Whether you have been in the business 70 days or 7 years, I often hear the same questions:
- What do I do now?
- My lead generation is inconsistent!
- How do I get better organized?
- What’s my purpose?
So, here are a few suggestions to consider as you start this week:
First, who do you want to be 90 days from now?
It all starts with deciding what you want to achieve in the next three months. Have you created very clear, specific, measurable, and trackable goals? Are they up and visual as a constant reminder?
My research shows there are three types of goals:
- Outcome goals – I want to be #1
- Performance goals – I’ll run the race in 8 minutes or less
- Process goals – I’ll connect with 10 people a day
Process goals win the day. Over 650 studies in goal achievement show that people who break their goals down to a daily process achieve the goal faster and more consistently.
Action #1: Break your goals down to daily actions
Second, understand where the business comes from.
The National Association of REALTORS® conducted a survey that shows nearly 70% of consumers FIND you from a friend, family, referral or past business relationship. And nearly 70% CHOOSE you based on your perceived reputation, trustworthiness and results. These facts have significant implications for your personal branding and direct response marketing activities.
It’s shocking how many clients I have acquired through the years — just because I made a call or sent a message.
According to Marketing Metrics, the probability of selling to a new prospect is only 5 to 20 percent, but the likelihood of selling to an existing client is 60 to 70 percent. It’s much cheaper and easier to retain a client than to go prospecting for a new one. Studies show 90% of consumers would do business again with their REALTOR® yet only 25% do. Why? Because you suck – no systems in place – at staying in touch and building long term relationships with past clients.
Action #2: Stay in touch at least 4X per year, build relationships and the sales & referrals will follow.
Third, track everything in a database to stay organized
Make it a habit to get contact information from every person you meet. Your goal is to move folks you meet from your outer circle to your inner circle. Create a system – like this.
If you are buying a new car, get the salesperson’s card. Ask your bartender or server for their information when you go out. Every person who gives you their contact information should be placed into your database and contacted – a note; text; card; social media engagement – least 8 times in the first 8 weeks of meeting. This can be as simple as an excel spreadsheet. It should include the following
- Full name
- Email address
- Mobile phone number
- Preferred social media handles
- Your Notes
In your notes section, you will want to write in things like what the potential client is interested in, first and last time you corresponded with them and how you met them. Relationships matter and relationships create referrals in a personal service business like real estate sales.
Action #3: Take one step to get better organized
Fourth, be like Fred.
Fred Shea was a postal carrier from my home state of Colorado. Apart from the fact that he personally welcomed every new resident, he appeared unremarkable. Yet, a book has been written about him and thousands have been taught his “system” to drive purpose in their life and their business.
Fred had a purpose.
Fred demonstrated you don’t need a promotion; you don’t need anything but creativity to reinvent yourself and add value to yourself and others.
Fred the Postman was quite remarkable in attitude with a warmth and sincerity that was apparent immediately. And his dedication to serving his customers made him extraordinary.
Daily Fred put into practice the principles that became the foundation for the best-selling book, The Fred Factor, namely that:
- Everyone makes a difference,
- Success is built on relationships,
- You must create value for others, and;
- Reinvent yourself on a regular basis.
Fred the Postman taught me that by bringing passion into our work and life we can all turn the ordinary into the extraordinary.
Action #4: Be like Fred!
As we wrap up, I have no control over what you do with this information – nor do I want that control. Yet the gift of what I shared today, has helped me in so many ways, and I trust this gift will help you too. So, until we meet again may your choices reflect your hopes, not your fears.
Bonus Action #5: Accountability… who is your accountability partner?
As we celebrate Memorial Day, as we honor those who have fallen, we are reminded that freedom isn’t free. One of my traditions about this time each year is watching “Taking Chance.” A touching story about one marine escorting a fellow marine on his final trip home.
Another movie came to mind: “Rudy.” Rudy is a true story about persistence, tenacity, grit, and football. A football game isn’t won on the field. The game is won in the days, weeks, and even months leading up to the actual game. The game is won in preparation. Watching films of previous games, memorizing plays, hitting the gym, eating correctly, and even getting enough sleep.
