I’m About To P*SS YOU Off but It’s Worth It
May 14th, 2008 | By cboatright | Category: Personal, Short SalesI’m going to share my heart with you today in a way that I never done before.
I am inspired by several things that I encounter on a daily basis. I’m sure you can relate with that too. We’ll today I was inspired to talk about something that I think is being left out of almost every short sale investor’s business that I meet. It’s something that I’m passionate about because it is all about serving each other better.
Have you ever really thought about what that means? …SERVING ANOTHER BETTER?
It’s about STRATEGIC ALLIANCES.
This is completely different than just working with someone for a short term fix of the challenge your’re facing. No… this goes much deeper. This is about building a RELATIONSHIP with someone for the purpose of growing together. This is about taking all your STRENGTHS and combining them with another business or individual so you have a powerhouse of SPECIFIC ABILITIES to take a short sale business to THE NEXT LEVEL.
For example. Let’s say you want to work with a Realtor to fill your lead funnel. Most of the time we lean towards the path of least resistance…right? That means you would probably find a newbie Realtor that is anxious to get any business started. You might offer to take them to lunch and tell them you will still pay their commission if they list your short sale houses. If they agreed…and why wouldn’t they? You would be excited knowing that you have the Realtor part of your business figured out.
You would be correct… but NOT FOR THE LONG TERM.
This would be a bandaid to get you over the hump.
Why do I say that?
Well… keep reading because I’m about to REALLY P*SS YOU OFF!
You spent the time to find a person that could serve your needs, but YOU were thinking about yourself FIRST… not them. Here is exactly what I mean by that.
You didn’t stop to think how THEY could benefit the MOST from the relationship FIRST. You had a very myopic viewpoint and were looking for YOUR best interest over theirs. Now I know that you either are getting RED IN THE FACE … or simply CUSSING UP A STORM at me… but hang with me and you’ll see where I’m going with this.
What if you were FOCUSED ON STRATEGIC ALLIANCE?
What is the difference from Strategic Alliance and Short Terms Fixes?
EVERYTHING!!
If you were focused on strategic alliance you would consider not just helping the Realtor, but the BROKER and their entire office. Let’s go back to our example and replay it with strategic alliance in mind this time.
Instead of offering to take the Realtor to lunch you might offer to buy the ENTIRE BROKER’S OFFICE lunch or maybe donuts for breakfast (healthy treats those Crispy Cremes ). This time you ask the Broker for the BEST time to have the MOST agents present for the meeting. You explain you are a Short Sale and PreForeclosure Specialist and you have some really great news to share with their office FOR FREE . It doesn’t cost ONE PENNY and just for their time you would like to buy the entire office lunch or breakfast.
Hmm…. Ok I’m a little slow so let’s look at some simple equations here.
Lunch + ONE Realtor = Short Term Fix
Lunch + Entire Broker Office = Strategic Alliance
Now you might spend $10 - 20 for the lunch with one Realtor compared to spending $20 - 30 for buying lunch for the entire office…. but IMAGINE THE DIFFERENCE IN IMPACT AND POTENTIAL FOR RELATIONSHIPS!!!
Let’s keep going…. Imagine having everyone at the office hovered around a big table with simple handouts you made at Kinkos READY to take notes. The first questions you ask are the MOST obvious .
1. How many people in the room HAVE experienced or ARE experiencing a situation where the homeowner owes more on their house than it’s worth?
ALMOST EVERYONE RAISES THIER HAND.
2. How many people would LOVE to get their commission from that sale, but are not really sure on how to make that happen?
ALMOST ALL HANDS GO UP AGAIN… a strange sense of management control comes over you as you continue explaining how working with YOU/YOUR COMPANY is like hitting the EASY BUTTON for short sales…. anyone interested in learning more?
HANDS RAISE ALL OVER THE ROOM!
The Broker isn’t as easily convinced so you agree to schedule ANOTHER MEETING with him personally to discuss how YOUR COMPANY CAN STRATEGICALLY ALIGN with HIS to benefit all the agents and make everyone more money which in turn, ultimately helps more distressed homeowners.
Now instead of ONE REALTOR working with you… you have like 10, 20 or MORE!
