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walter@waltersanford.com

"Thank you so much for your spectacular presentation at our event last week! Your energy level and knowledge are what made it a very successful event for us!" Sue Woodard, CTX Mortgage

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Time-Blocking Part 1 May 20th, 2019 | Posted in General Real Estate, Other Interests, Real Estate

Without making time for the most profitable activities, I can tell you exactly what will happen — you are going to be spending time on the most urgent items which are almost never your most profitable activities.  The reason why my lead generation book is so popular with top agents is because it points to the direction of the most profitable activities in real estate.  One needs now to decipher how to implement these activities on a consistent basis.

Many of the activities we cover in our systems are not done consistently by many top agents in our country.  For instance, you need to choose a few seller lead generation activities.  Whether you choose for sale by owners, expireds, mature people in large homes, out-of-state owners, or any of the any other amazing systems that will produce seller leads, you  need to find the time to make sure they are getting done on a consistent basis.  By implementing the ideas, your listings will go up, increasing your buyer inquiries.  Buyers, being the demanding lot that they are, will soon cause you to be jumping through hoops at all hours of the day, if you have not followed some of the ideas shared in Buyer Net Profit.

Without time-blocking, you will find that you will always be urgently busy without getting your most profitable activities done therefore your listings will fall and buyer activity will fall.  The largest difference between mediocre real estate agents and top producers is that top agents always find time to keep their pipelines filled with the most profitable activities.  The most profitable activities are, of course, lead generation activities.  These activities are normally time-blocked by the top agent to do himself or herself or activities for the assistant to complete.

Let me give you an example – at 9am every morning, I knew that I would spend 15 minutes researching the expireds of that day.  I spent more time than anyone else researching and getting better names, addresses, and phone numbers. I then spent another 15 to 30 minutes preparing letters for mailing in the firecracker tubes.  I would then start calling those same prospects.  On my way back from lunch, I would time-block my day to stop by one of the most expensive expireds each day.  On my way home, I would try reaching those expireds who I could not reach earlier in the day.  The next day after I called all the expireds, I went ahead and sent them my crumpled letter from the previous day.  There was little or no negotiation with the time-blocks.  The only thing that would allow me to look the other way is a listing presentation or a family emergency.

The other activities that I would like to make certain that you time-block are just as important as your seller lead generation activities, especially activities where you knew the exact number that you need to complete.  Here is what I mean — if you have a 1,000 person database and there are approximately 300 working days in a year, you should be calling six people a day to get through your database with phone calls twice in a year.  It would most likely be more calls in a day, because I would like for you to try calling three times before giving up and putting them back in rotation. The same goes for the letters to the database – if you are going to be sending one letter each quarter and there are 100 working days in a quarter, you will be sending approximately 10 letters a day to get all the letters to your database for that quarter.

 The magic of breaking your business plan into time-blocked pieces is that it allows you to “eat the elephant” faster and more efficiently.  It also allows you to write personal notes on those letters, hand-sign them, and see if any of the letters might require special handling.

Next post I will discuss time-blocking for listing leads, buyer leads, current sellers, and more.

Since I have retired from the speaking circuit, I have my systems (large books with software) that I was selling from the back of the room at about $1500.00.  These are my newest products and this package includes everything that I have ever done.  As a “pay it forward” opportunity I am now selling these same books and software at my cost, about 94% off.  This is the start of your plan to get to the point where you are living the dream.  This is not anything but selling you the best real estate training materials in the world for 94% less than they were selling for a couple of weeks ago.  You will get 9 books, a whopping 40 pounds of checklists and information that is easy to use.  These volumes have been used by agents in the US and Canada to be the best agent in their market place.  Go here to pick up your foundation for the future.

A Business Plan For A Great Agent – Part 2 May 10th, 2019 | Posted in General Real Estate, Other Interests, Real Estate

This is part 2 of a business plan for a 50-transaction a year agent with two assistants who have goals to double your business. (go here to read part 1)

Time-Blocking:

You need to time-block all communication periods.  The hardest item to control is the access you give the world.  At your level of production, it is hard to move forward unless you control the interruptions.  In two hours each day, have two time-blocked periods that everyone knows about.  Please fit all outgoing calls, E-mail, and snail mail during these times.  Voice mail can be monitored and problems handled (or begun the process of being remedied) so when the return call is made to the caller, the problem will then be handled or soon be resolved.

