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Well, all the sellers are taking “happy pills.” There are more FSBOs, and they are tougher to talk to now. What are my coaching clients doing right now?

Agents are always leaving the business no matter if the market is great or rotten. In great markets, they leave because they move or retire. In rotten markets, they leave because they were never trained or they do not have the motivation to find the systems necessary for a tough market.

Going to bed late, waking up late -- the world is already at your doorstep so there’s no time to exercise. Maybe you will take a look at Facebook. Oops! Where did that 40 minutes go?

In 2005, we, the real estate community, saw interest only loans with no money down. We knew the banks were going to own a lot of property. I started systems that built relationships with banks so our clients would be in first place when short sale and REO listings would be considered. Now, the market is hot in some areas and getting hotter in others. One of the many trends in this environment is the growing “for sale by owner” inventory. The FSBOs still don’t have a ton of equity but are sure they don’t need a REALTOR®. Each of my coaching clients is great in re-educating FSBOs on the fact that they probably can net the same with one of our customized marketing plans, but the indoctrination always works better with a relationship.

Recently, Bridget McCrea of the Illinois REALTOR® Magazine asked me some questions on how to build a superstar referral system. Below is our communication exchange, and I hope it helps you!

Maybe you don’t achieve success because you wrote that goal down incorrectly. With everyone telling you to set your goals and to write them down, too -- why don’t you get everything you want?

I have the privilege of coaching some great agents. They have enough business so that they can effortlessly say “no” to business that they believe has a small chance of closing. You are in a contingency business. Your income is contingent on the property closing. Lawyers who work on contingency are very careful in choosing what cases they work, and they get a 33% commission in most cases. Similarly, you need to abide by the rules below…or you will be working too much business that does not close.

Recently, I was asked to answer some questions regarding an agent opening their own brokerage. Below are the questions with my responses, which have been taken from my personal experience and my experience with my clients.

My coaching clients are always working not where the puck is, but where the puck is going just like the hockey greats. If you have been watching the premier home builder Toll Brothers, then you see a lot of new hires and new stock prices. Building will be coming back.

Buyers under our representation had some idea of their responsibilities, but most buyers believe they are free to roam. You can always care for them better if you build a little corral. Have you have buyers sign this and have better control.