In the “Strategic Audit” process we started studying how well brokers were generating ancillary revenue.

During this process I was surprised to see how some brokers ignored it and how some brokers embraced it fully.
One of the best examples I found was with a broker client who was generating close to $3000 per person in ancillary
revenue.

With an office size of 50 plus sales associates he was grossing in excess of $165,000 in additional revenue.

What would your business look like if you had an additional $165,000 on the bottom line?

Many times as a consultant to broker owners our clients quickly assume that the only way to increase revenues is by
increasing fees. I am here to remind you that there are many other alternatives in additional to this.

Maybe it is time for you to strengthen your bottom line.

Give us a call. We have helped 100’s of brokers with their profitability goals and we can certainly help you also.

A referral is a recommendation that is introduced to you by
someone both you and the prospect regard highly.

If you are conducting your business properly, your referral
networks will be continually growing and becoming one of the
largest sources of your business.

Sources of Referrals

The majority of referrals come from current clients, past clients,
people you’ve met through networking situations, and people
you know through social or business dealings as well as family and
friends.

Current Clients

Current clients are people you are actively representing right
now in a real estate transaction. They are a great source often
overlooked simply because since we are dealing with them
already, it doesn’t occur to us to ask them to keep us in mind
when they are talking real estate with their friends and contacts.
Since they’re in the midst of deals it’s a given that they would
be constantly talking with their friends, associates, family, and
neighbours about it. Their conversations revolve around their
real estate wants and needs, their moving plans, real estate
trends, and market activity. It’s a given that your name would get
mentioned. If you are doing your job well, it will be mentioned in
a positive framework.

This is a great opportunity for you to reach potential prospects!
Putting in a few good words on your behalf would be a natural
and easy thing for them to do. You just have to ask. So ask!!!

Past Clients

These are the people you’ve helped through real estate
transactions in the past. They know the quality of service that
you provide (it better be good!!). You need to tell them that you
would like to provide the same level of excellent service to their
friends and family by requesting their referrals.

Clients you’ve recently served provide the most fertile
opportunity, both because their experiences are fresh in their
minds.

Networking

The purpose for networking is to build business contacts into
referral alliances.

The objective of networking is to meet success-oriented people
with whom you can exchange referrals, advice, counsel, contacts,
and even wisdom. Proper networking results in professional
relationships with others who are committed not only to their
success, but to your success as well.

To network successfully; you need to accomplish to 4 things.

establish new alliances

1)

Deepen existing alliances

2)

Obtain new referral sources

3)

Acquire warm referrals.

4)

A warm referral begins when a networking associate makes
contact on your behalf with a person who is in the market for

your services. Warm referrals involve calls or correspondence
that convey your qualifications, the quality of your service,
and reasons why prospects should at least interview you for
the opportunity to represent their interests in real estate
transactions.

Business and Social Contacts

Many people you meet socially or through business dealings will
never become clients. They may have previously established
agent relationships or they may not be in the market for a real
estate transaction. They are still important to your business
because they could be in a position to give and receive referrals.

Start by sharing business referrals, counsel, help, and wisdom
with others and before long the recipients of your sharing will
repay you with like efforts. By helping your friends, family, and
associates build their businesses, in time they’ll help you build
yours.

When dealing with your referral sources, make it your goal to
provide service and value in excess of expectations.

Watch your referral business grow!!!

Are you in the process of improving your health… be it weight loss, healthier eating habits and lifestyle?

Honour The Process – it took you a long time to get the way you are; it requires time to change AND
Patience, patience, patience! You are always look for instant fixes; you want what you want when you
want it! That’s what got you into this trouble in the first place! You’re not going to affect positive lasting
change with the same impatient attitude towards shedding the weight that you have towards eating
food. Patience is an important part of the process, an important skill to practice - practice, practice
until you really become good at it! It is about being patient with waiting to eat and about being patient
with yourself when you can’t change instantly. It’s about balancing patience with discipline. Like being
a good parent, it isn’t an easy balancing act. That’s why it is necessary to really honour the process, to
honour what you are going through, and your own way of healing, changing and growing!

Earlier this month I challenged my friends, family and peers to try one week of eating just raw foods.  I’m putting this challenge to you.  Try it for one week; just eat raw foods…no cooking, no baking, just raw!  Your body will love you.  Make sure you drink lots of water.

