Category Archives: Prospecting

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Why You Fail to Achieve Your Potential

Understanding the Power of Preparation

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I was leaving my son’s football game recently. As I stepped onto the parking lot, I saw my wife stop. Then I saw a man in his car hitting his son.

We were stunned, to say the least…and we froze. I literally froze. I didn’t know what to do.

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As I stood 15 feet from the car, a woman ran up to the car and began beating on the window (that probably should have been my reaction). This led to a yelling match – the man still in the car and the woman outside the car.

The whole while I’m standing there. It was surreal.

Then the man saw me looking at him and started yelling at me. Then he got out of his car.

Turns out he is much taller when he’s standing up. 6’5” and 230 lbs tall. I know this because I found his numerous police reports online later that day.

Shortly thereafter, an older gentleman got in between me and this large mountain of a man and the situation was diffused. I looked around and saw my brother, some coaches and other men who had my back.

The police were called, and I don’t know what happened after that.

This Friday, Oct 7th at 2pm EST, I’m holding a webinar – How to Become a coach for the Massimo Group. If you are a coach or teacher at heart and love positively impacting others, I’d love to have you join me. Click Here to register.

My brother and I were talking that evening. We both had the same take away. We were completely unprepared for that situation.

I suppose I could make a list of every crazy situation I may chance upon. I could take karate. I could make use of my conceal carry permit. But I’m not going to do that.

What’s your excuse?

You know the situations you will be facing, and yet you do not prepare.

You know you are going to be making prospecting dials – or that you should be. But you wing it instead of researching your prospects and preparing. You don’t roleplay with your coworkers because it is awkward and embarrassing.

You know you will be leaving voicemails, but you just bumble through the message hoping to strike a chord. Or worse, you don’t leave a message at all. “No one returns calls. Why bother?”

You are going to have that next opportunity to present to win the business. But you will go in with a canned presentation that you will give to anyone. No understanding of the objectives of the client. No customized approach.

My favorite quote of all time is:

“Amateurs practice until they get it right. Professionals practice until they can’t get it wrong.”

You need to practice on purpose for the situations you know you will face. And then practice some more. Practice until until you can leave a compelling voicemail with a real reason to call back…and nail it every time. Practice until you know your customized pitch so well that you can improvise according to the need of the minute…and know exactly where to return to in the presentation.

Practice until you can’t get it wrong. You may not succeed every time, but your preparation will put you in the best situation to come through when stakes are the highest.

This is the way you reach your potential. Prepare. Practice. Rinse. Repeat.

So the question is…are you going to do it?

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How to Prospect by Phone With Confidence – Day 11 of 30 D2aBB

Why the Opening Statement is Most Important...

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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.

Prospecting by Phone

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!

Question: How do you start a prospecting call? I’d love to see many of us share what we do and how it works. Let’s make the comment section a repository of the wisdom and experience that makes up the readers of this blog! You can leave a comment by clicking here.

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Nailing Your Value Proposition – Day 9 of 30 D2aBB

Why You? Why Your Company? And Why Now?

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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.

Nail Your Value Proposition

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.

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Systemizing Your Business – Day 2 of 30 D2aBB

Stop Throwing Stuff Against The Wall And Hoping Something Sticks

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I spent 5+ years in the Marine Corps. It changed me, and there was a ripple effect.

When I was in college, and my wife can testify, I was a slob. My room was more than messy. My bathroom was frightening. Before that, my mom made me do my own laundry because I would not pick up my room. When she saw that I was ok with that deal, she made me keep the door to my room shut so my younger siblings would not see my bad example.

Day 2 of 30 D2aBB

Then I enlisted. The Marines are fanatical about cleanliness – from the head (bathroom), to personal hygiene, to our uniforms. Everything should be perfect all the time. I was married after 1 year in the Corps. For the sake of my marriage, I had to get over my heartburn because my wife did fold my undershirts 6″ x 6″.

In fact, I took my 3 kids to see the Marine recruiter earlier tonight after we ate dinner. I was actually embarrassed walking in there because I did not shave today. Sheesh.

The Marines are also fanatical about systems. Everything they do is thought out and time tested. There is no reinventing the wheel. The reason we are so passionate about systems is they produce a predictable and desired outcome.

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[Free Webinar] How to Simplify and Expand Your Business with ClientLook

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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.

ClientLook is simplified CRM – everything you need and nothing you don’t!

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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!

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The 6 Mindsets Holding You Back

And the Truths that Will Set You Free

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I have poison ivy. Both arms. My stomach. And my ear. I kid you not. I have poison ivy on my ear lobe.

The reason? I love my wife.

look upinto the stars.

Earlier this week, she asked me if I would help her trim the landscaping in our back yard. Evidently – there is poison ivy back there.

