Maryland 12-18-17

MARYLAND EDITION

Killing Clients with KINDNESS AND VALUE

6 Things You Need to Do to BE A GREAT MENTOR

How to Make Your Commute PRODUCTIVE

Are Your Presentation Skills Costing You MONEY? COVER STORY

JENNIFER CHANEY

MARYLAND EDITION

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JENNIFER CHANEY

CONTENTS 4) 6 THINGS YOU NEED TO DO TO BE A GREAT MENTOR

18) ARE YOUR PRESENTATION SKILLS COSTING YOU MONEY?

13) KILLING CLIENTS WITH KINDNESS AND VALUE

22) HOW TO MAKE YOUR COMMUTE PRODUCTIVE

JENNIFER CHANEY

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6 Things You Need to Do to Be a Great Mentor

Everyone reaches the point in their career where they feel they have gained enough experience and wisdom about business and what it takes to succeed, to actually help someone else achieve the same. Although you may have trained or given advice over the years, taking on the official status as a mentor to someone is a whole new ball game.

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Although mentorship is an unpaid endeavor, you’ll be surprised to find out how much you’ll gain from the experience. You’ll also grow as a business person through the process of teaching someone else. It’s also an endeavor that many will pay forward one day, creating a business atmosphere that is based more on mutual success than competition, which is better for everyone.

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If you were mentored, you may already have an idea of what it entails, and what you liked or didn’t like in your mentor/mentee relationship. Although it is a personal relationship that will need an individual approach, there are certain things that are key when it comes to being a great mentor: 1. Be a good listener

est about your own failures. It can be a huge relief to find out someone they look up to has gone through similar experiences and still managed to come out on top. As we all know, oftentimes the greatest lessons come from failures, which can be times when our character is truly tested. Building trust through mutual respect and honesty will make every aspect of your mentorship more effective.

You’re basically a sounding board who needs to hear your mentee’s ideas, plans and goals in order to advise them. Strong, constant and clear communication is key to any successful mentoring relationship.

Sometimes just letting them talk things out with you, will lead to them to discovering the solution they were looking for.

2. Set expectations and goals at the start When listening to your mentee in your first meeting about the potential relationship, it’s important to establish the parameters of what that relationship will be: What can you give them? What do they need or expect from you? Once the terms are agreed upon, you may want to set specific goals you’ll be working on together so that there’s a defined plan of action, timeline and result you can both expect.

3. Be honest This is important when it comes to offering them constructive criticism or tough love, but more importantly, you need to be honTop Agent Magazine

4. Get them to think, don’t make decisions for them Sometimes being a mentor is being a bit like a psychologist. By asking certain ques-

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tions you can lead your mentee to their own conclusions about their business dilemmas and strategies to reach their goals. Being a mentor is all about guidance. Build confidence by drawing out the best in your mentee rather than just presenting them with solutions.

5. Look at the situation objectively One of the key strengths you offer your mentee is a complete emotional detachment to their business. You have no sentimental attachment to doing things a certain way or working with an incompetent vendor because you ‘go way back’. Your only motive is what’s best for your mentee and their business. Although emotions cans still get in the way sometimes, having a detached perspective on hand to guide you is invaluable.

6. Don’t just offer constructive criticism, be supportive Yes, being a mentor is sometimes advising your mentee that he’s doing something ineffectively, but your main purpose is to alway approach everything like cheerleader.

You need to let them know that through it 6

all, you are a reliable support to them and have a complete belief in their abilities.

Make sure to always praise their accomplishments.

Remember: your job as a mentor is more about guidance than constant feedback.

Your goal is to help someone become the best they can be, not someone who just does everything the way you do it. You’re helping them build confidence in their own intuition, which will hopefully lead to a lifetime of success, and one day, they too might be a valuable resource to another mentee down the road.

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JENNIFER CHANEY 7

JENNIFER CHANEY When looking to sell your home in Maryland’s lucrative Eastern Shore area, you won’t find a more in-demand agent than Jennifer Chaney.

