Jennifer Allan's Selling to Your Sphere of Influence - No Sales Pitch Required!

So... whatcha' thinking I might be thinking here? More lunch dates? More blogs? More Facebook, Twittering or Linking In? Or, egads, more cold-calling, door-knocking or referral-begging?

Nope.

Here's a reeeeal easy way to double your business every single year.

EARN one referral from every single client.

If every buyer and seller you serve, every year, were to send just one buyer or seller your way in the twelve months following your time together, you'd double your business, wouldn't you? And of course, if your buyer or seller is that tickled with you that they'll send one person your way, I'm guessing they might do it again... and again... and maybe even again!

So, how do you go about inspiring your buyers and sellers to refer business to you?

Expensive closing gifts?
Nope.

Incessant reminders of your affection for referrals?
Nope.

Monthly newsletters and postcards showcasing your listings?
Nope.

Boilerplate greeting cards on the one month, three month, six month and one year anniversaries of their closing?
No again.

A contract signed at closing where your buyer or seller commits to sending you at least three referrals?
OMG, no.

Gifts, drips, cards or contracts won't inspire anyone to send you business. Oh, they might remind someone that you exist and how to find you, but unless they already think highly of you as a real estate agent, ain't no business coming your way as a result of said gifts, drips, cards or contracts.

It's so, so, so simple. Just be great at what you do. Take care of your current clients as your very first priority. Go the extra mile (where, to paraphrase Roger Staubach, there's not much traffic). And then stay in touch just enough to remind without becoming a nuisance.

And watch your business grow...

RELATED BLOGS:
Y'think Your Clients Are Talking About Their Real Estate Agent?
If a Tree Falls in the Forest and Nobody Hears it, Is Your Realtor Doing His Job?
Okay, So the Sign's in the Yard, What Next?
Ten Ways to Show Your Seller You Don't Care
I'm the Best Listing Agent I know

Yesterday, one of my readers sent me an article from her local newspaper that was a list of Do's and Don'ts for new college graduates. In the Top Ten list of Don'ts was this gem: "Never 'Friend' a Realtor on Facebook." No explanation; apparently, none needed.

Ouch.

Also yesterday, an article came out in Inman about a "sure-fire" prospecting technique that basically advises agents to accost anyone who comes within three feet of them with "I'm a real estate agent, do you know anyone who needs to buy or sell a home?" If the accosted person does not, in fact, know anyone who needs to buy or sell a home, the agent should smile sweetly and tell them they'll give them a little time to think of someone and check back in a bit. Or something like that.

Again, ouch.

I may rant further on the Inman article in a future blog, but for today, I'll just try to be helpful ;-] not rant-y.

So... here's me being helpful on this beautiful Friday.

Imagine having coffee with a potential new friend who, you find out, sells life insurance. Being self-employed yourself, you realize that this potential new friend would luuuuuuv to tell you all about his products and services, and persuade you send all your friends his way so he can do some "financial planning" for them.

Truthfully, you're really hoping he won't, right? But, sigh, you know he will. Just as you're tempted to do as soon as he finishes HIS pitch.

You settle in for the inevitable presentation, comforting yourself with the knowledge that it'll be your turn soon enough (you hope).

(Now, this behavior might be appropriate, or at least tolerated at a networking event, but it's actually rather obnoxious over a friendly cup o'coffee.) 

But what if... what if this potential new friend pleasantly surprised you by NOT launching into his elevator speech? What if... after you exchanged the obligatory "what do you do's?" he instead launched into... a funny story about one of his clients? Or a poignant story? Or even a light-hearted PITA story? But a STORY about his insurance business, without a hint of pitch, presentation or persuasion?

And then... when he finished his story, he turned his attention to YOU and seemed sincerely interested in your reciprocating with a funny, poignant or PITA story of your own about your real estate business?

Of course, you could return with: "Wow, that's really interesting. So, do YOU know anyone who needs to buy or sell? I promise to take great care of them, just like they're my family, and my company is awesome and I have a 168-point marketing plan and I have a promotion I'm doing right now that for every referral that goes to closing, I'll give the referer an iPad and the greatest compliment I can receive is your trust in me when you send your friends my way for professional real estate services...?"

And watch your potential new friend sigh, and politely disengage at the first opportunity, never to be heard from again.

Surely there are plenty of things you can share about your wonderful real estate career besides the fact that so you're so desperate for business you must beg for it at every social opportunity? Right?

