Agents… Do You Have A Financial Plan?

agents have a financial planMaking money requires having an action plan.

Keeping money requires knowing how to set financial goals.

Let’s be real…

The reason why thousands of real estate agents got into the business was they want to make more money. And that’s why one of the things I am sharing is how to set financial goals. “I want to make more money” is not a goal; it’s a half-assed statement that’s going to keep your intentions vague and your bank account on the line of “safe.”

Do you want “safe” or do you want “comfortable and secure?” The sad fact is that 80% of all people will end up flat-broke when it comes time to retire. That doesn’t have to be you. That’s why in this week’s blog, I’ll show you just a bit of the type of information about how to set financial goals and put practices in place to achieve them. Once you know what you’re aiming for, you’re no longer shooting in the dark. So let’s dive right in and shed some light on your finances.

How to Set Financial Goals, Step 1: Find Your Cost of Living.

This one is very simple, but unfortunately, few real estate agents take the time to do this. All you have to do is add up the total costs of everything it takes to run your life:

Rent/mortgage + utilities

Marketing and business expenses

Car payment

Food and medications

Fun and entertainment

Taxes

Savings

Add up any payments or regular expenses you can think of, then tack on an extra $1,000 because who knows what could happen in life. You could get sick, or your car could break down or you could end up spending a little too much on dinner. This is your Survival Goal. It’s what you need to make consistently every single month just to stay above water. It will not give you a better life and it will not allow you to ever retire.

How to Set Financial Goals, Step 2: Your Good Life + Dream Goals (Phase 1)

Let’s take it up a step. What would it look like if you were closing a few more deals and living a realistically better life? Think about that next-step-up home you want to own. How much does it cost? What about a more desirable car? What would your vacations look like? Get in a relaxed mode and visualize it. Then get on the computer and look up the actual prices. Add them up. Do everything the same as you did with finding your survival goal, then tack on an additional $3,000. This is your Good Life Goal. Now take it even a step further. If everything went perfectly for you in the next 12 months and the money was flowing in, what would your business look like? How much would you be spending on marketing with all your new lead gen sources? Where would you be living? This is your dream life, and once you know how much it costs, you have your Dream Goal.

How to Set Financial Goals, Step 3: Adjust for the Future.

It’d be so nice and easy if we could just stop at step 2 and live in dreamland, wouldn’t it? Unfortunately, that’s how you become a member of the 80% of agents who will be working until they die. What you need to do now is find the REAL numbers it will take to live those life goals now and in the future. Do a 10-year forecast of your life, imagining that at the end of these 10 years, you’re going to step away from your business and just live. Write down all three goals, then multiply each by 12 (to bring them to a yearly amount), then multiply them by 10 (for ten years). Let’s say your Good Life Goal is $125,000 a year. Over 10 years, that means you’ll have made $1,250,000. Now let’s start cutting this down.

35% goes to taxes
25% to running your business
25% to running your home
Leaving 15% that you either saved or invested
Going by this, at the end of 10 years, you can now comfortably live your same lifestyle for a remarkable ONE YEAR and some months! Pretty scary huh? That’s why you need to start thinking about these things now. This step is not over until you find a 10-year number that you’re comfortable with. You either need to start cutting down on some of the expenses or raise the number entirely.

How to Set Financial Goals, Step 4: Choose Your Who and Why.

I’m not perfect; I’m human, just like everyone else. And that means I’ve found that I’m capable of breaking the promises that I make to myself. But what I’ve also noticed is that I NEVER break a promise that I make to others – especially those I care about. Most people won’t tirelessly grind day-in and day-out just for themselves, but they will do it for their spouse, their kids, their parents, or their coach. You need accountability. I need accountability. We all need it. It’s the cornerstone of greatness. Find yours. Don’t skip this step.

How to Set Financial Goals, Step 5: Decide Where Your Money Will Flow.

We’ve already talked about breaking your money down into categories. If all that money stays in one account, then those are just invisible boxes that will stay in your head and soon fade away to nothing. I sincerely hope that you’re not depositing your checks into a personal checking account. If you are, stop that now and open a business account. I’m not your financial advisor, so the type of account you choose to open is between you and them. But once you have that business account open, you need to start opening a few more accounts and moving the money appropriately right away into each:

Tax account
Home account
Fun account
Savings account
Investment account (Don’t make the mistake of not buying enough of your own product)
Business expenses account

How to Set Financial Goals, Step 6: Make a Commitment.

