Mike Schumm

    Mike Schumm is the Founding Member of the Schumm Team, a Long Island Top Producing Team Since 2004, top 2% of Realtors nationally – Chairman Circle Gold Award Winner.  He’s been a local resident for over 45 years, with 20+ years of Expert Sales and Negotiating skills that greatly exceed the MLS average.

    Questions and topics Patrick and Mike discussed

    • Learn how to build, organize & update your client database
    • Get to know clever strategies on how to be comfortable and overcome the fear of prospecting
    • Find out how to have a great real estate conversation to gain more leads & referrals.
    • How to stay on top of mind with clients and prospects
    • Discover the power of social media on how to engage and connect with your clients

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    Here are some juicy excerpts:

    Patrick: Can you give us a little bit of background about your coaching history?

    Mike: Coaching has been a little bit interesting ride because that was never on the radar quite honestly. I was coaching with
    Eileen Rivera at that time. And she said I think you’d make a great coach. Have you ever considered being a coach? And I said no, but let me give it a try. But then, kind of my jump in with everything with two feet approach to everything I do, is I started. And then probably in less than a year, I went from zero clients to well over a hundred coaching clients in the low hundreds, which was kind of insane. But what it did was it taught me how to coach very quickly because I had so many diverse clients and so many diverse markets from Australia to Canada to the US to the super luxury market in Manhattan to somewhere in the rural down south or Midwest whether you know selling you know mobile homes. So I learned very quickly works and it was interesting, is that I found there are certain things that worked well in every market right? It’s kind of everyone has a database, everyone has a sphere. And so I realized that everyone should master this one pillar, if you will because it had the highest conversion rate out of any other way of generating leads in a real estate business. So I started focusing on building out a system which is my — I guess, my philosophy in building all these businesses and helping my clients is really simple. That a business is made of two things. It’s creating systems and then getting people to run your system. I transfer that skill. And that’s all I do with my clients. Week in and week out I say, alright we need to generate leads. How do we want to do it? Let’s figure out how to do it, and then let’s find someone to run that system and we’ll go build the second system. And we just continue this process of building systems and then transferring that skill to someone else. And This is how most of the teams I manage and I help run or own are completed.

    Patrick: The big picture gets very overwhelming so I love it when you gave us that little checklist. So could you just share with us today some of the the best practices for a couple things. Number one is, for any of my guys and gals out there today that really just have not taken the time to complete their database in terms of the actual data? And then also, like for me, I was just talking to a gal today who is a new agent who I want to hire on my team and I want to like step number one, get her database organized. So what would you say are some of the best practices to get that done, get it in the momentum so that we can start marketing done.

    Mike: Right. Let me touch on first before we get to the second. Before you touched on first is with the Realtors and when I started coaching all these clients and I asked everyone, every client I had is that: are you working your database? Do you have it built out? Are you communicating with it properly? But the answer 100% of the time was no. So my first curiosity was why? We all know it’s probably one of your best lead sources. And the reason why, and to do this properly at best if you really focused on it would take you close to a month of getting it just started and starting to interact with it properly, and Realtors have a very short attention span. So I gave a client an assignment. So I’d build out their database and they would work on it for a day or two. So what we needed to do was to chunk down the activities like you mentioned earlier, into bite-size pieces so that they would be able to successfully get it done and not be overwhelmed by the the overall you know, size of scope of this project to get it done. And so the way we did it was just to get them to commit to one hour or so a day, on their calendar is blocking out a time that was — that would be part of their real estate work day, but they wouldn’t be working in their business that they would spend working on their business for a whole month right. So look at your google calendar, I want you to block out one hour a day over the next 30 days that you’re going to be working. And step one was really simple, was to identify 150 people that either know you, like you, and/or trust you, right? People that if you stayed in front of them well enough, frequently enough, they would do business with you most likely. And then we use a memory jogger list for that like you’re talking about chunking it down and making it easy to understand. And these are the 150 people that you probably know right? Past clients, your neighbors, people you went to school with, your doctor, people on the PTA or at the Rotary Club that you belong to. Step one is to identify those 150 people. Which is the average number number of people that fall into this group and having coached again so many clients. On the low end, you’d have 150 people that are totally connected somewhere you might be around 200 or so, maybe 250. I’ve had one client but those 150 or 200 that know you, are just… that was like exercise one. How long would that take? That might take you a good week right? Just get everyone’s names and get to that memory jogger list with step 1. So then I would have my coaching call next–

