How To Focus Your Real Estate Business

I’m a sucker for the “latest and greatest” shiny new object.

The benefit to that addiction is that, when I find a “winner,” I’m ahead of the curve on that topic because I was one of the first to try it out.

The downside is that I’m often chasing things that turn out to be losers, waste my time, don’t apply to real estate, and just generally shatter my focus.

So, this year, I’ve already begun a very concentrated effort to focus my real estate business on just a few things that have either worked for me previously or have shown strong potential.  Everything else is getting less of my attention – a lot less.

The way I’m doing that – and the way I’m focusing with laser-like targeting – is just to turn everything “off” that doesn’t help me get to my goals.  I’m looking at things in a very black or white manner.  Either they clearly help me or they clearly don’t.

focus on your real estate business

The first thing I’ve done is to eliminate much of my email.  I’m on a ton of real estate and marketing email lists and decided to weed out everything that doesn’t provide a ton of consistent value.  To do that quickly, I created an account with unroll.me so that I could easily unsubscribe from any email senders I didn’t want any longer.

The next thing I did was to go through all my marketing efforts over the last few years.  I evaluated what efforts clearly and directly made me money.  Most didn’t, so they were crossed of my list.

Of anything that has shown potential, I prioritized how well each marketing tactic worked, what I like doing, and what I feel I can do consistently.  I was left with this real estate marketing plan.

I’m currently in the process to evaluate all my expenses from the last year.  By going through each expense, line by line, I’m taking notes on where exactly my money is going and if I can do without that particular investment in my business.  Of course, the goal to my refocusing efforts is to make more money, so it makes sense to figure out where I don’t have to spend it in the first place.

I turned off all “notifications” of emails and texts on my phone and computer.  These are notorious drains on your ability to focus on one thing.  I don’t hear any sounds or see any pop up notifications any longer.  I have to manually go and check for new messages and I’m trying to do this only sporadically throughout the day.

My office is super clean, too.  I took some time to throw away a lot of papers and items that I know I’m just never going to take the time to look at or read.  A clean office is an efficient office.

I’m getting better at planning certain times of the day for certain activities.  In an interview I did with Brian Icenhower, a lot of what he suggested that separates top agents from everyone else is their ability to build lead generation activities into their day just like any other scheduled appointment.

My days are not perfect and I’m not expecting that they ever will be.  But focusing my real estate business in the ways mentioned above has already started to increase my productivity and happiness.  I’m going to continue to forget about the 80% of things that drain my focus and concentrate on the 20% of things that make me productive.

How about you?  How do you stay focused in your real estate business?

 

26: Is Being A Real Estate Agent Fun?

As a former recruiter helping people find jobs, I met with people every single day and listened to their story of why they wanted to change jobs and what they were looking for in a new one.  There were always the necessities of what people had to have, such as a certain salary or job location.

But, when it came down to it, what I found most people really wanted in their job was simply to be interested in it.  They wanted to like their jobs and not dread the 8-10 hours a day they were putting in.

In other words, most people just wanted to have a little fun in their jobs.

If you’re thinking of becoming a real estate agent, you’re probably wondering how you might like this type of role and if you’d have any fun doing it.  So here are some things you should consider regarding what being a real estate agent entails.  If you don’t think these types of activities are fun, then you probably won’t think being an agent is very fun, either.

real estate agent fun
 

1.  Love Helping People

Being a real estate agent is WAY TOO HARD if you don’t enjoy the aspect of helping people.  If you’re in it strictly for the money, you’re probably not going to put in the amount of time and effort that is required when things get tough.

For example, when a deal is headed south, when negotiations seemingly come to a stand-still, when your client unpredictably changes his mind, or when you get an “urgent” call at 10:30pm on a Saturday night, it’s often hard to see the light at the end of the tunnel.  But knowing that your actions will help your clients is often the motivation that will keep you going.

2.  Thrive On Pressure

When you’re dealing with customers who are spending all the money they can afford (no matter if that’s tens of thousands, hundreds of thousands, or millions), they expect you to make things happen the way that they want them to.  There’s a ton of pressure when your client expects you to sell for way more than the market will bear, when your client wants that 600K home for 500K, and when the inevitable unexpected wrench in the works pops up in the middle of the deal.

