When the market changes or shifts, many potential sellers and buyers experience fear and uncertainty — and many agents, team leaders, and brokers experience the same. This fear and uncertainty can cause hesitation toward — even postponement of — plans for purchasing or selling.
As real estate professionals, you can be negatively influenced by this fear and uncertainty OR you can decide to be a positive influence in the market, helping others understand the options available to move forward in spite of these fears.
While it isn’t the responsibility of real estate professionals to push prospects to move forward when it’s not in their best interest, we believe it is our responsibility to make sure prospective sellers and buyers understand the options available that may allow them to move forward.
See the full video and transcript below.
Matt Hart: My name is Matt Hart. I'm the VP of Sales here at CINC. But without further ado, I'm gonna go ahead and pass it over to my good friend, Verl to, to give you guys some knowledge and, and hope we have a great interactive session today.
Verl Workman: Thanks, Matt. Welcome everybody. Good to see you all.
We're gonna talk about objection handling in a shifting market, but I wanna talk about it from a different perspective than what you might be thinking. What's happened right now is we're using old school scripts, and old school messaging with a new world problem, and we have new problems that are existing in the marketplace and people aren't responding to the way we've been messaging.
When I go online or I listen to calls where presenters and speakers and coaches are talking about how to. Overcome objections and resolve concerns? I feel like I'm going back to the eighties and we don't live in the eighties and this world is very different today. The consumer is more savvy than ever before.
They have more so many different sources of news and information and things like that that are coming to them, and we have a higher level of [00:01:00] emotional. Not, not only emotional intelligence, but emotional disconnect. And so as real estate agents and as brokers and as team leaders, when we're trying to convert opportunities, we really shouldn't be trying to figure out how to manipulate somebody by using a slick script.
What we need to do is we need to use emotional intelligence to find out what the real, real fear is or what the real threat is, and use threat based marketing then to address what's going on in the marketplace, to get them reengaged in buying and selling, and it's a very different approach. Are you guys, how many of you're open to a different approach of serving your clients?
Instead of the old, are you buying? Are you lying? You know, slick dialogue to get people moving forward. I think, I think that today the consumer's tired of it. Any, are any of you tired of it? Like tired of just having people push you all the time and try and talk you into stuff? You know, we switched the way we sell coaching a while ago and now it's not about selling coaching.
Now we now we do consultations and we just want to know if we think [00:02:00] we're a good fit and if we are, let's work together. If we're not, it's totally fine. Then we'll give you things that you can use. So that approach has completely changed the kind of people that come into the program. When you're talking people into buying and selling that aren't really ready to buy and sell, then you waste your time with people don't make decisions.
But when you help people remove threats and they genuinely engage cause they see a clear path forward, now you've got people that are gonna close. And that's what I want to talk about today is the threat based marketing. So you guys ready? Buckle. You ready to buckle up and let's go.
All right, so I'm gonna share my screen real quick. I have to do a quick share and then it's going to this top one and then I'll start my slide deck and we'll go from there. Right now you see nothing. Okay, so Matt, you see my center screen with your picture, your smile and mug on it.
Matt Hart: I see it.
Verl Workman: All right, we're gonna keep it. So here's what's happening in the marketplace right now. All of the, hang on a second, all the news is coming from cnn, Fox News msnbc, and [00:03:00] when anybody posts or does anything, it like goes viral. Yeah. How many of you saw this Elon Musk thing that came out last week?
Elon Musk predicted that home prices are gonna crash next. The commercial real estate's already in the tank and the whole market's gonna melt down. And then CEOs and of real estate companies and NAR tried to respond to, it was really interesting when this came out. Well, that's what your consumer is seeing.
And so here we are trying to sell 'em houses and they're seeing this and like, oh crap, I don't wanna buy a house right now. Everything's gonna crash. And so they're, they're using what's happening from the media. We've got people that are trying to sell their houses by themselves because they've gotten into a situation where they don't have the same equity cause they bought on top of the market.
And the life events that occur cause them to continue to move and they have a high level of frustration. And so what, what what happens is we have this crazy amount of data that's coming into the marketplace. Right now you're seeing this a lot. We have high mortgage rates combined with increased, increased inflation with a low supply of home.
And when you add those two things [00:04:00] together in the consumer's mind, it's creating this inability to move forward. How many of you would say, and you can go into the chats that you have people in your database that should be buying or selling right now, but are stuck and they can't move forward because they don't have, they don't know what They don't know what they don't know.
And so that fear of moving forward has caused them to be stuck. Well, that is a true, legitimate, authentic emotion of feeling stuck. And so when somebody feels stuck or overwhelmed or confused, what they do is nothing. And so the feeling or the emotional intelligence of that is when you feel stuck. We just don't move forward.
We, we, we just take inaction and we wait and see and oftentimes wait and see is not the best thing for the client. So we're not really serving them by allowing their source of information to come from news outlets who overemphasize negativity.
So what most people do when they see threats like this, Is if you've ever done a [00:05:00] SWAT analysis, you do your strengths, your weaknesses, your opportunities and threats, and then what the business professionals teach about the threats is things you should be aware of, but not take any action.
Okay, so what I do is I look at the threats and with one, one of my master coaches, his name is Cleve Gaddis. He has a different, very different way of looking at the world. He looks at threats and says, okay, in my real estate practice, how can I use threats to message differently to the consumer to move them from stuck to engaged?
