Real Estate Moms Blog

Time for a Fresh Start

noreply@blogger.com (Coach Cheri) — Thu, 15 Apr 2010 00:46:00 +0000

by Cheri Alguire

The tax credit has almost expired, now what?

Well, the good thing is that it is SPRING!

I saw some flowers off the trail on a recent hike. It reminded me how much I love Spring.

I love the fresh starts. Beginning all over again. It's like hitting the refresh button.

And now that we are finally getting some good news about the economy, maybe it will be time for some of those old stall leads to finally buy or sell.

Spring is always a good time to check in with leads, past clients and your sphere. You can either call them, or try sending a greeting card with www.CardsForRealEstate.com

There are also more and more Expired Listings out there. Agents all across the country are having fantastic luck with www.ExpiredRealEstateLeads.com

Whatever you are going to do to boost your business this spring, NOW IS THE TIME!

Our coaching clients are experiencing fantastic results from having a great plan, a sounding board, and an accountability partner. Maybe it is time to talk to one of our coaches at http://www.Prorealestatecoach.com to see how we may be able to partner with you to take your business to the next level this spring.

I have had clients who have had a tough year.

I have had clients that have had an amazing year.

And everything in between.

No matter what kind of year you have had, it is time for a fresh start. No matter what challenges you had yesterday, you can create your own tomorrow.

Happy Spring!

Tips for Real Estate Moms

noreply@blogger.com (Coach Cheri) — Tue, 09 Mar 2010 21:57:00 +0000

By Katrina Eileen

As a working mother sometimes from morning ‘til our heads hit the pillows at night we are going. Taking care of clients, children, husbands, PTA, church & organizations that matter to us, the home, the car, balancing the bank account, bills, the yard, opening the mail, packing lunches, calls from school, finding babysitters, mothers, fathers, you name it - it can consume us.

How can we balance business, family and all of the things that are important to us in our life is the key to living a life that we love. Here are a couple of tips to maximize your effectiveness in business while being available as a mom to your kiddos.

Turn off your cell phone - It was a wakeup call for me the day that, while we were sitting down for dinner; my kids asked if we could have a rule that we don't have any cell phones at the table. While I would never take calls at the table I would forward incoming leads to buyer’s agents or shoot text messages and answer texts from members of my team. I thought these were flying under the radar. Guess what, they weren't. I laughed at myself and then realized that what was important during these few precious hours that I had with my children was them and that as long as my mind was divided so was my attention. One of the best choices that you can make for your relationships is to be fully present to the people that you are with. I actually had to turn my phone on silent and leave it in the other room. Even having it in the same room I would sometimes absentmindedly pick it up, just to glance at it and get roped into some form of, "oh wait! just a sec...gotta send a quick...".

Schedule family time first - Take some time once a month to look over the next month or quarter and write in time for you and time for your family. When you schedule that big vacation you always make time for that. Why not schedule smaller respites throughout the month or quarter even if it is just for a day or even a couple of hours. Treat these as one of the most important appointments you have, when talking about them always refer to them simply as an important appointment. There is no need to let anyone know the nature of your appointment. This is time to connect to what is most important in your life.

When you are working - WORK!

W hat are your dollar productive activities
O rganize and delegate the rest
R elax...breathe, remember why you are here and what your intention is
K eep focused

In coaching I like to work with my clients in creating a customized plan of action for implementing their business plan and maximizing their effectiveness. What you will find is that work may have taken a 10 or 12 hour day to complete may only take you 4 - 6 hours. Yes, you can actually create more time in your day. Whether you are Bill Gates or the Average Joe on the street, there is one thing we all have in common, 24 hours in a day. How you are spending yours will directly translate in the level of success you experience.

How do you stay focused, genuinely motivated and on track to succeed at whatever you endeavor in life? You find your true passion; you find how what you are doing or not doing now will help you live that passion. One very powerful tool that I utilize is the balance wheel. If you'd like a copy of this you can request it here. http://www.prorealestatecoach.com/pages/contact-us.htm This is one of the most effective tools I use is coaching.

Having a coach is vital to me both back when I was building my real estate business and still as a coach, a mother and personally as a woman. I feel it is so important to have a voice, an advocate in my life who knows my aspirations. This person helps me see where I am now on the map and helps me to clearly understand where I want to go and where that is on the map. Then, together, we can draw a bridge from point A to point B on that map.

When I found myself floundering, not working but spinning my wheels, feeling overwhelmed, constantly moving but never seeming to make any substantial progress, coaching was what was missing. When I began being coached and being coachable is when I found satisfaction, accomplishment and balance. Maybe you are ready to move ahead as well. Maybe it is time for you to hire a coach.

TIME MANAGEMENT AND DELEGATION

noreply@blogger.com (Coach Cheri) — Tue, 16 Feb 2010 04:22:00 +0000

By Cheri Alguire

Remember the “best made plans of mice and men often go astray?” The old adage applies readily to your business plan if you do not manage your time effectively and/or delegate activities when needed. You can have the most inspirational vision, the tightest budget, the most sensible production plan, but if you do don’t have the time or resources (staff) to accomplish the goals, you are little better off than when you started.

To better understand the importance of the concept of time management, take a look at how you spend you time when working. Begin with a work day and then expand your analysis to the entire week. How much time do you spend “IN” the business? This refers to the crucial everyday details of the job. It includes the showings, the opens, the listing appointments, and the negotiation of contracts. How much time do you spend on the technical aspects of the business? The accounting, the scheduling, the entering of data and working on files? Without question, this can take the lion’s share of any given work day. However, danger awaits you if that is the case.

Working “ON” the business is vital if your business is to ultimately succeed and cannot be ignored. These tasks include management of the business and visionary activities. It includes mentoring, motivating, training and tracking accountability. It also includes “the big picture” activities like studying, reading, attending speakers and seminars. The problem with working ON the business is that it is too easily set aside for the daily “put out the fire” duties of tending to clients and paperwork. But that is why it is critical to create a physical time management plan that you abide as religiously as your budget. Chart it out, mark it in your Outlook calendar, and pay attention to it.

Similarly, you must think ahead in terms of the number of tasks that have to be completed to successfully make your business run. You cannot do it alone. Again, you cannot do it alone. (At least, not for very long.) Remember early on in the business planning process, we referred you to THE E-MYTH? Revisit it again in order to (re-)learn the lesson of wearing all the hats. Probably the best way to delegate the work load of the business is to create and refer to the resources chart and written job descriptions. If it’s not your job—delegate! If the person responsible isn’t doing the job, confront the problem and replace him/her as needed. You are running a business. Without delegating responsibility, you are doomed to crash and burn. And you won’t be having any fun, either.

Coach Cheri Alguire has helped hundreds of Super Small Business Owners, Realtors, Managers and Coaches create Business and Life Plans. Check out http://RealEstateBusinessPlanningGuide.com or http://www.SmallBusinessPlanningGuide.com/ contact us today at http://www.CheriAlguire.com

Business Planning Tip: the Production Plan can be more effective if you plan for the stuff behind the numbers

noreply@blogger.com (Coach Cheri) — Tue, 03 Nov 2009 01:19:00 +0000

By Cheri Alguire

Like the budget, writing a production plan for success is a lot about numbers. Black and white. Hours, dollars, and widgets. There is a sensible layout to follow. You map out the big picture by breaking down your transactions to quarterly and monthly goals. You examine the buyer sales, listing sales, and number of new listings it takes to produce the income needed to support the budget. Easy, right?

Well, straightforward, maybe. Easy, no.

Production planning is as much about problem solving and perspective as it is about the numbers. Why? Because you know you will not always hit your numbers. (If you do, you probably were not challenging yourself enough during the visioning process.) And not hitting the numbers obviously means you have a problem. You may be overspending the budget and/or underproducing the income. Not hitting the numbers for an entire quarter might not just mean a problem, but a genuine crisis.

So it is important when production planning to focus not just on target numbers, but on the potential problems related to production so that you can plan proactively to stay in business with a smile. Lets look at some Givens.

#1 You are in control of more than you think. If you chart the numbers for first quarter and fall short, what do you do? (First of all, you always review the numbers.) If first quarter is lean, be prepared for you and others to blame outside influences. Oh, the market. Oh, those fickle buyers. Oh, those unrealistic, so-and-so sellers. Oh, those banks. Slap yourself and your teammates awake! The market is what the market is. Buyers and Sellers are simply responding to it. YOU are the expert. YOU need to take control. Take control of their expectations. Take control of your own emotions. Adjust your numbers if necessary for the rest of the year, but take control of your sales. If you were successful before this market, there is absolutely no reason you can’t be successful now. You have the experience and the skills. If you are new to this market, you have no excuse to be anything but successful because you don’t know the difference! If you were three sales short in the first quarter, plan now what it takes to make up those three in quarter two.

#2 There are some things you cannot control. Let go! A teammate’s sudden divorce is going to affect your business. No doubt about it. Can you influence that event? No. (Even if you offer the unhappy couple an all-paid expenses weekend at the Poconos in a heart-shaped tub, their relationship will not change because of your generosity and desperate attempt at keeping your top buyer agent happy and productive.) Curse fate all you like, but know that the teammate will have court dates, down days, and need extra time off to be with the kids. Let go off the idea that life is unfair and provide as best you can for the loss in production through your own efforts or added staff. Know that these things happen. Deal.

#3 Not to overuse and abuse the often quoted, Attitude is Everything, but it is. The mindset you get up with every day determines the success of your production plan. Is the market everything you read about in the papers or hear about on the TODAY SHOW? Is the sky really falling? If you believe it, your numbers certainly will reflect that view, (and you will need to hope that your spouse doesn’t mind supporting you for some time to come.) On the other hand, if you wake up each day seeing opportunity and, yes, fun in the current real estate market, your numbers will bloom and grow with every positive step. It’s not a Pollyanna world, but neither is it Oscar the Grouches. Your perspective determines outcome.

Plan for the numbers. Plan for the problems. Plan for success.

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Coach Cheri Alguire has helped hundreds of Super Small Business Owners, Realtors, Managers and Coaches create Business and Life Plans. Check out http://RealEstateBusinessPlanningGuide.com or http://www.SmallBusinessPlanningGuide.com/ contact us today at http://www.CheriAlguire.com

Budget: A Necessary Part of a Good Business Plan

noreply@blogger.com (Coach Cheri) — Mon, 19 Oct 2009 17:44:00 +0000

By Cheri Alguire

With the constant bad news about the economy, everyone is talking budget these days as if it were a new and exciting phenomenon—just discovered!

