MASSACHUSETTS 11-12-18

MASSACHUSETTS EDITION

Playing the Real Estate Matchmaker 5 Reasons Why You Need a Mentor

Killing Clients with Kindness AND VALUE

COVER STORY

Craig Anne Lake

MASSACHUSETTS EDITION

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CRAIG ANNE LAKE

Craig Anne Lake CONTENTS 4) 5 REASONS WHY YOU NEED A MENTOR 6) PLAYING THE REAL ESTATE MATCHMAKER— FOLLOW THESE 8 DATING RULES TO ENSURE YOU MATCH YOUR CLIENT WITH THE PERFECT HOME FOR THEM

15) SIX POWERFUL PROSPECTING TIPS TO BUILD YOUR BUSINESS 20) KILLING CLIENTS WITH KINDNESS AND VALUE

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5 Reasons Why You Need a Mentor As great as it might feel to start your own business, and be solely responsible for its success, at some point, every entrepreneur reaches the limit of their potential, and needs a boost that only experience can provide.

But how do you get a lifetime of experience when you’re just starting out? Sure you can read countless books, but no book can replace the real life experience and advice of a mentor.

Mentors not only provides valuable insights, but they also have access to valuable connections as well. In fact a majority of the 4

most successful CEOs and entrepreneurs in the country have said that having a mentor early on was instrumental in their success.

Here are some of the reasons why.

1. They’re able to see where you need improvement, when you can’t When you’re working non-stop to get your business off the ground, you might feel sensitive to any criticism from people who aren’t going through what you are. A good

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mentor knows exactly what you’re going though, and has probably made every mistake. When you’re in the thick of it, you might not be able to see where the problems are. A knowledgeable outsider, who knows exactly where you’re at and has only your best interests at heart is just what you need.

When you have a trusting relationship with someone like that, you will be more willing to listen to that brutal honesty, even if that constructive criticism stings.

energy into it. They can see things in a completely logical way and guide you based on the facts rather than emotion. A good mentor helps you work smarter, not harder. They help you focus on your goals and how to get there, as well as setting boundaries for you so you don’t overextend yourself. They teach you how to say no and help you let go when you need to move on from a setback.

2. They will encourage you to think outside of the box

In addition to expertise, building a strong network is something that can only come with time. A mentor will most likely have that already, giving you access to people and resources that would take others years to gain. These connections will lead to opportunities that might never have happened otherwise. It’s also a great confidence boost knowing that your mentor trusts and believes in you enough to invite you into their inner circle.

Years of experience can give someone a great idea of what works and what doesn’t.

They’ve seen things first hand, not just in theory. At the same time, mentors recognize the importance of taking chances, calculating risks, as well as cutting losses and moving on. A good mentor isn’t trying to encourage you to be a carbon copy of them, they are trying to create the best ‘you’ possible. That includes encouraging you to take chances, and then being there pushing you to keep going forward if it doesn’t work out.

A good mentor knows that even failures can be opportunities.

3. They take the emotion out of decisions and help set boundaries Unlike you, a mentor has no emotional investment in certain business approaches that you might have decided to try. There’s nothing harder than admitting something isn’t working when you’ve put a lot of time and Top Agent Magazine

4. Networking

5. Encouragement At the heart or it all, a mentor offers you encouragement and motivation along the way, in good times and in bad. After a failure, it can be hard to get back on track and keep forging ahead. It helps to have someone who has spent year getting back up after being known down and coming out stronger than ever. It’s during those moments, when you feel alone and isolated, that having someone around offering you advice and positive feedback will be a much needed salve. They’re your cheerleader, they want you to succeed, and hopefully, you’ll pay it forward one day when you become as successful as them.

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Playing the Real Estate Matchmaker –

Follow These 8 Dating Rules to Ensure You Match Your Client with the Perfect Home for Them When you think a bit more about it, the ultimate goal of a real estate agent serving a client is really to match them up with the perfect house for them, almost the way a matchmaker tries to find two people that will fit well together as a couple. When people are looking for a house, they often treat the process as a quest for “the one” house that will fulfill their dreams of living in the house of their dreams. Don’t be fooled. It is always a search for “the one”, at least when it comes to helping a couple or family find a home.

