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CONTACT WALTER

559 S. Washington Ave., Kankakee,IL 60901

P.815.929.9258 P.815.929.9200

walter@waltersanford.com

"I think we had a great meeting in Savannah. The comments received in your presentation were all positive. Thank you so much for what you did for us. It was a big help to ensure a great meeting for us. You always go the extra mile." Maurice Johnson,Realty World

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Do You Add Consistent Value for Your Business and for Your Clients? April 12th, 2016 | Posted in General Real Estate

We recently received a question from some of our favorite coaching clients. The Premier Team is lighting up the upper end, downtown, and historical St. Louis real estate markets.
As coaching clients, they are challenging for me because they demand new value and service for their clients each week. In fact, Chris and Lisa know that to dominate an industry they need to have tools that the competition does not. They require tools that not only make the job easier, but also more profitable for their clients.
Here is the result from a recent request from which we created a letter handout for the listing presentation and for advertisement in other media:
The Premier Team Helps Clients Achieve Goals
through Pre-Launch Inspections
We have found that all buyers should have their purchase inspected. When we represent our sellers, the negotiations start with offers and potential counter offers. Traditionally, the buyer obtains and pays for an inspection of the property. The negotiations start again.
Rightfully, the buyer wants any challenges to be addressed; the seller feels they had lived with the challenges, sold the property with the challenges, and do not want to repair if they have no chance to enjoy them. It’s a difficult negotiation and can sometimes leave clients unhappy.
As we do many times, we have devised a system to help all involved parties know what they are buying and selling while also saving our client’s time, trouble, and money in the mix.
When we custom-design a marketing plan to achieve our seller’s goals and receive a commitment to market the property, we then offer our seller an opportunity to have the property inspected by our team inspector. The inspector will review all systems of the home and write a thorough report on the findings. We then discuss the findings with the seller and place any challenges in different categories. There is the “must fix now” category that deals with safety of the occupants or the property. There is the sub-standard category that is below the expectations a buyer would expect of a property for the area and price range. Lastly, there is the upgrade category for items which buyers would like to see done.
By having the report and determining what categories, we can offer many opportunities to our seller clients:
1. We eliminate the “rush into a repair” syndrome by having the repair report early and without the input of a buyer waiting for an answer to complete the next step of their purchase.
2. We have time to contact numerous vendors who will compete for the best price.
3. We have time to make decisions on the condition vs. price, which is much better determined before the buyer has made a successful offer.
4. We know early if there are any big ticket items that would prevent a sale from a buyer not wanting the property or the seller not being able to afford the repair.
5. We can choose the mode of repair before a buyer has a stake in the decision. There are many ways to repair rather than replace. Replace is usually how a buyer wants the challenge remedied.
6. We have time to get government or utilities involved if needed.
7. A seller’s net proceeds or “net sheet” can be professionally prepared.
8. We might receive a higher offer when a potential buyer is presented an inspection with all the repair receipts attached.
9. The one to two week wait is eliminated by having a report done before an offer rather than waiting for it after the offer.
10. Since we are paying for the report, we get to choose the inspector. Finding inspectors without the drama gene is important.
There are many other reasons to be knowledgeable about the property, prior to negotiations. We have arranged a team of inspectors who have agreed to wait to be paid for their inspection and report until the seller receives their proceeds from sale. This cures the cash flow problem.
We, at Premier Real Estate, believe that this is not only an outstanding investment that pays many dividends, but it is also the most professional way to handle a sale including all possible disclosures to all potential parties. Should you have any questions, please feel free to discuss. We have much experience in this little utilized system to increase our seller’s net proceeds.
Many people have a coach who has not been through the ups and downs as Walter Sanford. Many coaches do not have the same achievements as Walter. He has millions in cash flow equity that came from his real estate business, and he developed systems that can be implemented without any special abilities.
We currently have a few availabilities in our coaching program, and this year’s schedule has some availability for seminars as well.
Visit us at www.waltersanford.com or call us at 800.792.5837 for more details on coaching, speaking, or training materials.

Faking It Until You Are Making It March 10th, 2016 | Posted in General Real Estate

Many times, my clients are asked about items in which they have very little experience.  Since my clients are experts in the foundational activities of obtaining a client’s goals, then what they have to do is pull the client away from the narrow view and show the big picture.