You’ve decided what you want, refined it, chosen a strategy to get you there, set up accountability, and put your banking system in order. Now I want you to make a written and verbal promise to those holding you accountable that says you will follow this plan and achieve these goals by doing everything you possibly can. It’s time to become the best possible version of yourself because now your ass is on the line.

Strength and courage,
Wade

Realtors© How To Stop That Stinkin’ Thinkin’ In 2023.

realtors stop stinking thinking in 2023“We become what we think about most of the time, and that’s the strangest secret.”

To an extent, we were all just going to do what we’re all going to do, and isn’t that such an enormous relief? After all, most of the time, we work with what we have to work with, we gravitate towards the things that make us happy, we source ideas and inspiration that are wholly unique and individual to us, and most of those processes are not even necessarily conscious, let alone active. People emerge from the womb a blank slate and fill the space with the things they’re naturally interested in. However, to be successful with what you want takes something behind active measures: you have to know yourself, make a practice out of your dreams, angle yourself towards the “You” who has always dwelled in your mind, and work hard at being Your Best Self. But the rest? Just keep dreaming. Earl Nightingale (1921-1989) | American author & radio personality

Top 10 Thoughts To Eliminate As a REALTOR and in Your Personal Life.

1. Defeatist – a person who is accepting, expecting, or being resigned to defeat. Often linked to pessimism in psychology. How many of us have thought about defeat before we have even begun?

2. Cynical – a person who believes people are motivated by self-interest. They are distrustful of human nature and motives. How many of us question others sincerity and integrity.

3. Vindictive – a person who has or shows a strong and unreasoning desire for revenge. Have you ever met someone that is always out to get back at someone else?

4. Blame/Fault – a person who assigns responsibility to someone or something else. How many of us are the “who cares?” “what are we going to do now?” type of people.

5. Wishful – a person who expresses the desire or hope of something to happen even though it is not happening. They do what they can to influence the project, situation, deal and just keep moving.

6. Self-pity – an excessive, self-absorbed unhappiness over your own troubles. Have you met someone that needs to get over themselves … stop making excuses … no more drama or complaints?

7. Worrisome – a person who is full of anxiety and concern. Worrying won’t help, costs you time, and can drag you and others down.

8. Jealous – a person feeling or showing envy of someone or their achievements and advantages. If you want that achievement, then earn it!

9. Pre-argumentative – a person who builds their own imaginary argument and prepares themselves for the argument that may never happen. Imagine the energy and time we waste doing this?

10. Procrastinate – a person who always delays or postpones action and puts off doing something. If you’re going to procrastinate, it makes sense to do something fun instead of thinking about how bad it is you’re procrastinating.

Eliminating these thoughts might be impossible but minimizing them (and their impact) is completely doable. Here is the approach to eliminating these wasteful thoughts…

• Recognize them when they come up.

• Remind yourself they’re a costly distraction.

• Redirect your thinking (and/or doing) to something positive.

Embrace the simplicity by staying inspired and remember these are not our own thoughts, we just have friends with these kinds of wasteful thoughts 😉

Strength and courage,
Wade

Calling All Agents. What’s Your Plan For The Rest Of 2023?

agents plan rest 2023I don’t know about you but the first 6 months of the year and then my summer seemed to just fly by, and I cannot believe it is September 2023 already. The landscape of real estate looks a lot different now for a lot of us and I am sure we are all asking the question to ourselves, NOW WHAT?

We are beginning the last quarter of the year and for real estate sales professionals there are only two outcomes for us all. Will you finish in the red, or finish in the black? Will you finish strong, or will you miss your targets and goals? Winning near the end of a game, final quarter or the year is a trait of all the best salespeople I’ve ever met.

Closing out strong is primarily the effect of a consistent quarter, there are still a handful of things you can do to strike off checkboxes in the win column to finish Q4 and your 2023 strong.

1. Be Active – There’s no substitute for being pleasantly persistent and respectfully blunt. Get out there and be straightforward. Acting and getting after it is a choice and work on the high-quality leads and not the low-quality leads. Ask yourself “If you were me, would you forecast this listing or buyer prospect to buy or sell this month or in the next 90 days?” Remember, the shortest distance between two points is a straight line. Being direct will help you get real with your buying and selling customers and align yourself with the true sales cycle. It might also enable you to pull out a quick win.

