Tuesday, June 16, 2015

How to Become a PRO REALTOR

Are you a PRO or an Amateur?

In the world of business, the difference between being a PRO and an amateur can mean the difference between having a “job” which just pays the bills… and building a career, a business, a lifestyle, and true wealth.

I can divide my life neatly into two parts: before turning PRO…and after. After is better...     Steven Pressfield

 The Real Differences between Professional and Amateur REALTORS:

  • A PRO already knows what their day will look like when they wake up…an amateur flies by the seat of their pants every day.
  • A PRO Builds and nurtures trust based relationships…while an amateur works from one transaction to the next, never knowing when… or where… the next transaction will come from.
  • A PRO is always building his or her “brand” while an amateur remains a commodity, constantly combatting the competition.
  • A PRO will tell their clients what they believe in… not spouting false promises or what they feel the clients “want” to hear.
  • A PRO delivers on their promises…not just “on time”…. but faster than expected!
  • A PRO listens more than they speak, then learns and cares about their clients’ needs.
  • A PRO uses technology “as needed” and keeps the human touch in the transaction.
  • A PRO finds reasons to make personal contact…while an amateur avoids it and hides behind emails, texts, and farming letters.
  • A PRO realizes personal Attention leads to Appreciation!
  • A PRO understands you can’t manage time….you can only manage yourself.
  • A PRO’s day is more and more about less and less… preventing overload and burnout.
  • A PRO appreciates the Law of the Harvest and plants new seeds every day… To a PRO the term “lucky farmer” is an oxymoron!
  • A PRO knows you have to be consistent, persistent, and relevant to your market.
  • A PRO gets in the path…and stays in the path of their business… has a written business plan and holds themselves accountable to the activities required to reach their goals.
  • A PRO takes care of the people… and knows when they do… the money will take care of itself.
  • Finally… A PRO exudes confidence in their abilities, they never sell themselves short, they say no to overpriced listings, and underpriced commissions. They provide value to every transaction through education and market knowledge. Their clients leave the transaction feeling good about their buying/selling decisions and know they were well represented… and when asked… will freely refer friends and family, confident they will receive the same level of service.

So what is your current status? PRO or Amateur?

To learn more about earning your PRO Status... Call 919-785-4201 and ask about our Intense Coaching Unit where we will assist you in transforming your business and your life!

 Excerpts taken from 10 Truths for Making Music in a Noisy World…. Ashton Gustafson

Eddie Brown 2015

Monday, June 1, 2015

Is Your Real Estate Business Prepared For The Future?

It’s an interesting time to be in real estate; Possibly one of the most fascinating markets ever… Think about this….In 18 months there will be a new president in the U.S., and every time a new Commander in Chief takes office, the market begins to adjust. Now is the time to be building your business and be aggressive.”

Real Estate Professionals have an 18-month window to cash in, so it’s the perfect time to beef up your business plans and grow as quickly and efficiently as possible.

Worried About Your Competition?

Every agent worries about their competition, but with just a few adjustments to your business plans and strategies, you could can stand out above all the others.

Consider how 20% of the REALTORS did 80% of the business last year and only 6% made more than $250,000 in gross income. “Which side of the equation do you want to be on?”
This market has created the haves and have-nots. Those doing the right thing… and those talking about doing the right thing. You can continue to do what you’ve always done or… but what if you simply did more of what the top 6% of agents do? Stop romanticizing about how you do it and focus on what the “HAVES...have” which makes them successful.

The truth is, 87 percent of the industry turns over every five years, due mostly on a high number on agents not doing what the best people do. As the old saying goes, “Success leaves clues.” That’s why you need to study what the best people do and replicate it. Don’t try to re-invent the real estate wheel. Most of the 87% leave the industry because they just can’t make enough money to survive… sad but true.

The top 6% aren’t looking for a “magic pill”… the very best keep it simple. They focus on diligence, persistency, and consistency. It’s also important to know your own motivations, set goals, short and long term, and understand how and why you want to build your business. You’re not going to perform the necessary tasks required unless you know what motivates you. Sustained growth comes from consistent lead generation derived from building trust based relationships. Working By Referral!

The Formula

The challenge for most agents is spending enough time on growth and lead generation. Real estate is a numbers game…Not everyone you contact will enter into an agency agreement with you, but over time, the averages show for every 50 people you contact, at least 1 will do a transaction with you.
Example: Your goal is to sell 24 home in the next 12 months
50 x 24 = 1200 contacts
There are 365 days in a year… if you set a goal to prospect 5 days a week ...this equates to 260 days …if you take 2 weeks’ vacation you will be prospecting 250 days…
1200 / 250 = 5 contacts per day
Your plan has to hold you accountable for consistent prospecting. Who, how and when has to be in your plans, and you need to hold yourself accountable or get an accountability partner to help push you back to center when you fall off course.

Technology – Time Saver or a “Hide Behind”?

Today’s consumers demand transparency and an agent must use technology to reach potential clients. But hiding behind texts, emails, and electronic prospecting can put your business in peril. This is a relationship business…face to face and voice to voice is necessary to build a trust based relationship. Don’t get caught hiding behind the convenience of technology…if you are hiding, you may be missing out on a substantial amount of referral business.
The best time to ask for referrals is when speaking with a referral source. Find more reasons to get in front of those most likely to refer you business.

Goal Setting
If you need to make $75,000 to exist… you are not thinking big enough if your goal is to make $75,000… You must dream bigger than the amount you need to cover all your bills and eat, (food is always nice with your meals), you must create a plan to cover your business expense as well (dues, fees, advertising, MLS, prospecting, gas, and yes TAXES...)
An individual who requires $75,000 will need to set a goal to gross somewhere around $105,000-$115,000 depending on your expenses and tax brackets.

As a final word….Do something today your future self will thank you for.

Eddie Brown
Need Coaching?  Call 919-785-4201