Listing Leads in the “A” Class – The “A” class includes anyone interested in listing in the next 90 days.  These individuals should get a call from the agent once a week.  This is a time-blocked activity for the agent.  If they say, “Don’t call me for 60 days” look for something of value to call them with anyway, like maybe a new comp.

Pendings — All pendings should hear from the closing coordinator once a week and from the agent once a week.  You should nicely request referrals in almost every contact.  This is a time-blocked activity for the agent and the closing coordinator.

Seller Contact — Sellers should be contacted once a week by the agent.  This is another time-blocked activity.  The goal is to have them believe that you are working toward their goals and also to achieve a price reduction or a value enhancement.  Sometimes an assistant can fill-in with these calls for the “easy-to-handle” sellers, if the property is already priced correctly.

Lead Generation – The lead generation activities that we talked about earlier in the first section need to be time-blocked.

Buyers in the “A” Class – This needs to be a time-blocked call once a week from the buyer’s rep to make sure everyone is on the same page.

Buyers in the “B” Class – This group is to get handled with auto-list software.

Sellers in the “B” Class – This group is handled with calendared call back dates.

Balance — Everyone else is handled with the database program, which we have already detailed.

Meetings – Have an office meeting once a week.

Hot Sheet – Review of the daily hot sheet needs to be a time-blocked activity by the agent.

Confirmations — All appointments need to be confirmed before leaving the office.  This can be an assistant activity.

Sellers:

Hit Ratio — The hit ratio on closed listing contracts needs to be increased by being more concerned with the seller’s goals.  You become more concerned by asking more questions and having them interact by completing your questionnaire forms, prior to the meeting.  These question lists and the entire process is detailed in our system entitled Beating the Competition Every Time.

Listing Periods — In this market listing periods need to be increased to a year,

Commission — Increase your commission to 7%.

Listing Presentations — Cut listing presentations to half an hour for the average one.  Do not travel more than a half-hour for a listing, unless unusual circumstances.

Double-Ended Transactions:

DETs as Part of Your Buyer’s Program — As part of your buyer’s expanded services, you need find them a property from your database (another reason to contact your database), FSBOs, old expireds, mailings to area they want, etc.  This will WOW the buyers and increase your double-ended transactions (DETs).  DETs are the highest profit of all real estate transactions.

DETs as Part of Your Seller’s Program — On listings, please hold the listing as long as legally and ethically possible.  Put up sign and send just listed cards on the same day.  Hold only one open house that Sunday.  Contact all of your buyers in the “A” and “B” class and the balance of your database.

Buyers:

Work with fewer buyers. Eliminate the time-wasters by providing “hoops” that allow them to eliminate themselves when they will not participate in systems that are for their benefit.  They need to answer the thirty needs-analysis questions, be pre-approved by a lender looking to save them money with better products, agree to meet at your office to discuss your “unique inventory levels,” and sign a  “loyalty agreement” so you can spend the money necessary to achieve their goals.

Office Systems:

Office Checklists — All major office systems need to have a checklist.  Please review the table of contents on our website for the book entitled Stellar Checklists.  Assistants should be paid on the completion of transactions, where the checklists were completely done.  Assistants should be paid stipends for leads produced.

Lead Generation Checklists
 — Checklists should leverage lead generation.  For instance, a listing checklist should provide for the just listed cards sent out and the follow-up call.  It could also require the operator (assistant) to send letters to all old expireds in the area to let them know that buyers will now be brought into the area by your marketing efforts.  On the closing end, we should integrate such items as referral generation and just sold cards into the closing checklist.

The series of these items should be considered a minimum for an agent at your level who just wants to do more listing presentations and work on personal real estate development.  It allows for creative thought and leverages the most profitable and productive activities in real estate.

 

Since I have retired from the speaking circuit, I have my systems (large books with software) that I was selling from the back of the room at about $1500.00.  These are my newest products and this package includes everything that I have ever done.  As a “pay it forward” opportunity I am now selling these same books and software at my cost, about 94% off.  This is the start of your plan to get to the point where you are living the dream.  This is not anything but selling you the best real estate training materials in the world for 94% less than they were selling for a couple of weeks ago.  You will get 9 books, a whopping 40 pounds of checklists and information that is easy to use.  These volumes have been used by agents in the US and Canada to be the best agent in their market place.  Go here to pick up your foundation for the future.