How to save a buck
How to budget for a successful future
How to make your dollar stretch the farthest

The truth is that there is nothing new, trendy, or sexy about budgeting. A well-planned budget is simply the most practical aspect of your business plan—and one of the most important. It’s also not that much fun. But if you think about it, if you have completed the other parts of your business planning guide, you’ve done the hard part already. You’ve already analyzed where you spent your money last year and how well it returned your investment. You’ve articulated the vision for your business in the next year, five years, and ten. You’ve written down the action steps to achieve that goal. Now it’s just a matter of the numbers.

The easiest way to tackle this job is with a good software program like QuickBooks, but you can also manage the old-fashioned way, by hand on a chart, if that’s what it takes to get you started. The budget records your total income, gross and net. It includes the numbers for your current expenses, plus those you anticipate adding under your new vision. It breaks down the expenses and itemizes them so that nothing is overlooked, creating a potential drain on your cash flow down the line. And remember: cash flow is the goal.

When the numbers are complete, if you don’t like the result, you need to remember to reevaluate the plan. If your marketing exceeds your income, for example, then you must make a decision: slash the marketing budget or make more money. Either way, your budget needs to “show you the money.”

Approach #1: Gary Keller reminds us to “lead with revenue” when budgeting. He cautions only to spend the money that the business has generated and avoid the “Field of Dreams” mentality of expecting business to materialize if you spend enough money on marketing, desk staff, quality equipment, etc.

Approach #2: Write down the number of marketing dollars you will need for the next year to reach your goal then do the math. How many lists will you need to carry in order to create that cash flow? How many will you need to sell? How many buy sides? Those are your numbers to live by.

Truth be told, a combination of these approaches is probably the wisest course, but regardless, the budget is the budget and you stick to it. (That’s the unsexy part.) But don’t worry about that because this axiom can serve you well when some annoying vendor tries to convince you that you really must buy his refrigerator magnets by the gross with your logo embossed on them in order to be a success at the next home show. You now have your ready-made excuse: “oh, we set our marketing budget last October.”

The budget might not seem to be your best friend at times, but it should be your wisest adviser—the one you trust with your most important decisions. Accordingly, spend enough time with it to do it, and yourself, justice. Your business, and your profit/loss statement, will thank you.

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Coach Cheri Alguire has helped hundreds of Super Small Business Owners, Realtors, Managers and Coaches create Business and Life Plans. Check out http://RealEstateBusinessPlanningGuide.com or http://www.SmallBusinessPlanningGuide.com/ contact us today at http://www.CheriAlguire.com

Why a Development Plan is Critical to Your Business Plan for Next Year

noreply@blogger.com (Coach Cheri) — Mon, 05 Oct 2009 17:40:00 +0000

By Cheri Alguire

It is almost time to begin creating your Business Plan for next year. One important part that is often overlooked is what I call the Development Plan. A Development Plan helps you to look at your overall business in different specific areas.

A great story is told by Jeffrey J. Fox in HOW TO BECOME A MARKETING SUPERSTAR. It is the story of Pablo Picasso, dining at an elite New York City restaurant and being approached by a socialite who presumes to ask him for a drawing.

Fox relates, “Picasso grabbed some paper, and with pen and pencil, promptly sketched the waiters passing parfaits. As the woman reached for the sketch, Pablo Picasso said, ‘Madame. That will be $10,000.’ Shocked, she replied, ‘But that only took you five minutes.’ ‘No, Madame,’ replied Senor Picasso, ‘it took me fifty years.’”

Fox tells the story as a parable for understanding—and charging--your worth. (And come to think of it, that part of the lesson applies here, too: a solid development plan will help you avoid the folly of cutting your commission fees.) But we recognize Picasso’s remark about the fifty years as a clear symbol of the value of a development plan. It takes time to plan, but the plan should have long-lasting consequences that shape the course of your business down the road and, ultimately, your desired profit. A development plan, in effect, defines your practice.

A development plan can be as simple as a list. But it is an essential list. On this list you need to itemize the changes needed in the next year to improve your business. On it you should include:

Marketing and Lead Systems
What kind do you need to bring in the number of leads?

Sales and Servicing Systems

Technology
What about Facebook?
What about Twitter?
What about Texting?

People and Staffing
Do you need an office manager?

Support Systems

Training

Policies
What are they? And are they written down?

Procedures
Ditto

Team Development
Retreats
Celebrations
Training

New Ideas
What is next?

This is the place where you name your dreaming: what is it that you want to create? To revise and perfect? To research? To implement? What kinds of systems and practices do you want to employ? What people and roles?

At the development stage, you may be looking at assistants, additional agents, coaches, mentors, equipment, programs, and education. (Budget concerns are for another day.) In development, we identify what it will take to produce your desired outcomes. Put them in place, and the path toward your business future is paved.

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Coach Cheri Alguire has helped hundreds of Super Small Business Owners, Realtors, Managers and Coaches create Business and Life Plans. Check out http://RealEstateBusinessPlanningGuide.com or contact us today at http://www.CheriAlguire.com

Business and Life Planning

noreply@blogger.com (Coach Cheri) — Mon, 21 Sep 2009 14:00:00 +0000

By Cheri Alguire

Happy Fall! Autumn officially begins on September 22, but having the kids back in school is almost a better marker for the beginning of fall for me. It is like the TV commercial with the mom singing it is the Hap-Happiest Time of the Year!

I spent 10 days in August celebrating my birthday and doing some hiking in Park City, Utah. What a beautiful area.

For me, hiking is not only a way to get exercise and see some incredible sites (yet we did experience both of these,) it is also a time for me to plan and dream and set goals for myself.

Each year on my birthday, I set goals for the next year in both my personal life and in my business. I have been doing this for many, many years. It is amazing what can be accomplished with a little thought and dedication to it on a monthly, weekly and daily basis.

I am not sure if it was because my birthday ended in a zero this year, or it is just where I am in my life right now, but I had the most amazing time creating my life plan for the next few years. I am really excited about where I am going and the things that have already begun to fall into place since working on my life plan in August.

Now that I have finished my Business and Life Planning, I am going to begin getting my coaching clients started on this process. Ask about it during your next session or check out the eCoaching program if you would like to work the guide on your own.

Also, if you have been thinking about hiring a coach to help you with your 2010 Business and Life Plan, maybe it is time to look into business coaching. We have some great coaches at www.ProRealEstateCoach.com or www.CoachCheri.com

Real Estate Scripts: FSBO Objections

noreply@blogger.com (Coach Cheri) — Mon, 14 Sep 2009 21:39:00 +0000

By Cheri Alguire

I am often asked, “What do you say when a For Sale By Owner seller says [asks]…?” I always have an answer for every FSBO objection, but only because I have the advantage of both knowledge and skill over the FSBO seller. Here is a list of common FSBO seller objections and a quick follow-up statement for the listing agent.

They say: “I’ll save money. I won’t have to pay realtor commissions.”
You say: “Well, you may save a portion of the commissions; did you know that over 90% of the For Sale By Owner homes are sold by realtors?” (FSBO response) “So, we are really talking about saving the seller side of the commission. Is it worth saving a small percent of the sales price, knowing you will eliminate the vast majority of buyers from even looking at your home? When would you have time to discuss a plan for selling your home?”

They say: “I am going to see if I can sell it on my own.”
You say: “Good! Have you considered what type of buyers look at For Sale By Owner homes?” (FSBO response) “Agents work with qualified buyers, people that have the means to secure loans or may be cash buyers. What arrangements have you made to assure your potential lookers are qualified buyers?” (FSBO response) “That is interesting. Do you have time this evening to get together to discuss a plan for pre-qualifying buyers?”

They say: “I have an ad in the paper and I’m going to put it on Craigslist”
You say: “Wonderful. What other methods are you using to expose your home to potential lookers?” (FSBO response) Do you have time to meet this weekend so I can share a few other ideas with you?”

They say: “I have someone who is interested.”
You say: “That’s great news. Are you aware of the pre-negotiation strategies that will assist you, as the seller, to secure the best possible offer without waiting days upon days?” (FSBO response) “Would tomorrow morning work for us to review the strategies?”

They say: “My friend is an attorney, so she is going to do the paper work.”
You say: “The four big steps in getting your home sold are: exposure, responding to buyers, negotiating and the paperwork. I am just curious, how is your friend going to assist you with the other three big steps?” (FSBO response) Would you be able to meet tomorrow during the day or in the evening to discuss these three big steps?”

They say: “I can’t afford to list with a realtor. I need every cent of the sales price.”
You say: “I understand. How did you determine your sales price? (FSBO response) “Great! Are you very familiar with the current market facts?” (FSBO response) “Would you have time to meet Monday or Tuesday evening to review the current housing market facts? I could do an estimate of proceeds for you to help you determine your bottom line.”

They say: “I can pay $500.00 to have my home on the MLS.”
You say: “Great! The MLS is one way to expose your home to agents who are working with buyers. What plans have you made to expose your home to buyers who are not yet working with realtors?” (FSBO response) “Would five or seven o’clock work for us to review how we capture interested buyers?”

They say: “I don’t think realtors are worth their money.”
You say: “Selecting a top realtor is a serious and important process. How many realtors have you interviewed for the job of selling your home?” (FSBO response) “Why don’t we meet this evening and I can assist you in writing the key questions to ask every realtor you interview.”

They say: “I know my home better than any realtor.”
You say: “I am sure that is true. I am going to be in your neighborhood previewing homes that compare to your home. Knowing your competition can give you a huge advantage. Would you like to join me?” (seller response) “Do you have any other selling concerns I can assist you with?”

They say: “I have a friend in the business who is giving me advice.”
You say: “Great! We can make your friend a partner in the process of selling your home and not miss any valuable market time. That way you know you’re getting the best advice. Can you meet tonight?”

They say: “Will you cut your fee in half if you sell the home?”
You say: “No. Are you very familiar with how the brokerage commission splits work through the MLS system? (FSBO response) Would you have time to meet tomorrow afternoon or evening?”

