What Is Your Realtor© Financial Blueprint?

Wade Webb on January 18, 2023

realtor financial blueprint“Identity is this incredible invisible force that controls your whole life. It’s invisible, like gravity is invisible, but it controls your whole life.” —Tony Robbins

What is your Realtor© financial blueprint?

One of the most powerful forces over us is our identity. Identify as someone who is fit and healthy? You’ll prove it by working out daily. Believe that you’re great at math? Then you ace those tests. And when you identify as someone who is “just not good with money,” you will prove that to yourself over and again by quitting a good job, spending recklessly, or losing your wallet every few months. Humans are incapable of acting out of line with our identity and our subconscious works tirelessly to make us consistent—for better or worse. If you want to get rich, then, the solution is to change your identity. And THAT starts with changing your thinking.

Here are some questions you can ask that will do the trick.

1.) What negative beliefs do you have about money? Dig deep for your own greatest hits. What do you believe about money that’s preventing you from having it? Do you have a rich uncle with horrifying political views and think all wealthy people must be like that? Money is only a tool, and wealth is not correlated to a person’s character or political views. How can you discover your beliefs about money? Pay close attention to the language you use. “I can’t afford it” is a mantra that shuts off your brain. Yes, you can afford it in some future state—you just need to get creative. A healthier replacement belief might be, “How can I afford it?”

2.) Why do you deserve money? The most common block about making money is the feeling that we don’t deserve it. We tell ourselves in myriad ways that we’re not smart, kind, attractive, capable, experienced, or fill-in-the-blank enough. Challenge that thinking. Make a list right now (yes, right now!) of all the reasons you deserve money. You might write down, like I did, that I deserve money because I’m a kind, ethical man with an abundance of integrity and that the money will be useful for humanity’s good. Maybe you deserve it because you work especially hard, or take care of a sick loved one, are incredibly intelligent and capable, because you’ve paid your dues—or, because everyone deserves wealth and abundance, including you.

3.) Who could I become with money? I’ve had the pleasure of experiencing that formative life lesson that is not having money. I’m grateful for the lessons it taught me, but I’d never want to go back there. As a broke person I was always stressed, which erased my sense of humor. I stopped seeing friends. I stopped buying new clothes and having a beer on a patio in the summer, which made me happy. I lost my self-confidence and self-esteem, and because of that, couldn’t possibly do great work. Learning how to create and grow wealth changed all of that and helped me become a more vibrant, generous, less anxious person—my real self. I like myself much more as a prosperous person. Who would you become without the guillotine of poverty hanging over your head?

4.) Who could I help with money? A sole focus on yourself is a good recipe for ending up alone and miserable. The secret to a happy life is to constantly be contributing. We all want to be useful and that happens because of what we give, not what we get. If you had all the money, you want now, who could you help? Could you pay off your parents’ mortgage? Send your daughter to the best school in the world? Be less stressed and a better partner at home? Give to charity? Find a reason outside of yourself for creating wealth, and the dollars will flow.

5.) What has money already given you? There’s a psychological effect called “disqualifying the positive,” and it happens when we ignore good experiences and focus only on the bad. People do this often with money: We forget how much that money already does and has done for us and see only what’s lacking. We can combat this by literally counting our blessings. On a piece of paper, write down the amazing things you have or had in your life because of money—your home, car, education, lifesaving surgery or medication, vacations, toys, food, or gym membership. Thanks, money! When we remind ourselves of what money can give us, we appreciate it. And when money feels appreciated? Well, it comes to visit more often. There Is Plenty to Go Around “The truth is that there’s more than enough good to go around.” —Michael Beckwith

There’s one specific money belief that’s probably more important than all the others, and it’s the opposite of what most people believe: There is plenty of wealth to go around. No, we’re not talking about printing money, we’re still about beliefs. If you think that wealth creation is a zero-sum game, i.e. that someone has to lose for you to gain, then you will always struggle with money. That’s the scarcity mindset. The truth is wealth can be created out of nothing—just put an industrious pioneer in the middle of a forest and you’ll see. The economy grows not because of clever tricks by central banks, but because real people are creating real value for other people through a product or service. The pie is constantly growing, and when one person gets a slice, they don’t deprive someone else of theirs. Adopt this belief with full faith, and you’ll stop competing for wealth and start creating it.

