One of the biggest mistakes new or struggling agents make is they spend too much time pursuing low quality leads. They believe that working with any prospect is better than no prospect at all.

Problem is, unqualified prospects rarely turn into income-producing clients. Nothing is more frustrating than investing large amounts of time, money, and energy with buyers who ultimately flake-out on you, get cold feet or end up working with another agent.

The secret to maximizing your income per hour practicing real estate is to “qualify” each buyer lead that comes across your desk before spending your valuable time with them. And the ONE item you want to qualify is…

Their True Motivation to Buy

How do you understand buyer motivation? By simply asking the right questions, then close your mouth and listen carefully.

Here are 7 “motivation-detective” questions you can use to screen buyer leads (some of them will work for sellers too). They can be used as a “phone script”, in person or even by email…

1. Why Are You Thinking of Buying?

Determine their legitimate reasons for buying: Move-up, empty nester, retiring, first time home buyer, investment, relocation, job change, lost job, etc. It also gives you an early indication if they’ll be a good client or a “time-waster.”

Also look for the “common connection” with the caller (kids go to same school, go to same civic organization or church). When you find something in common, or discover specific needs, communicate how you share the same interest, or have a specialty in what they need.

Your goal with this question is to begin building a relationship. While they’re talking about their life situation, identify a bridge to your unique services…how you can help them with their problems. As the conversation progresses, you can use this information to convert them to an appointment, that is, if you conclude the lead is a motivated buyer.

2. What Type of Property Are You Looking For?

This question identifies multiple things at once that you may not realize at first glance. If you ask this question and the response is that the potential buyer is looking to invest in a foreclosure…

• You can identify in your mind where you might look for foreclosures in your market area and how long it might take…
• You can identify how you might be able to help them (if your expertise is right for them)…
• And you can identify if they are realistic in their desires.

For instance, an unrealistic buyer may want to buy a foreclosure that needs some repair work to get a better price, but doesn’t have any extra money to do the repairs. You’re job is to identify any disconnect that could lead to you wasting your time.

You’ll end up frustrating them (and make yourself look foolish) if you show them homes that require no repair work but are out of their price range. Or, just as bad, showing them homes they can afford but that need immediate repairs (for which they don’t have money).

Don’t worry about getting every last detail of their search criteria now. You’ll get more information from them if you meet in person. Your critical objective is to see if they are motivated, realistic and a good client that provides a paycheck and not the run-around.

3. How Soon Do You Want To Be In Your New Property?

If it doesn’t come up in the discussion from the last two questions, ask this qualifying question to determine the time frame of the potential buyer.

You can also ask, “How Long Have You Been Looking?” If they’ve only been searching for a couple months and don’t have an urgent reason for moving, they’re probably not motivated enough to commit your most precious asset: your time.

If the prospect doesn’t want to move soon (generally in the next six months), you’re wasting your time meeting with them in person. You can still put them on your contact database, give them market updates, and send them your regular monthly newsletter… keeping in touch and developing a RELATIONSHIP with them until they’re ready to buy.

Wait to meet in person at a later date once their time frame is less than six months.

4. Have You Bought A Property In The Past?

You’re trying to gauge if they are familiar with the home buying process. Understanding how knowledgeable they are will allow you to better communicate your value in helping them in their search.

You may already know the answer to this question from prior discussion with the prospective buyer. This is a golden opportunity to highlight common problems and frustrations with the home buying process and to present your unique solution.

If they’ve bought a home in the past where the process seemed overwhelming and they didn’t think they got a great deal…Inform them of your buyer process that will find the perfect home for them, at the right price, and without the common hassles they’ve had in the past.

5. Have You Been Pre-Approved?

Notice this question doesn’t say, “have you met with a lender?” or “have you been pre-qualified?”

It asks about “approval.” Why? Because when your clients are pre-approved, you know 1) they’re serious about buying, 2) you know how much money they’re able to spend, and 3) they’re ready to buy NOW.

