Live Your Dream Life

Fast forward to the end of your life (a long time from now), you’re on your deathbed looking back at the life you created. Are you happy with the life you led, was it rich and fulfilling, did you live with purpose, was it full of love, did you achieve everything you ever wanted?

Now you’re back in the present…ask yourself is your life today one that will totally satisfy you on your deathbed? Are you living the life of your dreams?

The difference between the people who live a life of their dreams and those who don’t is goal setting. Study after study has shown how important clear goals & objectives are to the success of any business, and this is no less true of success and balance in your personal life.

Many people mistakenly believe they have goals. They say to themselves I’d like to: “make more money”, “build a business”, or in my case ”lose weight”.  These examples are not goals.  A goal is a specific, clearly defined and measurable. 

When your goals are NOT clearly defined your future is unclear because you have no destination, let alone a plan to get there. That means you’ll never maximize your potential because you have no clear direction.  Imagine planning a road trip, but you’re not even sure where you’re going which means you certainly don’t know how to get there. Do you start driving around and hope you make it to a nice destination? Of course not, yet this is how many people live their lives. When you plan a road trip you know where you’re going and how you’re going to get there before you even get in your car. Then once you start driving, if you hit roadblocks along the way you simply take a detour and later get back on your planned route and ultimately make it to your destination. This is the same approach you should take with goal setting.

This is the time of year I always start thinking about and working on my goals for the upcoming year, my kids have settled into their school routine, my real estate business slows down a bit and the holidays are coming so it’s a great time to plan. I schedule not only for my business but I also plan all of my family vacations, improvements I’d like to make to my home, investment properties I’d like to buy and rewards for my success.  In my case whenever I close an escrow I like to take spa day.

Additionally I work on a long-term plan. I know where I’d like my life to be 5, 10 and 20 years from now.  When I work with a plan for my life I have clarity. I can quickly and easily determine if the task or project I’m working on will further my goals or if they are simply filling my time. When you act without clarity, you are wasting your time working on other people’s goals often without even knowing it. You’ll be working each day to enrich your landlord, your boss or your company. In real estate as with many other businesses it’s easy to get caught up in meaningless activities because they keep us busy but beware because these are the activities that make us lose our clarity.

However, when you set clear goals you work with focus, you know precisely what you want, why you want it & how you’re going to achieve it. These clear goals will focus and guide you every day so that you’re not wasting time on the insignificant.  Most importantly your life will be lived with purpose and will therefore be more fulfilling.

Here are my 5 Tips for successful goal setting:
1. Don’t compare yourself with anyone. This is where the world really does revolve around you. These goals are all about you and what you want. You will never work hard towards a goal if it’s not what you really want.
2. Write your goals. You will need to invest time if you want be successful in your goal setting – this is an activity it’s not a passive act. Your goals will not happen automatically you should plan to invest a few hours of undisturbed time to write out a clear description of what you want to and how you want your life to look. A goal that is not committed to writing is simply a daydream.
3. Review and revise. Plan to review your goals periodically to keep yourself on track. You may also find that what was once an important goal no longer matters because your life or perspective has changed. For example I once wanted to own my own real estate company but as my life and my business changed I realized that was not something I really wanted. Another goal I had and attained for many years was to be one of the top agents in my company however, once I had children my priorities have changed and with that I reorganized my entire business so that I can still earn the money I want but I do it an far less time so I can hang out with my family.
4. Be Clear & Detailed. Instead of writing your goals as something that will happen to you or as a checklist of things to do, create a vivid vision of your future and write it in the present tense. Just pick a point in time, whether it’s 6 months from now or 6 years from now, and write a clear and detailed vision of your life at that time then work backwards. Athletes use this technique; they picture themselves performing their event over and over again in their minds until they perfect it. Make sure that each of your goals is measurable. Either you achieved it, or you didn’t. Clearly defining your goals will help guide you each day.
5. Celebrate Your Successes. “Plenty of people miss their share of happiness, not because they never found it, but because they didn’t stop to enjoy it.” You should celebrate all you successes. This will motivate you to continue moving forward plus its fun.

