Tennessee 4-30-18

TENNESSEE EDITION

Are You a VALUE-ADDED AGENT? Developing Your PRICING PHILOSOPHY GOAL CONTRACTS (A Life Skill from the Old School) COVER STORY

Marabeth Poole

FEATURED AGENT

CINDY MILLER

3 Mental Tricks that Will TAKE YOUR BUSINESS TO THE NEXT LEVEL

TENNESSEE EDITION

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MARABETH POOLE

Marabeth Poole

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CINDY MILLER

CONTENTS

4) ARE YOU A VALUE-ADDED AGENT? 13) DEVELOPING YOUR PRICING PHILOSOPHY

18) GOAL CONTRACTS (A LIFE SKILL FROM THE OLD SCHOOL) 22) 3 MENTAL TRICKS THAT WILL TAKE YOUR BUSINESS TO THE NEXT LEVEL

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Are You a Value-Added Agent?

I’ll bet if I asked ten real estate agents, all ten would answer ‘yes’ to that question. Yet, when I ask agents how they are value-added, they say things like: • I communicate regularly with my clients.

• I have a written listing presentation.

• I am honest.

• I am trustworthy.

Are these ‘value-added’ attributes? Or, does the client expect these attributes and services?

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Are these exceptional services or average services? I’m writing this article at the beginning of a New Year. It’s a perfect time to re-assess your professionalism and master being that ‘value-added’ agent.

Client Expectations are Higher than Ever Unfortunately, too many real estate agents assume they are ‘value-added’ because they are providing the services they want to provide— Top Agent Magazine

the services they think the client values. However, there’s a real client out there, and the client has different expectations. How do I know that? Because so few agents regularly survey their clients. In fact, when I’m speaking to an audience, I survey them, and find that less than 25 percent gather after-sale surveys! So, the majority of agents don’t know if the services they are providing are average or exceptional.

Why Bother Being Exceptional?

• Because you want to set yourself apart.

• You want to create client loyalty.

• You want to create at least 50 percent of your business from client referrals (the latest National Association of Realtors survey Profile of Members found that the average Realtor got only 18 percent of their business from referrals. That’s a hard and expensive way to run a real estate business!

• Because you want to run a more pleasant, profitable business.

Four Actions Value-Added Agents Take How can you identify value-added agents? By their actions. Here are four actions I believe show agents that are above just ‘average’. The principle here is:

Watch the actions, not the words.

If I were a manager, or a seller or a buyer, and I wanted to find a value-added agent, here’s what I would look for: Top Agent Magazine

1. Has a database and populates it This agent is committed long-term to his clients and to his business. He uses a contact management program (CRM) to manage ‘leads’, so none are lost — and clients do not feel neglected. After all, it takes much longer today to convert a ‘lead’ to a sale than it used to take.

Actively using and maintaining a CRM means the agent is committed to forming long-term professional relationships over time.

Other demonstrable actions concerning the agent’s CRM are: • Has a rapid-response method to deal with Internet inquiries and other inquiries via email. (The average client expects a response within eight hours—but a recent survey showed the average agent responded in 50 hours!).

• Has a method to follow up on all leads until they ‘buy or die’. As a client, that means I won’t get lost. As a seller, it means my agent will follow up with all leads and give it 100 percent to sell my home.

2. Invests in the technology and follow-up pros have This agent makes every decision based on their vision of their career at least three to five years in the future. For example, instead of selling someone a house anywhere just to get a sale, my value-added agent sells only in an area they define as their ‘target area’. That way, they’ll get known, and can build on their reputation.

The value-added agent has the ‘guts’ to turn down business! Because they care more about the well-being of the client than getting one grimy commission check, they learn to 5

‘tell the truth attractively’, and work harder to retain the client than to make one commission.

Adding those Client Benefits to your Dialogue

3. Works for referrals, not just sales I said the agent learns to ‘tell the truth attractively’, even if the buyer or seller may not want to hear it. For example, if it’s in the best interests of the seller to list their home at a lower price, the value-added agent has the strategies and the statistics to prove that the seller won’t be well served by pricing higher.

Of course, it’s not enough to actually take these actions. You need to explain to the client why these actions are in their best interests, and how you stand apart from most agents by employing them. Why? Because your client won’t know you run your business so professionally.

And, the client probably doesn’t know most agents don’t run their businesses this way!

And, this value-added agent has the intestinal fortitude to walk away if they know the home will not sell at the client’s desired price (but doesn’t have to too many times because they create a stellar reputation amongst their clientele).