All because you had a STRATEGIC ALLIANCE MINDSET (what a great concept ) in the beginning at not a bandaided approach to how you could get more leads in your funnel.
So…. I challenge you to consider how you can SERVE OTHERS BETTER by forming strategic alliances with them. This ISN’T EASY so don’t think I’m saying that not…I’m NOT. It takes time to evaluate YOUR STRENGTHS and WEAKNESSES . Then you focus on YOUR STRENGTHS and pray about how others can help bridge the gap of your weaknesses. Don’t focus on your weakenesses . I have done that and I’m sure you have too. Doing that is a LONG WINDED ROAD that can rarely withstand the challenges of a FAST PACED, Web 2.0 business world today.
The businesses that can implement the FASTEST AND SMARTEST are the ones that build STRATEGIC ALLIANCES to help take them to the next level.
YOUR SHORT SALE BUSINESS can follow in that path too.
Perhaps you have some ideas cooking that you didn’t consider before reading this blog post for a STRATEGIC ALLIANCE for your company. I urge you watch this video that has now been viewed over 31 MILLION TIMES and spend some time thinking and praying about creating strategic alliances.
When a Community strength is focused upon amazing things can happen.
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In ShortSaleology I spent time building amazing strategic alliances with companies and partners that provide world class services to serve our community of members. It was priority to build the foundation FIRST and then invite others to join to make it better. Now our Team is nationally recognized and we are growing larger everyday from YOUR HELP AND STRATEGIC ALLIANCES .
You see, we are just seeing the tip of the iceberg. Sure…. discounting over 8 MILLION DOLLARS from short sale negotationing so far this year is certainly a phenomenal achievement, but it’s JUST THE BEGINNING we as a Community are capable.
The V*I*S*I*O*N (VPP "Short Sale Trifecta") with ShortSaleology is STRATEGIC ALLIANCES . It always has been and always will be. We are have opened the doors in a PUBLIC way that has NEVER been done before.
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DO YOU HAVE A STRATEGIC ALLIANCE MINDSET?
If you think you have some strenghth in the Loss Mitigation, Negotation, Short Sale/ Pre-Foreclosure arena and would love to apply to work with our Team. Please go to services@ShortSaleology.com and email us in 300 words or less WHY you think you would be a benefit to our company and how working together with you could serve our members better.
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I know this blog post was a bit eye-opening to some of you. I want to become more transparent and share my heart with you on how our strategic alliances and Team is focused on serving the masses and not just… "ONE REALTOR". The short sale continium system YOU help us create will allow us to serve you FASTER AND BETTER both individually and corporatately.
Remember… be a servant,
Cory Boatright
Loss Mitigation Specialist
www.ShortSaleology.com
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The most important decision you will make in the sale of your home is the Realtor you choose.Realtor should show you research on home and he had responsibility of giving the details.
Cory,
There are two kinds of people. Those who live life to see what they can contribute to it, and those who live to see what they can get from it. Your message here encourages the first and I commend you for it. Opening your heart will bring both challenges and blessings…..just keep doing it. Loved the video!!
Kellie
This is exactly what we should be doing. Getting out of the “me me me” self first attitude and think of everyone.
Great post Cory!
Cory,
You are absolutely right about this point. I have a question for you though. I live in Southern California, and I’ve already talked to several small to mid-size RE brokerages about doing exactly what you said above. The manager/owner of the companies all told me that because of the SS mess, they have someone from their own firms that is doing this. Most realtors down here are getting involved in SS because they won’t be able to survive without it. How can I help them get to strategically align with my company? Thanks again for your commitment to providing excellent service for us and others.
I think one of the key points here was about building relationships. One thing that was NOT brought up was the long-term nursing of the relationship.
Let’s say you DID go the route of meeting with an entire real estate office and they were very interested in working with you. Truth be told, about 1 week later they will have forgotten that you even existed. You need to nurse the relationship over time or else your one-shot attempt would be in vain.
People try to be cheap at this. They’ll go with “well I’ll put them on an email list and email them once a week”. While this is a good start, the REAL thing to do would be to create a monthly newsletter that you physically MAIL to each of your “strategic alliance partners”.