They say: “What can you do that I can’t do to sell my home?”
You say: “There are several factors that go into selling a home. A seller is responsible for and in control of two of the major factors (condition and price); the location is a given, and the forth factor is the realtor’s responsibility (marketing). Would you have time tomorrow to discuss the four factors?”

They say: “I heard that agents will still show my home if I just have it on the MLS.”
You say: “It is true, that some may show it. What arrangements have you made for compensating agents that show your home?” (seller response) “I may have some suggestions for you on how to attract more agents. Are you available tonight to discuss a few options?”

They say: “I do not want unsupervised people in my home.”
You say: “You’re right. Security is an important issue. However, as realtors we take several steps to maintain the security and integrity of the home buying process. Are you available this evening to discuss the steps we take to keep homes secure?”

They say: “I sold my last home myself.”
You say: “Good for you! What has to happen before you will consider interviewing a top agent who can get your home sold?” (FSBO response) “Can you meet this evening?”

They say: “I just want to try selling it myself for thirty days.”
You say: “Ok. I’m curious, if I brought you an offer that was 95% of that amount, how would you proceed?” (seller response) “If I could get you top dollar for your home in the next 30 days, would you list today?” (seller response) “Can you meet this evening to review our plan?”

Two Plus One

On the surface, FSBO objections have a dual focus: brokerage commissions and price of the home. After extensive interviewing or conversation, the peel back process will reveal the underlying concern or the true objection. The one big objection all FSBO sellers have in common is simply: realtor worth (or a lack of understanding of our value.) The challenge is getting the FSBO seller to understand and accept your value. One strategy is a comparison of your efforts (marketing, exposure, response time, access, availability, follow-up, feedback, legal forms, representation, fiduciary duties and negotiations) to their efforts (an ad, Craigslist, maybe MLS, limited web exposure, a sign, a friend in the business, or whatever). Once the comparison is made it should be a simple close.

Your Value

As realtors, you all compete against each other for listings. In the FSBO arena, your competition is extended beyond realtors to the actual seller. Your competition is the seller. Remember: Do not insult or belittle the seller’s efforts. They believe they can do your job and do it better. Focus your presentation on your worth, your point of difference, the true value you bring to the table. This is the only way to be a true champion in the FSBO arena.

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Coach Cheri Alguire has coached over a thousand Realtors on scripts and other skills needed to take their business to a new level of success. For more information on her real estate coaching program, check out www.ProRealEstateCoach.com or ww.FSBORealEstateLeads.com

Real Estate Scripts - Potential Seller Objections

noreply@blogger.com (Coach Cheri) — Mon, 10 Aug 2009 21:04:00 +0000

By Cheri Alguire

I am often asked, “What do you say when a potential seller asks…?” I always have an answer for every objection, but only because I keep the objective of the conversation IN MIND at all times. Here is a list of common seller objections and a quick follow-up statement for the listing agent.

They say: “I am going to try to sell it myself.”
You say: “I am just curious, how do you plan on marketing your home?” “…representing the buyer?” “…responding to buyer leads?” “…being available for buyer showings?” (seller response) “If you had a proven plan for selling your home at top market value, would you be interested in using it?”

They say: “I am not going to give my house away.”
You say: “Good! I prefer to work with sellers who believe in the market facts and are willing to negotiate from a position of equity and strength. When would you have time to get together?”

They say: “It is not a good time to sell.”
You say: “I know that it is almost counter-intuitive; the supply and demand ratio indicates that this is a good time to be on the market. We are at a _____ month low in ‘homes for sale’ inventory. The demand remains high due to the low interest rates, the tax credit and the declining number of foreclosures available. Do you have time to meet this weekend?”

They say: “I am going to talk with other realtors.”
You say: “That’s fine. Help me understand. What is it that other realtors will provide you that we have not discussed?” (seller response) “Would tomorrow morning work for us to review the differences between my plan to sell your home and my competitor’s ideas?”

They say: “We have to do several things prior to listing our home.”
You say: “The two big steps in getting your home on the market are meeting with a realtor and preparing the house for the market. Would you be able to meet tomorrow during the day or in the evening to discuss them?”

They say: “We are waiting for the neighbor’s home to sell before we go on the market.”
You say: “What could possibly be more convenient to potential buyers than having two homes in the same neighborhood available at the same time? I am going to preview your neighbor’s home, would you like to join me?” (seller response) “Would you have time to meet at your home after our preview?”

They say: “Yeah, but my home has (seller’s exceptional home feature).”
You say: “If both properties are equal except (seller’s exceptional home feature), and both homes are priced the same, then your home will be the first to sell. Can you meet tonight?”

They say: “I know most people don’t like busy streets, but we think it is a real advantage to be so conveniently located.”
You say: “Location is always a factor for potential buyers, and we will secure feedback from every buyer who views your home. When is better for you to meet, Monday or Tuesday evening?”

They say: “I want to sleep on it.”
You say: “That sounds good. I will call you in the morning to see if you are ready to put your home on the market. Do you have any other questions on the selling process? (seller response) “Do you have any other selling concerns I can assist you with?”

They say: “I have a friend who may be interested in purchasing the home.”
You say: “Great! We can make your friend a ‘timed-exclusion’ to the listing contract and not miss any valuable market time. That way you know you are getting top dollar in today’s market either way. Can you meet tonight?”

They say: “I want to fix a few things first.”
You say: “If you do not mind, I would like to review your list with you. Just to make sure the items you are doing will ‘help’ the sale of your home and be worth your investment. Would you have time to meet tomorrow afternoon or evening?”

They say: “I am too busy with the holidays coming up.”
You say: “I understand the extra effort the holidays take. However, what we have found with the holidays is that homes look and show their best when they have received that extra holiday touch. When do you expect to be ready for the holidays?” (seller response) “How would the next day work for us to meet?”

They say: “I heard that there are companies that will put my home on the MLS for a small fee.”
You say: “This is true. What marketing and services do they provide?” (seller response) “I took a few notes, are you available tonight to compare those notes to our marketing and service plan?”

They say: “We want to think it over.”
You say: “You’re right. This is a huge decision. However, if you are ready to list your home, we can do the paperwork and I will hold it until you are ready to go on the market. This gives me the opportunity to prepare the ads, flyers, recordings, and home show.” (seller response) “Is there something specific holding you back? How can I assist you with your decision?”

They say: “I don’t want to sign a long contract.”
You say: “Ok. I will simply work with you as a temporary listing client rather than a full client. It will not impact the representation you receive or the marketing efforts. It only restricts us for the ads your home will be eligible for. It’s your decision. When are you available to meet?”

They say: “If I can not get $xxx,xxx, I cannot sell.”
You say: “Ok. I’m curious, if I brought you an offer that was 95% of that amount, how would you proceed?” (seller response) “If I could get you top dollar for your home in the next 30 days, would you list today?” (seller response) “Can you meet this evening to review our plan?”

The Key to Successful Responses

When responding to potential seller objections, it is not a matter of being through, accurate or adding value. Rather it is important to acknowledge the seller’s concern(s) AND close for the appointment. Only the best closers (successful realtors) completely understand that over 90% of the public does business with the first vendor of service they meet eye-to-eye. Once you have the appointment set, you will have the opportunity to clarify and reveal seller motivation. The bottom line result is more appointments equal more listings equal more satisfied clients.

The Next Step

Of course, if you set an appointment YOU must have a PLAN. If 90% of being successful is being there, then the remaining 10% is what you do once you are there. Think it through, do you homework, and make sure you are prepared. Nothing adds to a confident presentation than being prepared and rehearsed.

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Coach Cheri Alguire has coached over a thousand Realtors on scripts and other skills needed to take their business to a new level of success. For more information on her real estate coaching program, check out www.ProRealEstateCoach.com or www.RealEstateBusinessResources.com

Creating a Real Estate Team

noreply@blogger.com (Coach Cheri) — Mon, 27 Jul 2009 18:15:00 +0000

By Cheri Alguire

No doubt about it: when you set out to complete your goals, you will need a functional team to support you. Think back to your goals. Are you going to be able to handle that kind of volume and all the paperwork and follow up that goes with it? Probably not. Chances are, you will need a team of assistants and buyer agents to help support you as your business begins to grow. Team members may wear many hats, and you will need to structure your organization to facilitate your desired outcomes.

A visual representation is a great place to start. Physically draw out the team. Who is/are the lead agent(s)? Who leads the listing team? The buyer agents? Who is in charge of managing the office? Marketing? Technology? (If the answer to all of these is ME: rethink your business plan and reread THE E-MYTH REVISITED by Michael E. Gerber.) A key question when planning is: do I need to hire more people? In addition, seeing which person wears which hat, and who reports to whom, is extremely useful in tracking the success—or lack thereof--of the business.

One of the best books to use as a resource when you are planning your team is THE MILLIONAIRE REAL ESTATE AGENT, by Gary Keller. Although he has newer book SHIFT, most of my clients are seeing another shift in the market and are once again working on building and strengthen their teams.

Understanding the difference between a group and a team is critical. (And you may want to be mindful of how you name your business accordingly: “The Jones Group,” for example.) In brief, a team centers around a common goal to which all members commit. Job descriptions are unambiguous and stated in writing. There is buy-in to the success of the team, not just an individual. Team members are accountable to one another. A team celebrates successes and problem solves together. A group, on the other hand, is loosely (if at all) structured and adheres to no clearly defined goals. A group is about daily work and outcomes, (vs. vision and goals) and one person is usually “in charge” to reap the success or to feel responsible for failure. Whereas a group can serve a single purpose, a team creates a business dynamic that enables success and growth.

Teams require management. Be prepared to facilitate team needs. Be prepared to mentor and nurture as the team develops. Plan for meetings carefully. Build in accountability to goals and review them weekly. Be consistent in leadership. Your team members, and your sanity, will appreciate the effort.

Remember that teams grow and change. When writing a business plan and when hiring on team members, you need to keep in mind that the job description of today might be entirely different a year from now. (Sound familiar? How many of us were foreclosure experts until recently?) A team member who demonstrates the capacity and willingness to learn beyond the immediate landscape is a great asset to your business. Real Estate is dynamic. A good team not only plans for change, but embraces it.

