It's a new year!
Well, its almost a new year...New business plans in the works...new budgets being considered (shoestring, though they may be...). New attitude attributed to a new year.
All good things....
But, none of that will mean diddly if you continue down the same destructive path that a good portion of agents find themselves on currently.
It amazes me on a daily basis how many agents that I deal with actually set themselves up for failure by making simple, yet deadly, mistakes in their business. Some of these mistakes seem to be so simple to overcome. Yet, time and time again, they repeat the same thing expecting a different result. That is the definition of insanity.
So, in the hopes that I can in some small way help YOU avoid making these mistakes, I wanted to summarize an article I found in BrokerAgentPro that lists 5 of the things agents do that hinder their own efforts...and ways to avoid getting caught in these commission killing traps.
Getting ‘Busy Work' confused with actual ‘Work' - Many agents across the country suffer from not having a consistent game plan for their daily activities. There are several things that you should do daily. These include: Lead generation; Contacting prospects that are potential clients; Work and sort out the motivations of existing clients; Negotiate contracts on pending deals; Present findings to your clients. All 5 of those things MUST be done on a daily basis to maintain a consistent level of effort on all aspects of your business. If you are not getting any one of these done, you are attempting to build a business on a weak foundation and you will fail.
Not working a set schedule - Lack of motivation is the biggest cause of not working a set schedule. "I don't feel like it today." Guess what...no one *feels* like it. But, they do it. Successful agents work a set schedule every day whether they ‘feel like it' or not. That set schedule might be any time between 8am and 9pm, but its a schedule none the less. What do you do on days you don't feel like working? See #1 above.
"It's a numbers game" - Well, sort of. But, no, not really. Yes, you need to track your numbers. Yes, those numbers are important. But, in no way will those numbers lead you to making any money! This is a PEOPLE game! If you are not out helping people with or talking to people about real estate, you are doomed to fail. Focus on what you have to offer - your talents and abilities to assist people in buying or selling a house.
Lacking multiple lead streams - That's right. If you do not have multiple streams of leads, you will fail. If your only source of leads is making cold calls, asking for referrals from clients, calling expired listings, etc...You are limiting your ability to get new clients. If you take a day off, you don't make ANY progress. None. What if you lose your phone for a day? What if you lose your voice for a day? No progress. So, having several good lead generation sources is a must in order to keep bringing in new potential clients. Just remember, not every lead will close. But, every lead needs worked. That's what you do!
"Its all about the Benjamins, baby!" - This philosophy will ultimately be your demise in real estate. You should never put earning a commission above your ability to be of service to your client. If you are not out there to help your clients, you will fail. If you don't know how to help your clients, LEARN! The ‘rules' have changed. Make an effort to adapt to those changes and *help* your clients. The money will follow.
Looking to add to your client base? Contact Clint at 800-977-7058 and ask about how he can help you. Or, follow him on Twitter. Dont forget to fan us on Facebook!
Clint, I find it interesting how animals will only make a mistake once, i.e. if they get a slight shock by touching something, they won't make that mistake again. whereas we enlightened humans do keep repeating the same ol' thing over and over... that is, until we read your blog. Thank you!
Great ideas, thanks for sharing! Great BLOG!
Barb -- Precisely! And being the top of the food chain, you would think we would be smart enough to learn. :-)
Wayne -- Thanks! :-)
Hi Clint, Great reminder that it really is all about the people we are able to serve, solve their real estate problems and help grab a piece of the American dream ! Well said !
Bill -- Thank you so much! That was exactly the point. :-)
Clint, Good reminder to get on the ball for 2010. A plan is truly necessary to accomplish anything worthwhile.
Such good advice! We are a service industry. Very well said...hope everyone reads your post.
Susan -- Agreed! I do hope everyone out there is diligently working on business plans and such....and not forgetting to include money for lead generation :-)
S-2-S -- Thank you. Yes, we are! And, Im just glad you did! :-)
Clint, you nailed it, a lot of people confuse busy with prosperity, that is busy being busy instead of busy making money!
Ty
EREB -- Busy work isnt work. Yes, its a task, but it isnt going to help you accomplish your goals. Agreed!
Great post. It always amazes me how busy some agents can keep themselves when they are really accomplishing nothing.
Doug -- Thanks! And, I couldn't agree more!
