By Tips on being a successful REALTOR® in any economy
I’ve been speaking at numerous seminars around the country on how to deal with changing real estate markets. After every session, I’m asked by attendees to send a copy of my presentation to them, and so I’ve decided to go ahead and post it to the blog.
In today’s volatile real estate economy, the key to moving forward in your business is DISCIPLINE. Quite simply, it is the most powerful tool you have as a REALTOR® to ensure that you continue to make sales, even when the market is slowing overall.
And so, here are my suggestions for how to discipline and prepare yourself to perform in a changing market. I’ve broken this down into two parts. I’ve included Part 1 here. Part 2 will be in next week’s blog.
"Change is the law of life. And those who look only to the past or the present are certain to miss the future." —John F. Kennedy
I am certain that we will not miss the future. Our job—yours and mine—is to ensure that we recognize the dynamics of the market, provide the tools and vision, and capitalize on the change. —GB
THE DISCIPLINE OF FOLLOWING A POWERFUL MORNING SCHEDULE; MAKE A ROUTINE AND STICK TO IT
- People who have a purpose that is defined and clear progress at a much faster pace than those who don’t. Do you have specific production goals?
- Most of us are capable of getting only occasional glimpses of what we can become and achieve. If we are ever really aware of what we’re capable of, we would be amazed.
THE DISCIPLINE OF DAILY, WEEKLY AND MONTHLY PLANNING
- The difference between a real estate agent earning a living and a professional salesperson doing a large volume of business can be defined by their efficiency. In a changing market, efficiency is critical.
- Intensify your lead generation time and adjust your schedule to following it.
- Spend one night a week and one weekend a month doing intense prospecting to build your business.
- Stay focused until 8:00 p.m.
THE DISCIPLINE OF FOLLOWING UP ON 100 PERCENT OF YOUR LEADS
- When working with a lead, prospect, buyer or seller, close at least five times for signature or at least one more time than you’re comforatble with. YOU MUST BE ASKING FOR THE ORDER!
THE DISCIPLINE OF SETTING APPOINTMENTS EVERYDAY
- Whether the economy is good or bad, there is one cure for improving production. That is, go on 10 to 12 appointments per month.
- Each of us has to double the number of listings we take monthly and expect them to be on the market for a longer period of time, even when they are priced properly. This idea will generate more sign and internet leads for you and put you in a position to get more listings.
- We have to define for ourselves the meaning of the words "hard work," and then we have to increase both the amount of work that we do and the intensity of it. That’s the real secret.
- Get a thorough understanding (immediately) of the costs of servicing and selling your listings.
- To keep your business growing, you have to understand the importance of a 90–day cycle. For example, if you don’t have the business you want today, it’s because you failed to work on your business 90 days ago.
- Don’t let a day go by when you’re not working on building your business. How many deals do you want to have per cycle?
THE DISCIPLINE OF QUALIFYING ALL OF MY APPOINTMENTS AND THEN MAKING A DECISION
- If you’re going to work with buyers, don’t be afraid to hold an effective open house once a week.
- Create minimum standards for the buyers and pre-qualify them instensely.
- Be stronger in the pre-qualifying process, because we only want to spend time with highly motivated buyers and sellers.
That’s 1-5. Watch for the rest next week.
Gino