This is what not to do:

Do not get caught up in the ‘Hollywood’ style raw diet that so many promote. The proposition… ‘if it’s raw, eat as much as you want!’ is a recipe for failure.

Most raw foodists eat far more fat than those on a Standard American Diet! On average, the standard American diet consists of about 40% fat content, which is already high, while many on the ‘hollywood’ style raw food diet often eat over 80% fat! They get caught up in the ‘junk food’ raw diet with food bars, crackers, complex recipes, superfoods and anything else that’s processed. They eat lots of nuts, seeds, nut butters and avocados with the thinking that if it’s raw, it’s ok to eat as much as you want.

Trying these is fine, and even having them once in a while is ok, but not every day.

First, eating like that is very expensive!  Creating organic, raw dehydrated crackers, bars and other complex raw foods is time consuming and in turn, cost more. Not only is it not necessary to spend the extra money, but secondly, they’re still processed foods.

The bars, crackers and complex raw food recipes are still processed, modified from the original raw ingredients and often are dried, heated and contain stimulating additives or spices.

Third, they are high in fat content and eating a high fat diet, whether raw or not, is still unhealthy.

Concentrated nuts and seeds are packed with fat and the basis for most processed raw foods. You just can’t get away from the fat in these, they are the main ingredient in most every processed raw food.  Lastly, even though you may enjoy these initially, after some time eating simple raw foods, you’ll lose all appeal for these fatty, heavy foods.

This is what to do:

The key to success here is to eat as much fresh, organic, whole fruits and vegetables as possible, with a small amount of nuts and seeds.  You may start out eating these heavier, processed foods when transitioning, but in the long run they may be the reason for your failure on the raw food diet, and ultimately a detriment to your overall best health.

By eating a sufficient amount of fruits, for calories and fat, and greens, for protein and essential

minerals, you will lower your cravings and hunger and be satisfied without the heavier and processed raw foods.

Fruit is the key to getting enough calories. Start out your day with fruit as well as into the early

afternoon. Not just 1 or 2 pieces of fruit, eat a good amount to feel comfortable.

And avoid getting your main source of calories from nuts, seeds or butters. Doing this is one of the main reasons that so many fail on a raw food diet.

Next, mix fruit with greens and a little fat for your afternoon and evening meals. Make big salads and mix them with a simple raw dressing. Make green smoothies. Make mixed green vegetable salads with raw salad dressing.

For more tips on Raw Food Meals visit http://Raw.LearnHealthyMeals.com Copyright Mark Idzik

D is for Definition

• The amount you earn per hour is what matters
• Why are you working – how valid is your motivation?
• Take 5 minutes to define your dreams
• Take another 5 more minutes to discover your nightmares

(we will do  more to avoid pain)

E is for Elimination

• Make your to-do list for tomorrow today
• Stop all multitasking immediately
• Force yourself to end your day at 4 pm, your week on Thursday
• Go on a one week media fast
• Check your e-mails only twice a day
• Return calls (great agents return calls, they don’t take them!)
• Never have a meeting without an agenda
• Don’t be afraid to hang up a “Do not Disturb” sign

A is for Automation

• systems
• passive income
• delegation

L is for Liberation

• There’s a saying that goes like this:  ‘instead of focusing on freedom of choice, focus more on the choices that will bring you freedom!‘
• Implement the above steps! Enjoy a liberated life.
• Choose to be disciplined and accomplish your goals and dreams!

A FINAL THOUGHT:

Find something else to do with your created free time that is more important to you than working:

Travel

Hobbies

Sports

Relationships

HERE’S TO A LIBERATED LIFE!

Your Value Proposition is a list of significant items which you offer as part of your suite of services as a brokerage.

Every brokerage is different even within the same brand.  Defining your specific points of differentiation is important in order to define uniqueness.  If you are like everyone else you will be forced to compete on price.

Successful real estate professionals define themselves using a listing presentation.  Coaching some of the leading sales professionals in the world we have found that there is not one that says that they are like all the other agents.  In fact they are very passionate about what makes them different.  We need the same passion in articulating what makes us different as a brokerage.

Do you offer business consulting and coaching?

Do you assist your agents in building business plans?