Chances are they are not approved, so you need to get them approved before moving forward. The best way to motivate buyers to go through the approval process is to say,

6. Are You Working With Another Agent?

You don’t work for free! Ask this question above early in the conversation to determine if you should even continue…

• If the person is working with another agent, you can ask them if they’ve signed an “exclusive” Buyer Broker Agreement.
• If they already signed an agreement with another agent, ask them why they’ve called you instead, and then explain that their agent would be better to answer questions.
• If they are unsatisfied with their current agent or their agreement with another agent is ending, investigate how you can help them.
• If they are NOT working with another agent, continue directly to the next question.

7. When Can We Meet To Discuss Your Property Search?

Notice the question was not, “can we meet…?”, but “WHEN can we meet?” Why? Because the latter question leaves little room for a “no” answer.

This is the ultimate way to determine how serious the buyer is in the search, because if they don’t want to meet in person in the next week, they’re not ready to buy and will waste your time.

Here’s a tip: try to meet in your office if possible. This way you will have control and can present your services, make copies of documents, and have their full attention.

Your time is valuable. Guard it like Fort Knox. Properly qualifying buyers is one of the quickest ways to reduce the number of hours you work, get your commissions faster, and maximize your income per hour.

[Ed. note: To find out how to work with the highest-quality buyers and sellers, learn more about our new program Superstar Closing Secrets™ by clicking here...]

The other day I was having a phone conversation with a business acquaintance. I told him I was about to write an article for our community.

He asked me what I was going to write about. I told him I didn’t have a specific topic picked yet.

So he piped-up and asked, “Well, what do you feel like writing about?”

And that’s when it hit me.

See, the truth is…I didn’t “feel” like writing about anything. I didn’t feel like doing any work. And the honest-to-goodness truth is…I never “feel” like working.

Right then I discovered a revelation that differentiates the most successful and productive people from the “wannabe’s” in our society.

Most people believe they need some motivating force or driving inspiration in order to accomplish an important goal or task.

But I have a very different philosophy. Actually, it’s not a “philosophy.”

It’s is a time-tested, hardened and proven fact that separates those who achieve amazing success, live productive lives, make huge amounts of money, and enjoy the true richness of life itself…from everyone else.

And it’s this…

Inspiration Does Not Create Action,
ACTION Creates Inspiration

Most people have the formula backwards. They think that, as soon as they get inspired or motivated, they’ll go head-long into action.

Yet the opposite is actually true.

See, I don’t wait for “inspiration” to show up. If I did, I’d still be waiting. Instead, I MAKE myself start taking action. Because long ago, I realized…

The First 10 Minutes Of ANY Task Are
The Most Difficult. After That, It’s Gravy

I also realized long ago that the best and worst thing about being self-employed was the same thing: I’m my own boss.

And as a boss, I’m never going to get anything done from myself or my employees without some kind of structure, organization and accountability.

And neither are you because…like it or not…you’re self-employed too. As your own boss, you won’t get much productivity from yourself without structure, organization and accountability.

Let’s take, for example, the process of calling 100 of your house list members just to check-in or make sure they’re receiving your Service For Life!® contact (a simple exercise, by the way, that has proven to yield hundreds of thousands of dollars in referrals, etc., but that’s another story for another time).

If you need to make 100 calls, and you know each call will take you, on average, 6 minutes, then you need to make an accountability of 600 minutes to get the task done.

That’s 10 hours, or about a day-and-a-half. See, if you don’t actually set that goal, and establish some kind of accountability, it’s going to take you 40 hours…and maybe longer (or never at all)…until you “feel” like calling those people.

If you’ve been a member of our community for a while, you’ve seen some amazing marketing ideas, business-building techniques and helpful advice from me and other members over the years.

But the difference between those who actually see results (incredible results!) and those who just collect a “library of potential” will come down to a simple “Planning and Executing Technique” that involves 3 simple parts.

And because (above and beyond anything else) I want you to achieve great results in your business and life, I’d like to share with you a powerful process for achieving any size goal you ever desire.

Here are the 3 parts…

1. How Well You DEFINE What Your Business, Life, etc., Will Look Like “When It’s Done.”

2. How Well You ORGANIZE and PRIORITIZE The Shortest, Most Direct Route To Accomplishment

3. Your COMMITMENT To “Focused” Implementation

Let’s look at each one of these parts individually…

DEFINING Your End Target:

Talking about focus on “getting things done” is worthless if you don’t know WHAT needs to be accomplished.