TIP: Always show your clients, don’t just tell them. You do have a Professional Portfolio and evidence on your website, don’t you?

4. Keeps the buyers and sellers’ best interests in mind Our value-added agent makes every decision to grow trust, not just to make a fast buck. For example, the agent sits down with a prospective couple and finds out they can’t purchase right away and creates a plan with them to save for their down payment. Then, the agent keeps in touch over a period of months, offering helpful information and market updates.

Put Yourself to the Test

How many of these actions P. S. Managers and team leaders—two tips do you exhibit?

What do you want to work on to become a true 1. Call each of your agents’‘value-added’ phone mails.

What’s the impre agent?

Are they professional? Do they state the company n TIP: represent your culture and image?

Managers, give your agents a 2. Create a quick class in phone messaging using the ‘test’ on these four points.

In other words, this agent practices seller or buyHow many pass? this blog. er agency representation, not ‘agent agency’!

Copyright ©, 2016 Carla Cros

Carla Cross,CRB, CRB, MA, is theoffounder andSeminars, president Carla Cross & Carla Cross, MA, President Carla Cross Inc.,ofand Carla real management and sales.

Herspecializing internationally s Crossestate Coaching, is an international speaker in realbest-selling estate management and Running business planning for all professionals. agents, Up and in 30 Days, is real nowestate going into its 5thHer edition sevenexperience internationallyas published books, including Up and Running in 30 Days , vast a top-selling agent and award-winning manage and 20 agent and management programs have helped thousands of real sales podium, blending her musical background with her proven estate professionals to the greater productivity and teaches profitability.someone Reach Carla strategies (she uses piano AND even to at play—f 425-392-6914 or www.carlacross.com. and practical). Find out more at www.carlacross.com.

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Marabeth Poole Top Agent Magazine

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Marabeth Poole

Putting down her roots here over 17 years ago, Nashville is the place Marabeth Poole calls home. After leaving her birthplace of Utah to be closer to the music scene as a singer and songwriter, Marabeth could never imagine living anywhere else. She quickly fell in love with the area and knows it very well. Perhaps, it’s just one of the many reasons she has found success in the world of real estate.

Although, Marabeth’s high energy personality along with her entrepreneurial spirit have certainly had a hand in her rise to the top of the industry. After building a small chain of Aveda salons from scratch with over 60 employees, 8 Copyright Top Agent Magazine

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Marabeth sold her business just three short years ago and decided to make a career out of her love of real estate.

“I’d always loved touring homes ever since I was a kid, and with all the professional contacts I already had in place, it was an easy transition for me,” says Marabeth.

Today, she represents 13 custom builders in the exclusive Kings’ Chapel community as an agent with Kings’ Chapel Realty. “I specialize in resale and new construction within the community, but I sell outside Kings’ Top Agent Magazine

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Chapel, too,” Marabeth says. “I’ve sold properties of all types and sizes, and work with buyers whose budgets range from five hundred thousand dollars to over four million dollars.”

truly love what I do. This isn’t just a job for me; it’s a lifestyle.”

It’s easy to see why Marabeth’s clients to put their trust in her when it comes to helping them fulfill their Serving all of Middle Tennessee, real estate goals. “I won’t allow my Marabeth takes pride in the fact clients to settle. I do my homework, that her business has grown steadily listen carefully to their needs and solely by word-of-mouth. “I get a wants and work hard to make it lot of referrals because I work really happen,” Marabeth says. hard to make every transaction as pleasurable and fun as possible. I’m It’s a philosophy that has paid off the type of person who brings a new for Marabeth and her colleagues approach to real estate, where maybe at Kings’ Chapel Realty, as they it’s been a little stale in the past. I were recently voted the number one 10 Copyright Top Agent Magazine

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development by Nashville House & Home Magazine. “It’s an honor for us to have received that award, but playing such a significant role in helping my client’s find the home of their dreams is what I love most Top Agent Magazine

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and Juianne Hough, professional ballroom dancers and stars of the hit television show, Dancing With the Stars. “I grew up in the entertainment industry and I’m very fortunate to

“I grew up in the entertainment industry and I’m very fortunate to have the support of my family in every aspect of my life.” have the support of my family in every aspect of my life,” Marabeth says.

In addition, she is actively supports The Charlie Foundation and several other charitable organizations. about my job. I love taking part in As for the future of her business, their excitement when they get the Marabeth looks forward to growing and expanding her share in the keys to their new home!”