Right?

I'm a big fan of communicating with one's sphere of influence (SOI) via the written word - with the caveat that those written words are YOUR written words, not some words written by someone else who doesn't know you!

If your SOI "hears" from you on a reasonably regular basis - and again - that means they hear from YOU (not that mysterious someone else), they'll remember you, and even better, they'll remember you FONDLY. I've written about this concept once or twice or a dozen times - see the list below for related blogs.

Anyway, agents ask me all the time what they should write about that will inspire their SOI's to remember them FONDLY. Their new listing or recent sale? How low interest rates are and what a great time to buy it is? A reminder to winterize their sprinkler system or change smoke detector batteries?

YAWN. No, none of these.

There are a gazillion things you can write to your SOI about that won't come across as pitchy, pushy or just ho-hum. One of those things is the YAY-ME letter.

Huh? YAY-ME? Isn't that the epitome of pitchy, pushy or even ho-hum (after all - who cares about ME?)

Yep - if you do it wrong.

But if you do it right? It's a fabulous opportunity to very subtly remind your sphere that you're competent and confident AND give them a chance to congratulate you on whatever it is you're telling them about which can open up the door to conversations! And conversations with the people we know can lead to all sorts of wonderful things.

So, Jennifer, um... what's an example of doing it right?

Glad you asked ;-]

Here's a letter recently sent out by one of my faithful readers. She sent it individually to each of her 2010 clients, although I'm sure it could be tweaked to be sent to her entire SOI. My reader enjoyed a tremendous response to the letter, got a few (unsolicited) glowing testimonials to use in her marketing and may even have a few new clients to show for her efforts.

The subject line of the email was: "And the award goes to..."

(and here's the text of the message)...

...me!

This week I had the pleasure (and total surprise) of winning an award from RE/MAX for 2010! It is a beautiful cherry wood plaque that reads:

In Appreciation and Recognition
Of Your Outstanding Performance and Achievements In The RE/MAX® Organization.
You Are Truly "Above The Crowd!"®

Out of 30+ agents in my office, I was one of only 9 to receive this honor!

Why am I sharing this wonderful news with you? Because, without you putting your faith and trust in me last year...well, I wouldn't be writing this email at all!

So thank you, thank you, THANK YOU!!!  : )

Jane"

Do you have something you could YAY-ME about to your sphere? I bet you do... want to share some ideas? Or ask for feedback??

RELATED BLOGS
Newsletters - Turning Cheese into SOUL (Part 1)
Newsletters - Turning Cheese into SOUL (Part 2)
Newsletters - the Difference Between "Meaningful" and "Interesting"

Oops. A few weeks ago I promised to finish up a series I was doing on KLT - The Know, Like and Trust Principle which goes something like: "The more people who know you, like you and trust you, the more real estate you'll sell."

In the first two segments of the series I talked about the KNOW and LIKE factors - you can read those here and here.

But this third factor - the TRUST factor is probably the most important. Because even if a whole bunch of people KNOW you and a whole bunch of people LIKE you, they won't hire you or refer you if they don't TRUST you. And yes, it is possible to know and like someone and not fully trust them!

By "TRUST," I'm not referring to whether or not the people who know and like you think you're an honorable sort of guy or gal. If they don't TRUST you from an ethical perspective, well, they probably don't LIKE you much either. I'll assume that's not the case!

What I mean by "trust" is that the people who know you and like you TRUST that you'll do a great job for them and their referrals. That if they refer you to their friends, you won't embarrass them. They TRUST you to make them pleased with and proud of their recommendation.

Bob Burg in his book Endless Referrals tells the story of a dry-cleaning service in his town that is owned by someone he knows... and likes... and trusts personally. But professionally? Nope. He hates it, but the guy is a lousy dry-cleaner and Bob simply can't give him his business or refer him to others, no matter how much he likes him on a personal level. He acknowledges that if the drycleaner just matched the service and quality of his competition, he'd be happy to use and refer them, but once he betrayed Bob's professional "trust" by performing poorly more than once, the potential for a professional relationship was over.

In our real estate businesses, there are two ways we earn professional trust from our spheres of influence.

First, we provide fantabulous real estate service when we are honored with the opportunity to represent someone we know, or someone who is referred to us by someone we know. (Which is by far the best way to build a referral-based business!), and

Second, we remember that, even in our personal lives, we're always on display.

