Have You Lost Your Focus?

Business Planning and Laser Focus on Activities and Results

An old coaching axiom has long been: “If you don’t have a written business plan…You are simply planning to fail”.

There are two ways to formulate a viable business plan for real estate…#1 meet with a trusted mentor/coach/manager and use their assistance in constructing a plan and committing the to writing.  Use their advice of the things which worked for them, and others, in the past. This method keeps you from re-inventing the wheel.

#2 is a bit more time consuming, but will most likely produce a written business plan tailored to your personality and business goals. There are ten simple steps you need to follow… which I have out-lined on our coaching website…here is a link to 10 Steps to a Better Business Plan

After you have a killer business plan laid out… next you will need to narrow your attention to laser like focus on your target…Growing your business!

 Those of you who have taken a class in archery or weapons may have heard the term “aim small - miss small” …this phrase was made infamous by Mel Gibson in The Patriot Movie Quote. This is the type of focus you will need to really learn and follow your business plan and how you can make it best work for you. A lot of failed business owners worked really hard only to lose everything because they failed to focus on working smarter than their competition.

At ICU-Coaching.com you can also find a daily spreadsheet for self-accountability for your daily activities and results Daily Time Log

By tracking your activities and your results you will quickly discover what works for you, and what doesn’t. This will require daily accountability on your part, but once you have completed the exercise for a few days… you will quickly see how it can focus you in on the most important aspects of your business…(the activities which create income and the results they produce).

For more information or assistance on building a business plan or self-accountability contact Eddie at 919-785-4201!

www.ICU-Coaching.com © 2013

NineThings You Can Do By Year End to Increase Your Business

Below are 9 ideas for expanding your Book of Business between now and Dec 31, 2013. Pick a few or pick them all...guaranteed to help fill your 2014 closing calendar.

1. Rent a popular venue in your city for an evening and invite all your clients to a private party. Example: rent a movie theater once a year and invite past and current customers to a free screening of a children's movie.

2. Take Polaroid photos of Halloween 'trick-or-treaters', slip them into photo jackets printed with your name and telephone number, and give them to the kids to take home to their parents. Hand out inexpensive reflective treat bags to help keep them safe as they walk from house to house in the neighborhood.

3. Plan a pop-by visit and deliver cookies by the office of one of your A+ relationships...not only do you get "points" with them but everyone in the office gets a treat as well. Leave a stack of your business cards by the cookies...you never know who is thinking of buying or selling! 

4. Offer a $500 or $1,000 college scholarship to a high school senior in your community. Hold a ceremony in their neighborhood to present the check. Have the parents invite others to congratulate the recipient.... and hopefully to meet the donor! 

 5. Sponsor uniforms, and if you can... coach, a children's soccer, basketball or baseball team in your community.

 6. Buy a block of tickets to a concert or play and hold a drawing. Call your prospects and ask whether they'd like their names to be included in the drawing.

7. Sponsor a home repair demonstration or lecture at a local hardware store...pick 2-3 quick fix repair items and get the store manager to give discounts for the items or tools needed to perform those repairs to everyone who attends. Print out instructions for the repairs on cards with your info on the back.

 

8. Rent an ice cream truck, Give away free frozen goodies in local targeted neighborhoods. An in-advance postcard mailing informed residences about the promotion.

 9. Organize a group to Christmas carol in your market area; leave behind a Happy Holidays card.

 

Community involvement is another powerful promotional way to get to know people in your market area. Making a significant donation of time, talent, or money to a local group is a great starting point... get personally involved.... Try and keep your focus narrow and localized.

 

How To Re-List Expired Listings!

This week’s Coaching Topic focuses on Expired Listings. Are you getting your share?
"Re-Listing" expired listings may be easier than you think…Think about it…At least you know for certain they wanted or needed to sell at one time…Below are ways to help Sellers re-discover their enthusiasm for getting their home SOLD!   

Six Steps to Listing Expired Listings -

1. Check TMLS daily and contact Seller the day a listing expires.
2. Focus on proving to the sellers how you are different; remember they’ve just been disappointed by another real estate salesperson. (Use this dialogue: “I am sure you had a great agent before but there must be something they missed; maybe a fresh set of eyes can uncover the reason why your home has not sold. Will you allow me to come by and do an assessment of your property?”)
3. Provide some value immediately; a comprehensive market analysis will convince sellers you are serious. Have charts and stats ready to show current market conditions
4. Promise and provide a marketing plan within 48 hours.
5. Provide a list of what you will do in the first four weeks to sell their home.
6. Promise to communicate with them at a minimum of once a week for feedback and a general discussion of activities.

Vacant, Stigmatized, and Neglected Properties

• Find owners by checking TAX RECORDS.
• Devise a good letter of introduction and write the owner to see if they are interested in selling.
• Determine why the house is stigmatized—environmental problems, lawsuits, or insufficient funds.
• Verify the causes of problems if you can; check for pending suits, liens, environmental reports, and foreclosures.
• Determine if and at what cost the problem can be corrected.

Environmental problems can be resolved, although the cost may be more than the house is worth. Ask if the owner has gotten an estimate for remediation. If the house is neglected, suggest selling it as a fixer-upper or even a teardown if the price is adjusted accordingly.

Homebuilders:

The New Homes market has finally started to revitalize itself in our area. When the New Homes Market stalled, some new homes were staying on the market until they expired and then were rented by the builder. These types of homes could most likely sell in todays improved market. Check the TMLS for New Construction Expired Listings where the Builders still own them. This involves some research but if their REALTOR has not renewed the Listing Agreement it may be an opportunity for you.

• Learn about home building. Understanding builders’ terminology and processes gives you credibility.
• Find out who is building in your area. Pull building permits down at city hall, check ads for new construction, or drive around the neighborhoods you cover.
• Stress how you intend to focus part of your business on new construction.

4 Other Hot Seller Sources:

• Personnel Directors- Human Resource Directors
• Investor and Landlord groups—might be interested in buying homes to hold and rent or selling current ones they own.
• Government agencies—need to dispose of properties acquired in tax sales and drug seizures.
• Probate, Foreclosure and divorce attorneys—assist in home sales from estates and for the division of assets during a divorce.
• Home which were listed several years ago but didn’t sell--  check for homes which expired 2-3 years ago which have not been relisted-  Even though they didn’t sell then….the market has changed…they just might now!

2013© Eddie Brown