Buyer agent bootcamp workbook by Madden Real Estate

CORCORAN CONSULTING & COACHING Welcome to the Corcoran Consulting & Coaching Buyer Agent BootCamp. We would like to thank you for making a commitment to the success of your business. Get ready for two days of intense education and lots of fun learning. You will go home with the tools you need to energize your business and reach your goals. The Buyer Agent BootCamp is packed with valuable information, ideas and solutions. Inside of this guide you will find:

W e l c o m e

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The Agenda for the two day Event Prospecting Night Agenda Day 1 Training Materials DISC Profile Information Day 2 Training Materials

Note pages are included for you to take down those ideas and solutions you want to review later tonight. Be sure to ask questions throughout the Buyer Agent BootCamp. The more questions you ask, the more solutions we will be able to provide for you. Once you have a chance to review your notes from the Buyer Agent BootCamp, be sure to email your coach your list of ideas, solutions and commitments you will implement right away. Your coach will work closely with you to make sure that a plan of action is executed. For those guests who do not have a coach be sure to email your ideas, solutions and commitments you want to implement to Info@CorcoranCoaching.com and it will be our pleasure to assist you with developing a plan of action. We are asking each of you to complete and turn in the Commitment Form before you leave our Training Center. Remember, your goals and dreams are why you are in real estate. By taking ownership of your business and being held accountable, you will get the results you are looking for. Once again, thank you for participating in this exciting event. We are looking forward to helping you grow your business. We are honored to be a part of your success. Sincerely, The Corcoran Consulting & Coaching Team “Our Systems Are Your Solution”

CORCORAN CONSULTING & COACHING Number1Expert Chris Paley 800-762-2836 Sales@NUMBER1EXPERT.com

M e e t

5510 Morehouse Dr Suite 100 San Diego, CA 91212 www.NUMBER1EXPERT.com

Home Warranty of America David Sobel Vice President of Sales 888-492-7359 Ext 740 David@HWAHomeWarranty.com

PO Box 850 Lincolnshire IL 60069 www.HWAHomeWarranty.com

Y o u r

Proquest Technologies Gary Elwood President and CEO 800-959-3959 Sales@Proquest-Tech.com

9 Emerald Terrace Swansea, IL 62226 www.RealEstateGrowth.com

My OutDesk Jason Ramsey Owner 800-583-9950 JRamsey@HLRUSA.com

257 3rd Avenue Chula Vista, CA 91910 www.TigerLead.com

S p o n s o r s

BoomTownROI Grier Allen President 800-343-1974 Info@BoomTownROI.com

635 Rutledge Ave Charleston, SC 29403 www.BoomTownROI.com

Radio & Television Experts Matt Wagner President/ CEO 580-512-0351 MW@RadioAndTelevisionExperts.com

1146 NW Cache Rd Lawton, OK 73505 www.RealtorsOnRadio.com

REDominance Michael Russer 805-882-1170 MRusser@Russer.com

Bob Corcoran 800-957-8353 Info@CorcoranCoaching.com

Brad Carroll 888-325-6610 Brad@Dakno.com

CORCORAN CONSULTING & COACHING Introduction Acknowledgements The Knot’s Prayer Attitude for Success! Movie - Paper Airplane Movie - Becoming #1

D a y

DISC Profiles Dress For Success! Agent Binder Overview Lead Management

◦ A, B, and C Lead Follow up Process The Servant’s Heart Movie - Johnny The Bagger

A g e n d a

Lunch - 1 hour Scripts to Dialogues Answer/ Ask, Acknowledge/ Ask What is a Script to Dialogues? Structure of A Call Hotline Scripts Most Common Objections and Responses F.O.R.D. Technique Role Playing

Dinner - 1 hour

Prospecting Night!! 4

CORCORAN CONSULTING & COACHING Recap Day 1 The Extra Effort! Movie - 212° Movie - Becoming #1

D a y

Open Houses It’s Show Time! ◦ Buyer Urgency ◦ Buyer Presentation

Time Management ◦ Ideal Weekly Schedule

A g e n d a

◦ Daily Activity Record ◦ Tele-pro ◦ Understanding Your Prospecting Totals ◦ 30 Days to Success

Lunch - 1 hour Goals – Let’s get on the track to success!! Any Outstanding Questions/ Challenges? Survey

D I S C

6 Supporter

SEEKS: Acceptance

Socializer – Interact WHO Wants to: have fun, talk about themselves When Talking To: Add humor; don’t labor on details

SEEKS: Recognition, fun FEARS: Loss of prestige

Director

WHAT

Wants to: make money, save time, be more efficient

When Talking To: Be short and to the point – closed questions

SEEKS: Productivity, bottom line

FEARS: Being taken advantage of

FEARS: Sudden change

When Talking To: Ask for their opinion & feelings – open-ended questions

Wants to: have security, safety, sense of belonging

WHY

DISC INFORMATION

FEARS: Criticism of work

Accuracy

SEEKS:

When Talking To: Give facts, documentation, data, printouts

Wants: practicality, logic, fairness, systematic approach

HOW

Thinker

CORCORAN CONSULTING & COACHING

CORCORAN CONSULTING & COACHING Highlighting Your Preferred Style My personal behavior is...

_ Demanding _ Determined _ Driving _ Ambitious _ Pioneering _ Strong-willed

My personal behavior is... _ Competitive _ Decisive _ Responsible _ Skeptical _ Logical _ Independent

_Sociable _Optimistic _Mobile _Polished _Enthusiastic _Persuasive

_ Warm _ Poised _ Trusting _ Popular _ Verbal _ Independent

I am motivated by...

_ New challenges and problems to solve _ Power and authority to take risks and make decisions _ Freedom from routine and mundane tasks _ Changing environments in which to work and play

_ Flattery, praise, popularity and acceptance _ A friendly environment _ Freedom from many rules and regulations _ Other people available to handle details

My ideal environment should include...

_ Innovative focus on the future _ Non-routine, challenging tasks & activities _ Projects that produce tangible results _ Freedom from controls, supervision and details _ Personal evaluation based on my results, not my methods

_ Practical procedures _ Few conflicts & arguments _ Freedom from controls and details _ A forum to express ideas _ Group activities in professional and social environments

My personal behavior is...

_ Conservative _ Loyal _ Cooperative _ Relaxed _ Resistant to change _ Reflective _ Systematic

D I S C

My personal behavior is... _ Passive _ Patient _ Possessive _ Predictable _ Consistent _ Steady _ Deliberate

_ Conservative _ Calculating _ Low-keyed _ Stable _ Dependent _ Cautious

_ Traditional _ Neat _ Systematic _ Accurate _ Tactful _ Diplomatic

I am motivated by...

_ Recognition for loyalty and dependability _ Safety and security _ No sudden changes in procedure or lifestyle _ Activities I can start and finish

_ Standards of high quality _ Limited social interactive _ Detailed tasks _ Logical organization of information

My ideal environment should includeâ&#x20AC;Ś

My ideal environment should include...

_ Practical procedures and systems _ Stability and predictability _ Tasks that can be completed one at a time _ Few conflicts and arguments _ A team atmosphere

_ Tasks & projects that can be followed through to completion _ Specialized or technical tasks _ Practical work procedures and routines _ Few conflicts and arguments _ Instructions and reassurance that I am doing what is expected of me

CORCORAN CONSULTING & COACHING Dress for Success – Inside and Out! The way you dress – Your Outward Appearance

D r e s s F o r S u c c e s s

Your appearance plays a vital role in your success. How you dress sends a message to clients and team members. Your attention to detail in making sure you are professional in both your dress and attitude can determine not only your financial results but also your reputation in the community. Clothing plays a huge role in your career so you should always pay attention to your wardrobe. Dressing for Success is largely a mind game. Dressing and grooming appropriately helps you to maintain a more professional approach to your business and clients. It can help maintain or actually improve work quality. When selecting your wardrobe be sure to add pieces made of high quality that will match what you already have. Buy separates that can be mixed and matched. Dressing is not everything but it will definitely add up to the overall impression that you will make on your clients. Creating and maintaining a professional image for your business is important. The way you dress for the office can say as much about your business as the quality of the work you do. So remember to always dress right. A great way to add quality pieces is to shop your upper end consignment shops as well as EBay. You will be able to find high quality pieces at an excellent price. Attitude starts at home, so remember, this includes working from your home office. The idea is to make sure you are not sitting at your computer in your bathrobe when lunch time rolls around. Here’s a good guideline: Assume you have no meetings planned for the day, so you dress down. A call comes in from a client who wants to meet with you “as soon as possible.” How long would it take you to get ready for the meeting from the time you hang up the phone to the time you leave your home office? If the answer is more than 30 minutes, which includes putting the dog out and letting the cat in, you should probably review your dress code. Another test is walking to the mailbox in what you’re wearing. What are the chances you might be arrested or lower your neighbors’ property value? Here are 20 steps for both men and women for dressing for success. 1. If you’re planning on buying new clothes, get good advice from the sales person. 2. Have the clothes altered to fit and accent your features. 3. If you are not planning on buying new clothes, select an outfit that you have worn before and are comfortable wearing. 4. Your hair should be neat and clean. 5. Do not wear a strong perfume or cologne, scent must be low key or absent. 6. Cover any tattoos, limit jewelry and have no visible body piercings beyond conservative ear piercings for women. 7. Have well brushed teeth and fresh breath. 8. Be sure to have no gum, candy, or other objects in your mouth when meeting with clients.