And so we've created this threat based marketing concept, and we built a program called Shift that uses emotional intelligence to do that. We're using it all over the country with our coaching clients, and they're having phenomenal success. Have you ever seen this before? This is called the Emotions Wheel.
And so when you have a client that's feeling fear or anger or sadness, then you look at the outside of the wheel that's scared, terrified, insecure, or anxious, worried, mortified. Those are all fear-based emotions. If you're looking at the orange on the right hand side, our goal in [00:06:00] messaging when we use emotional intelligence is to use words and phrases and information that take 'em out of the fear state and move them into either
happiness or surprise or love. We wanna move 'em from a fear-based state into a positive, emotional, emotional connection. And when they have a positive connection, then they will be optimistic and hopeful and excited instead of anxious, worried and dreadful. Does that make sense? And so, When we're talking about threat based marketing and overcoming objections and moving, moving people from where they are in a, in a stuck and frustrated mode to moving forward.
It's not, this is not slick dialogue. This is emotional intelligence that we have learned from some of the brightest people in the world who specialize in emotional intelligence and applying tools and resources to create systems that move people forward. And so
let me give you the first shift module, and so here's how threat, here's how Shift works [00:07:00] is the goal is to reengage buyers and sellers, getting 'em off the sidelines, back into buying or selling. The second goal is to resurrect dead leads. How many of you have dead leads in your CINC platform where they engaged with it for a while and now they haven't done anything for a long time and you need to get 'em reengaged. So we wanna reengage dead leads. If you don't have CINC, we're gonna talk about that because it's a phenomenal platform. And then the last part is to gain market share.
What the elite, the, the difference between average and exceptional is in a market that gets hard, the average people look for jobs. And they blame everything on their failure to succeed. The exceptional look for opportunities to take market share. And so when you understand how that, when you understand people are gonna continue to move, whether the rates go up or not, and that you, this is a massive opportunity to take market share and you lean into the business differently, you have an opportunity to grow.
I, I would like to know from you all, I mean, where are [00:08:00] you? Are you like, I want to take market share and grow? Or are you sitting on the sidelines hoping it passes? Like what are you really feeling? And if you don't mind just using the chat and kind of telling me what your emotions are there. Like tell me what you are feeling as an agent.
Taylor says, let's take over market share and totally dominate. If you're not growing, you're dying. I agree with that. Optimistic and grow. Awesome. You wanna take market share Totally dominate, like legally. Grow to the moon. I love Austin. Let's take over growth. Nobody says that they wanna sit on the sidelines. Hey, that's probably why you're here is you're not here to learn how to be average, right? Like no one, no one jumped on this call with me to learn how to be average, learn how to be great. I was just on a call. I finished a coaching call like literally one minute before joining this call with a client who last year did 6.5 million in gross closed income.
And what we're focused on in her business is how to grow that this year in her marketplace, the MLS sales are down 40% and she's down 20%. And we have to figure out how to take it to [00:09:00] have growth instead of, instead of have loss. And so it's good that we're, we're not going as bad as the market, but it's not good that we're not growing.
And so our focus is, you know, what are we gonna do? And we've got a very specific strategic plan for that. Good first world problems to have. But when we look at financials and where people are spending their money, there's very few things that give you the right return. So I'm go back to my share screen for just a second.
All right. So the way Shift works is we, the first thing we do is we give you a story. So we give you a scenario, we call it the threat system, an interest rate offset, whatever. And then we give you a story of an agent or a client who is going through a program, and I want you to pay attention to the emotional intelligence phrases that we use in there and how they're feeling stuck, confused, frustrated, and then we talk about how the solution happened.
And when you get a threat based system like this, and I'm gonna give you all some of these I want you to read 'em out loud with your teams, read 'em out loud, practice 'em, say 'em over and over. And then we're gonna give you a tool or resource that addresses that threat. And then we're gonna give you a script on how to use it with your client.
So I'm not just gonna tell you, [00:10:00] here's some theories. I'm gonna give you the actual resources that you can use in your business. I'll give you a page. You can download some of this stuff later, okay? All you have to do is pay attention and say, please, and I'll give it to you. So let's first talk about the first threat.
The first threat that we'll talk about is the river of real estate. So the river of real estate the story is about a young man who has a client that doesn't wanna move forward because they think everybody stopped buying and selling houses, and so they don't wanna put their house on the market because nobody's buying and selling right now because everybody's pausing.
And so we use the story of the river of real estate to talk about why people move. There's a Harvard study that goes along with it. We talk about the number of the population that moves every year, and by the way, people move because they get married, they have children. All their children move out.
They get relocated. They go through this whole process, and when they go through this process that causes them to move, it's the life events that occur that cause people to move. People don't move because of rising interest rates or lower lowering interest rates. It's life events. And so here's the river of real [00:11:00] estate.
The first thing we'll give you is the problem, the real solution, the, the, the way to script it out, and then the assignments to go move forward with the river of real estate. I'm gonna teach you how to communicate this. So when somebody uses the objection, well, the market's not hot anymore. We're not getting multiple offers.
I'm gonna wait till the market changes to move. What you're saying is that, you know, even in the worst, even in the worst economy, The market only dropped like 14% in 2008. And so 85% of the people that have life events that occur are still gonna move. And you're by not having your house on the market, you're not gonna be one of the choices they make.
They're gonna move whether your house is on the market or not. You wanna be one of their choices. And so we give you this whole process and they get, they get feeling like they're more excited about that. This is more about understanding that people are gonna continue to move.