When you look at your client’s search for a home in this manner, then you might begin to notice some pretty obvious similarities

between shopping for a home today and online dating. In this day and age most people live a substantial part entire lives online. People socialize with their friends on Facebook, they meet potential friends in forums and online communities, and we now even search for our perfect mate online. Shopping for a home also happens to usually start online. When they begin this search, make no mistake; they are looking for the “one.” These people then turn to you, the REALTOR® to play matchmaker for them. It is your job to wade through the pool of eligible homes (bachelors) and sort through all the ones that are too expensive, too nerdy, not cute enough, not smart enough, etc. until you find the “one.”

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It makes sense then to consult the tried and true practices in matchmaking that help those professionals find the right people for each other, and see if any of them could also apply for matching your clients with their dream home. You’ll find that these 8 dating rules may just show you the secret to matching your clients with the perfect home.

back to the store if you’re not happy with your new home. It’s best to first help your client get prequalified. This is a tangible step that shows they are ready to move on to a new home. You want to make sure they are completely over their love affair with their previous home. You can even ask them for a sign or proof that they’re ready to move on.

Who Is In and Not In Your Client’s League? Know Your Client’s Price Range:

Be Genuine, Not Superficial

When a person is looking for a mate, it is a waste of time for them to even consider those potential mates that are clearly out of their league. These people won’t even stop to give them the time of day.

In the world of real estate the idea is the same. There is no point showing your clients houses that they can’t afford and will simply lust after without having any real chance of purchasing the house. It is your job to keep your client ground in reality, and help them be realistic in terms of price when choosing their next home.

When trying to manage the many pitfalls of online dating, on inevitably goes on a date where the other person looks nothing like their picture online. That can be just as big of a problem when looking for a house. When clients show you a particular house they want to visit, ask them to name something about the house that they like other than the aesthetics. This way you can see if they are simply infatuated with the way the house looks in those pictures, or if there is a deeper interest in the home that could become a deeper connection between your client and the house.

Never Let Your Client’s First Impression of a Home Rule Their Decisions

Make Sure Your Client is Ready to Move On From Their Last Dream Home You’re job is also to make sure that your client is truly ready to move on from their previous home. This is a long term commitment, and they need to be absolutely sure they actually want to buy a new house. You can’t simply take the receipt

When your client first sees a house they have already been lusting after in their mind, they’re often so excited to finally be looking at it, especially if it does in fact look as good as it did in the pictures.

Make sure to encourage them to take some time before making such a big com-

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mitment, and don’t let their excitement push them into making a rash decision. It is your job to keep them grounded in reality. Push for your clients to do an inspection to make sure the house isn’t hiding any dark secrets. Sometimes the most charming facade can hide tons of slime and deadly mold.

Follow Your Heart (or Gut) People often laugh at and ridicule the idea of love at first sight, but when it comes to homes, the phenomenon can certainly happen. Your client may just find their perfect dream home at the very first place you take them. If you have a client that does insist this is the case, then you don’t want to try and rationalize with them or talk them out of their decision. You do, however, want to make sure you are watching out for their interest and make sure your clients take all the necessary precautions before they jump in headfirst.

See What Other People See in The Home – Do They See What Your Client Sees?

Have you come to the conclusion that your clients are being blinded by all of the twinkling windows and crystal clear water glistening in the backyard pool, and can’t see that the house they’ve fallen in love with is really just a dirty animal (maybe a pig) dressed up in nice clothes and lipstick. Ask your client if they would be willing to look at the house again with

their close friends, family, and anyone else they trust for a second opinion there to see it with them. If the house really is a dud, they’ll be able to see past any personal bias your client might have to the truth. They will be able to help your client see through the shining facade

Celebrate the Happy Union!

When a couple gets married they tend to throw a big party and celebrate their union. The same goes for the closing.

Your clients have just essentially married the house of their dreams, and now it’s time to rejoice. Congratulate them on their new union. Show your support for their new homeowner status by going to their housewarming party.

Help Your Clients Maintain Their Dream Home & Ensure a Lifetime of Happiness You can’t just disappear after the transaction is finished. Become their realtor for life by showing your clients how to maintain their dream home. Act as their resource for other professionals they may need to maintain the house such as handymen, plumbers, electricians, etc. Show them how to keep up with home maintenance so they don’t ignore problems that surface and end up with a much larger issue than they started with. Help them make sure their dream home lasts so they can live happily ever after in their home for a lifetime.

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Craig Anne Lake

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CRAIG ANNE LAKE Growing up, Craig Anne Lake always admired her best friend’s mother, a top agent in Maryland. Years later, as Craig was planning a move to Boston, she fell in love with the real estate world and thought of her best friend, now an agent in her own right, and ultimately decided to make the leap. “I always believed that you should do what you love,” she remembers, “and I knew real estate would be a good fit for me.” In 2010, Craig launched her own career, first specializing in rentals as she began, while building contacts and learning the industry’s ins and outs. Today, eight successful years 10 Copyright Top Agent Magazine

later, she has established a steadfast reputation for her integrity, candor, deep commitment to her clients, and her authentic enthusiasm for her daily work.

