WHY…..are you not knocking and mailing to every door in every neighborhood within your territory?
WHY…..are you not conducting buyer seminars on a weekly basis where you offer free inexpensive food and soft drinks and educate the public on the MANY benefits of buying a home right now including the $8,000.00 tax credit option?
WHY….are you not sponsoring neighborhood events like yard sales and fun fests to engage the community to get to know you better?
WHY…..are you not getting as many leads as physically possible and collecting them in a Contact Management System and following up with them until they buy or die?!
I know why….because for most of you it is easier to come up with excuses as to WHY you are failing as opposed to trying things that can make you successful.
Having dinner last night at Iron Hill Brewery, I ran into a current real estate agent that I had several transactions with during my real estate career. My very first question was “So, how is business” and his exact words were “Great, even in this market” and of course I responded by “well, like I always say all of the good real estate agents are still making money” and he chuckled.
We further discussed how long he as been in the business and he started in 1985 and clearly remembers 18% interest rates so we talked about which market conditions he preferred the 80s or current market conditions. He thought for 1 second and clearly indicated he would take today’s market over the 80s market where he stated….”everything was an installment sale during that time.”
Now I do not remember those market conditions because I was too young and I was doing everything but selling real estate in the 80s. However, throughout my real estate career I was always reminded about those high interest rates and what a crazy and difficult time that was. The fact of the matter is that this is the second agent I have ran into and spoke with since January that has 20+ years as a real estate agent and they both agree that things are going good and they would take this market over the 80s.
Bottom line…..it could always be worse. There are homes still being bought and sold everyday and if you are truly going to make an effort in real estate, stop focusing on how poorly you feel you are doing and find ways to learn from the successful agents and actually do what they teach you.
You do not need to change your lifestyle to give into the economy, you simply need to change your business plan to work more effectively in the current economy. Different market conditions equals the need to change your marketing tactics. You as a real estate agent, a sales person, an employee simply have to understand that we are in a MORE economy and as you and your family are use to a certain income, a certain lifestyle….unless you make changes now that income will lessen and you will have to stop many of the so called “Extra” things in your life.
The easiest way to explain is the 5 = 25 theory, which I came up with during my coaching and sales training over the last 4 months. You have to understand that there is still plenty of business out there you simply need to reach out to more people to attain your expected lifestyle. If in 2005 for every 5 prospects/clients you were working with turned into money that substantiated your income….currently now in 2008 you need a higher number to maintain that same income, so you may need 25 prospects/clients. Some of you may be on a 10 = 50 or a 25 = 100 situation. Regardless of the ratio you get the point that MORE IS NECESSARY. Means more leads, more marketing, more prospecting, more open houses, more networking, more calling your Sphere of Influence, more knocking on FSBOs doors, etc. Let us not forget your income potential is unlimited regardless of market conditions.
Do not allow the Economy to control you…..make sure you are always in control!!
Or should I say what are you NOT THINKING! I am just blown away by the amount real estate agents I am speaking to across this nation that are stopping their marketing efforts in the current MORE ECONOMY. That just makes absolutely no Common Sense unless you are getting out of real estate!?
It is absolutely imperative that you are dedicated to MORE continued marketing, proper/better follow up and additional coaching/education….now, more than ever! Let’s break it down: Interest rates are still at all time lows; FHA has lowered (yet again) the qualification requirements for buyers; There are different tax credits for first time home buyers; homes are still being bought and sold everyday. Everything around you is trying to make it as easy as possible for you to be successful in the current market however, so many of you are not seeing this as incredible opportunity instead you want to bury your head in the sand and wait for the storm to pass.
Those that fight properly through this storm will find incredible success. Many new millionaires will emerge from this current economy…..are you strong enough to be one of them?
Sales Person, Real Estate Agent, Janitor, Cashier, Doctor, Race Car Driver, Attorney, or whatever your career choice….you are the greatest! Or you at least need to think you are!
Daily affirmations to empower your mind in a positive direction will ultimately provide regular successes to build additional confidence for bigger challenges and in turn greater success. Your daily affirmations need to fall in line with your personal and business goals so that you go into each day with the proper mindset. If you are generally negative make it a point to look at the good side of everything, realize that every difficulty is actually opportunity and then hold yourself accountable that your mindset controls your outcome.
Try these general affirmations every morning in front of the mirror and regularly throughout your day as needed:
1. I will be successful!
2. I will NOT allow Negativity to control my destiny!
3. Only I Can Make It Happen!
Good luck with being the Greatest….after all if you do not believe it, nobody else will!!
