Pumping Up the Agent Psyche

In IAR’s latest Broker Sentiment Survey many managing brokers mentioned the toll this recession is taking on agents in the trenches who are dealing with some pretty sad stories from clients related to forced sales from job loss, foreclosure, divorce and bankruptcy on top of the challenging nature of pricing and financing in this market. So we turned to some top real estate coaches whose job it is to motivate and inspire agents every day.

Dirk Zeller, president of Real Estate Champions (www.realestatechampions.com), says it’s important for agents to limit their exposure to the media and negative news. “You need to be abreast of what’s happening but you don’t have to be swimming in the pool of bad news which only helps sell newspapers.”

1. Improve or die. “Now is the time for agents and brokers to immerse themselves in education and training, forms of improvement,” says Zeller. “Whatever brought them to their current level of success won’t be enough to keep them where they are. They have to be improving.”
2. Study the market more and find the positives. “Agents and broker owners need to know the market numbers, inventory and price points, how many sales per month, absorption rate. We are seeing strong stabilization in some markets and most agents aren’t looking at the sales data to see the growing inventories are coming down…positive signs that the market is flattening, hitting bottom or potentially making noise about improving.”
3. Stay away from negative people in the office. “Protect yourself. Your attitude is like an infection, positive or negative, like a cold you catch it.”
4. Fill your head with positive stuff. “Now is the time to listen to CD programs that will motivate and direct agents. Read quality books that will lift your spirits and motivation levels or teach you something. A classic that stands the test of time is The Power of Positive Thinking by Norman Vincent Peale and Flight Plan: The Real Secret of Success by Brian Tracy is a good book.”
5. Provide a higher level of accountability. “Brokers should provide a higher level of accountability toward their agent’s prospecting and lead follow-up. You can’t do it with everybody. Pick key people in the company and increase their personal activity. When their performance improves, everyone else will look around and say ‘How is Susie doing this?’ That broker will get credit for helping Susie and everyone will want the same kind of help for themselves.”

Walter Sanford, president of Sanford Systems & Strategies (www.waltersanford.com) says get ready to change the way you do business or move over. “You get what you deserve when you tell agents it is going to be OK tomorrow, because they never change. They think they are going to party like 2006 again. Keep telling them it’s getting better and watch them do what most do best—wait for a client to bump into them. I guess I am tired of all the complaining. It is time to start training agents to do the right stuff, now.”

1. Increase your listing inventory, limit short sales and REOS. “If they want to survive, heck even prosper, you need to do what I did when the market was grungy,” says Sanford. “Increase your listing inventory by multiples populated by sellers with motivation or equity or hopefully, both. Only take short sales that have a chance of closing. Stop chasing the REOs (if you don’t have an account already, there is easier business out there to find!). Work only with buyers that allow themselves to be counseled, pre-approved in writing, come see you and sign a loyalty agreement.”
2. Give them something different so they can be loyal to you. “Hoping they will buy is different than obtaining a commitment from a buyer that will buy. While you are showing that buyer FSBOs, expireds, your new listings, product from your sphere of influence database and the calls that come in when you send postcards to the neighborhood that the buyer wants...you will also be generating listing leads.”
3. Let go of clients that cannot perform. “Remember, real estate agents work for free until close and the only thing you can control is the quality of your client. Build that listing inventory, stop doing things that make little or no money and stop working with buyers that have not jumped through a few hoops.”
4. Work every day to get a new listing. “A listing puts the whole MLS on your payroll, it gives you a chance for a double-ended transaction and it is the least expensive method to generate a buyer.”

Joeann Fossland ACRE, GRI, PMN, SRS, a Master Certified Coach and president of Advanced Solutions LLC (www.joeann.com) says in every market and climate, there are opportunities. “The most important element of success is attitude. It is more difficult to be positive when dealing with the challenges that today’s market presents, it is the critical difference between the agents that have found a way to thrive and those who are struggling.”

1. Focus on what you CAN do and what IS working. Stop bemoaning the fact that it isn’t like it used to be! It is NEVER going to be like that it again! It’s a brave new world and there’s lots of opportunity for those who create or recreate their businesses to meet the consumer wants and needs!
2. Start where you are. Assess where the business is in your market area right now. Who is buying? Selling?
3. Examine your strategies. Are you actively prospecting to the people who are in this market?
4. Reposition your prospecting and services to serve niches you haven’t previously focused on if it is where the consumers are.
5. Get educated! The average income of those with designations is much higher than without. It’s an excellent time to upgrade your skills. Learn about short sales and repos, negotiating, green, and technology.
6. Technology, technology, technology! If you haven’t taken NAR’s ePRO Course with the new Web 2.0/Social Media Module, this will position you for the coming years (96 percent of consumers are online first!) Create your tech plan and be consistent. Learn to use Facebook, LinkedIn and Twitter to build your relationships.