CORCORAN CONSULTING & COACHING For Men  Wear a suit or sports jacket that is color coordinated with your trousers when meeting with clients.  Wear a nice polo shirt or button up shirt when in the office or home office.  If you choose to wear a tie, be sure it is conservative and low key. Avoid ties with flashy patterns.  Keep your sneakers and flip flops away! A clean, polished black leather shoe is highly recommended.  Don’t forget to trim and clean your nails.  White socks are a definite NO! Use dark socks.  If wearing a suit or sports jacket, make it dark and your shirts light. For Women  Wear a classic suit or simple dress paired with a jacket when meeting with clients.  Don’t be too provocative or sexy.  Trim your fingernails and use a polish that complements your clothes and would not distract the client. A French manicure is always a safe way to go.  Choose a moderate shoe which is clean and with heels that make you comfortable. No flip flops.  Use a tan or light hosiery. Finally, check your attire in the rest room before meeting with clients for a final check of your appearance - to make sure your tie is straight; your hair is combed, etc.

D r e s s F o r

Empowering Language – Your “Inside Appearance” The way you speak effects how you feel and how people perceive you. If you are positive and up beat, you will be seen as a positive person, someone that people want to be around. If you are negative and only have negative things to say, people will most likely avoid your company. Empowering language is used to support transformation in reality through the power of language. Words combined with sound (voice) are energy vibrations that affect the body’s energy centers and have the inherent capacity to give (energy) or to take it away. Words convey underlying messages to our energy centers, creating physical, emotional, mental & spiritual responses in others and ourselves. Given today’s market conditions, this topic should be your highest priority. It will make you different than most agents. You will focus on the positive and the solution. Not the problem Empowering words should be delivered with vocal variety, intonations.  Prepare…not always what you say; but how you say it.  Rehearse…tape your voice.  Remember in many languages the only difference between asking a question and making a statement is in the intonation.  Posture is important.  Mirror, Mirror.  2/3 of Communication is Non Verbal… look at body language, facial expressions, smiles (natural, never forced).

S u c c e s s

CORCORAN CONSULTING & COACHING NOTES

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CORCORAN CONSULTING & COACHING NOTES

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CORCORAN CONSULTING & COACHING L e a d

Every Buyer is important. Whether they are an “A”, “B”, or “C”. They all need attention and follow up or potential sales are lost. The key to success with each Buyer is ensuring you are asking the right questions and maintaining consistent contact based on their type.

M a n a g e m e n t

Each type of Buyer is given a different amount of attention. Remembering that each type of client should feel confident that you are giving them your 100%.

P r o c e s s

These clients are ready to buy immediately. The following questions have been asked in order to establish that they are ready to buy immediately.

There are 3 types of Buyers: 1. “A” Buyers – These Buyers are ready to buy a home immediately. 2. “B” Buyers – These Buyers will be ready to buy in 30 – 90 days. 3. “C” Buyers – These Buyers will be ready to buy in 90+ days.

From the first contact with a client it is essential to gain as much information about the client and their needs as possible. This will let you know whether they are an “A”, “B”, or “C” Buyer. Let’s not forget the other important piece of any lead management process, and that is your Sphere of Influence. By keeping in contact with your Sphere on a monthly basis you will continually touch the folks who will provide you with referrals…and we all love referrals, right? These referrals will keep your pipeline full of new clients, “A’s”, “B’s”, and “C’s”. We have outlined a simple plan to make sure you are in touch with all of your Buyers and your sphere each month: 1. “B” Buyers will be called the weeks of the 1st and 15th each month. 2. “C” Buyers will be called the week of the 8th each month. Your Sphere will be called the week of the 22nd each month. This will ensure you are consistently filling your pipeline with new people, and keep people moving along in the pipeline from initial call to the closing table.

“A” BUYERS

If we found the right home for you, are you prepared to purchase that home today? Have you been pre-approved for a mortgage? If yes, great. If no, then review the process. It may be that the client is a first time homebuyer and is not aware that this is one of the first steps in the process. Don’t dismiss them as an “A” Buyer. Guide them, and follow-up during the pre-approval process. When asked, many clients will not give you an exact timeline for when they want to have their house bought. They may respond, “We will buy whenever we find the right house”. That’s OK. As long as you have already established that, if you found them the right home, they would buy it today, they are an “A” Buyer.

CORCORAN CONSULTING & COACHING - Frequent contact with “A” Buyers is essential. - Three to four times a week you should be calling, meeting or doing showings with them. - You should always have a scheduled appointment with the Buyer to look at homes. If no new homes come to the market for you to show the Buyer, call them and let them know that nothing has come on the market. This may be a good time to have the Buyer come into the office to review their criteria.

L e a d

- It is up to YOU to create this consistent and urgent communication. - It is your responsibility to successfully guide the Buyer through the process. If you leave it up to the client to contact you whenever they see something they like, opportunities may be lost for both. And the Buyer will be calling the Agent that has the house listed.

“A”-Buyer Action Plan Meet with the Buyer(s) - Go over the Buying Process. - Review their Criteria. - Have a maximum of 15 listings to give to the Buyers for Drive By’s if under Exclusive Buyer Agency Agreement. - Set a date to show the listings that they would like to view. - Let them know to call you with the MLS numbers and addresses of the listings they liked from their drive-by. Establish a date for this call, should be within 48 hours of giving the Buyer the MLS sheets. You must create a sense of urgency to the Buyer. - Begin test closing them from the time you say hello. During/After the Showing - Have the client meet you at the office and ride to each listing in your vehicle. - Make notes of what they like and dislike about the properties. This will allow you to narrow their criteria. Future showings will be of homes that are closer to their needs. - At the end of the showing, have a short meeting with the client in the office. If you have more listings for them to drive-by, give these to the client at this time. Establish the next date for calls and showings as outlined above. Also do a short review of their likes and dislikes from the showings that were done. - When calling them after their second set of drive-by’s, find out if they would like to again see any of the houses from the last showings. After thinking about it, they may have decided that they actually liked one of the homes.

M a n a g e m e n t P r o c e s s

CORCORAN CONSULTING & COACHING L e a d M a n a g e m e n t P r o c e s s

Follow Up - After the initial set of showings, the number of listings that fall within the client’s criteria may be less. Depending on their criteria, it may be approximately 1 to 5 listings per week. - At this point you should be able to set up most showings for these properties with the client without drive-by’s. If there are listings that you are unsure may meet the client’s needs based on the location or exterior of the home, bring these listings with you to the showing or have the client pick them up at the office. - Always ensure that at the end of each appointment, you have already scheduled the next meeting or showing. - If there is nothing to show the client, call them and to find out if they would like to re-view any of the listings they have already seen. If not, reschedule the meeting or have them come into the office to review their criteria.

“B” BUYERS These Buyers will be ready to purchase a home in 30 – 90 days. Regular communication with these Buyers is essential since in the next 30 – 90 days they will potentially be “A” Buyers. How do you know the client is a “B” Buyer? Simply, you have asked the right questions. Such as: If we found the right home for you, are you prepared to purchase that home today? No. OK, when would you be prepared to purchase a home if the perfect home was found for you? Their answer should have them ready to purchase within the next 30 – 90 days.

“B” Buyers Action Plan You will communicate with B Buyers every 2 weeks on the 1 st & 15th of each month (you’ll make these calls during these weeks each month). These calls will be to stay in touch, review general information and ask questions. Some of this information and questions will be: Hi, I just wanted to give you a courtesy call to see how you are doing. Informing them of any changes in interest rates. Informing them of any changes in the housing market. Finding out if they are any closer to becoming A Buyers. Generally you will not be giving them any listings until they become “A” Buyers unless you are entering them into your MLS Buyer Prospects section or a Buyer Follow up program. Make the client aware of the fact that listings can change frequently and until they are ready, the listings that are available now, may not be available when they are ready to purchase. However, the client may ask you to give them listings anyway to give them an idea of what is out there and, just because they want them. That’s OK. This may be a “B” Buyer who is actually closer to being an “A” Buyer.

