** Ed Kulas is the instructor for our upcoming class on “Selling to Low Credit Score Prospects”, scheduled for July23rd, 2009. For more information you can visit www.FAARMembers.com. This is a Guest Blogger post on the same topic**
Are you Leaving Income on the Table?
As a Real Estate Agent, are you aware that you have left money on the table AND it is still there? Yes, I mean You. “Well” you say “if thats the case how do I get it because I sure could use it NOW.” Soooo… let’s look into the matter.
First, we need to have a basic understanding on how that ball of mush, the brain, works. The front part is our conscious. This works in our day to day functions and usually as directed by the subconscious. It doesn’t remember, just performs functions as directed. For example, when you first learned to drive a car, the conscious was alert to all the details and a fifteen minute trip felt like fifteen minutes or more. But now that same trip is a fleeting moment due to the subconscious controlling the driving functions and you are thinking on your upcoming sale.
“So what’s all this got to do about that money I don’t see on the table in front of me” you say. Be patient, we are getting there but next a basic lesson in business economics.
Fundamental Laws
There is a fundamental law that Event(E) + Response(R) = Output(O). In todays business environment, the event appears as a recession causing one to redirect their response to maintain their output. If there’s no change in response, income levels fall until there”s no more recession. Thus one generally regroups to sale practices that worked in the past and hope to limit the income plunge. But we are not in a cyclical recessionary event but rather a structural permanent changing event, So our new response has to be one of change and challenges.
But to do this, we need to reprogram our unconscious, so let’s return to our car driving example. Now you are no longer driving that Denali you are so familiar with but have had to change to a Civic. How do you think you will first feel when driving this different car? Cautious, anxious, fearful, frustrated, etc. All these are upsetting, negative emotions generated by the subconscious asking the conscious “What’s up Doc.” But through effort over time, the subconscious switches to positive feelings of familiarization, composure and takes control as your conscious returns to reflecting on other matters.
Knowledge is Power
“So all that’s interesting” you say “but show me the money!” Your subconscious has the answer but is storing it in a veil of resistance. It’s those low credit score prospects you have experienced in the past. How do I know that; Say aloud “Low Credit Score Prospect” and how do you feel. The subconscious flashes up “Warning – Pain Ahead – Avoid” and so you do.
But aren’t those low credit score prospects a pending sale and people you are familiar with? Are not the current housing and funding programs best suited for this group providing they improve their credit score? And are not those structural changes(E) going to be reflected in the financial markets with elevated credit score requirements to buy a house? I assure you there are easy, fast, and proven ways of credit score improvement that you are not aware of and should take the effort(R) to familiarize yourself with to increase your sales output(O). To this I say: “Wouldn’t NOW be the best time to seek out that knowledge?”
Ed Kulas is a Credit Score Specialist providing education to Realtors through an approved CE Course: Selling Low Credit Score Prospect and Sale Meetings. Email: edkulas@yahoo.com
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