
Bringing Success to Life
99 New Ways to Profit - Part I
Introduction: Earlier this year I hosted a blue ribbon panel presentation in Las Vegas that included top producers Ed Birdsong of Birdsong Realty, Nate Martinez of RE/MAX, Dick Mathes of Home Realty, Sandra Nickel of Sandra Nickel Real Estate and Mike Parker of RE/MAX. The event was the basis for my popular new Life Success Systems tape set, "99 Ways to Profit in the New Millenium." During the next few weeks, I’ll be bringing you all 99 concepts – 9 per column. I know you’ll profit from this powerful compilation, developed exclusively for RealEstateProfiles.com
- Add value. Give people a compelling reason to become and remain a customer with you by adding value to your service that’s unique and meaningful, something extra the customer gets from doing business with you. Federal Express, for instance, has a special program called the Express Plan, which gives gifts to corporate mailroom personnel who choose them. Arby’s has a club called Club Arby’s, that gives points for purchases that can be used at fun places. One franchisee reported that the Club concept doubled repeat business. What have you done to keep your customers loyal?
- Plan for greater profitability. Understand the dynamics at work that make every customer a valuable lead source for years to come through repeat business and referrals. The sad fact that one out of two marriages end in divorce presents an opportunity. One customer can become two. Another fact is that most people have seven job changes, often requiring a move. Huge numbers of people are baby-boomers, turning 50! A quarter of them will experience eldercare, meaning they must care for their parents. More than a quarter will experience their adult children moving home again. These changes create needs for you and your service, because housing needs change with each life-stage. Understand the demographics – and you can become a very valuable consultant.
- Determine your Top 10 customers. What have you done to stay in touch and to bond? Customers don’t want a fruit basket, they want you. Be sure you have a special plan to care for your Top 10 customers. They require, and deserve special attention. At the same time, have a plan for all your customers. This includes consistent and creative follow-up. Even in the Internet era, people value personal written correspondence.
- Develop a 12-month calendar. Build your own, using this resource list. One of the best planners I know is Bill Barrett [www.billbarrett.com]. I created the following yearly schedule with inspiration from my friend Bill Barrett’s recent NAR session, "Millennium’s Ultimate Prospecting, Presentation and Servicing Plan."
- January
- Revise your per-list package, read ‘Raving Fans’, take a past client to breakfast.
FebruaryReview your pricing dialogues, send a mailer to a group to say that you can arrange a free mortgage pre-approval over the phone.
MarchSeek new third party endorsements and testimonials, make hour of power ‘just sold’ calls.
AprilJanuary through March quarterly summary of sales, learn the buttons on your cell phone, revise your business card or brochure.
MayDevelop a postcard featuring area restaurants and phone numbers, contact three favorite businesses to see if they would offer discounts on items or all items for your VIP clients, make up a list of ten good builders with phone numbers – know how they can co-op with you.
JuneDevelop dialogues for explaining ‘extra value’ services, develop three new email messages to send to inquiries, revise your home highlight sheet.
JulyLearn three new ways to use your digital camera, add testimonials from happy sellers to your just sold cards, review your referral income for the year and plan an annual special vacation to be paid for by referral income only.
AugustSend a ‘no holiday in August’ letter, select three buyers who deserve the use of a handyman at your expense for two hours free, find an investment property to buy for yourself.
SeptemberTake a vacation to Europe or to the resort of your choice, have a once-a-year staff/team appreciation party, read ‘Don’t Sweat the Small Stuff’.
OctoberRevise your closing gift, learn new answers for new buyer objections, find a new profit center and start mailing.
NovemberVote! Develop new ways to say ‘no’ to time-stealers.
DecemberPlan how you will celebrate the holidays with your clients and with your family, make hour of power calls – "This is not a business call, have a great holiday," revise your ‘seller moving and closing questions’ handout.
Use your team more effectively. Develop criteria for immediate rewards but don’t give money. Winner wealth, bonus bucks, etc. work far better. Give your own bonus dollars. For example, for next five sales, $50, for next twenty sales, $100, after twenty-five sales, $150. Bucks are redeemable in March of next year. If you are terminated for cause or quit, you lose. If you’re here, you get to use this money for trips, furniture, or clothing. Never cash.
Track these ideas: Get a three ring binder, jot one idea on each page, include why to do it, how to do it, phone numbers and short-cuts. Put one idea on each page. Review the idea book with your team from time to time to stay focused.
Invest in tools for profit. The KODAK DC210 Plus Zoom Digital Camera and micro-perforated business cards can work together. Print mini-fliers about your listed homes with your business card on back. "Mr. and Mrs. Seller – please distribute this to your friends and co-workers."
Use your digital camera to add a photo of the expired or FSBO home to the letterhead and to the envelope you use to prospect. Especially important for the first mailing! Also use your Kodak Digital camera to make an easy slide show of comparable homes, prior to your listing appointment. You can visually ‘tour’ the competition.
Make a slide show of a potential listings defects. Secure the listing, and then offer to make merchandising suggestions. While viewing the defects on your computer, ask, "Is this something you want to take care of before the buyer takes a discount?" You’ll see people make a list right then of what to do. It’ll put money in their pocket and your pocket, too.
In my next column I’ll be back with 9 more tips from the 99. Stay tuned for success!
Dave Beson is one of real estate’s leading speakers and writers, and is the head of Dave Beson Seminars. If you would like to order the full tape series or find out about his productivity products and speaking opportunities you can contact him at:
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