Unfortunately most people will never set goals because of their fear of failure. The best way to guarantee failure is to avoid making clear, committed decisions. Teddy Roosevelt once said, “In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.” Setting virtually any goal at all is better than floating through life with no clear direction.

Start living the life of your dreams today…start writing your goals!

 

Shameless Self Promotion

Courtney Self
Broker, Investor, Author & Occasional Speaker

Why Invest in Real Estate? The answer is: FREEDOM!

“True individual freedom cannot exist without economic security and independence.” Franklin Delano Roosevelt

JUST RELEASED…Anthony Self’s Latest Book: “I Sold My Soul for $60K a Year and How I Took It Back”.  Anthony shares how he went from Zero to $6 Million, how he “Fired” his Boss and took back control of his business and his life through real estate investing. Anthony explains how you can do it too!

When I say it gives you freedom, I mean it. Read Anthony’s book if you are…

• Currently tied to a successful job or career path, as he was, and feel trapped.
• Wanting to stay home to raise your children rather than send them off to daycare for hours everyday.
• Living paycheck to paycheck.
• Successful but have capped out your income potential.
• Merely surviving instead of thriving and don’t know where to go to get ahead.
• Currently renting.
• A homeowner and want to increase your wealth.
Whatever your circumstances are currently, real estate investment will increase your wealth and give you more freedom to do the things you want to do, rather than the things you have to do. This is not a get rich quick plan; in fact, it’s the opposite. It’s a way to get out on your own and take some control over your life. It may take a little while to achieve your goals, but the process enables you to have more control choices in your own

For free investment analysis spreadsheet visit www.moneyfrog.com

 

Investing For Your Success

Courtney Self
Broker, Investor, Author & Occasional Speaker 

WHY INVEST IN REAL ESTATE?

“It’s tangible, it’s solid, it’s beautiful…I just love real estate”, Donald Trump.

Buying investment property is a fabulous opportunity for real estate agents; it can provide you with a steady cash flow increase your overall wealth and provide excellent tax benefits to offset your real estate commissions. Plus it’s a great retirement plan, usually your property will continue to increase in value, rents will rise and all while you’re pay down the mortgages.

I admit that I am biased towards real estate, but with good reason: it has been an amazing wealth generator for my husband and me plus it’s given us lots of freedom. For me the financial freedom is the biggest benefit to real estate investment. While most real estate professionals will tell you that they enjoy their job, the majority will also tell you that they don’t want to sell homes or do loans for the rest of their lives, myself included. One of the key ways to ensure that your future as an agent is bright and comfortable is to appropriately invest in income properties as you are in the midst of your career. Which is why I’m always surprised to learn how few real estate agents, lenders, title and escrow people actually invest. As real estate professionals we are positioned perfectly to create huge amounts of wealth for ourselves and our clients.

Think about it…often the largest time commitment to investing is doing the research necessary to understand real estate and rental markets. If you’re already working day to day in the real estate business, what better opportunity could you have? In addition, working in real estate often gives you the opportunity to learn about properties before they hit the market – so why not take advantage of that?

I already mentioned investment properties are a great way to plan for your retirement but they can also help you to make it through rough times in your career or even better allow you to take some time off. The real estate market is constantly in flux. Sometime it is a buyer’s market, sometimes a seller’s and still other times it is just plain slow. By having some residual income from investments, you will be able to wade through the slow times and still have steady earnings. In my case I take time off during the summer and over the holidays when it’s typically slow but I don’t worry about my commission income because I have rental income to cover my mortgages and other living expenses.

My goal in real estate investing is to purchase enough rental properties to eventually replace my current real estate income. This will ensure that my retirement years are as comfortable as possible. What are your plans?