CORCORAN CONSULTING & COACHING What to do? - Establish their criteria for a new home. - Find out if they have been pre-approved for a mortgage. If yes, great. If no, then review the process. It may be that the client is a first time homebuyer and is not aware that this is one of the first steps in the process. Guide them, and follow-up during the pre-approval process. This is a necessary step in finding them the right home. - If you are utilizing a Buyer Follow up program, enter the Buyer into the program along with their criteria and assign them the appropriate category. (keep the criteria as broad as possible) - If you are not utilizing an automated Buyer Follow up program, enter them into your contact manager and launch the “B” Buyer Follow Up Plan. - If using Buyer Follow up program, find out if they would like to view any of the listings that you have sent them previously and if the homes meet their criteria. Are these clients ready to purchase today? Remember to ask them questions so you will know if they are now “A” Buyers. If not using a Buyer Follow up program, you are “just touching base”. Keep your NOTES on your buyer lead sheet. Log every call and time of call. Once you have established that the client is now an “A” Buyer, then you will follow the “A” Buyer process as outlined previously.

“C” BUYERS These Buyers will be ready to purchase a home in 90+ days. It is important to maintain monthly communication with these clients so they can develop a consistent relationship with you. When you make these calls during the week of the 8th each month it will allow you to easily keep in touch with them. This will help to recognize when they are ready to become “B” Buyers or even “A” Buyers. In these monthly calls you will be staying in touch and asking questions or giving them information such as:

L e a d M a n a g e m e n t

Hi, I just wanted to give you a courtesy call to see how you are doing. Informing them of any changes in interest rates. Informing them of any changes in the housing market. Finding out if they are any closer to being “B” or “A” Buyers.

“C” Buyers Action Plan Generally you will not be giving them any listings until they become “A” Buyers unless you are entering them into your MLS Buyer Prospects section or a Buyer Follow up program. Make the client aware of the fact that listings can change frequently and until they are ready, the listings that are available now, may not be available when they are ready to purchase. However, the client may ask you to give them listings anyway to give them an idea of what is out there and, just because they want them. That’s OK. This may be a “C” Buyer who is actually closer to being a “B” or “A” Buyer.

P r o c e s s

CORCORAN CONSULTING & COACHING L e a d M a n a g e m e n t

What to do? - Establish their criteria for a new home. - Find out if they have been pre-approved for a mortgage. If yes, great. If no, then review the process. It may be that the client is a first time homebuyer and is not aware that this is one of the first steps in the process. Guide them and follow-up during the pre-approval process. This is a necessary step in finding them the right home. - If you are utilizing a Buyer Follow up program, enter the Buyer into the program along with their criteria and assign them the appropriate category. (keep the criteria as broad as possible) - If you are not utilizing an automated Buyer Follow up program, enter them into your contact manager and launch the “C” Buyer Follow Up Plan. - If using Buyer Follow up program, find out if they would like to view any of the listings that you have sent them previously and if the homes meet their criteria. Are these clients ready to purchase today? Remember to ask them questions so you will know if they are now A Buyers. If not using a Buyer Follow up program, you are “just touching base”. - - - Keep your NOTES on your buyer lead sheet. Log every call and time of call. Once you have established that the client is now an “A” or “B” Buyer, then you will follow the “A” or “B” Buyer process as outlined previously.

If it is to be, it is up to me, If it is up to me, it is to be, so be it.

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CORCORAN CONSULTING & COACHING Sphere of Influence Your Sphere of Influence will include your friends, family, business associates and your past clients of course. This is the group of people who are going to provide you with countless referrals…all you need to do is simply ask for them! The people who know and trust you will be glad to talk with you, and they will give you referrals if they know the kind of referrals you want. Take the time to educate your Sphere about who and what you want for referrals. Tell them about how you will treat that referral and about how you will thank them for making the referral. Make it easy and comfortable for them to help you be successful. When speaking with people from your sphere, you will want to use the F.O.R.D.

L e a d M a n a g e m e n t

FAMILY – OCCUPATION – RECREATION – DREAMS F. stands for FAMILY How are you doing? How is your family doing? How is (spouse)? How are your kids?

O. stands for OCCUPATION How is your job going? How is your business doing? Are you looking forward to retirement? How long since you changed companies?

R. stands for RECREATION What have you been doing lately? So, are you still (riding bikes, sailing, racing cars, etc)? By the way, how was your trip to __________? Just out of curiosity, what are you doing to enjoy yourself?

D. stands for DREAMS So, what are your plans for the future? Just out of curiosity, have you made any vacation plans yet? So, what are your plans for the holidays? So, what will you be doing with your time now that you have retired?

Sphere of Influence Action Plan The key to “touching” your Sphere is to do it consistently. We recommend making these calls during the week of the 22nd each month. Focus on the F.O.R.D. technique, and just have a conversation with the people in your sphere. Have plenty of lead sheets handy, so when they give you a referral, you can start a lead sheet with the referrals name and contact information on it, remember to NOTE where the lead came from and say thank you in a way that will ensure they continue to provide you with more!

P r o c e s s

CORCORAN CONSULTING & COACHING L e a d M a n a g e m e n t P r o c e s s 18

CORCORAN CONSULTING & COACHING L e a d M a n a g e m e n t P r o c e s s 19

CORCORAN CONSULTING & COACHING NOTES

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CORCORAN CONSULTING & COACHING NOTES

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CORCORAN CONSULTING & COACHING S c r i p t s T o D i a l o g u e s

CORCORAN CONSULTING & COACHING Make sure that you are tracking your prospecting using your Daily Activity Sheet and total it up at 8:20 Pump Up The Volume!! 

Get Excitement To A Fever Pitch!! Talk the business of real estate and sustaining your business for a lifetime.

Role Play – This is the warm up! 

Practice the Structure of A Call. Memorize, Internalize & Verbalize!! Focus on getting your leads to YES!!  Practice the scripts you are going to be using in the first part of prospecting.

Prospecting - Let’s Make Money!  

Call your “A” Buyers and Sellers that you DO NOT have a set appointment. Call your “B” and “C” buyers and sellers that you have in your drip systems to touch them.

Prospecting- Let’s Make Money!  

Call your Internet leads with phone numbers. If applicable, call your Real Estate Hotline leads that you have NOT gotten in touch with yet.

Finish up the call you are on, short break Wrap-up 

Go around the room and find out how many Dials, Contacts, Buyer Appointments, Listing Appointments, and Future Follow Up that each person got.  Calculate the Sales potential of the appointments set and calculate the GCI.  Discuss situations that you encountered and how did you handle anything unusual.  What did we learn? How did we grow professionally?

P r o s p e c t i n g N i g h t A g e n d a

CORCORAN CONSULTING & COACHING W e l c o m e T o D a y 2

CORCORAN CONSULTING & COACHING NOTES

R e c a p D a y 1

CORCORAN CONSULTING & COACHING O p e n

Preparing for an Effective Open House Items TO-DO PRIOR to Open House: Determine if there is to be a raffle & what prizes will be

Items to Bring to Every Open House: Open House Signs Sign riders

H o u s e

Schedule of open house dates Directional Agents to work open houses Sign in Sheets Prepare Additional Feature Sheets Prepare 3 Ring Binder with additional listings in the area

Raffle prizes Light Snacks Get signs out

Prepare Market Watch Flyers

C h e c k l i s t

Invites for the neighbors Pens Items TO-DO AFTER Open House:

Business Cards Buyer Guides

Take down directional signs & sign riders

Sellers Guides

Pull Raffle Winner

Additional Feature Sheets

Write Thank You notes to those prospects who visited

3 Ring Binder with additional listings in the area

Mail Thank You notes

Market Watch Flyers

Call prospects who visited open house

Do you need a door key?

CORCORAN CONSULTING & COACHING

B u y e r P r e s e n t a t i o n

CORCORAN CONSULTING & COACHING NOTES

M y N o t e s

CORCORAN CONSULTING & COACHING NOTES

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CORCORAN CONSULTING & COACHING How to Create Buyer Urgency "You may delay, but time will not." - Ben Franklin Old Ben was a smart fellow. The gist is we can choose to do whatever we want, but one thing is for absolute certain: time marches on.

