At the Massimo Group, and personally, no topic gets more questions than that of prospecting.
I’ve heard stories about how animals can smell fear. I think prospects can too. The truth is, there is only one thing you are almost guaranteed to be able to say on a prospecting call – the opening statement.
I know there are people out there that like to work of scripts – where they decided beforehand everything they are going to say. I’ve read books about prospecting and different ways to do it. Most I would not recommend. The best prospectors are those that get into a call asking questions and guide the conversation based on what they are learning.
Conceivably, no two prospecting calls should sound the same…save for the opening statement. This is your opening line. This you should script. This you should practice…and then practice some more.
This benefit statement should communicate who you are, who you work with, and why you are calling. It should share with them the benefit that lies in their future should they give you more time.
The entire purpose of this benefit statement is to earn the right for more time – that’s it.
Here is the template of my opening statement:
Hello Mr. [Prospect]. My name is [Your Name] with [Your Company]. The purpose of my call is to share with you [benefit you are offering to entice them to agree to meet with you].
The benefit you are offering them needs to be compelling. Maybe it is a market report (boring). Maybe it is a recent deal you did that is a comp for their property (exciting). Maybe it is some juicy market info that will affect the value of their property. Regardless, it needs to be enticing.
So I want you to script your opening statement. Practice it until it is as natural to say as it is to breath. When you get to that point, you can begin your calls with confidence – and not timidity and fear – knowing you are going to nail the one thing you know you will get to say.
After that – it’s up to you!
Five or so years ago, I was on a call with my coach, Rod Santomassimo. Rod is the founder and president of the Massimo Group, and he had been coaching me through the purchase of my father’s brokerage firm.
I remember him asking me if I would consider allowing him to profile me in a book he was writing. He asked me to think about it and let him know.
I thought, he is asking me to allow him to tell my story to the industry and create a great amount of presence for me that I couldn’t do on my own. Five seconds later, I let him know I would be honored.
That book, Brokers Who Dominate – 8 Traits of Top Producers, became an Amazon.com bestseller. If you are a CRE professional, I highly recommend.
As of yesterday, Rod has launched his second book, Teams Built to Dominate – How to Create Your Own Platform, Grow Your Business And Gain control of Your Life.
I wanted to share this you for a couple of reasons. First, I received an early copy of the book and it is fantastic. Second, I have a special code to offer you that will get you 20% off. And third, Rod and I shot a video series that goes along with the book – Team Building Toolbox – where we take you through how to implement the strategies and best practices of team building that Rod takes you through in the book.
And the video series is being offered free this week if you buy the book. But more on how to take advantage of this $300 value later.
The 5 Reasons You Need a Team…yes, even you!
- A team allows you to leverage skills beyond yourself – If you are a producer, there are activities you do that generate high income. There are other activities that you do that are low dollar activities. A team allows you to put in place people with strengths in those low dollar activities. You can delegate to them. So no longer do you need to do $20/hr work. Plus, this frees you up to do those high dollar tasks that only you can do. This leads to exponential growth!
- A team removes you as the bottleneck – When you work as a solopreneur, you have to do everything. This makes you the bottleneck. John Maxwell calls this the Law of the Lid in his bestseller, The 21 Irrefutable Laws of Leadership. This just means that you can’t grow beyond yourself. You are the lid that prevents it. But with a team, you can break through your personal ceiling and grow.
- A team prevents burnout – Most of us have experienced burnout – that hopeless feeling that nags at you. Imagine if you had a team to handle all the activities you hated doing. That should put a smile on your face!
- A team brings additional perspectives – Many hard-charging producers don’t like to think of this point. The truth is, there are many perspectives you don’t have that a team brings. It is also true that you don’t always have the best perspective, and other sets of eyeballs can lead to success in areas you will fail on your own.
- A team challenges you – When you work on your own, you are only challenged to the extent you can muster motivation and discipline on your own. But when you build a team, those team members will challenge you. They will expect your best. They will push you. This is a reason I’ve had a coach for so many years. I need to pushed.
