Developers have sold 85 percent of the condos built in South Florida during the building boom beginning in 2002, according to a report released this week by Bal Harbour-based consultancy Condo Vultures.
The report, which studies condo markets from South Beach to West Palm Beach, found that developers have sold 41,258 condos in the last eight years, with the largest chunk of sales taking place in downtown Miami.
``People are certainly taking advantage of the fact that [condos] are affordable and available both to live in and also to invest in,'' said Leo Zabezhinsky, manager of business development and real estate for the Miami Downtown Development Authority.
While many of the boom-time buyers were speculators , many of today's buyers are investors and vultures, hoping to capitalize on the troubled market by renting out the units.
That explains much of the shift in sales activity taking place between South Beach and downtown Miami, as rental demand is up in places like Brickell and purchase prices are lower in the city than by the ocean, said Peter Zalewski, principal at Condo Vultures.
``An investor comes in, they look in South Beach, and they get sticker shock,'' he said. ``If they want to be on the sand, they go up to Sunny Isles Beach. If they're looking for investment value, new construction, they go to downtown Miami.''
Spurred by bulk buyers and lender takeovers, condo sales in downtown Miami reached 3,675 in 2010, up 57 percent from 2009, according to the report, based on county records. Condo sales in South Beach totaled only 123 last year, up from 107 in 2009. At the current sales pace, it would take about a year to sell out the remaining developer inventory in downtown, and more than a decade to sellthe 1,300 new condos in South Beach.
Areas like downtown Fort Lauderdale benefitted from good timing, as developers completed most of their condo projects before their housing market crashed. There are only 160 new condos yet-to-sell in downtown Fort Lauderdale, where more than 5,000 units were built during the boom.
Condo Vultures focused its report on seven housing markets in Miami-Dade, Broward and Palm Beach counties, concentrating on areas east of I-95 and near bodies of water. During the 8-year span covered in the report, 244 new condo projects were created in those markets, for a total of nearly 50,000 units.
The epicenter of the building, sales and developer default activity has been in downtown Miami and Brickell, where more condo units were built in the 2000s than in the previous four decades combined.
About 18,675 new condos have sold in the downtown area in the last 8 years, totaling about 84 percent of the inventory, according to the report, based on county records.
Developers ``built 23,000 condos, and when over 80 percent have been sold and occupied, clearly it tells you that this is where people want to live and invest,'' said Zabezhinsky. ``The condos have single handedly helped lead the transformation of downtown Miami into a 24/7 global city.''
Condo inventory detailed in new report
By TOLUSE OLORUNNIPA
tolorunnipa@MiamiHerald.com
Read more: http://www.miamiherald.com/2011/01/27/v-print/2036345/condo-inventory-detailed-in-new.html#ixzz1CduN9LdI
Monday, January 31, 2011
Deadly Sins Of Real Estate Prospecting
The Seven Deadly Sins Of Real Estate Prospecting
Real estate prospecting is an extremely vital component in developing your real estate brokerage business. Yet so many agents make simple mistakes that take them away from doing the prospecting that will have them earn and get paid the amounts of money they want to make each and every year. Keeping this in mind these are what I refer to as The 7 Deadly Sins of Real Estate Prospecting:
Not Prospecting Enough
Prospecting is a great way for you to find the leads that will become your successfully closed transactions in the weeks and months ahead. If you don't do what will have you find the best people to work with in your territory your competitors will find these people and successfully close transactions with them instead. Many, many people will be buying, selling, and leasing property in your territory in the months ahead. You have to be willing to do what will have you find these people before your competitors begin forming solid relationships with them.
Prospecting With a Poor Attitude
Do you ever notice how sometimes a person's attitude can change your own attitude? In addition to this have you ever noticed how quite often what you expect to happen does happen? People respond to you based upon what you are putting out to them. When you have a great, positive, fun-loving attitude people will like talking to you more. And when your prospects need a real estate agent they are more likely to remember the agent who made the best impression on them. Make that agent be you.
When you begin your prospecting sessions coming from a positive attitude and an expectation that you are definitely going to uncover some solid leads, you will often prove yourself to be 100% right.
Not Following-Up With Prospects
If you've ever uncovered leads from prospecting and weeks or months later found out that these same people listed their property or completed a transaction with another agent, you know exactly what I'm talking about here. Doing your prospecting is only part of the formula for success in your real estate business. Following-up on the leads you've uncovered and enrolling your prospects in working with you exclusively is really what being a successful real estate agent is all about.