B u y e r U r g e n c y

Apply his quote in your real estate business, and you’ve got either a recipe for grand success or miserable failure. The result depends entirely on you and how you opt to use your time. But as you well know, in real estate we have to take this a step further. Sometimes you get buyers who, well, for lack of a better phrase, are not fleet of foot. And we know what that means for us – as the minutes tick by, we lose money. So how do you create urgency in buyers? Here are five ways to add some speed to those slow-moving buyers. 1. The buyer presentation. We’re all very familiar with listing presentations for sellers and in this market, anyone can get listings. So I give my clients a buyer’s guide and they use it to create their own customized buyer’s presentation. It usually lasts between 30 and 45 minutes – just like a listing presentation, but scripted specifically to buyers – and it works great.

2. Mortgage approved. Only work with buyers who are approved for a mortgage. Doing otherwise is a waste of time. You have to be selective. And for those who are approved, that tells you they’re serious. What’s more, with the mortgage industry the way it is today, there are changes almost daily, so those who are approved today may not be approved tomorrow. Explain that to the buyers and they’ll feel the heat.

3. Market mechanics. Related to number two, the real estate market, too, is seeing some jitters. First knowing and understanding today’s market is vital. When you do, you can explain to buyers just how important price is. Homes priced right are selling, many very quickly. Social scientists who’ve studied buyer behavior tell us that consumers are usually more afraid of losing out on a good deal than anything else. So focus on the cost of waiting. Remember this and you’ll do just fine with your sluggish buyers.

CORCORAN CONSULTING & COACHING 4. The right questions. Learn exactly what’s motivating buyers to be looking for homes in the first place. And don’t accept their first reply as gospel. Keep asking questions. Even ask the same key question (why are you looking to buy) phrased a little differently later in a conversation and see what pops up. The more you know about buyers, and specifically why they want to buy, the better you’ll be at meeting their needs. For example, if they’re renters, you’ll want to focus on building equity soon, instead of making their landlord rich. Talk about all the advantages of homeownership. And if they’re moving from their first home to a larger second home, explain market factors – they don’t call it a buyer’s market for nothing!

5. Problem solving. When people have a problem, they want it solved. So when buyers begin explaining the answers to the questions you posed from number four above, think of their answers in terms of problems. Take the renters for example. Each month, money goes out the door they’ll never see again. But with a home, they will see it again when they sell. Turn your work with buyers into a problem-solution format, and you’ll up the urgency quotient – the need to scratch the itch, if you will. Commit now to start creating urgency in your buyers to increase your sales, maximize your time and become the agent you were meant to be. You can do it!

B u y e r U r g e n c y

Plan Your Work and Work Your Plan!

32 Calls/Follow Up Prospecting Office Work Appointments Appointments Lunch/Dinner Office Work Office Work Calls/Follow Up Calls/Follow Up

Appointments Office Work Calls/Follow Up

Calls/Follow Up Prospecting Prospecting Office Work Office Work Office Work Lunch/Dinner Lunch/Dinner Office Work Office Work Calls/Follow Up Calls/Follow Up Appointments Appointments Appointments Appointments Office Work Calls/Follow Up

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CORCORAN CONSULTING & COACHING

CORCORAN CONSULTING & COACHING T i m e M a n a g e m e n t

CORCORAN CONSULTING & COACHING

Team Prospecting Totals for 2002 -2011

T E L E P R O

How Do Your Prospecting Total$ Compare? & How You Can Improve Your Prospecting Total$! Tele-pro Log in Instructions Go to www.CorcoranCoaching.com Click on “Client Log in” at the bottom left hand corner of the web page Your Tele-pro Log in is: Your E-mail Address Your Password is: Your First Name

CORCORAN CONSULTING & COACHING N a t i o n a l

Below are the Nationwide Team totals for Prospecting How Do You Compare? This summary is comprised of all types of telephone prospecting: just listed, just sold, invitation to open house, 800 Hotlines, info lines, expireds, canceled, sphere of influence, cold calling etc. Please pay close attention to the areas with the Green arrows. Finally, see the attachment to see how to improve your Teamâ&#x20AC;&#x2122;s prospecting totals. 2002 - 2011 TEAM PROSPECTING COMBINED TOTALS Minutes Called:

Number of Follow-ups:

68,510

Number of Sales:

21,544

4,413,053 Number of Dials:

P r o s p e c t i n g

1,107,082 Number of Contacts:

348,067

Number of Buyer Appts Set:

40,653

Number of Listings Referred:

7,254

Time Summary Minutes per Dial: Minutes per Contact:

Dollar Amount of Sales: $4,197,866,432.00 Commission Earned:

$119,407,848.00

Dial Summary 3.99 12.68

Dials per Contact: Dials per Appointment:

3.18 27.23

Minutes per Buyer Appts Set:

108.55

Dials per Listings Referred:

152.62

Minutes per Listings Referred:

608.36

Dials per Future Follow-up:

16.16

Minutes per Future Follow-up:

64.41

Dials per Sale:

51.39

Minutes per Sale:

204.84

Commission Summary Commission per Minute:

Contact Summary Contacts per Appointment:

8.56

Contacts per Listings Referred:

47.98

Contacts per Future Follow-up:

5.08

Contacts per Number of Sales:

16.16

$27.06

Commission per Dial:

$107.86

Commission per Contact:

$343.06

Commission per Appointment: Commission per Hour:

T o t a l s

$2,937.25 $1,623.47

Appointment Summary Appointments Set per Sale:

1.89

CORCORAN CONSULTING & COACHING U n d e r s t a n d i n g

Why Should I Track My Numbers? Do you keep a check register of your expenses? Do you track your investments? Do you report your sales figures to somebody? Do you check out the weather for the next day? Do you track the things that make you money? Of course you do! That is what Tele-Pro is all about, tracking something that makes you money so you can be more productive. By tracking your numbers we would be able to accomplish the same results mentioned here:

Lesson 1: Shelley was talking to a decision maker every 9.2 minutes, she thought it was high and wanted to know what she could do.

Problem: - It was taking Shelley 9.2 minutes before she was talking to a decisionmaker about buying or selling a home.

Solution:

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- The ability to compare her contact numbers with other users of the TelePro System. - Look at the time of day you are prospecting, in most areas between 7:00 p.m. and 9:00 p.m. is the best contact time. Shelley started prospecting at the most efficient hours in her market. - She started to take control of the conversation by using the answer and ask philosophy; answer their question and immediately ask another.

T o t a l s

Results: - Shelley dropped her contact time for talking to a decision-maker 59.7% or to 3.8 minutes per contact.

Benefit: - Now she is talking to more people and getting more appointments and making more money. By knowing your numbers you can see when it is most effective and dollar productive to prospect.

CORCORAN CONSULTING & COACHING Lesson 2: Debra was complaining of a slow market and not enough leads. Problem: - Not enough leads. Solution: - The ability to compare her tracking numbers with other users of the TelePro System. - After reviewing her tracking numbers, it was obvious to her that she wasnâ&#x20AC;&#x2122;t prospecting on a regular basis. - By seeing that her sales were a direct correlation to her prospecting, she set up a daily prospecting schedule and stuck to it. Result: - Debraâ&#x20AC;&#x2122;s sales increased. - She no longer thought it was a slow market. - She had plenty of leads, new and old. Benefit: - Suddenly she had more time to do other things because of scheduling her time. - This helped her to know exactly how many calls she was making.

Lesson 3: Ken was making contact with a decision-maker every 1.9 minutes but not getting the appointments. Problem: - By not getting enough appointments, you are not able to get the sales. Ken was getting an appointment every 18.3 hours compared to 1.6 hours for other users of the Tele-Pro System. Solution: - The ability to compare his appointment numbers with other users of the Tele-Pro System.

U n d e r s t a n d i n g Y o u r T o t a l s

CORCORAN CONSULTING & COACHING U n d e r s t a n d i n g

- He changed his dialogues by applying the answer & ask philosophy, answer their question and immediately ask another. By doing so, he controlled the conversation. - He looked at the type of calls he was making and he discovered that he was making more sphere of influence calls than anything else. - Although sphere of influence calls are great calls and a great source for leads, you need to mix up the types of calls you are making. Result: - Ken lowered his appointment time 80.55% or 3.56 hours per appointment. Benefit: - The only time your going to make a sale is when you have the opportunity to be face to face with buyers. - Having the ability to know how long it is taking you to make an appointment is a very valuable tool. By making more appointments you will write more contracts. - By writing more contracts, you will make more money. - By making more money you have the ability to do what you want.

Y o u r

Lesson 4: Deb complained of the roller coaster sales routine. Problem: Inconsistency in sales Solution: - The ability to compare her sales numbers with other users of the Tele-Pro System.

