It's Summer...It's HOT... Where did all the Buyers Go?
Anyone who has been in Real Estate
for any length of time knows how cyclical the market can be. Tax Time, Summer
Vacations, Back to School, and Major Holidays can sometimes put the brakes on
even the hottest markets. Coupled with the “roller coaster” effect inconsistent
prospecting creates, and you have the perfect set-up for a few bad business months…
(Where you seem to always be scrambling for prospective buyers and sellers).
Step One: To lessen the side effects of the
normal cycles of the real estate market stay consistent with your prospecting
and networking with your database. Only 20% of REALTORS have a system in place
to manage their database … Only 5% use it consistently… This 5% has an average
yearly net income over $200,000. Lesson #1 learned… Get a System…Lesson #2 USE
IT!
Realtor
Rescue Coaching implements a system appropriately named “THE FIVE”©. This is a simple to learn and utilize system of 5 different
types of contact per day… 5 days each
week. This equates to approximately 25 contacts per week of voice to voice,
face to face, hand written notes, electronic communication, and breaking bread
(lunch or coffee meetings).
For most
this seems like a daunting number… I often get this response… “I have to contact 25 people each week???
Really Eddie…are you on drugs?” … (or some just look at me like I have 3
heads)… But I promise…it is really is much simpler than it seems.
Daily Scenario: You call a past client and invite
them to Starbucks for coffee… 1 call, 1
coffee… after the Starbucks visit you send them a hand written note via
snail mail thanking them for meeting with you (and again asking for referrals)…
there goes your 3rd contact…
While at the
grocery store picking up your dinner you see a neighbor and have a quick
discussion about the swim meet at the pool and you ask them to remember you if
they hear of anyone buying or selling ….there
goes your face-to face and contact #4.
So all that
is left is your electronic communique… Will any of you send any personal
emails, or go onto social media after you have dinner? Yeah I thought so….BINGO there’s your “FIVE” for the day… Easy
Peezy!
Step Two: Is to get an accountability partner
to hold you to your promise to yourself so you can reach your goal of 5
contacts 5 days each week. Also have a set of written goals for your
transaction numbers and income for the next 3-6 months. Consistency is the key…your
“easy button”… Your “partner” can be a spouse or significant other or another
agent where you can hold each other accountable to your goals.
Step Three: “Aim Small and Miss Small” Don’t aim at the whole target…pick a spot on
the target and focus on it intensely… so even if you miss the small spot you
were focused on, you will still be on the target.
Example….
Don’t focus on a goal of $100,000 in income… nor the 30 closed transactions
needed to generate $100,000 in income… don’t even consider this equates to 2.5
monthly closed transactions … Do calculate the number of contacts you need per
day to generate your income goal and focus on completing them each day. Even if
you miss a few contact goals here and there… you most likely will still be on
target at year end.
When the
market slows down… it gives you more time to “speed-up” your marketing efforts.
When everyone else is complaining about the lack of business…you will be
shifting into a higher gear and waving to them in the rear view mirror…
yelling…. STAY ALIVE WITH THE FIVE!!!!!
For more information
on Realtor Rescue Coaching and “THE FIVE” contact
Eddie Brown © July 2017
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