As one of the top agents in Boston today, Craig not only serves the Boston area, but also serves the communities of Newton, Brookline, Cambridge, and Winchester. Working under the banner of Compass, she has broken Boston records for highest price per square footage—a callback to her days as a competitive runner and coach for two Olympic athletes. These Top Agent Magazine

days, Craig brings the same level of commitment, discipline, and dynamic support to her work with properties. “I truly eat, sleep, and live real estate,” she says. “I love what I do, I’m passionate about it, and that definitely comes through in my work with clients. I am extremely driven, but I also think it is important to be up front and honest about each properties’ pros and cons, because I never want clients to have regrets about this process.” Likewise, Craig has cultivated a business largely driven by repeat and referral clientele—a testament to both her staying power and lasting relationships. “I won’t sell something that I don’t believe in,” she explains. “I always ask myself if I would want to be the one to sell that property down the road. That’s why I’m honest and transparent with my clients.” Beyond her dependability and delivery of results, Craig also Top Agent Magazine

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creates an organic connection with those she serves. “Many of my clients become friends,” she says. “I’ve always loved meeting different people and when you’re working alongside someone through this process, you often get to know your clients well beyond just real estate.”

When it comes to listing, Craig leverages the power of Compass’ global imprint and its arsenal of cutting-edge tech tools. Of course, Copyright Top Agent Magazine Copyright 12

first impressions are everything, and Craig highlights each home through professional photography, as well as staging and tune-ups as needed. From there, traditional marketing materials—print ads, mailers, brochures, and fliers—pair with digital exposure across social media and the leading online listing platforms to net wide-ranging visibility. Craig also taps her expansive network of industry colleagues to give listings an added, exlusive boost. “As one Top Agent Magazine

of the founding agents of Boston’s Top Agents Network, I’m also able to promote off-market, pre-market listings to other top agents in the area,” she says. “Since joining Compass this past year, I’ve had access to some of the best marketing tools to create amazing materials right at our fingertips.” These include comparative market analyses and pricing strategies that give listings an extra edge in Boston’s competitive market.

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Beyond the office, Craig gives back to her community near and far by supporting cancer research and awareness efforts, as well as her sponsorship of a young girl’s educational pursuits across the globe in India. In her free time, Craig most enjoys time spent with family and friends, going for runs along the Charles, and traveling, with recent destinations that include everywhere from Tanzania to Turkey. As a competitive runner and a forCopyright Top Agent Magazine 13

mer top collegiate coach, Craig also challenges herself to new athletic pursuits, with triumphs that include a 6:16 per mile pace at a Central Park half-marathon.

As for the future, Craig intends to continue growing her business steadily and mindfully, with plans to ultimately bring on new team members in the years to come. Finally, with nearly a decade of experience behind her and an ambitious eye on the road ahead, Craig Anne Lake reflects on

what she enjoys most about her chosen career.

“In many ways, real estate feels more like a passion than a job,” she says. “I love looking at different properties and meeting different people. I love the comparative analysis and research aspect of my work, as well as the ability to educate clients in helping them find the home right for them, whatever that may be. Finding the right fit is the goal, and there’s nothing that compares to that feeling when clients are both successful and happy.”

To learn more about Craig Anne Lake, email Craig.Lake@Compass.com, call (917) 655 – 4160, or visit compass.com/agents/boston/craig-anne-lake https://www.facebook.com/thekenneyteam/

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Six Powerful Prospecting Tips to Build Your Business

By John Boe Why is it that some sales reps consistently earn a six-figure annual income while other reps, putting in the same hours, selling the same products, and trained by the same sales manager struggle each month financially to make ends meet? The answer to this question is painfully simple; the six-figure sales reps understand the importance of business development and never forget to ask for referrals.

Top producing sales reps set high standards for themselves and spend the majority of their time either actively prospecting for new business or closing sales. Successful sales reps set productivity goals, establish priorities, and don’t waste their precious time hanging out in the break room or taking twohour lunch breaks.

Top producers don’t need to be reminded to ask for referrals on a daily basis or follow-up on hot leads, because they understand that prospecting for new business is a necessity and not just an activity. The good news is that prospecting for new business, like any other learned skill set, can be trained and developed into a habit.