When you read, when you read through this, and I missed a couple of slides on this, there's a Harvard study, there's a number of people, and then we actually give you a calculator to calculate the number of people that are gonna move in your marketplace based on your population. [00:12:00] And then you can give them a real number that says, Hey, Based on our calculation, there's gonna be, you know, 1.7 million people or 230,000 people in our marketplace over the next 12 months, that move.
And so once you understand that, and you know you're only selling 17 houses, you know how much market share there is to go get. And that's how you understand the marketplace. So the first one is a river of real estate, and I wanna make sure that you understand how that works in there, that's available to you.
So this is the next threat. Interest rates is huge. The Fed funds going up, the markets are going up, everybody's talking about that. Fed raises rates another quarter percent. Like you see this on the news constantly and all the time. So the threat is the increased interest rates makes house payments unaffordable.
So the consumer believes I can't buy a house. I'm so frustrated. Everything I was looking at a year ago, I can't qualify for today. Ha, anybody heard that? Oh yeah, I was gonna buy $350k, now I can only get $220k. You know, it's like they have all these things that they can't go moving forward, and so we created a system called the interest rate offset system and in the interest rate [00:13:00] offset system.
I'm gonna show you how we calculate that. But the goal is, is, so one of the things, when, when I give you these, these words or carefully crafted messaging, I want you to listen to the proprietary language that I use. So if I was talking to Brian, I would, and Brian says, you know, I, I just can't buy a house.
Like, I, you know, I, I can't buy the same kind of house. I'd say I totally understand that. A lot of people feel like they're stuck and they can't move forward, cause rates have gone up and they're waiting for rates to go down, but, But housing prices continue to go up. So by waiting you're not gonna be able to buy more.
Exactly. Over time, you're gonna end up buying less. And so I'm not saying I could do this, Brian, but if I could offset the damage you're paying over the next seven years in a mortgage moving forward and have it not cost you any more than if you would've bought a year ago, would you consider continuing to look for a property?
And Brian's gonna nod and say, absolutely. So we have this dialogue that moves him from, I'm stuck to now, I'm considering moving forward, and then I'm gonna show you how we actually do it. So there's the interest rate offset system. The [00:14:00] first thing we do is we give you a story, then we give you a a script for it, and then we give you a calculator and here's how the calculator works.
So you put in the purchase price of what they were looking for. In the beginning, we put in their down payment, 10% or whatever, and then we put the loan amount in, and then we put the term, and then we put the prior interest rate. So with, when they were looking at the market, it was 3.75. Today it's at 5.25 or 6.25, whatever it is.
The difference in the monthly payment is, $441. That make sense? See that at the bottom? So you fill in all the yellow highlighted areas and it calculates the difference. My job, Brian, as your realtor, is to offset as much of that as possible. So over the next seven years, it's gonna cost you $37,043. Now, I can't predict the future, but I know historically that over the next three to five years rates are gonna drop significantly.
And I believe that Rates. Rates are gonna drop. And prices are gonna go up, and there's gonna be an offset of those two things. And so my job as your realtor is [00:15:00] over the next five to seven years, I want to have enough offset in the way we negotiate the price, get seller concessions, interest rate buy downs.
There's all kinds of things we can do to offset that. I'm not trying to offset the difference for 30 years. I'm trying to offset it five to seven cause every five to seven years people move or we'll be able to refinance it and that's $37,000. If I could save you the $37,000 in concessions or as much of that as possible, is there any reason you wouldn't continue looking at property?
So I'm gonna give 'em the calculator. I'm gonna give it a proprietary name when something says I can't move forward. Oh, you probably haven't heard of our interest rate offset system. What do you mean interest rate? Oh, it's so cool. When can we meet? And then you sit down with 'em, go through the math, and then you show 'em what your goal is to offset.
Now, how many of you saved your clients $20,000 - $25,000 In interest rate buy downs, seller concessions, builder concessions, like different things in order to get the deal done right now. Two years ago we couldn't do it cause the houses are selling so fast today we're actually seeing incentives happening to get deals sold.
And so that, that's how we [00:16:00] do it. So when we're done with that, then I give you the module. It was so cool. So I took Reanne Rudd, who's one of our team leaders, and she had people that were just hesitant moving from, you know, transitioning from renting to buying. We have all these renters right now, rents have gone up so much, it's cheaper to buy.
And she looked at different ways to offset that. And so she went out there and she started presenting it to people that were renting, and they found a house offer $20,000 under the asking price. They didn't get $20, but they got $17. And so what happened is, is she got the buyer off the sidelines to start looking.
When they start looking, what happens is they get emotionally connected to the property. And then all bets are off. Now we're gonna do the best that we can at the end of the day with the offset and with the other seller concessions, she offset $27,000 and it was specifically related to the interest rate offset system.
So if I give you the system, how you gonna apply it?
So One of my top agents, I asked them why they share everything. Why do you give everything to people? And they said, cause people will copy everything but [00:17:00] my hard work. So let's start with this. What if we actually do anything with it? How about we start roleplaying with our teams?
How about we start communicating with everybody who's a B buyer, a C buyer that's not engaged, and, and just say, Hey, I'd like to do a webinar on the interest rate offset and show you how you continue to move forward. Or how about we do a face-to-face or what if you had at every open house where you got people looking through open houses and you have a handout that says, this is my interest rate offset program.
Have you heard of that? You gotta say things differently and use that proprietary language
communicating and setting proper expectations.
Bring them to builders who are offering high incentives.
