Los Angeles 4-16-17

LOS ANGELES EDITION

Would you Like FRIES WITH THAT? Drip Those ONLINE LISTING LEADS

COVER STORY:

RISING STAR

ADAM PRICE

Turning Your Profession Into A PASSION Managers and Team Builders: FOUR PRINCIPLES TO DEVELOP A GREAT TEAM

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LOS ANGELES EDITION

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ADAM PRICE

CONTENTS 4) WOULD YOU LIKE FRIES WITH THAT? 13) MANAGERS AND TEAM BUILDERS: FOUR PRINCIPLES TO DEVELOP A GREAT TEAM

17) TURNING YOUR PROFESSION INTO A PASSION 20) DRIP THOSE ONLINE LISTING LEADS

ADAM PRICE

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Would You Like Fries With That?

By John Boe

While you may not have recognized it, the last time you ordered from a fast food restaurant or went to the post office, there is a good chance you experienced some type of cross-selling or up selling.

Cross-selling and up selling are well-established and highly effective marketing practices utilized by a wide variety of industries.

Shortsighted salespeople are often quick to suggest that customers get irritated by attempts to cross-sell products and perceive cross-selling as an aggressive sales technique. Interestingly enough, consumer research indicates that the reverse is true. The majority of consumers surveyed actually preferred a full range of products and services and appreciate the convenience that is provided through a comprehensive cross-selling approach. Top producing sales reps and progressive companies understand the power of crossselling and recognize it as a critical component for promoting both customer retention and revenue growth.

What is cross-selling? Cross-selling is nothing more than a proactive, ongoing sales process designed to provide your customers with a full spectrum of your company’s products and services. Not surprisingly, two of the key elements that drive effective cross-selling and up selling are trust and convenience.

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Your customers’ trust in your company can be converted into additional sales that are not directly related to their existing products. The good news about the cross-selling and up selling process is that it’s one of the most profitable and least risky endeavors a sales rep can undertake. It pays to cross-sell and up sell, because when you go the extra mile and provide information about additional products to your customers, you are financially rewarded for helping them make a more informed buying decision.

The first exposure I had to cross-selling and up selling was as a teenager in high school working part-time at McDonalds during my summer vacation.

Looking back on my brief tenure at the restaurant, I can still hear my manager’s daily refrain; be polite, keep the counter clean, and always ask the customers if they would like some fries with their meal.

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A couple of years later while attending college, I took a part-time job selling shoes at the mall. I was paid an hourly wage to sell the shoes, but I received a commission whenever I sold any accessory items such as shoe polish, socks, or purses. This was my first taste of commission-based sales and I took to cross-selling and up selling like a duck to water. After I had sold a woman a pair of new shoes, I would routinely hand her a bottle of leather cleaner and a purse to match the shoes. As a college student, the extra money I was able to make from cross-selling and up selling additional products was like manna from heaven.

The best place to introduce your customer to the concept of cross-selling and up selling is during your initial needs analysis meeting. Unfortunately, many salespeople fail to take the time to conduct a thorough needs analysis and as a result, do not uncover potential products and services that would be of benefit to their customers. The key to effective cross-selling and up selling is all about guided self-discovery. Through a series of thought provoking, open-ended questions, successful sales reps help their customers identify the products and services that they require.

Developing a systematic approach to cross-selling and up selling enhances the customer’s buying experience and brings in additional revenue with relatively low expense and effort. As you prepare for your next sales appointment, I challenge you to look for cross-selling and up selling opportunities that you can incorporate into your presentation. Sales reps who fail to effectively cross-sell and up sell products actually do a disservice to their customers and leave the back door open to their competitors!

“The sad truth is that most salespeople forget to cross-sell their products and services. This is a big mistake, because cross-selling gives customers more options and is a good way for a sales rep to make additional income.”

– Don Roberts Copyright ©, 2016 John Boe. All rights reserved.

John Boe presents a wide variety of motivational and sales-oriented keynotes and seminar programs for sales meetings and conventions. John is a nationally recognized sales trainer and business motivational speaker with an impeccable track record in the meeting industry. To have John speak at your next event, visit www.johnboe.com or call 937-299-9001. Free Newsletter available on website.