Strength and courage,
Wade

Realtors© Get And Keep Your Financial House In Order

Wade Webb on March 16, 2022

realtors financial house orderRealtors© do you have your financial house in order? Working towards financial stability is a process and two days of work won’t make us any richer than yesterday. Scientific research indicates that it takes about an average of 66 days for a behavior to become a part of your lifestyle/routine, in other words, a habit. So, if there is a good time to start working towards our personal financial goals and inculcate some financial discipline, it is now. Here are some habits one could cultivate to accomplish your goals in 2022. These are just a few simple and powerful ways that I have learned to shift my financial house in order.

Track Your Expenses – A good first step in financial planning is to start tracking your expenses. Know where your expenditure is going and how much. Sometimes, looking at things from a vantage point helps in understanding them better. So, take a look at your income and expenses from a broader perspective to identify what can be cut down and then narrow down your focus to optimizing your spending. In case it gets tedious to keep a tab of all your expenditure, expense management apps can come to your rescue. Since the apps would have a record of all your transactions, it will help you review your expense profile better and help prioritize your spending. Considering that there has been a massive shift to digital spending in India in recent years, expense management apps can come in handy for those struggling to get a sense of their spending habits.

Build Your Savings – Saving is difficult. But saving for a rainy day is essential as a solid savings base would give you a cushion to handle uncertainties in a better way. A plan for savings should begin at the budgeting stage itself. A systematic approach for budgeting often suggested by financial experts is the 50-30-20 rule of thumb. According to it, an individual should allot 50% of the income to essential expenses or “needs” (living, food, and other expenses), 20% towards personal expenditure or “wants” (luxuries and leisure) and 20% towards savings or financial goals such as investments. However, it is important to know that there is no one-size-fits-all. You can arrive at your own rule of thumb after taking into account your income and financial goals. Set a target and work towards it. If you can save more, do so by all means. And if you have reached your savings target, give incremental savings a shot. Remember: A penny saved is a penny earned.

Start Investing – It is never too early or too late to start investing. You need not necessarily be ‘The Big Bull’ or ‘The Big Bear’ in the capital markets to start investing. Start off with small but smart investments. Try convenient and smart tools like Systematic Investment Plans (SIPs). SIP has become popular for investing regularly in mutual funds. It is like a recurring deposit, but market-linked. Hence, it gives you the flexibility and convenience to invest the amount of your choice. Start small and then you can work towards having a diverse portfolio of various financial instruments once you get a hang of it. Look at low-risk mutual funds and keep long-term in mind always. Options such as fixed deposits, recurring deposits, provident funds, national pension scheme and others are other traditional yet safe bets for those with a lesser risk appetite. Don’t underestimate the power of compounding returns. Neither chase after high returns in the short-term. Slow and steady wins the race for a reason. But that said, risk is inevitable in market-linked financial programs. Hence, building a risk appetite in line with our goals is critical. One of the most important things to remember while investing is not to be swayed by the fear of missing out. Don’t wait until too long to invest, but never invest out of the fear of missing out. Always do your research and never solely rely on others’ advice as capital markets are associated with risks. Patience is a virtue.

Secure Yourself and Your Family – The importance of health and term insurance policies can’t be stressed enough. Not only does insurance protect you from unforeseen risks, but could help you in the long run, provided there is adequate coverage, by covering your medical/health costs. Your out-of-pocket expenses shall be restricted. You don’t need to dip into your savings, and they are also great tax savers! Having health/medical, term and/or life insurance is prudent and it helps secure yourself and your family in times of uncertainty. And opting for insurance at a younger age will give you benefits such as lower premium charges. But, thorough research is imperative while purchasing health/medical and life/term insurances. Carefully read all the terms and conditions, before opting for one.

Tax Planning – Tax planning is a basic and important part of financial planning. It helps in reducing tax liabilities. Therefore, don’t just look for tax savings initiatives at the end of the financial year or when it is time to file your tax returns. Start planning early, preferably at the beginning of a new fiscal year. There are various ways to reduce your tax liability such as minimizing taxable income by investing in various government schemes. Another way is to plan your tax deductions well in advance so that you could claim a reduction in taxes payable. Life insurance, health insurance, mutual funds, home loan interest and others are some of the areas where standard deductions can be availed. Bottom line, financial planning is the first step towards financial security. It’s important to set out simple goals and start off on the journey. The basics can go a long way in ensuring you have a solid start on your financial journey.

Strength and courage,
Wade

The 2021 Final Quarter Push for Realtors©

Wade Webb on September 1, 2021

2021 final quarter realtorsI don’t know about you but the first part of the year and my summer seemed to just fly by and I cannot believe it is September 2021 already. We are beginning the last quarter of the year and there are only two outcomes for us Realtors©. 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 sales people 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 2021 strong.