Let me give you an example of a coaching client’s request this week:

from coaching client:

Hi, Walter.  How do I answer this woman’s question?  I have not sold condos in Soggy Bottom!

from potential client to coaching client:

Thanks for your newsletter.  How recently have you sold a condo in the Soggy Bottom area? Please email or send me your card with your contact information.  I want to give my brother your contact information without all the other information you have in your newsletter.  You may want to include any information you have on selling condos in Soggy Bottom area. Thanks.

from me to coaching client:

This is my suggestion on what to send to your potential client –

Here is every condo we have sold in Soggy Bottom.  (Go back 5 years in the office sales then get off the subject.)

This is my marketing plan that works well in obtaining quick offers on fairly priced condos.  (Insert your plan.)

Most important today is pricing by using the same comparables that an appraiser would use.  I have included all the comparable sales from the last 6 months.  These are the sales that an appraiser will use to determine whether the bank can make a loan for your buyer that I will find.

I am looking forward to meeting your brother so that we can go through the sales and determine which ones to highlight for the appraiser once I sell the condo.

Also, I am a hard working salesperson but a great sales effort involves every real estate agent in Soggy Bottom.  I am looking forward to presenting that information as well.

Here are some thoughts that you can think about until we set up our meeting:

  1. I have a flyer service that will deliver to every in box in Soggy Bottom a complete information flyer including 5 ways in which the condo can be sold therefore giving many options to the buyer and their agent.
  2. I will hold an open house, catered by one of my team members so that we can maximize the agent participation.  I will also send invitations to the neighbors so they can talk up their wonderful building to their family, friends, and co-workers.
  3. Put the features and benefits of your condo on over 157 real estate websites.
  4. Send weekly reminders of the property to every agent who has ever had a sale or listing in the building for the last 3 years.  If they know the building, they love the building.
  5. Attack social media with pictures and benefits of living in your building.
  6. Put the property on every REALTOR® tour, once again catered.
  7. Notify all tenants in the neighborhood that buying can actually be less expensive than renting.

 

These are just seven points of a very successful 35-point plan.  This plan added to my communication skills will keep you and your brother in the loop, and the plan has wowed many past clients.  In closing, I have included some testimonials from my condo buyers and sellers.

I’m looking forward to hearing from you soon.

Sincerely,
(Name)
(Company Name)

It is too soon to see if my client got the listing presentation, but, for all of you, get around the question you cannot answer with loads of value for the client.
Walter Sanford has been designing and implementing real estate systems for 30 years. One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry. Do what works, do what is proven. Hire Walter Sanford. Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com.

 

Thirty Years of Real Estate Wisdom February 10th, 2016 | Posted in General Real Estate

It was a welcomed surprise getting this list below in the mail from a long-term student.  Early in my speaking career, he attended my seminars and even joined us in San Diego for the National Association of REALTORS®.

He has built a real estate empire emulating my systems, but he also likes the way I work the systems.  Over the years, he has written my little sayings that drive home a point and he has shared his list with me.

I can’t say for sure if I am the originator of each of these sayings, but I did make them “mine” through the years.  Which ones can you make yours?

