The Success Mind-Set
Success begins with the right mindset. Real estate sales is not just a job; it is a business. A business that requires planning, organization and systems to maintain balance, accountability and forward momentum. The following details the 3 steps to epic success.
Step 1: Have a Plan
Planning is critical to realizing your goals, generating consistent income and creating an exit plan. The proper exist plan ensures you have a valuable “book of business” that you can sell when you are ready to retire. Your plan should:
- be written out and clearly defined
- have a realistic and comprehensive budget
- be based not only on your goals, but also on your family’s goals (very important to maintaining the support system necessary during long days or tough weeks!)
- outline the number of transactions you need to reach those goals based on commission dollars, list-to-close ratio and fall-through rate
- outline the number of contacts, appointments scheduled/.attended you need to realize your transaction goal
- break your numbers down into daily, weekly and monthly activities so that you ALWAYS know where you are in relation to your goal
Be sure to share your plan with a manager, coach or partner so that you can set up a system of accountability.
Step 2: Employ Smart Marketing
In today’s competitive arena, effectively marketing yourself and your business requires both consistency and laser focus.
Countless agents send single marketing pieces to thousand of consumers, with no intention of following up. This approach is a waste of time, energy and valuable marketing dollars.
The truth is, you should be in contact with your sphere of influence at least every 30-45 days. One month, send a postcard, letter, newsletter or flyer. Many of our customers find the Listing Inventory Series, Content Cards, and Market Dominator among their favorites.
The following month, call with a friendly event reminder, helpful hint, or just to say hello.
During the third month, arrange to see them via a networking event, social gathering or in-person visit. Drop off a small token, informational item or card. Then start the “rotation” over again.
Gone are the days when agents could afford to take a “shotgun” approach-casting a wide net in the hopes of “catching a few”.
Response rates increase dramatically when you speak directly to the needs and interests of a particular group.
Wise agents seek out demographics or geographics that they relate to or have a history of success with.
The more comfortable you become speaking to a particular group or segment, the more you become recognized or thought of as a specialist in that field.
- First-time homeowners – Try MapMyMail to quickly create a list of local renters. Send a postcard that explains the advantages of home ownership.
- Builders – Offer to help builders eliminate their #1 worry: standing inventory. Create a list of every builder in your area and send a flyer explaining how you can find their perfect customer.
- Find a new niche – With our Lifestyle Interest data, you can reach consumers who are just the demographic you want to work with. Think Golfers, Boaters, Fitness Lovers and more.
- FSBOs – There are many effective search products for this demographic. Fear leads many agents to steer clear of FSBOs, which eliminates at least a portion of your competition.
- Investors – Find high income earners that would be great potential investors.
- A New Geographic Farm – Find an area in your market that is beginning to see turnover, but doesn’t currently have another agent with more than a 10% market share. Start connecting month after month using the Neighborhood Update/Free Offer series. This series will present yourself effectively as the turn-to agent in your market.
Step 3: Put Solid Systems in Place
Without systems, you’re like a hamster on the wheel-spinning without really getting anywhere. Systems are the only way to maintain the delegation, automation and streamlining that will continuously work on your business. Systems allow you to:
- manage your time effectively
- create a consistent standard of service
- assure clients that their needs are being met by a “team”
- provide checks and balances for fine tuning your business
- promote efficiency and accuracy
- reduce training time when bringing on new team members
What systems should you have in place?
- time management
- lead generation/prospecting
- pre-listing/listing presentations (download some of the free reports we have for these)
- end-to-end marketing
- price reductions
- automated Just Listed/Just Sold Postcards
- measurable return on investment tracking
The success mind-set requires dedication and a commitment to the activities that earn you top dollar and allow you to “feed” the career you’re building.
Related: 3 Tools That Drive More Business
Need our help? Contact our support team today at 866.405.3638. They’re more than happy to help you.