Many of you will never climb Mount Everest or Scuba Dive along the great barrier reef. Most of you probably will not get your pilots license or ski the Alps (I have and it was awesome). A great number of you will not take the steps necessary to lose that extra 20+ pounds you are carrying around or go out and buy that sports car you have been dreaming about.
These and many other things are not going to happen in your life and not because you can’t do them but simply because you won’t. The won’t is because of you either simply do not want to do it or you simply do not believe you can do it. I am here to tell you that you can….but you gotta want it!!
Many of you will never make a six figure income in real estate or hit $500,000.00 in annual commissions….not because you can’t because you won’t. Most of you will not take the steps to put a solid real estate team and structure together with assistants and buyers agents…..not because you can’t, because you won’t. A great number of you will not take the steps necessary to ensure a strong real estate career by having enough leads/prospects at all times in your pipeline and utilizing a well structured follow up system….not because you can’t, because you won’t.
So, whatever your Mount Everest is make sure you are not climbing it because you absolutely do not want to and not because you think you can’t!!
I truly do not care what the “state of the market” is nor do I care what CNN dictates as a dismal future in the real estate market. What I do care about is the size of my Pipeline! I know that every day houses are being bought and sold!! I must get in contact with as many potential buyers and sellers as possible and putting them into my ProspectMaximizer (CRM) and following up with them through Phone Calls, Visits, Emails and Mailings until they buy, sell or refinance.
In this market I must be adding AT LEAST 4 new prospects to my pipeline for every 1 lost and making sure that they are followed up with automatically and physically so that I can guarantee my 4+ settlements every month. I must use Online Lead Generation as well as Traditional Methods of Lead Generation to ensure that I meet my goal of the biggest Pipeline around. I must tell myself that the only Bogus or Bad lead is the one I do not have and I will do everything in my power to get those leads into my pipeline. I will spend money on Increasing The Size of my Pipeline because I believe in my abilities to turn those leads into clients and then commissions. My pipeline can never be too big if I am using the proper CRM tool and I have the right team of people in place.
So please, do me a favor, make sure the size of your Pipeline measures up to the demands of your goals and your current market conditions so that you can have a long and happy real estate career.
In talking to a FSBO just yesterday, he was not so much intrigued by showing him how I was going to make him more money by going with me and paying my commission (although he was impressed) nor was I able to close him on the mere fact that listing his home with me will bring in better more qualified buyers. His eye brows raised and the head started to nod based on the fact that selling your home on your own and sticking that red and white FSBO sign in the yard opens the doors for anyone to stop by at any time.
He travels quite a bit for his job and his wife stays home with the kids who are both under 8 years of age. After that he told me they sold their Townhouse on their own a few years back without any problems and that is why they are doing it again. I proceeded to explain is it worth the safety of your family? That red and white sign in your front yard is typically an Open Invite to anyone driving by to stop in at anytime of the day and not only knock on your door, but walk around your house, peek in the windows and even bug your neighbors. A lot of these individuals have not even applied for a mortgage and truly have no interest in buying a home. In some cases you could be opening your doors to someone staking out your home for a future burglary. Is it worth it, I continued to ask?
When you list your home with a real estate professional you are automatically providing a much safer and secure means for marketing and selling your home. You will dramatically decrease the chance of drop-ins and nosy window peekers and you will more than not have pre-approved people going through your home.
I then asked, how much is all of that worth? I proceeded to answer it for him as he was truly speechless….It is priceless Mr. FSBO, absolutely priceless!!
It’s our first podcast on video… this is part one of three where Rory Wilfong, Steve Young, Dave Conklin, Marc Hargraves and Mark Boyd discuss ways that agents can successfully follow up with leads that are generated through online avenues, open houses, magazine ads and more.
Too many real estate agents (sales people) still do not get Lead Generation Follow Up yet so I am going to break it down into simple terms so that everyone can understand:
1) You get a lead;
2) You call (talk) the lead right away or leave a message and email the lead;
3) You discover what bits of information you are missing from the lead and you get the information through various obvious places (Google…duh!!);
4) You place all the leads information into your Contact Management (CRM) [Prospect Maximizer] system for regular and automated follow up;
5) You at no point concern yourself with the Leads time frame for doing business for that will allow you the opportunity to falsely accuse the lead of being invalid and since you are not going to only be in real estate for 6 months you can put a lead in your pipeline that has an 18 month window and know they will eventually be your client….trust your abilities and your follow up system;
6) You follow the contact management structure you have established for the lead which includes calling, visiting, emailing, mailing, etc.;
7) You continue following up with the lead until they become a client at which point you can stop referring to them as a lead;
