realwired!
Ask about our latest offering,
The perfect system for banks to lower the cost of ordering appraisals, managing 3rd party service providers and managing problem real estate loans. |
QuickConnect
QuickConnect+
ProjectWorkspaceCustom
Are you...
Tired of trying to email attachments and documents to clients just to get a "Delivery Failure" notice?
Paying overnight charges for large documents?
Ready to solve delivery delays and improve workflow and increase production?
|
No. 1 Selling Comp Database Software
|
More than 5,000 of you love DataComp©. Now be the first to have EDGE©...the appraisal report generating software.
Contact us for special Introductory Pricing! |
For more information on realwired! Products and Services, please call (813) 349-2700 or email Sunda@realwired.com | |
TOP OF THE WEEK TO YOU!
(by realwired! CEO, Brenda Dohring)
Top of the Week to You! is designed to offer the inside scoop and latest of what's important in the world of technology as it relates to the commercial real estate industry. | |
Stress Test Results
Generally, we get Stress Test Results after a grueling run on a treadmill. There's a nurse standing beside you insisting you go faster and longer while you try to make sure you don't fall off or hook one of the monitoring wires on the machine and rip the patches off, adding to your pain and possibly requiring a "do over". But in today's world, we anxiously awaited the outcome of the top 19 banks in this country receiving the results of their stress tests - SCAP, Supervisory Capital Assessment Program. Heavens! Doesn't anyone think what the acronym will be before they name these things? Whether you pronounce SCAP with a short or a long "A", it's just bad. Like TARP, Troubled Asset Recovery Plan. How many times did you hear, "put a TARP on it?". Anyway, I digress, but the link above really is worth scanning, (there are great charts) even if you're not into reading. This past week's SCAP results were a fascinating read. Ok, I'm a geek. But really, it was interesting and I'm anxious to see what the actionable items are from the exercise. After all, isn't the "what to do about something" the most important question we all try to answer? Think about it. Every day in our business and professional lives we are given results, everything from my computer is running slow, Bob in the next cubicle talks to much, my prospects are never at their phone when I call, the toilet paper roll is empty, (I just threw that one in to see if you're paying attention), my boss and colleagues can't get me the answers I need quick enough, etc, etc, etc.
So what do we do with the results we are given? How do we react to the stress? What actionable things are we willing to do? Can we put in place processes and even rules that will lessen the number of these "results" and therefore lessen the number of stressful items that enter our space? Yep. And what I know for sure is that stress is personal. How we choose to react to it is our responsibility, just as it's the banks responsibility to deal with their results. Now just because it is personal for both organizations and individuals, doesn't mean that the actions taken will be handled as such. Shame, Shame.
Some say we can't control events, we can only control our reaction to them. I say we can't control all the events, but we can control the number of events to a degree and train hard to handle the events that are out of our control. No one trains for a stress test at their doctors. Everyone trains for an athletic event they want to do well in. The "stress" one feels before doing something they're trained for is adrenaline...a good thing. The stress one feels when an event happens without preparation is painful. You have the power to pick which stress you're in favor of and, frankly, if you're still reading you're the type of person who will do just that. Congratulations on continuing to train and getting good stress test results! |
Sales/Marketing Tip
Working in the Mine A truly remarkable property of other people is that there really isn't that much that you can tell about them by looking at them. Their clothes tell you only how they choose to dress today. They might look dreadful because they are on their way to change their oil. They may look great because they are trying to impress. Their height, weight, and complexion tell us nothing worth knowing. Oh, we sometimes jump to unwarranted conclusions based on superficialities. But they are just that: unwarranted assumptions. It's easy to judge books by their covers. It's unlikely that our judgments will be correct.
In order to understand anything worth understanding about another person we'll have to get them to talk. Only thereby will their mystery be unraveled. To complicate matters, people are not necessarily inclined to share the truth. The first things that they say lack context. They may be shy, fearful or ambivalent and hence, be guarded. They may embrace political correctness. The unwary and the naive take what people say at face value when, in fact, the truth is a prize that must be earned.
Does any of this matter? It matters a lot if you're in sales and in today's marketplace everybody at your business who ever speaks to anyone outside of your business had better be in sales to some extent. The people in your firm meet people who are your prospects every day. These interactions, whether they arise by chance or design, should not be squandered. Yet they often are. You paid for them. Why not teach your people the art of harvest?
Bringing home the bacon is not rocket science. Three things have to happen: 1. The meeting has to turn into a conversation. 2. The conversation has to result in a good impression. 3. The impression has to result in an introduction to someone at your firm who is skilled in the science of conversion.
Curiosity is the key.