Jennifer, who is also a certified stager with a 4,000 sq ft warehouse of high-end inventory, has built her reputation on the stunning transformations that she performs on the properties she lists, and has results that keep clients not only coming back to her, but recommending her to their friends and family, as well. 41% of Chaney Homes listings sell in single-digit days on market; with 60% selling in their 8Copyright Top Agent Magazine

first six weeks on market. They also have an average list-to-sale price percentage: 98.4%.

Truly impressive numbers, serving as a catalyst to achieve staggering sales growth- Over $100 Million in Individual Sales throughout her career- $82 Million of which closed in the last 4 years!

Chaney Homes now consists of five ‘hand-chosen’ agents, all of whom share Jennifer’s passion for providing exceptional customer service. Just four and a half years Top Agent Magazine

after starting her own brokerage, the company has already grown a remarkable 1140%.

Part of the reason for this is Jennifer’s unique vision of operating a truly ‘boutique-style’ real estate brokerage with a distinctive twist.

Jennifer brings a diverse background and experience to the table, that seems almost tailor made to creating a successful career in real estate. In addition to her design expertise, Jennifer has a degree in finance and an MBA in marketing, making her a triple threat. She also takes a personalized approach to sales, working with each client individually and considering all of their needs and goals when putting together her marketing plan. It comes as no surprise that with this approach, JenTop Agent Magazine

nifer is one of the most successful agents in Maryland.

Jennifer’s transformations have given a her a huge social media following, where people find inspiration in her remarkable before and after pics. This has been an enormous advantage when it comes to marketing her listings.

“We do a lot of social media marketing, and I take advantage of every technology innovation to make sure my homes are seen in the best possible light with all of their unique attributes highlighted. I try and target the most likely buyers when listing a property, so I can create a story that makes people engaged and want to come see the property in person.”

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Jennifer is actively involved in her community and supports local pet shelters, something that is particularly close to her heart; well as being a higher sponsor of a local anti-bullying campaign. She also supports the local athletic booster clubs, helping provide equipment to less fortunate high school athletes.

Additionally, for exceptionally deserving clients- Jennifer will pull from her warehouse to design a room in the home she sells them, helping them feel a bit more ‘at home’ from the start! When she isn’t working, she enjoys spending time with her husband and two Top Agent Magazine

young children, relaxing by the water or out on the boat.

Jennifer couldn’t be more thrilled with her company’s growth and success, and would like to continue to lead the local market with enviable innovation and commitment, which has set a new standard in the real estate industry. “I love growing my business, but my main priority is to always offer that white glove, one-on-one service that Chaney Homes has built their reputation on. I take a lot of pride in my business and the serCopyright Top Agent Magazine 11

vice we provide. I love what I do. I love that the homes I design have a distinctive look and people instantly know that it’s my listing. Branding the brokerage and constantly differentiating myself has let to amazing

results- it’s worked out so beautifully. I’ve identified a void in the marketplace, and created a niche brand that was missing. I offer a level of service that no one can touch, one satisfied client at at time.”

To learn more about

JENNIFER CHANEY call 410-739-0242, email Jchaney@chaneyhomes.com or visit chaneyhomes.com www.

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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: 14

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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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Are Your Presentation Skills Costing You Money?

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ometimes we’re so focused on technology and education that we forget this is a “people business”. And, a great deal of the money you make comes from your ‘point of contact’ skills. What do I mean by that? Lead generating dialogues and presentation dialogues. Yet, how much do we work on those verbal skills?

Unfortunately, communication sales skills have gotten short shrift in the last decade. Why? I think it’s because many of us are so challenged by technological changes. But, slow down. Think about how you actually make money. It’s at point of contact.

Getting better at point of contact skills translates into more money in less time.

We’re All Presenters Everyone in the real estate business presents: Agents present, when they are doing listing or buyer presentations. Managers present when they are recruiting, or doing their office meetings. Mortgage and title 18

By Carla Cross

When you’re doing a listing presentation, what do you want to happen? You want them to sign the listing agreement when you’re done. reps present when they are in front of a group of agents in an office, talking about their services. So, doesn’t it make sense to become ‘killer’ at those presentations? You’ll double your money and halve your time.

Bug Off: I Do Okay Just Like I Am Yeah. I know. As a musician, I’ve worked with literally hundreds of people who thought they ‘played good enough.’