2. Be Relational – For more than two decades now I have heard from thousands of top producing agents and almost 60% of their business comes from repeat and referral business. Focusing first on the people we already know, like and trust is working effectively and efficiently in this business. If you don’t have enough people that know, like and trust you then get out there and “S.T.P. – See the People” If you have a list of relationships in place that have not “felt the love” then get out there and see them and find ways to add value to them. Give them a call, email, text, handwritten note, small gift or even a coffee and just watch and see what happens with your last quarter.

3. Be Face to Face – Sales is a contact sport, and we need to be belly to belly. Anyone of us making a large buying decision needs to know the person we deal with is someone we like and can trust. The only way we can sense if we like or trust someone is meeting them in person. Commit to the final quarter on sales activities that are primarily face to face and belly to belly activities like Open house, door to door, kiosk, networking, office duty, coffee, lunch, pop by, volunteer, client appreciation event or convention. This is a relationships business so get out there to create and deepen those relationships.

4. Stack-Rank Your Leads – We will never be able to manufacture more time, but we can manufacture more focus. I recommend looking at your pipeline and grading each opportunity on a scale of 1-4 with 4 being “highly closeable by the end of the quarter.” Then, focus your closing efforts on the 3’s and 4’s ONLY. You don’t have time to waste. If you don’t have enough 3 and 4 prospects in the funnel then act and increase your marketing plan and daily prospecting, lead generation with planned marketing, activities that bring the level 3 and 4 prospects into your pipeline to finish Q3 strong.

5. Purge Your People – Almost every sales pro has them. They’re those big opportunities in the pipeline you’ve been working for months. The one deal that constantly disrupts your focus or the need to act. The buyer or seller who is the time and energy vampire, but you let them suck the life out of you because you don’t have anyone else to work with. Every time you think about punting them, you get a glimmer of hope from them. It’s time……Remove them!! They don’t deserve to be on your radar right now. Coming clean with yourself will open new vistas and invigorate you to add more productive opportunities to your pipeline.

6. Start Planning for 2024 – How much revenue do you plan to book in Q1 2024? Exactly how many new deals do you need to earn that amount? Knowing exactly what you plan to earn acts like a magnet to attract business your way. Having this exact number also allows you to project your required activities into month one of the new quarters. If you’re accurately measuring your deal metrics, you’ll be able to predict with some certainty how many calls, emails, appointments, presentations, or opportunities you’ll need to make it rain. Ask for a review by management. Knowing your numbers is one thing, but to positively affect the business, it’s equally vital to understand your “why”, purpose and goals and have someone hold you accountable to them.

Bonus Tips: What NOT to Do in the last Quarter Of 2023

1. Don’t Work with Any Clients Just to Make your Numbers – Any client outside of your ideal customer profile will complicate servicing, produce a higher likelihood of churn or failure, and ultimately cost you more time and resources than it will be worth. Instead, focus on filling the pipeline with high quality leads for next quarter. It’s never too early to start filling the funnel.

2. Never Give Away More Than You Should – It’s just not worth it. You only have one reputation for your brand and offering, treat it respectfully. Concessions can quickly become a crutch that hides other issues. Sell on value, not on price. Don’t cut your commissions, offer cash backs or any other silly incentives just to get something before the year is done.

The key to closing out your quarter strong is to keep up the momentum that got you to where you are now. If you’re struggling to meet your numbers, it’s a time to embrace new sales insights and start building effective rhythm. Take the last-minute shots on goal listed above but remember to always be thinking about the bigger picture: Your reputation is the product of your past actions. Sales that allow you to produce predictable revenue are the future. Finish the last quarter and your year strong. I dare you!!

Strength and courage,
Wade

Agents Take The Time Off & Stop Working Remotely

Agents take time off stop working remotelyWell, it is the final week of summer and August 2023. Are you like me and tired of never really taking a vacation from real estate or more importantly, is your family and friends tired of going on vacation with you because you’re working remotely? Now be honest, did you take a vacation this summer and sit on your phone or tablet, texting or emailing while the rest of your family sat by the pool and enjoyed the waves crashing on the beach while you were working remotely the whole time? Is that what a vacation for real estate agents is supposed to look like?

