Think Bigger Real Estate

The first main point is why being in front of and in contact with your database right now is so important. John Maxwell teaches that leadership is influence, nothing more, nothing less. To which I would add, sales is leadership nothing more nothing less. Those that are good at sales are good at leading others. Period.

During times of crisis, leadership is needed more than ever. At the time of this recording, we are right in the middle of the COVID-19 global pandemic that is wreaking havoc on the health, wealth and overall well-being of people, communities and nations.

The second main point is why agents don’t do this. At a time such as this many are concerned about reaching out to their database for fear that it is bad-timing to be making sales calls. Here are a couple of things to realize: Cody and I outline three questions that would be well received by any of your clients, especially now:

1. How are you?
2. How is your family?
3. Is there anything I can do to help you right now?

These questions will be easy for you to ask and well-received by your clients. Additionally, if you’re genuine, patient, and curious in your approach, you’ll be able to peel the onion to find out ways that you can serve them that may or may not have anything to do with real estate.

I shared the story of a client, Kip Craglow who, out of genuine concern for his hair stylist reached out to see how she was doing. He got a call a few days later from the hair stylist's brother who needed to sell a townhome. That won’t happen every time, but it will happen. Even when it doesn’t happen, you’ll still be adding value to yourself and to others by reaching out in care and concern.

The other part of why agents don’t reach out isn’t just because they don’t know what to say. It’s also because many don’t have a database. Or, it may be because many don’t have an organized database or a systematic way to communicate regularly.

The third main point is how to overcome what keeps us from staying in front of our people. Stay in your area of brilliance. You get paid as a real estate agent to build relationships of trust, to know the market well, and then to interpret the market for your clients in a way that is customized to their specific situations and goals. You do not get paid well when you try to be the web developer and the one turning all of the gears and levers. Yes, during this time you should absolutely get your systems in place. And when I say you should get them in place, that doesn’t mean that it should actually be YOU that does it for you.You should also find someone else who is expert at that to do it for you as opposed to you taking this time to learn a skill that isn’t as valuable as is the time you could be spending with your clients.

For a great solution to this, be sure and go to luminaryagent.com or contact Cody directly at cody@luminary agent.com.

Justin Bosak is out of Wall Township, New Jersey, which is considered a suburb of New York City. NYC, as many know, is considered the US epicenter of the COVID-19 pandemic. New York City has banned all real estate showings and new listings, causing the real estate market to slam on its brakes. With the NYC and NJ economies being deeply connected, there is no doubt that Justin Bosak finds himself and his family in a difficult situation.

In challenging times, we have to manage our mind and do what the great leaders and success stories have always done. We have to maintain a strong mindset and do everything that does lie within our powers now.

That is exactly what Justin Bosak is doing and it's giving him the confidence to realize that once this storm passes, he is going to be positioned for massive success. While many are using this time to hibernate or spend endless hours following the tragic news stories of our world today, others like Justin are going out and doing everything they can now to prepare for brighter days ahead.

Some of the things that Justin is doing now include:

• Embracing and leading with technology. He recognizes that the more visibility he can give his listings now, the higher the likelihood that they’ll sell and the more people will see him as the right resource when it comes time for them to sell. While others are avoiding this new world or slowly dipping their toe in the water, Justin is sprinting forward.
• He’s up, dressed, and in the office working. He’s respecting social distancing of course, but also putting in the work now that his teammates, clients, and community need.
• He’s getting essential information out to his clients, including details of the government stimulus package.
• He’s cutting expenses and renegotiating contracts. Zillow is offering leads for half price and so he’s looking at all of his expenditures to see what needs to go, what needs to be renegotiated and what should stay.

How Justin continues to Think Bigger and expand his possibilities, even amidst perceived shrinking possibilities, Justin is looking to other leaders to see what they are doing. He is listening to podcasts and finding others that are winning in this environment and immediately implementing their activities.

Referrals without asking. That is exactly what author and coach Stacey Brown Randall teaches her followers and clients how to do. With real estate agents facing what may be the largest challenge of their career, Stacey’s advice on how to fill your pipeline in a comfortable and genuine way is needed now more than ever.

Stacey defines referrals in two parts. The first is that when someone personally recommends you and trust in you is transferred from the referral source to the referral. The second part is that the person being referred has an actual need that your business can fulfill.

Stacey shared that within all of the different types of business inflow, none are wrong, but some are more valuable than others. Referrals, as defined above, are the most valuable form of business in flow into your business.

This then begs the question of how do you go about getting more referrals? Stacey outlines a 5-step process for doing this:

1. Go back 2-3 years, if possible, and look at your sources of business. Identify who those sources of business actually are.
2. Every time you get a referral, send them a handwritten thank you card.
3. Give those people real value roughly six times per year... not value for you disguised as value for them.
4. Language differently what they mean to you. They are not a means to your end.
5. Systematize staying in contact with them while remaining genuine.