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Tip One: Don’t Forget to Ask for Referrals.

When it comes to asking for referrals, timing is everything. Research indicates that the most effective time to ask for referrals is right after you’ve made the sale or provided a valuable service for your customer. Asking for referrals prior to closing the sale is a big mistake and may even jeopardize the sale itself. Once the sale has been completed, your customer will be on an “emotional high” and far more receptive to the idea of providing you referrals. When you ask for referrals, your goal is to get as many names written down as you can. Just keep asking... Who else? Once your advocate has given you all of his or her referrals, then go back over the list of names to get details on each prospect.

Tip Two: Train and Reward Your Advocates.

An advocate is a person who’s willing to go out of his or her way to recommend you to a friend or associate. Most customers are initially reluctant to provide referrals without some basic training and motivation.

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Once you’re given a prospect, Asking for it’s a good idea to take the time to role-play with your advocate referrals prior to to demonstrate how to approach and talk to their referral. A brief closing the sale is a role-playing exercise will build your advocate’s confidence and big mistake and keep them from over-educating may even jeopardize their referrals. During your roleplay session, be sure to prepare the sale itself. your advocate to expect some initial resistance. This training will pay big dividends by making your advocate more effective and less likely to become discouraged when faced with rejection. Always take the time to thank your advocates and give them feedback on the status of their referrals. I recommend that you call them and then follow up by sending a thank you card and or gift.

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Tip Three: Strike While the Iron is HOT. Prospects, like food in your refrigerator, are perishable and therefore need to be contacted quickly. Each day you let slip by without making initial contact with your referral dramatically reduces the probability of you making the sale. Develop the habit of contacting your referrals within two-business days or sooner. Have a system to keep track of your referrals so they don’t end up falling through the cracks. It’s critical to have a computerized client contact management system to record your remarks and track future contacts and appointments. Relying on your memory alone is a very poor business decision that will cost you dearly.

Tip Four: Schedule a Minimum of Two-Hours a Day for Phone Calling.

Make your phone calls in the morning while you and your referrals are both fresh and alert. Treat your prospecting time with the same respect you would give to any other important appointment. This Treat your prospecting is not the time to check your e-mails, play solitaire on the time with the same computer, make personal phone calls or chat with your respect you would give associates.

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to any other important appointment.

Avoid the temptation to try and sell your product or service over the phone. Your objective for every phone call is to create interest, gather information and make an appointment. If your prospect asks you a question, get in the habit of going for an appointment rather than giving a quick response.

Don’t shoot from the hip use a script. It’s important to use a phone script when you contact your prospect so you don’t leave out any key information.

It’s a good idea to role-play your script over the phone with your sales manager until he or she feels you sound confident and professional.

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Tip Five: Qualify Your Prospect at Maximum Range.

Unfortunately, not every prospect will be interested or qualified financially to purchase your products or services. Successful sales reps don’t waste time chasing after low-probability prospects and know when it’s time to cut their losses and move on.

Tip Six: Don’t Take Rejection Personally.

Selling, like baseball, is a numbers game pure and simple. Rejection is to be anticipated as a natural aspect of the qualification process, so don’t take it personally. Learn from rejection by using it as a valuable feedback mechanism. Salespeople who take rejection personally lack perseverance Salespeople and seldom make the sale.

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who take rejection personally lack perseverance and seldom make the sale.

For the majority of salespeople, prospecting for new business is without a doubt the most challenging and stressful aspect of the selling process.

Selling is a contact sport and daily prospecting for new business is the key to every salesperson’s long-term financial success. By integrating these six powerful prospecting tips into your daily business routine, you’ll be able to keep your appointment calendar packed with qualified prospects!

“Sales are contingent upon the attitude of the salesman, not the attitude of the prospect.”

– W. Clement Stone Copyright ©, John Boe. All rights reserved.

John Boe presents a wide variety of motivational and sales-oriented keynotes and seminar programs for sales meetings and conventions. John is a nationally recognized sales trainer and business motivational speaker with an impeccable track record in the meeting industry. To have John speak at your next event, visit www.johnboe.com or call 937-299-9001. Free Newsletter available on website.

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Killing Clients with Kindness and Value

By Walter Sanford

Sometimes, we need to “kill” our clients with kindness and offer value. I know it goes against everything in our nature to turn the other cheek when they are being mean.

Recently, a coaching client had some challenges with a particular client, and I’m sure you have also worked with the kind of client who discourages you so much that you just want to hit the delete button!

