Illinois Mortgage 2-26-17

ILLINOIS MORTGAGE EDITION

BEWARE THE SNIOP!

TIPS ON BEING A GOOD TEAM LEADER COVER STORY

ADAM MILLER

MAKING A 'LEAD GENERATOR' WORK FOR YOU KILLING CLIENTS WITH KINDNESS AND VALUE

ILLINOIS MORTGAGE EDITION

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ADAM ADAM MILLER MILLER

CONTENTS 4) MAKING A 'LEAD GENERATOR' WORK FOR YOU

18) KILLING CLIENTS WITH KINDNESS AND VALUE

13) BEWARE THE SNIOP!

22) TIPS ON BEING A GOOD TEAM LEADER

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Making A ‘Lead Generator’ Work For You

by Carla Cross

When it comes to sales, some people just seem to have the ‘golden touch’. There are agents who seem to be able to convert ‘leads’ into appointments, while others struggle.

I had an opportunity to observe this time and again as a manager. Jerry, in my office, seemed to be able to convert ‘floor time’ calls into appointments with ease. (Floor time, as you may remember, is a scheduled time when agents answer inquiry calls from consumers).

George, on the other hand, seemed never to get an appointment while he was assigned floor time. In fact, George accused me of giving Jerry “all the good floor time”. From Jerry’s conversion rates of calls to appointments, it may have seemed like it. However, we simply rotated floor times with all the agents. No one got any better ‘floor time’ than any other agent!

Why did Jerry convert calls to appointments, while George struggled? You would know the answer if you just listened to each 4

man on the phone. Jerry immediately established rapport, asked great questions, and answered objections masterfully. He followed up immediately. He had awesome sales skills. George had no skills, seemed not to care much about the caller, and acted as though he was doing the caller a great favor simply by answering the phone!

A “lead generator” is anyone or thing that generates leads for you.

There are two types of lead generation: Pro-Active: You go find the lead (like calling on for sale by owners) Re-Active: You wait for the leads (like lead generating companies, floor time, and open houses) Too often, agents like George blame the re-active lead generating source for lack of quality of leads. On the other side, lead generating sources feel that agents don’t convert enough of the leads provided. Instead of blaming each other, we can take Top Agent Magazine

positive steps to assure that you can screen your leads effectively, and turn good leads into appointments.

Now, both agents and lead generating sources are happy!

The First Principle: Follow Up on the Lead Now! A web site lead costs $215 to generate, on average. Yet, a majority of real estate agents don’t even get back to a lead—ever! Why? I think there are three reasons:

you can’t just get back to a lead three days later. The consumer today expects to get a reply quickly.

I’m constantly amazed when someone thanks me for responding quickly about a product or a question about our coaching. Our standard for answering product and coaching inquiries is within the day.

What’s your standard for answering lead inquiries? (Which require much faster responses, in my opinion, than my ‘leads’).

There’s Competition For That Lead • Agents mistakenly think that the A few days ago, I was visiting with lead will be theirs forever—that my cousin, whose daughter just went there’s no time sensitivity to into real estate (she’s twenty-two).

She has immediately put technology answering that lead to work, creating an awesome • Agents believe there’s no database and contact management system. She’s selling up a storm— competition for the lead and making the agents in the area • Agents don’t know the cost of a mad at her. Why? Because she’s lead—in both time and money so getting to the consumers before the they don’t treasure that lead as if it other agents do. They thought they ‘owned’ those consumers’. But, my were gold cousin’s daughter is proving that no With the instant information age, one owns the consumer. She’s Top Agent Magazine

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turn that lead into an appointment. In my coaching program, Carla Cross Coaching, we find that developing agents lack the sales skills to optimize their time and energies. So, we The Second Principle: Give provide sales skills training resources to shore up their motivation and desire the Lead Its Value to reach their goals.

If you’ve ever spent time generating your own leads, you know what this Set Your Sites And Raise Your means. As a new agent, I knew Skills To Mastery about two people in the area.

Because I had no built-in network, I Our high accountability training did every kind of lead generation program, Advantage, is helping new known to man. I worked all the and newer agents capture the sales time. I learned by all my mistakes and organizational skills it takes to how to generate leads—and the convert leads more often. But, value of a lead. Purchasing a lead is training is only the start. It takes so much easier than generating your coaching to master any skill, along own. But, you must treat that lead with your determination to get like the potential gold it is, so you’ll really good at lead conversion. be the Jerry of sales, not the George. Decide today your standards for performance, what you want to The Third Principle: Develop master, and how you’ll go about it.

