Coaching For Real Estate Agents

Yesterday, I received a letter from Dan Kennedy asking me to discontinue use of the name (presumably) Magnetic Marketing.

He didn't exactly say the name was copyrighted by him, though he did confirm that he has used the name for a product and seminar offering and that the name "is attached to a considerable amount of copyrighted material, including not only generic but specific to real estate agents and brokers."

He goes on to indicate that he has used the name, Magnetic Marketing, with the real estate industry for over 10 years and expressed concern that my use of the name would create confusion in the marketplace.

To be precise, Mr. Kennedy accused me of "deliberate intent to cause confusion in the marketplace," a particularly unflattering (and untrue) phrase.

It's noteworthy that Mr. Kennedy does not own the web site MagneticMarketing.com.

That honor belongs to someone named Sona from Concord, Ontario,  (The Administrative Contact for the domain is Gautam Relan, also from Ontario) who registered the domain at the beginning of 1999.

You'd think someone who created material using the Magnetic Marketing name and has been marketing the same for over 10 years would have snapped up the domain name.  Ten years ago would be 1998.

Perhaps this question is explained by Mr. Kennedy's comment that he has not reviewed my web site "and do not inspect sites or personally use the internet at all."

Also very interesting for someone who is presumably well-known in the marketing industry.  I know there are many, many people who do not use the internet, but a marketer?

Anyway, there is more to this story that I hope to share with you, including my letter to Dan Kennedy that precipitated his letter to me.  But, that is for another time.

Suffice it to say that I will be creating a new blog with a new name, and in the coming days, I will have a timeline for doing so.

As Mr. Kennedy concludes:  "It would be simplest for all concerned if you voluntarily ceased use of MAGNETIC MARKETING (though not stated, I'm assuming he means the name, since I have not used any of his proprietary materials -- or until recently been aware of their existence -- that also bear the name) , and notified their office (the company that owns and publishes Mr. Kennedy's materials) of same."

New beginnings are always good.

My intent is to bring even more value with the new blog in order to help you become better and more magnetic marketers.  In this way, you stand out so that those you are meant to serve can find you.

Solopreneurs spend a lot of time, money and energy attending networking events, working the crowd, giving their 60-second commercials.

The other day, I was talking with an independent business professional who remarked that at least once a month she attends three networking events in a single day!

On the surface, it makes a lot of sense.  You need to get the word about you and what you do in order to attract clients.  The more people you meet, the merrier....right?

Why is it, then, that so few are getting the results they desire after all this running around?

How often have you wondered whether you are just wasting your time since you're not seeing any real, tangible results for your efforts?

I'd venture to guess that the problem is that your networking sucks, and you don't even know it.

That's why I'm putting together a workshop on the subject that will be held on Monday, August 11 from 5:30 to 7:30 pm, and you're invited!

The workshop is part of the my new Networking That Works series, and this workshop is called "Why Your Networking Sucks and What You Can Do About It."

It's a content-rich answer to the complaint of many entrepreneurs that traditional networking is a waste of time, money, and effort.  If you can relate, you're going to LOVE this workshop.

(Besides, you get to interact with me, and what's not to love about that?!)

All the juicy details are at http://NTWPart1.notlong.com (and I've also reproduced them below) where you can also RSVP for the event.

The only catch is that you need to be a member of Biznik to attend.  This event is one of the value-added benefits of being a Biznik member (among the many) for building and growing your business.   I HIGHLY recommend you join.  There's no cost to you for the basic membership and it takes all of 5 minutes to sign up.

CLICK HERE to sign up.  You'll be super-glad you did.

PLUS you get to experience Monday's workshop and take away some great tools you can implement right away to become a better, more strategic networker......and have fun at the same time.

(Of course, in the unlikely event you don't like Biznik, it's very easy to cancel your membership.....But, I don't think you'll want to after you experience all the benefits.)

I really hope to see you there.  Remember to RSVP, since there's limited seating.

We're going to have a blast!  Can you feel it?

I can't wait!

Here is the workshop announcement I wrote, all of which can also be found on the Biznik website:

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Networking That Works, Part I:  Why Your Networking Sucks and What You Can Do About It

Feeling depressed because all those networking events you're attending feel like a total waste of time?

Tired of spending all your money on networking events that yield little or no results?

Wondering what anyone can possibly get out of talking fast and passing out a bunch of business cards to everyone they meet? 

Confused about how food, cocktails and door prizes can get you more (quality) clients?

I understand how you feel.

And, I have to say, it's not your fault. You just haven't learned a better way.

As an entrepreneur, time is your most valuable nonrenewable resource. When it comes to networking and creating lasting, profitable relationships, you need a strategic plan that both maximizes your time (and your money!) and that works how you work best.