Is there something very wrong with our mindset and business set up that can’t allow us to vacation 3 or 4 weeks a year and not have to work remotely? What would a vacation be like with no mobile devices, no internet connection and cell phone reception completely unplugged and off the real estate grid? What about to be in the moment and present with the most important people in your life? I need you to believe this is possible and here are some strategies that can make this type of vacation as a real estate agent a reality!!

  • Have a business plan with 3-4 weeks a year vacation planned.
  • Have a licensed real estate professional covering your vacation times for you.
  • Emails forwarded to a licensed real estate professional who responds to them on your behalf
  • Auto Email responder set up explaining you are not available and who to contact if important.
  • Voice message on mobile explaining you are not available and who to contact if important.
  • Give your mobile device to the agent covering to answer and respond to your calls, texts, voice messages and pages on your behalf.
  • Partner with another agent and cover for them and their business for 3-4 weeks a year.
  • Choose to unplug and not bring your smart phone, tablet or laptop computers on your vacation and leave them to the covering agent.
  • Compensate the covering agent in some way whether it’s a gift, thank you dinner or a referral fee. I believe we all need to show appreciation and feel appreciated.
  • Leave detailed notes of all your listings, names, phone numbers, emails, sales, leads, etc. for the covering agent to manage your business better for you.

If it is meant to be then it is up to me!

Choose to be on vacation and enjoy it, especially when you are spending your hard-earned money to create those moments, experiences, and memories with the most important people in your life that will last a lifetime. Be present in the moment and really relax and enjoy your time away and reload and re-energize to be able to come back and do amazing things in your business.

 

Strength and courage,
Wade

An Agent Edge For Winning The Listing Prior To The Appointment.

agents edge winning listing prior to appointmentWant an edge for winning the listing prior to the appointment?

Does it make sense to show sellers how you go above and beyond even before you meet? Would you care to learn a small sampling of what will set you apart from the competition? So many real estate agents today are missing the greatest tool for creating a raving fan and telling your story… It’s called the Pre Seller-Package!

So, Wade why would you implement this type of program into your business? I thought you’d never ask… Here are 6 benefits:

  • Makes the listing appointment easier.
  • Makes getting the signature easier (this alone should be worth it)
  • Builds your credibility as a realtor quicker.
  • Builds the rapport earlier.
  • Qualifies the client earlier than later.
  • Creates a lingering experience for the seller before you meet.

I love the idea of sending the prelisting package via courier, with your assistant or better yet, deliver it by hand yourself to the seller prior to your listing appointment and WOWing and awing them before your actual listing appointment. Who doesn’t like surprises at their door? Most realtors struggle with what they put in the package. AND… How should the package be presented? Here are some ideas to help you get started.

1.) Biography… Info on you
2.) Resume
3.) Info/stats on you and your company track record
4.) Samples of your marketing plan – all things you do
5.) Personal handwritten note or letter
6.) Testimonials
7.) Statistics and Reports
8.) Personal Guarantee – easy out listing agreement.
9.) Checklists
10.) Step-by-step process for listing with you and your company
11.) DVD’s – by trainer David Knox “How to Choose an Agent” “Preparing Your Home to Sell” “Pricing Your Home to Sell.”
12.) Popcorn and Pop (why not?)
13.) You can then package all this up into a gift basket or place all the items in a nice, branded vinyl envelope. Create a branded gift box or my personal favorite is Jack Cotton’s prelisting hard cover bound book with glossy paper, which is just first class. I recommend something that will impress your potential client upon arrival.

What do you think this type of package would do to your closing ratio for listing appointments? Or what would it do to your advocacy and sharing with others why they would choose you and your service? I challenge you… Dare to be different and rise above the competition without even saying a word.

Strength and courage,
Wade

Building Connections and Overcoming the Loneliness Barrier in Real Estate

 

“We are in an epidemic of loneliness.”
– Dr. Vivek Murtly, U.S. Surgeon General, May 2023

(Thank-you Suze Cumming for this week’s guest post)

Real Estate feels more challenging than it has in the 38 years since I began my career in sales. Over the past few weeks, I have reached out to many brokers, managers and team leaders to inquire about what they are experiencing. The ones I spoke to all related to me that many of their agents were struggling with mental health challenges.

With this information in hand, I began researching what other industries and research organizations are learning about mental health post-pandemic, and it does indeed seem like we have an epidemic of loneliness.

In this article, we will look at the symptoms and causes first, but please read through to the solutions. Whether you want to help yourself or help people around you, this could have a valuable impact.

