Source: Illinois Association of Realtors
By: Senior Editor Ann Londrigan

REALTOR® Leslie McDonnell of Re/Max Suburban in Libertyville worked “every deli on the planet” before turning to real estate while a single mom 21 years ago. She broke into top-producer status in 2000 after attending a Howard Brinton Star Power Systems conference.

“My a-ha moment came when I realized I am running a business, not selling real estate,” says McDonnell who shattered her seven-year ceiling of $20 million in sales volume then shot to $59 million after incorporating lessons from Star Power. In 2005, she formed her first team with one buyer’s agent and two administrative assistants and reached $90 million.

“Systems are the key to the whole thing. I use action plans for every person in my database.”

Here are Leslie’s tips.

1. Cancel a credit card to force cost-cutting. “I cancelled a credit card and did it on purpose so all my recurring charges had to call me and ask if I wanted to renew with a different card because the one on file did not go through. It forced me to make a decision on whether to continue the service.”

2. Don’t take over-priced listings . . . or “try-ers” “I know the market and in most cases if I feel that the seller will be difficult and will not look at the facts, data and logic, they will be tough to deal with. In the beginning of 2007, I still took some over-priced listings and worked on the price reductions. And I don’t take sellers who say they just want to ‘try the market.’ I think sellers who are ‘try-ers’ become the biggest criers.”

3. Focus on buyer leads. “Since the beginning of 2008 I’ve changed my focus to generating buyer leads. Right now that is where the money is. I use Real Pro Systems, a lead generation, drip campaign that captures leads for me. I use a site named LakeCountyMarketValues.com and others.”

4. Create a “stealth site.” “I created a Web site through Real Pro Systems that generates leads for buyers who want to purchase a foreclosure property (www.IllinoisBankOwnedHomes.com). I market the site with classified newspaper ads. A lot of people feel a foreclosure is what they want to buy in this market to get a deal, but when they understand the process and find out you can’t even turn on the water or you have to pay to check the water, some people realize they really don’t want a foreclosure. Then you still have them as a buyer lead for something else.” [Editor’s note from IAR legal counsel: If you are a real estate licensee and you use or think of the term “stealth” with regard to your advertising or your business, especially when using the Web, be very careful. Any advertising by any licensee must include the licensee’s sponsoring broker’s company name and must be truthful and not deceptive in any way. See Sections 10-30 of the Illinois Real Estate License Act of 2000 and 1450.140 and 1450.145 of the Administrative Rules under the Act.]

5. Get the designation you always wanted. “I went back to get my Certified Residential Specialist designation and already got a referral from someone I met there. Getting the CRS was on my list of things to do but I was always so busy I could never stop. I also earned the Certified Distressed Property Expert designation to better understand the short sale process. I needed a bottle of Tylenol when it was over but if you don’t know the answer to a question in a short sale, then you have zero chance of getting the listing.”

6. Stay away from negative people. “I do know agents who are suffering, but you have to stay positive about the market. When we break out of this down market, there will be a lot less people in the business and a lot of money to make for the people who are getting ready now. There is an
unbelievable amount of pent-up demand and while I’m thinking this will be the hardest year yet, I am getting some multiple offers now, especially for people who are pricing right. I think in 2010 it will start to turn.”

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When we spoke with REALTOR® Patricia Rodriguez for this interview in February, she was taking a few days off—her first vacation in over a year. At the time she worked seven days a week selling condo units
at 3033 and 2930 Sheridan Road in Chicago as a sales associate with Jameson Realty Group. She says her breakthrough to top-producer status
came in the last three years. Here are some tips Rodriguez credits
to her success in real estate.

7. Improve your improv. Getting buyer or buyer’s agent objections? Rodriguez says a quick, informed response can save the sell. “If the buyer wants a balcony and our building doesn’t have any, I say ‘Let me tell you
about our rooftop where you can have a party with 50 people.’ REALTORS® should take some sort of improv class so they can think more quickly. Being able to respond quickly and expertly makes people feel more secure and more agreeable.”

8. Get them nodding in agreement. As a sales tactic, Rodriguez uses the line “Do you know what I mean?” to get people to nod their head yes in agreement. In sales, she says, the more you can get a prospect to say yes and agree with you, the more likely the close. Says Rodriguez: “If I’m talking about the size and location, I’ll say ‘Isn’t this living space larger than what you will see out there?’ And they will agree with me.”

9. Put your cell phone in the MLS so you don’t miss a call. “More than half my appointments give me less than 24 hours notice and so with all my MLS listings I put my cell phone out there. In this business there are too many agents who say ‘no showings on Sunday’ and ‘must have 24 hours notice.’”

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REALTOR® Kyle Killebrew of the Real Estate Group in Springfield started his business in central Illinois in 2004 and focused his goals on completing a lot of transactions to build up a referral base. In his first year, he had 50 transactions, then 80. Last year he closed over 100 transactions. “As with many commissioned jobs, putting in the extra hours equals additional income,” says Killebrew, who affiliated with a licensed assistant last year to help grow his business. “There will be time for a breather when I get to the next level, but for now working weekends and weeknights should be considered part of the job.”

Here are Kyle’s tips.

10. Discount the media. “A lot of REALTORS® get caught up in it, that things are so bad. I haven’t let myself feel like that for one second. When you are in a job that is commission-based, it is easy to hide behind the media and negative thought rather than working hard. I’ve focused on working hard and that’s worked.”

11. Be ready to talk about the market. “I really try to arm myself with market knowledge so when I get in a social situation and people will start asking questions about the market I have educated answers.”

12. Don’t push. “Some agents push hard to be successful; I have the opposite approach. If I meet someone in a social situation who says they are interested but don’t know if they are going to buy a house this week, I say ‘I have 30 more years to sell real estate so I have a lot of time.’ I think it takes the pressure off. I can see their body give a sigh of relief.”

13. Find the neighborhood advocates. “I’m door-knocking in some neighborhoods,” says Killebrew, who farms three neighborhoods of over 1,200 households. “I’ve gotten to know the neighbors ‘in the know’ so they can tell me what’s going on, who’s getting ready to sell.”

14. Grow a niche. “A niche I focus on is small business owners and their employees. People who have successful businesses appreciate hard
work and they want to refer their friends and family to someone who has a proven track record of performance, just as I do when I pass referrals. When I meet people who have influence, I make an effort to let them know who I am and how I perform.

HOW TO HANDLE LOW-BALL OFFERS

Leslie McDonnell uses facts, data and logic to turn around a lowball offer, presenting wellresearched comparables on the most recent sales in the area.

Says McDonnell: “Instead of arguing with the REALTOR® I turned around and said I will send you the comps that I used and they came up the next day. You can whine all you want but if you are not presenting the data, chances are dramatically diminished of getting things done.”

Kyle Killebrew likes to turn the table in a low-ball offer situation. Says Killebrew: “I ask the buyer or buyer’s agent who brought the offer to show me and the seller a comparable home sale that justifies the low-ball offer. If there’s a prior comparable to make the offer make sense, we investigate otherwise we move forward looking for a realistic buyer.”

He adds: “If they press hard, I ask them to meet with the seller directly and let them present the offer. That may make them think twice and get educated.”