T o t a l s

- After reviewing her tracking numbers, it was obvious to her that she WAS on the dreaded roller coaster. You know the story; you get too busy to do the things that got you busy, talking to people. - She realized when she was prospecting she was making appointments. She got excited about her appointments and focused her time only on those appointments.

CORCORAN CONSULTING & COACHING - By focusing on the appointment and not continuing to prospect, eventually you run out of prospects. And your sales go up and down. - By seeing that her sales were a directly related to her prospecting, she set up a weekly prospecting schedule. - She scheduled days of the week she would prospect, the time of day she would prospect AND the number of contacts she wanted to make every day.

Result: - Her sales started to increase and she was no longer on the roller coaster.

Benefit: - She was in control of her income, her business and her time.

Lesson 5: Joe was making good contacts, getting buyer appointments but not getting listing appointments.

Problem: - No listing inventory.

U n d e r s t a n d i n g

Solution: - The ability to compare his listing numbers with other users of the Tele-Pro System. - By being aware that he was not getting the listings as frequently as other users, it was obvious to him that he wasnâ&#x20AC;&#x2122;t asking the listing questions. - He added all the listing questions to his dialogue.

Y o u r

Result: - Listing appointments.

T o t a l s

Benefit: - More listing appointments mean more listings. - More listings mean more buyer calls. - More buyer calls means more sales and more listing opportunities.

CORCORAN CONSULTING & COACHING U n d e r s t a n d i n g

Consider these questions and answers How can I talk to more people in an hour? - What days of the week are you calling? Thursday, Wednesday and Tuesday are the best prospecting days. - Call at the most productive time in your area. If you donâ&#x20AC;&#x2122;t know what time that is, start between 6:00 p.m. - 9:00 p.m. or the best hour 7:30 p.m. - 8:30 p.m. Best day time hour 3:00 p.m. - 4:00 p.m. - Follow a script. It keeps you on track.

How much commission do I make per dial? - Start using the Tele-Pro system as a tool to HELP you. Enter your sales and commissions as they occur and Tele-Pro will automatically calculate all of your commission categories. - Start inputting your commissions into the Tele-Pro system; it would be great to know you make $47.02 per dial or more.

How much commission do I make per hour? - Start using the Tele-Pro system as a tool to HELP you. By putting your commissions into the system you will have the answer to this question.

Y o u r

- Start inputting your commissions into the Tele-Pro system; it would be great to know you make $1,868.02 per hour or more.

Should I leave a message on an answering machine? - Personal preference, it is up to you.

How many people should I talk to in a day?

T o t a l s

- That depends on how successful you want to become. The top agents talk to 50 - 75 people a day about real estate. You have to learn to make telephone prospecting fun. It is a mindset. By knowing your numbers you will realize the amount of money that you are generating. Knowing that every dial of the telephone is making you $47.02, whether you talk to a son or not, should help you make the next call!

per-

CORCORAN CONSULTING & COACHING JUST MAKE THE NEXT CALL! How Can You Improve Your Numbers? Not unless you are aware of what your numbers are! That is what Tele-Pro is all about! Many things affect prospecting numbers, but it is all related to TIME. In this section we will break down each of the tracking categories and help you understand how you can improve your prospecting efforts.

Time Summary All six time components: minutes per dial, minutes per contact, minutes per appointment, minutes per listing, minutes per future follow up, and minutes per sale, are affected by the following: Time of day you are prospecting Type of prospecting you are doing Length of time you talk to people when they answer the phone Days of the week are you prospecting Do you follow a script?

Time of day you are prospecting * This will vary from area to area. Traditionally from 5:00 p.m. to 9:00 p.m. is the best calling time frame. * The best hour, in most areas, is from 7:30 p.m. to 8:30 p.m. * If you use any type of ProQuest, IVR or 800 Hotline systems, look at the time people are calling into your system. * The best time to call them back is the same time in which they called into your system. These systems are great for showing you the best calling times in your area. * Track the time of day you prospect. By using the Daily Call Log, which came as part of your system, you will have the time written down at the top of the sheet. Look at your minutes per dial and your minutes per contact. This will be a good indication if the time is productive.

U n d e r s t a n d i n g Y o u r T o t a l s

CORCORAN CONSULTING & COACHING U n d e r s t a n d i n g

What type of prospecting are you doing? * Make sure you are doing all types of telephone prospecting: Just listed, just sold, invitation to open house, IVR, info lines, expireds, canceled, sphere of influence, cold calling etc. * The hottest prospecting is accomplished by calling back the people that have called into your IVR or Hotline system. Call them back within 24 hours! Even better, call them back at the same time they called into your system.

How long are you talking to people when they answer the phone? * Remember, people want to be heard and understood. Are you listening to what people are saying to you? * The more dials you make, the more contacts you get. The more contacts you get the more face to face appointments you get. The more face to face appointments you get the more sales you are going to make. The more sales you make, the more money you are going to make. The more money you make, the more prospecting you want to do!! RIGHT?

Build RAPPORT and WORK no more! The two best words in prospecting are: ANSWER AND ASK *Every time somebody asks you a question, answer it and immediately ask them a question.

Y o u r

OR * Every time somebody makes a statement to you acknowledge what they said and immediately ask them a question.

For example: What is the asking price of this home? This home is priced at $229,000 is that a price range youâ&#x20AC;&#x2122;re looking to buy in?

T o t a l s

* By following this simple rule, you will usually control the conversation and get the information you need. If the person is ready to buy, you will find out early in the conversation. By doing this you will be able to get to the next telephone number you need to dial.

CORCORAN CONSULTING & COACHING What days of the week are you prospecting? * We recommend at least 1 hour of prospecting daily before noon and evening prospecting on Thursday evening between 6 and 9 pm. Saturday between 10-1 and Sunday between 11-2 are great prospecting times. * The number one hour for prospecting is from 7:15 pm to 8:15pm, Monday through Thursday. So if you are going to prospect in the evening, you may forgo the morning prospecting time. * We have found that Tuesday, Wednesday & Thursday are the best times during the weekdays. * Sunday between 5-7 pm is the very best time of the week for prospecting. You will find more people home and willing to talk to you. * The least productive days are Monday and Friday evening.

Are you following a script? * It has long been proven that following a telephone script will take the cold out of cold calling. * Scripts have only one purpose, close for the appointment.

U n d e r s t a n d i n g

* By having a script, the following occurs: - helps you maintain momentum - helps take the stress out of prospecting - maintains your focus - allows you to be in control at all times - a way to measure results - helps you get to the next call - helps you build confidence - takes the thinking out - builds a comfort zone - keeps you on track - keeps you going in one direction

Y o u r T o t a l s

- AND IT MAKES YOU MONEY!

CORCORAN CONSULTING & COACHING S t r u c t u r e O f

The Structure Of A Call! Buyer Agent LOCATION – PRICE – MOTIVATION – WORKING WITH ANOTHER AGENT – MORTGAGE - CLOSING FOR THE APPOINTMENT While I am looking up that information, what price range are you looking to buy in? LOCATION – WHERE DO THEY WANT TO LIVE? The home you called on is located in the _____ area, is that the only area you are looking to buy in? Just out of curiosity, what other areas are you looking to buy in?

PRICE – HOW MUCH HOUSE CAN THEY AFFORD? Zero Transfer calls- While I am looking up that information, what price range are you looking to buy in? All other calls - The home you called on is listed at $____________, is that the price range you are looking to buy in? So, what price range are you more comfortable buying in?

MOTIVATION – WHEN CAN THEY MOVE IN? By the way, do you currently rent or own your home? OWN: Oh by the way, is your home currently on the market? RENT: So, are you month-to-month or are you in a long-term lease? Just out of curiosity, how soon do you want to be in your new home?

WORKING WITH AN AGENT – HAVE THEY SIGNED A BUYER AGENCY AGREEMENT WITH ANOTHER AGENT? By the way, how long have you been looking for a new home? How many homes have you seen the inside of? Just out of curiosity, how have you been seeing homes, are you going to open houses, with an agent or door knocking?

A C a l l

At this point determine if you are working with an A, B, or C Buyer. If A Buyer Proceed To Mortgage and Then Close For The Appointment! If B or C Buyer, discuss the appropriate follow up system, get their email address and place in your automated follow up system. Place your Buyer Information Sheet into the appropriate folder so that you can do your follow up calls.

MORTGAGE By the way, will you be paying cash or will you need a mortgage?

CLOSING Based on the information you have given me, here is what I recommend we do…. Let’s set up a time to meet in my office to go over the home buying process, do a complete market overview plus set up a time to go look at homes. How does that sound?