For the past 10 days or so, I’ve been releasing a free video training series on How to Create Dominating Digital Presence. These videos have covered why you need digital presence, how to avoid costly rookie mistakes, and how to automate your platform for maximum efficiency.
The 4th video is now live and it covers your next steps – where do you go from here? You can access it by CLICKING HERE.
We have also opened registration for the online course How To Create Dominating Digital presence. Registration will only be open until September 25 at 11:59pm EST. If you haven’t watched the videos – now is the time!
If you’ve ever wondered if digital presence can make a difference in your business, this video is for you. I cover all the benefits of digital presence and lay out for you how you can get it quickly and easily. The key is implementing a proven system that simplifies and greatly automates your platform so that you can demonstrate your expertise, attract and build trust with your perfect prospects, and educate your future clients.
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Last week I announced the formation of Massimo University. As a launching point for this new venture, I’ve created a free video training series on creating dominating digital presence.
Video two in that series is now live. You can access it by clicking here.
In the first video of the series, I shared with you all the reasons why you need digital presence. In this video, I share with you the 10 platform killing mistakes you must avoid.
I think you are going to love it!
I want to remind you that this video series is only up for another week, so be sure you check them out while you can!
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There are so many who could benefit from creating dominating digital presence. I’d be so grateful if you would share this post with them. You can use the email button at the top of this post, or share it on your favorite social media platform. Thanks!
I met Rod Santomassimo in San Antonio. I was with my parents who had traveled with me to see me get my CCIM pin. It was a proud and blessed moment for all of us.
At the same time, Sperry Van Ness had been recruiting our company. We were invited to a presentation where Rod, and executive with SVN at the time, was giving us a presentation along with Kevin Maggiacomo and Jerry Anderson.
I got up to leave during Rod’s presentation. Turns out that is not the best idea. Rod called me out letting me know he wasn’t finished. I shared with him that I had to go sit for my comprehensive exam, and I would rejoin the meeting when I was finished.
If you are ever in a room listening to Rod present, don’t walk out. You may get more attention than you planned.
Since that time, Rod and I have become great friends. I worked with him at SVN. I hired him as my coach when he started the Massimo Group. He asked me to come on as a coach for MG when he began to aggressively grow his company. He has taught me many things.
So I am so excited that Rod and I have formed a new company – Massimo University. Among other things, MassimoU will be creating and producing online courses – for CRE professionals and anyone with a sales or entrepreneurial bent.
And as a special gift to launch our new venture, we have created a free video training series on creating dominating digital presence. It is only open for a short time – the next 13 days to be exact. And I don’t want you to miss out!
So head to this link. I’m so very excited about the great strategies and tools we are sharing through this free series.
And never in a million years did I expect to say this, but I am now the dean of a university – ha!
Don’t forget to get your free video training series. All you have to do is click the button below.
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There is so much written about crafting a value proposition – or an elevator speech. I’ve written about it in the past as well. You can read that post here for information on how to craft it.
What I want to share with you in this post is how dynamic a value proposition can be – and the different version you need at the ready.
A value proposition communicates three things: why you, why your company, and why now. It does so in terms of the benefits for the prospect.
But it can’t be rote memorized. Your value proposition needs to be dynamic. When you explain why you, you need to do it in a way that speaks to your audience. In other words, if I’m speaking to an institutional investor, I may communicate how I produce returns for my clients. If I’m talking to a widow, I may communicate how I take the headaches out of a real estate transaction and simplify the lives of my clients.
You don’t commit intellectual suicide when you are prospecting. You have to think and anticipate. And then act accordingly.
Entrepreneurs suffer from what John Maxwell calls the Law of the Lid. This law says that the entrepreneur is the cap on what can be accomplished. In other words, he or she is the bottle-neck of their own business. Most entrepreneurs I know suffer from some version of this. The truth is just because you can do it better doesn’t mean that you should.
There is one particular conversation I have had with my wife about 4 times now. We had it again just last week.
