“I wish I could do more.”I hear that statement a lot from agents. The demands on their time, their skills, and their presence are always escalating, always making it seem like there’s never enough of them to go around. Usually, the emphasis is on the more in that sentence: I wish I could do more. More listings, more sales, more marketing, more emails and calls. The escalation is in outputs, checked-off boxes that make those around us feel better. We end up scheduling ourselves to the nth degree, increasing our activity while not necessarily increasing our accomplishment.
The more that we’re chasing isn’t wrong. It’s part of our journey as we grow, we expand our capacity, and with expanded capacity comes increased output. But increasing our output doesn’t correlate with increasing our impact—sometimes, to do more, we need to do different. There are three steps you must take to expand your capacity to act:
1. STOP Doing Only Those Things You’ve Done Before and START Doing Only Those Things You Could and Should Do – The first step toward success is becoming good at what you know how to do, but once you’ve mastered what you know, you begin to discover other things you could do. Doing what you’ve done before increases your efficiency, but it doesn’t do much for your capacity. Doing new things leads to innovation and new discoveries, which yields new things that you should be doing—things that likely replace those things you’ve done before.
2. STOP Doing What is Expected and START Doing What is Unexpected – Let me go ahead and clear this up: what most people never expect is to have their expectations exceeded. What others define as a ceiling, you define as a floor, and then seek to go up from there. Being an agent who gives in to the inertia of the daily routine, the same old same old, may allow you to be efficient but it will never allow you to be effective. You must push past the minimum and seek to do something beyond what’s expected. Show up early. Stay late. Listen well. Praise more. Reward faithfully. Share willingly.
3. STOP Doing Important Things Occasionally and START Doing Important Things Daily – If it’s important, it’s worth doing. That’s the leader’s mindset. Yet so often we surrender our time to the urgent or the pressing or the “needed” instead of to what’s important. To do what’s not important each day yields nothing for you or your leadership; it merely uses up your time. And to do what’s important only occasionally doesn’t lead to the consistency that compounds into results. You must do what is important daily if you want to achieve expansion in your capacity.
Have you been feeling the pressure to do more as an agent? If so, let me encourage you to intentionally invest time in expanding your capacity to act. Doing the things you should be doing, doing them beyond anyone’s expectations, and doing it daily is the key to expanding your capacity in ways you can’t yet imagine. The world is not made better by our intentions; it is made better by our intentional actions. As business owners, we must do more, but we must do more of what makes us better. We must increase our capacity for helpful and productive action.
Let me ask you a question. “Are you all in for real estate? Or are you just dabbling in real estate, hoping for what you’ve heard is quick, easy money?” Both of these types of agents exist in our industry. But only one has longevity… the real “professionals” will always outlast the “hobbyists.” Which begs the question: What does it take to become a true “professional” in real estate? What are the top traits of a true pro in the business. See how many of them you live up to?
Trait No. 1. They set goals, write plans, and execute on their plans. Implementation and execution. This one’s simple enough. Obviously to achieve big things requires goal setting and a business plan for how you’ll achieve those goals. Then it takes the discipline to actually execute your plan instead of getting distracted and pulled in a million different directions.
Trait No. 2. They have a strong work ethic, a “whatever it takes” spirit. Remember what I’ve been saying and what we see from our coaching members’ experiences: 10% of success is knowing what to do and how to do it. The other 90% is actually doing the work. If you’re not willing to work, if you tire easily, if you’re not fully committed… you’re not going to rise to the level of a true real estate “professional.”
Trait No. 3. They use technology to improve efficiency (speed) and provide a better experience for their clients (convenience) Being “pretty good” isn’t good enough. You need to be providing the type of service that wows your clients and gets them talking about you. That’s what professionals do. And they do the same thing when it comes to making things easier on themselves – by investing in technology to improve efficiencies in their business. Is your tech really moving the needle for you, your team, and your clients? Constantly delivering the unexpected.
Trait No. 4. They are good listeners & approach each customer with empathy, understanding, and respect. Put yourself in the consumer’s shoes. Make an effort to understand what makes them unique. Meet not only their housing desires but their emotional needs. Stop talking and listen.
Trait No. 5. They are knowledgeable about the process and know how to guide clients successfully through real estate transactions. Most agents probably say this one is a no-brainer. But what about when variables get introduced… how broad is your scope to successfully guide people through a transaction when there are “outside the box” factors involved? My point here is that you should never become content that you know it all, because there’s always a new twist to encounter coming around the bend. Keep learning, keep growing, keep improving how you do things. Always.
Trait No. 6. Professional realtors set realistic expectations for themselves and their clients – they don’t promise what’s not possible or reasonable. Professionalism is all about taking a long-term perspective. Hobbyists and hacks set themselves up for failure – or at best, short-term success – by overpromising and under-delivering. A recent 1000watt consumer survey found that “Open, honest communication” is the number one thing people are looking for to gain trust in their real estate agent.
Professionals provide honest, straightforward advice to prepare people for the realities of what they’re likely to face… and then they build long-term relationships with those clients in the process.
Trait No. 7. They delegate, when possible, to focus on their highest and best uses of time. You’ve heard me talk about your HABU – highest and best use of your time. But have you taken it to heart? Have you delegated tasks that someone could be doing for $20/hour to allow you to conduct more “dollar-productive” business? Have you explored hiring a Virtual Assistant to take the heavy workload off your desk? Have you systematized your business to free you up to focus on what matters most?
