Module 1

Mindset, Marketing, Positioning & Transaction Fees

Overview

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Today’s discussion

1. New Way of Real Estate2. Do the opposite3. Money hang ups4. Mindset – words = influence5. Positioning6. BONUS: Implementation $ this week. 2

Today’s discussion

1. New Way of Real Estate2. Do the opposite3. Money hang ups4. Mindset – words = influence5. Positioning6. BONUS: Implementation $ this week. 3

New Way Of Real Estate

• 100 years of a messed up system• Attorneys, Stock Broker• Middlemen• Barriers to entry• Gate Keepers with the secrets to profits

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Doing the opposite

• Agent that is not positioned is doing……….• Work ethic, Schedule, Hours open, Appt’s • If you are doing the same thing as everyone else,

then you are worth the same. If you look, walk and talk the same, then why would anyone ever think they would need to pay you any differently……

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Is it LEGAL ?Doing the opposite

• Anti trust laws• B: Monopolizing trade a felony; penalty

• guilty of a felony, • punished by fine not exceeding $10,000,000 if a corporation, or, if

any other person, $350,000, or by imprisonment not exceeding three years, or

• by BOTH

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Doing the opposite

• Cost will only be an issue in the absence of value• You wouldn’t dream of doing business with

anyone without building in this fee.• If you type it into the paperwork, it has greater

feeling of professionalism and you are less likely to get objections on it.

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Money Hang-ups

• If I needed a hair cut. How much could I pay ?• If I need a mechanic – how much could I pay ?• If I need a painter – How much could I pay ?• If I need a doctor – How much could I pay ?• If I need an lawyer – How much could I pay ?

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Getting Over Your Money Hang-ups

• Agents will say that we should not be paid more than offered …

• essentially that we are commodities and have no right. • At the same time a table full of agents will have just

paid $1 for a soda that costs 2 cents to make and another 2 cents to can – they have no problem with this or have a Starbucks in front of them that cost $5 for coffee they could come close to making on their own for 25 cents.

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Money Hang-up’s Cont’d

• Go to a restaurant and you pay a premium for an experience. Hamburger rarely goes from 99 cents to $15 …. you are paying for the environment, service and presentation mainly.

• I have no issues with the restaurant charging these fees – they offer an experience and service … just like you!

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Money Hang-ups from the industry

• Review Articles about Compensation

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Getting over your money hang-ups

• If I was an employee in a sales company, and the guideline was that my company charged $5.00 for a cup of coffee, how would I feel ? What if they charged $6.00 what about $7.00 is there a point at which it’s too much ? How do you know when it’s too much ???

• REALTOR’S are humans and like all humans, they have comfort zones. If you are an agent that specialized in the Luxury end of the market, then you might spend a lot of money to market and sell homes. Who’s money should that be ?.....

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Getting over your money hang-ups

• If you come from a blue-collar background, then you’re probably not very comfortable asking for a marketing budget when selling homes but it’s really critical that you take a few minutes and write out your beliefs about from an awareness standpoint because as we move through this program, it’s something you will need to address within yourself and with your team.

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Questions: a few Money Questions

• What is the most I should be paid per hour ?• What is the most that anyone should be paid ?• Should everyone be paid the same in real estate ?• What is the most per hour I’ve ever been paid anywhere ?• How much money do I need to make, to make a profit ?• Is there a reasonable amount of profit that is ok to make ?

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Money Hang-ups

• Doctors and lawyers used to go to school for 6 –12 years and make $350,000 … now many if not most doctors and lawyers earn far less than $100,000

• One of the biggest factors limiting the profit of agents today is the lack of the ability to persuade another person to take action.

• The first thing to making loads of money and profit is to develop a healthy mindset and belief about persuasion, real estate sales and profits!

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Money Hang-ups

• If you don’t value yourself and what you offer very highly, how can anyone else?

• How is it possible for some agents in real estate to sell more than me? Profit more than me?

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Mindset Words = Influence

• How important or powerful are your words ?• MY WORDS CAN MAKE ME RICH!• Highest paid people in our society - Authors, talk

show hosts, TV personalities = they all know that their words make them rich

• You are a word merchant.

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Mindset Words = Influence

• You can offer EXACTLY the same products and services as another agent, but the other agent could be 10 times more successful than you are? How is that? Better words!

• Nothing to do with grammar, syntax, spelling or punctuation. It has to do with moving people, with motivating people to take action, and bonding with people.

• Hard Truth – If you are not a highly profitable agent, it is most likely because your words are not good enough.

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Mindset Words = Influence

• You can be good most of the time – but it is the weak points of your scripts and presentation that turn prospects off and it is the weak points they remember.

• If you’re not rich it is because your words are not rich …. The words you use to describe your services are not persuasive enough.

• Change your words and you will change your life.

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Mindset Words = Influence

• Everyone uses scripts – use of organized thought patterns and organized words. The alternative is unorganized words and winging it.