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ADAM PRICE Top Agent Magazine

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Knowledgable, personable and an expert at customer care, Adam Price has yet another characteristic many agents don’t: he’s funny. Who doesn’t appreciate that during the challenges of a real estate transaction?

Real estate was on Adam’s radar from early on, so he actually attended college for it. As a result, he’s as knowledgable as they come about contracts, laws, disclosures, etc.

Adam opened his own home-staging company in 2012, arranging interiors for large builders from the Valley to Vegas. Along the way, he connected with numerous Copyright Top Agent Magazine 8

Realtors who loved their work. “Everyone asked me why I didn’t just go into real estate,” he says, “so I slowly transitioned over to that.”

It paid off. Now in his third year, Adam serves Calabasas, Beverly Hills, Bel Air and Hidden Hills with a remarkable 65 percent repeat and referral rate. He’s young and driven, qualities that contribute to his success. “Other agents might send assistants out to meet with clients while they focus on generating new listings,” he says, “but I interact with clients the entire time.” He Top Agent Magazine

Adam Price serves Calabasas, Beverly Hills, Bel Air and Hidden Hills with a remarkable 65 percent repeat and referral rate. develops close relationships with them and does his best in every aspect of customer service. Clients are always impressed.

Adam uses a variety of methods to market his listings. First is staging. Thanks to his previous experience, he understands what people are looking for and knows Top Agent Magazine

where furnishings should be placed. While he doesn’t do it himself, he works handin-hand with professional stagers. Then, “Professional photography is a must.” he says. “Even if it’s just a $300,000 listing, you have to have it.” He also creates an advertising plan and goes over it with the homeowner. His company also has a mulCopyright Top Agent Magazine 9

titude of integrated marketing products: listings are posted on all the websites, taglines are added, etc. His most successful marketing method, though, is holding open houses. He puts out as many signs as he possibly can and meets as many people as he possibly can. It works.

Another critical aspect of his success is staying in touch with clients after the transaction closes. He sends newsletters, uses email drip systems and personally calls his past clients on a monthly or bimonthly basis. In fact, new clients sometimes tell 10Copyright Top Agent Magazine

him their previous agent never kept in touch. That’s not Adam. And that’s another reason his repeat and referral rate will continue to rise.

“My favorite part of real estate,” he says, “is handing people the keys to their house.

Often they’ve been waiting a month or two, challenges have come up—but once they get past the drama, I love looking at their faces when I hand them the keys. I’ve never had a client not be excited about that.

It reassures me that I’m actually helping them.”

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“My favorite part of real estate is handing people the keys to their house.”

Right in line with Adam’s passion for helping people in real estate is his work with parents and children in the community as the owner of an acting school. Between working and helping others, he loves to travel, see new things, and go to the beach.

In the future, Adam plans to help as many people in real estate as he can, especially Top Agent Magazine

as the market changes. “We have low inventory now,” he says, “but it can’t stay that way forever. I want to help people navigate the market, help them determine whether a particular house is a good investment. I strive to be the community and market expert.” He’s already got a great head start on that goal.

Copyright Top Agent Magazine11

Adam.Price@SothebysRealty.com

12Copyright Top Agent Magazine

www.AdamPriceEstates.com

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Managers and Team Builders: Four Principles to Develop a Great Team

By Carla Cross “I work alone.” “I don’t need to be a member of a ‘team’”. We’re heard that for years in the real estate industry. Yet, the strongest, fastestgrowing real estate companies have team building as part of their cultures.

Agents who want to expand their businesses create teams. So, TEAM is no longer a four-letter word. The importance and implementation of leadership through teamwork and synergy is back in style in the real estate industry.

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Why Building a Strong Team is Important to Agents AND Management

As with all industries, the real estate industry is evolving. We’ve gone through the ‘go it alone’ phase. Because we’ve gotten more sophisticated in business. We realize that no one succeeds alone. We understand now that people working together create something more substantial than the sum of the parts. In addition, 13

with the challenges in the business, we finally get that many minds focused on the same task can accomplish much more than each person working as his own little island.

Supporting this trend, strong company cultures have emerged which encourage and reward teamwork instead of solely independent achievement.

Do you have a job description for each of your team positions?