Some people just get to a certain performance level and leave it there. Have you ever thought that, often, our presentation strategies (or lack of) work in spite of us, not because of us?

As a musician, I know the thrill of performing at high levels. So, open your mind and consider

stepping up to a higher presentation level. Not only will you have personal satisfaction, you’ll make more money!

Now, let’s tackle one set of presentation skills: Organizing that presentation effectively.

Having heard listing presentations that wander all around the world, I know the importance of effective presentation organization.

Three Steps to Organize Your Presentation to Knock Their Socks Off Most of the time, we just get in front of people and say whatever we think of first. That leads to some big presentation mistakes, and costs us ‘sales.’ Instead of stumbling through a presentation, why not organize it to Copyright Top Top Agent Agent Magazine

grab their attention, persuade them to your way of thinking, and motivate them to action?

You can. In my new resource, Knock Their Socks Off: Tips to Make Your Best Presentation Ever, I show a simple three-step format to create your persuasive presentation. No matter why you’re in front of people, we need to be persuasive Think about it. When you’re doing a listing presentation, what do you want to happen? You want them to sign the listing agreement when you’re done.

So, it’s extremely important that you organize your listing presentation using a persuasive format, not just an information-heavy dialogue flow.

Grab Their Attention in the Opening Have you thought about your opening? Or, are you nervously standing at the sellers’ door, worried about what you’re going to say? Are you hiding in your office because you dread doing that sales meeting? When we haven’t organized our presentation, we come up with some really boring, off-putting openings, like: I won’t take much of your time, but...

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We have a lot to cover today We won’t get through the outline I know you don’t want to listen, but...

I’m not really prepared

You just open your presentation book, point to the pretty pages, and say, “here’s a keybox” (I’m not kidding. I’ve seen it….)

Great openings, yes? Yet, we’ve heard them dozens of times. You don’t have to settle for whatever 19

If you’re doing a presentation to sellers, one of the major objectives of your presentation is to persuade them to your listing price point of view. comes ‘naturally.’ Instead, make your openings: Provocative Interesting Different Engaging I just attended a ‘Train the Trainer’ session (yes, I still learn great stuff every day!), where the trainer said it was important to engage the audience in a meaningful way in the first two minutes of your presentation. I think that’s a great rule to follow today, because people’s attention spans are the length of a gnat’s eyebrow. So, the next time you attend a presentation, see how much time elapses before the speaker/presenter/trainer gets the audience into meaningful action.

I don’t mean to ask a rhetorical question, either!

A Middle That Educates Your ‘Audience’ to Your Point of View In the middle of your pres20

entation, add those stories, statistics, and visuals that support your point of view. By the way, as you create that presentation, jot down your point of view. If you’re doing a presentation to sellers, one of the major objectives of your presentation is to persuade them to your listing price point of view.

Retention is Key

Why Use Visuals?

Three days later:

There are two reasons to use visuals in your presentation:

We retain 10% of the information when we hear it

We believe what we see

We retain 65% of the information when we hear and see it

We retain the information much longer As you organize your presentation, ask yourself:

Have you ever met with sellers or buyers, given them lots of information—and then had them question you about it a few days later—as if they never heard you—or heard you backwards? That’s because people don’t hear and retain very well.

Look at the statistics:

So, use visuals to prove your points, not to merely show pretty pictures of houses.

The Ending: What are the main, and fre- Back to the Beginning quently, unspoken objections my ‘audience’ will have? How do I educate them to show them the reasoning behind my point of view?

Have you thought about your wrap-up? Or, like many presenters, does your ending sound like this?

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Well, that’s all. What do you think?

pop tunes are constructed with this format:

We’re out of time. Thank you.

I hope you’ll list with me

theme—variation—theme

I don’t have time to close.

I couldn’t get to much of the material, but you can read it In fact, even the most professional presenters frequently have trouble with their endings.

One of the main reasons is that they run out of time. Another is that they haven’t thought the ending through.

How to Do a Stunning Ending Crafting an effecting ending is the second most important part of your presentation. (The first is the opening). To craft a great ending, Go back to your beginning opening theme Summarize the benefits of going ahead with you/take action Motivate your ‘audience’ to take action

A Great Presentation is Crafted Like a Pop Song As a musician, I know that all Top Agent Top Magazine Copyright Agent Magazine

This is known in the music business as the ABA format.