For questions about income property email me at wealth@moneyfrog.com and to download our FREE investment analysis spreadsheet visit www.moneyfrog.com

 

Networking Your Way to Success

Courtney Self
Broker, Investor, Author & Occasional Speaker

I have built my business through relationships, the most effective tool I have is networking.  Using other professionals and business owners to further my business and theirs is a wonderful way to utilize untapped markets and provide service and resources to their organizations and mine.

The key to prosperity in any business is successful networking.  Networking is getting the word out and working to build “top of mind awareness” with your target market so that when they need real estate services you are the one person they think of first.  It can be accomplished through several channels including family and friends, business clubs, associations and working closely with other local businesses.

Not only does working with other businesses help to spread word about your services to a captive audience, it allows you to help another business educate their customers or employees.  Some great sources for business-to-business networking include human resources departments and managers, financial planners, attorneys and professionals who specialize in relocation services.   I have personally developed business from all of these sources.

Using other marketing tools such a seminars and speeches (my favorites) are a great way to network with these professionals.  Consider offering a session on behalf of a local financial planner a on current real estate trends or investment property.  Ask if you can offer a free seminar to clients in the planner’s offices.  Provide refreshments and a motivating presentation and you have a recipe for a win-win situation.  Not only are you helping the planner provide another source of financial freedom for his/her clients but you are solidifying yourself as an expert in your field and a go-to resource.  If you have a fear of public speaking I offer two suggestions, 1) Get over it, join a local Toastmasters group in your area to help you overcome this fear or 2) Bring in other experts to speak on your behalf and simply introduce the speaker.

You need to be a resource for other business owners as well as your clients.  We have been doing investment seminars for years and my husband regularly teaches Excel classes on investment analysis. (To download the FREE investment analysis spreadsheet visit www.moneyfrog.com). However, the information we can provide is limited to our personal experience.  Plus, the real estate services I can offer for investors are pretty much limited to California and Arizona.  There is so much more information out there on the subject that we are not expert in so we have relationships with CPA’s, attorney’s, financial planners and lenders.  Plus we recently affiliated with Nouveau Riche University (NRU) to offer our clients more education (for referrals to any affiliates email me at wealth@moneyfrog.com).  When you cannot personally provide information or services having a synergist relationship with other companies will increase your business and your value to your clients plus you will be helping someone else build their business at the same time. 

Local business networking groups are my absolutely favorite way to network.  However, don’t expect to start receiving referrals the minute you walk through the door.  I always tell people they need to commit to at least 6 months in a group plus you need to make an effort outside the regular meeting to develop relationships with the other members.   Local Chambers of Commerce and Rotary Clubs are also great places to network.  While Chamber of Commerce are there to promote locals business and encourage networking, Rotary is an organization dedicated to helping people in the community so business networking is frowned upon.  However, as you develop your relationships with other members business will just naturally come your way.  In the end it’s all about the quality of the relationships you build.

Human resources departments are another great place to network, as they are often involved in relocation of employees.  Provide them your card and information about your services so that they will have a ready reference when the need arises.  Targeting smaller companies is particularly effective because they normally will not use the services of an outside relocation service.

To say that competition for real estate customers is fierce would be no surprise to any good agent.  Finding ways to creatively target businesses as networking sources is one key to breaking through the clutter to gain top of mind awareness. 

 

SAW IT AT THE EXPO…

Courtney Self
Broker, Investor, Author & Speaker

I just returned from the California Association of Realtors Annual Convention in Anaheim where Anthony spoke and we had a booth.  We met lots of great people, saw lots of speakers and toured the trade-show plus we got to go to Disney Land!  The first day for us was Tech Tuesday which is our favorite part of the Expo because we love technology.  Lynn Pope my inspiration for becoming a Blogger, she is also from my office-RE/Max Exces, sat on the panel for Blogging and was great!

One of the hottest topics at the convention seemed to be foreclosures & short-sales.  Larry Blachman at the booth next to ours did a couple of those classes and had to stay until after the trade-show closed the last 2 days because he had so much interest from the attendees. 