CORCORAN CONSULTING & COACHING SAMPLE CALL by a Buyer Agent USING THE STRUCTURE OF A CALL SCRIPT LOCATION – PRICE – MOTIVATION – WORKING WITH ANOTHER AGENT – MORTGAGE - CLOSING FOR THE APPOINTMENT The following sample call from a prospect to the agent demonstrates how to get the information that you will need to determine if the prospect you are talking with is a potential buyer for you. Ring… Ring… AGENT: It’s a great day at XYZ Real Estate, this is Sam, how may I help you? PROSPECT: I was calling about your listing on Main Street. AGENT: Great, while I look up that information, is that the only area you are looking to buy in? PROSPECT: Yes, I really like that area. AGENT: That’s a really great area. Just out of curiosity, are there other areas you interested in buying in? PROSPECT: I also like (will state the areas). AGENT: Fantastic, those are really good areas. I have the information on the home you are calling on it is listed at $299,999.00, is that the price range that you are comfortable to buying in? PROSPECT: That might be a bit steep for us. AGENT: What price range are you more comfortable with buying in? PROSPECT: I was thinking around $200,000 AGENT: I see, have you met with a lender yet? PROSPECT: No. I want to find the house first and then call a lender. AGENT: I can appreciate that, I have worked with several people who felt the same way as you. However, what I would like to do is make you a cash buyer, and by that

S a m p l e C a l l

CORCORAN CONSULTING & COACHING I mean, getting you approved for your loan. Then, once we have found the home that you want, because you are already approved, your offer will be taken seriously, that makes sense doesn’t it? PROSPECT: Yes. AGENT: Great, then what I would like to do is give your name and number to Joe Smith with XYZ Mortgage, we work very closely with Joe and he will be able to discuss your situation and find the loan with the terms that suit your needs. Will you be available later this afternoon to receive his call?

S a m p l e C a l l

PROSPECT: Yes. AGENT: Oh, by the way, do you currently rent or own your home? PROSPECT: I rent. AGENT: Great, now are you in a long-term lease or do you rent month to month? PROSPECT: I rent month to month. AGENT: Great, then we have a lot of work to do before your next rent payment is due, don’t we? PROSPECT: I guess so OR: PROSPECT: I own my home. AGENT: I see, tell me, are you going to need to sell your current home before you purchase your new one? PROSPECT: Yes. AGENT: Is your home on the market? PROSPECT: No, not yet.

AGENT: I see, well what I would recommend is that I have (Rainmaker) give you a call to discuss the possibility of selling your home. What is the best number for (Rainmaker) to call you on? PROSPECT: (gives number). AGENT: Great, now how long have you been looking for your new home?

CORCORAN CONSULTING & COACHING PROSPECT: About a month. AGENT: Just out of curiosity, how many homes have you seen the inside of? PROSPECT: 3 or 4. AGENT: Great, and how have you been viewing them, open houses, with an agent or knocking on doors,? PROSPECT: Open houses. AGENT: Great, based on the information that you have given me, the first step is going to be getting your home on the market so that once we find the house you like we will be able to write an offer, okay? PROSPECT: Okay. AGENT: Great, let’s set an appointment to get together and talk about getting you into your new home, I have (Day at Time) open, by that time you will have spoken with Joe about your mortgage, and you will have had time to get your home on the market. Then we will be able to get you into your new home, how does that sound? PROSPECT: That sounds great, see you then.

S a m p l e

AGENT: Do you know where our offices are located? …………….

C a l l

Welcome to the world of Dollar Productive Real E$tate! 47

CORCORAN CONSULTING & COACHING NOTES

M y N o t e s

CORCORAN CONSULTING & COACHING NOTES

M y N o t e s

CORCORAN CONSULTING & COACHING

3 0

Buyer Agent BootCamp

D a y s

30 Days to Mastery Your Schedule for Success

T o S u c c e s s

Your whole life changes the day you make a commitment! ……….Bob Corcoran

CORCORAN CONSULTING & COACHING HOW TO ACHIEVE SUCCESS IN REAL ESTATE Today is the first day of the rest of your life. That’s not just a cliché. It’s a statement about taking control. Whether you’re a newcomer to real estate or a veteran whose career has never quite taken off, you can begin today on the path to success. Start by recognizing that there are no excuses for failure. In this business, the harder you work, the more money you’ll make. There’s no secret beyond that. The most common reason for not making it, is giving up before you get over the last hill. There are endless rags to riches stories in real estate. It’s fine to talk about hard work and perseverance, but exactly what do you need to work at? What steps lay the groundwork for future success? Questions were posed to successful practitioners who remember what it was like to show up for work that first morning, be assigned a desk and a phone, and be told to “get out there and make it happen.” The following is what they experienced and how you can get better results by following this program. Day 1: Hit the Ground Running You’re there, most likely in an office with half a dozen or more salespeople, all talking on the phone, filling out paperwork, photocopying forms that may be mysterious to you, and all seeming to know exactly what they’re doing. “Take your coat off, sit down, and start compiling a list. Figure out everybody you know your family, friends, friends of friends, people you write checks to, your barber, your dry cleaner - and then send them a letter telling them you’re in the business,” says Bob Corcoran, founder and President of Corcoran Consulting & Coaching. Follow up on the letters a few days later with phone calls. These calls won’t violate the federal do-not-call laws because you’re speaking to friends and acquaintances. If you’re a rookie, reiterate that you’ve started this new career; if you’ve been in the business a while, remind people of your commitment to helping people achieve their real estate goals. Ask if they know anyone who may be looking to sell or buy a house. This is the way to build your database, the most important prospecting tool you’ll ever develop. “The goal is to find a niche and fill it,” says Corcoran. “Everyone comes from somewhere. Maybe you went to school or worked at a local electronics company; maybe you were a farmer or a small business owner. Whatever you did, you have contacts in those fields. Start with those and see where they take you.”

3 0 D a y s T o S u c c e s s

CORCORAN CONSULTING & COACHING As for the rest of the day, rookies should “make contact with all their colleagues,” says Corcoran, “not just the broker and other salespeople but the corporate and support people. They’re going to be your support system for the first few months.”

3 0 D a y s T o S u c c e s s

Day 7: Structure Your Days Real estate is notoriously unstructured. Many people choose it for exactly that reason. But appearances can be deceiving. Top salespeople understand that success requires discipline, and that discipline has to come from within. You’re not punching a clock, but you still need to follow some basic rules. People think they’re here to sell houses, actually, they’re here to run a business. It’s all about mind–set. Successful agents follow the same schedule every day. Concentrating on such activities as getting face-to-face appointments, monitoring ongoing sales, and tracking their balance sheets to make sure the team’s meeting its goals. Many salespeople use the mornings to prospect for new business and the afternoons for everything else—showings, paperwork, and staying abreast of developments in the market. “It’s all about getting in front of people,” says Corcoran. “We call, knock on doors, send out newsletters to every house in the neighborhood. If you’re not in front of people the instant they decide to buy or sell, you’re not going to get the client.” Another must: Know your product. We suggest that you drive around your market. Find out where the schools and parks are; look at what’s being built in the neighborhood. You have to educate yourself. Talk to builders; accompany a home inspector for a day. However you do it, you need to know what is out there. Day 14: Have a Plan By now, your overall strategy should be emerging. Bob Corcoran will tell you, “A detailed plan is the first step to being successful in any business. Plan your work and work your plan on a daily basis”. Work with your broker/ rainmaker to set some goals, and put them in writing. If you don’t have something you’re working toward, you really feel like you’re struggling.

CORCORAN CONSULTING & COACHING Many experts suggest that you start with income - how much you’d like to earn per year - and work backwards by figuring out how many transactions you’d need to do and at what selling price. For example: If you want to gross $250,000 a year but your average commission is only $1,000, you have to ask yourself if you have the business infrastructure in place to do 250 transactions a year. If you don’t, adjust your plan. Many salespeople generate leads through concentrating on a certain geographic area or other sphere of influence. Keep it manageable, say 200 to 300 houses in a given neighborhood. Be in touch with each resident a minimum of once a month. Your plan should also factor in your technology needs. Essentials include a cell phone, a computer with e-mail (preferably with a business address rather than a freebie such as Hotmail or Yahoo), and information about yourself at your broker’s/ rainmaker’s Web site. Day 21: It is Beginning to Make Sense By now you should be into a daily routine of Dollar Productive Activities, we call them DPA’s. Your DPA’s must include prospecting, selling and negotiating. These three activities are the only activities that result in making money. You need to be doing DPA’s 70% of the time by the beginning of your third week in real estate. If you are not being Dollar Productive 70% of the time, be sure to talk to your broker/ rainmaker; together design a plan to get you back on track. At or around the third week you will have appointments and will be working with several buyers. All of this activity has you busy. Being busy won’t make you money, staying organized and in control of your clients will allow you the necessary time to put money in the bank and continue to build your pipeline of buyers. Remember what got you busy with clients is your prospecting. In order to continue to have a steady business you MUST continue to prospect no less than 2 hours per day. The fact is if you stop prospecting, your business will dry up and you will have purchased a ticket on the Real Estate Roller Coaster. Day 30: Learn as You Sell The myth of the born salesperson is exactly that. Top producing agents took every class they could in the beginning. What we have discovered is that no one program is exactly right for you. You need to take pieces from all of them and implement them into your business. If your company doesn’t provide training, check with your local association, or see what classes are available in your community.