• Mark Twain “The difference between the right word and the wrong word is the difference between lightning and a lightning bug.”

• Every great communicator uses scripts – Jay Leno – Barack Obama – Bill Clinton – Ronald Regan … even teleprompters

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Mindset Words = Influence

• Best investment you can make is to invest time in scripting and practicing scripts.

• If you are down and depressed about your profit or sales it is probably because your phone and presentation scripts are not good enough.

• Whoever has the best words – wins!!!!

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Mindset Words = Influence

• You need to look at every word and phrase. Get rid of lazy or ineffective words. A fair percentage of what salespeople say to prospects is unnecessary, non-persuasive, or counterproductive.

• You can never be too powerful in your sales presentations unless every single person signs.

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Mindset Words = Influence

• If you are afraid or unprepared – you will not get on the phone or get in front of enough people.

• AWARENESS is the first step to growth and profits! First need to be aware that others are doing it.

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SIX UNIVERSAL PRINCIPLES OF SOCIAL INFLUENCE – ROBERT CIALDINI

1. reciprocation – we feel obligated to return favors performed for us

2. authority – we look to experts to show us the way

3. commitment / consistency – we want to act consistently with our commitments and values

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SIX UNIVERSAL PRINCIPLES OF SOCIAL INFLUENCE – ROBERT CIALDINI

4. scarcity – the less available the resource, the more we want it5. liking – the more we like people, the more we want to say yes to them6. social proof – we look to what others do to guide our behavior

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Positioning

• Bail bondsman get’s calls during the day about his rates and at 2am, the calls are…. GET ME OUTTA HERE !!!

• You are just one decision away from a breakthrough in your business !

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Positioning

1. What message are you sending ? • Stage yourself – what does your wardrobe say

before you meet your client ? • Marketing, Image & Reputation…

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Positioning

2. What are others saying about you and do your clients know it….

• What other people say about you is 10x more powerful that what you say about yourself…

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Positioning

• 3. Be the expert• Position yourself so that your consultation and opinion

are valued and respected not just FREE ADVICE.• The more likely they are to value your service when it

comes down to decision-making.• They give you referrals • Less likely to shop you

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Positioning

• 4. Make them come to you• CITO – don’t have an office… WHY NOT ? It’s no

wonder that you’re not getting paid.• Stand out and deliver…. Do everything possible to be

different..• The least important person travels….• Environment is key

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Positioning

• 5. Charge a premium and get the commitment up-front

• Wealthy are paid in advance

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Positioning

• 6. Do you want a job or do you want a business ?

• Trading time for money… when do you run out of time?

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Positioning

• 7. Go BIG !!!! Rn or Chief of Staff• LEVERAGE or open lockboxes for the rest of your

life…..• BUT leveraging yourself BEFORE you are

positioned for profits is R E Suicide!!!• Salespeople are unemployed every morning and

have to get up and go make a sale…..33

Implementation this week

• Implementation BONUS • $144.00 Transaction Compliance Fee• Not like other programs – not a big binder and

asked to figure it all out.• There is a world of difference between reading

about a skill and actually acquiring that SKILL

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Implementation this week

• Could read what Tiger Woods wrote and not shoot a 70 … could read what Michael Jordan wrote and not dunk … could read what Will Smith wrote and not be a great actor.

• Reading is great but you need to have interaction, application and coaching in order to change behavior!

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Implementation this week

• When things get tough agents spend 38% less time in lead generation – more time in saving deals and feeling sorry for themselves

• Trapeze – can’t hold both sides of the rope – either you are on the program or you’re out - this is not a swing – start dreaming again

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Implementation this week

• It’s great that this is not easy – if it were easy everyone would be doing it

• Close the sale at the appointment - 95% of all seminar sales take place at the event – almost everyone that says they will get involved later doesn’t!

• If you wanted to learn how to fly – would you learn from a pilot or a BMX champion?

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Implementation this week

• Level One - $144 Transaction & Compliance Fee – Paid at closing - obviously only if it closes - no

close - no fee• Credit back if you don’t perform if needed to

comfort client

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Implementation this week

• Seller: “right here we have $144.00 ‘transaction and compliance fee’ that is part of your closing costs.”

• Simpler, the better• Must give ‘your fee’ a name

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• Introduce the drop close• Credit it back at closing, if they’re not totally

thrilled with the service they receive• Next module we’ll show you how this might

appear on your listing paperwork….

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What we covered in Module 1

1. New Way of Real Estate2. Do the opposite3. Money hang ups4. Mindset – words = influence5. Positioning6. BONUS: Implementation $ this week.

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What is coming inModule 2

• New Way: Hunting vs. Attracting• WISGAT & What That Means To You Is …• Intro calls on leads – set the appointment• The Mindset Mastery Of The Worlds Most Successful

Agents And Entrepreneurs!• Transaction Fees at closing• CJ's 7 Step System To Change Anything In Your Life• 7 Step Formula For GUARANTEED Success 42