Do you provide it prior to hiring?

Talking About Team-Building is a Slam-Dunk

It’s much easier to talk about teamwork than to create a team. One of the reasons is that most of us have never worked as a team before. As an agent, I didn’t create a team. But, in my management career, I worked to create teams with common focus.

How did I learn how to create great teams?

An Unlikely Place to Learn Teamwork

My first experiences in great teams, and then leading teams--comes from the world of music. I’ve created and Franklin D. Roosevelt said, “People led teams as a jazz musician. I’ve acting together as a group can accom- played in exceptional orchestras plish things which no individual (I’m a flutist). I’ve seen conductors acting alone could ever hope to bring pull together one hundred disparate, temperamental, independent musicabout.” ians as an inspiring team. (It’s a lot If you’ve ever played on a sports like managing a real estate office!). team, you know the chaos that en- So, the four truisms here come from sues when every player tries to be the my experience in both worlds—the star—to go her own way. That’s not musical performance world and the a team. That’s a group. You may also world of real estate team-building. know the joy of playing on a team that shares a common focus and It’s Not Just About Developing commitment to excellence. What a YOU as a Leader difference! What if you could bring that into your real estate office or You may think that, as a leader, your your agent team? job is to find team members that 14

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Just because people accept a position doesn’t mean they know how to proceed with the job. They need to have clear direction, a job description and a firm understanding of the responsibilities--prioritized. Do you have a job description for each of your team positions? Do you provide it prior to hiring? Do you coach to One of the differences between lead- it? Do you help your team members ing a group and leading a team is that, get so good at it that they can start in a successful team, team members training new team members (move also become leaders, and think like into leadership)? leaders, looking out for the good of the team, not just for themselves, In “Teamwork is the primary other words, will work well together. That’s true, as far as it goes. But, your ultimate job is to train and coach those team members to start doing some of the leadership jobs you’ve done. That way, you can keep moving to higher levels of leadership. You can expand and sell your business.

ingredient of success.”

Leaders develop leadership on their team.

Otherwise, leaders are not really leading. They’re managing—or micromanaging. From developing leadership over a couple of decades, I’ve found four major truisms for developing your team with strong internal leadership. These principles apply whether you’re in management or in sales interested in building a team.

Principle #2: People don’t know WHAT to do to get the job done.

Even if you hire someone who has real estate experience, it doesn’t work to leave it to them to figure what exactly needs to be done—from your point of view. They don’t know your priorities. They don’t know how you work. Do you have processes and systems in place to teach them exactly what needs to be done?

The Principles to Developing Team Leadership

Principle #3: It’s your job to teach them HOW.

Principle #1: People don’t know what’s expected of them.

Some people think “leaders” are the “idea people” and aren’t supposed to

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get into implementation. But if you want your team to excel, you must show them how. Having worked with assistants for over 15 years, I have found that assistants and team members need help in systemizing any process that you want done. They need help in developing dialogues to deal with affiliates and consumers in the way you expect. They are good at systemizing their own processes-but not good at all at systemizing ours! Help them.

regularly”. Hold your team members accountable for each step along the way to completion of a task as well as the end result. Do you have solid, measurable benchmarks from which to measure? How do you know you and they are succeeding?

All systems in place? Do you have foundational systems in place from which to improvise? Do you have a solid training program to bring a new team member on board? Do you a method to ‘clone’ yourself to develop someone who can take over your job?

Vince Lombardi, one of the greatest football coaches of all time, said of teamwork, “Teamwork is the primary ingredient of success.”

The pay-off for developing competency and leadership skills in all of your team members is a business that is ‘owned’ by all those involved, with empowerment assured.

Your goal is to develop processes, systems, and training for your team members—all which reflect your philosophy of how you do business.

Principle #4: When accountability They reflect your values and your factors aren’t built in, things don’t culture. Bring them into a leadership get done. mentality with you, so you can delegate more responsibilities and There’s a great difference between finally replace yourself! “do it the way you want” and expecting results and “do it the way you Copyright©, 2015 Carla Cross. All want and let’s check how it’s going rights reserved.

Carla Cross, CRB, MA, is an international speaker, writer, and coach, specializing in real estate management. Her Leadership Mastery Coaching program is unique in the industry.

