Real Estate Training

Where Did Your Goals Go?

Where Did Your Goals Go?

By in Real Estate Training | 0 comments

They Got Lost Somewhere It’s mid February.  When was the last time you looked at those goals you set back in January?   By now, most people have given up on their New Year’s Resolutions and their business goals have taken a back seat to everyday life.  The problem with this is that everyday life produces the same results you’ve always had, so effectively, you’re not going to make your goals if this is what is happening for you. It’s Only February If your mind is starting to make excuses like “it’s only February, the market will pick up later in the year”, you need to be very careful.  Because while the market will be stronger in the summer, your habits are being set now.  And your results aren’t going to be better then if your prospecting isn’t better now.  If you aren’t on track to your prospecting goals, you need to get running to catch up or you’ll find in a few months that your new goals are no longer attainable and you’ll be left wondering… What Happened? You were so excited to get started. so enthusiastic about your plans, what happened?  This is a common theme for people the world over, they make a plan, start to work it, and then peter out and go back to their regular way of being.  Why? Change requires you to repeatedly step out of your comfort zone.  It requires choosing a new way of being and most people don’t have the stamina to stick with the change long enough to make it a new habit (21 days). Some changes change the way that you see yourself, your identity, and if you can’t whole-heartedly wrap yourself around that new identity, you will sabotage your change. Change requires the willingness to receive the new results.  If you don’t feel worthy or are unwilling to receive the increase in income or happiness that will result from the change, then you will sabotage it. It’s too hard.  Making change is work.  If you let yourself think about how much effort it is, you’ll talk yourself out of the new patterns and slide back into your old patterns. These are just a few of the...

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Systems Make a Business

Systems Make a Business

By in Eliminating Self-Sabotage, Real Estate Training | 0 comments

If You Don’t Have Systems, You Don’t Have a Business Systems make a business.  Without systems, you’re just throwing things against the wall and hoping they stick.  Systems are an organized approach that guarantees success every time.  And while yes, doing the same thing over and over again may be boring, it’s also what guarantees income.  (And this is why you eventually hire someone to do the boring things for you!)  3 Types of Systems There are three different types of systems in a real estate business: Prospecting Back Office Administration (Getting things done from listing/buyer contract to closing) Past Client Follow-up (which is also prospecting)   The Benefits of Systems When you put these systems in place, these cool things happen: Your business produces income automatically – You don’t go through cycles of feast or famine. You can increase your income anytime – just do more of what is already working. You have peace of mind – you don’t wake up in the middle of the night realizing that you forgot to do something important. You get time off – you can go on vacation and leave your files with another agent or an assistant who can see at a glance what has to be done so they don’t have to bother you on your vacation.   This Is What Happens Without Systems   Do You See What The Problem Is? Look Hard… Yep – You’re The Problem You are in the way of your business.  If you are the one who has to send out the prospecting materials and keep things moving forward, then you are the pinch point in your prospecting, and that prospecting doesn’t happen when you get busy.  Which means, you’re putting yourself out of business every time you get busy.  Cut it out! Step 1 Set Up Your Back Office Systems This way, when the business comes pouring in from the prospecting systems you’re about to put in place, you are ready to handle it with grace and ease.  It also means that when you’re ready to hire an assistant, you have a system to train them on.  This means there is a greater chance of that person succeeding at their job and you not having...

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The Secret To Effortless Success

The Secret To Effortless Success

By in Eliminating Self-Sabotage | 0 comments

How Hard Are You Working For Your Success? Have you ever wondered how some people manage to be successful in life without even trying?  The business just flows in the door to them effortlessly while you work your butt off for even half the success they are experiencing.  What are you doing wrong and they doing right? Success Is Simple There are 7 very simple steps to success.   Promote yourself – ads, open houses, seminars, networking, etc. Follow-up on leads Get appointments Close deals Follow-up with past clients Set good boundaries with clients and coworkers so that you get to have a life too Rinse and repeat.   And when you’re in alignment with your focus to be successful, the Law of Attraction kicks in and it’s even easier than that as clients magically appear.  It’s just that easy.   Except When It’s Not But what about when you just can’t get yourself to do the promotion or the follow-up?  Or you can’t ask for the sale?  Or you’re great at getting the business but you suck at saying “no” and so you have no life?  Or, even worse, you’re doing it all right and still just barely eking out a living? Self-Sabotage Blocks Are To Blame This is where self-sabotage comes into the picture.  It’s what is keeping you from finding the success you were meant to have.  You need to seek out the blocks and eliminate them so that you can move forward with clarity and strength. Find Out How To Eliminate Self-Sabotage From Your Life and...