1. Be Active – There’s no substitute for being pleasantly persistent and respectfully blunt. Get out there and be straightforward. Taking action 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 take action 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 2021 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 take action. 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 2022 – How much revenue do you plan to book in Q1 2022? 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 quarter. 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 2021

 

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

What’s Your Money Mindset?

Wade Webb on November 11, 2020

realtor money mindset“Identity is this incredible invisible force that controls your whole life. It’s invisible, like gravity is invisible, but it controls your whole life.” —Tony Robbins

One of the most powerful forces over us is our identity. Identify as someone who is fit and healthy? You’ll prove it by working out daily. Believe that you’re great at math? Then you ace those tests. And when you identify as someone who is “just not good with money,” you will prove that to yourself over and again by quitting a good job, spending recklessly or losing your wallet every few months. Humans are incapable of acting out of line with our identity and our subconscious works tirelessly to make us consistent—for better or worse. If you want to get rich, then, the solution is to change your identity. And THAT starts with changing your thinking.

 

Here are some questions you can ask that will do the trick.

1. What negative beliefs do you have about money? Dig deep for your own greatest hits. What do you believe about money that’s preventing you from having it? Do you have a rich uncle with horrifying political views and think all wealthy people must be like that? Money is only a tool, and wealth is not correlated to a person’s character or political views. How can you discover your beliefs about money? Pay close attention to the language you use. “I can’t afford it” is a mantra that shuts off your brain. Yes, you can afford it in some future state—you just need to get creative. A healthier replacement belief might be, “How can I afford it?”

2. Why do you deserve money? The most common block about making money is the feeling that we don’t deserve it. We tell ourselves in myriad ways that we’re not smart, kind, attractive, capable, experienced or fill-in-the-blank enough. Challenge that thinking. Make a list right now (yes, right now!) of all the reasons you deserve money. You might write down, like I did, that I deserve money because I’m a kind, ethical man with an abundance of integrity and that the money will be put to use for humanity’s good. Maybe you deserve it because you work especially hard, or take care of a sick loved one, are incredibly intelligent and capable, because you’ve paid your dues—or, because everyone deserves wealth and abundance, including you.

3. Who could I become with money? I’ve had the pleasure of experiencing that formative life lesson that is being broke. I’m grateful for the lessons it taught me, but I’d never want to go back there. As a broke person I was always stressed, which erased my sense of humor. I stopped seeing friends. I stopped buying new clothes and having a beer on a patio in the summer, which made me happy. I lost my self-confidence and self-esteem, and because of that, couldn’t possibly do great work. Learning how to create and grow wealth changed all of that and helped me become a more vibrant, generous, less uptight person—my real self. I like myself much more as a prosperous person. Who would you become without the guillotine of poverty hanging over your head?

4. Who could I help with money? A sole focus on yourself is a good recipe for ending up alone and miserable. The secret to a happy life is to constantly be contributing. We all want to be useful and that happens because of what we give, not what we get. If you had all the money you want now, who could you help? Could you pay off your parents’ mortgage? Send your daughter to the best school in the world? Be less stressed and a better partner at home? Give to charity? Find a reason outside of yourself for creating wealth, and the dollars will flow.

5. What has money already given you? There’s a psychological effect called “disqualifying the positive,” and it happens when we ignore good experiences and focus only on the bad. People do this often with money: We forget how much that money already does and has done for us and see only what’s lacking. We can combat this by literally counting our blessings. On a piece of paper, write down the amazing things you have or had in your life because of money—your home, car, education, lifesaving surgery or medication, vacations, toys, food, or gym membership. Thanks, money! When we remind ourselves of what money is capable of giving us, we appreciate it. And when money feels appreciated? Well it comes to visit more often. There Is Plenty to Go Around “The truth is that there’s more than enough good to go around.” —Michael Beckwith

There’s one specific money belief that’s probably more important than all the others, and it’s the complete opposite of what most people believe: There is plenty of wealth to go around. No, we’re not talking about printing money, we’re still on the subject of beliefs. If you think that wealth creation is a zero-sum game, i.e. that someone has to lose for you to gain, then you will always struggle with money. That’s the scarcity mindset. The truth is, wealth can be created out of nothing—just put an industrious pioneer in the middle of a forest and you’ll see. The economy grows not because of clever tricks by central banks, but because real people are creating real value for other people through a product or service. The pie is constantly growing, and when one person gets a slice, they don’t deprive someone else of theirs. Adopt this belief with full faith, and you’ll stop competing for wealth and start creating it.

 

Strength and courage,
Wade