RECR's Blog: January 2009

This one a little different for me...

As you all know by now, Im a Twitter-a-holic.  And, by being such, I have developed relationships with some of the best agents around the country.  I currently interact online with nearly 700 real estate professionals in all walks of the industry.

One of the people I interact with regularly is a wonderful young woman in Fredericksburg, VA, by the name of Sarah Stelmok.  Sarah is a wonderful person, a consummate professional, a continuing education trainer, and a dang good blogger.  (She is also currently taking referrals from www.recr.com in several areas...which means I like her A LOT!!)  Aside from that, I highly recommend you check her out at www.sarahiouslyspeaking.com.  In short, this lady is on point. Period.

So, imagine my surprise when Sarah contacted me last night and asked me to read a blog post that she was working on...I almost fell out of my chair!  With what can only be considered as a squeal (much like the one that would be uttered by a 6yr old girlscout when surprised) I agreed...and what I read was not only good...but great.  So, with her permission, I am posting the entire blog here!

You're Not Doing It Wrong, I'm Just Doing It Different

I've stopped counting the number of times I've been told that social media is a waste of my time, or the number of times someone has referred to it as a "young person's tool", or the number of times someone has rolled their eyes when I've mentioned that I Tweet.      

I entered the real estate business in 2004.  I was trained at a very well-respected company by well-respected agents.  I was told to learn from their experiences.  My first month on the job consisted of reading real estate books, waiting on my license to come in.  I read about keeping in contact with my clients via newsletters and postcards.  I read about the power of numbers.  I read about print advertising and attracting buyers and sellers through print media.  I read until I figured out that even blind squirrels stumble across a nut or two.  I had a desk in the "bull-pen" and the advantage of watching some of the company's top producers in action.  I never observed people coming in to the office to work with the elite agents because they had received an insightful newsletter.  I never heard their clients mention the fantastic recipe they had received from their agent either.  What I did see was the need for the client to be guided by this agent.  Their clients needed to have access to their knowledge and their professional sphere.  They worked with these top producers because they believed they did a good job.  I also noticed that the top producing REALTORS had taken time to cultivate their audience.  They didn't start out in the business as the elite.  They worked their way up systematically and developed a following.  As a young agent, age-wise and experience level, this was a very important phenomenon to behold.

But, ever diligent, I remembered my early training and the advice that so many had bestowed on me and plugged away at the newsletters, postcards, and stagnant website.  I followed the lead my company was offering and questioned very little.  However, nothing ever felt right.  I applied for and received the production awards.  I touted my production from the roof tops.  I looked the part, dressed in my REALTOR-wear - slacks, button-up shirt, and heels, but I didn't believe in the part.  I didn't feel comfortable in the skin I was told to live and work in.  I was truly acting my way through real estate. 

I was bored and it was only my third year in the business.  My numbers were good, but there was no joy in my career.  So, I began exploring the blogging world.  And everything finally made sense.  I realized I didn't want to talk at my clients; I want to talk WITH my clients.  I want my clients to take advantage of my knowledge.  I want them to have the ability to respond to what I tell them and question what I tell them.  I wanted my clients to be able to interact with me.  I want to engage those in my community and in my profession.  I want to build a following, not because of an end product, but because of the possibility of continued growth.  I want to BLOG. 

Social media has been a natural progression for me.  I am always amazed at how many people I touch every day and how many people touch me.  I am also always amazed at the feedback I get via comments or personal emails about my blog posts.  Social media has allowed me to grow in ways I didn't think possible.  It's not about the number of hits a blog site gets, or the number of readers.  Social media isn't a numbers game.  Having the most "friends" or "followers" doesn't mean much if what you are promoting lacks substance.  Social media is about the relationships that develop and the trust that follows.  Social media is about the big picture.         

I'm not saying that blogging is for everyone.  And, I'm not saying that if you're not blogging you're doing it wrong.  What I am saying is that blogging feels right for me.  Blogging feels right for my clients and it feels right for my business.  You're not doing it wrong; I'm just doing it different.

If you would like information on www.recr.com and how we can help you make more money, contact Clint Miller at 800-977-7058.  Or, follow me on Twitter at www.twitter.com/recr. 