Prospecting the Wrong People
Are you prospecting the people you ideally want to be working with? Are you prospecting in the geographical area that has the properties you really want be working on? Sometimes agents get to the point where they now want to work on transactions that will earn them more commission dollars per transaction than what they've normally worked on in the past. If this is true for you make sure you are prospecting the people who will be closing the exact kind of transactions you want to be working on.
Not Asking Your Prospects for Referrals
When you are prospecting you will maximize your results when you ask your prospects who they know who may be interested in buying, selling, or leasing in the near future. If any of the people you are prospecting right now aren't looking to do anything themselves you might as well ask them who else they know who may be looking to buy, sell, or lease. And if you have the great attitude we talked about above you are much more likely to have these people want to refer you to someone. Remember...when you're prospecting you're not just prospecting the person you're speaking with in the moment. When you ask the right questions you can also begin prospecting everyone else they know.
Not Continually Mailing to Your Prospects
Mailing to your prospects can literally be considered as "prospecting in print." If you have a territory with hundreds or thousands of prospects that you'd like to work with there's no way that you can possibly talk to each and every one of these people every single month. Mailing to them, though, allows you to get their attention and remind them of who you are every single month. You just have to be committed to doing it. The more you mail the more you increase the probability that one of your prospects will be looking to buy, sell, or lease right around the time that one of your mailers arrives with your name and phone number on it staring them right in the face.
Discontinuing Your Prospecting Once You Generate Activity
This is one of the biggest, most common mistakes that many agents make. To be the best you can be in your real estate career you need to be prospecting constantly. As you already know there's a time lag from the moment you identify a prospect to the time you successfully close a transaction with them. If you get busy with activity and stop or substantially reduce your prospecting you will most definitely experience a gap in your incoming commissions in the weeks and months ahead. Don't delude yourself about this. Know with certainty that whenever you slow down your rate of prospecting you will substantially decrease your income for the year.
by Jim Gillespie
From http://realtytimes.com/rtpages/20040128_deadlysins.htm
Saturday, January 29, 2011
Killer Lead Generation Ideas
Killer Lead Generation Ideas: How to Turn the 'Faucet' on Full Blast
Picture in your mind a bucket—but not an ordinary bucket. Think of this bucket as one you must keep full—full of leads so that your real estate business doesn't dry up.
The good news: Directly above this bucket are 10 faucets. We can call them "lead faucets." The bad news: Many Realtors don't use them.
That's unfortunate, because each lead faucet has powerful potential. And just a little tinkering can mean a steady gush of leads that will keep your bucket filled to the brim.
Let's look at these 10 'faucets' and how to create a fire hose-strength flow.
Past clients—Vital because their referrals come with an implied endorsement of your services. Put past clients into two categories: A – Those who've given you referrals, and B – Those who haven't given you referrals. Set a reminder system to stay in touch with each regularly with cards, calls, small gifts, etc.
Internet—A must if you plan to stay in business. Put your focus on responding to the site visitors. Can you respond in 15 minutes? If not, fix it so you can.
Interactive Voice Response (IVR)—The hotline numbers buyers can call to learn about properties. Again, ignore technology at your peril. (Incidentally, I have a client who landed 11,298 calls from his hotline number in 2005. His secret? An irresistible call to action.)
Sphere of Influence (SOI)—The more you think about your SOI (basically your family, friends and acquaintances) the larger it gets. That "acquaintances" category, for example, should include everyone you've met. Think how you interact with those you meet casually—develop the effective 10-second "elevator" speech for them.
Signs—Revisit your signs. How can you make them more effective with more eye-catching color and contrast? Do they include an IVR hotline number?
Direct mail—It can be expensive, so find out what's already being sent in the area you're considering. The two keys here are differentiation—will your mailer stand out and will the offer and the call to action actually produce desired results?
Broadcast radio and TV ads—Yes, some may be too expensive. But don't rule it out completely. Both radio and TV have massive reach and there are deals out there. The key is, if you do go with these mediums, use them regularly. Frequency beats reach—so don't buy for just a one-shot deal.
Print ads—Give them a fresh and thorough inspection. What's keeping them from really grabbing your target audience by the collar? Often, they lack contrast and that prevents them from being noticed in the first place. Don't forget to add muscle to your call to action.