Think of your favorite pop tune: Hum the beginning.

Think of the end. They’re alike, right? It’s the middle— known as the ‘bridge’—that is the humdinger. It wanders all around. Your persuasive presentation should be crafted like that pop tune: A. A compelling start (think Billy Joel, Neil Diamond, etc.)

B. An interesting, developed middle, with stories, statistics A. Back to that theme, with a motivating ending Now, you’re all set to craft a great listing or buyer presentation, great recruiting meeting or sales meeting, or awesome product/service presentation to any audience.

Carla Cross, CRB, MA, President of Carla Cross & Co., is an international speaker, coach, and resource provider specializing in real estate management. A former master level CRB instructor, and National REALTOR® Educator winner, Carla was recently named one of the 50 most influential women in real estate. For a free document on standards to establish, email Carla at Carla@carlacross. com and ask for standards document.

Carla has written six internationally published books, and provides coaching programs for management, including her affordable inoffice coaching programs Up and Running in 30 Days and On Track to Success in 30 Days for Experienced Agents, which provide standards, focus, and accountability.

Reach Carla at 425-392-6914 or www.carla cross.com.

P. S. Practice!

Many more tips on presentations and presentation skills are in my new resource, Knock Their Socks Off: Tips to Make your Best Presentation Ever.

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How to Make Your Commute Productive The highest caliber business owners and entrepreneurs utilize every minute of their day.

Though this may be a lofty goal, there are certainly ways to make our daily routines more efficient and productive. Consider the morning and evening commute—time blocks that are accounted for every day. For some of us, daily commutes may mean a lengthy drive through gridlock traffic, or perhaps just a quick fifteen-minute crosstown excursion. However short or long your commute may be, there are ways to maximize this component of your daily routine and reap the rewards.

With that in mind, take a look at some ideas below to inject some energy and productivity into your daily commute.

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Listen to the latest industry-centric podcasts or audiobooks Whether you drive, bike, walk, or take public transportation, a commute is the perfect time to tune into an industry-oriented podcast or audiobook as a way of building your skills or getting into the zone for the day. Instead of letting your commute time be passive, you can process insights from leading industry professionals, or develop your skillset on a topic you haven’t yet made time for. Perhaps you’d like to develop your social media presence, or maybe you’d like to tap into the millennial homebuyer market—whatever the case may be, there is audio material out there suited to your interests. What’s more, podcasts are free and easy to incorporate on your smartphone or

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tablet, and there are ample audiobook subscription services out there that make regular listenership cost effective.

Create a mental to-do list to get a head-start on your day, or to prepare for tomorrow Getting your thoughts in order with a straightforward to-do list can help you dive in once you make it to your desk, or serve as a conclusive mental routine to end your work day.

If you drive to and from work and don’t have your hands free, don’t fret. Speaking your to-do list aloud can help you detangle your thoughts and tasks by vocalizing them. You can also try breaking down your to-do list by verbalizing the day’s goals, the week’s goals, and the month’s goals as a way of structuring priorities. If your commute is hands-free, you can incorporate a variety of apps that serve as custom-made todo lists that’ll organizationally map your duties for the day. In either case, use your commute window to identify and name the tasks ahead of you, and you’ll be able to hit the ground running when the time comes to perform.

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Tend to your personal commitments and planning A productive commute can boost your professional performance, but it can also serve your personal growth and out-of-the-office responsibilities, as well. Perhaps you can think out and plan your meals for the week so that you don’t come home burnt out and with nothing in mind for dinner. Maybe you check in with a relative or partner and catch up for a spare twenty minutes.

Not only does this eliminate a few items off of your personal to-do list, it can actually give you a more focused mind at the office. If your personal life is in good order, you’ll be able to devote your full attention to work tasks.

As the old saying goes, there are only so many hours in a day. If you added up all the minutes spent commuting around town, how many hours would amount? Though the trek to and from the office is an engrained part of professional life, it doesn’t have to be a drag. Account for those spare commute windows in productive ways, and in only a month you’ll have devoted a significant portion of your time to bettering yourself as a person and a professional.

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