Professional real estate sales is no different.
I’ve been spending some time with our top 1% documenting what they do. Curious?
Here are the top six things our top 1% do consistently:
- They do their research & marketing.
- They’re genuinely interested in and understand others’ personality style.
- They’re prepared for anything, especially the objections and most frequently asked questions.
- They leave their ego in the car.
- They are a master of managing expectations.
- They debrief and learn from every situation.
Research and Marketing
We know from the National Association of REALTORS® that 63% of consumers find us through a referral from a friend or a past business relationship. And 68% of consumers choose us based on our perceived trustworthiness, experience, and reputation.
Top producers know these numbers and invest their time, energy, and effort into where the business is most likely to be generated.
What we have observed from top producers to those struggling is glaring. Top producers genuinely care about the relationship while those struggling care about making a buck.
We use a unique system called B.A.N.K. to pinpoint anyone’s personality in nanoseconds. It’s fun, engaging, and creates instant rapport. Crack your code now, it’s easy: www.jparcode.com
This high emotional intelligence approach leverages the best assessment tools, high-energy training, and cutting-edge technology to maximize results.
Leave Nothing To Chance
Our top performers rehearse or role-play frequently; many do this every day! Here are some tips I picked up:
- Make a list of every question, concern, or objection that your prospect might bring up. Create a list of everything that could go wrong.
- Develop a clear, logical, and persuasive response to every possible question, concern, and objection.
- Think of how you can get ahead of these circumstances by using stories and anecdotes, case studies and testimonials, statistics, and facts.
- Have your information, ideas, and documentation well organized so you can reference the appropriate notes and materials at any time.
Gary Vaynerchuk put it well: “When you care more about the other person than you care about hitting your quota – when you make that shift – you go into the Jedi-ness of becoming a great salesperson.”
The professional real estate salesperson with a massive ego can easily mistake refusal with rejection. When you make this mistake, it’s all too easy to take it personally. The truth? Far more people will say no than say yes.
So, how do you deal with this?
Our top 1% have learned not to internalize rejection. Top performers exert power over their emotions and know this is a critical skill to master.
As the Chief Executive of a large organization, I get the problems that others have not solved. And literally, I’ve been tracking these and guess what – they all have a common root. Uneven expectations!
Many things have to happen, often in a specific sequence, before a transaction closes. Do you know what these things are? Do you know where you’re at in the process with each client, prospect, and partner?
- Seek to understand what has come before each step
- Don’t assume everyone knows what will happen next
- Anticipate needs before others
- Communicate constantly and clearly
- Under-promise and over-deliver
Debriefing is a structured learning process designed to evolve plans while they’re being executed continuously. It originated in the military as a way to learn quickly in rapidly changing situations and to address mistakes or changes in the field. Infact I shared this document with my team – glad to be here – after the Blue Angels flew over Dallas.
In business, debriefing has been widely documented as critical to accelerating projects, innovating novel approaches, and hitting challenging objectives. It also brings a team together, strengthens relationships, and fosters team learning.
Our top producers have this concept mastered and execute this discipline more often than others. As such, these high performing teams are more tight-knit than those who don’t.
The game is won or lost way before you step on the playing field. So, before you play in sales again, do your research, be genuinely interested in others, be prepared for anything, leave your ego in the car and become a master of managing expectations. Finally – just like the Blue Angels – debrief and learn from every situation.
Sports or business, understanding your “mental state” and the balance between your left and right brain is the key to peak performance. Watch this: “Brainy Putting” by clicking here. It’s a 13 minute video yet well worth viewing.
What implications do you see in your business or sport?
A few to consider:
… thoughts precede motion
… visualize what you want
… have a clear target
… choose confidence over comfort
… being in command (in charge implies confidence) is better than being in control (trying to ensure an outcome)
… replace your (self talk) old tapes with improved (self talk) new tapes