Prospecting—Absolutely essential. It's one of just four real dollar-producing activities a Realtor can do. The trick is to schedule time everyday to do it—usually in the morning because it's the most controllable time of the day.
Networking—Choose where you network carefully. There are literally thousands and thousands of groups out there. Be strategic by examining what potential business they bring to the table.
Leads You Need
Published on Wednesday, August 26, 2009, 4:33 PM Last Update: 1 year(s) ago by Bob Corcoran
Prospecting
Prospecting: The Efficient Lead Generator
by Dirk Zeller
Prospecting is the most efficient lead generator ever created. All it takes is time and a little bit of skill. You don't need large amounts of money to prospect well. When I entered real estate sales, prospecting was my only option, since I was undercapitalized in starting my business (translation: broke!). Developing and implementing a large marketing and direct mailing campaign was out of the question. I was forced to prospect for business.
Looking back now, I would not have traded my broke position in the beginning with no capital to invest for anything. It freed me to learn a primary skill of every salesperson's success early in my career. There is no method of lead generation that deals so well with the law of cause and effect. The law states certain causes create certain effects. Making phone calls and talking to people creates leads in bunches ... period.
We really only have two types of people we can call. Everyone in the world fits into these two neat categories. The categories are people we know and people we don't know. Those are the only two options. The question is which of these categories is bigger? I'll give you a minute to think about it. The people we don't know is larger. There are more potential prospects in that group. The group of people we know is smaller, but the odds of us doing business with them are greater because we are an insider, not an outsider like we are with people we don't know.
Most agents are searching for the "magic pill" formula or solution to avoid prospecting and have a Champion Agent's business. They are hoping and praying that their marketplace runs contrary to the laws of success. We have to plant seeds before we can harvest. If you look at prospecting as merely planting seeds, that may help. There is no harvest without sowing seeds.
In ancient scripture, there is a parable called The Parable of the Sower. The story tells about how seeds must be sown or planted. If you just cast them to the wind, some seed will land on the road and be trampled or eaten by the birds. Other seed falls on rocky soil and sprouts, but the seed has no water and withers. Still others fall among thorns, and the thorns grow and choked the young plants out.
Finally, some falls on good soil and grows and produced a crop 100 times as great as the seed. In our prospecting, we will encounter the road and get trampled and beaten up. We will fall on rocky soil where things look promising but there is no depth to the prospect or even our strategy and technique, so our results will quickly wither. We will cast the seed of prospecting and get choked out by the negativity of others. The good news is some of the seeds of prospecting will land in good soil and will bring you wealth, success, and happiness exponentially, compared to the amount of seed planted - a crop that is 100 times as great.
Anyone who approaches you by saying, in effect, "I have taken out the road, rocky soil, and thorns and left you only good soil", you must question. That is, in effect, what most peddlers of the "magic pill" marketing gimmicks without some prospecting are offering. "Just send my stuff out in the world, and watch the flood of success come your way." It doesn't work that way in life, and we all know it! My best advice is if it seems too good to be true; it probably is.
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Dirk Zeller is a sought out speaker, celebrated author and CEO of Real Estate Champions. His company trains more than 350,000 Agents worldwide each year through live events, online training, self-study programs, and newsletters. The Real Estate community has embraced and praised his six best-selling books; Your First Year in Real Estate, Success as a Real Estate Agent for Dummies®, The Champion Real Estate Agent, The Champion Real Estate Team, Telephone Sales for Dummies®, Successful Time Management for Dummies®, and over 300 articles in print. To learn more regarding this article, please visit www.realestatechampions.com.
Friday, January 28, 2011
Four Effective Keys to Contacting Preforeclosures
According to the leading online marketplace for foreclosures, RealtyTrac, foreclosure listings have grown by as much as 39 percent in the last year. And in 2011, foreclosures are expected to reach 1.2 million. As you can see the inventory of foreclosures is rising, which means a good opportunity for you.
The most important opportunity for you is to contact these preforeclosure owners. However, this is also the point where many real estate agents and investors often struggle. Here are four keys to make this an effortless campaign.
Some real estate agents and investors mail letters to all of the preforeclosure owners in their cities. This blanket approach is not effective. The reason for this is simple: it’s virtually impossible to become a smart real estate agent or investor in several areas unless you have unlimited time and resources. Instead, think quality rather than quantity. For example, focus on identifying several zip codes that you are interested in working, and eliminate all those properties not in those zip codes.
