Property News & Market Trends

Millionaire Agent - Part 2

The most agonising first step to a millionaire agent's work style - how to start right?

1] Don't just follow what everybody does.  Copy the successful ones only.

Destroy all previous actions, thoughts, knowledge you learn or picked up that don't work. If you do the same things the same way as what you did over the last 12 months, how can you expect better results over the next 12 months?

Negativities & Positivities - the conditioning of your mind Evaluate the 'negativities' (non-productive activities) that swallowed your precious time, efforts and resources. Spot the 'positivities' (productive activities), refine them and increased their frequency.

Do it now. Stop reading. Evaluate just 5 of each now. I mean right now.
5 Negativities that derail me from my goals. (samples below)
- drink coffee with fellow agents to lament on market negatively
- watching TV instead of spending time on doing market research
- reading newspaper/magazines, non-essential emails, surfing websites or 'msning'
- doing paper work during productive time
- distributing flyers, door-knocking, cold-calling.
The above are just samples for you to think about. It may not be 5. Just go along with the thoughts. You may amend as you work along.

5 Positivities that boost my speed towards my goals.
- Focus on a specialty and be an expert, no less
- Do calling, emailing, smsing, msning during appropriate time, to the right target group with attractive contents
- Wake up early for physical fitness; staying fit is crucial for extended battle
- Do market research to enhance the accuracy of target market instead of wasting energy & resources with carpet bombing
- call at least 15 people per day...
Great. Don't just stop there. If you can find more, do it. As you work along, you may further refine them. Now, think of your strategies - is it a trap or a goldmine? Take out a piece of paper. Draw a line down from the centre. On your left, write down Traps as your heading. On your right, write Goldmines.

Let's analyse the strategies you may have now and write them down. What strategies or actions have you embarked on last year that don't work? Put them in as Traps. You want to avoid them. If they work for you in some measures, put them down as Goldmines. You want to dig deeper into these.

Alright, you're new and you have no experience. No problem. Write down those methods that were taught to you. If you think they will work for you, put them in Goldmines, if not they go to the Traps. You don't need to know everything before you start. It's like learning to swim by yourself. You learn from mistakes and failures. If you have a reliable mentor, good for you. If not, that's normal. Everybody needs to make a living, so does your manager. They can't be teaching, guiding and mentoring you with a 0.5% over-riding. They rather do their own deals.

However, when possible, offer 30-50% of your commission to your mentor/manager for the first few deals. That's tuition fees. It's worth it. Think long term. Once you break the ice, you'll benefit more than you had given. However, if you think that's too much to bear, then learn the ropes yourself. Don't be afraid to venture out by yourself. Even veterans make mistakes. So stop your fear from devouring your enthusiasm.

As you go about your work, preferably carve your own niche if you can. It's easier to be focus and be a 'somebody' specialist in one area than be an 'anybody' generalist everywhere. You'll end up being a nobody. Set your own objectives; be it sales or rental, HDB(preferably for new agents) or private, Commercial or Industrial.

You can make it if you have a burning desire to succeed. If you still lack that burning sense. Go back to the beginning to get your mindset right. Unless your mindset is right, everything will go wrong. The mindset is what separates a millionaire agent and a mediocre agent.

The most satisfying moment - your first deal closed!
This is an ice-breaker. If you're already a veteran, then satisfaction come when you surpass your target. Just a few pointers to motivate yourself:  Tell yourself:
- the taste of success is only a deal away
- your success may be just after the next obstacle!
- nothing is more worrisome than not closing; except not doing it
- you win by persevering, not quitting.
Finally, ask yourself again - Did you really burn your bridge or did you leave an escape route just in case?

2] The 4 Hurdles of a Agent to a Millionaire agent.

The most important thing for an agent is sales. But without supplies, what do you sell? Simple. Serve buyers.

The First Hurdle - finding a client, should I find a buyer or a seller first?
My first recommendation to new agents would be to serve buyers because it's much easier. Serving sellers/owners requires a minimum amount of knowledge & skills coupled with lots of perseverance & effort. Whereas serving buyers only require you to find potential properties for their considerations.

Of course it takes a lot of effort but looking for buyers can always start with your circle of influences. And it cost you almost next to nothing. No advertising or marketing cost at all. If you have no budget or a low budget for advertisements, then you have no choice but to start with buyers or tenants.

Serving buyers has its advantages but beware of committing a deadly sin that brought many new or inexperienced agents to their own demise. Please bear this in mind.

BE WARN: NEVER END UP BEING A TOUR GUIDE!

A salaried tour guide gets paid. An agent will not. So, avoid being one. Learn to qualify a buyer. Make sure he is not a shopper but a serious buyer. Preferably, keep them in view if they are investors. There's a big difference. Investors have no urgent need, they can wait. A buyer has got a deadline, a budget and specific preferences. Even if you have a buyer, you must probe and find out who is the [MAN].

M - the one with money and signs the check.
A - the one who has the authority and makes the decision.
N - the one with the needs and states his preferences.
The above means that a MAN can be a woman, a child, the mom or dad. Practice with your friends. In whatever decisions that involve a family, different characters play different roles. Once you had concluded the MAN, you're on the way to serve. For goodness sake, don't bring them to 12 properties! It's too wide a choice. You're not a tour guide, remember?

Another word of advice; being an agent is a business, not a charitable act of kindness. I know of agents serving sellers going all the way to paint, tidy & decorate the house just to make it a better impression for buyers. You don't need to do that. That's a labourer's job. So, be reasonable to yourself, show your buyers the best 3-5 properties you have decided for them. That would suffice. Your objective is to help them make a wise decision, not the best decision 'cos the best decision will never happen.

Let's talk a little more about probing. This process is like an art of catching chickens with bare hands. You don't catch chickens by chasing them, do you? You corner them. How do you do that? Easy. You scare the chicken into a corner by blocking off their escape route. This is probing. You ask questions that lead your customer into a corner so he has to make a decision as follows;
- (for buyer)So what do you like about this home(not property)?
- (for seller)How did you come about this selling price?
- (for tenant before viewing)What would be the deciding factor to select your place?
- (for landlord)What returns are you expecting from this rental?

In any situation, you need solid database to convince your buyers of the best choice. One of the best system ever used by more than 6000 agents is PowerSearch by Hiwire. No, it's not the one mentioned by Mocca. PowerSearch has been around since 2003. Mocca's playing catch up. Well, if you're interested in how PowerSearch can help you jump the 4 hurdles, call Danny at 91889336. It's one of the most powerful system an agent must have.

Till then, we're cover the handling of sellers.
Bingo! U got a match!

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