Nashville market. “I want to be Marabeth is equally rewarded by known as everyone’s first choice the charitable work she takes part when it comes to all things real estate in, such as the Great Gatsby event and be the one people talk about and she hosted to benefit Make-A-Wish refer,” she says. “My clients know Middle Tennessee. The dinner and I’m their REALTOR® for life, not dance featured guest appearances by just for a single transaction. They Marabeth’s brother and sister, Derek can rely on me for anything!”

For more information about Marabeth Poole of Kings’ Chapel Realty, please visit www.kingschapellife.com, call 615.336.6636 or email marabeth@marabethmusic.com 12 Copyright Top Agent Magazine

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Developing Your Pricing Philosophy

By Dirk Zeller

Ask a dozen agents to explain their home pricing philosophy, and you’ll

hear a dozen different approaches. And if the talk reveals frank responses, you’ll also learn that the most common pricing strategy is no strategy at all.

Here’s my advice: Break out of the ranks by establishing and following a specific strategy for arriving at the ideal selling price for each home.

Adopt the philosophy that, in real estate sales, price is king. Price trumps all other factors—including marketing approaches, home condition, market competitiveness, and sales approach. I believe that, in the end, marketing and condition of the property are controlled by the price.

The alternative, advocated by many agents, most sellers, and even some sales trainers, is to emphasize marketing over pricing. Rather than working to set the ideal price, they believe success will come from optimizing the home’s condition and presentation and then marketing it with skill and savvy.

I take the opposite belief, based on years of experience working with sellers who wanted unrealistic prices for their homes and who experienced firsttime sales failures as a result.

Over my sales career, I resurrected and re-listed more than 600 expired listings—nearly 75 a year. Among all those transactions, I never met an owner with an expired listing who thought that an unreasonable price had anything to do with the home’s failure to sell. They all blamed the previous Top Agent Magazine Copyright Top Agent Magazine

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agent and that person’s approach to marketing. Each sought some magic marketing strategy to change the reality of the law of supply and demand.

There is a magic strategy: Price the home correctly.

Price is the only factor that can overcome sales obstacles, compensate for a home’s deficiencies, and motivate a purchaser even if the condition of the property and your marketing approach is less than perfect.

Getting the listing at any cost Does this scenario sound familiar? An agent (usually a newer agent) is short on business or maybe even desperate for the chance to stake a sign in someone’s yard. The agent wants a listing at any price – even if the chance 14

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to seal a deal erodes the likelihood of selling the property. To gain a seller’s nod of approval, the agent makes a flatteringly high pricing recommendation, throwing out a number the client wants to hear and then hoping something good will result from the bad situation.

I can think of few examples, if any, where this philosophy works. Hope isn’t a successful pricing strategy. Worse, the please-the-client mindset is a hard one to abandon. Agents who achieve listings with unrealistic prices find it hard to later counsel their clients honestly.

If you take and price a good listing competitively, it will sell. You can’t keep a good price a secret!

The pitfalls of a “please the buyer” approach are many and significant. By overpricing, you can practically count on a reduction in your productivity, profitability, and salability, and here’s why: It’s impossible to keep your productivity high when your time is spent in conversations with an unsuccessful seller who lacks motivation to take corrective action. The seller’s negativity, concerns, and phone calls will only increase with each week or month the house remains on the market.

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As time goes on, you’ll devote more and more time unsuccessfully trying to create a sale not only for your seller but also for yourself. This will pull you away from activities that are more likely to deliver income. The ensuing frustration will de-motivate you and stunt your ability to secure better appointments that create other income opportunities.

An unsold, overpriced listing negatively impacts your profitability because it costs you time and money to service while it delivers no revenue to your business. And the situation only gets worse the longer the listing languishes on the market. You’ll end up deducting the expenses of this in-limbo listing from the proceeds generated by any revenue-producing deals you manage to close in the meantime, reducing your net profit and business success.

Unsold homes that linger on the market seriously diminish your salability, which is the term that describes your sales success track. Your salability is based on such key statistics as your average ratio of listing price compared to sale price and the average number of days your listings are on the market.

Obviously, these statistics, which prospects rely on when choosing one agent over another, can be crushed by a “get the listings at any cost” philosophy. They’re also harmed by the “start high and reduce later” tactic.

If you take and price a good listing competitively, it will sell. You can’t keep a good price a secret!

Dirk Zeller is an Agent, an Investor, and the President and CEO of Real Estate Champions. Copyright© 2014, Dirk Zeller. All rights reserved.

