Science to Sales

Fresh out of college, I became a teacher.  I worked with emotionally disturbed adolescents in a psychiatric hospital.  Needless to say, it was an easy transition when I started a traditional real estate company and took to recruiting agents!  My teaching skills became important again after I sold that office and went to work for Century 21 Corporate.  I started as a business consultant but soon was in the classroom, first teaching management courses and then, sales programs.  A few years later I found myself at headquarters as VP of Training, responsible for creating every bit of training the  company produced and developing a team of trainers spread across the country.

I say all of this to make a point:  I know training.  I know how to discover the need for it, how to design it for maximum effectiveness, how to coach trainers  and how to improve performance with it.  That’s why I was floored in 2003 when I encountered Science to Sales.  It is the best buyer agent training program I’ve ever seen.

Science-to-SalesScience to Sales was created in the early ’90s by Help-U-Sell founder, Don Taylor.    It is an activity driven, spaced learning program designed to be coached, not taught.   It gets new agents busy immediately and productive quickly, while preserving the broker/trainer’s most precious commodity:  time.

Consider this:  the first chapter of Science to Sales has the agent writing 18 sample offers to purchase.  18!  By the end of their first week in the business, a Science to Sales trained agent has more experience writing offers than most ordinary agents have in a couple of years! 

There is a misconception about Science to Sales.  Some think it is a video training program.  It’s not.  There is a video component, but it was added several years after the original workbook-driven program was created.  The six, hour-long videos were created as content for the Help-U-Sell television network and became a valued addition to Science to Sales.  Today, the agent meets with their coach at the beginning of the module, then watches the video, completes the activities outlined in the manual, and then meets with the coach again to debrief and prepare for the next module. 

In 2004, the program was revamped.  Actually, we considered recreating it from the bottom up — and I was given the task of exploring that idea.  I struggled.  How do you improve on something that’s already this good?  I decided that a few minor content tweaks were necessary (the business had changed a little), and that could be easily accomplished in the manuals.  But then there were the videos.  Oh, they sounded fine.  But the clothes and the hairstyles went out of don taylorstyle a decade ago.  I stewed.  Would these clunky old videos be an embarrassment?  Would the dated look trivialize the program and cause brokers and agents to disregard it?  After talking with a dozen great Help-U-Sell brokers I decided to leave them alone.  It was clear these guys adored the program just the way it was and considered the opportunity to hear Don Taylor himself on tape to be priceless.

Here’s the Good News:

Yesterday, Robert Stevens and I finished uploading the entire program to the Help-U-Sell Download Library.  The videos have been digitized and are available for streaming over the internet.  The six student chapters have been PDF’d and can be downloaded and printed.  Even the coaches guide is there.  And it’s all free. 

As usual, I see this as an opportunity.  Here is your chance to go out this week and recruit an absolute green bean, someone who’s just gotten his or her license and hasn’t got a clue what to do.  Then, put them into Science to Sales and see how quickly they become confident, competent and productive!  I’d love to hear the results.

(You know how to get to the Download Library, don’t you?  Go to helpusell.com, scroll to the bottom of the page and select ‘Help-U-Sell OMS’.  If you don’t remember your Log-in and Password, send an email to support@helpusell.com.  Go to ‘Marketing and Content’ and you’ll see the Download Library in the drop-down.  Expand the item, ‘Help-U-Sell Real Estate,’ and find ‘Science to Sales’ in the list of folders.  By the way, you don’t have to stream the videos over the internet.  If you’d prefer, they can be downloaded and stored on your computer.  Just right click on the individual video link and select ‘Save Target As’.  You can use the same procedure to download and save the student and instructor guides. )

Winning with Finance

Lynne Holcomb (Help-U-Sell Cape Coral) came up to Sarasota yesterday for the Florida rally.  She’s a 20 year member of the Help-U-Sell team and has always been a strong player and participant.   Early in the day,  one of the Bank of America representatives went through the Alliance program we have with them.  She showed us a place in the BAC mortgage center website where a borrower can input their income and expenses and get down to a real ratio driven picture of their financial capabilities.  It was really quite remarkable and sparked a spirited discussion about financing in general:  new programs, procedures and products. 

I watched as Lynn stepped right into the conversation.  It was very clear she knew exactly what she was talking about and at times it was hard to tell who was the loan officer.  Her detailed understanding of real estate financing was powerful and impressive.  She and John Powell agreed that knowledge of finance and the ability to discuss financial options with prospective buyers is essential to gaining buyer loyalty.  It’s a value package they recognize and, once they see it, they don’t want to leave it. 

When I sold real estate (you know:  back when dinosaurs roamed the earth), finance was something you just learned.  You studied it, tasked your favorite mortgage people with keeping you up to date and you talked finance all the time.  Your knowledge of finance enabled you to makes sales that  you’d otherwise lose.  Somewhere in the ’90s there was a shift.  It seemed that agents knew less and less about the financial products that enabled their business.  Increasingly the lender was brought in to answer the most basic finance questions. 