So often initial interactions lead to premature pitches. This is putting the sales horse before the cart. To put people at ease one should focus the conversation on the other person not on what you and/or your firm can do for them. Just as often, no conversation gets started at all. People exchange pleasantries and then go right back to talking with people whom they already know. When meeting a stranger see the opportunity as a gift from above. At least pretend that the other person is interesting and, lo and behold, most people turn out to be just that: interesting.
Being interested shows that you care. Listening is a rare and precious commodity. People respond to people who listen. They sometimes talk about their goals, values and dreams. From such stuff great sales and lasting relationships are made. Yet few people study the fine art of drawing others out. Countless hours of school has taught us to demonstrate our knowledge. We naively try to impress. Others are not attracted to those with expertise nearly as much as they are to people who try to understand them. The time to demonstrate your competence will come only after you've earned the right to have a real sales conversation.
Your prospect should feel that in meeting you they've discovered a hidden gem, a treasure, someone who makes them feel important and good about themselves. In the modern business world this is a largely lost art. But, with practice, it can be recaptured. As kids many of us did it naturally. I'll say it again.
Curiosity is the key.
Mark Fitzgerald, Sales Training Institute, Inc., Tampa, Florida provides this column weekly. Mr. Fitzgerald provides both group and customized sales training for professionals and companies. For more information, please contact him by telephone at 813-831-5555, via email at mark@saleskills.com or visit www.saleskills.com. |
Hot Deals/Leads
Cosimo's Pizza operates 40 locations throughout CT, MA, MD, ME, NJ, NY, PA, RI and VT. The restaurants occupy spaces of 600 sq.ft. to 800 sq.ft. in mall food courts. Plans call for two openings throughout the East Coast from PA to VA during the coming 18 months, with representation by The Bieri Co. Typical leases run 10 years. Major competitors include Sbarro. For more information regarding Cosimo's Pizza, contact Jim Bieri, The Bieri Co., 660 Woodward Avenue, Suite 1500, Detroit, MI 48226.
Bob Evans Farms, Inc. trades as Bob Evans Restaurants at 569 locations throughout DE, FL, IL, IN, KS, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, TN, VA and WV. The family-style restaurants occupy spaces of 5,400 sq.ft. in freestanding locations. Plans call for six openings throughout the East Coast and FL during the coming 18 months. Preferred cotenants include Home Depot, Kohl's, Lowe's Home Improvement, Wal*Mart and Target. Preferred demographics include a population of 50,000 within three miles earning $45,000 as the average household income. Major competitors include Cracker Barrel, Denny's, IHOP and Bob's Big Boy. A land area of 1.25 to 1.5 acres is required. The company prefers to acquire sites. For more information, contact Stephen Warehime, Bob Evans Farms, Inc., 3776 South High Street, Columbus, OH 43207.
Orchard Supply Hardware Stores operates 86 locations throughout CA. The hardware stores occupy spaces of 35,000 sq.ft. to 55,000 sq.ft. in freestanding locations and power and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 15 years. Preferred cotenants include Kohl's, Target, Costco and grocery and drug stores. For more information, contact Roger Smith, Orchard Supply Hardware Stores, 6450 Via Del Oro, San Jose, CA 95119.
Gothic Cabinet Craft operates 40 locations throughout Long Island, New York and Westchester, NY. The stores, manufacturing and selling real wood furniture in a variety of finishes, occupy spaces of 2,500 sq.ft. to 25,000 sq.ft. in freestanding buildings, urban/downtown areas and strip and value centers. Plans call for two to three openings throughout NY during the coming 18 months, with representation by Sholom & Zuckerbrot Realty, LLC. Typical leases run 10 years with options. A vanilla shell and specific improvements are required. For more information, contact Marc Durst, Sholom & Zuckerbrot Realty, LLC, Kaufman Astoria Studios, 35-11 35th Avenue, Long Island City, NY 11106.
Talbot's operates 580 locations nationwide and in Canada. The stores, offering women's apparel, shoes and accessories, occupy spaces of 5,000 sq.ft. to 8,000 sq.ft. in endcaps and freestanding locations. Growth opportunities are sought throughout NJ during the coming 18 months, with representation by Silbert Realty & Management Co., Inc. For more information, contact Brian Silbert, Silbert Realty & Management Co., Inc., 85A Division Avenue / PO Box 406, Millington, NJ 07946.
Like these leads? Want more? Go to the Dealmakers website for a FREE Trial subscription to The Dealmakers, the nation's weekly news source on retail real estate. |
Featured Internet Site of the Week
BillShrink
BillShrink is a free, personalized savings service for everyday services like wireless and credit cards. It's hard enough to understand complicated bills, let alone to figure out where you might be able to save money.
| |
|
|