The reported effects of loneliness are significant: low motivation, low drive, depression, impaired immune system, cognitive decline and premature death. In fact, America’s Surgeon General states that the effect of loneliness on our health is comparable to smoking 15 cigarettes a day.

So, what’s going on?

Loneliness isn’t about a people deficit; it’s about a connection deficit. While people were already lonely before the pandemic, the social isolation during the lockdown and many of our new ways of operating have greatly exasperated the situation.

Working from home, the loss of community spaces, our discomfort with social situations, social media addiction, and increased travel costs are all limiting our human interaction and social connection.

“Many of my agents haven’t been able to return home to see their close family in over three years,” says Stefanie Hostetter, CEO at Re/Max Sea to Sky in Whistler, B.C. Many of her agents come from far away, as Whistler is a destination market. Hostetter hails from New York, and she hasn’t been back to visit yet. Travel restrictions during the pandemic and our changed habits around travel have greatly reduced the amount of time that we spend visiting family and close friends.

She notes, “Some people haven’t been able to celebrate new babies or mourn the death of loved ones.” Travelling both abroad and within Canada can be stressful and expensive as the travel industry struggles to find balance.

“I run coaching and training sessions live in person at my brokerage, and only a tiny fraction of my agents show up,” says Wade Webb, broker/owner of Royal Lepage Kelowna Lake Country. Webb is a very sought-after, high-level coach and best-selling author, so this lack of engagement speaks volumes about his agents’ state of mind.

Structural barriers, financial insecurity, previous health or mental health challenges and life events can cause the loss of social connection. Those of us contending with loneliness have unique experiences and can’t all be solved the same way, but I have laid out some of the things that may help you reconnect with people and build community (which are both key skills for real estate success):

  • Answer your phone instead of letting it go to voicemail. You never know when something delightful might happen.
  • Join a local community of people. Think sports, workouts, hobbies, spiritual, charity, volunteer, chamber of commerce, meet-ups, etc. There are unlimited possibilities.
  • Call a friend or acquaintance instead of messaging them. They may also need the connection.
  • Say yes to social opportunities even if you initially feel hesitant.
  • Limit your social media time. Research confirms that most social media increases our social anxiety.
  • Go to the office. Create a comfortable shared space at the office where colleagues can visit, collaborate and co-work. I borrowed this idea from the tech industry as they work creatively to get employees to want to come back to the office and collaborate with each other.
  • Create a mastermind or support group with colleagues in your area and meet in person. Be sure to pick like-minded, positive-thinking people.
  • Organize an office event. Consider a fundraiser, outdoor adventure, swimming party or summer BBQ.
  • Improve your teleconferencing (zoom) skills. Be more natural, create casual time before or after a meeting, and invite others to connect after the meeting one on one.

What are other some other opportunities to connect and build community with people? Please share your ideas in the comments. 

If you or someone you know is unable to work through the loneliness or is suffering from significant social anxiety, professional support may be beneficial. Seeking this support is extremely common in our modern society and is a sign of strength and courage.  

Strength and courage,

Suze Cumming / Wade

No Real Estate Inventory, Not A Problem, Strategies For 2023

real estate inventory strategiesResilient buyer agents can almost always find homes for their buyers even in market areas where the listing inventory is as scarce as the Arizona water supply. Agents are wise to hone their skills because the housing inventory shortage will continue to hamper many market areas for a few more years. So here are some the of seller hunting secrets that you as a buyer agent can implement and hone in the balance of 2023.

10 Seller Hunting Secrets for Agents

1.) Knock On Doors – Specifically knock on doors in neighborhoods and areas where your qualified buyer would seriously consider buying and ask the seller to help you help these people find a home. If they are not home, then leave a letter describing who the buyers are and humanize them and ask them again to help you help these nice people find their new dream home.

2.) Direct Mail – Specifically find homes or properties where your qualified buyer would consider buying if the seller would sell and do a search on the property and write a formal professional business letter to the registered owners on title describing your buyers and asking if they considered selling now or soon.

3.) Back Ups – Search pending sale listings and approach the listing agents to consider taking a back-up offer from your qualified buyers. You just never know if a buyer gets cold feet or issues arise that may open the door for you and your buyer to slide in from behind. I always as a strategy write my back up offer asking the seller and listing agent not to disclose to the first buyer, they have a back-up offer, grant the first buyer no extensions on their condition removal times or renegotiation of their price allowing our offer to slide in from behind if they did.