If we give our friends and acquaintances (and even the new people we meet on a daily basis) a reason to think of us as reasonably intelligent, reliable, ethical and competent guys or gals in our personal lives, they'll easily make the leap to assume we're all those things in our real estate lives, as well. Which means... that they'll TRUST us to handle their own precious real estate business AND the business of anyone they know who happens to need real estate service.

So, what's the punch line?

Strive to KNOW lots of people... strive to be LIKED by those lots of people...and always strive to earn the TRUST of those lots of people.

Do these things and you can forget all that nonsense you learned about canned prospecting scripts, pushy closing techniques and uncomfortable stranger-pestering dialogues in your pursuit of business!

RELATED BLOGS:
"Too New to Have Satisfied Past Clients? That's Okay - Just be a Reasonably Competent Human Being!"

"Do You Refer to Your Flaky Friends?"

The KLT Principles: People Buy from Those They Know, Like and Trust, and
The More People Who Know You, Like You and Trust You, the More Real Estate You Will Sell

Last week I wrote about the importance of ensuring that more of the world's people KNOW you if you want to enjoy a consistent stream of real estate business in your pipeline.

Today I'm gonna ramble about the second factor of the KLT Principle - that bit about whether or not those people LIKE you! Because, if a whole bunch of people KNOW you, but most of them don't LIKE you, all that "knowing you" isn't likely to help your business much, is it?

What does "like" mean, though? Does it mean that everyone in your database wants to hear from you every week and would include you on the invitation list to their next dinner party? Not really. Does it mean that they're so passionate about your real estate business that they're constantly singing your praises to anyone who will listen? Probably not (although that would be fantastic!).

No, it's simpler and less high-maintenance than that. To have a database full of people who "like" you simply means that the people who know you smile when they hear from you.  Whether they've heard from you personally (as in a phone call, personal email, birthday card or Facebook comment) or by receiving your latest mass-marketing piece, they see your name or hear your voice and think to themselves "Wow, my day is a little brighter now!"

Inspiring that reaction really isn't hard. It doesn't take a bunch of money or a bunch of time or a bunch of energy. In fact, we might say that it's as much about what you DON'T do in your relationship-building/staying-in-touch efforts as it is about what you DO do!

If you're a generally likeable person (which I'm sure you are!), just be yourself when communicating with the people you know and strive to do it (that is, communicate) on a reasonably-regular basis. Don't put on your real estate SALESperson hat when you reach out; put on your OWN hat and be YOU. Don't do things in the name of self-promotion that would inspire any reaction from you other than that "Wow, my day is a little brighter now!"

So, for example, if it would irritate you to be called once a month by a friend or acquaintance and reminded of their passion for referrals, don't do that to your SOI. If you would roll your eyes at suddenly being on the receiving end of a barrage of marketing postcards or pitchy emailed newsletters, don't do that to your SOI. If you dislike being asked to sponsor or donate or contribute to causes you've never heard of, don't do that to your SOI. If you're tired of receiving mass-forwarded jokes and videos and slideshows, don't do that to your SOI.

I could go on all day, but I think you get the point. Just don't do anything that, if done to you, would make you roll your eyes and be even a little irritated with the person doing it. Because when people are rolling their eyes when they hear from you, they probably aren't thinking how much they LIKE you!

Next up: The third factor of KLT - TRUST!

Excerpted from my soon-to-be-released third book, Prospect with Soul (woo hoo!!)

Is it Mercenary to "Use" Your Sphere of Influence for Business?
I often toss around the phrase "You never know who might lead you to your next $10,000 paycheck."

What I mean by that is that in our business, we get big paychecks we perform. And since most people you're going to meet either own or know someone who owns or wants to own real property, most people you're going to meet can potentially be or introduce you to your next client.

I've always been pretty transparent as to my "mercinariness" about my social life. Before I went into real estate, I didn't have a lot of friends. Didn't bother me at all; I've never been all that socially-inclined and am usually happy to stay home at night and watch Survivor. But when I hung my shiny new real estate license on the wall of my new office, and was made aware that I was going to have to drum up business for myself, it suddenly occurred to me that having more friends might help me do that. 

And I was right. As soon as I had a "reason" to have a social life, I went out and got myself one. And in the process, discovered the joys of having friends, of having plans, of having people in my life who care about me, and I about them.

But yes, there was also joy in having those friends hire me and refer business to me.

Back to the original question: IS it mercenary to intentionally expand your social network so that you can make more money?