How about offering a response that increases your fame and makes the client always wonder what they may be missing? They might not list with you, but they will never forget you.

Included in the balance of this article are the email from the client, the request for help from my coaching client, and then my suggested response.

Email from the Potential Client: Sorry, I have been really busy. Let me tell you where I’m at with everything. You may or may not be interested.

I am definitely putting the house on the market. The house has been rented for the last 5 years with the same family. They originally signed a rent to own lease. Three years ago, they decided they didn’t want to buy it.

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Anyway, I recently informed them that I’m going to put the house on the market. Now, they are reconsidering buying the house. I don’t think they will buy the house, but I guess you never know. If they do buy the house, it would be for sale by owner. I will not let them drag their feet.

We happen to know a lot of REALTORS® in (area). Some are pretty good friends and with that comes opportunities at rates way under the norm. One of them did sell our last house quickly but circumstances have changed. I know you are a very good REALTOR®, because I have heard other REALTORS® talk about you.

You may not be interested at this point anymore. If you are still interested, let me know what your best rate is. Let me know if you are okay with the current tenants on a “for sale by owner” agreement, if that happens.

I would want a short-term agreement. The current rent is higher than my mortgage payment so I’m okay if they don’t buy and I’m not forced to sell at a low price. However, I want to sell ASAP. I’m wanting to purchase another property so I’m not going to overprice the house and I will negotiate.

Email from Coaching Client to Me: Walter, this guy is a college basketball coach. I want to help him, but I need to have a chance to run a successful business, too! How do I answer this?

Email from Me to Coaching Client (to share with potential client): Thank you so much for the nice words. It is very exciting to hear that our hard work is creating some buzz. I think we can accommodate you and exceed your expectations: Top Agent Magazine

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1. We believe that we exceed client expectations more often than most agents, because we spend the time to understand what the client needs.

Then we develop a customized program to meet and exceed that goal.

We would love to help you in accomplishing your real estate needs.

2. We would be happy to exclude the current residents from the listing agreement for 30 days. This would help in motivating the current residents to buy in that they can see the price discounted by the commission, if they commit to buy within the 30 day period. We would like to offer you our closing service that handles everything for a flat fee of $4,000. This handles the contract phase, aligning the team of affiliates, and the closing. This, of course, is at your option.

3..Our commissions are normal for our market, but we save you money over any commission discounter. Our specialty is increasing your net proceeds. We do this by bringing you more buyers with more effective marketing, better negotiating, better systems for handling inspections, better pre-approval tools for your buyer, better contracts, and less post-seller litigation from better contracts. Commission discounts usually cost you money because of the agent’s lack of emphasis on your net proceeds check. It is like a basketball player who is playing with no heart, only for the scholarship.

4. Our rate is retail 6%. This may eliminate us, but that would be a shortsided conclusion. Here are 5 of the ways we can beat any commission discount: A. We beat the average List to sell ratio in (area) by a larger margin than any discount.

B. We beat the days on market, which affects your carrying costs and lost opportunity costs on your equity.

C. We have a low litigation rate as compared to national standards.

D. We can market your home a little over retail due to our marketing.

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D. We urge a pre-inspection plan to get rid of the little and big problems before a buyer is involved and wants everything built new.

5. Our agreements are 6 months, but that is not what sells properties.

Marketing and price sell property. If we are wrong about those two items, we will adjust every week based upon showings and consultations with you.

6. I would also like to advise you on a misconception. Rental costs average about 35% of market rent in our area. Add in lost opportunity costs on your equity that is not doing anything at this point. I can show you how your current position is losing you money every month.

I think our next step is a presentation of the tools we bring to achieve your goals. Listing with friends is loyal, but is it the best business decision?

Do they have the tools and will you hold their feet to the fire when the results are not what you need? (Client’s name), you know the difference superstars make on a team. Let’s go for the win.

It’s not so much whether my coaching client obtained the listing, but he needed to stand up for a profitable, long term business. Never sell yourself short to get business. You will never be happy.

In these situations, I cannot guarantee an outcome, but I can guarantee the client will never forget you. You are planting seeds of discontentment with the small amount of money saved in a commission compared to not achieving their goal. Whether he/she admits it or not, he/she will have respect for you.

Do more lead generation so you won’t have to work so hard on leads like these.

Copyright©, Walter Sanford. All rights reserved.

Walter Sanford has been designing and implementing real estate systems for 30 years.

One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry. Do what works, do what is proven. Hire Walter Sanford. Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com.

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