One of the most frequently asked questions I receive from agents who get our 3-Steps system is, “Where do I begin?”

Knowing the answer to this question is essential, and frequently I can’t answer it because it’s different for each person. Why?

Because each person has different goals for their business and life.

The best place to start is to ask two questions:

The first is, “What am I committed to achieve in my practice, life, etc.?” What specifically do you want to happen?

The second is, “What is the MOST IMPORTANT thing (or few things) I can do reach that goal?”

Talking about focus and accomplishment is meaningless if you don’t know what to focus on…what’s important. If you’re having trouble deciding what you need to do first, it’s probably because you aren’t clear about where you want to go – your goals.

Once you know exactly what kind of business or life you want, it becomes infinitely easier to make DECISIONS between the various options and activities to get there.

An Amazing ORGANIZING and PRIORITIZING System:

Once you’ve determined “specifically” what you want from your business or life, the next step is to focus on getting pre-determined, USEFUL things done – emphasis on “done” every single day.

I want to introduce you to a remarkable technological breakthrough. No it’s not a calendar, computer, organizer, software, Blackberry or the endless parade of tools and gimmicks out there.

In fact, you only need to invest about 25 cents for this tool. It’s a little wooden stick with lead in the middle. There’s no cord. No recharging. No software. No battery needed. No uploads or downloads. No support required, except for a sharpener.

Yes, it’s called a pencil. Here’s what I do to transform this simple instrument into a powerful success tool…

At the end of each year (usually November or so), I decide exactly what I want to accomplish in my business for the next year.

I first make a strategic assessment of where we are, what markets we want to pursue, where the opportunity exists, what threats are looming, what the competition is doing, new product opportunities, etc.

I call this an Opportunity Analysis. I’m looking for the opportunity in my business to grow, but this could easily apply to personal goals as well.

Once I’ve gathered my information, I then take out a sheet of paper and make a list of only 4 to 6 Major Outcomes I want to have happen, say, within the next year (you can use whatever time frame you want).

They may be new products, new revenue streams, or entirely new businesses I want to create. Or they may be improvements or advancements I want to make with existing products, etc.

Anyway, I make the list of 4 to 6 Major Outcomes (I also assign revenue or profit goals to them as well, so I can see the payoff to my efforts).

Then, I take that list, and I take ONE sheet of paper for EACH Major Outcome – so I’ll have 4 to 6 sheets now.

At the top of each sheet, I write down the name of the project, task or product to be accomplished.

Then I ask myself, “What needs to be completed to make this major outcome come about?”

Again, I make the list. Then I prioritize the list.

I now have 4 to 6 sheets of paper, each with the major outcome at the top, and a list of all the things I need to accomplish to bring it about. Depending on the complexity of the prioritized tasks I’ve listed out, I will next do something else.

I take each one of those 4 to 6 sheets of paper with the prioritized tasks, and I make a list of what needs to be accomplished for EACH ONE of the prioritized tasks on each sheet.

I call these Minor Outcomes.

So, in essence, I am breaking down each of the major goals into prioritized tasks. Then I break down each one of the prioritized tasks into sub-tasks, and on and on.

Do you see what I’m doing here?

I’m Taking A Seemingly IMPOSSIBLE Goal And
Breaking It Down Into A Simple, Easy-To-Accomplish
ROADMAP To Success!

Remember the old riddle, “How do you eat an elephant?”

The answer: One bite at a time!

You can actually take a complex business, and break it down, further and further, and assign a time line, thereby breaking it into weekly or even daily manageable tasks.

I break my prioritized tasks into monthly goals, then weekly goals. Then, every Monday I make a LIST of what needs to be accomplished that week.

Now, rather than becoming overwhelmed with a seemingly insurmountable goal, I have a simple, easy-to-achieve plan.

Do you see the power in this simple little exercise?

Heck, you can use this process for ANYTHING in your life. Going on a trip? Use this technique. Remodeling your home? Use this technique. Building a real estate practice?

OK… you got the point. Oh…by the way, here’s another little secret about all this (speaking about “effectiveness”):

Your Income Will Increase Proportionately To The
Percentage Of Your Time Shifted From All Other
Activities Combined…To MARKETING!