Okay. Brilliant. So David says, okay, so I'm gonna look for builders that are already doing the incentives. When I look through what the client's situation is, how much I need to offset, you can say, I actually have six or seven properties that are on the market right now that I know that they have those offsetting incentives.
Why don't we go look at those properties? I love that, David. That's a great way of doing. I'm gonna give you some other things you can do too. Getting people off the fence. Okay. So, love the comments, and I hope you don't mind me asking what you're gonna do with it, because action is [00:18:00] what determines your value in the marketplace, not knowledge.
Matt Hart: Is there, is there a good way to bridge the gap between what people are seeing on the news, the negative news that they're seeing, and then, and then earning the right to be able to have this conversation? Right. So not, not just being able to show them, but like earning the right to have that conversation when people are stuck in the echo chamber of the news that they're hearing every day.
Verl Workman: Yeah. Great question. You have to speak louder and become the trusted advisor. It's, they're going to CNN an for news or Fox News, but you're not saying anything. We're popping by with a Jar of Jam and hoping they use us cause we gave 'em some jam. And we gotta stop being average in the marketplace and start being experts like, like the messaging that you give to people when you stop by.
And I'm a big fan of having a referral-based business. But stop by with something of value and put 'em in their hands cuz everybody knows someone who's stuck and frustrated. When you do your social media posts, when you do your your videos, when you do your blog posts, when you send out your geographic marketing [00:19:00] cards, when you have anything that's happening in marketing, start talking about the interest rate offset.
Create a free download, give it away, give the calculator away, figure out your own thing and give an information exchange. There's so many things you do with it. So Matt, you just have to speak often and you have to be at the front of the mind by communicating with it. I would go through, what I would love to do is I would, I think everybody open up their CINC and they should start with the As.
And make a call to every single person. If you don't get 'em on the phone, click text and say, if you haven't heard about our interest rate off offset, we've got client saving up to. And then put a number in it and then say, gimme a call if you wanna learn how, boom. And let's see if we can start doing things in the platform.
That'll, that'll, that'll re-engage our clients. The goal is to get them off the fence and move them from feeling stuck and frustrated to optimistic and excited.
Matt Hart: Love that. Yeah. We actually just had a client testimony. We saw they had reached out seven times to somebody over five days. And, and that person finally reengaged and, and where most agents would've just given up after a couple of [00:20:00] attempts.
, that, you know, constant reach out was actually seen as a, as they were grateful, they said, thank you for being persistent. Following up. I've just been working late and it's been difficult for me to get back to my. My personal communication. So yeah, I think you're absolutely right on that.
Verl Workman: I love that, Matt, you know, following up is not like you're not bugging people.
If you show up with value in your hands, you're only bugging them if you're trying to get them to buy or sell when they don't want it, or you're trying to talk 'em into using you. I want you to serve regardless of opportunity, and I want you to follow up with people until they buy or tell you to die.
Like Afi, I want you to follow up until they file a restraining order. Like we follow up. You know why people don't use us? Cause they don't know us. You have to do it better than anybody else and you have to be more frequent about it. Average is easy, but but, but greatness is predictable. I can look in your CINC, and I can tell you whether or not you're gonna get a great result based on the touches you're having.
And I can also tell you whether you're gonna get an average result. Greatness is predictable. So is average.
You guys want another module? [00:21:00] All right, here's another one. We call this one the New Construction Advantage. So what happened is when during Covid, all the builders ran a shortage on lumber, wiring, appliances roofing materials, and so everybody.
Over ordered and they stocked their warehouses. And these big nationally traded companies, these big national builders that are publicly traded now have all this inventory they've overpaid for and they've got stuck and their houses are sitting and they have all this pressure from their board of directors and from their CEOs to move forward.
And so we have a program called The New Construction Advantage, and it's, we can't afford a new construction now because everybody bought at such a high price. We take 'em through this whole story. We go through the eight tips for negotiating with builders, and we give that to you as here's the eight things to do when you go in to negotiate with a builder, and then when you are doing your prospecting in your marketing, I give you the 18 reasons you need by a representation when working with a builder.
And so would that be something you could easily market out to your CINC database and say, Hey, I've got, if you [00:22:00] want a free copy of my 18 reasons why you need a buyer, we're looking for new construction, how we save you money. And so we've got this whole program for that and how to get that. And so when you read the story, we give you the tips.
We give you the why you need representation, and then we go do it. Now, here's what's cool about this. I have two employees that were both buying new construction. Jon Miller's, one of 'em. He's a, he's a new homeowner. He helped us build the program and then he went out, worked with one of our agents they were long-term renters, 13 years, and they were afraid of buying a house, and they watched from the sidelines.
Their, their dream of home ownership go away cause rates were at 2%, then 3% and then 6% and they're like, I'm out. And then we shared with them as we were developing the new construction advantage, we calculated everything back. It was really cool to see them go this emotional transformation from stuck and frustrated to go another five years renting after 13 to we just closed on our new house and they're now in their new home.
And it was 100% because of the new construction advantage. And they got a brand new home in the same neighborhood as Austin, who's my operations [00:23:00] manager. Austin was interesting because when we were helping him buy a house, we got him under contract. He was already under contract, and then the builder started putting houses up and offering incentives that he didn't get on his property.
So we literally went back and taught him how to renegotiate over that. He utilized the eight tips of negotiating with builders saved $30,000 up front before he closed, and over $200,000 over the lifetime of his, of his loan. Okay. So what just happened right here? What'd I just do?