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Goal Contracts

By Barry Eisen

(A Life Skill from the Old School) A few months ago I spoke at a real estate sales meeting in an office where I’ve spoken and taught seminars for many years. As soon as I was finished, an agent, who had transferred into this office about a year before, standing in the back of the room, graciously offered a glowing testimonial about my seminar he had taken ten years ago. He talked of a number meaningful changes for the better he had experienced in his life since that seminar. Then he took out 18

of his pocket a small number of 3 by 5 cards and held them up like he was holding the Holy Grail. Of all the internal and external techniques he was exposed to in the seminar, these cards (Goal Contracts) were his game changer.

I stopped guessing years ago, which ideas or systems I teach will be best or most appreciated. We all perceive ideas so differently. Generally, feedback I get in coaching sessions is Top Agent Magazine

that the biggest issue for most, who are not fulfilling their own personal promises, is lack of focus, not lack of ability or planning. There are lots of good ideas available to shake a person out of the Limbo they’ve created. Here’s one that has worked for many. If you like the idea, don’t just acknowledge it as a “nice idea.”

Do it for a month. Get past the initial new/awkward/judgmental stage. Then decide whether this is an idea worth continuing or not. Come from KNOWING, not second-guessing. 3. On the second line, answer the You have everything to gain and time question. What is the specific nothing to lose.

TARGET or DUE DATE for that goal to be accomplished? (A specific The Goal Contract date creates a sense of urgency.)

Get as many 3 X 5 cards for as many 4. On the third line of each card selected personal/business goals answer the HOW? question. This is the action step, where the rubber you’d like to accomplish. meets the road. How are you going 1. Create 4 horizontal lines across to get from where you are to where each card with a few spaces in you are going? Dig deeper than the lazy answer: “If I knew what to do between each.

I’d be doing it!” If you’ve crossed the street by yourself a few times You have everything to already, chances are you know what gain and nothing to lose. you need to do. Write this down in a few words on the third line.

2. On the top line of each card answer the question WHAT? What 5. On the bottom line of each card, is that card’s goal? Write that goal SIGN YOUR NAME. As simple and on the top line (e.g. Weigh 150 lbs., perhaps silly as this may seem, we $200,000, run a 42 minute 10K, etc). have been conditioned to live up to Top Agent Magazine

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responsibilities we sign for (mortgages, insurance, credit cards, cars, etc). Personal and business goals don’t generally fall into that category. A small action can have a huge impact. As you sign your name, feel the responsibility of your commitment.

6. Stick a small piece of double sided tape on the back of each card.

you feel self conscious), on your office and home office desk, etc.

Just the physical act of moving the cards, subconsciously reinforces what the cards represent. Since most of our attitudes and actions are subconsciously motivated, you will feel more immediately compelled to make the better, usually more productive decision.

This is a little idea that can play 7. Carry these cards with you big in getting you to another level. through the travels of your day. In Because it’s easy to do, it becomes your pocket or handbag, carry case, easy to NOT do. Do it, you’ll like it! on the dashboard of your car (not when you have others with you, if Copyright©, 2015 Barry Eisen. All

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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

CINDY MILLER With nearly two decades of experience under her belt, Top Agent and Associate Broker Cindy Miller of RE/MAX Excels in Loudon, Tennessee is a force to be reckoned with in the real estate world. Approaching each and every transaction with a wealth of knowledge and a true concern for the best interests of her many clients, she has firmly established herself as a highly trusted professional.

Cindy was working as a manager in an auto parts store before transitioning into real estate in 1989. “I’ve always been in sales,” she explains, “and at that time my son would be graduating from college in a year, and I decided that once I’d gotten him through school I would try something different, so I got my real estate license.”

Cindy hit the ground running, and has since built a stellar business that continues to grow exponentially each year. Her son, Zach – a graduate of East Tennessee State University - has joined forces with Cindy, and together the pair have excelled at providing top-notch service for their ever-expanding client base. “We listen to our clients with an open heart and an open mind, and to try and do exactly what they say, rather than what we want, so we can help them the very best we can,” she says. “Being younger and tech savvy, Zach is a huge asset to our business.”

Cindy, who sells primarily in Cooper Land Development’s Tellico Village, was formerly employed by that company for ten years in their West Virginia location, and also spent two years in Mexico working for Coldwell Banker Riveras, the number one brokerage in that country. “We primarily serve folks who are looking for a playground to retire to. I like to call it a summer camp for seniors,” she says with a laugh.

