Random Thought Particles from a Real Estate Sales Manager in The Woodlands, Texas - Ken Brand, Better Homes And Garden Real Estate Gary Greene | 832-797-1779

How to Simplify Success: The Fix-It or Fire-It Method

Chapter 20 from the book Less Blah Blah More Ah Ha – How social savvy real estate agents become trusted, preferred, referred and rewarded.

“Whatever is happening to YOU now, YOU either created it, YOU allow it or YOU promote it.”  ~Unknown

Reread the above quote.  It’s the naked truth and reality for 97% of what happens to us in our real estate careers.  Success, challenges, and setbacks alike, we’re personally responsible.

Setting Things Right Is Simple

When we’re unhappy with the results we’re producing, we can take personal responsibility and reevaluate what, where, and how we do things, and who we’re doing them with.  Then we can employ The Fix-It or Fire-It Method.

The Fix-It or Fire-It Method

Your Current Listing Inventory Is Not Selling? Fix-It or Fire-It

To position your listings to sell, there are only three things you can tweak:

1.)  How attractively the property shows.

2.)   The competitive pricing position.

3.)   The marketing (advertising, broadcast, and promotion).

Evaluate these three factors, then fix or fire like so…

1.  Fix how the property shows compared to its competition.  Recommend appropriate interior and exterior refreshing, remerchandising, and restaging.  If the sellers won’t help themselves, fire them.

2.  Fix the competitive pricing position of your listing.  Present a detailed, in-the-present, pricing market analysis. If the sellers are unable to take logical action and won’t help themselves, fire them and go get some new salable listings.

3.  Fix the competiveness, persuasiveness, and effectiveness of your property promotion, marketing, and advertising.  Review copywriting, broadcast, photo, and presentation quality. If you are unwilling, or unable to compete and deliver as promised, do yourself and your sellers a favor; release them and fire yourself.

Current Buyer Prospects Not Buying?  Fix-It or Fire-It

Selling is very simple.  When a qualified and motivated buyer finds a property that fits their needs, they buy it.  Evaluate these three things, then fix or fire.

1.  Re-qualify your prospects for urgency, motivation, and ability.  If your buyer prospects can’t or don’t need to buy, fire them firmly and gently.  Don’t cut your ties or burn your bridges; stay in touch and nurture the relationship.  When and if their circumstances improve, you’ll be positioned to help them. Use the The Three-People Principle as your guide.

2.  Re-examine what you think your prospects are looking for.  Re-question and re-confirm your understanding of their desired amenities, benefits, location, and other important decision-making factors. If you’re unwilling to take the time to understand their needs and desires, fire yourself and refer them to a colleague.

3.  If you believe your prospects are motivated and financially qualified and you feel you understand what they want–and you’ve shown it to them—and they still aren’t buying, uncover the unspoken barrier: resistance, fear, or obstacle.  If you can’t figure it out and fix-it, fire yourself, and refer them to a trusted colleague.

Prospecting Activities Attract Phony-Balonies or the Sound of Crickets?  Fix-It or Fire-It

1.  Examine all your print and direct mail advertising.  How much money are you spending?  Is it paying for itself, plus a profit?  If it’s not, fire-it and redirect your money.

2.  Where are you advertising?  How often?  Who’s your target?  What’s your message and is it focused and attractive?  How many closed transactions has it generated in the last six months?

If it’s not profitable, fix something about it (the message, the medium, the frequency, the quality), then reevaluate in thirty days.  If it’s still not attracting prospects, fire-it.  Seriously, if it’s not profitable, STOP.

Is Your Leader Really a Loser?  Fix-It or Fire-It

Assuming you are committed, dedicated, and motivated, does your leader provide you with the intellectual, emotional, technological support, and leadership required to thrive?  If not, attempt to fix their shortcomings and talk to them about meeting your needs.  If they are unwilling to adapt, fire them and partner with a better leader.

If you feel you’re working with a bona-fide leader but your success is sketchy, examine your commitment, motivation, strategy, and execution. Then fix your future by making the required changes in your behavior, strategy, action, and activity.  If you’re unwilling to adapt, do your leader, yourself, and your occasional clients a favor: fire yourself.

Do Vendors Make You Look Magnificent and Send Referrals? Fix-It or Fire It

Recommending competent lenders, title companies, painters, plumbers, baby sitters, roofers, and service providers is what our clients expect us to do.  If the vendors we recommend aren’t reliable, courteous, professional, and a source of return referral recommendations, talk to them about your service requirements and your expectation of reciprocal referral recommendations.

If they are unwilling or unable to perform, bang-bang.  Next.

Are You Hugging-it-out with Friends or Slugging-it-out with Frenemies?  Fix-It or Fire-It

To have friends, you must be a friend.  If you are and they aren’t, talk to them about your how you two can fix your relationship.  If they are unwilling to be a friend, fire them.

If your friends are Debbie Downers, gossipy backstabbers, or two-faced, fire them.

If you’re a David Downer, gossipy backstabber, or two-faced, fix yourself.