I'm teaching you how to sell a system. Stories sell. People relate to other people who have gone through the same frustrations as them that move their emotion from stuck to excited and then closed.
And you have, you talked to Jon about how excited he is about he was able to buy a home with his now two kids and his wife having another one. I'm thinking about this and I'm thinking, okay, so we have a little young family that didn't think they'd ever be able to realize the dream of home ownership that's now moved into a home in a marketplace where [00:24:00] everybody else is holding back.
You know, of anybody who might be holding back that shouldn't be because they don't, aren't given the right information? And if you answer yes to that, so do all of your relationships. And so now you could do a shift module every month if you wanted to. And so as you're messaging to all of these all of these individuals, what happens is, you start telling stories and you celebrate their people's successes. People go, oh, that's me. I want that. And that's when they raise their hand. So stories sell. So what I'm teaching you is use the threat, use the emotional connection piece. Find and tell a story. If you don't have one, borrow mine.
Cause I don't tell 'em unless they're true. Borrow my story. Share it with your database market to it till you can create your own. So we borrow each other's brand equity until we have our own.
All right, here's my next one. This is also a fun one.
This is actually a real protest on stop raising our rents. You know what happened is during Covid, because of this housing shortage and the [00:25:00] lack of inventory for rentals, what did all the property managers do? Boom. They all raised prices on rent. So now these people that we're renting have all these increased houses.
As soon as their lease is up, they're paying more. My sister-in-law went from $1600 a month to $2,400 a month to stay in the same place. You know why? Because the market would bear it. And , the manager didn't care. So we have all this, we have all this crazy news going out there. The cost of listings are going up, prices are going up.
Rates are going up, people are renting and they just wonder if they, you should just stop. I don't know if you know this, we just did some research. Do you know that Miami's gonna grow 30% Tampa, 28% Phoenix, 25%? Like that's the cost of rising rents in those marketplaces. Like that's a huge. So if you're paying a thousand, it's $1300.
If you're paying $2000, it's $2,600. It's the, the, the price of renting in these major metropolitan areas is big. In most areas, that's the case. So how do we deal with that? So what is the, [00:26:00] what's the emotion that happens with rising rent? Fear of not being able to afford to make your rent payments, feeling that you'll never be able to move into a home.
Like, there's so many things there. There was a recent study on that talked about how millennials didn't wanna buy houses. They all wanted to be in urban properties and go see the world live in tiny houses. It's a bunch of crap. People want homes, like they just want homes. And so if you listen to all the news, I mean, Walmart's selling tiny houses now.
So that's happening in the marketplace. So how do we deal with it? So we created the shift module to buy or not to buy system. We do a whole story where we talk about the agent who had clients who were deciding whether they should rent versus buy, and there's all of these calculations that you put into place and we created it. We created this phenomenal calculator that puts all of the stuff in there, and then we, we help them decide, and then we have a script of coaching to it of actually what you say when you're calling people who are currently ready.
And there are so many of them. And so then we call 'em and we [00:27:00] go through and we get 'em off the fence and get 'em moving forward. I'm gonna check that right there. So Mahala is one of our coaching clients and also somebody who coaches, they do you know, 300 plus transactions a year. And she said we had an agent that was using the rent versus buy shift module to get somebody in contract that would've waited until their lease was over.
But the shift is they're motivating their agents to provide solutions and getting on calling in January. Last year they wrote 26 contracts in January. This year they wrote 32 using shift. Like I love that. How many of you wish you could do 32 a year, let alone 32 a month? Right? That's a, that's like, this is someone who is a, they prospect.
They have daily huddles. They work together as a team and they've got big And last year they did 26 appointments. Oh, sorry. This year they met 20, 86 appointments in January. It's the same number as 22. But the impact was it, it would've been more impact. It was 600 less conversations. So they set more appointments with fewer [00:28:00] conversations cause they had better dialogue.
Does that make sense? There's so many. There's not a lot of time that she says that I celebrate, but when it comes to closing on the phone, I contribute that skill to the power of the program. And so like they're celebrating their wins because of the power of the program. I'm gonna go off share and see if I got a tool.
We're gonna talk through this, and then I wanna make sure that we have some time to ask, do some q and a.
Okay, so here's the buy or not to buy system. The yellow fields are edited, so we put in the marginal tax rate. What rates your client in? The estimated appreciation of what's going on in your market? We put in the home price purchase $400,000, 10% down, whatever their down is, and then it, it automatically estimates closing costs.
We put in the monthly rent to $2,800. And then we say, okay, so your annual rent is $33k renter's insurance. Total annual cost of renting is $33,815. The monthly cost of $2800. Now down here we put in what are rates today six and a half percent. This is not the old like really basic rent versus own calculator.
[00:29:00] This is like, how do we get to a real to see what the offset is? And so you fill in all of the yellow things and it calculates and gives you the bottom line that it costs you $16,500 more a year to continue renting instead of buying. And then I can change the interest rate and say, let's go to 7% and see what it is.
And what if we got a two, one buy down and we bought the interest rate down? I can change that and then come back here and show what it is. The annual cost of buying a house is $24,000. This is so, so cool for the summary with a standard deduction that shows you the offset and the calculator is so powerful.
Like we go through like a hundred different iterations of this before we get it to the point where it actually makes sense. And so think about from a marketing perspective. How you would use this? I would do, I would, I can think of like Facebook and Instagram and TikTok posts. Yeah, I know what TikTok is. Talking about, i s renting your smartest option. Clients save thousands buying instead of [00:30:00] renting get free rent versus own calculator. Click here. And each one of those downloads or things that they do creates an information exchange. Where they do what I call as a double opt-in. So they've already opted into home search.