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Coach Cheri Alguire has helped thousands of Real Estate Agents create successful teams. If you would like a complimentary call with Coach Cheri regarding how and when you should build your team, contact her at http://www.prorealestatecoach.com/pages/contact-us.htm

What is your Value Proposition as a Real Estate Agent?

noreply@blogger.com (Coach Cheri) — Mon, 20 Jul 2009 22:31:00 +0000

By Cheri Alguire

As a real estate agent, it is important to know your value. “Your value” is determined by what you have to offer the consumer. It is important to remember that consumer perception is consumer reality. Every agent on the path of success must be able to answer the following question from a consumer’s point of view. (We all need to answer a version of this very basic question and answer it very, very well.) The question is: Why should a consumer work with you instead of another agent? Or, why should a client work exclusively with you, instead of having several agents search and show them homes? Or, why should a buyer express complete loyalty to you, instead of calling every listing agent in town? Your answer should compel the consumer to select you, and keep the consumer from moving on to one of the next agents.

Your value proposition is your personal thirty second ‘elevator speech’ answering the WHY question: Why should a home buyer pick you? This thirty second answer will prove to be helpful at an open house, a social gathering, answering a floor call, responding to an email, responding to a sign-call, meeting a ‘come-show-me’ request at one of your listings or the first time you meet any none-contracted buyer. Like all thirty second answers, your answer needs to be well thought out and planned.

Your value proposition planning begins with listing all of the services you provide to buyers. Your list may include: MLS access, automatic notification of new properties, market knowledge, negotiation strategies, process knowledge, one-stop-shopping and the list goes on and on. All of the services agents provide can be viewed as the ‘features’ agents provide to buyers. However, simply giving a potential buyer a list of features is over-whelming and full of jargon. This list has meaning to real estate agents, not to ‘Joe Consumer’. For an example: If an agent boasts that they have auto-notification, MLS access and top service, what appeal does that have to a potential buyer? What if agents, instead, convert their list of features to a list of how the consumer will benefit by choosing them. The same example would sound like this: I offer access to all homes currently for sale; I give immediate notification of all new homes to the market, and I will show you properties at your convenience. The second example gives the potential buyer the benefits of working with an agent and is consumer focused. From your initial list of services or features you provide, comes your list of benefits or your value proposition. Your value proposition will compel a potential buyer to pick you.

Here is the step-by-step process to building your value proposition:
Step #1 List all the services that you provide for buyers.
Step #2 Determine which three services do you do best.
Step #3 State how you provide the three services.
Step #4 Clearly identify what benefit your client gets from each of the three services.
Step #5 Write down the three benefits and practice verbalizing them until you are comfortable saying them.

Now that you have a value proposition, you may want to evaluate it. Will your value proposition be compelling enough for buyers to want to work with you? Is your value proposition giving the message you intended? Evaluate all three parts of your proposition by selecting the correct quadrant on the Johari Window. First, is the statement ‘client directed’ or ‘agent directed’? Second, is the statement a ‘consumer benefit’ or an ‘agent service/feature’? It looks like this the attached table.

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Coach Cheri Alguire has helped thousands of Real Estate Agents develop their Unique Selling Proposition. Sign up for your FREE 20-minute Coaching Session today at www.ProRealEstateCoach.com In one session you will develop your Unique Selling Proposition. Find out firsthand the value of knowing your worth to consumers. http://www.RealEstateBusinessResources.com

Real Estate Scripts: Buyer Objections

noreply@blogger.com (Coach Cheri) — Mon, 13 Jul 2009 22:23:00 +0000

By Cheri Alguire

I am often asked, “What do you say when a buyer asks…?” I always have an answer for every objection, but only because I use a method for analyzing every objection. Here is a list of common buyer objections and a quick follow-up statement for the buyer agent.

They say: “I am too busy to make an offer or even look right now.”
You say: “I am just curious, is there a way you can schedule your week so you can home search for two hours? I don’t want to see you lose the opportunity of the $8,000 tax credit and low interest rates.”

They say: “This home faces the wrong direction. I want more southern exposure.”
You say: “If this house faced south, would it be your new home?” (buyer response) “Good!” “Tomorrow we will only view southern exposure homes. Does 6:00 work for you?”

They say: “I don’t think the market has hit bottom.”
You say: “How will you know when we are at the bottom?” (buyer response) “The supply and demand ratio indicates that there are only _____ homes per buyer. This is a clear indicator of turn in the market.”

They say: “My hours may be cut, or worse yet, I may loose my job.”
You say: “Help me understand. What is the difference between your monthly rent payment and your qualifying payment for your new home?” (buyer response) “If I may ask, where do you plan on living if you lose your job?”

They say: “I do not know if I can get a loan.”
You say: “The two big steps in getting you into a home are meeting with a realtor and meeting with a lender. Would you be able to meet with our lender tomorrow during the day or in the evening?”

They say: “Something better might come on the market.”
You say: “What would make another home better?” (buyer response) “Are you willing to risk losing this home, the neighborhood, and the great price for a hope of greener grass?”

They say: “My credit score is low.”
You say: “I would think twenty minutes with our loan officer will clarify your concerns. Is Tuesday or Wednesday better for you to meet with our loan officer?”

They say: “I have a lease on my apartment.”
You say: “Have you explored the options for an early vacancy?”

They say: “I want to sleep on it.”
You say: “That sounds good. I will call the listing agent first thing in the morning to see if the home is still available and then I’ll call you. Do you have any questions on the property I can get answered for you?” (buyer response) “Do you have any other purchasing concerns I can assist you with?”

They say: “I have a home to sell.”
You say: “Have you established the value of your home?” (buyer response) “Would Monday or Tuesday work best for me to preview your home?”

They say: “I want to be closer to my workplace.”
You say: “Are there other factors that impact your location choice?”

They say: “I am too busy with wedding plans.”
You say: “Are you familiar with the home search process?” (buyer response) “What is your target date for being in your new home?”

They say: “Interest rates may go down more.”
You say: “What rate are you hoping to capture?” (buyer response) “Let’s look at the current rate and your dream rate and calculate the monthly payment difference. Are you willing to lose this beautiful home, location, and great price for _____ per month?”

They say: “We want to think it over.”
You say: “You’re right. This is a huge decision. However, I have to give you fair warning with as little pressure as possible. If you are ready to write an offer on this home, other buyers may also be ready to write. Being first to write will make a difference in negotiating the best possible price for you.” (buyer response) “Is there something specific holding you back? How can I assist you with your decision?”

They say: “I don’t want to sign a buyer contract.”
You say: “Ok. I will simply work with you as a customer rather than a client. I will assist you with gathering information so you can make informed decisions. However, you need to understand that with any home listed by my brokerage, I will be working in the seller’s best interest, as they have signed a contract with our brokerage for full representation. If you sign a buyer’s representation agreement, you are legally represented as well.”

Cute, Quick or Quip

When responding to objections, it is not a matter of being cute, quick or quip. Rather it is important to discover the circumstances or reasoning that caused the objection. In doing so, you clarify and reveal buyer motivation. The bottom line result is better service and satisfied clients.

Clarifying Buyer Motivation

Use a two-step process for clarifying buyer motivation: The first step is to determine if the objection is house related or not house related. Step two is to determine if the objection is within the buyer’s control or not within the buyer’s control.

If an objection is house related and within a buyer’s control, this is person is buying. All you need to do is satisfy the objection and write the contract.

If an objection is neither house related nor within the buyer’s control, you have a long road of educating the buyer ahead of you. This buyer will need market facts, successful buyer stories and a lot of patience on your part.

The objection that is not house related but within the buyer’s control needs to be peeled back and indicates a buyer is ready to purchase. Peeling back the objection through concern and questions should reveal a missed step in the process or misunderstanding that the buyer has. For example, the buyer may not be sure about the purchasing range or how they proceed to buy the home.

On occasion an objection will surface that is house related but outside of the buyer’s control. This is also a buyer that is ready to purchase. To satisfy the objection you need to firm up the buyer’s criteria through questions that focus on price, condition, location and amenities.

The following Johari window will assist you in understanding the two step process I use for clarifying buyer motivation.

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Coach Cheri Alguire has partnered with thousands of Realtors® to help them take their business and their life to the next level of success. To submit an objection or for more information go to http://www.ProRealEstateCoach.com or http://www.CheriAlguire.com

More Expired Real Estate Scripts: Avoid the Traps

noreply@blogger.com (Coach Cheri) — Mon, 06 Jul 2009 14:48:00 +0000

By Cheri Alguire

I have had an enormous response from you all about the first set of Real Estate Scripts. I had a couple of you send in more examples of objections and some that felt like they were being trapped by the expired real estate leads they were talking to.

It is true; some consumers like to set traps for unsuspecting agents. Armed with an attitude of sincerity and motivated by the opportunity to secure a new listing, every agent needs to avoid the traps set by expired home owners.

They say: “If I can’t get $XXX,000 for my house, I can’t afford to sell.”

This statement sounds innocent, but sets a major condition for taking the listing. A pre-set price without clarification or reasons is a trap to avoid. I suggest you simply reply: “I am just curious, how did you determine that price?” The objective for your curiosity is to ‘peel-back-the-onion’ or to reveal the expired seller’s motivation for having a pre-set price, not to mention the expectations that may exist with that price. Because the property has expired from the market, the price was probably rejected by the market. (But always keep in mind the possibility of location and condition as reasons for a property expiring.) Peeling back the seller’s motivation is key in determining your next step. An expired seller’s motivation for pre-selecting a price can range from: simple greed to having a second mortgage to another agent priced the home to the seller looked on-line at Zillow to the price reflects current tax assessed value to the cost of their new home or future lifestyle costs. Once you determine the motivation or reason behind the price tag, you can select your next step in successfully listing or walking away from the seller. Without peeling-back-the-onion, you may foolishly spend your time and money AND emotional energy. Avoid the trap of motivational ignorance.

They say: “How come you did not sell it while it was on the market before?”