All of our Money Frog, Inc. classes went over extremely well – they were well attended and we received lots of great feedback.  This year Anthony taught: “Tech Tips for Top Producers”, “A Picture is Worth a Thousand Dollars: Digital Camera Class”, “Numbers & Stuff: Analyzing Income Property Using Excel” & “ACT! Like a Professional” a database software class.  Everyone particularly like his Excel class because he gave a FREE download on his website for the income property analysis spreadsheet.  To see his class notes and get your FREE download visit www.moneyfrog.com.

A few notable mentions were the lenders that have these loan programs that pay off your mortgage in 10 years- I’m not sure yet how this works but I’m going to find out.  A couple of companies that offer text messaging for listings – that looked good.  Zillow was there but with very little coverage at their booth which surprised me.

Other than that I saw few things that interested me personally from the 600 + vendors at the trade show.  Most of it was what you’d expect:  sign companies, new real estate franchises, banks, title & escrow companies, training companies & several costume jewelry vendors – I guess they realize agents like their Bling and yes I did buy some. 

I was happy to see RE/Max California & Hawaii there after being gone for several years.  The first C.A.R. trade-show I attended was in 1996 while I was working for RE/Max CA & HI in the franchise sales department.  Overall it was a great event and we really enjoyed it.

 

Special Events Show You Care

Courtney Self
Broker, Investor, Author & Occasional Speaker

 

 

I re-created my business ten years ago from hard-core sales working mostly expired and FSBO’s to a friendlier, more rewarding (for me and my clients) relationship based business.  Since then I have incorporated special events into my annual business plan and budget, from client appreciation parties to informative FREE seminars.  Client parties are the perfect way to show my clients how important they are and FREE seminars give them something of value.  Both events are excellent opportunities for developing my relationships with clients.

Targeting the people who need your services is crucial in any successful business.  This means segmenting your audience based on their demographic and psychographic characteristics and creating marketing programs that will attract their attention and fulfill their needs.  Because real estate can be such an emotion driven purchase, it is important to demonstrate to your customer that you understand their needs and will work hard to meet them.

The best way to show your customer that they are important and that you understand their needs is to plan special events based on their interests and background.  We work with lots of investors as well as relocation companies so in addition to our client appreciation parties we have crated investment seminars and have invited, lenders, attorneys and CPA’s to speak and provide useful legal and tax information.  For clients our relocation we have done “lunch and learn’s” at large companies in the area to provide home buying/selling information to their employees who may need relocation services.

Also, when planning your event it is important to have a firm grasp on your client’s lifestyle as you are planning events so that you can tailor it to the expectations of your customer.  If they are exceptionally formal and regularly attend cultural events, planning a backyard barbeque will not be an event that will be of interest.  However, an upscale wine and cheese party at your offices will probably be an effective way to reach this audience.  

When planning a special event, be sure that you’re not giving the impression that you’re only in it for a sale.  While there is a sales element to your event, make sure that this is subtle and your main objective is the enjoyment and satisfaction level of your event attendees.  These events are intended as a Thank You and an added benefit to your clients for selecting you as their agent.  Don’t make sales a priority, just allow the opportunity for sales, remember this is about building your business based on your relationships.  My friend Casey, a Tucson Broker, always says, “People don’t care how much you know until they know how much you care”.  If you genuinely like and care about your clients their business and referrals will follow. 

You may want to consider playing a slide show or video on loop, with photos of past clients.  If you’re new and don’t have many past clients show a video highlighting new or exceptional listings, playing throughout the event.  Use these understated tools to plant seeds for the future.

In this “me” driven society, people are always concerned with what they will get for their efforts.  Special events are no exception.  Make sure that you have a take home gift that is worthy of your client’s attendance at the event.  Each year around Thanksgiving my partner Nadra and I give a Pie Party.  Our clients receive an apple or pumpkin pie and a goodie bag filled with personal promotion products.  Make certain that the gift you give has your contact information.  Also, consider having a raffle or other special giveaway, such as a putter signed by a famous golfer or a weekend retreat at a spa.  Try to tie your giveaway into your events theme to make it cohesive.