Towards the end of the episode, Stacey shares that right now, she recommends that agents go to step one to start to identify who these people are. Then, start reaching out to them asking how you can help them with some idea in advance of how you might help them.

At this time, people need leadership more than ever. The reality is that real estate agents know their customers on a more intimate level than most all other professions. You know where they live, where they work, everything about their home, roughly how much money they make, how many kids they have, what are their short, mid, and long term goals, what networks they’re a part of or would like to be a part of. Attimes like these you can use this information in order to provide real value to them to help them in whatever way they might be needing help.

To help all agents get a better understanding of where they’re at along the getting referrals without asking continuum, Stacey has put together a simple quiz at: https://referralquiz.com.

You can also find her book: Generating Referrals Without Asking on all of the major publishing platforms.

Justin Stoddart 0:00
Hey, welcome back to the Think Bigger Real Estate Show. So excited to be here today about a topic that is, I think so important to the industry, which is how do successful, loving, caring, thoughtful moms stay that way while still succeeding big in real estate? And I have with me today, Stephanie Peck.

Stephanie Peck 0:17
Yeah. Hi.

Justin Stoddart 0:18
Thank you so much for being here, Stephanie. Yeah, this is such a treat. Because, you know, guys consider around and pontificate and talk all day long about what we think the solution is for moms. But it really doesn't do it justice. What really needs to happen is for us to bring someone to the plate, who's for the past 10 years, is that right?

Stephanie Peck 0:36
Yeah. 12 years, actually,

Justin Stoddart 0:38
12 years in real estate, has managed and grown a very successful real estate practice and yet been a fantastic mom. So now I know that conversation kind of weighs heavy on a lot of moms, I was in a top agent mastermind I can reference this yesterday. And some producers, some of which sell 100 homes a year. And the kind of constant feeling of like, Am I doing enough? At home? Am I doing enough for my clients? Like, is that a real feeling? Do you feel that?

Stephanie Peck 1:05
Yeah, all the time, I'm always thinking, how am I going to be the best at everything, and also trying to remember that it's okay to not be the best at everything. Yeah, that's always my balance.

Justin Stoddart 1:17
You know,

it's been really interesting. I was raised in an entrepreneurial family, my mom was a very successful business owner. And I cannot think of something that she could have done better, in fact, because of what she did outside of the home and inspired me to similarly want to, you know, build a business. And so I'm grateful for the fact that not all moms are built a like some, like our dedicate like my wife, for example. She works one day a week as a nurse, and she thrives in that environment. Like my mom would have driven me and my siblings crazy. Had she been home? Right? Yeah, she's just wired to be like, very different. And so I don't know if you feel that way as well, like some moms like are better moms by both, like having some participation in the large participation, the workforce.

Stephanie Peck 2:04
Yeah, I definitely feel that way. Personally, I,

I went back and forth a lot about whether I wanted to be a stay at home mom or a working mom or part-time, I'm always trying to figure out where my place was in that. And I know for me when my kids were younger, and I was able to spend a lot of time at home with them. I'm so grateful for that time. And I love that I was able to do that. But now I personally am so much happier, doing what I'm doing and still being able to be the mom that I want it to be.

Justin Stoddart 2:41
Now that's some moms probably have that. That guilt, right, that feeling of like,

I'm giving up kids, let's talk a little bit about motherhood. For those that know me, some of you don't know me as well, others do know that at the core of who I am, I'm a family guy. And family is the most important thing to me. So and I honestly believe that there's no greater work than one will do than within the walls of their own home. Right? That's a quote that stuck with me ever since I was young. And I believe that, that a lot of realtor moms feel that same way to have even though they build a great business build a great empire, they realize that all shrinks in comparison to the work that they're doing. And raising up the next generation talk a little bit about kind of your feelings about motherhood and home just so that those things like, well, she doesn't like she doesn't get me because of she obviously family's kind of the second tier to her. And I know that's not true, right? Talk a little bit about like, your feelings towards motherhood and being a mom and all that.

Stephanie Peck 3:33
Yeah. So for me, I, I got into real estate because I wanted to do it for my family. And because I wanted to be the mom that I wanted to be knowing that I still wanted to be a working mom. But I didn't want to be a drop off at daycare, 10 hour a day kind of a mom. That was just my personal choice. And that's how I wanted to have my family structured. So that's when I got started in real estate was with that goal in mind. So for me, I'm always trying to think about why did I do this? Why did I decide to get into this business? And who am I serving because of it? So I focus on what I want to do for my family because of real estate and not the other

way around is

Justin Stoddart 4:21
interesting that we've talked about before. You've mentioned before about how important it is to to have a clear why right? Because I know that in real estate you get in any training, and it's like more and more and more bigger, big...

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