A few things to think about this week that caught my attention; either the entire world is trying to sell you solutions to problems that have been invented, or making excuses for why people don’t perform their fundamental functions.
Realtor income is down year over year and some would have you believe it’s an inventory problem. Yup, a lack of inventory is the reason. Lack of inventory; gee, why could there be a lack of inventory? Is it because all the homes have vanished, or is it because agents aren’t out on the streets making the case for why now is the time to move into forever homes?
Seriously, realtors have two jobs, list property for sale and sell listed properties. If there is a lack of listed properties to sell, why aren’t more agents becoming Listing Agents instead of all the new “TEAMS” of buyer’s agents handling leads lists? Could it be that the industry has converted too many agents and too many hours focusing on chasing leads lists that they forgot to get out on the street and actually go list property?
I also think another fun thing to look at is the topic of call reluctance. You know call reluctance is just a term for procrastination or success avoidance don’t you? Seriously, why would anyone be reluctant to make a call? Only two things can happen, you get what you want, which is good; or you don’t, which is exactly what you had before you made the call? So why not just make the call? And for those of you using sly dial, you know you are just making an excuse for not personally connecting with your people right?
And while we are on the subject of making calls, here is a story from one of my clients in Arizona. He was making annual connecting calls with his past clients when something happened that I have never seen or heard of in my 35+ years in the business. He called a past female client that he had closed a loan for a couple of years earlier. He was just checking in to see how things were going when a male voice answered the phone. It was a bit of a surprise to my L/O as the young lady he did the loan for was single when he did the loan, but anything is possible! So he asked for the young lady by name.
The man who answered the phone didn’t know the person he was looking for so he just asked if he had dialed the correct number. As it turns out, it was indeed the right number but not now the number of his former client. The L/O identified himself and his occupation, then went on to say that the lady he was looking for was a past client he was following up with that he had done a loan for in the past.
Just when the originator thought the call was about to end, the man on the other end said, “Are you really in the mortgage business? I have been renting a long time and my lease is about up for renewal and was thinking about buying a home, is that something you might be able to help me with?” Clearly surprised, the originator said he could and the two began to talk about what the process would look like and what information needed to be assembled to move forward. The new prospect made an appointment to come in and meet the L/O, he wanted to meet not complete an online application, and they met the next afternoon. Turns out, that the prospect was very capable of purchasing something that would suit him well, but needed a recommendation of a Realtor to go and see properties with! That is special!
One follow-up phone call, one lost contact, one new prospect, one new referral, and the ability to complete the purchase cycle. Just by being complete in following through with his process, what would have been a simple wrong number turned into a special opportunity! Yes, you just can’t make this stuff up!
So think about all you hear and the reasons people are giving for not succeeding. You may very well need new systems or tools or processes; but you may just need to go back and do the basic fundamental tasks that help keep the person in the profession! Just think about it for a minute. What is the work I am avoiding and why am I avoiding it?
Questions or comments: Mike@IMTcoaching.com