4.) Real Story, Real Situation – Telling and writing to the sellers all about your buyers with their first names, where they are originally from, what they do for a living, if they have kids or pets really helps with the process. Let the sellers know why they want to live where they do and try to capture the real true story of your buyer and their reasons for wanting to buy where they do.

5.) Build Your Own Off Market MLS – Using seller “What’s My Home Worth?” “Home Equity Analysis” landing pages (a one page website that offers to provide the seller an evaluation in exchange for their name, email and property address) is a great opportunity to create an inventory of potential off market seller leads which in turn allows you to take a list of bona fide and highly qualified buyers to approach these seller leads and try to bridge the gap between the potential seller and the eager buyer.

6.) For Sale By Owner – Always look at the for sale by owner ads online and offline for potential homes for your qualified buyers and approach the “by owner” on behalf of your buyer to generate a sale. We always hear the seller say, “well if you have a buyer, we could talk.”

7.) Expired Listings – You should always be checking the inventory that did not sell in the past and be looking to see if any of this inventory could potentially work for your bona fide buyers. Some of you may have laws about approaching the sellers directly so make sure you approach the previous listing agent if this rule applies to your trading area.

8.) Sleeve Listings – Attending office meetings, emailing and flyer your fellow agents or find some way to get your message out to your colleagues about the qualified buyers you are representing and ask if they have a home up their sleeve that just might fit the needs of your buyers. Off market opportunities exist for us all, we just have to find them.

9.) Database – Always take the time to communicate with your own database about the potential qualified buyers you represent and ask if they know of someone or have, they considered selling. Describe to them your buyers, what they are looking for and ask your own clientele to help you help them find their new dream home. It’s a great excuse for contacting an old client.

10.) Show Sellers The Money – Instead of you writing the letter, I get the buyers to write and sign the letter about themselves and what they are looking for and include an official looking document proving they are pre-approved for their financing.

I trust these strategies will assist you in the balance of 2023; don’t let the low inventory market conditions slow you down any longer. Implement these strategies and stop waiting for the business and start creating the business in the balance of 2023.

Strength and courage,
Wade

How Real Estate Agents Can Create A Shift In Business & Life

real estate agent shift in life“Do the thing, have the power.”Ralph Waldo Emerson

Such a simple, yet profound idea. It’s one of my favorite mantras in both life and business. In an era when everyone is seeking shortcuts and wanting results in the blink of an eye, it lays out the truth in plain language… You’ve got to do the work to get the reward. If you’re putting in the work and looking for that Shift!

Step 1: Clearly Declare What You Want + Tell Others About It. This first step in the process is straightforward… You need to decide what you want in specific detail. Then, don’t keep it to yourself. Goals kept private rarely get accomplished. So go tell people. Announce it from the rooftops.

Step 2: Start Your 90-Day Shift in your real estate business and personal life! This is where you really start “doing the thing” that will give you the power. You need to be performing the right activities – the actions that align with your goals – for 90 days. Each individual day might not move the needle, but collectively these 90-day cycles will most definitely move you closer to your goal. Why 90 days? Because it gives you an opportunity to create real results. Any less and you haven’t given whatever you’re doing a chance to make a difference in your business.

Step 3: Momentum. At a certain point within your 90-day cycle, you’ll begin to see tangible results of your work. I’m sure you’ve experienced this in your business when your activities begin to pay off and suddenly things are clicking. This is being in the momentum state. But BEWARE! There are two ways to will quickly kill your momentum: One, your ego jumps up to bite you. When you start gaining traction, it’s easy to convince yourself that you’re doing great and let your foot off the pedal. Two, you stop doing the work that got you there. If you realize you’ve fallen victim to one of these traps, it’s time to push the reset button and begin a new 90-day cycle.

Step 4: Stabilization. I’m not going to promise you that one 90-day cycle will move your business significantly. But when you keep doing those activities repeatedly, your business will grow. Which means you need to be paying attention and adjusting accordingly. Growth requires new systems and structure, and that’s what the “stabilization” phase is all about… Identifying what’s needed at this new stage in order to stay there:

Systems

Checklists

Software

Personnel

Etc.

Don’t ignore this step! Without regularly stabilizing your business after growth spurts, you’ll fall back down to where you are most stable.

