CRM – JP & Associates REALTORS®
 
5 Ways Not To Be Broke On January 1

5 Ways Not To Be Broke On January 1

There are 84 days left in 2019 and 60 productive working days, depending on how many days you work, how many holidays you celebrate, and so on. Regardless you have about 84 days to wrap up 2019. 84 days!

What will your bank account look like on January 1 of 2020? Is it your desire to have a more significant bank account or a smaller one? Whatever your goal is, NOW is the time to make that happen.

The next 60 days will be critical for setting yourself up for strong close to 2019 and a fast start to 2020. What you do in the next few days and weeks will determine the size of your bank account on January 1 and your momentum for the first quarter of 2020.

CHALLENGE 1: What would happen to your business if, for the next 20 working days, you made one new appointment each day?

Let’s face there are two types of agents today: hobbyists and CEO’s. This article is not for hobbyists, those part-time agents who dabble. For those of you that run your business like a business, those of you that know your daily number and know what it takes to generate one sale, then this article is for you.

CHALLENGE 2: Get clear about the next 84 days:

  • Write down the number of sales you’ve made so far this year.
  • Write down the source of those sales.
  • How many listings will you earn between now and the end of the year?
  • How many additional families or investors do you want to serve between now and the end of the year?
  • How many contacts do you need to make to drive that number
    • One rule of thumb is 40 contacts to 1 sale.
    • Who are they, and how will you go about connecting with them?
  • What systems do you have in place to create the result you desire?

After completing the quick exercise above, here are 5 actions you can take so you’re not broke on January 1:

  • Decide Now. Decide now how many days you will work, how many days you will be off, and how many “flex days” you’ll have between now and the end of the year. Decide what direct response marketing campaigns you will run. For example, if you will create an investor campaign to take advantage of year-end investment buyers.
  • Up your CRM game. There is no excuse for not having your CRM updated and working for you. It takes discipline; yet once you realize your CRM is the engine that drives your train, that task becomes less negotiable.
  • Delegate. Is it time to find some help? An office or virtual assistant. Your highest and best use is prospecting.; lead generation; going on appointments and negotiating contracts. Everything else delegate. Scared? Get resourceful, many new agents I know are sharing a fractional assistant to split cost yet keep them fully employed.
  • Diversify your lead generation sources. Too many struggling agents rely on ONE, maybe TWO lead sources. FOUR sources of business – split between influence strategies and control strategies – provides diversity and stability to your real estate practice. Note, don’t add four sources all at once. Start with one new source, get it working and stable then add another until you reach four sources.
  • Target Market Clarity? Any market rewards the hyperlocal expert. Are you an expert in a community? Are you an expert in a profession like Nurses, FBI agents, CPA’s? It’s probably time to get hyperlocal and specialize.

So, I’ll leave you today with three final things to consider: 

  1. Knowing what you know now, what immediate adjustments do you need to make?
  2. Cash is king. Are you building your cash reserves? Are you reducing bad debt? Investing in marketing? (Hint: You can do all 3.)
  3. Have you started a small weekly accountability group with like-minded, goal-oriented CEO’s like yourself? If not, what’s holding you back? 

Disrupting the Disruptors!

Disrupting the Disruptors!

“If you’re trying to disrupt the status quo and beat bigger competitors, you’re not going to do it by playing their game.”

~ Dharmesh Shah, OnStartups.com

Today I’m preparing for a panel I’ll be sitting on later this week… “Why Technology Is Ruining Our Industry!”  Like all great media, the title is controversial and attention-grabbing. I certainly don’t believe that technology is ruining our industry… how we are using technology is. Let me explain. 

Despite extraordinary amounts of investment in real estate technology, the average per person productivity and the median gross income of the real estate professional has declined. Productivity and income have declined at both the National Association of REALTORS® level and at the Real Trends top 500 firms.  

Why? 

Too many real estate sales professionals think the main service offered is access to technology and data. When in fact, the real service is personal service and counseling. Translating what the data means and how technology can make the process more efficient is what distinguishes JPAR agents from the average agent.

So how can you be more personal and more consultative to 100’s of people at a time? Consider video and well-crafted email campaigns. 

It strikes me that – according to research –  at most 28% of active real estate professionals use technology like a CRM (Customer Relationship Manager). Yet REALTORS® making $150,000 or more had a median of 31 percent of repeat business from past clients and 29 percent of business through referrals from past clients. One common trend of those REALTORS®  – the 28% from the survey – they effectively use a CRM technology to drive business.  

Another solution to consider is video. Video technology allows you to disrupt the disrupters by going hyper-local and direct. Connecting more frequently, becoming locally familiar by sharing relevant hyper-local insights, news, and trends. No longer new media, hyper-local video is the time-tested way to build trust and trust leads to goodness. Only 8% of REALTORS® currently use video, so it’s a significant point of differentiation. 

What makes you stand out from the crowd?