Of course I’m talking about traditional agents here — I had not encountered Help-U-Sell yet — and I think the aversion to finance was a result of a couple of broker driven factors.  First, as the mortgage industry became more regulated and more complicated, brokers were concerned about the liability of agents trotting out their possibly incomplete or inaccurate understanding of finance.  Understandable.  Second, brokers found that they could retain their solid middle producers if they kept them slightly dependent on office resources and so de-emphasized the importance of agents understanding finance.

Since Help-U-Sell is a broker-driven, consumer-centric model, I’ve seen a much greater willingness among our people to learn and use finance in their day to day real estate practice and I’ve seen it make a huge difference, especially with buyers.  Buyers, like any other consumer, will stick with you if they perceive value.  Everyone can show them property — some will zero in more quickly on their needs than others, but it’s not a difficult process.  Anyone who pays attention can tell them a little about each community.  But it’s the pro who can show them how finance can make the home more affordable, how it can solve many of the problems that come up in a real estate transaction.  That’s value. 

Yes, you do need a strong relationship with several lenders you can call for the very detailed explanation of finance.  But you also need to understand the products, what they can do, how they fit and the benefits and pitfalls they bring to the transaction.  All you have to do to see the power of this knowledge in action is to listen to Jack Bailey talk about creating a ‘Real Estate Plan’ for a prospective purchaser.  I’m sure Lynne Holcomb is just as impressive. 

Make time with your favorite mortgage people to take you through their portfolio of products.  Have them show you how they work with qualifying guidlines and underwriting requirements.  Become a student of finance and then don’t be afraid to talk about it with your customers — with the caveat that you’ll want them to discuss this with a mortgage rep too! 

I remember a sad cartoon I saw once.  It wasn’t funny, really.  A real estate agent and buyer were standing outside a house that was for sale.  The buyer says, ‘Hmmm.  $180,000, right?  If I put down 10% and get a 30 year fixed, roughly what would my payments be?’  The agent is digging in her bag.  ‘Hang on a second,’ she says, ‘Let me call my lender.’  Sad.

Listingbook

I ran into this company about a year ago and was blown away but what they are doing.  I’m going to urge you to find out if your MLS has it and if it does, jump on it . . . with both feet!

Listingbook enables you to give real time MLS access to your buyers and sellers so that they can search the most accurate and up-to-date information available in the local market.  The only way they get access is through the account you give them and they’re reminded of that fact every time they log in. 

When your customer uses Listingbook, you get a report of everything they do:  how many houses they viewed, which ones they liked, which they eliminated and so on.  As such, it acts as an early warning system.  Say you give the Brown’s an account and watch them use it casually for a few weeks.  Then, one Monday, you log in and discover they looked at 29 houses they day before!  Guess what?!  It’s time to pick up the phone! 

Listingbook_logo_boxedYou know, we’re bombarded with stats about how many home buyers use the Internet in their search.  The general consensus is that the figure is about 85%.  Of course, that’s why we all need to be shifting as much of our marketing as possible to the Internet:  that’s where the buyers are.  But the other side of that coin is that the Internet buyer tends to spend much more time looking before they’re ready to buy, some estimate five or six months or even more. 

What happens in most offices is that an Internet lead comes in, the buyer is in their first month of nosing about and the agent either a) decides they’re not serious because they don’t plan to buy next weekend or b) pesters them to the point that they change their email address and cell phone number! 

Listingbook is a high-value item you can offer these buyers that lets them do the research they want to do while keeping you connected to their process.  It’s like this:  prior to Listingbook, we’d send our Internet buyers to an IDX feed or REALTOR.com or Trulia or any number of websites.  It’s like we handed them the keys to the car, stood at the end of the driveway and waved as they drove away.  With Listingbook, you still give them keys to the car (and it’s a Cadillac), but you get to ride along in the back seat! 

There are also great benefits for your sellers (most of whom are buyers, too).  Sellers get a report every day about activity in their specific neighborhood:  price changes, sales, expirations and so on.  It’s not unusual for Listingbook sellers to call their agents to initiate price reductions based on the information they receive. 

I’ve barely scratched the surface here and I know many of you are thinking, ‘But I’ve already got all that through my MLS.’  Trust me:  you don’t.  I’ve convinced a hand full of people to really get involved with Listingbook and they all report greater success converting, hanging onto and closing leads.  They also report very happy clients.  If you need further validation, ask Jack Bailey.  He’s the broker/owner of Help-U-Sell Greensboro and has been a Listingbook user since they started 8 years ago in his city.  He swears by it. 

Here’s my advice:

  1. Call your MLS a 

    nd ask if they have it.  If not, tell them they need it. 

  2. If they do have it, go get the training as soon as possible
  3. Don’t be casual about the training.  This tool takes a little work to master, but it’s well worth the effort.
  4. Use the 1-800 help number.  I’ve heard over and over that the Listingbook help desk folks will take whatever time is necessary to get you up and running.
  5. DON”T TELL YOUR COMPETITORS!  Really.  Most are ignoring Listingbook because they think they already have it.  Here’s your chance to get a leg-up on everyone else in your marketplace! 

MLS

 

 

10/21/09 – Oh:  here is the drop-down list of MLSs from the Listingbook website.  If yours is not listed, I’d still check.

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