Joe's Journal

Magic Words Language Pattern #2

I’m not going to tell you that your buyers, sellers and borrowers feel fear from time to time, because you already know that, but I will suggest that you better learn to ask profound, insightful questions that help them get out of their fear.

After all, that is what a skilled consultant would do!

Now, imagine what it would feel like to have two powerful questions in your arsenal of Magic Words that you could ask anytime you sense your client is in fear.

Imagine having two questions that instantly get your client to change their perspective from one of limited options to unlimited opportunity; fear to fearless!

I first learned these questions from my friend and mentor Brian Tracy.

Here is my story.

Back in 1985, I was promoting seminars for Brian Tracy. After a few years of working for Brian, I decided that I wanted to be the speaker more than I wanted to be the promoter.

I had to tell Brian what I was planning.

Because I admire and love Brian, I wanted his advice and his blessing.

I called Brian and asked him if he would give me some much-needed advice.
We met in the backyard of his mansion in Solana Beach.

I told Brian that I was ready to move on from being a promoter to being a speaker/trainer like him. He smiled and said, “Well, what is stopping you from doing what you dream of doing?”

I said, “Fear!”

Brian asked me this very profound question. He asked, “Joe, what would you do if you knew you could not fail?”

The question put me into a trance.

I stalled for a minute and he asked me the question again in a different way. Brian said,     “What would you do if it was OK if you fail?”

It was these two questions that opened up my mind to possibilities. For the next hour, I described to Brian that my intention was to teach real estate and mortgage lenders how to build referral business.

Brian smiled after listening vigilantly to me for over an hour and said, “Joe, go for it. I totally support and encourage you to live your dream.”

As I reflect back on that critical moment, it was these two questions Brian asked me that gave me freedom to dream bigger then ever before.

Sometimes all we need is someone permission to dream big!

1. What would you do if you knew you could not fail?

2. What would you do if it was OK to fail?

I now give you permission to ask your clients the same question when they are in fear or confused about what to do next.

Listings Taking Longer to Sell - Mailbag

Joe’s Mail Bag

Dear Joe,

The Northern California real estate market has cooled off considerably. With the prices dropping and listings taking longer to sell, what one simple idea can you give me to sustain my six-figure income?

Ken Z.

Welcome Back To Reality!

Dear Ken,

I have been in the business for 28 years. I believe I have seen just about every cycle. The coasts are coming back to reality.

In the old market, one listing equaled one sale. In this new market, 4 or 5 priced right (meaning seller willing to reduce until sold) listings equal one sale.

If you want to sustain your income in this market, you need to consider listing 5 times as much property.

While you have a larger inventory, you have to create systems and the team to service these sellers. Your technology, like your relationship management system such as “Total Solution”, will become your most valuable assistant.

Ken, you also need to get more disciplined in asking buyers much better questions before you show them property.

If a buyer is not going seven levels deep with you on the ultimate scenario question, I would recommend that you don’t show them homes.

That’s the simplest answer I can give you.

Joe

22,000 Pages Viewed as of Today

The day that I conceptualized joesjournal.com, my intention was to have a creative outlet for all good stuff that I am thinking.

My thought was, if I could share my insight, wisdom and passion for building a referral business, that there must be a person who would benefit from my gifts.

I'm humbled at the remarkable reception of joesjournal.com

In 90 days, over 22,000 pages have been viewed.

My intention remains the same -- each day, share with you from my heart, my gifts.

What I want for you is more freedom, more prosperity, greater health and a deeper spiritual awareness.

I believe that I can give you the critical knowledge, the proven strategies, and powerful techniques to help you get from where you are to where you want to be.

So, thank you for referring joesjournal.com to the people in your life that you really care about.

The Best Is Yet To Come,

Joe Stumpf

How To Sell Your Referral Business

Joes Mailbag!

Do you have a question that you would like to get my thought on?

Just ask in the comment section and I will do my best to give you the support you need to get you from where you are to where you want to go.

Grandpa Wants To Spend More Time With Grand Kids

Joe, you may remember, I am currently in a ‘we’ business and am looking to ‘retire’ to be near the grandchildren in about 3 years.

You made it very clear that I must never tell my clients I intend to do that and I have been working hard to bring my partner, Nancy, to whom I intend to sell my book of business, into my business, more and more daily.

My question today is, foreseeing a time when clients will call to arrange a listing appointment, showings etc. in the future, I need a system and script response that introduces Nancy to them, without the client feeling slighted, and at the same time giving no indication that I have left the business.

Your thoughts?

Love, Grandpa

Magic Words that Get Referrals

Grandpa,

Yes, Grandpa I remember you well. You have built a business that is making your dreams come true.

Congratulations, I’m very proud of you.

Here are my thoughts…

Of course you know you have no control over how people feel. Part of the risk as a business owner is that people want to deal with you and only you.

The fact is, that that number is a much smaller percentage then you think.

The truth is, people want to sell their house or buy a house that meets their needs first.

They want their outcome, and who does it for them is secondary.

Grandpa, here are three things I would suggest you start doing right now.

1.    Get testimonial letters from clients about how great Nancy is.

Start singing her praise everywhere. Have you seen how I have been able to transfer the Half-Day division to Todd and Spencer? Since then our business has grown by 3%.

For years, I thought I was the only one that could provide that service. It’s amazing when you discover that the client wants the benefit you give, more than they want you the person, giving it to them.

2.    Start introducing Nancy now, as your equally skilled partner.

I would start a blog, just as I have, with video and have it mostly feature Nancy and her talents.

3.    Practice these words: Client calls in…

“Hi, is Grandpa available? We want to buy or sell a home.”

“Thanks for calling. This is Nancy, Grandpa’s partner, may I ask who is calling?”

“This is Dave Johnson.”

“Hello Mr. Johnson, Grandpa has told me so much about you.”

Go into my client’s database)

Use the FORD conversation skills. “Grandpa is not in right now, but he has asked me to make sure you get everything you need when you called.

How can I help you?”

I would seriously start calling yourself ‘Grandpa’, so when people ask where you are, Nancy can say, “He is being Grandpa.”

Sounds and feels better then “He sold me the business.”

Hope these thoughts expand your awareness or confirm what you are already doing.

Joe – Your Business Coach