There is nothing innocent about this statement, and it likely makes every agent cringe. This is the ‘blame trap’ and caution needs to be exercised. There are two clear directions an agent can take to avoid the pitfalls of the blame trap: One is to address the emotional feelings of failure of the expired seller. I suggest using the ‘feel-felt-found’ strategy. “I understand how you feel. I have spoken with many other sellers who have felt the same way. What they found is once we go through the factors that impact a home successfully selling, they understand why all buyers and agents may not see or show every home on the market.” “Would you be able to meet this evening or tomorrow to discuss these factors?” The second strategy is to directly address the factors or reasons all agents and buyers do not see every home. I suggest an introduction like…”There are several reasons that every buyer or agent may not see or show a home for sale. All of the reasons are related to five factors: Price, Location, Condition, Amenities, and the Exposure your home was receiving while it was on the market.” I like to follow-up this statement with a series of questions related to the results of the previous agent’s marketing. “How many showings did you have?” “How many open houses did you have?” “And, how many lookers were at the open houses?” “Did you have any second showings?” “Did you have any offers?” My intent should be clear. I am taking control of the conversation and collecting valuable information as I show real interest in the expired seller’s home. Avoid the blame trap.

They say: “Can you send me some information on your experience first?”

This request comes in many forms and I call it the ‘pre-condition trap’. It may be worded as: “Can you send me the price you think you can sell my house for before we meet?” Another way the ‘pre-condition trap’ is used is when a consumer suggests you drop off your market ahead of time. And the most common ‘pre-condition trap’ is, “how much do you charge?” In an attempt to be respectful of the seller’s wish, I immediately close for a time when they will be home, giving me the opportunity to meet them and quickly review the information they have requested. It sounds like this: “I have a brief resume of discussion points on my brokerage and my personal experience. When would you be available for twenty minutes?” Avoid the pre-condition trap.

They say: “Have you ever sold a house in my neighborhood?”

This is a challenge for the majority of agents. After all, we can only have a definitive number of sales in a year’s time. More important than the direct question is the motivation behind the question. The seller’s motivation for asking will determine your response and course of action. You may want to ask: “I am just curious, did your last agent have a lack of knowledge about your neighborhood?” Or, “Are there some benefits of living in your neighborhood we can use to market your home?” Or, “Are you asking if I can service a listing in this location?” Do not dodge the question, but do ask for clarification. Usually, only one agent will dominate a neighborhood and it is probably the expired agent. I call this the ‘statistically improbable trap’ and it can be tricky if you are not prepared. Avoid the statistically improbable trap.

They say: “How about if we just list it with you for a month and try it out?”

The ‘test-drive trap’ is very common among expired sellers and we cannot blame them for being a little cautious. After all, they may have endured a six month contract with zero showings and very little contact with their previous agent. Embrace the ‘test-drive’ with empathy and a guarantee. Here is a possible response: “I understand that you want to be cautious about entering another long contract. How would you feel about a ‘seller service guarantee’? If we do not provide the service you are expecting, we will cancel the contract --- no fees?” This response is not for every agent. If you do not intend on servicing the listing and providing a list of service points with a guarantee, then you will need to respond differently. Avoid the test-drive trap.

They say: “I am frustrated that our house has not sold yet.”

This is not an objection. This is a statement of feeling. Use empathy and paraphrase their feeling. But, do avoid the possible trap of becoming their counselor. Remember, you run a real estate business not a counseling center. You want to establish yourself as their real estate market expert, not the human emotions expert. Try this: “I understand how you feel. I have spoken with several other people that have felt the same way. They have found some comfort in understanding the current market conditions. When would you have twenty minutes for me?” This should sound familiar; it is the ‘feel-felt-found’ strategy. Avoid the counselor trap.

They say: “I don’t think our agent did their job.”

Remember OUR Code of Ethics and stay true to its spirit and avoid the ‘mud-slinging trap’ at all costs. Try a response like this: “What did your last agent do that you liked?” And follow with, “How could have the last agent improved their performance?” This is a great opportunity for you to hand-craft a marketing program for your new listing. The expired seller is giving you their personal list of dos and don’ts. What could be more valuable when listing a home? Take advantage of this opportunity. Avoid the mud-slinging trap.

They say: “My last agent was not able to sell our house in six months, what makes you think you can?”

Repeat after me: “We are not interchangeable parts!” And believe it! As many different and unique brokerages as there are, there are equally as many levels of training and agent proficiency. I like to answer this question with a simple statement: “When can we sit down and compare what you experienced over the last six months with what I am offering?” Or, “There are three basic reasons I think I can secure a buyer for your home. When can we sit down and discuss them?” Remember: Not all agents are created equal, and we all need to develop our personal Value Proposition. Avoid the interchangeable-parts trap.

They say: “My last agent did not do much to sell my house. I think I am going to try it myself.”

The ‘give-up’ trap is a signal of readiness for a hungry agent who wants to work side-by-side with a motivated seller. And treat this opportunity just that way: “It sounds like you are motivated to sell your home and have some ideas on how to get the job done. Am I right?” “Would it be all right if I stop over tonight to discuss your ideas and possibly make a plan for your home?” The key is to dignify the seller’s ideas and see if they fit your marketing plan. It may be as simple as having the seller preview the flyers, MLS input, photos and 800 recording prior to the list start date. Some sellers just want to be empowered. Do it! Avoid the give-up trap.

Tip from the Coach: When a consumer offers an objection in the form of a statement or question, the consumer has an underlying motivation, reason or concern. The key to successfully handling all objections is to reveal that consumer’s motivation.

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Coach Cheri Alguire has helped hundreds of Real Estate Professionals take their business to the next level of success. If you would like to submit some objections for an upcoming article, or would like to know more about Coach Cheri’s coaching programs, go to http://CoachCheri.com

Lead Generation and Marketing Plans for Real Estate Professionals

noreply@blogger.com (Coach Cheri) — Tue, 30 Jun 2009 17:12:00 +0000

By Cheri Alguire

In pervious articles, we focused on targeting a niche, the WHO that benefit most from your services. Now we turn our attention to generating leads from that given niche and creating a marketing plan for success (the HOW.)

Once you have identified the WHO, you must set about a plan to communicate with them in order to capture that business. Don’t neglect a single person within the target. If you have singled out a particular neighborhood, for example, every waiter from every restaurant and every manager/owner of every business in that area should know your name and game. A branded, consistent image is essential, and you should carry—and leave it—wherever you go. The persona you present should be just as consistent: friendly, competent, and willing to help.

Master marketing blogger and author Seth Godin reminds us that marketing is simply a matter of spreading ideas—but that the very action of dispersing those ideas is a powerful force. He suggests that your marketing be a form of storytelling: let the consumer know you and your business through a memorable narrative. The story can be told in print, such as a glossy brochure or easily remembered business motto or slogan, but it also should be told through every visual image you present to the public as well: your website banners, stationery, postcards, etc.

Let’s use for example your target neighborhood again. You have identified the WHO in the niche and now want to reach them. They are a mix of upper-middle class singles and families, mostly professional, who support their neighborhood through school and community events. The neighborhood houses a city park, a few small, locally owned restaurants, and a scattering of businesses. What is your marketing plan to attract them? What story will you tell?

First, be visible. Be present in the neighborhood, supporting it. Live in it! If you are handing out flyers (or sponsoring?) the local half-marathon, everything that represents you and your business should be immediately recognizable: your logo, your colors, every image that tells your story. If you want to connect in this neighborhood, shouldn’t your photo on your website and promotional materials include an image of that park? If you are a runner, the consumer should see you in those shorts. A volunteer? Publish the image of your cause with you in it. To paraphrase the humorist, Nora Ephron, “everything is copy,” so get out there and get your story told with the real—and relevant--details of your life.

Second, be different. Seth Godin also warns us that “people only notice the new.” (ALL MARKETERS ARE LIARS, 2005.) The truth is, there are an awful lot of people who do what you do. So what do you do that is so different? Or how can you change what you do to be different? “Hot pizza, 30 minutes or less” is a differentiating distinction in a business of countless competition. You can’t “provide the best service” and be considered different from all the rest. But define the best service, and perform it, and you will succeed. We know of one real estate team that grew to become the top producers in their market by answering phone calls in five minutes or less, emails and text messages within ten minutes. They advertised this difference and delivered on it, convincing the public that they were interested in providing them immediate attention and service. Listing appointments included “the test:” potential sellers calling anonymously from a coded listing, only to have an agent return the call within five minutes and ask if they needed assistance on a particular home. Slam dunk.

Third, be active. Do not confuse having a “marketing strategy” with having an “action plan.” You must invest your time, effort, and dollars in securing the specific marketing resources which target your clientele and give you the best return on your investment. Big doesn’t always mean better, but then again, sometimes it does. Do your homework. Select media which fit both your budget and your goals. Then put your plan into effect.

Finally, analyze results. Track every lead to its source of origination. In that way, you can determine which marketing resources are working best, and which are most cost effective. You will know when and how (much) to change only if you track and account for your leads.

In the end, it is pretty simple: Tell your story well to as many people as possible.

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Coach Cheri Alguire has helped hundreds of Real Estate Professionals and Super Small Business Owners create a Lead Generation and Marketing Plan to really take their business to the next level of success. Find out more at http://www.CheriAlguire.com

Expired Real Estate Leads Scripts

noreply@blogger.com (Coach Cheri) — Mon, 15 Jun 2009 20:55:00 +0000

By Cheri Alguire

With so many agents working on getting expired listings, my clients have been asking me to help them work on scripts during our coaching sessions for advice on how to deal with objections from expired real estate leads.

Remember, the expired listing is going to be bombarded with calls from other agents who are also trying to get the listing. It is very important to build rapport with the seller and to set an appointment. Once you are sitting with them, you will be better able to explain how you can help them get their home sold.

If you are using these scripts on the phone or even at their front door, always try to set an appointment to present your listing presentation when all decision makers can be present for as soon as possible. That same day would be great.

These are only some of the objections my coaching clients have received in the past few weeks. These are the responses we came up with to learn and use to handle those objections and questions. What kinds of objections and questions are you getting? Submit your question here http://www.prorealestatecoach.com/pages/contact-us.htm and we will get back to you on a specific response as well as include the best questions on a future Scripts posting.

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They say: “If I can’t get $xxx,000 for my house, I can’t afford to sell.”

You say: “I understand your concerns. Have you looked at what you will net if you get that amount? Let’s take a closer look at the numbers including what it is costing you each month that you don’t sell and have to pay for expenses with the property. Could I stop by and explain those numbers to you later today?”

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They say: “How come you did not sell it while it was on the market before?”

You say: “With the current market we are in, there are so many houses that are similar on the market. In order to get your house to stand out on the Multiple Listing System that agents use to search for available houses for their buyers, it is important to market it so that it stands out among the rest. Can I share with you how I market homes differently on the MLS than I do for potential buyers in, say, the newspaper? Can we meet later today?”

