the start of a tournament.  Game planning, goal setting and execution are all part of the golfer’s and broker’s playbook.  In this blog, I am going to focus on statistics.  Every tour player has them and every broker (or any salesperson for that matter) has them.  Do you know your stats?  If you don’t know your stats it becomes much more difficult, and maybe even impossible, to plan, achieve goals, improve your game or even execute.

You can go online and look up virtually any statistic on the top golfers in the world.  To illustrate the importance of tracking and knowing your stats, I have compared just a few statistics of the top 2 golfers on the money list with the average tour player on the chart below.  The numbers in parentheses are their ranking.  What can this chart tell the average tour player?

Player Driving Accuracy Greens in Regulation Putts per hole Scoring Avg. Season Earnings Earnings per Event
Tiger Woods 55.8% (147) 67.01% (81) 1.653 (2) 68.33 (1) $3,787,600 (1) $757,520
Brandt Snedeker 67.7% (18) 72.95% (4) 1.699 (10) 69.63 (4) $2,859,920 (2) $408,560
Tour Average 60.08% (90) 66.05% (90) 1.78 (90) 71.39 (90) $393,171 (90) $56,167

 

Let’s say my income goal is $1,000,000 and I am an average tour player.  What must I do to achieve my income goal?  One way to achieve that goal is to play in 20 tournaments this year.  Another might be to improve my putting by 10 basis points and play in 2 or 3 tournaments.  Has anyone seen Steve Stricker?

Now let’s apply this strategy to your brokerage business.  Below is a simple chart for prospecting statistics.  The first row assumes Average Joe Broker (let’s call him A.J.) is a twenty percent kind of guy across the board.  Can you see A.J. in a listing presentation saying “you should list with me because I am successful 1 out of every 5 times”?  The chart below assumes someone will answer the phone 50% of the time.   Between the first and second row of the chart A.J. read a book or hired a coach and improved his stats from 20% to 25%.  Maybe he read The Barron Blog.

Player Dials Conversations Meetings Assignments Closings Avg. Comm
Average Joe (A.J.) 250 125 25 5 1 $25,000
Improved A.J. 250 125 31 8 2 $25,000

 

How can these numbers help the broker increase his or her income?  One benefit to tracking stats is motivation.  If you look at A.J., who hates to make cold calls, and do the math, he makes $100 per dial whether someone answers the phone or not!  If I were to stand next to your desk and give you a Benjamin every time you dialed the phone, what would you be doing all day?  I can handle rejection all day knowing I make $100 (or even $20 for that matter) every time I dial the phone no matter what.  When someone tells you “NO” just say “Thanks for the hundred bucks” (to yourself).

I also can set realistic goals and achieve them if I know my statistics.  If I am A.J. and need to make $1,000,000 I have to dial the phone 10,000 times during the year, or 200 times per week or 40 times per day.

Finally, knowing your stats can help you make better investments in yourself.  You can look at your numbers and do the math to determine what skill you should focus on that will make the largest impact on your bottom line.  Should A.J. spend his money on a book about closing, a webinar on winning more assignments or a coaching program that considers every aspect of his business?  In the example above, A.J. made very small improvements in a couple of areas and doubled his income for the same number of calls.  In brokerage and golf you will find very minute differences between average performers and those at the top of their game.

Now if I have sold you on the importance of tracking your statistics, here are some key stats you want to keep;

  1. Source – what percentage of your business comes from cold calling, referrals, repeat client, company lead, etc.?
  2. Commission – what is the average commission per deal, and what is the average commission per deal for each source of business?
  3. Calls – as discussed above how times do you have to dial the phone to have a conversation, how many conversations do you have to have to get a meeting, how many meetings do you need to get an exclusive, what percentage of your listings turn into contracts, what percentage of your contracts successfully close and what is the average commission per closing?

For those of you who already track your numbers, I would be very interested in hearing your stats.  How much do you make every time you dial the phone, whether you speak to someone or not?

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Setting Your Team Up for Success in 2013

November 3rd, 2012 No comments

It is inevitable that when November hits many brokerage firms start looking to next year. Budgeting becomes a top concern for brokerages, while closing deals before year end is the focus for most brokers.

You want your team have a strong finish to the year, but you also want to put them in position for a fast start in 2013. Here are the Top 10 items we help our coaching clients with as the year starts to wind down.