Trait No. 8. They market themselves and their homes for sale in a modern way. Using the best tools and mediums (MLS, video, direct mail, online ads) to generate the most exposure and hyperlocal response. It’s difficult to be a professional if you’re spending most of your time chasing new business. That’s why having effective marketing attraction systems is so important. When your marketing is automatically delivering a steady stream of new and returning clients, you can focus on providing the exceptional experience that keeps them coming back and referring you to their friends. If your marketing plan isn’t performing, I invite you to speak with one of our expert business consultants to help overcome the challenges you’re facing.
Trait No. 9. They’ve properly positioned themselves online, Google My Business, the portals, to all relevant social sites. Have you maximized your Google My Business page? If not, download this today. Are you engaging with people on social to grow your accounts? Are you posting consistently? Do you have a social media posting schedule or do you just “wing it”? Professionals have this stuff handled. Do you?
Trait No. 10. They respond to inquiries quickly, recognizing consumers expectations are “now”. Today’s consumer expects an Amazon-like experience. Push a button. Easy peasy. Results delivered overnight. Is it a fair expectation with something as complex as real estate? Doesn’t matter. That’s what they want, and it’s your role to respond immediately. And “I’m too busy for that” isn’t a valid response. Figure it out, or one of your competitors will figure it out and put you right out of business.
Trait No. 11. They know their local market, neighborhoods, schools, home price trends and all reliable home service providers. If you’ve been paying attention, I’ve been saying that agents should make studying the MLS part of their morning routine every single day. There’s no better way to make sure you’re dialed in when it comes to what’s selling, what’s not, how long properties are on the market, etc. Beyond that, I urge you to involve yourself in the community you serve and give back in a variety of ways – whether that means donating time and/or money to local causes or making videos informing people of local happenings and market conditions. Make yourself the “knowledge broker” in your market and share your expertise with the community.
Trait No. 12. They have a growth mindset, to maintain relevancy and confidence in their business. Because that’s what professionals do. Professionals aren’t content with the status quo. They don’t settle for “good enough.” Instead, they maintain a steadfast commitment to moving forward, growing their business and expanding their empire. And it’s not just talk or swagger – they back it up with action! So… how many of these 12 can you say you demonstrate on a consistent basis? What do you need to work on as a result?
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!!
2020, for many of us, has been a tough year in the real estate business, including myself. Many of you might not have heard a starting gun, but make no mistake about it… The race has begun. You’re in an all-out sprint to end the year. That’s how I’d encourage you to look at the time remaining in 2020. Whether you’re still making up for lost time or you’re striving to establish new personal bests, now is not the time to take your foot off the pedal.
It’s time to go hard.
Let me share some tips to keep you motivated… A new quarter is always a good opportunity to revisit your goals and establish some new commitments and promises to yourself. Maybe it’s one discipline you need to practice every day from now until 2021… Maybe it’s closing strong on the behaviors necessary to reach your 2020 goal… Whatever the case, it’s time to make some commitments and promises to yourself:
How many appointments will you book?
How many listings will you take?
How many closings?
How much revenue?
What about savings goals and money set aside for taxes?
It doesn’t have to be all about the bottom line, either.
So answer these questions:
What books do you need to read? Here are my recent recommendations.
What topics do you need to learn about?
What events will you attend?
What people do you need to know or follow?
Make Your Promises Public and hold yourself accountable to your promises to yourself. Once you’ve answered these questions, do not stick them away in a drawer. Do the opposite… Make it public information. Get them “up and visual” in front of you and your tribe. Track your numbers and measure your progress every day. The more emphasis you put on the numbers, the more you’ll follow through on the actions to achieve them. Remember, how you finish 2020 will also determine how you start 2021. Come January 1, will you be starting from a standstill, or will you be flying into the new year full of momentum? The harder you run in this sprint to the finish line, the better position you’re going to be in once 2021 arrives.
Which begs a few more questions you need to answer now:
When will you create your 2021 business plan? Reserve time on your calendar today!
Where do you need to expand your business to achieve your 2021 goals?
What resources do you need to achieve your 2021 goals? Is it time to start growing your team?
Take a Look at the Bigger Picture. Right now is also a good time to look beyond your business and check in on the equities of your life:
Health
Relationships
Spiritual
Wealth
Contribution
Friendships
Wisdom & Learning
Check out this video for more on that.
You might want to make a chart or simply ask yourself if you’re trending in the right or wrong direction in these categories. What do you need to work on to achieve better balance? You’ve Come A Long Way. Don’t Stop Now.
In closing, let me remind you how far you’ve come so far in 2020. Everything that’s been thrown at you, and you’re still standing. The strength is within you to persevere. I hope the questions I posed above provide the motivation to keep pursuing your goals throughout 2020. Don’t take your eyes off the prize. Keep going and make it happen!
“I wish I could do more.” I hear that statement a lot from agents. The demands on their time, their skills, and their presence are always escalating, always making it seem like there’s never enough of them to go around. Usually, the emphasis is on the more in that sentence: I wish I could do more. More listings, more sales, more marketing, more emails and calls. The escalation is in outputs, checked-off boxes that make those around us feel better. We end up scheduling ourselves to the nth degree, increasing our activity while not necessarily increasing our accomplishment.