My understanding is that fewer than 1% of all business owners use real through-the-mail newsletters even though they are proven to be the largest single item for building relationships with customers and fostering repeat and referral business.
I wonder why that is.
Cory,
Great post, brother. Strategic alliances can be extremely powerful, and are best served with a “giver’s gain” mindset.
I love that video. I had seen it a while back but forgot about it until now. It’s still just as amazing, and an incredible visual demonstration of the incredible, unstoppable power of the single-minded “many” versus the “one”.
Shortsaleology is an exceptional resource any preforeclosure investor should seriously consider, and I look with interest in where you’re going next.
…jp
Hey Cory,
I couldn’t have said it better and the video was simply incredible, Showing that strength lies in numbers, and will overcome things that might seem impossible or out of reach. Remember this was shown using the natural instincts of a large group of buffalo. Imagine for a moment, what a large group of intelligent human beings can accomplish when they are brought together using ” How Can I Help You First Mindset” all having similar dreams and goals.
This is what has drawn me to Cory and Shortsale-ology, The bringing together of a large group of professional real-estate investors specializing in Short Sales, from those just getting started to those of us that have years of experience. What makes this a special group is the common thread that holds it together about serving others and not holding back any information that might help another member avoid mistakes and get the most out of each and every opportunity in Short Sales.
I can see Cory’s vision and want to be apart of it, I only wish I had this type of help when I got started in Short Sales 2 years ago, because I know if I added up all the money associated with the mistakes I’ve made combined with some of the bogus training I paid for, Well I rather not even go there, as I’m sure it will make me sick to my stomach.
Getting a little off point here, where was I, Strategic Alliances.
Strategic Alliances is an essential part to building any business, particularly in the Short Sale
business where their are so many agents, brokers, mortgage bankers and lawyers all whom have
clients they want to serve, but just don’t have the specialized knowledge to do it. I am totally on board with holding meet and greet events with all of these Partners, its Sales 101, we hold the Product (knowledge) to fill a need of our strategic partners, We are providing them not only with another solution in there tool kit to help their clients but another source of revenue to boot.
Do you think you can sell it? I know you can, because its working for others nationwide.
and by creating these Strategic Alliances, you are well on your way to becoming the GO TOO GUY/GAL/COMPANY FOR SHORT SALES IN YOUR COMMUNITY.
REFERRALS * REFERRALS * REFERRALS
Hope to see you guys on ShortSaleology
Regards,
John M Pierro
ISLAND SHORTSALES LLC
Bob - It isn’t surprising to hear that happening over there. It’s happening all over the place. I would see keep looking until you found one that isn’t working with a company on a consistent basis. You can always ask if they are satisfied with the person they are working with too. This might give you another “in” to talk with them how YOU are different.
Brian (Bank Negotiator) :0) - That is an excellent point. Dan Kennedy Marketing Maven is big on that too. In ShortSaleology you will see one coming very soon. Because you are so passionate about it, you might even be the one helping us write it …:0) Thanks man!
John and the rest of you… All ROCK!
Cory your absolutely correct! “Strategic Alliances” I was listening to a Microsoft webinar given by Gozilla Marketing and they touched on the exact same thing. The latest I have seen in Strategic Alliances is Avon and Curves. They have put there heads together to find out how they can help each other. The end result, Avon sells more products and Curves obtain more members. “PURE GENIUS”
This article has prompted me to now go back to the broker’s in our area who are really clueless of what is happening with short sales and show them how I can help AGAIN because if I can show how they can propsper it is impossible for me not to do the same. As one commentator said once you leave there office they DO FORGET! A lot of realtors here have gone back to work because they still have mouths to feed and priorities. This article was an eye opener for me Cory. Even though I love to help others, sometimes you really don’t know how much of a help you can be until you sit back and analyze it. If I analyze people the same way I do a short sale deal I could be a help to alot more people out here!
I do feel Cory that you are helping us by creating Shortsaleology. I have even change my homepage on my laptop to shortsaleology. (”It’s That Serious”) I have been telling everyone I know to go an sign up NOW it’s only $1.00!!! Many laugh until they log on and see the weath of knowledge you are and how much you are giving us! I would even like you to have t-shirts with shortsaleology on it so I can wear it to my REI meeting! The video was GREAT!