Now, you’re on your way to Your Sales Skills becoming a top producer!

Following up on the lead immediately shows you value the lead. But, that’s Copyright©, Carla Cross. All rights not all. It takes specific sales skills to reserved. demonstrating that those who put technology to work effectively today capture the consumer’s attention and loyalty.

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ADAM MILLER Top Agent Magazine

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ADAM MILLER Currently celebrating his 15th year in the mortgage industry, Adam Miller’s clients benefit from his personal and business philosophy: Do unto others as you would have them do unto you.”

Top Loan Officer Adam Miller of Midwest Equity Mortgage in Oak Brook, Illinois knows his business intimately, which, initially, was a family affair having worked his way up from the ground floor at his mom and stepdad’s mortgage company 8 Copyright Top Agent Magazine

following an initial foray as a corporate human resource manager.

“Transitioning from HR to mortgages wasn’t a huge stretch,” he says. “Both fields require management of sometimes comTop Agent Magazine

plicated processes and guidelines as well as offer the opportunity to work directly with people.” Adam was a quick study under the mentorship of industry veterans at the family’s company, many of whom work with him today at Midwest Equity.

Adam is quick to point out that he received no special treatment when working at his mom and step-dad’s company. “My parents were very clear that nothing would be handed to me. I truly started as an entry level administrative assistant answering phones, delivery mail, and even cleaning the office at the end of each workday.” His Top Agent Magazine

time spent in the trenches paid off handsomely, and today Adam is providing his almost universally satisfied clients with paramount service that even his strongest competitors struggle to match.

Currently celebrating his 16th year as a loan officer, Adam’s clients benefit from his personal and business philosophy: “Do unto others as you would have them do unto you”. His adherence to this Golden Rule assures him repeat and referral business from his large clientele. While owning a home is one of the most rewardCopyright Top Agent Magazine 9

ing experiences in life – it can also be one of the most stressful and Adam strongly believes that it is an honor and a privilege to have his clients trust him with what is possibly the largest purchase of their lives. This is also why his realtor partners can count on him to make sure every intricate detail of the loan process is being addressed with unparalleled professionalism. “I treat everyone I work with the same: the way I’d want to be treated,” says Adam. “My realtor partners are confident in referring their clients to me because they know this is Copyright Top Agent Magazine 10Copyright

how I approach every prospect. It’s how I’ve built my business over the years.”

Marketing is a priority for Adam, and to that end he is constantly reaching out to his realtors and clients, hosting numerous events each year, including “lunch and learns” education-building sessions, networking events, and client and realtor appreciation parties, which has galvanized the faith they have placed in his excellent customer service. “My relationships with my clients and business partners doesn’t end at closing; I continue to provide cusTop Agent Magazine

tomer service above and beyond everyone else, it’s going to set me apart,” he says.

Thoroughness and attention to detail is another hallmark of Adam’s business approach. “I’m extremely organized,” says Adam. “This profession involves a lot of paperwork and intricate rules and guidelines.

By the time I submit a loan to underwriting, I’ve addressed any issues. I view it as a done deal. The underwriter is basically just stamping the seal of approval on it. Nobody likes surprises in the loan process, it can be stressful enough for the client as it is.”

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2016 was the high point thus far in Adam’s career, with twenty million dollars worth of transactions closed. Still, Adam is driven to exceed that tally in 2017. “I feel I can do better,” he says, and his stellar track record ensures that this is a goal he will easily achieve. “There’s always room for improvement,” he says, modestly.

“If there’s one thing that I love most about my career it’s seeing the joy of a first-time home buyer at closing, or the excitement of saving my borrowers hundreds of dollars a month with a no-cost refinance.”

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For more information about ADAM MILLER, call 630-768-1298 or http://www.justingrable.com email Adam@MidwestEquity.com 12Copyright Top Agent Magazine

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Beware the SNIOP!

by Barry Eisen

Daily, Greg was growing more like I said, unfriendly, rude, eh! And excited about his upcoming, first did you see the Pope? Ha—I’ll bet all you could get was his postcard.” trip to Rome.