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They say: “Can you send me some information on your experience first.”

You say: “I would be happy to get you a brochure and some information on how I can help you get your home sold. I would hate for you to miss any time on the market, however. Can I drop it off with you this evening? That way you can get your home listed again as soon as possible. What time is best for you?”

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They say: “Have you ever sold a house in my neighborhood?”

You say: “Even though I have not sold a home in your specific neighborhood, my marketing philosophy is to really market the home’s strengths. I believe one of your homes strengths is being in the (insert neighborhood name) and it’s proximity to the elementary school. What do you think are your home and neighborhood’s best features? I would love to show you how I’ll fit those strengths into my marketing materials. Can we set up a time for me to come over and explain my marketing plan later this evening?”

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They say: “How about if we just list it with you for a month and try it out?”

You say: “With today’s current marketing conditions, it is taking longer for some properties to sell with the competition on the market. Let me explain the marketing plan I would use on your property and explain what I would be doing in the first month as well as the next months after that. I am sure you will be impressed. “

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They say: “I am frustrated that our house has not sold yet.”

You say: “I understand your frustration. With the changes we have seen in the real estate market over the past year, the average days a home is listed on the market has increased. One thing that I offer is an updated market analysis on a regular basis to make sure we have your home listed at the right price even with new homes selling and new properties being listed in competition with you. To help ease your frustrations, how often would you like to receive this information while your house is listed?”

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They say: “I don’t think our agent did their job.”

You say: “I am sorry you feel that way. I know your past agent and he is a good agent. However, what would you want from your next agent that would make it a better experience?”

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They say: “My last agent was not able to sell our house in 6 months, what makes you think that you can?”

You say: “I know it is frustrating that it is taking longer to sell your home than you anticipated. I have a marketing plan that has helped me sell (insert your numbers) % of my listings and my average days on market is (insert your numbers.) What do you think would help your home sell more quickly?”

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They say: “My last agent did not do much to sell my house. I think I am going to try it myself.”

You say: “I can understand your frustrations. Sometimes it seems like it would be easier to sell it yourself because you don’t see what your agent is dong to promote your house to the other agents in your area. Can I explain what I do to promote your house in the MLS and to other agents?”

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Real Estate Coach Cheri Alguire has helped thousands of Real Estate Professionals answer tough questions from Expired Real Estate Leads like these. If you have a tough question that you have trouble answering, submit it here: http://www.prorealestatecoach.com/pages/contact-us.htm and she will email you a possible script and post the most best questions in a future Scripts posting.

What is your Value Proposition and why do you need one?

noreply@blogger.com (Coach Cheri) — Tue, 02 Jun 2009 05:16:00 +0000

By Cheri Alguire

YOU know how special you are. YOU know that you outshine the competition. The question is: does your potential client?

Helping clients understand the value you provide to them is essential in prospecting and keeping business. Let’s face it: consumers have plenty of YOU to choose from, and national research shows that they see very little difference among you. It is therefore up to you to be able to articulate and to demonstrate what it is that makes you their best choice; what it is that makes you unique and valuable.

First, know what clients want and know that those wants may change. You must identify what consumers expect and need.
NAR data from 2008 states that today’s buyers and sellers are selecting agents for a number of select reasons:

• They want a quick response.
• They want expert advice and guidance.
• They want a skilled negotiator.
• They want accurate market knowledge.
• They want a “track record.” (Reputation matters.)
• They want someone they can trust.

If you are able to show clients that you have expertise and skill in all of these areas, you have begun to prove your value.

In addition, a good buyer’s interview will help you determine your clients’ individual wants and needs. Listening is a key component in this step. If you can then paraphrase back to the clients what they have described, they become convinced that you know and understand them, and what’s more: that you are willing to accept their “requirements” and work accordingly on their behalf. (Also, be prepared to be flexible because those “must haves” might suddenly shift to “would be nice to haves,” while entirely new criteria surface as primary.)

Second, remember: it’s not about you. It’s about them.

A useful motto here for the real estate professional is: “check your values at the door.” You may take their criteria and show the clients the best of the best in that price range, only to find out that they are solely comfortable with homes more modest or unassuming. You may be appalled to discover that their top choice is across from an apartment complex or major highway, but if you remain non-judgmental and validate their reasons, you have proven your value as a listener to their needs. On the other hand, if you try to argue them out of their first choice or convince them they are wrong, (because obviously you are the expert!) then you risk alienating the clients you are supposed to serve, if not lose them all together.

Finally, know and verbalize exactly why clients should work with you.
And P.S. the answer isn’t “because I give good service.” You’d better give good service: that’s a bottom-line expectation of all consumers! What do you do above-and-beyond service?

Jeffrey J. Fox, in HOW TO BECOME A RAINMAKER, reminds us that we should always be able to answer the question, “Why should this customer do business with us?” Make it your mission to be able to answer that question for your business--the same way every time. And make the answer true.

That is a value proposition that sells.

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Coach Cheri Alguire has helped hundreds of Super Small Business Owners, Realtors, Coaches, and moms figure out their Value Proposition. If you would like help with your Value Proposition check out part 10 of the 17-Part eCourse at http://RealEstateBusinessPlanningGuide.com or contact us today at http://www.CheriAlguire.com

Niche Marketing Lesson for Your Business from a Burger Restaurant

noreply@blogger.com (Coach Cheri) — Mon, 18 May 2009 17:46:00 +0000

By Cheri Alguire

Now in the current market and more than ever, you may be tempted to define your clients as any and every one who walks past you down the street. Everyone needs a place to live, right? Concerns over the economy and a desperate need for lead generation may persuade you to apply the salt-shaker method of marketing: sprinkle it all over and hope that something sticks! But this panic-mode thinking could be the biggest mistake you make all year, resulting in wasted time, money and resources.

In order to get the most of your marketing efforts, in this economy especially, you need to follow the rules of niche marketing. In-N-Out Burger fast food restaurants are a perfect example of niche marketing. Never meant to appeal to everyone, never meant to take over McDonalds’ or Burger King’s market share, this successful hamburger joint has a limited menu consisting of only three different sandwiches: the hamburger, cheeseburger, and the "Double-Double" (double meat/double cheese.)

Though times have changed since the chain opened its first restaurant in 1948 in Baldwin Park, California, little has changed at In-N-Out. The menu - burgers, fries and drinks - is still the same basic menu customers have always enjoyed. Have they expanded their menu to have other kinds of sandwiches and entrees? No. Loyal burger eaters know that when they want a good quality burger, IN-N-OUT is the place to go. They do not spend marketing money advertising the latest Chicken Sandwich Spectacular because they don’t have one. They focus on what they do best.
As a small business owner, what lessons can you learn from IN-N-OUT?

Now is exactly the time to refocus your time, money, and resources in a similar manner. When all three may be in short supply, it only makes sense to concentrate on your niche, the group of people most assured to bring you certain returns, the group of people you want to work with and concentrate on.

If you don’t know them already, choose who those people are.

Who best benefits from the specific services you offer—and deliver--better than anyone else?
Who already has benefited from your services and is now a “Raving Fan?”
Who do you know who “talks up” your services and serves as your Goodwill Ambassador?

After you have determined the WHO, analyze the WHERE.

What do these groups you have identified have in common and where do they come from?
Are those who benefit most from your services within a certain age group? Geographic location? Job or organization?
Those who are your Raving Fans are clearly past clients and referrals, but where do you find them now?
The Goodwill Ambassadors are clearly your sphere, but where do you find them? The family tree? The immediate neighborhood? Church? Clubs?

Then of course, you must apply the HOW. How will you reach that target once you have identified it? If seniors are the most likely to respond to your services and inventory, you will probably not concentrate solely on internet strategies But similarly, if you have a Gen-X or Y population clamoring for your services, you need to be well established with the latest technologies, communication platforms including social media networking sites, and expertise. Know how to reach your clients and where to spend your time and money.

And remember your goals. If you are planning to double your business within the next five years, then the HOW must include the resources you will need to market to and service your niche.

Don’t succumb to the fear that if you don’t court every potential client, you won’t have any clients at all. Make your niche as carefully designed a part of your business plan as your budget. If you focus your time and resources and serving the burger-loving clients the best way you possibly can, you will attract more of the same. Leave the chicken-lovers to someone else.

This is the true key to Niche Marketing!

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Coach Cheri Alguire has helped thousands of super small business owners and real estate professionals find their niche. Find about her book Branding & Marketing Mastery or her business planning guides at http://www.CheriAlguire.com

Mother of the Year Video

noreply@blogger.com (Coach Cheri) — Mon, 11 May 2009 14:14:00 +0000

I hope all you Real Estate Moms enjoyed Mother's Day. I enjoyed "Mother's Day Weekend!" (Why have a day when you can stretch it to three!)

I received this video in an email from a friend on Mother's Day. Watch it to the end and it will bring up an area where you can customize it.

CNNBC Mother of the Year Video

Make it a GREAT Year!!!

Moms on Facebook

noreply@blogger.com (Coach Cheri) — Mon, 04 May 2009 18:14:00 +0000

By Cheri Alguire

“Why isn’t there a ‘Kids’ Day?” is the question I heard from my fifteen-year-old daughter this week. Doesn’t she know that her older brothers and all kids in the entire world that have ever asked this question before always get the same answer…”Every day is ‘Kids Day’!”

Happy Mother’s Day, Real Estate Moms! I hope you all have plans to enjoy your day!

The other day, my daughter walked into my office and exclaimed with surprise, “Mom! You’re on Facebook!” She thought Facebook was only for kids. Not anymore. The fastest growing demographic on Facebook is those 35 years old and older. Facebook, is no long, just for kids.

How about you? Which Social Media sites are you on? Facebook? MySpace? Active Rain? Linked In? Others?

I first joined Facebook when my son’s girlfriend invited me to join. I didn’t do anything with it for years. Then, about six months ago my brother found me on it and asked me to be his friend. He did tell me that he thought it was pretty disgraceful that he made up 50 percent of my “friends” and that he was my brother so he didn’t even really count! I decided it was time that I checked out this Social Media craze starting with Facebook.