When I do yard work, I binge-listen to podcasts. This week, I was listening to Michael Hyatt’s podcast – What if the Barrier’s Were Only in Your Head? It got me thinking about the things we believe in our minds.

Some of those beliefs are rooted in truth. Some are not. What we believe is true about ourselves has a tremendous impact on our performance. Our mindsets are rooted in truth, or they are rooted in a lie.

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[Free Webinar] How Your Marketing Can Win You Listings

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Commercial real estate is changing. The internet has helped in leveling the playing field. Best practices are now easily shared – within companies and without. It is now harder than ever to differentiate yourself from your competition.

This month’s webinar with my friend Kris Krisco of Buildout.com is all about how your marketing should actually win you listings. You can register for the webinar – at 3pm Eastern on August 5th – by clicking here.
by ShadeON via iStock.com

by ShadeON via iStock.com

The marketing of your listings is for the purpose of finding the most potential buyers. The more buyers equates to more offers. More offers, if the listing is priced right, can generate a quasi-auction environment. So not only do you find a buyer, but the best buyer – and, get the most out of that buyer.

But you can also use your marketing to win listings.

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5 Reasons Why There Is No Magic Prospecting Script

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I’ve recently had a number of my New to the Business (N2B) coaching clients ask me for prospecting scripts. They are new clients, and they are new to commercial real estate (CRE). Had they been with me for a while, they would have known not to ask. I want to share with you why in this post.

But first, a story…

Image of young upset female in quarrel with her husband

Image from shironosov via iStockPhoto.com

I’m in my 18th year of marriage. I love my wife more today than I ever have. She is incredible, and I count myself one of the most blessed men on the planet.

But…we still deal with conflict. She is not married to a perfect man. And despite her awesomeness, she isn’t perfect either.

Recently, we were dealing with some conflict in our marriage that had gone on for a number of days. My wife was frustrated with me. I was frustrated with the situation. Life in the Barron household was not smooth or enjoyable…at all.

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The Beginner’s Guide To Prospecting

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The Step-By-Step Process for Maximizing Your Income by Pursuing the Business You Want

Have you ever wondered how the best of the best do it? Do you wonder how you can ascend to the ranks of the top-producers? Have you ever be frustrated with your own production or wondered where the next deal will come from?

I know how you feel.

When I began in the Commercial Real Estate industry, I had some inherited advantages. I was 3rd generation in a small town. My father, uncle, and grandfather had built for us a great name. I was walking into a no-lose situation.

However, if I weren’t a gene-pool lottery winner, I think I might have failed.

Why?

I didn’t implement a prospecting system to go after the business I wanted. I did not fill my pipeline with opportunities. I produced no deal flow.

It was years later, after hiring a coach through The Massimo Group, that my eyes were opened to how to go after the business you want.

Here’s the truth. The top-producers in CRE prospect continuously. They do it systematically. They track and know their numbers cold.

You can do the same. You should do the same. Unless you enjoy mediocrity, you must do the same.

So I’ve written my first ebook: The Beginner’s Guide to Prospecting – The Step-By-Step Process for Maximizing Your Income by Pursuing the Business You Want.

 

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In this step-by-step, in-depth guide to prospecting, you’ll find:

  • How to choose your specialty (and why you should specialize in the first place)
  • How to build your database (there are only 3 ways)
  • How to write a prospecting letter that warms up a prospecting call (it’s too quick and easy not to do)
  • How to use the true purpose of a prospecting call to generate more meetings
  • How to make the meeting about your prospecting (and not you!)
  • How to give a winning presentation (and differentiate yourself from your competition)
  • And much more…

prospecting ebook screenshot

You can’t buy The Beginner’s Guide To Prospecting anywhere. The only way you can get it is to subscribe to my FREE email newsletter. That means you will get an email every time I publish a new post or offer (about once a week.)

That way, you don’t have to visit my blog to stay up to date on fresh content. And you can unsubscribe at any time.

All you need to do is click the button below. Once you do that and confirm your email, I will email you the link to download this free resource.

Send Me The Free Ebook!

You really have 3 choices at this point:

  1. Keep the status quo
  2. Figure it out on your own…the slow way
  3. Let me share with you, for FREE…the fast way.

It’s up to you!

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[Video] Ask Bo – A Question from Jeno Berta on Prospecting

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This episode of Ask Bo stems from a question sent in by Jeno Berta.  Jeno has a great question regarding prospecting for a New to the Business (N2B) broker.

He asks about what daily prospecting tasks are essential to the N2B broker as well as what one habit is most important to to the success of his business.

Go check Jeno out on Twitter at @jeno630.

I also mention in the video the prospecting series I wrote. Click here to see The 8 Steps to a Killer Prospecting System.

If you would like to ask me a question, look to the right of the screen and click the ‘Send Voicemail’ button.  You can then send me a voicemail straight through your computer. The next episode of Ask Bo could be featuring you!

Have a blessed day!

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