A large percentage of Cindy’s business is based on repeat and referrals clients, and Cindy believes she knows what accounts for this

exceptional level of client loyalty. “It’s about my attention to detail,” she says, “and the fact that I let them know that I absolutely listen to them. I always put their needs and their wants right at the forefront of what I’m doing for them. I treat every single client like they’re my most valuable client, because they are.”

Her clients deeply appreciate the services she provides, as evidenced by this glowing testimonial: “Cindy Miller is a great real estate agent; we highly recommend her. Using her knowledge of the market, she helped us price and advertise our Rarity Bay condo, which sold for the full asking price. She was very attentive, always answering our numerous phone calls and emails quickly. The out-of-state closing, which could have been very complicated, turned out to be a very smooth process, thanks to her willingness to do whatever it took to expedite things.”

Cindy’s staunch Christian faith is interwoven into her approach to real estate. “I have a huge faith in God, and I absolutely trust that every lead I get is one that He sent me. I just try my best to help them, and that helps me.” Cindy, who is an ordained minister, is also the author of the book The Treasure of the Tithe. “The book teaches people that you receive through giving,” she explains.

“The first thing you learn about receiving is to be a giver.”

While the financial rewards of her chosen profession are not inconsiderable, that’s not what motivates Cindy. “I love the challenge,” she enthuses. “That’s my high. When I’m challenged to sell a property. It never feels like work to me.”

Cindy’s future looks both bright and busy. She is currently in the manufacturing stage for a motivational toy, an action figure called “The EYECANMAN,” that will be used to help children affected by bullying. She also wants to produce a cartoon and a video game featuring this hero. In the meantime, Cindy and Zach are looking forward to a bright future with RE/MAX EXCELS, never sacrificing the top-notch service they provide to all their clients.

For more information about Cindy Miller call c:865-224-1696, o:865-408-1616 or email cmiller233@yahoo.com RE/MAX Excels, 200 Lakeside Plaza, Loudon, TN 37774 Top Agent Magazine

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3 Mental Tricks That Will Take Your Business to the Next Level It’s no secret that running a successful business requires careful planning and a tireless work ethic. Beyond those obvious ideals, it also takes the right mindset in order to capitalize on professional opportunity. In the world of real estate and mortgage lending, mental fortitude is a major component to reaching the next 22

level and achieving longevity in a sector that requires so much self-discipline. With that in mind, we’ve compiled a few key mental tricks you can employ to reinvigorate your working philosophy. Incorporate these techniques into your daily mindfulness routine and your business will surely benefit.

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Visualization helps you work efficiently and keep your cool.

This may sound like one of the oldest tricks in the book, but there’s a reason why Olympic athletes and those serving in first-responder positions use visualization as a time-honored mental technique. Not only does visualizing your daily tasks help you organize your mind, but it amps up your ability to focus on what’s important. Visualization also helps reduce stress in the moment, since you’ve already created a mental expectation of the task ahead. Whether you’re preparing for a negotiation or a pitch to new a client—visualization primes your brain and affords you an extra sense of control as you tackle your day.

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Distill concepts into their simplest terms for ultimate understanding.

As an agent or loan officer, you’re likely juggling numerous clients and commitments on any given day. That’s why it helps to distill your responsibilities in clear, definitive terms. Let’s say you have a meeting set with a client to outline a marketing approach for their property. You may understand the broad strokes, but beforehand, try verbalizing the exact takeaways you’d like to impart to your client.

This may seem obvious, but one of the best ways to clarify your communication and ensure your com-

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plete understanding of a subject is to explain it aloud in its simplest terms. This crystallizes your main point and can come in handy if you drift off-topic or need to double-down on your message.

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Accept that mistakes will be made.

While it’s natural to fear failure, sometimes the dread of making an error can overwhelm your ability to perform. As the saying goes: don’t let the fear of striking out keep you from playing the game.

If you accept in advance that set-backs will occur, challenges will come, and things won’t always go accordingly to plan—you’ll be less confounded when hurdles do arise. What matters is keeping an even keel as you sort through unexpected delays or mishaps. Accepting that mistakes will happen allows you to shift your focus towards a solution or contingency plan. In other words, don’t spend your energy trying to achieve perfection. Aim high and work hard, but be in touch with reality: upsets are bound to occur. Accept this and you’ll be ready when they do.

The path to lasting success is ongoing, and there are bound to be challenges along the way. It takes mental fortitude to make it to the top, so keep these tricks in mind as you continue to grow as a person and a professional. Seeing situations in a new light can make all the difference as you adapt, evolve, and take your business to the next level.

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