 

A Business Plan For A Great Agent – Part 1 May 3rd, 2019 | Posted in General Real Estate, Other Interests, Real Estate

This is a business plan for a 50-transaction a year agent with two assistants who have goals to double your business.

Assumptions:
There are some assumptions that have to be made.  Assuming that you are already so busy, it is difficult to add new systems unless something else is eliminated from the schedule.  You are looking for more balance in your life.  You are starting to understand that the true path to financial independence in real estate is through smart real estate investments.

Seller Lead Generation:
Database — Work your database or sphere of influence.  Set up daily time-blocked calls each day to get through database in two times a year.  Leave three messages before moving on.  This is to be done by the agent, not the assistant.  Send four letters a year.  This is also a daily time-blocked activity; however, prep for the letters can be done by an assistant.  The “rainmaker” should add personal notes to each of the letters.  Have weekly E-mail blasts about new listings taken or small points of interest regarding market, values, etc.  This can be handled by an assistant as well.

Just Sold Cards — In the current market, we are eliminating just listed cards and increasing just sold cards.  I want the numbers to be large, and please see my more aggressive cards found in our Ask Wally archives from July 2008.

Expireds – Do better research.  Call in the morning with a voice mail message.  Step up the interest with a more aggressive letter in a marketing envelope like firecracker tube.  Make an evening call.  If you get their voice mail, send the crumpled letter solicitation letter on the next day.  Visit one expensive expired per day.  This is a time-blocked activity.  Though it would be more effective if agent did the solicitation, it can be run by an assistant.

FSBO – These are to be researched by agent’s assistant then they are to be solicited by the agent’s lender.

Out-of-State Owners in Your Area – They get four letters and four phone calls per year.

Internet – There is less emphasis on following up on buyer leads.  Please have them complete a form.  Follow-up with a call to ask them some questions.  Get them pre-approved.  Offer them the expanded service package.  Meet at your office for the first time to have them sign a buyer broker’s agreement.  If they miss any step, refer them out.

Have your site cater more to sellers. Have helps for FSBO, expireds, and a VIP section for past clients.  Also, have pre-listing documents that a seller can access, prior to a listing presentation.  Buy search words/phrases for your area.  When someone searches for a real estate agent in your area, you should come up first page by way of an organic search or paid placement on Google and Yahoo.

Buyers generated on the internet have less than a 2% conversion rate. There are better conversion rates on the activities above.  Most long term practitioners start to dislike the buyer side of the business.  Your listings will produce all the buyers you need.  When designing your personal website, make it more seller-friendly.  Have it support all of your seller lead generation systems, your listing and pre-listing activities, and your listing marketing efforts.  Please change your E-mail address to match your website.  If your current E-mail address is a Gmail.com, Yahoo.com, or Hotmail.com type account, it is not a professional, business address.  A webmaster may be more beneficial, efficient and profitable than an assistant in doing these items.

Builders — Have your top, local builders received monthly land listings from you, and offer them the long list of things that you can do for them.  This is to be time-blocked activity, and it can be run by an assistant.

Attorneys — Add them to a quarterly mail out of value-added items that we do for them.  This is also to be time-blocked, and it can be run by an assistant.

If you do not have time to complete any of these items, cut the lead generation activities to be done on the most expensive properties.  Raising your price point is the number one net income generator!

Next week in part 2 I will discuss time blocking, sellers, buyers, and office systems.

Since I have retired from the speaking circuit, I have my systems (large books with software) that I was selling from the back of the room at about $1500.00.  These are my newest products and this package includes everything that I have ever done.  As a “pay it forward” opportunity I am now selling these same books and software at my cost, about 94% off.  This is the start of your plan to get to the point where you are living the dream.  This is not anything but selling you the best real estate training materials in the world for 94% less than they were selling for a couple of weeks ago.  You will get 9 books, a whopping 40 pounds of checklists and information that is easy to use.  These volumes have been used by agents in the US and Canada to be the best agent in their market place.  Go here to pick up your foundation for the future.

Setting Up Your Expired System April 26th, 2019 | Posted in General Real Estate, Other Interests, Real Estate

Question:

I am working on getting an expired system set up.  I know that we talk a lot about this, but I am wondering if you have a checklist or schedule on the process – from the first call to the emails and letters, to the next calls?

I have heard over and over that your system works, and I want to put my all to it. I have looked through your books and that is the only thing I am not finding.

Thanks for your help!

Gayle

 

Answer:

I have two systems.  They are similar with some small differences.