 

  1. Analyzing their marketing campaigns to identify which ones were successful, which weren’t, and why.
  2. Reviewing transactions in the market to find emerging trends so that they can better focus their efforts in the coming year.
  3. Cleaning up their databases to remove inactive clients and add new owners or tenants for prospecting in the New Year.
  4. Building a list of every client they have completed proposals, presentations, or BOVs for so that they can re-touch
    them and hopefully build on their previous efforts.
  5. Setting up a holiday contact strategy that not only maintains relationships and builds good will but can also help to achieve business aims.
  6. Taking the time to build new marketing pieces so that they are ready to deploy them immediately after New Year’s.
  7. Setting up a contact list of the most important clients to touch in the first month of the year, ensuring they get off to a running start.
  8. Devising a strategy for booking meetings with their existing clients for a planning session in the first quarter of the year.
  9. Planning likely referral sources, whether they are existing clients, colleagues or vendors, so they have a strategy to have third parties sending them business, helping to magnify their prospecting efforts.
  10. Reviewing several key aspects of their brokerage business in 2012, as well as setting goals for 2013 so that their business can not only grow but also help them to grow both personally and professionally.

The end of the year can be an exciting time as the clients we work with both rush to close deals and try to enjoy the holidays for themselves and their families.  Our best clients also use the end of the year to prepare for the coming year. With hard work, a coaching-partner and a third party perspective, they will carry their success forward into 2013.

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International Author Shares 3 Keys to Sales Success

October 15th, 2012 No comments

Warren GreshesMASSIMO GROUP: Good afternoon this is Rod Santomassimo of the Massimo Group and welcome to this version of the Massimo Minute. This month we have a very, very special guest, Mr. Warren Greshes, who I am fond to say is a friend of mine. Someone that a client had introduced me to and told me, “Rod if you are in the North Carolina area, you have to reach out to Mr. Warren Greshes because he is an international phenomenon”. Of course I was curious to see who this gentleman is, so I reached out and gave him a call and several lunches later I am now proud to call him a friend. Warren is a professional speaker. If you haven’t read it, you should, he is the author of the best selling Best Damn Sales Book Ever, Sixteen Rock Solid Rules for Achieving Sales Success. Certainly Warrens a keynote speaker and speaks on issues such as customer service, sales and leadership. So Warren, welcome to the Massimo Minute and thank you very much for your time.

WARREN GRESHES: Oh, no problem. Glad to be with you Rod.

MASSIMO GROUP: It is certainly a privilege of us and our audience. The few minutes we have, Warren, it really hit home in today’s market place specifically with commercial real estate brokers. It is an extremely challenging market. This is probably true for any sales in particular. But tell me if you can, what are you seeing out there in the market place and certainly I am finding more and more people, I don’t want to say that it is a crutch while using and leveraging other tools such as social media, and certainly other platforms to try to get their message out. I surely think the social media has a place. Let me ask you, where’s this fits into the total prospecting package from the sales perspective?

WARREN GRESHES: I think, like you said, I agree with you. Social media has a place and has a definite place in today’s sales effort and today’s prospecting efforts. It is a great way to reach a lot of people in a very short period of time. It’s a great way to set yourself up as an expert. It’s a great way to find prospects. It’s a great way to focus in on specific niches in the market place.

But what I just said is not selling. See what I just said is marketing. There is a big difference between marketing and selling. I’m not an expert in social media, and I don’t use it as well as I could. I realize it is a real hot topic these days and I really see the benefit in using it; but I’m really scared that a lot of sales people are using social media as a crutch to not sell, to not have to talk to anybody one-on-one, to not have to pick up the phone, to not to have to get in front of somebody. There is a lot of pit falls in social media. Just as there are many pit falls in e-mail, which was another crutch. Sales people love e-mail, sales people love social media; because, they are lead to believe that if you use this you never actually have to go through the hard part of selling which is the picking up of the phone, or getting in front of people. In other words you never actually hear anybody say no via Linkedin Facebook, Twitter, or on e-mail.

MASSIMO GROUP: Very, very true. That is one of the reasons that most sales people utilize those platforms. But I agree too, it is certainly marketing vs. advertising something we use here in the Massimo Group. We say it is presence vs. prospecting. You know selling vs. not selling, creating that market presence. And certainly production goes nowhere just with the marketing side. You need to prospect, you absolutely need to prospect.

WARREN GRESHES Rod, you and I had this discussion and we talked about this. We talked about presence and prospecting. I really like that term you coined, presence and prospecting, I think that’s great. But remember I posed the question to you. If you had to go without one, what would be better off going without presence or prospecting?

MASSIMO GROUP: Well if you had to go without one, if I had to choose I would go without presence. Because you can’t go without prospecting.