According to Wikipedia, “Mark Zuckerberg founded Facebook with fellow computer science major students and his roommates Dustin Moskovitz and Chris Hughes while he was a student at Harvard University. Website membership was initially limited to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and Stanford University. It later expanded further to include any university student, then high school students, and, finally, to anyone aged 13 and over. The website currently has more than 200 million active users worldwide.”

Even Oprah is now on Facebook!

Founded in February 2004, Facebook is a social utility that helps people communicate more efficiently with their friends, family and coworkers. The company develops technologies that facilitate the sharing of information through the social graph, the digital mapping of people's real-world social connections. Anyone can sign up for Facebook and interact with the people they know in a trusted environment.

As of May 2009 there are:

More than 200 million active users
More than 100 million users log on to Facebook at least once each day
More than two-thirds of Facebook users are outside of college
Average user has 120 friends on the site
More than 3.5 billion minutes are spent on Facebook each day (worldwide)
More than 20 million users update their statuses at least once each day
More than 4 million users become fans of Pages each day

But, how about you? How do you use Facebook and why? Do you use it to keep connected with family, friends and clients? To locate old classmates? To network? What? Please comment and let me know how you are using Facebook or other Social Media. Or click on my Social Media Links on my website http://www.CheriAlguire.com and message me that way.

I look forward to connecting with you on Social Media and sharing more about how real people use it in their business and in their life.

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Coach Cheri Alguire is a coach, speaker and trainer who has helped thousands of Real Estate Professionals and Super Small Business Owners keep up on the latest business trends and take their business to the next level of success. Find out more at www.CheriAlguire.com

How is your “Busyness” Doing?

noreply@blogger.com (Coach Cheri) — Mon, 27 Apr 2009 15:56:00 +0000

By Cheri Alguire

How is your Busyness Doing?

No, I did not mean “Business” but if you tell me how your “Busyness” is, I bet I can tell how your Business is doing. We too often spend far too many hours attending the busy-work of the business, which leaves us a day late and a dollar short of our goals.

What is on your to-do list for today? Are these items that will get you closer to your goals, or are they just things that you HAVE to do. I can almost bet that if you are getting up every day and just plowing through a seemingly endless to-do list, that your Business may be “surviving,” but you are not “thriving.”

An important way to tell if you are doing busy work or not, are ask yourself the following questions:

1. Which goal will doing this activity get me one step closer to?
2. Can someone else do this for me?

Sometime things don’t really need to be done at all. And sometimes, things need to be done, but just not by you.

You will need to prioritize those items that have to get done by you. If the majority of your business over the next five years will come from leads generated from referrals and sphere, then the “have-tos” are clear: contact and service well that group of people. Invest your time and money in that quadrant of contacts. Stay away from the nagging “to-do” list that says you need to update the expired system that you drafted two years ago and have failed to implement yet.

Next, ask some hard, frank questions of yourself and your business.

• First, can you reach your goals alone? In order to achieve the numbers you’ve put forward, do you need to expand your human resources?

• Second, do you need a different business model than the one you are currently using? (Told you they were hard questions!)

If you are looking to increase your production by half-again as much in the next five years, perhaps you can obtain your goal within the status quo. But what if you are looking to double your business in five years? Or quadruple it? Is it reasonable to think that you can succeed under the same manner and with the same number of people that you have been previously?

You know the answer: undoubtedly not. As a matter of fact, this can often be the tipping point of decline and/or failure in a business, when you fail to realize that you, alone, cannot be chief cook and bottle washer and grow your business. A team or staff to support you may become essential when planning for your future goals The E-Myth Revisited: Why Most Small Business Don’t Work and What To Do About It, by Michael Gerbe r, talks about this at length in his book.

It’s all about the numbers today in terms of goals and in terms of human resources. Plan accordingly.

That is why Part 9 of my 17 –Part Business Planning Workbook is on the numbers. You need to figure out what kind of Production you will need over the next 1-5 years in order to hit your personal goals. Your business is about supporting your life; it should not be your life.

If you are caught up in Busyness, your business has become you life, and is no longer just supporting it.

One question I get a lot doing my coaching and speaking is “How do you come up with the “numbers?” Maybe this will help:

WRITE THEM DOWN.

Next year’s goal: what is the magic number for closed production (in millions?) For your 2-year goal? For 3, and 4, and 5 years? What about gross and net closed commissions? Average Sales Price? Number of Transactions? Number of Listings? You must chart each out and write down the number.

For next year and the four to follow, what is the magic number for new listings, for example? Where will the business come from? What is the lead source? Referral. Sphere. Website. Farm. Expireds. What about buyer-generated sales? Where will that business come from? What are the lead sources? As you define these categories, you begin to identify your target market and where to spend your marketing dollars (and your time!)

Numbers tell you so much about your business. By focusing on your numbers and reaching your goals, you are able to plan your priorities, staff your Business accordingly and keep out of Busyness!

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Coach Cheri Alguire has helped hundreds of real estate professionals, super small business owners and Moms, keep out of Busyness and in a Business that is thriving. To find out more about Cheri Alguire’s Business Planning Guide visit http://www.realestatebusinessplanningguide.com/ or http://www.cherialguire.com/

Why did the Dog Cross the Road?

noreply@blogger.com (Coach Cheri) — Mon, 20 Apr 2009 13:48:00 +0000

by Cheri Alguire

In ancient times, lessons were taught via stories told around the campfires at the end of the day. The wise elders would tell and retell fables that turned into modern stories such as “the Hare and the Tortoise” where the moral of “slow and steady wins the race” is taught to children (an adults) through animal characters.

When my kids were little, these kinds of stories were in books. Today, I hear of parents who use iPods with stories on them to “read” to their kids. (And I thought the audio cassette with Chicken Little was cool1?!)

Is it fair to say that the stories of future will be passed on through the internet through things like YouTube? I saw this video this week and it made me ponder, Why Did the Dog Cross the Road?

http://www.growtogreatness.com/posting/why-did-the-dog-cross-the-road.htm

When you watch this video, you see a dog; I will call him Barley, stepping out into a busy multilane freeway in Chile. Why did the dog cross the road? It was rush hour and cars and trucks were zooming by at high speeds. Why in the world would this dog attempt to cross the road?

If you were able to see the video, you know that Barley is hit by a car. His still body lies lifeless on the dotted line separating two of the lanes as cars and trucks race by avoiding hitting him again. Why?

Why did Barley cross the road that day? Was he just being stupid? Did his mommy dog not teach him about the dangers of this world? Did he see too many movies of dangerous stunts and was Barley just trying to defy the odds and gain a moment of fame in the process?

Or, was Barley trying to get to his kids and was not going to let anything stop him, no matter the danger involved? We all know that as parents, we would do ANYTHING for our kids, especially if they were in some kind of trouble.

Or, was Barley giving up that day. Did the economic times leave Barley feeling like there was not hope, that life was just too hard and the world would be better off without him? Was he cold and tired and just giving up as he stepped onto that crowded busy freeway?

But wait; out of the corner of the screen, you see something moving. Out of nowhere you see another dog, who I will call Chip, running into the road as well. He is dogging cars, but he is moving with sheer determination to the spot where Barley is laying lifeless.

Chip wraps his paws around Barley. Do these dogs know each other? Why would Chip put his life in danger like this?

Chip then begins to drag the injured Barley slowly, inch by inch to the center island area of the road. It seems the traffic in that lane is surprisingly sparse for just a minute as Chips drags Barley, slowly across the pavement which could, at any moment, be filled with a speeding Semi truck. Any cars that do approach them, however, see something and although they are not sure what they are witnessing exactly, they notice them and steer around them.

Just as Chip has Barley to the concrete barrier in the center of this freeway, two construction workers see the dogs and come running to their aid, diverting traffic out of the far lane.

Barley lives. He gets the medical attention he needs and although still recovering and is not conscious yet, he will survive. But where is Chip? We don’t know. Chip took off after seeing Barley to safety.

Why did Chip cross the road? Did he know Barley? Was he trying to save his friend? If that is the case, why didn’t he stick around? If he did not know Barley, why would he put himself in danger? Why did the dog cross the road?

Like Chip, we see others who have gotten themselves into a tough situation. Maybe they were being stupid, yes. Maybe they did not heed warnings and found themselves in a rough patch, maybe even a life threatening situation. Sometimes it can be dangerous to help others. But sometimes, like Chip, we just see someone in trouble and know we need to do the right thing.

Now, I am not telling you to go out and get yourself killed. If we are not somewhat careful, we will never be any help to anyone. But are you willing to step out and help someone who really needs it, even if it is dangerous? How many times do we not help others because just because we are afraid it will make us look stupid? Do you think Chip was thinking about how stupid he looked?

Do you think Chip cared about how “busy” he was at the time? Do you think he even wondered if he really had the time to help this other dog? Probably not.

Sometimes we don’t help others because we think there are others who are more qualified to help. What if Chip left Barley to others who were more qualified to move him out of the busy freeway? Do you think he would have made it that long?

The moral of this story: Sometimes, no matter how busy we think we are or how unqualified we think we are or how dangerous we think something might be, sometimes, we just need to do the right thing.

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Cheri Alguire is an author, speaker and coach. Find out more about her at http://www.CheriAlguire.com

GOAL SETTING IN A DOWN ECONOMY

noreply@blogger.com (Coach Cheri) — Mon, 13 Apr 2009 17:11:00 +0000

by Cheri Alguire

There is no shortage on advice on Goal Setting, and it’s one of the “basics” of business planning. But how do you set goals when sales are down and all you hear on the news is bad news. What is the alternative? Participate in the recession? Just sit back and let things happen to you? Good economy or bad, goal setting is pivotal. From professional athletes to motivational speakers to CEOs to Real Estate Agents to Super Small Business Owners to Stay-at-Home-Moms, Goal Setting is undeniably the key to success.

If you don’t know where you want to go, how can you create a plan? It is like jumping in the car with your family in it ready to go on vacation and you have no idea where the family is going. You don’t know if you are going across the county, across the state, or across the country. You can’t plan how long it is going to take, or the best way to get there, because you are not sure where you are going. You just get in the car and drive, hoping that something will come up that will give you direction, will give you hope. If your days seem like you are just hoping in the car and driving around without a plan, maybe it is time to do some goal setting.

• First, THINK LARGE. Don’t start with tomorrow, or even next year. WHERE DO YOU WANT TO BE IN FIVE YEARS? TEN YEARS? If you concentrate on how BAD things are, you will not be able to think big. Consider personal, financial, and business goals all on this wide open canvas of possibility. Don’t think in terms of How Will I? Think in terms of I WILL.