No matter what type of event you plan, let your guests do most of the talking.  Getting together in non-sales environments provides the opportunity to really learn about your clients.  Take some time after the event to write down the things you have learned and include them in their file.  Use this information for future special events or as way to personalize future communication.  For example, perhaps you find out that the customer has a three-year-old daughter who likes Elmo.  The next time Elmo comes to town, drop her a line and provide free tickets to the event, or simple send a note alerting her of a great opportunity to be her daughter’s hero!

Special events are a great way to show your customers that you truly understand and care about their needs.  They are also an excellent way to highlight your abilities in a subtle way and learn more about your market.

 

The Benefits of Partnerships

Courtney Self
Broker, Author & Speaker

I’ve been part of a team for most of real estate career which began in 1986. I’ve had great partnerships and some not so great ones. My current partner, Nadra Dahdah, and I have been together since 2000 and we’re still going strong.

Successful real estate teams not only allow agents the piece of mind in knowing their partner will be able to work with customers if they take time off, it provides clients the benefits of dual resources.

While working with a partner means that you have to split your commissions, the benefits of such an arrangement far outweigh the negatives. Because of the nature of real estate, the demand for your time is great. Partnerships allow you to create a balance in your career and personal life.

Time off is crucial for metal and physical revitalization and general well being. By creating a partnership, you are giving yourself the ability to get some well needed rest and relaxation knowing that your business is being well taken care of. By choosing a partner with like goals, you can leave your business in their capable hands while you are away.

Because they will be representing your business, one of the most important things when choosing a partner is to ensure that they are motivated by the same things as you and are interested in working toward similar goals. Before making your final partner selection, it is important to take some time to really get to know them. Consider working out a temporary arrangement, perhaps three months, with the ability to go long-term if both parties are comfortable with the fit. Also, be sure to ask various questions about their future plans and their expectations for the partnership and get references. A good partner should also ask the same of you.

It is also important that your clients feel comfortable with your partner. Because this individual will be taking care of them when you are unavailable, it is crucial that there is a seamless nature to your business styles. You should complement each other and be able to confidently handle the other’s workload in their absence. In addition, your partner should be able to fill in the gaps in your expertise level (as you will also do for them), so that you can offer clients a well-rounded service.

When chosen carefully a real estate partnership will not only be of benefit to the agents involved in the team, it will be an advantage for the clients. Your partnership will allow customers to be served by two individuals who are likeminded in their approach and are able to offer them a plethora of valuable resources.

 

Successful Open Houses

Courtney Self
Broker, Author & Speaker

I’ve have been successfully selling real estate for almost 20 years and can count the number of times I have sold a specific house, myself, at an open house on one hand. However, I long ago lost count of the number of clients and sales I have made because of holding open houses.

Most everyone knows that open houses do not sell houses but they make the seller feel good and it’s a convenient for other agents to send their clients through the house if they’re already booked (I’ve done this myself – just make sure you call the listing agent first to let them know you’re sending a client by).

I have never understood why sellers even want an open house…you have to leave your house for the afternoon not to mention you have a bunch of strangers walking through your home. Strangers who, may not know anything about the house before they walk-in and who may not be financially qualified to buy the house. Plus you have the neighbors and the lookers who are not even interested in buying at all. However, for agents open houses are a great opportunity for you to meet new potential clients.