It is important that you become very familiar with the real estate market in the few areas that you target. This will ensure that you make informed decisions on which preforeclosure properties to approach. As you become familiar with an area, you will know if new road construction is planned, for example, which may negatively impact an investment. Or, you will know if commercial rezoning has been approved close to that area.
Being on top of local issues like these can make or break a purchase.
Also, becoming very familiar with a few areas will also give you insight into when a preforeclosure on www.ipreforeclosures.com is a “diamond in the rough.” You may be able to find a gem with a high resale value, for example, if a school district changes its boundaries to include homes in a new neighborhood.
Once you have identified homes in a high resale area, it’s best to contact the preforeclosure owners by mail. You may expect to send 1,000 letters a year to preforeclosure owners. But if you close 10 deals a year that net $15,000 to $25,000 per deal, you will have created a very successful business for yourself.
It is important that your letters are professionally written. If you need to pay an experienced writer to compose your letters, it’s worth it. Remember this is part of your business. Any small investment you make in it will help guarantee its success.
Don’t be discouraged if you don’t hear from anyone after making contact with owners by mail. Most preforeclosure owners are in a state of denial about losing their homes. For this reason, you should contact them on a regular basis.
For best results, contact your database of preforeclosure owners once every week or every other week with original letters—no form letters or postcards. Each letter should reference the previous letter and should be slightly different. All letters should be individually signed and mailed with a first-class postage stamp.
In addition, purchase a stamp that says, “ADDRESS SERVICE REQUESTED” and place it one-quarter of an inch below your return address. This way, if an owner has moved the post office will give you the property owner’s current address.
People seem to be more receptive to mail received on Saturday. Therefore, mail your letters on Thursday so they arrive on the weekend.
And remember this: letters should appeal to the emotions of the preforeclosure homeowner because this is a difficult time for them. Accordingly, your stance should be one of wanting to help. Make it clear how you can assist them, including offering cash for their equity, finding them a new place to live and keeping them from having a foreclosure on their credit history — something that could make it extremely difficult to qualify for a home loan for up to seven years.
The main goal is to keep your name and phone number in front of the troubled homeowner as much as possible so that when they are ready to ask for help, they will contact you.
In addition to pursuing foreclosures, you could also establish some ads that would bring the foreclosures to you. There may be a higher cost, but the quality will be supreme, because these people are looking for help and have sought you out. The following message, on a flier, in the Classified section or in a homes magazine would be sufficient and to the point:
Don’t lose your home to foreclosure.
Learn your options. Preserve your credit.
For a Free Recorded Message 24 Hours a Day
Call 1-800-960-2291
Enter Extension #XXXX
Your recording on the extension could be as simple as:
“Hello, my name is
Like I mentioned above, you could include this in flyers and post them in various locations throughout your community as well as create signs with the above message and your sign riders with the toll-free number above. Simply get permission to place them in high-traffic areas
Thursday, January 27, 2011
30 Can't-Miss Home Staging Tips
30 Can't-Miss Home Staging Tips
Designed to Sell designer Lisa LaPorta shares some of her best home staging tips.
Grimy bathroom walls are a major red flag to buyers.
Here is an easy way to get rid of surface mold: Mix a spray bottle with one part water and one part bleach. Just spray it on the wall, and watch the mold disappear. Give it a fresh coat of paint, and your grimy bathroom will go from red flag to red-hot.
Don't replace a yucky shower door: Just scour it.
A grimy glass shower door can really wash out your sale. Instead of replacing it, clean it with a mixture of one part muriatic acid and about 10 parts water. Scrub with steel wool. After wiping it down, reinstall the door and you'll have a shower that'll help you clean up at the open house.
Avoid dated tile by painting.
Bathrooms sell houses, but dated tile in a bathroom doesn't. A low-cost alternative to replacing the tile is to use paint. First coat the tiles with a high-adhesion primer. Next, brush on a special ceramic epoxy covering. For a fraction of the cost of new tile, you will have an up-to-date bathroom that brings in big bucks.
Pedestal sinks are a big hit with buyers.