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CORCORAN CONSULTING & COACHING

3 0 D a y s T o S u c c e s s

No one can predict when you’ll sell your first house. For some, it takes a month. For others, it’s six months. By the end of one month, however, you should at least feel that you’re well on the way. But no matter where you’re at, avoid getting discouraged. The fact is, rejection is going to be a big part of your life in the early days. On average, 20 percent of the population moves in a given year. So going in, you know eight out of 10 people are not going to be your clients. “You have to understand that rejection is going to happen,” says Corcoran. “You can’t let yourself get beat up.” Even experienced salespeople occasionally fall into sloughs and slumps. These typically have less to do with fear of rejection than with such factors as weariness, monotony, and burnout. Don’t underestimate the value of scripts for dealing with contacts. Making it up as you go along is fine for actors at Chicago’s famed comedy improv theater, Second City, but less so for salespeople. So use your Scripts to Dialogues. In the beginning, judge your success or failure not by whether you get a particular client but by whether you get through your script. Now is also a good time to start investigating alternative sources for leads. Check out previous transaction files. Real estate offices are required to keep files of all transactions for a certain number of years. “Go back through all the files of salespeople who’ve left the business, and adopt those clients,” says Corcoran “If someone bought a house five years ago, the person may be thinking about moving or know somebody who is.” Finally, consider asking a more experienced salesperson to be your mentor. Find a colleague in your office who seems to be successful and whom you like, and take that person to lunch. Ask how he or she did it - what are the top three keys to their success. In some cases, you may want to take it a step further. Approach the top associate in your office, and offer to do open houses for them. You will collect buyer leads.

CORCORAN CONSULTING & COACHING Curing A Sales Slump There’s nothing more disheartening than seeing your business take an unhealthy turn, but it’s a common malady in our profession. Here’s my prescription for recovery. 1. Look back. Take a hard look at what you were previously doing that produced results. Is there a prospecting program that you’ve begun to take for granted? 2. Get personal. People receive a lot of direct mail from real estate professionals. Most of it is impersonal and mundane. Never send out anything without a handwritten note that includes the name of the person it was going to and your personal signature. 3.

Know your mission. In real estate, our mission is to sell homes. Don’t forget it. Direct your efforts to those things that get the bills paid.

4. Keep your priorities straight. Most of us become immersed in our career. That’s understandable, there’s a lot about it to love. But unless you’re in good health, part of a network of supportive family and friends, and at peace with yourself, there’s likely to be emotional (and professional) trouble ahead. 5. Get back to the basics. The basics are about staying dollar productive. If you are in a slump ask yourself the following questions. What did I do today to make money? Am I following the recommendations of my broker/rainmaker? You are in charge of your own success! If you believe that you are going to flourish, you will!! If you believe that you are going to fail, you will!!

Conceive - Believe - Achieve

3 0 D a y s T o S u c c e s s

CORCORAN CONSULTING & COACHING

30 Days to Mastery

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Let’s Get Started You Are About To Begin

D a y s T o

Your Road To Success A Step-by-Step Guide Your real estate career will flourish if you follow a proven path to success. This week-byweek guide is a good start, but don’t feel you need to follow it precisely. It doesn’t really matter; what does matter is that you work your way through these milestones over the next 30 days. Indeed, some issues, such as an overall business plan, should probably be considered well before you step in the door on the first day.

S u c c e s s

CORCORAN CONSULTING & COACHING Week 1: You’re in business. That means you need a plan. 

Identify your goals in terms of income and lifestyle.



Then, make sure your Service Area can support that level of productivity. (If your goal is to make $200,000 a year, but the average commission in your area is only $3,000, you may want to reevaluate.)



Once you have a goal that seems realistic, figure out how many transactions you’re going to need to close to achieve it.

One of the first things you should do is have a professional photo taken for use on your business cards and your broker’s/ rainmaker’s Web site. Checklist: 1. 2. 3. 4.

Track Sales Track Goals Take Photo Create Buyer Book

5. 6. 7. 8.

Extend Education Role play Prospect Schedule Open Houses

  

Daily Activity Record Buyer Information Sheet Seller Information Sheet Lead Management Process Unlocking Your Telephone and Discovering A Gold Mine Structure of A Call Buyer Book Open House Checklist

D a y s T o

Documents to be used:     

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       

Open House Invitations Goals Sheet Sales Tracker Report F.O.R.D. Technique Relocation Book Open House Book Open House Schedule Open House Ads

S u c c e s s

CORCORAN CONSULTING & COACHING Week One -Day One Schedule

3 0 D a y s T o S u c c e s s



Create a Goals Sheet



Create a Sales Tracker Report



Have a professional photo taken and get a digital copy



Attend Online Database Training



Role play the F.O.R.D Technique for 30 minutes



Have at least 2 hours of appointments/ prospecting scheduled



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week One - Day Two Schedule: 

Role play Hotline Script (if you have an IVR) for 30 minutes



Compile information for Goals Sheet and enter into sheet



Have at least 2 1/2 hours of appointments/ prospecting scheduled



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week One - Day Three Schedule 

Role play the F.O.R.D Technique for 30 minutes



Role play Hotline Script (if you have an IVR) and Structure of a Call for 30 minutes



Revise Buyer Book



Have at least 1 hour of prospecting to IVR leads (if applicable), internet leads, or leads from brochures



Revise Open House Checklist



Create Relocation Book and Open House Book

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Ask other agents in your office about setting Open Houses for them



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

CORCORAN CONSULTING & COACHING Week One - Day Four Schedule 

Role play the F.O.R.D Technique for 30 minutes



Role play Hotline Script (if you have an IVR) and Structure of a Call for 30 minutes



Have at least 2 hours of prospecting to IVR leads (if applicable), internet leads, or leads from brochures



Create Open House Schedule



Print Open House Checklist



Place ads for Open Houses and create Invitations



Have at least 1 1/2 hours of appointments/ prospecting scheduled



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

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Week One - Day Five Schedule 

Role play the F.O.R.D. Technique for 30 minutes



Deliver Open House invitations



Role play Hotline Script (if you have an IVR) and Structure of a Call for 30 minutes



Have at least 2 hours of prospecting to IVR leads (if applicable), internet leads, or leads from brochures



Print materials for Open Houses



Place ALL Open House materials in your car



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week One - Day Six Schedule 

Deliver any invitations to houses you missed the first time



Set up and Conduct Open Houses



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

T o S u c c e s s

CORCORAN CONSULTING & COACHING Week 2: You need to make money. This means you need to begin developing your Sphere of Influence.

3 0 D a y s



Compile a list of everyone you know - family, friends, friends of friends, trades people, and professionals you’re in regular contact with such as doctors, lawyers, teachers, and store owners. Send them a letter letting them know that you’re now in real estate and available to take care of their real estate needs.



This is the beginning of your database, the single most productive prospecting tool you’ll ever have.



Purchase a map and outline your Service area.



Then, get in your car and drive every inch of it, the main streets, the side streets, the alleys and the parking lots. Get a feel for the different kinds of housing in the area and also the locations of parks and schools and other amenities that affect pricing - and salability - of nearby residences.

Checklist:

T o S u c c e s s

1. 2. 3. 4.