Do you host in office events that your sales associates can leverage to call their databases?

Does your office host training functions?

The above mentioned items represent just a sample of things that can be unique to you.  Take the time to define what makes you unique.  Identify those items on a chart.  Quantify the benefits specific to a prospective sales professional.

We are not all the same.  Be clear in defining that and set yourself apart from the rest of the pack.

Lactose Intolerance…some people have this because they lack intestinal lactase; an enzyme used to digest lactose (milk sugar).  All baby mammals produce lactase but production of the enzyme declines or may even disappear after weaning.  In some humans, production of lactase continues due to a mutation or recessive gene.  This is why some people can tolerate dairy products and others not.   Another reason for lactose intolerance is overuse of antibiotics.

So what are some ways to help the body digest these proteins and lactose?  The process of fermenting sour milk partially breaks down lactose and predigests casein (milk protein); this gives the end product of yoghurt and kefir .  Butter and cream contain little lactose or casein and can usually be tolerated in the natural state.  However, those with extreme intolerance for milk protein can consume butter in the form of ghee (clarified butter).  Cheese contains a high amount of concentrated casein and best to be completely avoided.  Some cheeses are more easily digested when made from raw milk; they contain a full complement of enzymes.  Natural cheeses, whether pasteurized or unpasteurized are more digestible when eaten unheated.

Unable to find ghee (clarified butter) in your health food store?  No problem, you can make this at home using organic, unsalted butter.  It can be made in either method.

Stove Method

Melt unsalted butter in a heavy-bottom saucepan stirring constantly to prevent burning. When melted, reduce heat to minimum and let simmer undisturbed until three distinct layers form:

1. Bottom: solidified gelatinous protein layer, slightly brown;

2. Middle: clear golden liquid (the ghee itself);

3. Top: whitish-brown crust.

Allow ghee to cool.  Using wide-mouth jars, strain ghee through a fine sieve lined with a double layer of cheese cloth (or extra fine sieve alone).  An optional addition of 2 pieces of clove buds adds a pleasant flavour and prevents molding during storage.  If you are not dairy intolerant, use strained solids over potatoes or on toast. They are very rich in protein and have medicinal properties.  Takes approx 1 hour

for 1 pound of butter

Oven Method

This is an excellent way to make larger quantities of ghee for storage; however, patience and time are required as the preparation takes slightly longer.

Preheat the oven to 300^oF . Place unsalted butter in a heavy casserole dish and allow to melt and clarify without disturbing until the three distinct layers form. Let cool and strain (see above for details).

Making ghee from 4 pounds of butter requires approximately 2: to 3 hours.

In India ghee is considered as “brain food”; a source of mental clarity and energy. Ghee is said to increase the healing powers of spices and nourishing properties of foods. As a pure fat with a high smoking point around 375^oF, ghee is the only “fat” that can be recommended without any restrictions for baking, roasting, sautéing.

During the listing presentation, agents lose control when they allow the sellers’ agenda to take over the discussion.

The sellers’ wants to know 4 things:

1. They want to know what their home is worth.
2. They want to know what you will do to sell it
3. Then want to know what you will charge for your service.
4. They also will want to know what they’ll put in their pockets when the deal is done.

If you talk about the above before you’ve built trust, credibility, and value for your service, your chances of getting the listing are slim.

Set the Agenda from the start!

Here is a script that will facilitate you to stay in control:

“Mr. and Mrs. Seller, I have found this presentation order to be most effective for my clients.  It allows me to present to you the important facts, marketplace strategies, and benefits you receive as my client.  I will be happy to answer all your questions at the end of my presentation, so that you will be completely comfortable with your decision.  Would that be all right with you?”

Staying On Track

When the seller brings up a point that would cause you to abandon your presentation plan, pick up the agenda sheet and ask:

“Would it be all right to discuss that when we get to this point in the presentation?”

Your agenda may look like this:

1. Agenda for the meeting
2. Visual inspection of the property
3. Discuss clients’ goals, needs, and expectations
4. Discuss your professional credentials
5. Present your value proposition
6. Determine listing price and establish commission rate
7. Complete the paperwork

The last item needs to be on your agenda.  It alerts the client in advance that you are going to close.  In fact, follow this format for all steps; don’t move or rearrange them. You have to build trust, credibility, and value in that order.