Being in the industry that I am, I deal with agents all day long in just about every state in the union.  Some of the agents I work with are as solid as they can get...others, not so much.  But, the one thing that I do know is that all of them WANT to be successful.  It's just that some of them have the ability to ensure that it happens to them.

You can WANT to be successful with all your heart - The fact of the matter is that you will only be successful if you work hard, work smart, and avoid the pitfalls that the majority of agents hit at some point in their career...usually within the first 2 years.  According to recent statistics, as many as 50% of new agents are no longer active within one year.  And 75% of them are done within the first 2 years. 

My question is - Why? 

Is it because they don't know how it works?  Is it because they think this is easy?  Perhaps it's because they are "visionary" and plan on breaking new ground wherever their butt lands...

News Flash -- New agents don't come into the business to fail.  No one takes on a new career with the specific purpose of being the low man on the totem pole.  But, few realize that this job is just that...a job.  It's work, people!  In fact, it's hard work.  And by being such, you must have certain skills and apply some effort to make sure that you succeed. 

Now, with today's market, there are certain factors that are working against new agents. 

• There is an ever-widening space between what the consumer wants and the performance level of certain agents.  Agents require better training, coaching, and communication skills (online or offline) than ever before.
• The market (in most areas) has become more challenging then ever before.  Agents can't just jump in and get "easy sales" to get their feet wet.
• Committed, long-term oriented agents (seasoned veterans) are taking a much larger share of the market leaving less for new agents.

So, with those factors in mind, this list of 10 mistakes that new agents make regularly should help you stay on track...and make it past the first 24 months of your career. 

1. Don't think that there are multiple ways to start.  There aren't.  Despite everything that I have said about this being a "numbers" game in the past, it is sales.  And sales is a numbers game.  
2. Don't try to "do it differently".  Fast food joints and cell phone kiosks are full of people that thought that they had a better way to go about getting prospects.  If you are not out there talking to as many people as humanly possible about real estate and trying to turn business your way, you will fail.  Lead generation is quite possibly the most work a new agent faces, but one that will lead to the greatest reward in the long run.
3. Don't rely on others for business.  Your manager isn't going to give you clients.  The other agents in your office aren't going to give you clients.  If that were the case, your commissions would be much smaller.  If you want business...go out and get it.
4. Don't fall into the technology spiral.  This job isn't about tasks and technological advantages (although, those help!).  It is about people relationships.  And if you are not out there helping people and talking with people and letting people know what you can do for them, you will be flipping burgers in no time!
5. Don't think that a deal is ever "done".  I had a manager once tell me that the sale isn't over until you are eating the steak that you bought with the money that you got from the bank after the check cleared.  And, my immediate response was, "But, if I want to eat that steak again, shouldn't I keep in contact with that person?"  In this business, the sale is almost never over...because you can sell that person again.  Or get a referral from that person in the future.  Maintain your relationships with your clients and they will monetize in the long run.
6. Don't start off "part-time" without a clear strategy to go "full-time".  That's right.  If you have to start this business part-time, you MUST have a full-time mentality.  This job requires at least 50hrs per week.  If you can not commit to that right away, make sure you have a plan in place that allows for a move to full-time within a specific time frame.  "Part-time" is a disservice to your clients and to your officemates.  Also, Managers - Do not hire someone that is going to go part-time without a firm commitment of a full-time placement.  You are wasting your time, effort, and money without it.
7. Get coaching often and make sure your broker is on the same page that you are on.  If your manager cant commit to helping you be more successful, maybe you are in the wrong office.  (Managers - You're goal should be to ensure that you commit 100% to the success of a new agent.  They need you.  Without you showing them the way, the likelihood of them falling on their faces is 75% in 2 years.  As a manager, a 25% success rate should be infuriating!)
8. Don't base your office choice by the commission structure of the office!  Don't base your decision to work for one office or another on the payment structure of the office.  You need to sell real estate.  In fact, you need to sell LOTS of real estate.  So, choose an office that will allow that to happen.  The money will come as you sell more. 
9. Invest in your business!!  Many agents decide that they cant invest in their business until they "get successful".  When is that going to happen?  How will you compete against all of those other agents that are doing what you are not?  How will anyone find you to work with you?  Why would someone want to work with you if you don't at least appear to be successful?
10. Don't do this if you are "seeing if its right for you".  The last stat I read was that 50% of new agents got into this business to see if it was a good fit for them.  If you are not 100% committed to being a success at this business, you are wasting your time, your manager's time, your broker's time, your client's time, and everyone's money.  As a very wise Jedi Master once said..."Do.  Or do not.  There is no ‘try'".