Now you gotta give 'em something more in your communication with the client to get them engaged and off the fence. Matt, are you getting excited about this as I'm sharing it?
Matt Hart: Very much
Verl Workman: I just wanna make sure you and I are on the same set level of excitement.
Matt Hart: Absolutely.
Verl Workman: All right. I got a couple other things I'm gonna share with you here.
Matt Hart: And I, and I do love this Verl, like for the, for the six years that I've been in this industry, in this job, like what, what I have seen sets apart, the elite agents, teams and, and brokerages is systems and processes, right? So they're prepared. For those conversations, right? It's not, they're not the ones who are just looking for, where's my next deal gonna come from, right?
It's preparing to be successful in the future that sets people apart, right?
Verl Workman: A hundred percent. I'm gonna give you the river of real estate interest rate offset new construction advantage [00:31:00] to buy or not to buy. Right. We, we produce about two of these a month and I've got a library of these and we use 'em for our coaching clients.
And so we give our coaching clients kind of an unfair advantage in the marketplace as we're helping to move forward. I'm gonna give you four modules, you guys, just for being here. You can have 'em and I want you to use 'em like just, these are like my four favorites. So like, I'm not giving you the, like, you think These are good.
The next ones are good too. These are phenomenal. So grab your phones and get the QR code off my screen and make sure you download it. Look We practice what we preach. I'm gonna tell you a story. I'm gonna give you something of value with no strings attached. You're gonna go into a follow up system.
Somebody from my team's gonna call you and say, are you performing at the level you wish you could or would you like to go to another level? If you'd like to go to another level, set up a coaching consult and talk to us and we'll go through and see if we're a good fit. And if we are great, let's work with each other.
If not, that's okay too. We're gonna give you a value in the conversation. Everybody cool with that? Like you don't wanna learn how to sell from someone who doesn't know how to sell. [00:32:00] Okay. And so like the systems and processes that we're teaching, we practice. So a couple other things. Okay. So my new keynote this year is called predictable Greatness.
Greatness is predictable and I've, in every business I've ever been in, everything I've ever done we focused on how to create predictable greatness. What are the things you could do consistently to get a predictable outcome? And there are so many things that we can do with that. So I'm gonna give you a few things that I'll call it my top eight.
And these are things that I focus on. If I were coaching you right now to be the leader of a team, these are the things that I would focus on. First of all, I want you to understand that accountability is not something I can do to you, but it's a choice that you make. Accountability is the most important choice you'll ever make.
Accountability is like, like we think that when someone doesn't do what they're supposed to do, accountability is beating 'em up until they do it. My job as a coach is to understand what drives you and make sure that you're reminded of the things that are most important to you. So you do the [00:33:00] hard things and you choose accountability.
It's not something I do to you. And so think of yourself as you're growing a team. Number one is, are you the kind of leader that you would follow? Do you set the example for your team on how to do this business right? Or do you just go tell 'em to do it? I think that as real estate agents, we start teams and no one's really teaching leadership development and we have to learn how to be leaders.
And so we're really focused at workman on developing leaders. The second thing is you gotta bring the goods. You gotta message to the threats. You gotta empower your clients to keep 'em engaged. You gotta remember that. If I give you a toolbox, I've give you, I, I'm gonna give you like four shift modules.
I'm giving you this, this what do you call it? I'm giving you these shift modules, but if you don't do the activities to share 'em with your clients, how good are they? That's right. Afi's like nada. The next thing is to know your numbers. Here's some numbers I want you to know. Every listing you generate should close.
1.5 BYSIDE transactions. Every listing you get, you should close [00:34:00] six. You should generate six to eight leads a month. Every 25 leads we generate, we add a buyer's agents. When we build teams, it's based on data and numbers, and we do things systematically, and that's why our teams grow and that's why they dominate in the marketplace.
You've gotta know your numbers. The next thing is we're we're all creatures of habit. Matt, you and I are creatures of habit. We get up every day. We have a routine. It's probably very similar, you know, we go to the gym, we pump iron. No, I'm just kidding. That's yours, not mine. I get up and I have breakfast.
I go swim laps in the pool. I'll sit down and visit with my kids about their day and I get my mind ready for the day. We have we're creatures of habits. Are your habits consistent with your goals? Meaning, are you focused on the things that are gonna move the needle for you financially or are they not?
And if you're not, what I, what we have is, we have a thing called the Daily Success Habits tracker, where we have you track what you do in six, in 30 minute increments. Plus we do 61 points a day doing dollar productive activities. And what happens is we start to gain clarity on where the gaps are, and then we coach to the gaps.
It's just a [00:35:00] fascinating concept. The next is you gotta every, every team, every office, every brokerage, every family. As a culture and you get to intentionally or accidentally create that culture. Intentionally, I would say that the higher performers create a culture of production, meaning we come in every day, we have a daily huddle, we role play scripts and dialogues around shift.
We get on the phones and we prospect for new business, and then we get into our CINC and we do lead follow up. And so that culture of productivity has a rhythm up to it of success. We lead by example. I like to say anything you do three times, you know, my gosh, get a system for it and hire a tactical coach.
This is not the time in business where you need somebody to help you with your mindset. Rick, if you're broke and you're seeing your revenue go down and you're working more hours, you don't need somebody to tell you to feel better. You need someone to tell you what to do. And so you need a tactical coach that says, look, here's what's going on in the market.
