Step #4: Accelerate Your Personal Market Share, Production Level and Income To Reach Critical Mass ™
Did you know that an “educated” client is worth 8 to 10 time more money to you than an “UNeducated” client?
One of our subscribing agents told me that by using specific “educating” strategies in her practice for the past 3 years, her income has actually multiplied FOUR-FOLD.
She closes clients faster, and enjoys working with them more. And in the process, her clients report greater satisfaction with her services.
And yet most agents neglect to use education as part of their marketing. Big, Big Mistake.
Today I’m going to show you 3 important “educating” strategies so you can reap similar results in your practice.
Question is: HOW do we educate our prospects and clients, and WHAT do we educate them about?
That’s the topic for today’s article…
How “Educating” Your Clients Can Increase
Your Production 400 to 1100%!
Have you ever had to go through an important event or process in your life, and you didn’t know what was going to happen beforehand?
Maybe you purchased a new car. Or underwent some kind of medical procedure. Or maybe you were making a BIG purchase, such as land, or a home, or a building.
And when you didn’t know what to expect, didn’t you feel a bit nervous? Even a bit lost?
Even worse, a bit FEARFUL?
Well, believe it or not, that’s how most of YOUR clients feel when they work with you. And that’s why EDUCATING your clients about a number of “processes” is so important to the success of your business.
Here are 3 important (and simple) ways to educate your clients, and virtually guarantee all your deals close, and ALL your clients are ecstatic with your services.
(In fact, if you truly want to DIFFERENTIATE yourself from other agents try this process.)
Educating System #1: Provide a Road Map
Here’s where most agents blow the relationship right up front: They Fail to educate their prospects and clients on the EXACT PROCESS of buying or selling.
And by doing this, they fail to remove the inherent fears present in people.
The truth is, most people are silently wishing you would take the lead and help them make a decision.
So here’s what you can do: Whenever you meet with buyers, or arrive at a listing presentation, in addition to other materials, take a simple FLOW CHART of the process of buying or selling.
The process starts right where you are at our first meeting, then takes them through all the stages of buying or selling, and DETAILS exactly what’s going to happen, including what might go wrong and how you’ll handle the problem if it arises.
This way, they know where you’re going. They have a road map. And, most importantly, they instantly feel less fear and more comfort working with you.
Here’s something else that will differentiate you from other agents (you saw it earlier in article 16):
“NAME” your personal process so no other agent can use it (not to mention very few other agents ever do this to begin with).
For example, your buyer program could be called, “My Platinum Home Buyer Program.”
Or your listing system could be called, “My Top Dollar Home Marketing Program.”
Then, simply list out everything you do to serve your client. Get creative (and make sure you transmit a benefit in your name) and it will make a big difference.
Couldn’t you easily put together a simple ONE PAGE flow chart of your personal real estate process and integrate it into your buyer qualifying or listing presentation?
Sure you could. Do this simple little exercise, and watch your clients bond to you like velcro.
Educating System #2: Set Expectations Up Front
The second process of educating needs to be integrated into your firstprocess above. And it’s this: Educate your clients on what to expect of you.
When you use a flow chart and present the entire process of buying or selling, you have a great opportunity to set their expectations of you.
How do you do this?
By simply telling them at each stage what you’ll be doing to service them. This also enhances your image and value as a true professional.
AND, it tells them that YOUR services are more than simply entering their home on MLS, or doing a simple search to find their next home. Believe it or not, most people don’t know all the things you do as an agent.
You need to tell them yourself.
Now, it’s important not to oversell yourself. If you make outlandish commitments, that’s what they’ll expect, and you may not meet those expectations.
On the other hand, if you make too few commitments, other agents will beat you out of the listing or buyer representation.
The “secret” is to tell everything you will do, but do not oversell yourself and be perceived as under-delivering.
Here’s why: Your GOAL is actually to exceed all of the expectations they have from you.
Set the standards of what will happen and when: how you return calls, how you service leads, how you promote their home, how you search the market for the right home, how your staff works, etc.
Be detailed on everything to service them. The more you explain, the better your client will feel about working with you.
Educating System #3: Program Your Intentions
This system is perhaps the most important.
In a nutshell: Educate your clients on HOW you do business and that you generate the majority of your business by REFERRAL, WORD OF MOUTH, and REPEAT BUSINESS.
You want to subtly program them to support your business and reciprocate to you by actively referring their friends, family and acquaintances.
Your goal is to establish a multi-hundred sales force of past clients (and House List) actively sending you referrals, word of mouth and repeat business. But no one will do anything without you letting them know that’s how you work.
The responsibility is yours. And the great thing is, it’s very easy to do all this.
Want some ideas? Try these out (some you’ve seen in earlier articles):
** During the transaction, communicate how you generate clients by telling stories about other clients you received by referral. This will subtly reveal HOW you operate.
** PROGRAM how you generate your business by referral in ALL of your communication methods: voice mail, letterhead, business card, ads, sales letters, post cards, etc. I even know of an agent who changed the name of his brokerage to “Referral Realty.”
** You can end all of my letters with a “P.S.” that says, “Oh, by the way, if a friend or family member you know could use a caring and competent agent, I would enjoy meeting them. Thanks for thinking of me for your referrals.”
** Follow-up all closings with a thank you letter, request for testimonial, and referral programming.
** Create referral incentives. No, you don’t need to violate regulations with fancy gifts. You can make people feel very “special” by creating a special “inner circle” club. Best of all, you can outline benefits for members that support your business: Free home appraisals (new business for you!), Free service supplier rolodex, invite to an annual comedy club party, etc.
And FINALLY, there’s no better way to deepen your relationship, program for referrals, and generate unlimited word of mouth and repeat business than with…
Your SERVICE FOR LIFE!® Direct Response Prospecting
and Referral Producing Newsletter.
Each issue is jam packed with welcomed stories, jokes, teasers, trivia, and more to GET READ and GET ACTED UPON (That’s right, it’s NOT all about real estate, for a very important reason. Don’t be fooled by newsletters that are all about real estate. You’ll be wasting your money using them.).
Each issue also is programmed with 7 “Psychological Triggers” to make your clients and farm area BOND with you.
And each issue is automatically enhanced with over 14 Direct Response Offers, so when people think of “real estate” they naturally think of YOU.
You get there first and final, before other agents even know they exist.
If you’ve already subscribed, then you know what I’m talking about.
If you haven’t subscribed, you can see everything in action by clicking on the links at the bottom of this article.
Please forgive me for sounding like I’m “selling,” but that’s what I do for a living (don’t forget, that’s what we ALL do for a living!).
If you’d like to join the elite 4% of agents who capture a steady, predictable stream of the very best clients (and getting them before other agents know they exist), this is your invitation to join me.
Simply click on the logo to the top of this page, then the “Join Today” button at the top left – or call my offices Toll Free right now at (800) 622-2540.
Today’s Action Plan:
People don’t know how you operate until you tell them. And they don’t know what to expect until you show them.
That’s why it’s so important to give your clients a road map on the process of the forthcoming transaction, AND let them know what to expect along the way.
This way they feel comfortable, more assured, and know when you’re going above and beyond for them.
So take a few moments and outline the exact processes of your business.
And then watch your client stick rates, overall satisfaction, and referral rates literally multiply.