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Set Your Goals For Next Year

Set Your Goals For Next Year

By in Real Estate Training | 0 comments

Goal Setting for Real Estate Agents I’m not going to comment a lot about this set of formulas for setting your real estate goals for the year.  This is meant as a simple exercise.  So fill in your numbers and let’s get started making next year your best year yet! (A) Real Estate Goal Income $_______________ (Gross to You Before Taxes) (B) Your Split with Your Broker _______%   (C) Gross Closed Commissions (after franchise fee) $ __________________ (A/B) (D) Franchise Fees (if any) ______% (if none, then write total from line C on line E) (E) Gross Closed Commissions (before franchise fee) $__________________(C/D)  (THIS IS YOUR GOAL) (F) Your Average Sales Price $________________ (not your market’s but YOURS based on past sales*) (G) Your Average Commission Rate ________% (not your market’s but YOURS based on past sales*) (H) Your Average Gross Commission $____________________  (I) Number of Transactions Goal ____________  (E/H) (J) What percentage of the deals you write don’t go through each year? _________% (K) Number of offers written/received goal ___________ (I/J) (L) How many appointments do you need to go on to get one client?  __________ (M) Total Appointments Needed ____________ (K*L)       If You Call Past Clients and Friends/Acquaintances for Business (N) Total Calls to Make _____________ (M*11) (When you call people who know and trust you already, statistically you’ll get a lead on 1 out of every 11 calls.) If You Do Warm Lead Generation (Open houses, FSBOs, Expireds, etc.) (O) Total Calls to Make _____________ (M*25) (When you call people who you already know are interested in real estate, statistically you’ll get a lead on 1 out of every 25 calls.) If You Do Cold Lead Generation (Internet leads, cold calling, etc.) (P) Total Calls to Make _____________ (M*100) (When you cold-call, statistically you’ll get a lead on 1 out of every 100 calls.  And while, yes, internet leads are technically warm, they are so hard to convert, that they get a cold-call return rate.)       Calls Per Week (Q) Number of Weeks You Work In A Year ___________ (R) Number of Calls/Contacts You Need To Make Per Week ____________  (N,O, or P/Q)   *If you are a brand new agent, then work from...

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9 Most Efficient Ways To Market Your Listings

9 Most Efficient Ways To Market Your Listings

By in Real Estate Training, Tips for Listing Agents | 0 comments

The Market You Don’t Think AboutDid you know that most transactions in this country (better than 65% in most MLSs) are co-broked?  That’s right! Almost two thirds of your business comes from other agents.  So while everyone else is focused on combing the internet for the next lead they will have to chase down, the smart listing agents of the world will be courting not the buyers themselves, but the busiest buyers agents instead.  Higher Return on InvestmentThink about it.  Getting into relationship with a single buyer’s agent takes significantly less time than it takes to get into relationship with all of their clients.  And giving that agent an incentive to show your properties first – especially in a slow-moving market – is easy.  Think About What They WantUnlike listing agents, buyer’s agents are strapped mostly for time.  If you can offer them services as a professional courtesy, they will preferentially choose your listings to show when all other factors are equal.  Make Showings Easy – They don’t want to have to wait for you to show your listing on an accompanied showing.  They don’t want to have to fight with your staff to get a key or figure out when the office will be open to pick one up.  They want a lockbox and an easy-in, easy-out process.  Be Honest In Your Listing Writeup – Nothing is worse than taking a picky client to a house that says “for the discerning buyer – in great shape!” and finding a pit that desperately needs a coat of paint.  It loses face for the agent who brought the client there and it doesn’t sell the house.  It will also put your actually nice listings at the bottom of the pile for future showings. Be Complete In Your Listing Writeup – Don’t be lazy. Put the measurements of the room into the listing. If measurements aren’t there, then a good buyer’s agent will assume that the rooms are too small and/or the agent is lame and they’ll take their clients elsewhere first.  Take good pictures and include them in the listing.  List Any Terms in Your Writeup:  Be clear up front if there’s a timing issue or a short sale or...

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How Out of State Sellers Pick A Listing Agent

How Out of State Sellers Pick A Listing Agent

By in Real Estate Training | 0 comments

I’ve Been ThereWhen my mother passed away in 2010, I hired an agent while I was in the height of my grief.  I picked someone who seemed to be successful from his approach and demeanor, but honestly, I didn’t do any homework on him.  I was just too tired.  I did do one thing smart, I refused to give him a year listing.  I wasn’t willing to have the house on the market that long.  I did sign a 6-month listing but I told him I wanted it sold in two and he should make that happen.  I gave him the price he asked for and two months later, I insisted on a price reduction.  At the end of 6 months, nothing had happened and I had heard from my agent a total of about 6 times.  I was a very motivated seller since the house costs me $2K per month to maintain. The Search for a Good Listing AgentSo I was faced with picking new agent.  I went into the marketplace online since this is how most buyers will find their house.  I searched for houses in the area that my mother’s house was in and I started pulling up listings.  I found a few agents in the area with listings that might cross-promote nicely with my mom’s house.  So I started making calls.  Not one of them answered their phones.  In fact, not one of them went to a cell phone.  They all went to office answering machines.  (Can you tell my mom lived in a rural area?)  So I went back to the computer again.  And I did another search based on the lake that my mother lived near.  This time I got better results.  The top items in the search were from Homes.com.  So I started digging through and the strangest thing happened.   No Profiles Filled OutAlmost every listing that I looked at had information about the house on it, but very little or nothing about the agent.  So I checked to see if the lack of a profile was price related and discovered that you can actually fill out a profile for free on Homes.com.  It costs you monthly to post your listings.  Which...

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