In this first of our two-part workshop series, "Networking That Works, Part I: Why Your Networking Sucks and What You Can Do About It", we don't pull any punches.

In our time together, you'll learn:

• The difference between a networking event and a social gathering and why you must approach each differently, as it pertains to your business
• Why "speed networking" or "fast networking" is like flushing your money down the toilet
• How (and why) to position yourself as the host of every event, whether or not you personally put it on
• Why your goal is NOT to give out as many business cards as possible
• The two major reasons why traditional models of contacting your "spheres of influence" for referrals generally do not work
• Why what happens after the networking event is more valuable than the networking event itself
• How to identify key referral partners to create a win-win-win for you, them, and your clients

This workshop will be a mix of educational content and interactivity, so come prepared to share and participate. You will leave with fresh ideas you can implement right away to improve your networking skill and your results.

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SPECIAL NOTE:
The owner of the restaurant is graciously providing the space and Audio/Video resources at no charge to us, so I am strongly encouraging everyone to thank her by purchasing an appetizer or light snack and a beverage.

Nona Rosa's menu consists of a variety of delicious appetizer-type items, sandwiches made with freshly carved meats and cheeses and the handmade bread they bake daily, as well as full meals, full bar, and non-alcoholic beverages.

When I’m talking about being magnetic with your marketing, there really is no complicated secret.

It really boils down to embracing who you are, shamelessly being yourself, and unabashedly sharing your unique personality with the world.

It’s about having fun, which is pretty easy when you’re being yourself, since that’s what comes most naturally.

When you give up self-judgment and insecure what-will-they-think mentality, you are free to be yourself.  This way, your best and perfect clients are naturally drawn to you.

It’s because they resonant with who you are, what you’re about, and what you stand for.  They’re attracted to you.

It’s your unapologetic uniqueness that makes you magnetic.

You might be wondering how you might apply this to your business.  If you’re a real estate agent, there are obviously tons (an understatement) of agents running around wherever you are in the world.

How can you be authentically unique?

How can you separate yourself from the competition in a way that is congruent with who you are and magnetically draws your best clients to you?

I was reading Ben McConnell’s article on TOMS shoes.  I’d never previously heard of TOMS shoes (they’ve only been around since 2006), but it’s a great example of how the founder (Blake Mycoskie) embraced who he is and what he stands for to create magnetic buzz (and customers!) for his product.

You can read Ben’s take on TOMS shoes by reading his article, but basically Blake Mycoskie went to Argentina, fell in love with a certain style of shoe they wore, and decided to redesign for the American market.

The second thing that he discovered about himself while on this trip to Argentina was the compassion he felt for those living in poverty.

Already, you are probably thinking about how this story resembles your own story.  There is a reason you began selling real estate, and that reason may simply be entrepreneurial on the surface, as in the case of Blake.

This is a good thing.

Secondly, you may have tapped into a more emotional reason that resonates with who you are as a person.  Maybe you want to help single mothers discover the joy of home ownership.

Or, perhaps you’ve seen people interested in real property investing, but struggling with that.

Maybe you connect with the plight of those who have great credit histories, but cannot see the light at the end of the tunnel because they can’t come up with a downpayment.

These are just examples.  They all boil down to the human need and desire to connect meaningfully to others and to do good work that leaves a living legacy.

Some call it giving back or paying it forward, and those things may be true.

But, I think that at our core, each of us fundamentally is seeking self-expression of our spirit and our personality.  We want to express who we are.

And when you as an entrepreneur do that, you stand out to your best and most perfect clients for you…..which necessarily are different from who’s perfect for someone else.

Like a magnet, they cannot help but – they are compelled, as it were – be drawn to you.

But back to our example of Blake and the creation of his TOMS shoes.

So, Blake took the Argentine shoe model, redesigned it, and decided that for every pair of shoes sold, another pair would be donated to children in third world countries without them.

This was brilliant.

His entrepreneurial spirit coupled with a desire to express his personality through giving in this specific way resonated with his ideal clients, and they came in throngs.

As reported by Ben on his blog, Blake has sold over 200,000 shoes since 2006 and has given away the same.

(Incidentally, another brilliant marketing component that he employed was the concept of customer interactivity.  His well-crafted strategy allowed people who resonated with his cause to also express their own personality and spirit.  They were able to ride on Blake’s enthusiastic coattails and, by purchasing TOMS shoes, to participate in his philanthropy.  People LOVE contributing to something bigger than they are.)

How might you follow Blake’s TOMS shoes example to stand out from the sea of shoes in your industry?

Are your proverbial wheels turning in your brain about how you can creatively imitate Blake’s story to create your own?