WARREN GRESHES: Right. You cannot go without prospecting. I know people who have gotten clients on Linkedin and I know they have gotten clients through social media. But I got to tell you something, nothing takes . . . You know my father-in-law was a salesman and he is 84 years old. He doesn’t work full-time anymore, but he is still out there one day a week, maybe two days a week. And you know what; he is having a terrific year. And I don’t know how the heck he is doing it because he doesn’t have a computer, he doesn’t have a PDA, he doesn’t have a Twitter account, he doesn’t even know how to use a computer, he’s not on Linkedin, and he is not on Facebook. You know what he does? He gets in his car and he goes to see prospective clients, he goes to see clients, he on the phone with them all the time. And somehow this guy manages to do business without a Facebook account. How the heck is he doing that?

MASSIMO GROUP: How the heck is he doing it? At that age kudos to him. Hey Warren a few minutes left so I want you to give away all your 16 golden rules
I think people need to certainly take a look at what you have to say. But I want to ask you a question. If you can

WARREN GRESHES: Sure.

MASSIMO GROUP: Please give me three key ideas as far as if I want to prospect more effectively. What are some ideas you would have?

WARREN GRESHES: Okay. Well first of all know who you want to call before you call. Very simple. If you are going to be making prospecting calls via telephone or in person, your list should be set up the night before. I find a lot of sales people is what they do is that start looking. They make a call then they look up who they are going to call next, and they make a call, and then they look up who they are going to call next, and they make a call. They do this over and over again. And basically all they do is waste time.

You should also focus on who you want to deal with. I have a customer profile put together and know exacting who you want to call, what kind of companies, what kind of people, who are you looking for. I mean, you know in our business, we are looking for VPs of sales. We are looking for sales executives. Why? Because most of my audiences I speak in front of are sales people. I speak at a lot of annual sales meetings, big incentive conferences, and who’s going to make the decision on that. It usually a sales executive so who’s going to make the decision on what it is you are selling on your commercial real estate business, who is going to make the decision to buy it from you. And you want to first of all figure out where those decision makers are. That’s where things like Linkedin can come in. They can help you find those decision makers. Once you find those decision makers then you got to call them and then you got to set the appointments.

Do your calls every single day. I would rather see you do a little bit a lot rather than a lot a little bit. In other words, if you are going to make 50 prospecting calls a week, I rather see you make 10 prospecting calls a day five days a week then 50 calls once a week. Because if you do 50 calls once a week, you are not developing a habit. All that is going to happen is you are going to really dread one day. It is working out. If you work out a little bit every single day you are going to get in shape. If you work out a lot once a week you are just going to say, oh god who the heck wants to do this. The night before you are going to be dreading the next day and eventually you are going to say oh the hell with it. And the only time, as well we all know, the only time you only fail is when you give up. So do a little bit a lot not a lot a little bit. You know when I first started in sales, we didn’t have cell phones, we didn’t have laptops, we didn’t have all this technology.

I know I am sounding old here: but the fact in the matter is when I was on the road, when I was going on appointments I would stop at pay phones to make calls. I always had a list with me, a hand-written list of at least ten people I could call while I was in my car. Now with cell phones and PDAs, I mean I got a blackberry here, boy I could do it while I am driving. I know you are not suppose to. I am not encouraging that, but you can do it while you are driving. There is no excuse not to make the calls. I mean the biggest part of prospecting is you have to do it every day. You know there is an old saying, you are throwing up against the wall something is going to stick. I’m a big believer in that. The single biggest reason that sales people do not do business is because they do not talk to enough people. I’m not telling you don’t do e-mail, I’m not telling you don’t do Linkedin, Twitter, Facebook but they are in addition to. They are not in lieu of.

MASSIMO GROUP: Very strong, very applicable and so, so accurate. Warren Greshes, thank you so much for your time. But one last question before I let you go. I’m sure there are many people out there saying wow how this guy got me motivated. How can we get more? So Warren, is there a website? Is there something we can look for in regards you, your books, and your keynote speeches? Where can we direct them to?

WARREN GRESHES Well, my website is www.greshes.com obviously. And my e-mail address is warren@greshes.com. And so you can either e-mail me, go to my website, contact me through my website. You can find my book on there. There is a link to my Amazon page right from my website. All the information you need about my services and me.

MASSIMO GROUP: So there you go, a man who practices what he preaches. He does utilize social media but he also prospects proactively and aggressively. So Warren Greshes thank you very, very much. And till next time this is Rod Santomassimo with the Massimo Minute. Talk with you soon.

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CRE Brokerage Management Challenge 4: Operations

August 23rd, 2012 No comments

With all of the challenges in managing the real estate brokerage end of a real estate brokerage office, many managers forget about the office. After all, office management is tedious and administrative, right? Wrong. The best offices are run by managers who look at office operational management as another tool to help them implement their vision. The way your office feels should reflect what you want your office to do.