A National Realtor Educator of the Year, Carla was recently named one of the 50 most influential women in real estate. Join Carla’s Community and receive special offers and free resources. Contact Carla at 425-392-6914 or www.carlacross.com.

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Turning Your Profession into a Passion The old adage goes that if you do what you love, you’ll never work a day in your life.

On the other hand, it’s easy to get bogged down in the day-to-day worries and responsibilities of your career, even if you generally enjoy what you do. While there’s no guaranteeing that every day on the job will be a picnic, there are a few steps you can take to vastly improve your morale and transform your profession into a passion.

After all, cultivating a passion for what you do will not only add to your quality Top Agent Magazine

of life, but will likely make you more successful in the long run.

BUILD YOUR BASE OF KNOWLEDGE Knowledge builds confidence, and confidence breeds success. A sure way to light a fire in your heart for your daily work is to challenge yourself to learn more and expand your understanding of your field. By doing so, you equip yourself for success, create challenges, and find the most inter-

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esting features of your work—especially those that most appeal to your interests and talents. Try reading the top five books on the topic of your industry, or subscribe to a podcast where thriving professionals offer their two cents. Either way, learning more about your industry is bound to reveal a source of inspiration worth pursuing.

THINK ABOUT THE BIG PICTURE

and excelling in your field, you may find that others’ approaches inspire your own.

Likewise, what you learn from other successful, passionate people in your field can help you shape your own office and work life, in turn creating more opportunities for you to fall in love with what you do, all over again.

TAKE RISKS

CONNECT WITH LIKE-MINDED PROFESSIONALS

One of the biggest hindrances of professional passion is falling into a rut. Routines are familiar and everyday responsibilities vie for our energy. But the next time you tackle a task the way that you always have, take a moment and try to refresh your perspective—is there a more clever or efficient way you could approach this project?

Even better: why not take the plunge and do the things you’ve always been meaning to—throw that client appreciation event you’ve put off planning, take the continuing education course you keep forgetting to register for, even try a creative activity that pushes you out of your comfort zone.

There’s no better way to inject some passion into your life than by going outside your bubble and taking a risk.

Have you ever chatted with someone who was overflowing with energy for what they do? That sort of passion tends to be infectious—often causing us to beg our own questions about professional engagement.

By participating in local organizations or networking with those who are active

Passion comes from all directions—from your own interior journey and from the world around you. To transform your profession into a passion worth having, invest in yourself and venture into the vast world around you. You’ll surely reap the rewards.

Sometimes reinvigorating your passion for your work is about looking outward, rather than inward. Gain some perspective and consider who your work helps in the long run. As a real estate professional—whether you work as an agent, broker, in mortgages, home inspections, or otherwise—your work positively impacts someone else’s home-sweet-home. You make a difference. While it may seem like just another day at the office, taking a moment to visualize exactly who you are helping in the world at large is a great way to add some motivational fire to your daily tasks.

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Drip Those Online Listing Leads

By Walter Sanford

My coaching clients are beginning to find more success with their online listing leads. Whether the lead is coming from postcard-generated invites to complete forms on their site or third-party consolidator leads, the web leads are coming in. The problem with a lot of these leads is bad phone numbers but good email addresses. The question is - how do we engage them in a conversation that leads to a listing appointment?

Uncovering the seller’s needs prior to an appointment is always the first step in creating client satisfaction, but it’s very difficult to do without good contact information. By showing these potential sellers value, my clients have found that many sellers who wanted to remain anonymous are now holding up their hands and shouting “I want some of that!”

The drip system that creates this kind of excitement is one that’s immediately started after the lead is received. The system shows the value that you can bring to their discovery process. Every three or four days, send an email that lets them know that there is so much more that a top, local, professional agent can add to their search.

With my clients, we only give a little bit of information at a time. Usually within a few weeks, we have the serious leads contacting the agent for an over-the-phone consultation.

Below are some of the points that we stress in our drip system email campaign for online listing leads: 20

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Week One: Thank you for contacting us for more information regarding the sale of your property. I hope the information we have already provided was of some help to you. We believe that a real estate relationship should be based on the client’s needs. Once we know those needs, we have some very unique solutions that our past sellers have mentioned were available nowhere else. Please give us a call so we can supply some unique answers to unique challenges.