Asking For the Order

After you have overcome the seller’s concerns or objections, ask for the order.  This means asking your prospects to do business with you.

Closing is making a definitive statement about your conviction that you are the right person for the job, and they should take action now.  A good closing statement goes like this:

“Mr. and Mrs. Seller, based on your goals, needs, and expectations, I am confident that I am the right person to handle the sale for you.  Let’s get started now!”

As you say, “Let’s get started,” you slide the listing agreement in front of them.  Hand them the pen to sign with and smile.  Stay quiet!  Don’t say a word.

Bringing the Presentation to a Natural Conclusion

Following any major sales transaction, people feel a bit of uncertainty, a feeling of, “What did I just do?”  Pre-empt fear by addressing and controlling concerns.

Before you leave the meeting, recap what steps will happen next and what you will be doing for your clients in the next 24-48 hours.  Then reassure them that they made a great decision, that you look forward to serving them and working with them, that the goals they set will be achieved, and that they selected the right agent for the job.

Are your financial models consistent with your corporate objectives?

It is one thing to have a goal as to how much profit we would like to earn in our business, it is another thing whether or not it is achievable based on our current compensation programs.

Step 1: Clearly define how much contribution you need to earn per associate

Step 2: Define the average gross commission income per associate in your office

Step 3: Review your compensation programs and measure at what G.C.I level you need them to achieve in order for you to obtain the contribution objective

Example:

Minimum contribution goal per associate:  $15,000

Average office production in G.C.I: $40,000

Example Compensation program:  70/30 till $50,000, then 95/5

Calculation:  $40,000 x 30% = $12,000 in contribution

In the above mentioned example the compensation program has to have a minimum production standard of $50,000 in G.C.I ($50,000 x 30% = $15,000)

Earning $12,000 per associate in this example will cover your fixed and variable costs however it leaves little profit.  Every contribution dollar in this example above the $10,000 to $11,000 is pure profit.

It is important to establish minimum production standards for each offering.  Don’t be afraid to clearly articulate your minimum contribution objective.  It is imperative to monitor the key economic denominator of your business in order to succeed.  As the business adage says, what you measure gets improved!

Call today and let us help you do a “Strategic Audit” of your business to help you clearly define your “Per Person Contribution Objective.”  It is the foundation to success!

Ever heard of the saying ‘keep your friends close, and your enemies closer’?  What would that mean for you in your business?  Answer:  you must know how you rank next to the competition!  In order to know that, you must know your competition’s numbers and statistics as well as your own!  Once you’ve obtained that information, you now have the ammunition needed to present yourself to your prospective clients and handle any objections that they may have about you.

Here are 4 steps to the process:

1. Learn the Big Three stats:

1. 1. average list price to sales price;
   2. average days on the market; and
   3. average listings sold versus listings taken

Know these numbers; the average in your marketplace and for yourself.  See where you rank against the competition.

2. Be confident!

How you present your argument and the level of confidence and conviction you have in your beliefs can make all the difference between obtaining the listing or walking out empty handed.

3. Convince your prospect of your advantage.

If you are new to the business, your approach would be about how working with you and your brokerage would be to their advantage.  Beef up the advantages of the brokerage to take away the focus of you being brand new.  Collect the stats for your office and use these stats until you create your own.  Be focused, passionate, and confident of your abilities – and that you have a full service brokerage backing you up.  Explain that personal service, attention to detail, and creation and conversion of leads would sell their home, and that you are the agent for the job.

Ask:  “Do you see the benefit of working with a person that pays personal attention to your needs rather than being passed off to ‘a team’?  Isn’t this type of intimate relationship what you are looking for?”

For those of you that do have a team; your argument would be different. You would explain to clients that one person couldn’t possibly do with skill and precision all the activities that a seller/buyer needs and should demand from an agent. A single agent can’t possibly provide level of exposure, communication, customer service, and expertise that the team of experts you represent could deliver.

Both positions are truthful and have merit.

4. Use numbers to demonstrate the clear advantage you present to clients.

If prospects can’t see a clear difference between you and other agents, they will gravitate to the basics, which is to select the agent offering the lowest commission rate or highest initial list price.  Provide visual charts and graphs to tell the story.