Summertime

The summer break is over and I have heard many people say they are ready to get back to a normal life again and get busy working. When the kids go back to school, it is important to get them back into a routine to get them on track for a successful school year. I’m sure the kids will go to bed earlier, rise earlier, read more, study again and have a schedule. Now is a good time for you to do the same to be successful in your real estate career. Go to bed earlier – rise earlier – get to the office earlier. Read more on the market. Study trends to educate your clients about. Get yourself on a schedule and stick to it. Many of you did this in the past for your kids so you know what I am writing about, some of you are going through it now. You encourage(d) them to do it, now I am encouraging you to do it for yourself.

For the last quarter, analyze your business plan to see what you need to alter to propel you into next year. Get yourself into a routine of contacting and growing your sphere daily. Consistently write notes, make calls, stop by to visit with them and join or start a business development group. Preview homes to educate yourself on values. As 34% of the market is vacant, it’s easy to do! Attend trainings…trainings often go off topic and valuable information is shared! Go to your mastermind group, real estate information exchanges, and seminars outside the office to get a different perspective on the market. Get a designation – agents with designations earn more that those who don’t have one! Have an open mind, you never know what you will see, learn and do!

Ask yourself if you are really working and giving it your all? If not, why not? Is this the right business for you? As the market has changed, it may not be and that is OK. What is your daily attitude? How can you make it a positive one consistently? Additionally, look at your business and see what has worked and why? What hasn’t worked and why? What marketing efforts are working, which aren’t? Are you aggressively marketing your successes to your database and homes around where you sold? If not, why not? What expenses can you cut from your budget? What training is working for you and what isn’t? What touch points with your clients have worked to grow your business? How will you schedule your time to do more of these activities? Who have you met with that has had a positive impact on your business? How often are you speaking with them to keep the momentum?

What's your grade?

It’s amazing, the last two events I attended both mentioned grading your performance. How are your grades in today’s market? Let’s see how you are doing. Use a scoring system of 1 – 5. One is the low score and five is the high. Be honest with yourself so you know where you need to focus on improving to be more productive and earn more money.

• Prospecting
• Skill building
• Knowledge of the market
• Time management
• Presentations
• Your elevator speech
• Follow up
• Paperwork
• Communicating
• Networking
• Explaining your differentiating factor
• Systems and processes
• Timeliness

Total:

Analyze and see where your strengths are. Are they in the money making categories? If not, you may need to consider coaching or making a decision about your role in real estate. Where are your weaknesses? Can you hire someone to take on those responsibilities so you can focus on the money making activities? You must be effective and efficient in today’s market. Remember, success is a choice!

What does it take to be successful in today’s market?

The answer is basic. You have to prospect. You must be persistent and consistent in your daily, yes daily, prospecting activities. If you don’t have someone to work with as a buyer or seller, all of the knowledge in the world about real estate won’t get you a sale.

Where do you start? You must have a plan. Set a goal of how many calls you will make, how many notes you will write, how many appointments you will set, how many networking events you will attend and how many clients you will visit on a daily and weekly basis. Write it down and keep it visible.

It is critical to track your activities so you can “monetize” them. As an example, how many calls does it take to get a referral, how many referrals does it take to get an appointment, how many appointments does it take to get an agreement (listing or buyer) signed, how many signed agreements does it take to get a sale and go to closing. Once you know these numbers, it will motivate you to do the activities as well as improve your skills to get better conversion rates. Approach it with enthusiasm and a positive attitude – it will make it easier to accomplish.
Ask for help. Get a coach, an accountability partner, or a mentor to keep you on target and motivated. Choose this person wisely as they can make a huge difference in your approach and impact your results.

Also, prospecting must be on your schedule and you must stick with it to be successful. Set an appointment on your calendar everyday to do your activities. Focus strictly on this during your most productive time of day. Eliminate distractions by turning off your cell phone, don’t look at emails, or allow others to interrupt you. Be disciplined and you will see results!

Additionally, you must analyze your activities and adjust your plan accordingly to make you more productive during your prospecting time. Which activities are yielding you the best results? What isn’t working and why? Get the most out of your time by making a decision to step it up in the areas that are working and remove or spend less time on things that aren’t working for you.

Success in real estate is a choice. You must choose to prospect to survive in today’s market as well as propel you into the future.