In the real estate market, many donate time, money and resources to Habitat for Humanity.  This is an amazing charity that does great work.

The challenge is that this charity may not reflect your personality or assist you in standing out so that your ideal clients can recognize you in the crowd of competition.

I think the first step is really getting clear on what turns your crank.  What drives you and excites you?

What is your personality, and how can you make that prominent in your marketing to magnetically attract your perfect clients?

I know I’ve only scratched the surface of this discussion, and I welcome your thoughts and comments, as together we both expand and hone into what it means to be totally and completely you in your business and your marketing in order to attract and magnetize to you your ideal clients.

I was reviewing on Michael Eisenberg's blog on Active Rain the June 2008 residential real estate market report for Whatcom County.  He notes that the average list price was just over $450,000 and the average time on the market was 110 days, or nearly 4 months.

This is interesting to me, since I've been intimately aware of a home in Bellingham's York Neighborhood where the seller is asking just over $400,000, but the home has been sitiing on the market since November.  That's over 9 months!

It would be easy to surmise that this is due to the slow market, the large inventory of homes, the subprime mortgage debacle, or any number of other challenges.

And yet during that same period, several similar homes have been purchased and sold in that same neighborhood under the same conditions.

So, what gives?

Well, I don't pretend to know anything about buying or selling homes.  Real estate agents are the experts in this arena.

But, for this particular home, there are a couple of interesting clues of what could be done to increase the likelihood of selling this home.

For example, the owner recently told me that she may consider lowering the price.  She has already lowered the price on one occasion several months ago.  My question is whether the home was priced right in the first place.

As for buyers, they obviously want the best deal they can get and have in recent times been motivated to give low offer to a seller.  Chris McNamara of BuyerTours Realty gives the reason for this:  "Low Offers are going to happen. People are anxious to see what will be taken, how large a barrel a seller is over, and how creative they can get with an offer."

(Speaking of low offers and suggestions for buyers and sellers, I think you will enjoy reading Chris' very entertaining and informative article on the subject.)

I don't know whether or to what extent the two different buyers low balled their offers on this house, but I'm left to wonder what degree of coaching the realtor did in helping the seller to price the home correctly at the start.

The next thing may seem obvious, but as obvious as it is, it's surprising how many real estate agents fail their clients in this arena.

First impressions are lasting impressions.  If you are a real estate agent, your job is to advise clients on what they need to do to make their property more attractive and more marketable.

If a prospective buyer does show interest in the home, its deficiencies will become known anyway.  Why not make sure your clients fix, complete or upgrade everything they can before listing the property?

This house I've been referring to is not in bad shape.  But is it noteworthy that they seller is has in the last 3 weeks or so replaced the roof, touched up the paint in areas, and cleared out much of the weeds close to and around the home.  These improvements have made all the difference in the world.

In the coming weeks, already scheduled is completely replacing the deck and the gutter.

Of course, I don't know what conversations the agent and his client had regarding these things, but it does make me wonder why these basics were not taking care of long ago.

Its so important to remember that as a real estate agent, you are also a specialist, a consultant, and you clients are depending on you to tell them what to do.  Why else do they need an agent?

Not only that, if their home sits too long on the market, it may not be the market they blame when they see similar homes around them sell!

If you insist on these two basics -- pricing as correctly as possible the first time and making sure the home has excellent curb appeal -- you go a long way in decreasing the likelihood of a home sitting without any action for an inordinately long period of time.

The other day I was writing this blog entry at the public library, and I spent quite a bit of time on it.  In the background, I downloaded an item I received in a email.

I guess that's a no-no at the library, because after the download I received an error message that I'd exceeded some kind of limit and could no longer use the internet.

To make a long story short, my blog entry hadn't been saved and so now it's lost in Computer Land somewhere, so I'm just going to cut to the chase and get to the most important part.

I'm a member of Yaro Starek's AMAZING new membership community called BlogMastermind and you should be, too.  The doors have been closed for upgrades for several months and now he's finally accepting new members.

I know there are many how-to-blog-and-make-money programs out there, but Yaro's is the best and the most affordable and with a guaranteed ROI of time and money.

And I completely trust him. (He's customer service cannot be beat.)

You already know good blogging is good marketing, and good marketing means money and sales, which is definitely ALL GOOD.

And, it's perhaps the least expensive piece of marketing you'll every do (How's FREE -- or very nearly so -- sound to you?).

So, if you're going to blog, you might as well do it right the first time, don't you think?

Here's the link to sign up, and yes, it's an affiliate link:  Yaro's Blog Mastermind.  Once you sign up and begin to get enormous value, I think you'll also be a raving fan and want to be an affiliate, too.

Happy Monday and I'll see you over at BlogMastermind.  I'm looking forward to it.