Hang and hug-it-out with positive, supportive, bright people.  If you’re not, begin nurturing new positive and supportive relationships.

Our Shiny Future

As Oprah Winfrey is credited with saying, “We can’t become what we need to be by remaining what we are.”  I’ve shared six areas where immediate action will yield immediate results.  Your listings will sell faster, marketing dollars will work harder, you’ll leverage your time with qualified buyers and sellers, you’ll enjoy the benefits of competent leadership, and the warmth of true-blue friends will turn your life richer.

I guess the obvious question is, “When do we start?”

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Thanks for reading.  If you’d like to own the book you can CLICK HERE and you’ll be whisked to the Amazon.com book page.

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How Not to Flub Future Referrals and Recommendations – Chapter 19 from the book Less Blah Blah More Ah Ha - How social savvy real estate agents become trusted, preferred, referred and rewarded.

“You are the only person on earth who can use your ability.”   - M. Kathleen Case

It’s why we do all the bone-crushing, attitude-straining, heartfelt work.  

We work to create and earn confidence and trust.  When we succeed, people we know refer people they know to us.  Sweet success, right?

Sort of.

What I mean is, it’s epic to earn a referral recommendation, but we need to ensure that in our rush to help and deliver, we don’t flub our future by forgetting to show appreciation to the people who refer us. If we handle our referral business smartly, behaving in ways that reinforce the free-flow of future referrals, we can turn a singular golden referral opportunity into a perpetually producing referral gold mine.

In a moment we’re going to check out how to do just that. But first, let’s take a look at how future referrals/recommendations are flubbed:

Riley Foster, a motivated and qualified civilian calls Lois Lane the real estate agent, referred by Robyn, a mutual and trusted friend. “Hi Lois, my name is Riley Foster. We don’t know each other, but our mutual friend Robyn Brand referred me to you.  She said you were a great real estate agent, and I should talk to you about selling my house and buying a new one.”

Lois grips the phone tighter, goes giddy and does a happy dance.  Woo-whoooo, sweet Jiminy Cricket.   Life is grand, Lois takes a lay down listing and is set to sell Riley something new too.  Amen.

Lois goes right to work, hyper-focused on doing a proud job.  In all the excitement, Lois does not immediately call the friend who referred this golden opportunity.   In fact, Lois is so busy, and focused on doing a great job, that she neglects to touch base with her referring friend Robyn—until after the closing.

The scenario I just shared doesn’t sound bad — in fact it sounds normal, and a late thank you is better than no follow-up or thank you at all. But here’s the problem.  During the transaction, Lois doesn’t keep her referring friend informed.  By keeping silent, Lois keeps her deep appreciation and success a secret.  When our cheerleader friends don’t feel appreciated and acknowledged for referring us business, the likelihood of receiving future referrals is diminished.

Thankfully, these flubs can be fixed.  Earning a free-flow of future qualified referrals is fun, free, and easy.  Instead of thanking your referring friends after everything is done, try this.

How Future Referrals/Recommendations Are Reinforced, Rewarded, and Assured

Let’s take a logical look at how we can foster the free flow of future referrals.

We can begin by remembering we’re in the people business, which means we are in the relationship business.  As humans, we deepen our relationships by fulfilling our natural desires for feelings of significance, and a sense of certainty. When we receive the gift of referral, it’s important to acknowledge and appreciate the generosity of gift-giver.

Also, we need to keep in mind that when people make a referral/recommendation, they are putting their reputation and social capital on the line. It’s important to thank them for placing their confidence in us, and assure them we will do a great job and make them look like a hero for recommending us.

To Foster Repeat Referrals, Do These Two Simple Things:

1. Gush sincere appreciation.  Reinforce their wise decision to refer you by making a promise.  Promise that you will make them look good, smart, and cool for referring and recommending you.  Keep your promise (duh).

1. Tell them you’ll keep them in the loop, and do it.  Share appropriate progress and successes throughout the transaction (of course, don’t reveal any confidential information or compromise your fiduciary responsibilities).  Doing this will please the referrer, plus, because you are having In-Person, On-Purpose conversations with the very people who are sending you referrals, doing this will also position you to receive additional recommendations.

Showing your appreciation and keeping the friends who refer you business in the know is wise on many levels, don’t you think?  Isn’t this what you’d appreciate?  Amen again.

Digital Referrals, Recommendations, and Endorsements

It’s a new social media era.  Remember, when someone Facebook “likes,” “shares,” or “comments”; re-Tweets, tags, and/or otherwise shares your digital stuff, thank them and when possible, return the favor.

What Next?

From now on, as you receive referrals, show your appreciation, deliver remarkable service, and keep your referring friends informed.  They’ll love you for it, and share more referrals. Right now, if you’re working with clients who were referred to you, and you haven’t showered your referring friend with appreciation, reconnect, and come-correct

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Thanks for reading.  If I can be helpful, ping me – Ken Brand 832-797-1779

PS.  If you’d like to buy the book CLICK HERE and you’ll be whisked directly to the Amazon.com book page.  It’s available in eBook/Kindle and print format.

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