They show off square footage in small bathrooms beautifully. First, your old vanity has to go. Next, just hook up your new sink, and your bathroom will have dramatic appeal that brings in big bucks. Plus, buyers will see how much floor space your bathroom has.
A master bedroom should appeal to both sexes.
When you are selling, your master bedroom should appeal to buyers of both sexes. Get rid of features that seem too gender-specific. Paint the walls a neutral color, and choose bedding that matches. Then accessorize with items that complement the overall color scheme.
Do you have an overpowering brick fireplace that sticks out like a sore thumb?
Here's an easy way to tone it down with paint. Use a rag or brush to rub a light coat of paint on the bricks, one at a time. This will give them a new tone without covering them completely. And, if you use a paint color that matches the walls, your fireplace will go from sticking out to standing out.
Updating an old fireplace screen is a cheap (and quick) fix.
After removing the screen and wiping it down to get rid of the dust, mask off the windows so you won't get paint on them. Then, using a can of heat-resistant spray paint, give the screen a facelift. Hold the can about 18 inches away, and use long, even strokes. For less than $5, you will have a fireplace screen that'll keep your sale from going up in smoke.
Turn an unattractive fireplace into a selling feature.
Need to turn an unattractive fireplace into a selling feature? First, that dated brass screen has got to go. Next, give the fireplace a good cleaning, scrubbing it with soap and water. Then, using a stone color enhancer, polish the bricks to make them shine. In no time you will have a fireplace that will turn your house into the hottest property on the block.
Stain dated kitchen cabinets instead of replacing them.
Dated kitchen cabinets can be a big turnoff to potential buyers. Instead of paying big bucks to replace them, just stain them. First, apply the stain in even strokes, going with the grain of the wood. Add some stylish hardware, and your kitchen will have the up-to-date look that buyers love, for less than $200.
Stainless-steel appliances are definitely in with buyers.
Instead of buying a new dishwasher, here is a low-cost way to resurface an old one: First, remove the front panels, and clean them. Next, apply a stainless-steel stick-on covering, and cut it to size. For just $20 your dishwasher will go from outdated to ultra-modern.
Fill existing hardware holes instead of making new, unsightly ones.
Removing old kitchen hardware can leave your cabinets with stripped-out holes. Here is a trick to reusing the existing ones.
First, dip a toothpick in glue and place it in the stripped hole. Cut off the excess piece. Once the glue dries, you'll be ready to put in the hardware that buyers love.
Save money on granite countertops.
Granite countertops are a huge selling feature, but they can be expensive. Here are a few ways to save on this investment:
First, do the demo yourself. Also, ask the vendor for remnants from previous projects. Remember, any money you spend will definitely be returned in the value these beautiful counters add to your kitchen.
New kitchen appliances bring high returns from sellers.
Studies show that new kitchen appliances bring high returns from sellers, so get rid of old appliances that make the rest of the kitchen look dated. Once you install the new equipment, it will scream "new kitchen," and you will see that spending a little money will make you even more.
Need to dress up a window but don't want to shell out big bucks for window treatments?
Here's a trick: Use place mats. First, apply a hook-and-loop fastener to the place mats and attach them in a row to a basic curtain rod. Now that the place mats are attached to the curtain rods, pin them together at the bottom, and you'll have a stylish valance that costs about $12.
Adding drama to old hardwood flooring is easier than you might think.
First, isolate damaged boards, cut them out and replace them with new pieces. Rent a sander from a local hardware store, and give the floor a good sanding. The last step is to stain the boards with a rich color, and watch your floor go from drab to dramatic in no time.
Buyers love built-in bookshelves.
There's a fine line between filling them with clutter and staging them to sell. The trick is to arrange neutral items in clusters. Make sure that no single accessory stands out too much. That way, you'll show off your attractive built-ins, and not your personal belongings. Curb appeal is vital to attracting buyers.
Here is how to stop traffic using color. First, with two tones of paint, add a faux finish to any corner keystones. Next, bring out the color of walkway pavers using a stone sealer. Plant flowers in bloom, and you'll have buyers swarming like bees to your front door.
A nice outdoor deck can be a big selling feature, but an old one is a major liability.
To give your outdoor space new life, first sand the wood. Cover it with a light-colored stain instead of paint to give it a rustic, grainy look. Furnish it for entertaining, and watch your open house turn into a party.
Breathe new life into a worn patio.