I have included a checklist of things to do to help make your next open house a success:

o Show up on time and stay until the scheduled end. There is nothing worse than having someone hold your listing open and they show up late or leave early. It makes the listing agent look bad and the sellers are usually convinced the house will sell at the open house (which it hardly ever does) but they will be very upset.

o Choose wisely. Select a house in your farm area and if it’s not your listing preview the house a few days before the open house. You may find that the house is not worth holding open, it may be a disaster, it may have a bad location and is difficult to find or maybe it’s a holiday weekend and the listing agent promised an open house to the seller but doesn’t not want to do it himself. Don’t commit to doing unless it will work for you.

o Schedule the open house to start 1 hour after the typical time. For example, most agents’ in our area hold open houses on Sunday from 1-4pm. I do mine from 2-4 pm. This allows me to visit all the other open houses in the immediately area jut before mine starts. It allows me to talk more intelligently to buyers coming through. Most people visiting an open house will not buy that home. Instead it is an opportunity for you to meet buyers in person, establish some rapport and try to convince them to work with you. So if a buyer walks in and after some conversation they tell you that house isn’t what they were looking for you can suggest a another homes in the area – it makes you appear to be an expert in the neighborhood. This will impress both buyers as well as sellers (neighbors) who walk through the house.

o Preview 1 or 2 very comparable homes in the area, again this will lend creditability to you and your expertise if you can talk intelligently about some of the other similar homes in the area. It’s even better if these homes are not being held open because it gives you a reason to try to meet with the buyers later.

o Print a list of all available homes in the area in a similar price range and pass it out at the open house.

o Don’t hand out a flyer; it will usually get tossed right after they leave. Instead hand out your card, personal brochure and/or the list of other homes. Many people will be upset that you do not have a flyer readily available but tell them that is why you are there to answer their questions about the house.

o Make sure the seller is not going to be there. They will only hamper your ability to meet new clients and they usually scare any potential buyers away because they want to show them around the house.

o Don’t make everyone sign in. This will only give you list of people who probably do not want to talk to you anyway. Instead only take the names and contact info of people you connect with, and make sure they don’t already have an angel. This will save you lots of time following up leads that are not going anywhere.

o Don’t show buyers the house. Houses sell themselves the buyer doesn’t need you following them around saying this is the bedroom…this is the kitchen…they’re not stupid, instead tell buyers when they walk in about a few outstanding features of the home, the price, bedrooms & baths, then tell them to feel free to walk around and that you are available if they have any questions.

o Hand out or mail invitations to the neighbors, your Circle of Influence (COI) and any buyers you’re working with. The neighbors usually all want to see their neighbor’s house and it’s a great opportunity for you to meet them. When you invite your COI most won’t stop by but at least it’s a reason to contact them and show them that you are successful in real estate.

o Advertise on your website and run a local newspaper ad or list it in your local papers open house directory. If you don’t have enough time to run an ad or send an invitation I like to do a voice blast to my clients.

 

Technology Overload

Internet Marketing, Online MLS, Smart Phones & PDA’s, Online Forms, Websites, Digital Cameras, Contact Managers, Email, Text Messaging, Blogging, Webinars, Podcasts, Call Capturing, Voice Blasting, Electronic Lockbox Keys, GPS’s…Where Will It End?

I remember MLS Books, actual printed books that had to be reprinted each month. And, it doesn’t seem like that long ago when fax machines and pagers were introduced into real estate but who’s used in pager in the last 10 years? They have been replaced. Technology and specifically the Internet have literally changed real estate. “The real estate industry today bears little resemblance to the way we did business 10 years ago. It is hard to find another industry that has adopted technology so readily to its customers,” said National Association of Realtors (NAR) President, Thomas M. Stevens.

Don’t get too conformable with today’s technology because it will continue to change. According to a recent NAR Survey, Realtors® are investing in and demanding more technology. And we will continue to do so as long as the consumer demands it…the Internet is central to the home selling process; almost 80% of homebuyers are using the web to search for a home. Not only are clients searching for information on-line but they want it immediately.

For me the best source of business is still my repeat and referral clients however, technology has been instrumental in helping me better serve these clients. What’s more, with technology I am no longer tied to my office. I am free to conduct my business remotely…from home or even on vacation. Technology, which it can be overwhelming, has actually freed me to spend more time with my family and spend less money on advertising. For the latest in Real Estate and Technology visit us online at www.wealthcreationtechie.com