Good operational management starts with setting up your own policies. Even the smallest things can have an impact on how your associates behave and on how your office ends up performing. Are your office’s official hours from eight to five or from nine to six? Can associates rifle through incoming faxes themselves or does your staff review the faxes, collate them and deliver them to the agent’s inboxes? Are Fridays casual for everyone? For no one? Or just for associates that hit certain performance benchmarks? The smallest operational issues can have an impact on the psychology of your office.

Managing resources also impacts performance. What do you provide for associates and what do you expect them to provide? Bear in mind that if you give them something, you can control how they use it. For instance, some managers provide free color printing to their associates, but have their staff control the printer. This not only gives the staff a chance to proofread anything before it gets printed, but also makes it easy for them to capture every file that gets color printed – building an archive that could be useful if an agent loses their copy or if the agent leaves the company.

Containing costs is crucial. After all, your profit is what is left over after paying your brokers their splits and paying the bills. Have your staff rebid every contract once a year. This will keep your vendors honest and will save you money. You’d be surprised how much saving fifty cents per ream of paper can add up to.

These are just a few broad areas but they should get you thinking differently about operational management. While minimizing cost is a good way to affect your bottom line, using your office as a tool to improve productivity and morale can have a much broader impact on your brokerage’s prospects.

Now that we’ve covered the biggest challenges facing owners and managers today, we’re ready to talk about the most important thing – the next stage for you and your business. Check back soon!

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10 Questions for Mid-Year Check Up

May 30th, 2012 No comments

It’s certainly time to start preparing for your mid-year review. Whether you have a manager or owner who is holding you accountable or you work independently, this is the time when you need to take a step back as ask yourself “how am I doing”?

It’s easy to simply look to your pipeline and review the opportunities you have in process, as well as the amount of commissions you have closed year-to-date. However, this will only highlight the results of your efforts over the past 12 months and not necessarily those of the past six.  Don’t get me wrong, income is certainly a key indicator, but you have to look beyond your income to determine how you have progressed since January and more importantly how you will create income in the future.

Here are 10 questions you should ask yourself, and be as brutally honest as you can with your responses.

  1. What was your income goal for 2012.  Based on your closing, pipeline and over all opportunities, where do you project your income to be on December 31?
  2. Who are your top 10 clients for this year and how are you retaining those relationships?
  3. How many prospect meetings have you held year to date, and how many have led to representation/listing assignments?
  4. What are your top three sources of leads and how do you plan on leveraging these sources for the next six months?
  5. How many relationship building (not prospect) meetings have you held?
  6. How have you created a personal presence with your sphere of influence?
  7. How have you engaged your “Top 100” thus far?
  8. How much time did you allocate to working “on” your business, versus “in” your business?
  9. How many hours a day are you productively giving your brokerage business?
  10. What initial goals have not been met in 2012, and what are you doing about it?

Self-reflection is not easy, but it is essential if you want to continue to move forward and grow your brokerage practice.  Now is the time to make corrections in your 2012 plan.  Make them and you will enhance the likelihood of meeting your goals.  Ignore them and you may be setting yourself up for a less than spectacular 2013 and beyond.

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Winning the Exclusive – Preparing for the Big Meeting

May 5th, 2012 No comments

Congratulations, you secured an invitation to present your proposal to a client. You can’t hit a home run without getting to bat, so now it’s time to take your swings.  Forgive the baseball analogy; corny as it is, it is true.  Now what do you need to do to make your presentation a success and win the listing or representation assignment?

If you haven’t already, and the opportunity is for a listing, get out to the property and become an expert on it. Take pictures, drive the neighborhood and drive all of the comps you will be using in your proposal. You should also do research on the area to ensure you are aware of any upcoming projects which could affect the marketability of the asset.    If this opportunity is for a tenant or landlord representation, find out everything, and I mean everything, about the company/owner.

We see  listing and representation presentations, almost daily, from across North America.  Many miss the point of the proposal.  Prepare a presentation you can be not only be proud of, but also addresses the specific needs/issues of the opportunity.  Believe it or not, many brokers frequently just slap a few pages together and hope for the best. If you’ve been invited to present, you can be pretty sure your competition was invited also. Put your best foot forward and prepare a well-structured proposal.  Remember, “You Can’t Wing It to Win It”.