This is what you gotta do. Here's how we're gonna get there. Now go do it and show me you did it. And when you have someone who's tactical like [00:36:00] that, you'll get to success faster. And so I don't, I don't mean to I think there's a place for making sure your head's in the right space. But where we are right now is we've gotta get tactical.
And the agents that are tactical are growing and the ones who are not have, are really motivated, but they're not making any money. I'd rather have you not be. So so a few Verlisms as we, we lead with revenue and I wanna share with you a couple cool things about CINC here in just one second. So, Matt, I haven't forgot.
We lead with revenue. We're gonna focus on your net income, not your gross income. The R O T. Afi I want you to think about this. Return on investment means when you buy CINC and they do a guarantee that says, if you're not gonna get X, then we're gonna give you your platform for another longer period of time.
They give you a guarantee that's called Return on investment. If you don't understand ROT, you'll never get ROI and that means return on time. So if you spend an hour doing something, what's the highest amount of money you make on that hour? And you'll make more money in [00:37:00] ROI on CINC if you invest the ROT time doing the right activities.
Make sense? And so we focus on return on time, like can I, let me just punch y'all in the gut cause I love that just the concept of it. Anything you do in your business that you could outsource or delegate for $25 an hour or less, you shouldn't be doing it. And if you do do it, what you're saying to your family is they're not worth $25 an hour to you cause you're choosing to do the task instead of delegating it.
And that's why teams are dominating in the marketplace because people realize the way you create leverage is by having additional, additional people.
So here's why CINC is such a good partner with Workman. So we focus on teams and in teams we've learned that lead generation is not the problem. It's the perception of the problem. Everybody thinks they need more leads.
We know that when you have the right platform and you follow predictable greatness systems, we get a predictable result. We can generate leads with our [00:38:00] CINC platform at any level of business. If you put the time in and you reinvest small portions of your return back into lead gen and, and, and, and CINC's taking it to a whole different platform with their guarantee program.
So Matt would just kind of describe to us your new program.
Matt Hart: Yeah, absolutely. Thanks Verl. So, so the bottom line is this, these are unpredictable times, right? We, we know that there's a lot of fear in the market and there's a lot of fear and trepidation amongst real estate agents and teams as well, right?
And is the money and time I'm investing in, in solutions going to yield me any kind of return, right? That's the big fear that's out there. And that's whether you're spending a hundred dollars a month on a solution. Or a thousand dollars a month on a solution. And so what we're trying to do here at CINC is create a risk-free environment for, for agents to know that when they invest money, they're gonna see a return on it.
We're gonna guarantee that return. And if we can't make them successful by adhering to those, those best practices and standards, right? So, We [00:39:00] not only guarantee the success, we're not so, we're not only so confident in our ability to help make you successful. We're willing to put our money where our mouth is, and we show you the roadmap for how to do it.
We've analyzed over 5 million leads, over 2000 clients over the past 10 years, and we know exactly what effort it takes, what activity it takes in our system with a huge number of data points to show us what leads to an online. Conversion of a lead to a transaction for real estate, right? And so we map that out for you and then we help you along the way by showing you what it takes.
And if you adhere to those, those standards, right? And, and the activity necessary to be successful, we will guarantee your success on the platform. And if we don't, we'll cover the cost of your platform up to the next 12 months. So you have 12 months. Right. And, and we guarantee you're gonna see a return by way of offering.
You're guaranteeing you two transactions minimum, right? We expect two to four in the first year. That's to just [00:40:00] give you that backstop to know, I know my, my money is not going into a black hole. By the end of year two, we expect you to see six figure returns on CINC. Right? And these are based on real numbers from average agents, right?
We took our very top. Performing, you know, 3%, 5% converters out of that, that math, because we want everybody to know this is attainable and achievable for ANYONE who comes in and puts in the necessary work. So if you'd like to hear more about that, we're gonna drop a link in here as well. So you can sign up to have a product expert walk you through exactly what that entails.
And and how to get signed up for that. But thanks, Verl and, and it is to Verl's point, right? This is why this is such a symbiotic relationship between Workman Success and CINC, right? Because the systems that Verl has put together are exactly the activity, right? It lines up perfectly with what we know it takes to convert a lead from initial interest all the way through to a transaction.
So thanks again, [00:41:00] Verl. Appreciate it.
Verl Workman: You bet. So let's take a minute and I've got, I've got a closing slide to get y'all excited, but I wanna let's take a minute and just answer some questions. Heidi, do you want us to know how much she should be planning on spending to get a six figure income with sync?
Like what kind of a monthly spend in ad spend? What? It depends on what market she's in, what her average sales price is, but let's just pretend her average commission's 10,000, so she gotta do 10 transactions in a year.
Matt Hart: So in, in year one, you're gonna spend about $15,000.
Verl Workman: I mean, it's, it's two deals. In year two, will it go up or will it, you have all your year one leads haven't converted, and then you keep going if you're already
Matt Hart: it grows exponentially over time. Right? And then the more money you invest in your marketing, you get exponential returns on every incremental dollar you spend because you've got the cost of the platform associated.
So every dollar you spend over and above, and by the way, As part of this program, and I'm, I'm, I know I'm giving away a little bit too much on it. We also invest back into your [00:42:00] business $500 a month for the first year. So we pay for your advertising for year one up to $500 a month. So that's $6,000 in free leads.