Number one is in detail in the expired chapter in the book, Grow Your Leads: Just Add Wa(l)ter.  Please read this chapter.

The second system exists in my “head” so there’s no written plan until now for you:

  1. Set up your search parameters for every morning including status, type of real estate, price minimum, and area.
  2. Set up the amount of time that it takes to call and write each a letter every day; create a morning time-block for these activities for 5 days a week.
  3. Get a system that finds phone numbers.  www.vulcan7.com is probably the best and it runs about $300 a month.
  4. Call the expireds with a short, value-filled call.  Leave voice mails when needed.  Send a letter that you like from the expired chapter mentioned earlier.
  5. Re-send the previous days’ letter (same letter, same people) stamped with the words: “PLEASE DON’T THROW ME AWAY AGAIN.” Crumple the letter, un-crumple, then mail. Yes, you’re mailing the crumpled letter.
  6. Use Saturday to re-call the people with whom you didn’t speak.
  7. Mail value-filled postcard to all people with whom you haven’t spoken.
  8. Put all good leads in a database for follow-up.
  9. Keep all research and make another call in 6 months.

 

Very few agents will ever make the above effort.  That is where you have the competitive advantage.

I have many other systems for seller lead generation.  You are free to customize for yourself, but the number of touches (contacts) and the quality of your phone numbers are very important.

If you need help with what you are going to say, please don’t hesitate to contact me again.  We’ll be sure to go over this during our coaching call this week together, too.

Lead generation is what builds your business and keeps your pipeline full, no matter what the market says! Get all my lead generation systems for only $90 (plus shipping). Go here to buy today!

How To Ask Attorneys For Business April 17th, 2019 | Posted in General Real Estate, Other Interests, Real Estate

Q: Good morning, my name is Dina (omitted). I’m a 23 year old real estate agent in Seattle, WA who has been in the business for a year in a half. I sold 17 homes within the first 6 months in the business and a total of 32 homes within the year and a half. I know I can do much better and take advantage of the current hot market here. I did take 4 months of personal time off in 2016 due to a broken engagement. I have been writing my business plan to focus on targeting divorce attorneys in the Seattle market. I found your letter very useful but was wondering if you have scripts and more content on focusing on divorce attorneys. I do look slightly older for my age — in the way I handle myself and dress, but I feel like I need help in providing attorneys an item of value when I schedule a quick meeting. Did you, Mr. Sanford, meet the attorneys or only mail with a follow-up call? I plan to mail the letter, follow-up call, and schedule a face-to-face. I would really like to know what to say when I call and what to say when I meet. I would really appreciate your help!

Dina

A: It might be better to approach the divorcing couple first with a CC to the attorney. After they are convinced you offer value, then they would want you to talk to their attorney. Remember, most attorneys just have the divorcing couple sign a grant deed or quit claim deed, which does nothing to get the vacating spouse off the underlying loan. You can fix all of that with a sale.

If you are approaching attorneys directly, the following value items will get their attention. Then you can follow up with a call and a face-to-face meeting where you can also “butter up” the gatekeeper with a cookies, Starbucks, etc. Here is the value you can offer:

  • Availability as an expert witness
  • Free 48-hour phone value analysis on local real estate
  • Free 15-minute consolation arranged with your CPA on the tax ramifications of selling decisions
  • Expert in 1031 tax deferred exchanges
  • Seller education service where your system sends the seller all activity that would affect the value of their home
  • Self-directed real estate IRAs

Also, another very hot area in Seattle is probate as directed by attorneys and executors. The best system for that is www.alltheleads.com. Tell them that I sent you and there MAY be a discount.

Yes, you always meet face-to-face, if they are going to be a great referral source, if they need help, of if they want to meet you. However, make sure it is not a time-wasting exercise. All you have to do is follow-up on the value propositions that you have already sent them.

Since I have retired from the speaking circuit, I have my systems (large books with software) that I was selling from the back of the room at about $1500.00.  These are my newest products and this package includes everything that I have ever done.  As a “pay it forward” opportunity I am now selling these same books and software at my cost, about 94% off.  This is the start of your plan to get to the point where you are living the dream.  This is not anything but selling you the best real estate training materials in the world for 94% less than they were selling for a couple of weeks ago.  You will get 9 books, a whopping 40 pounds of checklists and information that is easy to use.  These volumes have been used by agents in the US and Canada to be the best agent in their market place.  Go here to pick up your foundation for the future.



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