• Second, VERBALIZE your goals. WRITE them down in specific detail. POST them on your wall for a daily morning review.

• Next, VISUALIZE them. Create the picture of that success, or that vacation, or that volunteer activity. POST it.

• As a final step, ANALYZE your goals. Are they SMART? (Specific and Measurable?) Are they PURE? (Positive and Relevant?) Are they CLEAR? (Challenging and Appropriate.)

• And as a postscript, LEGITIMIZE them. REVISE and REWRITE them so that they fit both your dream and the “test” above. Confirm them with yourself and put them into action.

Remember that when Goal Setting, where you have been isn’t necessarily relevant. Now the course to set is where you want to be. It may be helpful to think of goals in terms of PERFORMANCE as much as in imagery. So when thinking of your goals, for example: an increase in the number of referrals you receive over the next five years, think not only of the physical number: say, 30%, but of the performance or action which needs to accompany that goal. Let’s take this example through the steps:

• I will increase our referral business by 30% in the next five years.

• I see a client appreciation picnic of 500 people catered by my favorite deli.

• Smart= I will measure the increase in the number of referrals year by year.

Pure=I will reward clients and my team members with a company picnic to show our appreciation.

Clear=I will rise to the challenge by increasing referrals incrementally each year from our current 20%.

• In terms of Performance/Action: I will hand write a thank you after each business transaction. I will observe birthdays and anniversaries through my email databank. I will strive for a 5 on every evaluation that is returned to me through my attention to detail and positive service plan.

• Make the goals FUN and MOTIVATING. If a new car or piece of jewelry or house motivates you, put that in your goal. Put little goals in along the way as well. Buy yourself that new designer purse when you hit a certain number of sales. Reward yourself along the way to hitting your BIG Goals.

Suddenly the goal is not just a dream, but a in specific direction toward your definition of success. Goal Setting should put a smile on your face! It’s the future you see in your dreams—achieved through your efforts and passion.

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Coach Cheri Alguire has helped thousands of people set and achieve goals far above anything they ever dreamed possible. If you want more information on the Business Planning Guide or her Goal Setting Coaching please visit http:// www.CheriAlguire.com

How NOT to Deal with Problem Areas in Your Business and Your Life

noreply@blogger.com (Coach Cheri) — Tue, 07 Apr 2009 05:26:00 +0000

By Cheri Alguire

Many people attack the problem areas in their business with the mantra, “When things get tough, I just work harder.”

This is a philosophy that looks admirable on the surface, but actually can adversely affect our goals. Surprisingly, the answer isn’t necessarily work “smarter,” either. The true answer to problem areas in business might be at the very core of our selves and our lifestyles.

When business planning, we strive to define goals, to establish and maintain the systems that support those goals, and to manage our time and resources accordingly. What we often do not do, that can result in serious problems, if not outright disaster, is plan for our selves. And we’re not just talking about the last time you had a vacation (without the cell phone.) We are focusing here on all the aspects of your life that allows you to recharge your body and mind in order to sustain your personal and business success.

Imagine a balance wheel that is drawn around your being. It would include health: diet, sleep, exercise, and relaxation (a.k.a. stress management.) Like any visual of this nature, if your self-assessment of these elements is lop-sided, you have identified the problem area(s) that limit your success.

Dr. Paul Pearsall, in his book TOXIC SUCCESS: HOW TO STOP STRIVING AND START LIVING, has labeled this tendency toward constant motion/drive in work while ignoring the self as “toxic success,” and reminds us of the 19th century folk hero, John Henry, who infamously tried to manually out-produce a steam-powered drill with a hammer and pick, but died after “winning” the race. He warns us that a single-minded focus can delude us into thinking we can control any and everything while we ignore our internal energy fuel gauge.

Focusing singularly on the business while wolfing down fast food—or not eating at all—obsessing on the market while losing sleep . . . our habits become self-defeating. This critical area is also what Stephen Covey refers to as “sharpening the saw,” in his book THE SEVEN HABITS OF HIGHLY EFFECTIVE PEOPLE, and he urges us to pay attention to it in our every day lives.
Remember, too, that personal attitudes have a huge influence on how we approach our problems. Believing that problems are permanent and insurmountable pretty well predicts that very outcome. However, by focusing on the health of our being, we can also take control of those attitudes that eat away at our ability to problem-solve.

You probably already know the drill: time manage for your self the way your time manage for your daily appointments and office duties. Exercise and sleep should be blocked off on your calendar. Relaxation breaks should be allotted for in definite terms, be it yoga, vacation, reading time, or the social hour. Remember that your business can’t run without you, so taking care of you should be a primary focus in every day planning and in long-term vision. You need to do it!

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Coach Cheri Alguire has helped hundreds of Entrepreneurs and Real Estate Professionals create a Business and Life Plan that really works for all areas of your life. To find out more about her Business Planning guides for Small Business Owners and Real Estate Agents at http://CheriAlguire.com

Time to Review Your Goals and Business Plan

noreply@blogger.com (Coach Cheri) — Tue, 31 Mar 2009 00:08:00 +0000

By Cheri Alguire

It is the end of the first quarter and time to check the score.

Just as planning your goals for the coming year should always begin with a look back at the year in review, so planning your business for the rest of this year should take a look back at the first quarter. Business planning isn’t just a numbers game, but also an accounting and analysis of the year’s overall progress.

Begin by asking the hard questions:
• What happened in your business this past year? Past quarter?
• Did you meet your goals? If not, why not?
• How did you accomplish your successful goals?
• Where did your business come from?

From there, analyze the specific sources of success or failure.
• Were your lead systems facilitating your goals?
• Did the number of listings support the number of closed transactions?

And yes, now analyze the numbers: closed sales, closed commissions, expenses, how many listings taken, how many listings sold, how many active? Quantify where the business came from in comparison to your goals: how many sales from sphere? Referrals? Websites? Print media? Signs? Other lead-generating systems?

Also take a look at the team. Who do you have working with you and what are their roles? Did they support last year’s business? Did they reach their goals? Were their goals congruous with your business plan? And let’s not forget that important last count: the one where you evaluate yourself, including how many hours you worked per week and how much vacation time you took during the course of the year or quarter.

Think of this business in review task as a report to imaginary shareholders in the business. They would need a reminder of last year’s goals, a comparison to the actual numbers, an analysis of the year’s operations and relative success, and an evaluation, ultimately, of your business strategy. The success of the past year forms the basis of your business plan for the next. You are able to determine if you need to completely overhaul your “to-do” list or merely fine-tune it. You are able to focus on the past year’s strengths in order to maximize their results for the future. You are also able to isolate weaknesses or “misses” and problem-solve them to a positive resolution.

The business “flashback” in review cannot be ignored if you hope to continue to grow your business into tomorrow. The necessary steps to planning for that future can only happen once you’ve seen what came before. That is when you learn not just from your mistakes, but from your successes. It’s then you can set the new goal and create the plan. It’s then you can focus your time and resources. It’s then you can make accountability a part of the process. It’s then you can move forward with the confidence that you have planned for an incredible year ahead.

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Coach Cheri Alguire helps Real Estate Professionals, even those who hate numbers, analyze and understand the numbers in order to create a more profitable business. Find out more at http://www.prorealestatecoach.com/ or http://www.RealEstateBusinessPlanningGuide.com/

Is Your Real Estate Business Running Smoothly?

noreply@blogger.com (Coach Cheri) — Mon, 23 Mar 2009 18:21:00 +0000

By Cheri Alguire

Let’s face it. The time to ask yourself, “Is my business running smoothly?” is NOT after you have just had a flat tire and are bumping down the road. The time to ask that question and analyze its answer is during the business planning process AND throughout the year.

A business is a complex machine with many moving parts. Well-maintained, it works smoothly and takes you where you want to go. But if just one part is neglected over time or overlooked, an eventual breakdown is certain.

To begin the process, take a look at your systems and how they connect to the big picture. Where, exactly, do they exist in the framework of your business and how efficiently are they running? Jennifer James, in THINKING IN THE FUTURE TENSE, reminds us that “systems thinking” can bridge the gap between reality and perception, and is probably the best way to problem solve (189.) Systems thinking “helps us understand that all parts of a business or a process are connected, and that when one part is challenged, all the others are as well” (189.) Typically, we may look at problems in isolation, but that may not solve the underlying systemic issues.

Let’s take an example of lagging sales. Agents are not making production goals; therefore, the cash flow or profit bottom line is not being met for the business. You could dismiss the problem as “it’s the market,” and continue to slump in sales. You could blame your team and look for new help. But if you look at all the systems that feed productivity: lead generation and marketing, listing systems, follow-up, people and support systems, you may be able to discover various cogs in the wheel that are preventing progress. Does listing inventory need to increase in order to produce leads? Are follow-up systems being utilized? Do team members need more mentoring or training? Could the answer to lagging sales be a team retreat that re-motivates and energizes the team members?

Systems thinking allows for and demands creative problem solving. Take Steve Jobs of Apple computers. Infamously “fired” at one time from his own company, Jobs loved the business too much to stay away from it. After creating PIXAR (among other projects) while on hiatus from Apple, he returned to regenerate not only the product (Macs) but the industry itself. While launching and perfecting iMovie (a consumer-friendly video-editing application) for the Mac, he realized that software wasn’t enough. In order to function properly, he concluded, it had to work in conjunction with several other components. He became committed to the goal that Mac would offer something unique by developing whole business systems for the personal computer. And of course from there, he made history: launching a little digital music business with iPod. (See pages 257-258 INSIDE STEVE’S BRAIN by Lenader Kahney.) Systems thinking was the key.

Systems thinking is not so much thinking “outside the box” as it is the wide-angle view. So pan the vista of your own business. What systems are in place? Are any missing? Of those that are operating, are they running as efficiently as they could be? Put the individual pieces together to create a smooth and successful whole. Problem solve with imagination and collaboration to fix issues that slow you down. Be cognizant throughout the year. Create and maintain a smooth-running machine.

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Coach Cheri Alguire has helped hundreds of Small Business Owners and Real Estate Professionals create and implement an effective Business Plan. For more information check out http://www.realestatebusinessplanningguide.com/ or http://cherialguire.com/