    Patrick: Let me just interject there. You know what I found
    when I was working with Cay and Carly was, I actually had to create the
    spreadsheet first. We didn’t– you know, I create a Google spreadsheet, get an Excel spreadsheet. Put at the top his name her name, his phone her phone, his email her email. It was like you know, it was so funny well as soon as I did that the whole thing escalated quickly yes I it was an interesting little process.

    Mike: Everyone, is just– step one, get the pencil or create the spreadsheet and put the name at the top you know database get them…
    it’s really creating some momentum in the right direction so yeah that’s a great point Patrick. Then I will tell you that, that seems to be the best step one, is because for different reasons, some people just use a spreadsheet depending on how big your team is or your agent so that works for them. A lot of the other clients have different CRMs but are converting the excel sheet to a CSV file and importing it
    is fairly easy with almost every CRM. So that alwasys seems to be the best advice. So just get a spreadsheet and then create four columns right. All I want you to do is to have column one, as their name; column two, would be their phone number; column three, their email address; and column four, would be their mailing address. That’s how we want to communicate with the group as we build it out. And then week two, we would ask them each day is just to update 10 contacts. Which work out well because they should be prospecting every day. So instead, when you’re doing your hour of power, you want to reach out to these people. And if you don’t have all four pieces of information, you just tell them you’re updating your holiday card list or your database and you know– What’s the best address to use when remailing your holiday
    card next year, for example, was a good way to get them started with just 10 contacts a day but going back to what I said why most agents don’t have this project ever completed as you’ve just committed to three weeks of sticking to one project and working on it every day monday to friday and most realtors don’t have that attention span. That’s why coaching is so good with the accountability, is we check in with them on a regular basis to get them the 150, within hopefully, a three to four week period and getting past step one.

    Patrick: Is there any awesome books that you’re excited about right now Mike that we should be paying attention to as a group say on implementation?

    Mike: Once a year I read Think and Grow Rich by Napoleon Hill and I make sure I’m implementing the 13 habits right. The 13 pillars of that book. Right now, I’m rereading The Miracle Morning for Real Estate Agents and revamping my morning routine as some examples. I’m reading another book of my own private at 3 I’ll keep one on audio right I’ll keep my book in my office, I’ll go over The Millionaire Real Estate Agent book right from time to time there’s another example.

    Patrick: How much content are you really consuming per month?

    Mike: My goal is 20 pages per day so that’s 600 pages per month which is two to three awesome books and I gotta chuck it down.

     


     

    Think and Grow Rich: The Original, an Official Publication of The Napoleon Hill Foundation

    Money and material things are essential for freedom of body and mind, but there are some who will feel that the greatest of all riches can be evaluated only in terms of lasting friendships, loving family relationships, understanding between business associates, and introspective harmony which brings one true peace of mind! All who read, understand, and apply this philosophy will be better prepared to attract and enjoy these spiritual values.

     


     

    The Miracle Morning for Real Estate Agents: It’s Your Time to Rise and Shine

    Money and material things are essential for freedom of body and mind, but there are some who will feel that the greatest of all riches can be evaluated only in terms of lasting friendships, loving family relationships, understanding between business associates, and introspective harmony which brings one true peace of mind! All who read, understand, and apply this philosophy will be better prepared to attract and enjoy these spiritual values.


     

     

     

    Patrick Ferry 

    Keller Williams Realty

    Cell: (858) 519 – 7101

    PatrickToddFerry@gmail.com

    Website: www.DreamLivingSD.com


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