Do you have a red-brick patio surface that needs to be freshened up? Here is an easy way to give it new life with paint. First, roll a light coat of paint onto the bricks. Next, lightly spray them with water and then dab them before they dry to give them an outdoor look. When you are done, you will have a patio that looks fresh and reels in buyers.
Staging rooms to show off their true potential is essential when selling your home.
Clear out clutter or other personal items that will distract buyers. Paint the walls a neutral tone, and furnish the space to show off how functional it is. When buyers come through and imagine themselves there, you can bet an offer isn't far behind.
A shabby wood-panel wall is not a strong selling point.
Instead of ripping it out, cover it up. Use wood filler to carefully fill in all the cracks between the panels. Then, use a sponge to wipe away the excess filler. Once it's dry, paint the room. You'll see an unattractive wall go from standing out to blending in.
Use tape outlines on the floor instead of actually moving furniture around.
Rearranging a room to stage it for your open house? Here is a tip to save time and effort: Instead of lugging the heavy furniture around the room to see what feels best, put outlines on the floor with painter's tape. Arrange the room according to your outlines, and save your energy for counting offers.
Vinyl tile is an inexpensive way to update your home.
Laying vinyl tile is an inexpensive way to update your home, but there's a right way and a wrong way to do it. You need to avoid laying patterns that look too perfect. Instead, make sure to switch up the direction and placement of the tiles to mix the tones. That way, you end up with a floor that has a natural feel. Let the sun shine in.
Buyers love light and airy living rooms, but dark and dingy isn't on their list. Open up your window shades to let some light in. Cheat some sunshine with a light-colored paint and lots of artificial lighting. You can never have too many lamps. Last, arrange the space with lightly colored furniture, and you'll have a living room that brightens your chances of a sale.
Stage rooms with one purpose so buyers will know what it is.
Potential buyers are confused by extra rooms that have a mishmash of uses. To avoid this problem, first clear away clutter and excess furniture. Paint the walls a neutral tone and then furnish the room with a desk to stage it as a home office in which buyers will want to get down to business.
Unpleasant pet odors won't win over buyers.
We all love our pets, but unpleasant pet odors can make a negative first impression. Be sure to get rid of old carpet that can trap offensive smells. Replace it with fresh new carpet in a neutral color. Plus, if you paint the walls to match, your living room will look bigger. It'll go from designed to smell to designed to sell.
Pack up unnecessary items and furniture before you show the house.
An overpacked living room is a red flag to buyers that your home lacks storage space. Pack up unneccesary items and furniture, and move items to your garage or a nearby storage facility. Clear the way for a sale by letting buyers see your square footage, not your personal belongings.
Storage space sells!
Potential buyers love homes that have lots of storage space. Since they will open your closets, it's a good idea to clear out unnecessary clutter, and organize your shelves to show off how much storage you really have. Plus, it gives you a chance to start packing, as you will definitely be moving once buyers see all that closet space.
Create a nice flow in your rooms.
Buyers are attracted to homes that have a good flow. You can create circulation by replacing square or rectangular dining tables with round ones. Cutting the corners adds room to this maneuver and creates a spinoff effect that adds flow to your home — cash flow, that is.
Create a better flow in the house by starting with the floor.
Want to create better flow in your house? Start with the floor. Join two rooms together by using the most cost-efficient material in the book: vinyl tile. First, use a snap-line to create a center point between the two rooms. Next, the fun part: Peel and stick the new vinyl tile down, and watch your kitchen and dining room go from old to sold!
http://www.hgtv.com/real-estate/30-cant-miss-staging-tips/index.html
HOW TO MOTIVATED YOUR SPHERE OF INFLUENCE
The following tips will enable you to motivate your sphere of influence to refer to you easily and effortlessly.
Tip 1: Have a script so you know what to say
What you decide to say may vary from person to person. For instance, the way you talk to a close friend may be quite different from the way you talk to a distant acquaintance.
There is no one formula of what to say. However, it is very helpful to have something to offer when you call. One idea that many of my clients have found helpful is to call your sphere of influence and offer to be a referral source for them.
In other words, let them know that you have plenty of connections to people who could help them. For example, you know many painters, electricians, plumbers, etc. and your sphere of influence should know that if they need any names and phone numbers, they should call you and you will be happy to provide a referral source for them.
Tip 2: Think of yourself as being “the giver”
Most of us love to be the giver. We know we will be well-received and people will like us. We also know that “giving” leads to more business.