Thanks Cory
It’s me Again,
Okay I went back and watch the video again….Picture this at first I saw if and in my mind it registered “Team Work” but I watched it again. Not only did it represent teamwork, because some people say I have a team but actually it is “Them and Then the TEAM” It is not just ONE BIG TEAM…
Now I watched it again, this video clearly says a number of things:
1. Now matter what situation you are in, you can come out a winner (i.e. No matter how hard/difficult of a short sale/homeowner your dealing with, you can still come out a winner and close your deal)
2. There is power in numbers. (i.e. Wouldn’t it be better to help alot of people through “Strategic Alliances than ONE person”)
3. I was listening to the people in the car and the man was saying oh goodness that baby bull is not going to make it, oh my goodness (”that man was funny”) but my translation of that was NO MATTER WHAT PEOPLE SAY, NO MATTER HOW MUCH THEY MAY TRY TO DISCOURAGE SOMETHING YOUR DOING THAT YOU KNOW IS RIGHT, AND MOST IMPORTANTLY NO MATTER HOW IT LOOKS WITH YOUR PHYSICAL EYEBALLS….the end result is not WHAT YOU SEE. The things you see are temporary!!! Stop looking at challenges and giving up!! NEVER GIVE UP!!! No matter what people think because I thought that poor baby bull was DONE aka ON HIS WAY TO BULL HEAVEN but I was wrong, that baby was holding on for his life! If we do the same thing in difficult times, with difficult people and with difficult deals imagine how powerful you can be!
4. Them TIGERS….you see they went after the smaller bull and didn’t mess with the BIG ONES..why??? Because they knew that they had a better chance of killing that baby than the big one and they didn’t want to take a chance with the Big Bull! Now my thoughts about this is Why do we sometimes think going after a short sale that is normal (residential) or in my range is better than a short sale on an apartment building?? Is it because we are afraid to go after big deals??? or is it we rather take the easy route and deal with residential only?? We can makes so many excuses as to why we don’t do something! I guess my point is, if you going to dream DREAM BIG!
You can be pitiful or powerful BUT YOU CAN’T BE BOTH!
5. Lastly, the tiger and the two bulls at the end!!! Oh my goodness poor tiger, I hate to see what they did to him after they went over that hill but THE TIGER GAVE UP AND ran! This is what many short sale investors do when they get NO, NO NOT INTERESTED, LOOK DON’T CALL ME ANYMORE, DON’T MAIL ME NOTHING ELSE, I DON’T NEED HELP, I CAN’T EXCEPT YOUR OFFER, NO YOUR CLIENT IS GOING TO FORECLOSURE!!
Don’t run, go back and get your “strategic alliance” and stand strong like them TWO BULLS!!!
Holy Moly that was a phenomenal video!!! Well said everyone… I watched it twice and I can not even describe what an impact it made on me and how much it made me realize on teamwork and my power team. I loved it!!!
I must confess… My whole life before I was a real estate investor I always wanted to do everything myself. I realized some time ago that I couldn’t be that person anymore. I had to get out of myself and my old ways to become successful. I think fear had a big thing to do with it and I heard some time after that fear was just “False Evidence Appearing Real” and the only thing you should really be afraid of is “being the same”. Imagine doing the same mistakes over and over and over again and not learning from them… “THAT’S INSANITY!!!”
I still remember my first phone call to the Loss Mitigation Department on my first short sale as if it was yesterday. I must of screwed it up at least 20 times and told myself this is not for me at least another 20 times after that. I am still here, bigger, and stronger than ever before because of those mistakes. I remember the loss mitigator was so intimidating. He made me feel like a small ant. Those buffalos showed fear at first like I did at one point but, they came back. Great Stuff everyone!!! Thanks Cory
Regards,
Freddy
Mr Shefren is now on the board!
Ok guys!
I need help! (I know this question is out of the subject) I maked an offer on a short sale Townhouse back in April… it looked like a great deal 2 months ago, the same properties where appaised for around $260K in the same neighborhood , well, we got approved, we sent the bank to do the appraisal and the property was appraise at the same price that we offer ($220K) should I back up? or is a short sale negotiable.? My realtor is not really helpfull on this. Please help.