by andrew | Oct 22, 2018 | BluePrint Of Success, Habits, Mindset For Success, Priorities and My Time
Do you enjoy the Facebook memories feature as much as I do? Recently a memory came up for me from a time when I was really into the sport of golf… at that time I had hired a “Master PGA professional” as a coach and my handicap dropped in half. Coaching works. The picture I posted was a golf ball inside the cup with the caption: “The main thing… get the ball in the cup in the fewest strokes possible. No need to make it more complicated than that!”
The main thing… get the ball in the cup in the fewest strokes possible.
For me, I learn by analogies… how one thing is just like another. Sports, music, and theater have great analogies for business. This memory reminded me that real estate sales has one main thing too…setting appointments. The more appointments you have in your schedule each week the more successful you will be. The objective of all real estate marketing and prospecting is to create more appointments!
Every time I meet one on one with someone seeking coaching on their real estate practice, I enjoy listening to the stories of why they don’t have time to do the little things they already KNOW will make a difference.
“Mark, I don’t have time to prospect consistently; I don’t have time to eat properly during the day; I don’t have time for a date night with my partner; I don’t have time to work out.” And the list of excuses goes on and on and on. Think about it, the most unprofitable item ever manufactured is an excuse.
So, what does any of this have to do with making more real estate appointments? You see here’s what I know, from working with peak performers and highly successful people all over the world… keystone habits matter. Some habits are more important than others. Keystone habits don’t create a direct cause-and-effect relationship, but they can spark chain reactions that help other good habits take hold. Examples would be exercising… exercising can help you eat better; family dinners can create greater bonds outside of meals; planning your days and time blocking can lead to stronger focus throughout the day.
If you don’t have time for the small things you won’t have time for the big things.
Taking action: Start by making ONE adjustment to your daily routine immediately. You KNOW what it is… write it down right now. Text it to your partner with a commitment and ask them to hold you accountable.
You might struggle a bit the first day, or the second day… yet one day you’ll master it. And then you can add the next keystone habit to your arsenal. You see it’s about keeping the main thing the main thing.
“Typically, people who exercise, start eating better and becoming more productive at work. They smoke less and show more patience with colleagues and family. They use their credit cards less frequently and say they feel less stressed. Exercise is a keystone habit that triggers widespread change.” ~ Charles Duhigg, The Power of Habit
by andrew | Aug 27, 2018 | Appointment Setting, Best Practice, BluePrint Of Success, Coaching, Goal Setting, Priorities and My Time, Staying Relevant, Success, Sucess Goals, Top Agent, Top Producer
How would it feel if you could help 50 families buy, sell or invest in real estate every year?
A system will produce what a system will produce… nothing less, nothing more. So I’m curious, what is your system producing for your business? Are you happy with that result or do you want more? If you want more, read on.
Are Your Systems Producing Reliable Results?
Let me clarify. For some of you reading this blog, losing weight might be an example you can relate to. Losing 10 pounds is a GOAL. Changing the way you eat for life is a SYSTEM. Many of you have a goal of helping 20 or more families buy, sell or invest in real estate this year. That is a GOAL. What systems do you have in place to ensure that outcome?
So let’s review first why you need systems in place. Unless you are a hobbyist in real estate, you’ll need systems for:
- Consistent quality – for you, your clients and your partners.
- Simplifying your workload – like a checklist for a pilot, you don’t have to always guess what needs to be done next
- Saving time – less time wondering what to do and more time doing it
- Highlighting inefficiencies – with the right systems in place you can see what’s working and what’s not
- Growing your business – serve more people, make more money
As a real estate broker and later as a real estate business coach, I’ve seen, reviewed and put into practice virtually every system out there. In my current view of the business, the perfect place to start is with Gary Keller’s three L’s from The Millionaire Real Estate Agent: Leads, Listings, and Leverage.
Next-level agents – those that run their business as a business – implement real estate systems to handle each of the three L’s. Let’s dig in.
Leads are the lifeblood of your real estate practice. Without leads, you have no clients and no deals. Systemizing your lead generation and conversion processes will result in more clients and more successful transactions. One such system is outlined in The Millionaire Real Estate Agent, which outlines a system to move prospects from your outer circle to your inner circle.
In the book, we learn 2 prospecting categories and 11 marketing categories to choose from and implement. Exploring all of them would spread you too thin, yet having a plan to start with one and “add one” each quarter is a solid process to build a strong real estate practice.
Lead systems include:
- Eight by eight – everyone you meet goes into a campaign with the purpose of establishing a relationship. Once a week for 8 weeks you make some type of meaningful contact. Text, follow up call, email, social media direct message, handwritten note. Get creative and systematize it.