  1. Buy other agent’s databases.  It’s like buying a business for very little money.
  2. Always go where the equity is!
  3. Make your pitch to the people who need you the most.
  4. If you are undecided whether or not to increase your expired prospecting, don’t.
  5. Delegate everything except $100 and above outlays.
  6. Always sign your own checks; no matter how much money you have.
  7. Be your own best client; make an offer on a home today.
  8. You just can’t make some people happy.
  9. If you have thought about firing someone more than three times, do it now.
  10. Are you doing the most productive activity right now?
  11. Turn down a minimum of 20% of all listings.
  12. Don’t work with the bottom 50% of buyers.
  13. Give your assistant all the work they think they can handle and add 20%.
  14. Affiliates work for you; never help with their job.
  15. Add a new lead generator that happens without you being there.
  16. I hate real estate many times a day, and that’s okay.
  17. Mentors are many; follow results, not words.
  18. Accomplishment almost never lies.
  19. Plan your life or someone else will.
  20. Make a plan for the rest of the day and see if you can stick to it.
  21. You only make money when you are talking to a buyer or seller.
  22. Could you have an assistant handle 100 rental properties?
  23. Who owes you business?  Ask for it.
  24. Tell a buyer today that you have a certain procedure they must follow.
  25. Buyers who complain the most are usually the ones who appreciate the least.
  26. You’re only a hero when the transaction closes.
  27. Sellers who overprice their listings are the ones you call everyday with updates.
  28. Refer out buyers with whom you are not working.
  29. Charge sellers for service that other broker’s don’t offer.
  30. Charge a transaction coordination fee…today.
  31. Have your broker, title officer, and escrow officer transfer 10% of your commissions to a bank.  You’ll never miss it.
  32. Old expireds and FSBOs don’t have competition.
  33. You make more money selling higher priced properties.
  34. No open houses, tours, emotions, signs, showings, and less accountability with apartment buildings.
  35. Big hat, no cattle means you lease your ranch.
  36. Get mad at a lack of productivity.
  37. On what level do you operate?
  38. Both sides of a transaction are easier than one.
  39. Charge garbage fees and raise your yield, just like lenders.
  40. There are only three things that sell a listing: 1. a buyer; 2. the right price; and 3. a price reduction.  Never depend on #1.
  41. Don’t worry about being the best, biggest, or skinniest – just the most profitable.
  42. Never watch your competitor.  It’s easier to create than copy.
  43. How much money does it take to buy a small rental house or condo?
  44. I always make more money when I work longer hours.
  45. I always make more money when I do stuff I like.
  46. I always make more money when I delegate stuff I don’t like.
  47. I always make more money when I make someone make me do stuff that I can’t delegate and don’t like to do.
  48. What bugs me measures my size.
  49. I get to choose my attitude with any real estate situation.
  50. You can tell clients “That doesn’t work for me.”
  51. Tell the truth to your clients.
  52. You get paid more when you tell someone NOT to list or buy.
  53. Have just a little fun today.
  54. Never be compliant with the first “no,” first hurdle, or first mountain to climb.  All the money and happiness come after the third or fourth “no.”
  55. Much of the initial impact of bad news will be due to the stigma attached to the event.  Are you sure you really care that you lost that listing?
  56. What really separated me from the competition were the extra hours I put in and the better investments that I made.
  57. Be careful with whom you share your success.  Can they handle it?
  58. The people you hang with will rub off on you.
  59. Use direct communication.  What do you really mean?  Say it more often.
  60. Practice your “no’s.”
  61. Simple distraction brings answers – a yogurt, a walk, a workout, a movie.  The answers will come.
  62. Have a client drop their price or cancel on three listings today.
  63. It’s better to have the day off than work with clients who aren’t going to buy or sell.
  64. Iron-fisted control is why they pay you.
  65. Be loyal to your army of helpers, assistants, and affiliates.
  66. If you are producing, the broker works for you.
  67. You’re probably right; you shouldn’t have lost your temper.
  68. I’ve known the same business people for twenty years; now, most of them are running the city.
  69. Write a lot of thank you notes.  Dictate them!
  70. Can I do something about it?
  71. Let everyone else try to cure it first.
  72. All things being equal, the nicer agent makes more money.
  73. Settle lawsuits early.
  74. The greater the pain, the bigger the break-through.
  75. Only invest in things you know. It takes a long time to know things.
  76. Generosity is a good deed when done quietly, done inconspicuously, then immediately forgotten.
  77. Treat people like what you want them to be.
  78. God gave you talents and blessings. Use them.
  79. Re-define loss as challenge.
  80. Your decisions determine your outcomes.
  81. Obstacles make you resilient.
  82. Recall your history of mastery.
  83. Ask for help more often.
  84. Spend one-half hour a day and create a new idea.
  85. Carry thank you notes with you.  It feels good in many ways.
  86. If you buy your leads and they work, there will be fewer and they will cost more next year.
  87. If you go for continuing education credits, find an easier way.
  88. If your assistant does not pay for himself/herself, fix that.
  89. The ideas you pay for are usually better.
  90. Someday, quit working for commission and let your commission earn you rent.
  91. I have had the Rolls Royce and regal homes, but Christ and cash flow are better!

 

I hope you enjoyed this list.  On many, I can remember the initial circumstance that occurred to create the saying.  Learn from mistakes and learning from my mistakes is less painful for you!

Many people have a coach who has not been through the ups and downs as Walter Sanford. Many coaches do have the same achievements as Walter. He has millions in cash flow equity that came from his real estate business, and he developed systems that can be implemented without any special abilities.

We currently have a few availabilities in our coaching program, and this year’s schedule has some availabilities for seminars as well.


Visit us at www.waltersanford.com or call us at 800.792.5837 for more details on coaching, speaking, or training materials.

A Compilation of Goals from My Coaching Clients January 11th, 2016 | Posted in General Real Estate

Many times, new coaching clients don’t know what to ask for.  They don’t get “turned on” until they hear what others are planning to get.  Real estate sales is like a buffet — almost anything you can imagine.  My clients tweak lead generation, answer objections with value, speed up the process, and don’t get involved in bad deals or with low/no profit individuals.  They start seeing their needs met and then seed capital for the future.
It is interesting that many of my second and third year coaching clients have very similar goals.  I thought you might be interested in them as well.