Make a note. Measure yourself. Become accountable for results.

Marketing creates results; everything else is a cost or overhead to be managed.

OK, a quick review: You’ve determined your overall objective.

Then, you’ve taken your high-tech pencil out and made a prioritized ROAD MAP of Major and Minor Outcomes to be accomplished (you can even break it down into weekly or monthly or daily outcomes).

But we’re not finished.

There’s ONE MORE thing you need to know as part of our 3-Step technique for accomplishing more in a week than most people get done in 3 months.

Actually it’s at least as important as any of the other steps. I make…

An Unyielding COMMITMENT To FOCUSED IMPLEMENTATION:

There are 2 road blocks you will encounter during this process.

The first is distractions created by YOU. And the second is distractions created by OUTSIDE FORCES.

Let’s talk about OUTSIDE FORCES first. Outside forces will steal your goals like a thief in the night. They are usually created by people, but not always: phone calls, emails, faxes, personal interruptions, the overflowing toilet, and more. And they are deadly.

The only way to manage these interruptions is…

Get Yourself A Stun-Gun And
Threaten Anyone Who Comes Near!

Yes, this includes clients too.

YOU are your most important asset to be managed. If you want to know the secret to time management, it’s this:

MAKE AN APPOINTMENT with yourself (1 hour,
2 hours, 3 hours a day) to get the most
pressing things DONE each day.

And NO ONE will steal your time away from YOU! Not Oprah. Not your broker. Not your pestering client. No one!

Focus On THE LIST!

I turn my phone off. Shut the computer down (unless I’m writing, like now). Forget about the 7 email accounts we manage with messages from people who “insist” someone respond to their email within 15 seconds because “I sent it by email…where are you??”

I focus on the list. Whatever “new” happens today has to be sorted through after today’s list is done, and put on tomorrow’s list, next week’s list, or someone else’s list, or no one’s list.

But today…today’s already booked.

Now, let’s talk about the second distraction: YOU.

In fact, this conversation brings us full-circle to where we began at the beginning of this article.

It’s all about the “feel like doing” thing.

Truth is, much of the time you won’t “feel” like doing anything – let’s be honest about it.

BUT…mature, successful individuals FOCUS (that word again!) on desired results, not necessarily desirable, enjoyable or easy activities.

Immature, struggling people focus on the acceptable activities and sacrifice results in favor of less taxing, easy or comfortable tasks.

But if you’ve created your plan as I mentioned above…and you have a strong, emotional picture of the PAY-OFF of your efforts, it becomes easier to break through these personal barriers.

Successful People Set Pleasing GOALS
Failures Set Pleasing TASKS

Successful people control their time and limit or eliminate distractions from themselves and others. It’s your choice.

And if you want to know one more tip for how I manage my time, I use a simple personal formula:

If it will help me get closer to my goals…or make more
money…or will PRODUCE something rather than
CONSUME me or my time…I will deal with it.

If not, it goes on tomorrow’s list. Or no list at all.

If you let yourself be bossed around by all this stuff, you’ll never be rich…and you’ll never be truly free.

Of all the systems I could share with you…of all the marketing and business-building ideas we’ll cover over the next few years…none of it will do any good unless you have structure, organization and accountability to GET IT DONE.

Would you like to know how experts stage homes to get them sold fast and for top dollar?

Today I’m going to show you a step-by-step process for staging both the inside and outside of homes you list.  Now I know you’re probably experienced in staging, but the ideas below will probably shed some light on important areas you may regularly miss – so at worst it’ll be a great reinforcement for you.

But before I share the steps for staging success, there are 3 rules you should know about dressing homes for sale:

Rule 1:  Most buyers are very literal.  They only know what they see.  They have very little imagination.  You must create their imagination for them (via staging) to sell effectively.

Rule 2:  First impressions are lasting with buyers.  Buyers decide whether they like or dislike a home within seconds of entering.  It either hits them or it doesn’t.  You must enhance the first impressions of the home.

Rule 3:  Your home will sell because of emotion, not logic.  The only way to stimulate emotion is to make your home a place where people can really “FEEL” at home.  Make it warm and inviting.  Emphasize the special benefits of the home and lot.