In year two, that's on you. But by the end of year one, you're gonna want to buy as many leads as you can. As you can. You can possibly work, because again, you'll be seeing exponential returns from it.
Verl Workman: So marketing spend 500 to whatever. So let me tell you how we do it in coaching. So if I were coaching you and you're a CINC user, what we do is we look at everything you're spending money on, and my number is 6x
and so if you are, if you're spending $500 a month, I expect. $3,000 a month in return. If you're not getting that, the first question I ask is why? There are no bad leads, only people who aren't ready yet. And so I want to go look at all of the things you're saying, all of the touchpoints you're having. Are we using text messaging?
Are we using social? Are we doing all of the things necessary to keep it the front of the mind of the client? So the first thing I'm gonna do is figure out why we're not converting. And then once we figure out and we get our [00:43:00] conversions at 6x, then we can double it. So then we double our spend and we double our sales.
We double it again, and we double it again. We've had clients go from having spends of, you know, $250 a month to $10,000 a month and can you continue to get 6x the problem is, is we generate more leads than we can handle. So I want you to think about this cause this is a bigger problem. When as a, as a leader, you buy CINC and you generate more than 25 leads a month.
You don't have the bandwidth to follow up with them and go out and show houses and go out and list houses and do your, and do your client transactions. And so what happens is you have the good intention of following up, but you don't have the time to do it. That's why we bring in a buyer's agent to every 25 leads we generate.
Because I want to get you out of working with buyers and focused on business development and people development. And then we once, once you give a buyer's agent 25 deals a month and they're working their top fifties and they're doing their daily success habits and they're each doing two deals a month, you start realizing how many resources there are for you to reinvest in other things in your [00:44:00] business.
So there's a formula to conversion, there's a formula to ROI and that's why we do it. And Nadine, we get a lot of fake leads as well, and that's all part of the conversion process. You know what I say when I get a fake lead, you guys, I'm gonna give you the dialogue for this. This is emotional intelligence.
You ready for it? Everybody write this down. Bad leads come in. Fake leads. Oh, how about the people that say never call you? Call me again. You psycho. I don't know how you got your my number, even though they put it in your platform. Like you get those. Here's the dialogue. You ready? "Next?" Like they don't know you, Darren.
They could, there's no way they could be rejecting you. Look at this guy. He's a great guy. They're rejecting the concept of you and you haven't earned the right to have a conversation with them. So let's give 'em something of value and it's just a bad deal. You delete it and go to the next one. Stop being so dramatic about it.
Just say "next" and just, it's a numbers game. I wanna know how many dials I have to have to have a conversation, how many conversations it takes to get an appointment, how many appointments I need to get a buyer listing agreement signed. And then once I get that dialed in, I just duplicate the activities that give me the results [00:45:00] and everything else becomes secondary.
It's not secret and it's not like magical, but there's a process and a system to greatness if you want it to be predictable. How many of you believe right now you can tell me honestly that there's another level you could be performing at? Really? How many of you believe like there's another level? Is there anybody that would like to go there?
Like genuinely want to go there because if you really want to get there, then raise your hand and let's, let's talk because I can help you get there. There's no I'll, I'll tell you one thing I've really learned and that's this. The difference between really high performing agents and average agents rarely has to do with the quality of the individual.
It has more to do with the activities they focus on. I have really average people making five and 6 million and I have really smart, brilliant, exceptional people making less than a hundred thousand because they don't focus on the right activities cause they think they know more than anybody else. And so what I wanna do is I really want to help you.
Like John Naber presidents, US [00:46:00] Olympians. I was talking to him one day and he said, I asked him, I said, "John, who do you coach? Who do you work with?" John's got like four gold medals and three silvers. He's a. A freak. Just unbelievable. You know, you're more likely to win the lottery than you are to get an Olympic gold medal.
And to have four of 'em is just like crazy. And John said to me, I'll tell you who I coach, he says, have you ever seen a puppy like with little boy at a park and the kid's holding onto that puppy and he's pulling him through the park and the kid's like hanging on, trying to go. He says, I coach that puppy.
He says, if I have to put a a, a piece of hamburger in front of your nose, or I have to put a thing and pull you, or I have to nudge you along, he says, I don't need you. He says, I want you to be like, put me in Coach. Let's go where I, I'm hungry. Let's go. And that's kind of then my philosophy at Workman is who do we coach?
We coach that puppy. So if you're that puppy and you really want help, then reach out to one of my guys. Here's my closing slide, Matt. Is there anything else I'm looking for? Any other comments or questions anybody has? I think we've dealt with most of 'em. I love that so many people want to go to the next level.
By the way, in our daily success habits, we know that when you're prospecting, your [00:47:00] return on time is $7,000 an hour. So if you focus on the right things, are you doing $7,000 an hour activities? That's how we get to predictable greatness. Okay, I'm gonna give you my closing slide.
This is my, how I feel about life and everything in between right now is not the time to be scared. And on the sideline, now's the time to go for it. I believe that, and I genuinely believe that life is not a journey to the grave with the intention of arriving pretty and safely in a well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, loudly proclaiming Woo!
What a ride. Let's have a great ride the rest of this 2023 together, everybody, thanks for being here. What a great group. Love the engagement. We'll make sure you have a link to the download. Use your shift modules, give us feedback, and let's go. Matt, thanks for Thanks for having me. What a great, what a great group.
Matt Hart: Thank you so much, Verl what a great hour we've had. Really appreciate everybody's time. Hope everyone has a fantastic day. We'll see you next time.