Week Two: In our earlier email, we talked about unique solutions. One of the unique solutions we provide our sellers is a pre-listing consultation.

Go to www.(yoursite).com/prelistingconsultation to answer a few questions and schedule a phone call that’s convenient for you. This will allow our team to be better prepared to give you some insights regarding what to expect in this market.

Week Three: In continuing our theme of delivering value to our potential sellers, one of the most appreciated value propositions that we give our potential sellers is our “seller education system.” If you call us, we can program a search for brand new listings each morning. The search will include specs that compare to your home and the results will be emailed directly to you. This provides you with brand new listings that would be competing with your home, if it was on the market. This makes you the most educated seller in town knowing what the competition is. You’ll receive these new listings at the same time agents in (your town) receive them!

Week Four: Occasionally, we have a seller who isn’t interested in considering a sale unless he/she knows the value first. We came up with a solution that eliminates a lengthy listing presentation. We call this our free 48-hour phone value analysis. Go to www.(yoursite).com/valueanalysis.

Complete the form and within 48 hours, one of our team members will call you. Based upon the same comparables that appraisers would use, we will let you know the value of your home. This is a fast and inexpensive way to bridge the gap of an expensive appraisal or a time-consuming listing presentation with a service that can be just as accurate. There is no charge for this service, and we are happy to put the numbers together for you!

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Week Five: One of the services that our sellers most appreciate is our “meet the team” concept. You can go to our website or call us directly for the contact information on a trusted team member for almost any service.

We know the best plumbers, HVAC techs, electricians, roofers, landscapers, painters, carpenters, and carpet installers in the area. We use them on our own homes, we trust them, and we have long business relationships with them. If you need anything done around your home to prepare for a potential sale or if you just want to get it ready for a special occasion, we know who does the job well here in (your town).

Week Six: Our sellers get higher prices because we make their homes desirable to buyers! We call this service our “primp and polish” service.

Any consultation is free! We can provide you some simple tips to make your home more inviting to buyers. We will point out any potential red flags and help you place furniture to get things ready to create that emotional pull. We have professional decorators on call. Their services cost money, but we have found their service is a good investment based on the additional monies that we receive for our client’s properties. The initial consultation is free! Please give us a call so we can set this up for you.

Week Seven: Did you know that our company has access to a majority of the top real estate agents in any city in the world? If you are considering selling your home here and buying out of town--we can send you to top agents who understand your needs. Top agents know they can’t solve client’s challenges without first knowing what those challenges are. If you want a special house out of town, then give us a call. We know agents who will not only show you standard MLS properties but also properties that are not yet on the market. We call these “secret properties.” These secret properties can be owned by past clients who might consider selling or sellers developed from a postcard mailing campaign in your neighborhood of interest. These agents know many ways to find property that other agents will not show you. We find this service to be one of the best that we provide for our buyers so we wanted to make sure that you get the same service when you move.

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Week Eight: If you’re not quite ready to list your property, we have a system called “sell the sizzle before the steak.” I know it sounds a little corny, but we can discretely present that your home might be available to our database of buyers. This helps us to do a little pre-marketing prior to a full commitment of our complete marketing plan. If you are interested in this service, please don’t hesitate to give us a call.

Week Nine: Did you know that we have a policy where no real estate agent will be allowed to negotiate with you in person? We do this because many times real estate agents can be very forceful in the presentation of offers from their clients. We ask for that offer to be presented to us, and we will spend as much time as you need with just us - your representatives. This eliminates awkward meetings where you need more time to think, and the buyer’s agent is pushing for an answer. We believe that selling a home should not only be massively profitable but also fun. If you’d like more ideas on how we differ from the competition, email or call me at your convenience. All contacts will be kept confidential.

Well, I hope you get the idea that we’re trying to start a conversation with that potential seller instead of letting them fall through the cracks. A drip email campaign for a seller is similar to the campaign for buyers. It’s necessary for listing leads since the majority of information requests come via the web with incorrect or inoperable phone numbers. The only way to get these leads talking is to present them better value than everyone else.

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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