Finishing up all the last minute Brimming with enthusiasm, Greg details, with just two days to his offered “Al, It was the best flight ever. flight, Greg headed to his barber, Al, Everyone was so accommodating. I was treated like family, and the people for a haircut. with whom I stayed showed me the Sharing his excitement with Al about sights as if I were royalty. Oh, and the upcoming trip, Greg bubbled when I got to the Vatican, not only did about staying with local people, I meet with the Pope, I had a private eating homemade, Italian food and audience. It was awesome and I’m so even having an audience with the grateful!”

Pope. Al put down his scissors and started droning, “You know traveling Al, astounded to hear all this, asked is so hard these days, such a long “What did the Pope say to a nobody boring plane ride. Rome, of all places! like you?” “Well,” Greg replied, “as It’s hard to get around. They drive I bent forward to kiss his Holiness’ like crazy, the people are rude and the ring, he wanted to know one thing... streets…disgusting! The Pope? Ha! and asked me, ‘Who gave you such You’ll never get close to him.” Greg, a lousy haircut?’’ feeling a little deflated, left the shop.

SNIOP After his trip, Greg popped into the barber shop. Al started digging in SNIOP is an acronym for a person immediately, “Well, didn’t I tell you who is: Susceptible to the Negative about the terrible flight? The people, Influences of Other People.

’

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Greg didn’t play that role in the anecdote above, but do you? More importantly, are you willing to discover the subtleties of when you are? And most significantly, if you are, are you willing to take back responsibility for directing your own play, hearing your own song, standing up for your own dreams, living your own best life?

Being a SNIOP is not about being just influenced by others. We are and we ought to be. We don’t live in a vacuum and the fastest way to create 14

success is to copy it. That means we want to not only allow influence, but to encourage ourselves to be impacted by the thinking and actions of those coaches, mentors and success models who’ve held high the bar of personal and professional excellence.

The goal is to not be influenced by the negative and the limited. It’s about: 1. Bringing conscious choice as to whom we invite to impact us, and 2. Seeking direction and guidance from the best vs seeking approval and opinion of the many (or the “Any”).

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Ask yourself in what ways your world view is colored and shaped by those around you? In what ways— dig deep here, look for the subtle, do you allow yourself to be impacted by the leaders who can advance you or the negative opinions of others that can limit you?

• Do you use your inner voice with an “I know that,” to stop you from hearing those who have messages that can advance you?

• Do you seek approval by others when the authority should be your own inner voice?

The best way to predict the future is to create it. We create it by intentional focus on our consciously chosen VISION. I’ll bet you’ll agree that driving forward while only looking in the rear view mirror is a recipe for disaster. It’s no different whether we are in the driver’s seat of our car or the driver’s seat of our daily attitudes.

We GO where we LOOK, so we want to guard where we look. Why put on the glasses of those who look to their world with negative attitudes and limited expectations, when we can immediately and consistently commit to playing with those going our way?

Who are the people with whom you surround yourself? Who are your Top Agent Magazine

coaches, teachers, friends, religious leaders, mentors, trainers and business associates? What do you choose to read, watch on TV, browse on the internet, and attend for entertainment? Who you watch and read are the pals with whom you’re hanging. Are you listening to: • Gossips on how to have good relationships?

• The impoverished on how to make money or to invest it?

• Couch potatoes on how to be healthy?

• The mean-spirited about loving?

• Failing students on how to study and succeed?

There is an alternative and it’s a shortcut to success: 10 Points to CREATE Your BEST (and avoid being a SNIOP) 1. Surround yourself with successful supportive people in the arena of each goal. Listen well to those who listen well and hear constructive criticism.

2. Choose goals that make you stretch and grow in positive directions.

3. Model yourself in the mental, physical and emotional habits of those who are positive and successful.

• Eat well, exercise with consistency.

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It’s all rehearsal for the life you live, by choice. You become what you think about.

• Make time to relax and focus on positive thoughts and solutions.

• Prioritize the highest good and long term payoff.

• Share more smiles and laughs.

4. Put your goals on paper and review them daily.

5. Commit yourself to do what’s right, not what’s easy.

6. Value friendships with those who have good to say about others and value friendships.

7. Read worthwhile literature by people who have excelled where you want to go.

8. Develop a wealth mentality. It’s one thing to be broke, it’s quite another to be poor. With a wealthy mentality and no money in the bank, a person is broke but not poor for the riches of possibility and the willingness to do the work to create the change.