Sure it is. But so what? Assuming you're selling real estate in hopes of making money, you have to go get yourself some buyers and sellers. And "use" them to make money from. Whether your clients come from traditional prospecting methods like cold-calling, door-knocking, open-housing or mass-mailing, or from throwing a party, going to lunch or just being pleasant to people, your prospecting efforts are done with the intention of getting business from those efforts.

But here's the kicker.

If you follow the principles of Selling with Soul, you're providing more in value to your clients than they are providing to you in paychecks. You're the best real estate agent you know and are horrified by the thought that anyone you know would hire or refer anyone but you. Not because you need that paycheck or your feelings might be hurt, but because you know you'll do the best job for them. And you'd hate to see anyone you know hire or refer someone who won't do as wonderful a job as you will. That's just not right.

Further, if you're Prospecting with Soul, your promotional efforts with the people you know won't annoy, irritate or bother them a bit. Whatever you do to remind your sphere of influence that you exist will be of value and interest to them, not all about you. It's a win/win.

Hey, you gotta get business from someone, so in that regard, you're "using" everyone who hires you to be their real estate agent. But if you feel in your heart and soul that you're the best thing that could ever happen to your clients, you'll have no qualms about it!

"What's the best way to get my name out there?"

I hear this question a lot. Agents, particularly newer ones, ask it wanting to know how they can best spread the word that they're open for business.

Usually, they're looking for advice on the best places to advertise - should they take out an ad in the newspaper? Issue a press release? Buy a promotional panel on the side of a bus or a magnet for their car? Or maybe they've been offered a great "opportunity" to include their personal brochure in a neighborhood mailer or door-hanging promotion. One guy wanted to know if he should pony up $1000 to advertise on a banner at his health club.

I always ask the same question of these hopeful agents. "What do you expect to accomplish with your investment?"

They always answer: "I want to get my name out there."

Um... Out WHERE? Out there in the universe of people who don't know you, don't care about you and wouldn't dream of remembering your name, much less calling you for real estate service? Seriously?

Would YOU call a total stranger whose face you saw plastered on the side of a bus or smiling out at you from your shopping cart? Would you run screaming for the phone to hire someone who hung a HIRE ME brochure on your door? Do you really care that so-and-so just joined such-and-such firm and is now happily accepting referrals?

Of course not. And even on the off-chance that someone might respond to this sort of thing, the chances are far too slim for someone on a limited budget to risk the expense.

My point is that "getting your name out there" is a concept promoted primarily by the industries who have something to gain by helping you "get your name out there." And they prey on the "young" (i.e. the rookies) and the desperate.

If you're wondering how to "get your name out there," you probably don't have the budget to do it effectively. And that's okay! Getting Your Name Out There is overrated anyway. Focus your efforts (and marketing dollars) closer to home, literally and figuratively. Before you spend a dime on self-promotion-to-strangers, make darn sure everyone you know knows you sell real estate (without pestering them for referrals, of course). Every day, go forth and smile - that is - go out into your world with the sole intention of making others' days brighter.

Don't worry about competing with the heavier-hitters in your market; there's no need. Real estate business comes in one client at a time. When you run into someone who has a real estate need, all you have to worry about is being the Best (Wo)Man for the Job, which has nothing to do with advertising or marketing or branding... it has everything to do with knowing your stuff - and knowing you know your stuff.

THAT's the best way to get your name out there!

After my Soulful Doo-Dads teleseminar a few weeks ago, I was asked a great question by an agent who had attended the show. He asked (very nicely) why I thought reusable grocery bags were cool (aka "soulful"), yet a meat thermometer sent with a personalized magnet with grilling tips was cheesy. He wasn't arguing with me, just curious. After all, I'd made the statement that I believe Doo-Dads should either be representative of the professionalism of the agent (no personalized fly-swatters!) and/or be of true value to the recipient.

"So, JA, tell me - what's the difference? Why do you like one, but not the other?"

My answer? After stumbling around searching for just the right response to clear things up for him, I came up with this little piece of brilliance:  

"I dunno. I just do."

And that answer might actually be good enough. It comes back down to the Golden Rule - to paraphrase:

"Doo-Dad unto others as you would like to be Doo-Dad'ed unto!"

I can't possibly know for sure what my sphere would find useful or valuable (although I can probably accurately guess what they'd find stupid or cheesy). So, perhaps the best I can do is to ask myself what I would like, what I would appreciate, and what I would keep... 

