–Decline– production falling year over year
–Static– about the same year over year
–Marginal-slight increase year over year
–Growth– a 20% increase year over year
–Multiplier– 20-50% growth
–Accelerator– Doubling your production
Did you hit your goals?
Did you make enough money?
Did you take enough time off?
Let’s plan to make the last 6 months of 2013, your best year ever!
In my 24 1/2 years in Real Estate, I have found most agents will fall into six categories. I have listed them all below, along with my recommendations of what you could do to make the next 6 months your best ever,
1. Decline– Agents in decline feel overwhelmed by change, are looking back to the “good ole days”, and occassionally get lucky and get a transaction. There biggest challenge is that they are spending 0% of their time in their Unique ability, looking for greener pastures, and always finding what is wrong( or finding someone to blame) in the business, instead of what is right.
Recommendation– Make a choice…either get out of the business….or get in to the business.
2. Static– Agents in “static” are overwhelmed by change, and choosing to deny that they have a mindset problem.
Recommendation– Change happens, and our industry will continue to change in the future. Choose to get inspired and change what is entering your brain. Remember “garbage in-garbage out”. There are thousands of Buyers and Sellers out there who need your help to safely navigate them through the buying/selling process. Commit to lead generation in your sphere of influence, attend great coaching and training.
3. Marginal Growth– Agents in this category are usually” workaholics’, they have occasional rituals, but work like a dog.
Recommendation– Be open to coaching, get some outside “eyes” on your business that can help you self-discover some effective strategies and systems to help you make more money, in less time! Another way of looking at this is to focus on what your unique abilities are, and spend 80% of your time doing only those things that add value to your clients, your team and your business.
4. Steady Progressive Growth– Agents are thriving here and spend at least 50% of their working time in their unique abilities. They are focused on the top 20% of the business(negotiating offers, Buyer consultations, Listing consultations or showing properties), and spend at least a few hours per week attending training and working “on” their business, instead of just “in” it.
Recommendation– Start to either build, or add to your team a pool of great talent that will take your business to a new level. The more you leverage the 80% of the “stuff” in Real Estate, the more time you will have to stay in your top 20%.
5. Acceleration– Agents here are spending at least 75% of their time is their Unique Ability and are continuing to surround themselves with great talent.
Recommendation– Always be on the lookout for great talent to join your team. Even if you do not have a “spot’ open on your team, approach talent and start building your bench. Make exploratory phone calls and ask them if they would like to be a candidate for a position on your team. Also, focus more on putting great systems into your business and make it more systems dependent, instead of people dependent.
6. Multiplier– Agent in this category spend 100% of their time in their Unique Ability. They have great accountability coaches and earn a 7-figure income. They focus a lot of their time on building a great supporting network of allied resources and are all about having great quality people on their team.
Recommendation– Start, or continue to look for opportunities for your team. Start building other businesses for both your team and yourself. Focus on building “horizontal wealth (numerous buckets of money, or pillars of businesses) instead of just your GCI or vertical wealth.
4. Get to know your clients better
It’s about them, not you. When your client succeeds at a really high level, so do you!
What do they need right now from you? What are they thinking about? What keeps them up at night? What would be a dream come true experience for them right now? What is the one thing that you could do to “blow them away” right now?
5. Its all about your mindset.
90% of real estate is mindset. In fact, I believe that building a great real estate practice is about your own personal development. Personal development leads to Business development. What can you do internally, to get others attracted to you externally?
We are all energy. Negative energy attracts negative energy and people. Positive mindset and energy attracts great and positive people. You are who you attract. Momentum in this business is everything. When you have it you look better than you are. when you don’t have it you look worse than you are. Great momentum causes deals to “fall on your lap”, lack of momentum causues every deal you are working on to fall apart.
Great mindset + Great skills and knowledge + Great energy = Great clients and an awesome business.