Compile your Sphere of Influence Mail Announcement Letter Outline your Service Area Drive your Service Area

5. Role play 6. Prospect 7. Schedule Open Houses

Documents to be used:      

Daily Activity Record Buyer Information Sheet Seller Information Sheet Lead Management Process F.O.R.D. Technique Referral Letter

    

Unlocking Your Telephone and Discovering A Gold Mine Structure of a Call Introductory Postcard Open House Checklist Open House Invitation

CORCORAN CONSULTING & COACHING Week Two - Day One Schedule 

Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Define your Sphere of Influence and enter into your Contact Manager



Send Thank You cards to your Sphere of Influence



Prepare, print, and mail Referral Letter to your Sphere of Influence



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Have at least 1 1/2 hours of appointments/ prospecting scheduled



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

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Week Two - Day Two Schedule 

Role play the F.O.R.D. Technique for 30 minutes



Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Make Hour of Power calls to your Sphere of Influence



Mail Announcement Letter to your Sphere of Influence



Choose, Evaluate, and Drive your Service Area



Have at least 1 1/2 hours of appointments/ prospecting scheduled



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week Two - Day Three Schedule 

Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Get specific Service Area(s) street names and zip codes



Request mailing list from your title company for your Service Area



Prepare and send Introductory Postcard to your Service Area

T o S u c c e s s

CORCORAN CONSULTING & COACHING Week Two - Day Three Schedule Continued 

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Week Two - Day Four Schedule

D a y s T o S u c c e s s

Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night



Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Input Service Area mailing list into your Contact Manager



Prepare mailing list for Introductory Postcard from your Contact Manager



Print Open House invitations



Have at least 2 1/2 hours of appointments/ prospecting



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week Two - Day Five Schedule 

Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Have at least 2 1/2 hours of appointments/ prospecting



Deliver Open House invitations



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week Two -Day Six Schedule



Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Have at least 1 1/2 hours of appointments/ prospecting



Conduct Open House

CORCORAN CONSULTING & COACHING Week Two - Day Six Schedule Continued ď&#x201A;ˇ

Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

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You are now at the end of week two. Please make a list of your success below:

D a y s T o

Please make a list of where you feel you need to improve:

S u c c e s s

Write down your goals for the next 2 weeks:

CORCORAN CONSULTING & COACHING Week 3: You’re starting to see customers now; make sure they know you mean business.

3 0 D a y s

Later in your career, you’ll have room for flexibility, but at the start, it’s a good idea to maintain regular hours.



Plan on starting no later than 9 a.m. and working until 5 p.m., whether it’s in the office or in the field.



Wear business attire.



Make sure your tools and equipment are in order, which includes a clean car, a cell phone, and a laptop or a handheld computer.



The goal is to project competence and professionalism.

This is a good week to follow up on those letters. Call your entire prospect list. Remind people that you are now in real estate, and ask if they or anyone they know is looking to buy or sell a house. Checklist: 1. 2. 3. 4.

T o S u c c e s s



Create Weekly Schedule Evaluate Wardrobe Evaluate Equipment Follow up calls

5. 6. 7. 8.

Role play Prospect Schedule Open Houses Service Area

Documents to be used:      

Daily Activity Record  Structure of a Call Buyer Information Sheet  Open House Invitation Seller Information Sheet  Open House Checklist Lead Management Process F.O.R.D. Technique Unlocking Your Telephone and Discovering A Gold Mine

CORCORAN CONSULTING & COACHING Week Three - Day One Schedule 

Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Create your Weekly Schedule



Have at least 3 hours of appointments/ prospecting



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week Three - Day Two Schedule 

Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Have at least 4 hours of appointments/ prospecting



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week Three - Day Three Schedule 

Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Make Hour of Power calls to your Sphere of Influence



Print Open House invitations



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

3 0 D a y s T o S u c c e s s

CORCORAN CONSULTING & COACHING Week Three - Day Four Schedule

3 0 D a y s

Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Have at least 4 hours of appointments/ prospecting



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week Three - Day Five Schedule

T o S u c c e s s



Use Daily Activity Record, update Contact Manager (office work)



Return calls and emails



Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Print and Mail Service Area Introductory Letter



Deliver Open House invitations



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week Three -Day Six Schedule



Evaluate Wardrobe



Evaluate Car



Have at least 2 hours of appointments/ prospecting



Deliver any invitations to houses you missed the first time



Set up and conduct Open House



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

CORCORAN CONSULTING & COACHING Week 4: You should have a lead or two from your letters and calls.. Another source of leads: 

Go through the files of salespeople who have either retired or left the company and talk to your broker/ rainmaker about adopting those clients.



With your broker’s/ rainmaker’s OK, contact them and tell them you’re calling as a representative of the company that sold them their house/ helped them find their house.

Is your buyer packet in order? A good buyer packet: 

Looks professional,



Includes information on you and your company,



Provides prospective buyers with clear benefits of working with you.



Ideally, your presentation should be available in both print and electronic formats.



Make sure that you are using your Buyer Book as part of your presentation.

3 0 D a y s

Checklist: 1. 2. 3. 4.

Prospect Sphere of Influence Adopt clients Prepare Buyer Packet Prepare Electronic Buyer Presentation

5. 6. 7. 8.

T o

Role play Prospect Schedule Open Houses Prepare Intro Letter

Documents to be used:      

Daily Activity Record Buyer Information Sheet Seller Information Sheet Lead Management Process F.O.R.D. Technique Unlocking Your Telephone and

   

S u c c e s s

Discovering A Gold Mine Structure of a Call Open House Checklist Open House Invitation Buyer Book

CORCORAN CONSULTING & COACHING Week Four -Day One Schedule

3 0 D a y s

Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Mail Introductory Letter



Talk to Broker/ Rainmaker about past Agent files



Have at least 3 hours of appointments/ prospecting



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week Four -Day Two Schedule

T o S u c c e s s



Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Prepare electronic version of Buyer Presentation



Compile list of past Agent files’ past clients and enter into your Contact Manager



Have at least 3 hours of appointments/ prospecting



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week Four -Day Three Schedule



Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Have at least 3 hours of appointments/ prospecting



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

CORCORAN CONSULTING & COACHING Week Four -Day Four Schedule 

Role play the F.O.R.D. Technique for 30 minutes



Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Make Hour of Power calls to your Sphere of Influence



Print Open House Invitations



Have at least 3 hours of appointments/ prospecting



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

Week Four -Day Five Schedule 

Have at least 1 hour of prospecting to Open House leads, IVR leads (if applicable), and brochure leads



Role play the F.O.R.D. Technique for 30 minutes



Make Hour of Power calls to your Sphere of Influence



Prepare Buyer Packet



Deliver Open House Invitations



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

3 0 D a y s T o

Week Four -Day Six Schedule 

Have at least 2 hours of appointments/ prospecting



Deliver any invitations to houses you missed the first time



Set up and conduct Open House



Update your Contact Manager, complete your Daily Activity Record, and return calls and emails in the morning, afternoon, and night

S u c c e s s

CORCORAN CONSULTING & COACHING You are now at the end of week four. Please make a list of your success below:

3 0 D a y s

Please make a list of where you feel you need to improve:

T o S u c c e s s

Write down your goals for the next 2 weeks:

* Continue to make your weekly goals and review your success and areas that you need improvement.

CORCORAN CONSULTING & COACHING NOTES

M y N o t e s

CORCORAN CONSULTING & COACHING Y e a r l y S a l e s G o a l S h e e t

Your sales goal for next year?

Your stretch goal for next year?

Your dream goal for next year?

CORCORAN CONSULTING & COACHING Y e a r l y S a l e s G o a l S h e e t 73

CORCORAN CONSULTING & COACHING Your whole life changes the day YOU MAKE a commitment. …….Bob Corcoran

Y o u r

C o m m i t m e n t

What did you learn today? What did you realize you’ve been procrastinating about the past few days, weeks, months, years? What are you going to do about it? As we go along, list four commitments that will help you grow your business. Commitment 1

Commitment 2

Completion Date

Commitment 3

Commitment 4

Completion Date

Commitment is the stuff Character is made of… the Power to change the face of things. …….Bob Corcoran

CORCORAN CONSULTING & COACHING Referral Program As we all know, personal referrals are the strongest recommendation that one can receive when purchasing a new product or service. Our business is no different, and that's why we would like to ask you, our valued clients, to let us know of anyone who will benefit from our services. Just like you paid us to help you grow your business, we are happy to pay you to help us grow our business. In fact, we'd love to pay you up to $1000 for each NEW client who comes on board. You only need to do two things to earn the cash. 1. Simply send us an email (Info@CorcoranCoaching.com) or give us a call (1 -800-957-8353) with the persons' name(s) and contact information.

W e L o v e

2. Pick up the phone and let that person or people know who we are and why you believe they will benefit from a relationship with us.

Now, how easy is that? Once your referral begins their program with us, we will credit you up to $1000 off of your next month's coaching feesâ&#x20AC;Ś.now, won't this be the easiest money you've ever made! The payout will depend on which of our services they choose to participate in: a. Telephone Implementation - $650 b. Full Implementation - $1000! Please do not hesitate to give us a call with any questions or any referrals, and as always, if you need us, we are here for you! Thank you, The Corcoran Consulting & Coaching Team

R e f e r r a l s