And Doo-Dad (or not) accordingly... 

COMING SOON!

The SWS Listing Analyzer for Expired Listings

Check it Out and Reserve a Copy Here

On Wednesday evening, we did a show in the SWS Virtual Studio about Doo-Dads - y'know, those customized promotional trinkets we hand out to our spheres of influence throughout the year, but especially during the holidays?

During the show, we got into a discussion of what makes a Doo-Dad "soulful" - and by "soulful" I mean a little special, a little unique and likely to make the recipient smile, think of you fondly and hopefully even keep your Doo-Dad. As opposed to some dorky piece of junk that makes him roll his eyes and think the giver of said Doo-Dad is an idiot. Or even barely acknowledge the Doo-Dad because he has ten more just like it from the other real estate agents, financial planners and insurance agents in his life, all of whom desperately want his business (which is obvious from all the I <Heart> Referrals slogans on the Doo-Dads).

And that's the topic of today's blog. No, not referral-begging, but rather, burdening your precious sphere of influence with Doo-Dads they don't want.

What do I mean by "burden?"

Well, when we receive Doo-Dads from strangers, we have no qualms about tossing it into the trash if we don't want it. No muss, no fuss, no angst - Doo-Dad gone and forgotten.

But when we get a Doo-Dad we don't really want from someone we know, we aren't so quick to throw it away. We might hold onto it for awhile, out of respect for that relationship.

Um, yeah, Jennifer - that's the point! I want the recipient of my fancy Doo-Dad to hold onto it - DUH!

Not so fast. Let's think about what's going through his or her mind. This person really doesn't want to keep that Doo-Dad. It's likely just one more thing to find a home for and to collect dust. But his loyalty to you forces him to make a decision that he's going to be uncomfortable with either way. Throw it away and feel guilty or don't throw it away and feel irritated.

That's what I mean by "burden." I don't want my precious SOI spending one second trying to decide whether or not they're willing to hurt my feelings by throwing away that trinket I sent. And I REALLY don't want them to make the decision to throw it away, thus subconsciously relegating me and my service to the round file. <she shudders>

Let me give you an example. A few years back, I seem to remember a particular Doo-Dad making the rounds in early July. It was a little flag on a stick that served no real purpose except to give the real estate agent an excuse to drop it off. There really wasn't anything the recipient could do with the flag except maybe stick it in his pencil holder.

I thought this was the epitome of a burdensome Doo-Dad. First, no one wants to throw away an American flag, especially at such a patriotic time of year! And of course, since it came from a friend, that adds even more fuel to that I-Feel-Guilty fire, should the recipient choose to dispose of it.

So, what's the answer?  Any thoughts? I'll share mine next time!

Had an interesting conversation with a friend of mine the other day. I was telling him about my recent Go-Giver Chronicles and interactions with Bob Burg (co-author of The Go-Giver). My friend mentioned that his first real estate agent helped him find a rental house when he moved to the area, free of charge. Just helped him. No compensation, no contracts, no obligation. Just helpful help.

So, my friend continued, when it came time for him to purchase a home in the area, he called up the agent and hired him to be his buyer agent. His point was that because the agent cheerfully gave of his time in the beginning, he ended up with my friend's business when he had business to give.

I was curious who the agent was; if I knew him or had heard of him, so I asked for the guy's name.

My friend pondered the question. Couldn't come up with a name. John, maybe? He said he'd recognize it if he saw it or heard it, but, darnit, just couldn't remember it right now.

<wheels spin in JA's head>

Obviously, my friend hadn't heard from that agent lately. I asked if he'd ever heard from the agent after the sale and he didn't think he had. That's not surprising... "they" say that the vast majority of agents do a lousy job of staying in touch after a closing and I'm certain that's true.

So, I continued questioning interrogating my friend. I asked if he had heard from the agent, say, two or three times a year for the last five years, would he have been able to recall his name?

He pondered again and said, yes, he would be able to recall the agent's name if he'd heard from him two or three times a year since the sale. But, he said: "Even once a year would have done it." 

So, I asked "What if he'd been in touch every month?" My friend groaned... "That would have annoyed me to the point of not wanting to remember him!"

We moved onto a different real estate-related topic that you'll see rambled about here in a few days, but this conversation validated one of my long-held suspicions about our industry... or rather... one of the industries who SELLS to our industry.

I'll continue this soon... but any thoughts on where I'm going with this?