Clint --- this is a well written post and you are so right on --- "You should never put earning a commission above your ability to be of service to your client. " says it all.
Liz -- Thank you so much!! Im happy you liked that line...one of my favorites Ive written. :-)
read your post, couldn't agree more.
Ann -- read your comment, thanks.
Great post Clint. So happy the system finally cooperated. It would have been a shame to not have this post due to technical difficulties. Thanks for the tweet on Twitter. :)
Lola -- Thanks! yeah, the proxy errors today have been extreme...Im glad I finally got this one on the board. :-)
As per usual you,
1. Hold Nail
2. Grab Hammer
3. Hit squarely on head.
Thanks Clint.
Rick -- Thanks, man! :-)
Clint-
I followed you from folks Tweeting about your Blog...and yes, it really rings true. As a 25+ year veteran of mortgage banking and real estate I am guilty! I now have found myself in a very exciting postion as a Director with Homes for Heroes. I still struggle with keeping my focus though! You should take a look at our program...it is a unique way to create an image and philosophy as an agent and keep yourself sooooooo busy getting the word out and prospecting there is no way not to succeed!
Sandy -- Excellent! Love that you found me via twitter...Love your business concept even more! Very cool sounding....If you would, please send me a link to clintmiller@Recr.com so I can check it out further! thanks!
Rip---how is the day going when you have that in your yard. I guess it could be worse.
shelton
I will send it off! I love Montana by the way, been there many times! I am in MN :_0
TH -- I think that was taken during Halloween. ;-)
Sandy -- Looking forward to it!
This is all so true!
You always have such good sales insight :-)
Tamara
Clint,
Great post. Can't stress "it's a numbers game" enough. Someone wise once told me "success is all about failure. Fail enough times, you'll eventually succeed. If you aren't failing, you're not trying"
Doug
Gotta love numbers. They will get you or bless you every time.
What a great post! Definitely have to fav this one and read it at least once a week!! Its so easy to get off track. Thanks, Clint- have to share this one at my office meeting next week. Thanks for the link!
Even after so many years the basics are still what makes agents successful.
The theme today seems to be that succeeding in real estate takes hard work. Dang! And I thought the tooth fairy was somehow implicated....
Great reminders, Clint. And well-stated as usual.
Tanya in Montreal
Awesome reminders! I sometimes have trouble with the set schedule one...but I am better than I used to be!
These are all great points; I lose my 'schedule'so many times in a day and have to remind myself to get back on track!
Being of service to our clients is what makes the benjamins! Clients can smell it when we are in it for the bucks. They love me when I just focus on their goals and we are both satisfied.
Thanks for the reminders. Hopefully 2010 will be a profitable year for those of us who have worked hard and created a plan for success.
Great list and time to refocus and start on next years plan.
Tamara -- Awww, thanks! :-)
Doug -- Love the failing analogy.
Margaret -- Agreed!
Karen -- No problemo, Karen! I hope the office likes it as much as you do. :-)
Terry -- There is a reason they call them "tried and true" :-)
Tanya -- I have it on my Christmas list....Im relying on Santa.
Vanessa -- yeah, that one is a hard pill to swallow for most..but, its important.
Taylor -- See above statement. :-)
Jennifer -- Exactly!
Weichert -- I shall keep my fingers crossed.
Thanks for the excellent tips. And good luck in 2010!
Dianne -- Those that are not working on a plan for next year already will be in trouble.
Peter -- You are so welcome!! U2!!
Clint, this is a very good post and if I managed agents I'd make sure all of them read it. The fundamentals of selling haven't changed over the years - people have just gotten used to making money without having to do the things that successful salespeople have done
Short and to the point .Good post .
There is knowing and than there knowing and doing !
Clint,
Another great post. I typically skip the "how to fail" headlines, preferring the "how to succeed", but coming from you I knew it had to be good. With all the instantaneous communication streams today, it's easier than ever to get sidetracked and I'm guilty. Thanks again for the reminders!
Mike Giles
you have given me some thought to expand my lead generation from one source to many...numbers game...OMG in 6 mos i have 200 buyers email from my web site and only one closing...how many more numbers do i need
My first broker drilled the idea of busy work vs. working on business... good reminder!
Well said Clint. It is all about our work ethics, treating other colleagues with respect, and our clients. The success follows.
