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Billy M&M Study > All Module Grant Notes > Flashcards

All Module Grant Notes Flashcards

1
Q

How many Calls do you have to make each week?

A

250 Calls

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2
Q

What are the statistic #s to track your weekly progress?

A
  1. 250 Calls each week
  2. 25-50 Good Conversations
  3. 3-5 Proposals
  4. 1-2 Listings per week
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3
Q

What percent do owners say NO?

A

99.2 PERCENT OF THE TIME

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4
Q

Why are the numbers important?

A

It allows us to gage our work and our probability with success.

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5
Q

How many closings should you get in a year?

A

6-10 Closings

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6
Q

What are the 7 MENTAL MODELS of being an agent?

A
  1. How to Build and Use the Complete Ownership Records
  2. Why Private Parties Buy, Sell, Hold, Refi
  3. Current & Historical Market Trends
  4. Sales Skills
  5. Value of REP
  6. Advisory Skills
  7. Mechanics of the Deal Pitch
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7
Q

WHAT ARE THE FIVE Cs WE BRING?

A
  1. Commitment
  2. Coachability
  3. Consistency
  4. Capacity
  5. Communication
  6. Capability (not part of 5 but extra 1)
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8
Q

What are the 7 types of an agent you can be?

A
  1. The Wimp
  2. Victim
  3. Bozo
  4. Player
  5. Fool

BE BELOW vvv

  1. Champion
  2. Master
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9
Q

What are the 7 Levels of Alignment?

what tools do we have to learn around us

A
  1. AGENT
  2. Manager
  3. Mentor
  4. 3rd Party Advisors
  5. Peer Group
  6. Collaborative Office
  7. National Platform
    - The more layers you add, you get more knowledge and tools to use.
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10
Q

What are the YEAR 1 GOALS TO HIT?

A
  1. 400+ Names in database
  2. 100 1st Appointments
  3. 25 Listing Proposals
  4. 5 Exclusive Listings
  5. 5:1 Ratio to Proposals to Listings
  6. 3 Listings SOLD
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11
Q

What is SMART GOALS?

A

Specific

Measurable

Actionable

Relevant

Time Bound

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12
Q

What are the 4 Main Reasons People Sell

A

Time, Price, Motivation, and Equity.

2 aspects of motivation, Business, or Human .. Go away from something or go towards?

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13
Q

What are 5 D’s associated with Problems for Owners?

A

Death, Disease, Divorce, Dissolution or Partners, Debt

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14
Q

What is Our Job @ M&M

A

TO INFLUENCE PEOPLE

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15
Q

Why exclusive?

A

Agent is perceived as serious/committed seller

-Helps get best buyers, controls marketing, control the whole process.

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16
Q

Why M&M?

A
  1. Credibility, Reach, Brand
  2. Tools, Process, (MNET, National Platform)
  3. Out of state buyers are 35% of all transactions which allows for more money, higher competition
  4. Required internal collab/incentive to collab
  5. Mass Brokers
  6. Collab in Local Office
  7. Investment Sales Specialization
  8. MMCC
  9. Research
  10. More 1031s & Sales Transactions
    - Experience, the thousands and thousands of transactions our have gave us experience to handle every and any situation so we are able to translate that to our future business.
17
Q

3 Tiers of Clients?

A

Tier 1: Institutions

Tier 2: Professionals

Tier 3: Mom & Pops

18
Q

What are TWO great ways to convert to a 1st APT?

A
  1. That’s a GREAT reason for us to meet

2. I can HELP YOU with that

19
Q

3 Interest Generator Types?

A

Primary: Based on COR

Secondary: Based on local market, city/state

Tertiary: Based on Macro scale/Relationships

20
Q

What is RULE #1 with BDCs?

A

Nobody cares about you, ONLY THEM

21
Q

When is SPIN selling most effective?

A

During the 1st Appointment

22
Q

What are the 7 steps of 1st Appointments?

A
  1. Intro, build Rapport, Credibility, and Trust
  2. Uncover/Clarify/Develop Needs (through spin)
  3. Determine if Proposal is Warranted
  4. SELL Proposal as a Solution (to their needs)
  5. Collect Books & Records
  6. Trial Close (when appropriate) .. “can we list exclusively with me? APPROPRIATE WHEN CONVERSATION TRENDS TOWARDS SELLING”
  7. Set 2nd Apt with Date, Time, Location
23
Q

What does SPIN stand for? (spin selling)

A

Situation

Problem

Implication

Need-Payoff

24
Q

Explain the Steps of SPIN

A

Situation Questions: Uncover facts, usually through story telling, then we pull appropriately

Problem: Clarify the problem or information pulled from the story told

Implication: What if .. Then? Implied Need –> Explicit Need

Need/Payoff: What’s possible if … then we..? Everyone must go away from something but it has to be to something, BUILD THAT BRIDGE FOR THEM

25
Q

What are the 4 steps of Overcoming Objections?

A
  1. Clarify Objection
  2. Acknowledge Objection
  3. Isolate Objection
  4. Table or Overcome
    • Do you need it to get to the next step?
26
Q

What are the 5 Rules for Negotiations?

A
  1. NEVER give something without getting something in RETURN
  2. Ask for MORE than you expect
  3. [Bracket]
  4. The one who wins is the one who wants it least
  5. Don’t Dance

Billy M&M Study (12 decks)

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