Joe Stumpf’s Magic Words Dialogues For Realtors And Lenders

Mr. and Mrs. Client, I have come completely prepared to share with you the different ways to reach your goal of buying/selling/borrowing.

Before we get into that, I want to show you what makes me different from the traditional real estate agent/mortgage broker.

When I say “traditional,” a good word picture is “Taxi Driver” – have  you ever been in a cab?  Then you know it has its own unique
experience.  Usually you go for the ride, you pay, you get out and you never see the cab driver again.

I’m a By Referral Only consultant who is more like a limousine service.  As you can see, I have the words By Referral Only on my business card.

That means that while most service providers, like taxi drivers, spend 80 to 90 percent of their time looking for new clients, I spend most of my time working with clients who were referred to me.

Since my business is more like a limousine service, I invest 80 to 90 percent of my time focusing on making your experience with me first-class.

As a result of running my business like a limo service, my current and past clients happily refer me to family, friends and
coworkers who also deserve first-class treatment.

And the best part is that, in this case, the limo ride is no more expensive than the taxi!

When a person gives you a compliment, instead of deflecting it, build on it. So when a client says, “Joe, I appreciate all that you’ve done,” you pause and say, “Bob, isn’t it nice to know you now have a friend in the real estate business that you can be comfortable referring the people you care most about to?”

Magic Words

Isn’t it nice to know that you now have a friend in the (describe what you do) that you are now comfortable referring the people you care most about to?

Isn’t it nice to know that you now have a friend in the real estate business that you are comfortable referring the people you care most about to?

Isn’t it nice to know that you now have a friend in the mortgage business that you are comfortable referring the people you care most about to?

Isn’t nice to know that you now have a coach in the real estate and lending business that you are comfortable referring the people you care most about to?

That would be me!

Joe

I’m not going to tell you that your buyers, sellers and borrowers feel fear from time to time, because you already know that, but I will suggest that you better learn to ask profound, insightful questions that help them get out of their fear.

After all, that is what a skilled consultant would do!

Now, imagine what it would feel like to have two powerful questions in your arsenal of Magic Words that you could ask anytime you sense your client is in fear.

Imagine having two questions that instantly get your client to change their perspective from one of limited options to unlimited opportunity; fear to fearless!

I first learned these questions from my friend and mentor Brian Tracy.

Here is my story.

Back in 1985, I was promoting seminars for Brian Tracy. After a few years of working for Brian, I decided that I wanted to be the speaker more than I wanted to be the promoter.

I had to tell Brian what I was planning.

Because I admire and love Brian, I wanted his advice and his blessing.

I called Brian and asked him if he would give me some much-needed advice.  We met in the backyard of his mansion in Solana Beach.

I told Brian that I was ready to move on from being a promoter to being a speaker/trainer like him. He smiled and said, “Well, what is stopping you from doing what you dream of doing?”

I said, “Fear!”

Brian asked me this very profound question. He asked, “Joe, what would you do if you knew you could not fail?”

The question put me into a trance.

I stalled for a minute and he asked me the question again in a different way. Brian said,  “What would you do if it was OK if you fail?”

It was these two questions that opened up my mind to possibilities. For the next hour, I described to Brian that my intention was to teach real estate and mortgage lenders how to build referral business.

Brian smiled after listening vigilantly to me for over an hour and said, “Joe, go for it. I totally support and encourage you to live your dream.”

As I reflect back on that critical moment, it was these two questions Brian asked me that gave me freedom to dream bigger then ever before.

Sometimes all we need is permission to dream big!

1. What would you do if you knew you could not fail?

2. What would you do if it was OK to fail?

I now give you permission to ask your clients the same question when they are in fear or confused about what to do next.

Secret #1: Always Create A Valuable Client Experience Before You Expect Or Ask For Referrals.

What is a valuable experience? Here is part of a dialogue I teach in the Live Main Event CD Program on day two.

A valuable client experience has three parts to it.

1. Inspired, Intelligent Consulting.
That means asking profound questions and crafting specific, strategic advice that simply wows your clients.

2. Powerful, Purposeful Negotiating.
That means treating their money like it’s yours. It is really being a “warrior” when it comes to making them and saving them money.

3. Obsession With Overseeing The Transactional Details.
That means every “I” must be dotted and every “T” crossed. Every transaction has hundreds of pieces of paper and dozens of signatures that require explaining and understanding. As their trusted advisor, you help them make sense of it all.

Now, when you do those three things, you have created a valuable experience that is worth referring to. Is it time for you to improve your consulting, negotiating, and overseeing the details skills?

Secret #2: Always Keep Your Mind On What You Are Giving, Not On What You Aren’t Getting.

Maybe you have heard me say this thousands of times:  “Lead with a giving hand.”

The easiest thing to give is a referral. If you want referrals, then give referrals. Play a game with yourself and see if you can give a referral every time you talk to someone. Here are some examples of how you might do it.

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Magic Words

#1 Last night I had dinner at Panera Bread. They have a soup and salad combination that is a great value. When you are in the area of the Forum and you want a great meal at a great value, give Panera a try.

#2 Yesterday, I got my car washed at Steve’s Detailing in Orange County. I have been to a lot of car washing places in my life, but never any like this one. These guys are like me — obsessed with the details.

#3 My blog software is called WordPress. There are a lot of choices out there to use as blog software, but WordPress sure seems to have the most functions for the investment. Go to wordpress.com and find out more.

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The point I want to make is that every time you are in a conversation, give to others what you want them to give to you. Play my game, “10 to 1,” which is don’t even expect a referral until you have referred 10 people to them.

Secret #3: Always Let Your Intentions Determine What Gets Your Attention.

If you are a student of mine, By Referral Only, what I want for you is a constant, steady stream of 5-Star referred prospects seeking you because of your inspired, intelligent consulting; powerful, purposeful negotiating; and obsessed nature of overseeing the transactional details for them.

I teach that the purpose of your business is to be referred. It’s not a marketing strategy; it is much more than that. It is the purpose of your business. If your intention is to create referrals, then are you giving all you attention to your purpose?

That is why listening to the Live Main Event CD Program to learn the systems, methods and processes to create a deliberate, organized referral system is the intention of the purposeful lender and real estate consultant.

Good Morning,

Welcome to my new blog where over time you will learn Magic Words That Make You Money. Magic Words are words you already know. You use them every day, and here at this blog you will learn how to put them into the right combination so you make more money.

It’s that simple.

Here is your first lesson…

Instead of saying “Short Sale” say, “You Owe More On Your Home Than It’s Worth And You Don’t Know What to Do.”

The words “short sale” lack the empathy a homeowner, who has lost their dream, wants to hear. If you really believe you can help people who are in this distressed situation you must build rapport with empathy, and Magic Words like these will do the job instantly.

Magic Words

Mr. and Mrs. Seller, 40% of all people who bought a home within the last 48 months (who took advantage of low and no down payment programs), now find themselves in a position that they owe more on their home than it’s worth and they don’t know what to do.

That is why we have created a 90-minute workshop that is held at the community center called “You Owe More On Your Home Than It’s Worth And You Don’t Know What To Do.” After the workshop you will know what your next best step will be.