Great post! Yes this is a people game not a numbers game. All of your points are great reminders. And we need those reminders because we are all prone to slip from time to time.
Absolutely right. We keep falling behind what we should be doing everyday. I hope in 2010 I will make sure that I come up with proper game plan. So far it has been good in 2009 but need more. Thanks for reminding.
Great post! It's important to be reminded that it's all about consistency! Thanks Clint!
Clint - you are SO right. And why is it that our dogs are smarter than us?
You said that for success an agent must do the following 5 things every day:
What I found in working with agents for 19 years that once they were busy working on current offers, the first two items on that list got shoved aside for "later." I believe I was even guilty of that myself a few times when I was really busy trying to juggle several closings at once.
But it sure is a mistake. You can work your tail off for a couple of weeks, take a breath, then look around to find that you don't have even one transaction in the works.
When we had to find time to pickup the phone or write an individual letter it really was hard, but now that we have websites, email, and autoresponders, there's no excuse not to take free time to set up systems for lead generation, and for staying in touch with past, present, and FUTURE clients.
I've got 2 letter sets available for agents to use in maintaing contact with FSBO and Expired leads, and I'm working on more - because many of my clients just don't have the time or the desire to write those letters themselves.
But whether you buy pre-written sets or create them yourself, letters loaded into an autoresponder to go out to prospects when you're busy can save you from that dreaded "dead time."
For those who use postal mail, the letters can all be printed ahead of time, inserted into the envelopes, stamped, and marked for the day to drop them in the mail. Even if you're rushing out to meet a client, you can always take 10 seconds to pick up an envelope and drop it in the outgoing pile.
I also think agents should use any spare time they have to pre-write the ads that go into print media - because the ads written at the last minute tend to be SO lame. Staying ready ahead of deadlines is also a whole lot easier on your nervous system!
This post is essential reading for all newbies and for some of us who have been in the business many years and have forgotten the basics. Thanks for the reminder!
This is a solid foundation on which to build a business plan, Clint. The road to success is marked by discipline and accountability.
Good article and things to keep in mind as I gear up for next year. Thanks for the input.
Discipline is so key to this business. It's so easy to just wait for the next email to come through or wait for the phone to ring. If you aren't disciplined to do the things you need to do vs just what is easy to do, you are destined to either fail or be extremely mediocre.
Nice points on the traps. Everyone should be getting there business plan together for next year.
Nice post Clint. And it comes at a good time! Lots for me to think about in my planning ahead.
Thanks so much!
Thanks for the post. Good timing as I've been thinking about what I'm going to do 'differently' this year! Thanks for the motivation to get started.
I think Marte summed it up best. Your points are dead on, but it does become difficult to do all of #1 at the same time, especially when you are working on pending deals. But putting a system in place is key to accomplishing all of the above.
It is so easy to get buried in the busy work - thanks for the reminder to set goals and be proactive.
I always thought that when one repeats, "the same thing expecting a different result" that was the definition of futility!
Great post! I'm going to bookmark and try to remember to check back when i"m getting off track.
The lack of structure and direction that's so prevalent in many agent's day-to-day routines is astounding, and then they complain about how unpredictable the business is. How can your business be predictable or reliable if your day-to-day productivity is unpredictable and unreliable?
That's good advice Clint and a road map to a successful career in real estate.
Great points of what not to do...I totally agree that you need a schedule and follow it..every day.
I am sorry for not being able to write back to you all sooner and individually....I had carpal tunnel surgery on Wednesday and am just now starting to get back into things. Typing is still a challenge, however. :-)
Thank you all for the wonderful comments and thoughts. You guys rawk!
Great post Clint...and so true. Isn't the definition of crazy doing the same thing over and over and expecting different results? I'm going to try and not be crazy in 2010 :) Thanks for posting! -Amanda
This is good advice, Clint. The question is: how do you make real estate agents work for themselves like they would for someone else?!
To all posts:
I am so happy that I found this post. My husband and I were laid off August 2009. He is in IT so he found a job ASAP, but I wanted to go in a different direction in my career, which is real estate. When I tell people that I'm venturing in to this new career choice they always say "I think you will be really good at it." So, thank you all for posting such great advice on how to be a great success in the real estate world! I was already motivated, but I'm even more motivated now! Thanks so much :)
Darby -- I wish you the best of luck, Darby! If I can do anything to help...just ask. ;-)