I talked with an agent the other day who was excited to tell me that her business is flourishing, that this year is one of her best ever. How is she doing it? Mental toughness, knowledge of the industry, and always doing the basics. She knows, and practices the seven key steps to surviving and thriving in this market.
To be ready for everything, to benefit from the worst markets as well as from the best, start here:
The first key is to create a schedule. It should encompass your whole life, factoring in your personal life to create balance. Schedule blocks of time to prospect, qualify buyers and sellers, negotiate contracts, return phone calls, make listing presentations, and show property. Be sure to include time off so you can stay focused and sharp when you’re working. During that time, don’t answer phone or make business calls. And each week, your schedule should include two days off.
The second key is to prospect daily. You get to pick your prospecting method, but you must do something daily to bring in the business. You can prospect on the phone or in person. You can prospect expireds, FSBOs, make cold calls, or ask for referrals from your past clients. The list is limited only by your imagination. The truth is, if you are not spending a minimum of one hour everyday prospecting for new business, you will eventually have difficulty reaching your goals.
The third key is to qualify your potential clients. This means taking the time to make sure that potential clients are truly motivated—both financially and emotionally.. It may help to think of yourself as a doctor with a specialty. People come to you for treatment, but you can ethically treat only those whose condition falls within your specialty; everyone else gets referred elsewhere. As a real estate agent, you can specialize exclusively in qualified clients. Learn to ask questions, qualify every lead, and practice being direct. You are in control.
The fourth key is to understand your business. Look at how you’re spending your time. What are your top four income-producing activities? Which of them is generating the most income? If you’re spending half of your time sitting behind the computer, but only generating ten percent of your income from those efforts, maybe it’s time to recalculate your schedule. Understanding your business means knowing—and being able to describe—what you do, the benefits of your services, and where your income is coming from. If you can’t do those things, you probably aren’t earning to capacity.
The fifth key is to develop a philosophy. You may think of it as a mission statement, or ethical guidelines, or your specialty. Perhaps it’s all three. But whatever you call it, you need to define your segment of the market. What’s unique about you and your service? What separates you from everyone else who wants the same slice of the pie? Just like qualifying your clients and understanding your business, defining your philosophy helps to confirm that your business is on track.
The sixth key is attitude. Someone I know recently told me that she had “fired” one of her friends because she realized that this person had turned into a chronic complainer. As a person and as a sales professional, you need to give yourself a regular attitude check. Do you smile when you greet people? Do you make eye contact? Do you show your appreciation? Do you listen when people talk? Successful business is based on trust, and trust is based in part on people’s perception of your attitude. Make sure you’re sending the right message.
The seventh key is attraction. Does it seem like some people have all the “luck”? Well, guess what? Those people are Incredibly Attractive—and we’re not talking about physical glamour. The idea of attraction is based on the principle that like attracts like. If you’re uncertain what kind of person you are, look around. Who and what have you attracted? Don’t like what you see? You can change it. When your thoughts and feelings are aligned, you are attractive. Attraction has to do with being very present in the here-and-now. It has to do with generosity of spirit and being the very best at what you do. When you focus on doing what you love, you’ll get better and better at it. You’ll have more energy and be able to accomplish more in less time.
If you take the time to pay attention to these seven key steps, your business will improve in all markets, your life will be more balanced, and you’ll find it easier to reach goals you thought impossible. You’re in complete control.
Coach Patti
Patti Kouri, Accelerated Performance Coaching
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Patti - great post! So true that this is a market that requires these 7 keys to survive. I think attitude is so important right now as many people are full of scarcity and fear.
So many of us forget to schedule and I believe it is so important. Thanks for helping us to stay on tract. It is always good to go over good real estate techniques.
Patti thanks for the breakdown. Im going to print this and post it on my office wall to remember everyday.
Great reminder Patti. I think #4 is really important. Where you make your money is where you should be spending your time. And attitude is always important, in everything. Thanks!
Thanks for stopping by. I'm glad you liked this blog. I find these keys become easier to adhere to when we have high standards and strong boundaries around our business, schedule and life.
Keep this in mind. This market will also pass. The agents that will come thru it and out on top without too many bruises, are the ones that will follow these keys.
No one walks a straight line all the time. If you fall off, just get back up. It's not about falling down, it is how fast you get yourself back up.
Good luck! Coach Patti
I also enjoyed your blog Patti. Now I know I am on the right track.
Great post Patti - thanks for sharing!
Thanks Patti, and congratulations. I just wanted to stop by and say thanks for all of your encouraging and inspirational post. This one is helping me to get back to basics and do what it takes for my business. I have really been slack in all of the areas that you mentioned. Thanks for putting a sister back on track. God bless you and your endeavors.
So many good ideas! Prospecting is my weak area. I don't have a good system for getting good numbers. I've got to figure out how to improve this aspect of my work so my business grows.