  1. Transfer 20% of every commission check to an online account like Fidelity.com at the same time as the deposit.
  2. Obtain disability insurance.
  3. Open a 5-2-9 account for my child’s college education.
  4. Set up a plan to pay all non-real estate secured debt that has higher interest rates than the rate on my highest mortgage.
  5. Buy one more break even or positive cash flow property with no balloons.
  6. Start one in-house lead generation activity aimed at a hot demographic to have less reliance on paid consolidator lead generators.
  7. Create a manual for all office activities so we do not forget profitable activities and find it easier to train an assistant.
  8. Break database solicitation down to a call session every working day.
  9. Buy a good quality, used vehicle with low mileage.
  10. Get up a half-hour earlier and read the Bible.
  11. Eat all frogs (distasteful activities) in the first hour of office time.
  12. Establish vacation and time off goals.
  13. Plan capital improvements to rental properties.
  14. Buy guns, ammo, dehydrated food, water, generator or other disaster preparedness items.
  15. Create better habits including gym time, walking, running, cardio, weightlifting, less sugar, better food.
  16. Determine net worth for comparison with future years.
  17. Set friend goals — either increase the number or have deeper relationships.
  18. Make a will or better yet, a trust.
  19. Refinance into fixed rates.
  20. Pay all estimated taxes and keep income taxes current.
  21. Institute various plans to increase the “at bats” with sellers.
  22. Reduce money on buyer generation and move it to seller generation.
  23. Fund retirement accounts.
  24. De-clutter using eBay and garage sales.
  25. Plan fun activities to look forward to with family.

These top twenty-five represent most of the ideas contained within my clients’ goals for 2016.  I hope this will give you some ideas in finding your passion.

To obtain Walter’s training for your business in a seminar or personal coaching, call us at 800.792.5837 to create a plan that works for you.

Walter Sanford has been designing and implementing real estate systems for 30 years. One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry. Do what works, do what is proven. Hire Walter Sanford. Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com.

Ten Ways to Increase Your Commission – Part Two December 10th, 2015 | Posted in General Real Estate

Last month, we covered the first five ways to increase your commission, and we’re wrapping up the year with the last five ways to increase your commission.

If you missed the first five ways from last month, click here.

  1. Include a transaction coordination fee.

I started using a transaction coordination fee about 25-years ago.  Many offices have them as standard fees now.  They range from $250 to $1250, depending on your nerve and price range.

It is easy to answer their objection:  “I understand that with a 7% commission you find that another $475 seems excessive. Allow me to highlight the items that most agents cannot do or don’t do.  I spend more overhead than agents in this area; it’s not the market but the marketing that achieves your goals. I have evaluated my excess overhead and my expected transactions this year; the number runs about $475 per listing to provide these extra services.”

If you cannot sell the transaction fee, back off a bit: “I understand.  Do all the other terms meet with your agreement?  I have already mentioned that I think I can do wonderful things with the marketing of this property and achieve your goal of (core motivation).  If you move ahead with my plan, I will personally absorb the additional overhead reimbursement.”

  1. Offer credit.

If you have to negotiate commissions, offer credit toward the property they buy from you after the closing of their listing.

  1. Offer credit-yes, again.

Same as above, but only offer the deduction if you get both ends of the transaction.  It does result in lower commissions, but only if you get both ends.  Most agents (except my coaching clients) rarely get both ends.

  1. Take reasonably alternative commissions.   

I have taken commission in the form of bullion from a coin dealer client, restaurant gift cards, and antiques.  All, of course, at more than the commission was in “real” money.  You can net more by taking things you like or can use, rather than taking a discount for cash.

  1. Get a new house.

I have taken all my commission in the form of a house at the end of a long string of sales with one builder.  Builders need cash flow.  By taking my commission at the end in the form or a house or credit toward a house, it helped to mitigate the commission-ectomy so often ably performed by my builder-seller.

I coach top agents on a limited basis.  If you are interested in coaching or a speaking engagement, please call our office at 800.792.5837.   Be sure to place your order and take advantage of half-off our already discounted internet prices for training systems.

Don’t re-invent the wheel, use 30 years of real estate wisdom and experience to your benefit!

 

Walter Sanford has been designing and implementing real estate systems for 30 years. One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry. Do what works, do what is proven. Hire Walter Sanford. Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com.



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