Practice. Then practice some more. Make sure you know what you are going to say and that you can say it concisely and convincingly. Brush up on your ability to overcome the client’s objections. The best way  to do this is to role play with a mentor, colleague, your coach or your spouse.  Don’t laugh, my wife has  improved a vast majority of my speeches.. then again maybe she enjoys correcting me.. but I digress.  Whoever  you use, encourage them to throw you some curve balls, to make sure you can think on your feet when the time comes.

I know I just told you to prepare a great presentation, but when you get in front of the client, remember the most important thing is your ability to tell the story, which is completely different than telling your story.  It’s not about you.  It starts with telling the story of the opportunity and how the client sees it. Once you’ve told that story, you can tell the story of why you are the only plausible broker to service the account.  The presentation keeps you in the game, but articulating the right story is what wins you the business.

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Brokerage Lessons from a Wild NCAA Weekend.

March 20th, 2012 No comments

They call it “March Madness”, and I was mad as hell on Friday night as I watched my beloved Duke Blue Devils wilt under the pressure of a more prepared, better executing 15th seed. A 15th seed! How could this happen, how could such a lowly competitor beat the national beast?

As it turns out, it was fairly simple. As a “coach” myself, I read deeply into the “coach speak”. How coaches prepare their players for competition and how they respond when the contest is complete. Some of the comments resulting from Mike Krzyzewski, the coach of Duke and Dr. Brett Reed, the coach of Lehigh, resonated directly to why many commercial brokers win listing assignments, where others have failed.

Let’s first look at the preparation of the competition. When asked how Lehigh would prepare for Duke, Dr. Reed noted, it was not a matter of looking at Duke and determining where they were most vulnerable, but instead, you must look introspectively at yourself, your team and your support staff and reinforce the skills you possess and the passion you bring every day. You need to trust yourself and your team that you have put yourself in the best possible position to win. Brokers who win the listing, whether they are with a national power firm, or simply a boutique independent, focus on why they should be the only choice to an owner/investor or tenant and position their presentation (game strategy) to best reflect this.

During the contest itself, it was later reflected by coach K, that one of the main reasons they lost the game was xxx the players from Lehigh were “bold”, where as his team was out of synch. How many of you go to a listing presentation with a “bold” approach. Bold, by its very nature, demands confidence and a touch of aggressiveness. Does your listing presentation say
“why us”, or “why not us!”?

After the game was won, Dr. Reed asked his team if they were happy, and every player said “yes”. They had prepared for the competition, executed to perfection and withstood against the continual odds against their success. But Dr. Reed followed up by asking his team if they were satisfied. And this time, to a man, they said “no”. Winning a listing or representation assignment is only the first step. Being “bold” and aggressive in both your pricing and marketing will ultimately reflect if you move forward, or simply inventory your opportunities.

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Brokerage Lesson From a Vail Ski Lift

March 4th, 2012 5 comments

This past week I took a long weekend (yes we all need to take a day or two away from commercial real estate) and headed to Vail, Colorado for some skiing with some friends.  Some of these friends are commercial brokers, like you, and one particular friend, Jason of CNL, I had not connected with in quite some time.

Me, Jason and Dave

During one of the many ski lift runs Jason ask me “Rod, so you guys are trainers right?”  Not only was his impression of our company incorrect, his comments highlighted the glaring mistake that I had made, and many brokers make when it comes to our friends.  We assume they know what we do, and do not make the focused effort with our friends to consistently remind them of what we do, or provide examples of how we work with our clients.  You see, it wasn’t Jason who made the mistake; it was me who made the error by not keeping him apprised of our services and success.

In past Massimo Minutes, I have stressed the importance of presence.  I have outlined the three essential elements of creating and maintaining presence and outlined the key targets to direct these efforts towards.  These targets include clients, prospects, market makers and influencers.  There are certainly more extensive and detailed targets, but that is beyond the scope of this article.

Two key targets in your individual presence campaign must be your friends and family.  Why; because I can guarantee you that most of them simply think of you as “a broker”.  They have little idea of what exactly this means and how you personally work with clients in a variety of ways to assist them in achieving their personal and/or business goals.

As for Jason, I had the luxury of sitting next to him on several subsequent ski lifts and shared with him how we work with individual brokers, brokerage teams and companies in our coaching and consulting practice.  How our entire organization is positioned to maximize our client’s brokerage income.  I shared with him that most (not all) trainers are vendors, where as we pursue the role of being partners and trusted allies in our client’s success.

The Massimo Minute is distributed to tens of thousands of commercial brokers, many of my friends and all of my family members, and now Jason as well.  The next time you send out  an email blast, success story, white paper or postcard think beyond the obvious targets and be sure to include your family and your friends, for they will be your biggest champions should they hear of an opportunity that may be a great fit for you.

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