Remember not to talk about dressing the home with sellers, or improving home deficiencies until AFTER you have taken the listing.  People can be very sensitive about their personal belongings or how their home looks prior to staging.  So let’s begin…

STEP #1:  Assess the Current Situation

Be honest with sellers about what needs improving.  You’re a team now.  If a floor is marred or a room needs painting, say so.

Also, let your clients know that there’s a difference between how they live in a home, and how we show it for sale.  They may need to change their home and lifestyle for a short time to accommodate this rule.

For the outside, take a walk across the street from the home.  Examine the curb appeal of the home.  Make notes of items that are unsatisfactory from a buyer’s perspective.  Remember, buyers are very literal.

You can even tell your sellers to get into their car and start driving away from their home.  As they do so, ask them to take a look back at their home.  Make notes about what looks good, and what needs improvement.

STEP #2:  Eliminate Clutter

The key to showing homes effectively is getting rid of clutter.  Make counters clear, get rid of pictures on the wall and tables, store excess furniture if necessary, put books in boxes.  Your clients are doing this anyhow for their move, they just need to do it a little early.  Here are other household items to put away:

• Clear away kitchen and bathroom counters.  These are areas where you need to show the most space and neatness.  So put appliances and kitchen-items away.
• Re-arrange furniture so rooms look larger.  Store old furniture or cluttered items in another location — at least while the home is for sale.
• Get rid of as many “personal” things as you can.  Buyers have a hard time visualizing “their” new home with the seller’s personal belongings everywhere.  Try to make the home look neutral, as if you don’t know who lives there.

And just like the interior, you need to get all the clutter out of the yard.  Put hoses away, store garbage cans, put away the sprinkler and kids toys.  The neater the area looks, the better the first impression.

STEP #3:  Spruce the Home Up Before Showing

Make improvements to the home, but only where it will make the biggest difference to the sales price.  Getting the biggest bang for your clients buck usually means getting a fresh coat of paint on strategic walls and areas.  New paint is an inexpensive way to show a home.

Check the paint condition of the INTERIOR of a home by removing pictures off walls.  It will probably need painting.  Remember to get inside painting done first, before any cleaning.

Check the paint condition of the entire EXTERIOR of the home.  If it’s pealing or worn, the buyer will notice it immediately.  Don’t devalue your home by trying to sell it in poor paint condition.  Pay particular attention to the front door, mailbox, garage doors, and walkway areas.  These are where the buyers will be walking and noticing problems.  You should also consider the following items with sellers:

• Professional Cleaning.  Get a professional firm in to CLEAN the entire home.  Floors, ceilings, windows, fireplace, carpet, drapes — everything!  Also, check for ODORS.  If the owners have a pet, they’re home probably needs to have carpets cleaned or deodorized.  Any odors make a home less attractive.
• Home Inspection.  Check for termites and functional obsolescence.  Many homeowners actually have their home inspected prior to putting it on the market.  It makes a good impression to the buyers when you have your own inspection completed by an independent company.  It will also save embarrassing situations with buyers who discover problems.
• Landscaping.  The landscaping should look immaculate.  Make sure the lawn is groomed, flower beds are clean, leaves are removed, and weeds are pulled.  Check the bushes and trees for grooming also.

STEP #4:  Show the Home In the Best Light

Always turn on the LIGHTS when showing.  Tell your clients to turn on all lights around the home before a buyer gets there.  If you show the home, make sure you turn on as many lights as you can for the buyers.

These include the mailbox light, front door, entry (especially if the entry is dark), and dark hallways.  Make your home alive, by being inviting and bright.  Bright homes sell better than dark homes.

Leave all front area curtains and drapes open.  Have you ever seen model homes?  The drapes are always open at night, and the lights are on.  Why?  Because it shows the home better.  Also, when you keep drapes open during the day, people touring through the home will experience more natural light.

BONUS TIPS:  After you complete the dressing of the seller’s home, you need to make 2 statements that will help set the stage for your relationship.  You want to say the following:

1. You may get some agents not showing your home because of the listing price.  At this time, don’t worry about it.  But if we get too many, we’ll need to revisit the issue.