9. Be open to the inspiration of others. Better yet, be an inspiration to others. Don’t only avoid those SNIOPS, don’t be one.

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10. Make time daily to be still and reflect on your day. Celebrate those places where you fulfilled these steps.

Celebrate your awareness of the moments when you didn’t. Re-create the negative moments when you either rained on others’ dreams or when you were a SNIOP. Imagine those scenes as if you behaved the way you’d consciously choose. Then Replay those the new way in your mind’s eye.

It’s all rehearsal for the life you live, by choice. You become what you think about.

Thank you for investing this time with me. And thank you for passing this to others who may benefit.

Barry Eisen teaches personal development seminars and coaches Southern California top producing REALTORS®. “Your business will never grow more than you do” is the theme; self hypnosis and behavior modification are the tools for playing a bigger game. barryeisen.com, barryeisen@LA.twcbc.com 818-769-4300 Top Agent Magazine

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Killing Clients with Kindness and Value

By Walter Sanford

Sometimes, we need to “kill” our clients with kindness and offer value. I know it goes against everything in our nature to turn the other cheek when they are being mean.

Recently, a coaching client had some challenges with a particular client, and I’m sure you have also worked with the kind of client who discourages you so much that you just want to hit the delete button!

How about offering a response that increases your fame and makes the client always wonder what they may be missing? They might not list with you, but they will never forget you.

Included in the balance of this article are the email from the client, the request for help from my coaching client, and then my suggested response.

Email from the Potential Client: Sorry, I have been really busy. Let me tell you where I’m at with everything. You may or may not be interested.

I am definitely putting the house on the market. The house has been rented for the last 5 years with the same family. They originally signed a rent to own lease. Three years ago, they decided they didn’t want to buy it.

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Anyway, I recently informed them that I’m going to put the house on the market. Now, they are reconsidering buying the house. I don’t think they will buy the house, but I guess you never know. If they do buy the house, it would be for sale by owner. I will not let them drag their feet.

We happen to know a lot of REALTORS® in (area). Some are pretty good friends and with that comes opportunities at rates way under the norm. One of them did sell our last house quickly but circumstances have changed. I know you are a very good REALTOR®, because I have heard other REALTORS® talk about you.

You may not be interested at this point anymore. If you are still interested, let me know what your best rate is. Let me know if you are okay with the current tenants on a “for sale by owner” agreement, if that happens.

I would want a short-term agreement. The current rent is higher than my mortgage payment so I’m okay if they don’t buy and I’m not forced to sell at a low price. However, I want to sell ASAP. I’m wanting to purchase another property so I’m not going to overprice the house and I will negotiate.

Email from Coaching Client to Me: Walter, this guy is a college basketball coach. I want to help him, but I need to have a chance to run a successful business, too! How do I answer this?

Email from Me to Coaching Client (to share with potential client): Thank you so much for the nice words. It is very exciting to hear that our hard work is creating some buzz. I think we can accommodate you and exceed your expectations: Top Agent Magazine

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1. We believe that we exceed client expectations more often than most agents, because we spend the time to understand what the client needs.

Then we develop a customized program to meet and exceed that goal.

We would love to help you in accomplishing your real estate needs.

2. We would be happy to exclude the current residents from the listing agreement for 30 days. This would help in motivating the current residents to buy in that they can see the price discounted by the commission, if they commit to buy within the 30 day period. We would like to offer you our closing service that handles everything for a flat fee of $4,000. This handles the contract phase, aligning the team of affiliates, and the closing. This, of course, is at your option.

3..Our commissions are normal for our market, but we save you money over any commission discounter. Our specialty is increasing your net proceeds. We do this by bringing you more buyers with more effective marketing, better negotiating, better systems for handling inspections, better pre-approval tools for your buyer, better contracts, and less post-seller litigation from better contracts. Commission discounts usually cost you money because of the agent’s lack of emphasis on your net proceeds check. It is like a basketball player who is playing with no heart, only for the scholarship.

4. Our rate is retail 6%. This may eliminate us, but that would be a shortsided conclusion. Here are 5 of the ways we can beat any commission discount: A. We beat the average List to sell ratio in (area) by a larger margin than any discount.