- Thirty-Three Touch – everyone you know goes into the 33 touch program. 18 touches via newsletter, cards or drop-offs; 8 thinking of you touches; 3 telephone touches; 2 birthday touches (both partners); 1 touch each for a special holiday. Get creative – old media and new media – and systematize it.
- Twelve Direct – for those people you have not met in your target market area. 12 direct contacts a year. Get creative and systemize it.
Move Prospects From Your Outer To Your Inner Circle.
Your business is just math – depending on market conditions, your skills and results you will need to increase or decrease your formula:
For every 12 people on your “met” contact database – when you follow this system – you can reasonably expect to net 2 sales… either a direct sale or a referral for a sale. Do you want to do 5o sales this year? Then a solid database of 300 people using this system can produce that result.
For every 50 people in your “not met” database you can reasonably expect 1 sale. You want to do 5o sales this year, then you’ll need 2,500 people in your not meet database.
If you want to run an efficient real estate business, focus on gaining more listings, not more buyers.
Listings require less time and allow you more scheduling flexibility… you don’t have to work around the clients’ schedules nearly as much as with buyers. You can also be more confident in your ability to collect payment as a seller’s agent than as a buyer’s agent. We’ve all had buyers cut us out of a deal at one time or another. And even with a buyer’s brokerage agreement, forcing payment of commissions can easily get contentious. It’s a headache you just don’t need.
One of the best resources I’ve run across for a listing system is Hoss Pratt’s book LISTING BOSS
So work with well-qualified, sense-of-urgency buyers, but focus your efforts on earning listings from sellers.
Listings systems include:
- Creating Home Value and Neighborhood Activities campaigns
- Listing presentations: what can you show prospective sellers during your listing presentation that will distinguish yourself from your competition and help your sellers feel comfortable contracting with you?
- Staging: how will you help your sellers stage to sell?
- Property marketing: how will you promote your new listings? In our market, your marketing needs to be like the new home builders.
- Client communication: when and how will you be in touch with your sellers while the property is on the market and under contract?
Leverage is all about finding and utilizing resources to help you scale your business.
Perhaps you could spend more time landing more listings if you hired a transaction coordinator to manage the paperwork for your pending deals. Or you could spend more time on income-generating activities if you hired an assistant to handle the administrative aspects of your practice.
Leverage your resources to help you serve more clients and increase your revenue.
Leverage systems include:
- Assistants: what tasks can you delegate to an assistant (as an employee or even as a freelance virtual assistant)?
- Buyer agents: as your business grows, you may find you need a designated Buyer’s Agent to handle your buyers.
- Automation software: can some of your tasks, like social media posts or email campaigns, be handled by automation software?
- Your CRM… without a solid CRM and CRM process you are not in business you simply have a hobby.
Feeling overwhelmed? Good, that’s the place where all growth begins. Break it down into small chunks and get started today. If you have not read my article Delegate, Automate or Eliminate, now would be a good time.
Need a business coach? Schedule a consult with us today.
by andrew | Jul 18, 2018 | Appointment Setting, Best Practice, Goal Setting, JPAR, Mindset For Success, Priorities and My Time, Productivity, Real Estate, Success, Success From Scratch, Sucess Goals, Top Agent, Top Producer
In this week’s episode of “Success From Scratch,” Meghan Pelley from the San Antonio market shares how she applies the art of “stop selling and start listening” to create a business she loves, by design.
“Stop selling and start listening.”
– Meghan Pelley, JP and Associates Realtors®
by andrew | Jul 11, 2018 | Appointment Setting, Best Practice, Goal Setting, JPAR, Mindset For Success, Productivity, Success, Success From Scratch, Sucess Goals, Top Agent, Top Producer
In this week’s episode of “Success From Scratch,” the team leaders of The Star Group, Felicia and Greg Johnson shares how JP and Associates REALTORS® has inspired them to give back to the community and their secret to their success as a team.
We make sure that our clients feel that they are #1!
– Felicia and Greg Johnson, JP and Associates REALTORS®
by andrew | May 23, 2018 | Appointment Setting, Best Practice, Goal Setting, In The News, JPAR, Mindset For Success, Real Estate, Success, Success From Scratch, Sucess Goals, Top Producer
This week’s episode of “Success From Scratch” features Naddia Morales. Learn how she managed to transition from working for corporate America to being successful in real estate.
Naddia had $212 in her bank account when she started, in this episode learn how she became resourceful despite having no budget and no leads.
“You need to have a process and a system in place in order to grow your business.”
Naddia Morales, JP and Associates REALTORS®