I want to hire someone to come and clean the house. She doesn’t like to clean (though she does a great job). And I want to free her up so she can spend her time on other things. Seems like a no-brainer, right?
The problem is she doesn’t want a house-cleaner. She stays home with the kids. She feels like it is part of her responsibility to clean the house.
What I think she is missing is that our family would run better if she spent her time on the most important things. My guess is that if I asked her to make a list of the most important things, physically cleaning the house wouldn’t be on it. Spending time with our kids would be on the list. Volunteering in their schools would be on the list. Working out and taking care of herself would be on the list. Have more time for the things that matter – that is real benefit of a house cleaner.
The same is true in your business. What is it that you are doing that you shouldn’t be doing?
Lists. Anyone who sells anything needs a list. A list of prospects. A list of influencers. A list of connectors. Your database is where those lists live.
I have a coaching client who has a complete database mess. He literally has 3 different databases that live in different places. One list lives in this CRM. One list lives in that CRM. His other list is an excel spreadsheet.
But at least he has a list.
My first years in commercial real estate were full of fits and starts. I didn’t prospect. I simply relied on our company’s presence in the market. Business would just walk in the door or call. Or it wouldn’t. Even if I wanted to prospect, I didn’t have a database.
Again in 2010, I restructured my prospecting focus. I didn’t have a list. So I built one (actually, my assistant did most of the work. I hope you all have a Teresa.)
Regardless of where you are in your career, you need a database full of all the people, prospects, and/or properties in your farm area. It is crucial that you can go pursue the business you want. To do that, you need to know who they are and how to contact them.
My most popular post ever is on the 3 ways to build a database. You can read it here. As a recap, here are the three ways to build your database:
My mom’s side of the family is from the Chicago area. I love it up there. When I was younger, I would go spend some time in the summers with family.
One particular summer, my great aunt and uncle took me to a very large house in their neighborhood. Whatever size house just popped in your mind when I said ‘very large,’ think bigger than that. It was the largest house I’d ever seen at the time.
The reason for our visit was to see the owner’s garage. He had a four car garage with 8 Ferraris in it. He literally had a lift in each bay with one Ferrari held up over another. The owner walked into the garage from his house wearing a Ferrari racing suit. He was passionate. And incredibly wealthy.
I got to see a 1958 Spider (classic yellow). I sat in one of two F40’s that he had. I remember not being able to move after he strapped in the 5 point harness. I did not get to see his Testarossa as it was in the shop.
This man – this Ferrari enthusiast – was one of the top brain surgeons in the country. He was a specialist. You didn’t go see him if you had a bad case of poison ivy. You didn’t go see him for the flu or a muscle tear. You saw him if you had a problem with your brain.
I’ve written about this before, but I get asked about my recommendation on CRMs more than anything.
And rightfully so. A great Customer Relationship Management application is a crucial part of the technology backbone of any business – especially commercial real estate.
I’m really excited to announce my first webinar with ClientLook this Wednesday, August 19 at 3pm Eastern.
Claim My Seat for the Webinar!
You want to be on this webinar if:
- You are frustrated with complex CRMs that suck your time instead of save your time.
- You want all your data with you at all times so you can maximize your productivity on the move.
- Or in other words…never feel chained to your desk again!
- You waste too much time with data entry – ClientLook has a brilliant solution for this.
- You spend too much time reporting deal activity to your clients and owners.
- You want a CRM that will not only help you find and track, but will actually help you win business.
- …and so much more!
John Dawson, VP of Sales for ClientLook, is going to join me on the webinar to give a product demonstration. If you have ever wondered what ClientLook looks like behind the curtain, or what it can do, this is your opportunity.
I’ve also negotiated a special deal with ClientLook that you can only take advantage of on the webinar.
So I hope you’ll join me on Wednesday at 3pm Eastern. You will be glad you did as ClientLook is everything you need in a CRM, and nothing you don’t.
Claim My Seat for the Webinar!