Step 5: More 90-Day Shift & Stabilization. After stabilizing, it’s time to get back to the work, and then rinse and repeat… Get right back into more 90-day cycles (yes, cycles plural) and stabilize when needed. Do that again and again. Stick with it and stay committed. Because eventually your discipline, hard work, and perseverance will pay off and you’ll hit…

Step 6: THE QUANTUM LEAP! When you “do the thing” over and repeatedly… When you build that momentum and maintain your discipline… At a certain point, your work is going to pay off and you’ll create a sudden and unpredictable burst of results. I’m not talking about a little rush of activity, but the big jump from 30 transactions to 90 in one year. This is the quantum leap where you can achieve true, lasting exponential growth in your business. (As long as you stabilize once again after taking that giant leap.)

Step 7: More 90-Day Shift & Stabilization. The last step in this process is to get right back to the work. Jump into a new 90-day cycle and stabilize when needed. You’ve got to keep doing the thing to give you the power. Take the 90-Day Call Out?! What are 3-7 non-negotiable activities you’ll do in your business every day for 90 days in a row? (Or 78 if you want to take one day off each week – it’s up to you.) Let me know what you’re committed to acting on in creating your shift!

Strength and courage,
Wade

Are You Missing This Incredible Opportunity To Spin?

realtor spin to winSo many agents, new and experienced are missing out on the opportunity of leveraging and spinning more business from the business they have already generated. What I call the “Spin To Win.” This week we look at a simple and powerful process of how agents can be proactive vs. reactive and master this system to spin another 15 more pieces of business every time if done right! Every time an agent or the brokerage..

1. Takes a listing

2. Gets a sale

3. Has a bona fide buyer that can’t find a property

4. Takes a price reduction… what do we do next to spin more business from these opportunities before they are gone?!

5. Host an open house.

6. Client Testimonials

7. Coming Soon

8. Buying Opportunity. Pick of the week!

Here’s 5 scripts showing what to say and how to say it for the following action steps:

  • “Help! My clients John and Susan would greatly appreciate your help with the sale of their property. Would you have a friend, family member or co-worker that may be interested in this home? If so, please let me know their name and number and I will follow them up and give them excellent service and promise not to pressure them in any way. Thanks for the help and consideration and making the move for John and Susan easier.”
  • “Help! My clients John and Susan would greatly appreciate your help with the purchase of their next property. Would you happen to have a friend, family member or co-worker that may be selling a 2 bedroom, 2 bath condo in the mission meadows area around the $400,000 price range? If so, please let me know their name and number and I will follow them up and give them excellent service and promise not to pressure them in any way. Thanks for the help and consideration and making the purchase for John and Susan easier.”
  • “Help! We just sold a home on 1234 Maple street and from our marketing efforts we have buyers for who that home didn’t work for, they missed out on and are still wanting this area. Would you happen to have a friend, family member or co-worker that may be living in this area and thinking of selling? If so, please let me know their name and number and I will follow them up and give them excellent service and promise not to pressure them in any way. Thanks for the help and consideration. “
  • “Help! My clients John and Susan just repositioned their home on 1234 Maple street and would appreciate your help with the sale of their property. Would you have a friend, family member or co-worker that may be interested in this home? If so, please let me know their name and number and I will follow them up and give them excellent service and promise not to pressure them in any way. Thanks for the help and consideration and making the move for John and Susan easier.”
  • “Help! My clients John and Susan have allowed me to host an Open House at their home this Saturday from 1-2pm and would appreciate your help. Would you have a friend, family member or co-worker that may be interested in this home? If so, please let them know about the open house this Saturday. Thanks for the help and consideration for making the move for John and Susan easier.”

Step 1 – Your Database – Email your database. Video email your database. Text or video text your database.

Step 2 Social Media – Static written post. Video post. Infographic post. FB live video post. Reels.

Step 3 – Tel 20 – Door Knocking 20 Neighbors. Letter tuck the homes around and save time covering more doors not getting held up chatting too long.

Step 4 – Un Addressed Ad Mail. Personally Addressed mail. – Letters, flyer or postcard the areas.

Step 5 – Host The Open house. – Meet more buyers and sellers and the neighbors.

Step 6 – Video. – Blog, FB or FB Live. YouTube, Reels, Email.

Step 7 – Print. – Add these requests to your monthly newsletter or e newsletter. Local print media.