2. You will get offers all across the board.  There are those who just make low offers to see if a seller will bite.  Some may be as low as 20% below your listing price.  Regardless of the price or terms of the offer, let’s make sure we examine and discuss all offers that come in, OK?

You may want to type up a list of home-staging items for your sellers to address.  You can use this 4-step process as an outline to work with sellers, get more offers, and sell your listings faster.

[Ed. note: To find out more about how to sell your listings faster including the best strategies top agents use to get price reductions, learn more about our new program Superstar Closing Secrets™ by clicking here...]

Would you like to know the painless, 4-step process to get price reductions and sell your listings in record time?

Well, take just a couple minutes to review the steps (and sample scripts) on how to have a successful price reduction meeting with your seller-clients.

The best time to “set-up” a price reduction is when you take the listing (you already knew that, right?).  But if for some reason you’ve taken an overpriced listing and need to get a reduction, you can use this process to correct the situation – and save yourself months of carrying expenses.

Here’s how to do it step-by-step…

Your price reduction meeting with sellers will be similar to your original listing presentation, except you now have accurate, historic information about the seller’s home.  In my program Superstar Closing Secrets™ I give you a “cheat sheet” for this important meeting with questions and responses to establish control.

STEP 1:  Present an Updated Market Analysis

Before the price reduction meeting, you’ll need to prepare an analysis similar to your original CMA (or “Maximum Home Value Audit™”).  During the meeting, compare your seller’s home with all of the other listings, pendings, and sales in the area.

Analyze other statistics such as average time on the market, price ranges, list price to sales price reduction percentage, and the percentage or number of listed homes sold during the same period as the seller’s listing.  After presenting the market analysis, ask your clients 2 questions:

STEP 2:  Present Your Completed List of Marketing Tasks

Go through your original marketing plan, and discuss every action you’ve taken to market their home.  Explain the impact or exposure of each action on generating prospective buyers.

You can also explain the historic impact each task has had on selling other homes you’ve listed, or homes sold in the area.  Your objective is to reinforce the seller’s confidence in your ability to market their home.  At this point you want to ask another 2 questions:

Some sellers value open houses, others want to see more agent showings — everyone makes their own expectations, logical or not.  Listen carefully here.  You can adjust your marketing plan to better fit their expectations if it’s warranted.  Nevertheless, the sale issue will always come back to pricing the home — the seller’s responsibility.

After the sellers finish sharing their thoughts on the marketing of their home you can move on to the feedback you’ve received…

STEP 3:  Present Feedback and Areas For Improvement

Take out the comments you have from touring agents, showings, and open houses.  Review the comments relating to price and showing condition of the home.

These comments are very important because they are honest, third-party opinions about their home.  Sellers may get a little upset at this point, but it’s important they hear feedback that will better motivate them to sell their home.  At this point, you want to ask the following question:

If some of the comments made require physical improvements to the home, you need to open that discussion and start making plans for improvements.  But, don’t get the issue confused — there’s still a price issue to be discussed…

STEP 4:  Ask For The Price Reduction

The first thing you want to tell sellers at this point is you’re doing everything possible to promote the home, as shown from the activity and marketing plan.  Second, tell them that your efforts will be fruitless unless "we" adjust the price to get closer to buyers expectations.  Then tell them the following:

IMPORTANT TIP:  Notice I used a percentage, not a dollar figure?  Percentages are more relevant and palatable when making adjustments.  Clients will probably want to know how much that means in dollars, and you should tell them, but present it first as a percentage.

Then ask the following question:

At this point, they’ll either say "OK", or they’ll have common objections.  Remember, objections are just unanswered questions revisited.  Handle each objection keeping in mind that seller’s have many emotional attachments to their homes, which can compromise their rationality.

And one final thing…don’t forget to complete and sign the agreements for the price adjustment AHEAD OF TIME.  Keep the “price” field empty, but complete the rest of the agreement.  You’d be surprised how many agents forget at the end of this long (but now much easier!) process.

[Ed note:  If you'd like proven answers to price-reduction objections, learn more about our new program Superstar Closing Secrets™ by clicking here...]