Before you pick up the phone to call your sphere of influence, ask yourself: “what can I give to them?” One way that you could be of service to them is to offer to be a cross referral partner.
If they have their own business, ask them how their business is doing. Ask them how you could help them at their business. Ask them what kind of referrals they would like to receive. Let them know that you will do your best to send referrals to them. At the end of the conversation, you can say something like, “when you hear of anyone who’s interested in buying or selling a home, please call me with their name and number. If it’s okay with them, I will call them and make sure that their real estate needs are being taken care of.”
Tip 3: Send something of value each month
What kind of valuable gift should you send? It used to be that sending newsletters was a hot item. However, most people have gotten too busy to read a newsletter.
The selection that works the best is a colorful postcard that gives the events happening in their area. Their sphere of influence is likely to put that postcard on the refrigerator and refer to it often.
Of course, next to the list of events happening in the area is your photo, your phone number and your tag line such as “relax and let me run the extra mile to fulfill your business needs.”
Not only will you start to enter their stream of consciousness, they start to associate positive ideas with you:
-You are associated with happy events in their area,
-You are associated with brilliant bright, happy colors in the postcard,
-Your face smiles at them every time they go to the refrigerator.
Do you think they are more likely to remember you the next time they have a need for your service?
Tip 4: Don’t be afraid to call them too often
As long as you have a good reason to call, your sphere of influence will be happy to hear from you. Trust your own gut instinct about how often you should call. Many real estate gurus suggest calling people in your sphere of influence about once a month. You may choose to do that with your “A list,” the people most likely to refer to you.
Since you are sending an item of value each month, you can always ask your sphere of influence if they received your postcard. You can then follow that with, “so what event are you going to?”
Tip 5: Assume the positive
Simply assume that your sphere of influence will be happy to hear from you. Why wouldn’t they be? They are receiving a wonderful colorful, informative postcard from you each month, then you are calling and offering them something, and you are conditioning them to want to hear from you.
Assume that you have something valuable to offer- your friendship and your expertise- and people want to hear from you.
Tip 6: Be excited about your business
Remember, “desperation does not sell,” but “excitement” does. No matter what the current condition of your business, always say something like, “I am so excited about my business. I get to meet such wonderful people and I’m really in an expansion phase of my business. If you want to help out, just send people my way, I will be happy to help them.”
Tip 7: Use the Law of Attraction
To successfully use the Law of Attraction, you need to be clear about what you want. What do you want? Do you want your sphere of influence to send you several clients a month? If so, then set your intention, “I am now in the process of attracting several new clients from my sphere of influence each month.”
Do you have any opposing beliefs that you need to clear? The Law of Attraction cannot give you what you want if you have any beliefs that will oppose your desired outcome.
For example, if you want to attract an abundance of prosperity, don’t focus on beliefs such as:
-I don’t deserve to have a lot of money
-It’s selfish to want more than I have
-Money is the root of all evil
-Money can’t buy me happiness
-Rich people are usually not honest.
If you have any of the above beliefs, those are called “opposing beliefs.” Can you see that you could be doing all the right activities with your sphere of influence, but if you had opposing beliefs like these, you would not be attracting the clients and the income you want?
To get the Law of Attraction to work for you, you need to identify these old self limiting beliefs, release them and install empowered beliefs.
Here are some examples of empowered beliefs that will help you create the income you want:
-I do deserve an abundance of prosperity.
-It’s okay for me to be grateful for what I have and still want more.
-Money is neutral and can be used for good or evil.
-Money can’t buy me happiness, but I can create a better life for myself and people around me by being prosperous.
-Some people are honest and some are not. It has no relationship to whether or not they have money.
Practice repeating your empowered beliefs frequently and train your mind to focus on what you “want,” not on what you “don’t want.” If you find yourself dwelling on thoughts of scarcity, like “not enough money,” switch your focus and ask yourself, “so what do I want?” Start to notice yourself becoming more positive and attracting more of what you want.
Dr. Maya Bailey, author of Law of Attraction for Real Estate Professionals, integrates 20 years of experience as a psychologist and 12 years as a business coach with her expertise in the Law of Attraction. Get Bailey’s free report, 7 Simple Strategies For More Clients in 90 Days, by visiting www.90DaystoMoreClients.com [2].
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com [3].
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