Step 8 – Classifieds Online or Offline. FB Marketplace. – Run these requests in classified ads.

Step 9 – Targeted FB, Instagram, or Google PPC Ads. – Run these requests as paid targeted ads

Step 10 – Coming Soon campaign for listings and spin buyer enquiries prior to activation.

Step 11 – Business Card MLS Sheets. – Give your seller 50 of your business cards with their mini-MLS listing information on the back of your business cards and ask them to hand them all out and help you help them to sell their home.

So, there you have it. Create opportunities from your business versus wait. Take the time to leverage and spin more business from your existing business as the time allows it. Let me know in the comments of other ways you spin more business from your existing business in the comments below.

Click here to download and enjoy this complimentary spreadsheet to help you track and keep your spin process consistent!

Strength and courage,
Wade

Opportunity Time For Real Estate Agents In Shifting Market.

opportunity time for real estate agents in shifting marketLooking for opportunity in this shifting real estate market?

When I hear agents complaining about the real estate market and acting as if they just need to wait it out until they can get back on track or start growing again, it makes me a little sad. It also makes me more than a little frustrated. Because not only are there still real estate opportunities out there, but for agents who know where to look, now is the time to leap ahead of your competition and grow your real estate market share. That’s what this blog is all about. I’m going to give you four reasons why a recession such as this one is not your enemy, but your opportunity to make an impact. Let’s not waste any time. Read these all the way through, and then get to seizing this moment while it’s still here.

  1. A Professionals Market – Having been in this business for over 28 years, I’ve seen my share of hard real estate markets: Black Monday, the internet bubble burst of 2000, post 9/11, and 2008. And what I’ve seen every time is that the real estate industry becomes trifurcated into three segments: The non-producers who only sell a house or two now and then, if ever. This group tends to drop out during a recession. The Moveable Middle: full-time agents who sell some houses but aren’t super committed and always seem to be struggling. Many of these agents will stay exactly where they are during this time, and many will also drop down to non-producers. But then there are those who rise into… The top 25% who keep crushing it and have some of their best years ever during hard real estate markets. If you’re in the middle group and putting in all your effort then I’m talking to you, because this is the time to sharpen your skills and prove what you can do. Agents who got their start just a couple years ago where homes were flying in seconds are going to be hurting right now, because they didn’t have to work with discipline. So, now is the time to hone it.
  2. Most Agents Will Pull Back on Their Marketing – There is a huge opening in today’s real estate market right now. We are seeing that some agents who control most transactions in their geo farm have been pulling back on their marketing. And this is a major mistake because it allows enterprising agents to move right in. Going all-in on your real estate marketing is more important than ever in a slower economy. Because it’s the agents who make their presence known during the hard times that people remember. I’m not just talking about your advertising, either. You need make it clear that your job is to educate and take care of people. Provide Annual Equity Reviews, check in on past clients just to see how they’re doing, and put out free content online to let everyone know what’s going on. Be the “knowledge broker” in your real estate market. 
  3. Fear is Killing Consumer Opportunities – The reality of today’s real estate climate is that now is still a great time to buy a home, if… The buyer can afford it. And they plan to live in the home for a while. Right now, inflation and interest rates are some of the main drivers of fear, but what many people aren’t weighing this against is the asset they’re obtaining, which in most cases is going to rapidly build equity and be up for refinancing within the year. The agent who learns how to convey the data in the right way to show buyers and sellers the real estate opportunity in front of them is the agent who wins. 
  4. The Drivers In Every Real Estate Market – Here’s something else that I talk about at Roadmap… No matter what kind of real estate market we are in, life goes on, and there are seven reasons why people will always need to move. These Drivers are Diapers: Having a baby. Death. Diamonds: Getting married. Divorce. Diplomas. Defaults on a loan. Relocation.

So, I just gave you that list and it’s up to you what you do with it. Some agents will say “cool” and just keep scrolling. Others will work them into their marketing and targeting.

Don’t Let This Moment Slip Away. I’ll repeat that now is the opportunity to really sharpen your skills and gain the trust of the people in your real estate market, so don’t let it slip away. Yes, a real estate market like this does require you to work harder, but the work you do now is an investment in your future real estate branding. Be grateful for the real estate opportunity to shine during this difficult time. Hope this has been helpful and don’t feel shy about reaching out.

Strength and Courage,
Wade