October 19, 2016 by Jeff Lowen
In the world of real estate, so many agents run into the obstacle of actually making more money than they are spending. As with any business endeavor, it takes a little cash flow to start and stay up and running.
What this means for their clientele, is that the agent you’re in the middle of a transaction with is caught in the emotional dysfunction of getting a paycheck and paying their bills (and having food with their meals), VS. doing the very best for you, even if it means the best decision for you is to walk away from the deal. Within the confines of the contract, of course. It’s a tough scenario. Much more common than most people think, though
1. What does ‘right now business’ mean? How can you, as a new or even seasoned agent, get something in the hopper when your coffers are bare? It all starts with your head.
- Mindset. Yes, we’ve heard it all before. Yet, it’s something that gets dismissed more often than not. What bounces around in that 6″ between your ears is MOST important. What do you find yourself focusing on during your workday? Are you actively thinking about how you are becoming an amazing, lead converting machine, or are your bills, the lack of potential deals and the 10,000 other agents out there that you think you’re in competition with, occupying your head? Check it out:
- See it. Imagine it. Feel it. Reciting affirmations is great but in order to realize your dreams you have to be them. More than visualizing, deeply feel how you would if you were that person now. Anchor and embrace the emotion you feel to your goals and dreams and allow it to consume you.
- But wait! I’m realistic… Yeah, sorry about your luck. When you snap out of it and realize that what you are thinking is what you become, you’ll get that thinking realistic means more realistic in your life.
- Energy flows where your attention goes!
2. If you can’t or won’t give your mindset attention, then the rest of this or anything else for that matter won’t make a difference. You have to believe it FIRST, then you’ll see it become real right before your eyes. Which brings me to my next point…
- Practice your skills. In the world of, um… Anything, there are words that we say and buzz phrases we tell over and over again. Did you read it off a page? Maybe. Maybe not. The point is, if you’re going to have a purposeful and fulfilling conversation, you’ll need to have a dialogue in place that you can recite without thinking of what you’re going to say next.
- We call that scripts and dialogues in the real estate sales world. Learn them. You work with buyers, sellers, and prospects to buy or sell. You don’t have to memorize an encyclopedia to do that, either. It’s not rocket science, so if you don’t know what or how to ask the right questions, you better be practicing a couple hours each workday until you do.
- Repeat after me: “The best salespeople ask the questions that get their prospects and clients to sell themselves.” You’re not going to force fit a round peg into a square hole. You ARE going to help someone determine the best course of action for them, and YOU are going to be the one that helps them.
- Let’s face it, real estate agents that are good at getting autographs are mega successful. If you blow off your scripts, negotiating, and people skills thinking you need to know about real estate first, then I’ll wave as I drive by you standing in line at the soup kitchen.
3. Now that you’ve got your head right and you’re a script and skill practicing machine, it’s time for the strategy.
- Talk to people. Real estate, as all sales gigs are contact sports. If you want to sit behind a computer all day polishing your facebook page or your brochures and business cards, you won’t have to wait before you’re looking for a new job with a boss that’s not you. Get out and talk with everyone you meet. The world should know who you are. Get on the phone. Knock on some doors. To have a successful business, the three magic words are exposure, exposure, exposure. No, this doesn’t mean you can satisfy this by posting on social media alone.
- Wherever you think leads come from – and no, they don’t just drop out of the sky, or magically appear in your inbox – you’ll have to have a live conversation with them at some point.
- Call or visit the people you know – Your circle of friends and influence. Remind them you’re enthusiastic about your career and want to be the resource they think of when it anything home related.
- Come from a place of contribution. Ask yourself, “What can I do to help you?”
- A note on social media: It’s a great tool for keeping in touch with people you’ve met. Period. Yes, you can advertise and sometimes it can be successful but aren’t we talking about RIGHT NOW money?
- Go after the low hanging fruit. Expired & canceled listings (new and old), FSBOs, landlords in eviction proceedings, open houses (anyone’s), if your office makes you pull desk duty, volunteer for more time. Most agents will gladly let you pull theirs.
- Pick one and master it BEFORE you go on to the next. Just because it gets frustrating or tiresome, that’s only evidence that you’re growing and getting better at it. Leave now for something new and dive into the ‘jack of all trades master of none’ thing. Which proves little results. Become the best Jedi master at whatever you choose.
- Expired and canceled listings. If you don’t have the stomach for this type of lead generation, no worries. The 20 agents that are calling them today, won’t be at all in 3 weeks. So dig up some older ones that are still off the market and the sellers will actually like to talk to you about it.
- FSBOs. Even though statistics show most list with an agent within the month, homeowners that are attempting such a feat, are usually doing so because they don’t think agents are worth it. It takes time, one week or five weeks, the agent that follows up regularly and offers value during the process will win the listing. Become the king or queen of follow-up. Read this.
- Landlords in eviction. This used to be a fav of mine. It takes a little legwork, though. Going down to the courthouse and researching the General District Court records, or whatever your jurisdiction calls them, will uncover landlords with problems. You solve problems like this, don’t you? Not everyone loves being a landlord and many have stories that a nice sale would have solved.
- Open houses. Here, I could on for days… Read this if you’re interested in how to make an open house really work.
- At the very least, you’ll need to get great at uncovering what someone wants and needs and connecting with them so that they can trust you enough to hear what you might diagnose.
Here’s the formula: H+S+S=S. Head + Skills + Strategy = Success
Two final points. One, if you want to know more about how you can generate Right Now Business, click here and I’ll help. Free for half an hour. Two, it’s a must you learn to master your craft. Otherwise, why would someone want or even need you? Because you have a license? C’mon… There’s so much noise out there from the web, other agents, news sources, you name it, that you have to rise above it. How? Go here.
Whatever you do, get good at it, or get out of it. Meandering just cost you money and the industry’s integrity.