I realize that some of these words might be a bit harsh...be a bit difficult for some of you to read.  But, they are true.  Your success or failure rides directly on your shoulders.  So, make sure you choose and environment that will help you get where you want to be.  Pick a manager that is committed to your success.  Find people that will tell you the truth - even when you don't want to hear it.  And, develop a plan of attack that requires you, your manager, and your broker to be committed to your success.  If you do that, you might make it beyond that 24 month time frame and have a long, successful career. 

If you would like more information on www.recr.com and how we can help you get more clients to work with, contact Clint Miller at 800-977-7058.  Or, follow me on Twitter at www.twitter.com/recr.

Many of you know that I am from Montana...Born and raised.  I love it here...but, I have noticed that there are a few unalienable truths about living on Montana that just don't quite parallel to other areas of the country.  And, with that in mind, I decided to post this list of things that you will encounter living here...Enjoy!

 If "vacation" to you means going shopping for the weekend in Great Falls, Billings, Missoula or Bozeman (while the kids swim at the Comfort Inn).....You might live in Montana.

If parking your car for the night involves an extension cord......You might live in Montana.  

If you consider it a sport to gather your food by drilling through 8 inches of ice and sitting there all day hoping that the food will swim by.....You might live in Montana.

If you're proud that your state makes the national news primarily because it houses the coldest spot in the nation......You might live in Montana.

If you have ever refused to buy something because it's "too spendy"......You might live in Montana.

If your local Dairy Queen is closed from November through March.....You might live in Montana.

If someone in a store offers you assistance, and they don't work there.......You might live in Montana.

If your dad's suntan stops at a line curving around the middle of his forehead......You might live in Montana

If you have worn shorts and a parka at the same time......You might live in Montana.

If your town has an equal number of bars and churches.......You might live in Montana.

If you know how to correctly pronounce Butte......You might live in Montana

If you measure distance in hours......You might live in Montana .

If your family vehicle is a crew cab pickup.......You might live in Montana.

If you know several people who have hit deer more than once......You might live in Montana.

If you often switch from "heat" to "A/C"in the same day and back again.....You might live in Montana.

If you can drive 65 mph through 2 feet of snow during a raging blizzard, without flinching.....You might live in Montana.

If you see people wearing hunting clothes at social events.....You might live in Montana.

If you've installed security lights on your house and garage and leave both unlocked.....You might live in Montana.

If the largest traffic jam in your town centers around a high school basketball game.......You might live in Montana

If you carry jumper cables in your car and your girlfriend knows how to use them.......You might live in Montana.

If there are 7 empty cars running in the parking lot at Wal-Mart at any given time.......You might live in Montana.

If there are more people at work on Christmas Eve Day than on opening day for deer rifle season......You might live in Montana.

If you design your kid's Halloween costume to fit over a snowsuit.......You might live in Montana.

If driving is better in the winter because the potholes are filled with snow......You might live in Montana.

If you know all 4 seasons: almost winter, winter, still winter and road construction.......You might live in Montana

If you can identify a southern or eastern accent.......You might live in Montana.

If you consider Red Lodge exotic.......You might live in Montana .

If your idea of creative landscaping is a statue of a deer next to your cottonwood......You might live in Montana.

If the sunbelt to you means Miles City.......You might live in Montana.

If a brat is something you eat......You might live in Montana .

If finding your misplaced car keys involves looking in the ignition......You might live in Montana.

If you find 0 degrees a little chilly......You might live in Montana.

If you would like more information about www.recr.com and how we can help you get more clients, please contact Clint Miller at 800-977-7058.  Or, follow me on Twitter at www.twitter.com/recr.