B. We beat the days on market, which affects your carrying costs and lost opportunity costs on your equity.

C. We have a low litigation rate as compared to national standards.

D. We can market your home a little over retail due to our marketing.

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D. We urge a pre-inspection plan to get rid of the little and big problems before a buyer is involved and wants everything built new.

5. Our agreements are 6 months, but that is not what sells properties.

Marketing and price sell property. If we are wrong about those two items, we will adjust every week based upon showings and consultations with you.

6. I would also like to advise you on a misconception. Rental costs average about 35% of market rent in our area. Add in lost opportunity costs on your equity that is not doing anything at this point. I can show you how your current position is losing you money every month.

I think our next step is a presentation of the tools we bring to achieve your goals. Listing with friends is loyal, but is it the best business decision?

Do they have the tools and will you hold their feet to the fire when the results are not what you need? (Client’s name), you know the difference superstars make on a team. Let’s go for the win.

It’s not so much whether my coaching client obtained the listing, but he needed to stand up for a profitable, long term business. Never sell yourself short to get business. You will never be happy.

In these situations, I cannot guarantee an outcome, but I can guarantee the client will never forget you. You are planting seeds of discontentment with the small amount of money saved in a commission compared to not achieving their goal. Whether he/she admits it or not, he/she will have respect for you.

Do more lead generation so you won’t have to work so hard on leads like these.

Copyright©, 2015 Walter Sanford. All rights reserved.

Walter Sanford has been designing and implementing real estate systems for 30 years.

One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry. Do what works, do what is proven. Hire Walter Sanford. Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com.

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Tips on Being a Good Team Leader Your business is booming, so much in fact, that you’ve finally made the decision to start a team. You’ve made sure it’s financially feasible, and you’ve found the right people, but there is still one other component of a successful team. And that’s an effective leader. It’s your job to not only generate business, but to motivate your team, which in turn increase productivity. Here are a few simple tips on being a good team leader.

1. Evaluate each team member, making sure to utilize their strengths Hiring the right people is one of the first steps in creating a successful team, but once you have those people it’s really 22

important to figure out where they best fit into the operation. Having every team member be an ‘expert’ in their part of the process leads to seamless transactions and a business that runs like a well-oiled machine.

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Of course it’s also important to create a supportive atmosphere that allows team members to stretch beyond their comfort zones, under your guidance. It’s to the whole team’s advantage when people take initiatives to up their game by taking additional training or mastering a new and innovative technology that can improve productivity. The key is to constantly evaluate not only your systems but the people running them. It’s your job as a leader to encourage that personal growth while making sure to always protect against any major misfires. Which leads us to…

2. Always reevaluate what is and isn’t working It’s a good idea to have a weekly meeting where the whole team can convene and go over any snags they may have hit in the systems that you developed when starting your team. Your team is in the trenches with you and since everyone probably focuses on a different aspect of the transaction, it’s important to make sure things are working on every level. Make sure copious notes are taken during these meetings so you have a track record of what was suggested, as well as a history of things that may have been tried and the results.

Another good thing to focus on in these meetings is goal setting. Set weekly and monthly goals, and use the meetings to discuss what’s being done or needs to be done to meet them. When goals are met, it’s a great bonding experience for everyone. When they aren’t, it’s a moment to learn how you can do better in the future.

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Don’t forget to always take in what you can do to be a better team leader as well.

3. Stay connected and in communication These are your team members! There’s more to that than just a label. Be connected to them on a daily basis. Clear, open and honest communication is important on a busy team and that’s much easier if you actually like and trust your co-workers.

Sure you want to succeed for yourself, but knowing that other people you respect are counting on you, is an additional motivating factor, that is certain to lead to everyone going above and beyond creating a wildly successful business.

4. Be inspiring and supportive If you’re enthusiastic about what you’re doing, it really will be infectious. Encourage innovation and creativity. Yes, systems and consistency are great but don’t let your team get in a rut either.

Support their individual careers, always encourage them to go for more, let them rely on you for mentorship. If they sense that you want each member to succeed as much as you have, you won’t find more loyal employees. And perhaps most importantly focus on what’s being done right. Don’t be the boss that just points out things they don’t like. Let them know when they’ve done an amazing job and be specific about what it is. Make them feel valued and they will become a valuable asset to you and your business.

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