If you don’t love pressure and people relying on you, real estate is not going to be fun.

3.  Work Independently

Some people can work independently without supervision and some can’t.  There’s no right or wrong if you’re one or the other.  But you need to recognize which you are.

If you’re not fully able to get out of bed in the morning and do what you need to do with the proper priority without someone watching over you and making you do it, each day is going to be tough for you.

4.  Run A Business

Yes, you’re a real estate agent.  But, you’re also more than that.  You’re also a full-fledged business and you need to think about operations, marketing, accounting, client relations, customer follow up, goal-setting, prospecting, and a ton more.

If you are looking for a 9-5 job where you can clock in and then clock out and forget about the day, then being a real estate agent may not be very fun.

5.  Prospect For New Business

If an agent is going to fail, it’s probably because of a lack of prospecting.  The bottom line in being a real estate agent is that you need to always be hunting for your next deal.  It’s how you put food on the table.

If you’re afraid of reaching out to new people or, worse, you found this type of activity to be downright dreadful, then being a real estate agent surely is not going to be fun.

Remember that different agents to all types of different kinds of prospecting and you don’t have to love every type.  For example, I hate cold-calling people primarily because I did that for about a decade in my recruiting job.  I just don’t love that type of outreach.  However, I am all about digital and online farming and prospecting.  That’s what interests me and that’s what I’m good at.

You couldn’t pay me to pick up the phone and dial for dollars, but I love putting together facebook ads and doing webinars.  That’s the type of prospecting I do and how I get a lot of my business.  To me, that’s fun.  If you have some type of prospecting that you consider fun, then you’ll have a much better chance to succeed in this business.

How about you?  If you’re thinking of becoming a real estate agent, which of these 5 topics do you think you’d have the most fun with?  If you’re a current agent, what else do you think you need to consider for real estate to be a fun job?

 

20: What Separates The Top 5% of Real Estate Agents From Everyone Else – Brian Icenhower

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Summary

Brian Icenhower is an amazing real estate trainer, manager, agent, and more.  He shares what separates the top 5% of real estate agents from everyone else.

brian icenhower real estate coachProfile

Guest:  Brian Icenhower

Market: Kansas City

Steal His Ideas:

  • Top agents consistently lead generate every day
  • Timeblock your day and don’t let yourself be disturbed
  • If you want buyers, get listings
  • An administrative assistant is a great first person to hire in your business

Strategies

It’s the very rare agent that consistently and proactively lead generates for even 1 or 2 hours a day.  But it’s these agents that make up the vast majority of all real estate sales.

Avoid the real estate roller coaster by generating leads each day.  Don’t just transact the business you have and then start all over with the lead generating once you’re through.  Instead, block time to do something each day that gets you closer to having a new client.

There are two ways to work in real estate:

  1. live in the same place for years and years where everyone knows you
  2. for everyone else, you need to timeblock your day to get new leads (usually, do this in the mornings)

If you’re working more than 65+ hours a week and you’re not closing 45+ transactions, you probably either have a time management problem or you’re working with a ton of buyers and few sellers.  You can handle 4X as many listing sides than buyer sides at the same time.  So, top producers are always on the listing side.

So as to not “bother” the general public when you’re prospecting, always tie the reason you’re contacting them into providing them some type of value.

When marketing a listing, try and tie your activities in with opportunities for you to get business at the same time.  For example, when calling neighbors of a listing, make part of your conversation about if they are looking to buy or sell anytime soon.

If you’re looking for business right now, the easiest and first thing you can do is gather everyone you know and put them in one place where you can easily access their info to contact them regularly.  Constantly be building this referral base of people.

The best use of an agent’s time to get the quickest conversions is by calling for-sale-by-owners and expired listings.  That’s because you know they want to sell their home right now.

Scripts are important.  Top agents know that, whether you use someone else’s scripts or your own, you’ll eventually start saying the same things that you know will work.

Every agent can benefit from having a website and other online marketing materials.  When potential customers come to check you out online before they hire you, they want to see a reputable and professional online presence.  However, the core to all your activities starts with proactively contacting people.

When you consistently do not have time to prospect for new business, that’s about the time to hire someone to help you out.  Typically, this will happen when you reach about $6 million a year.  The person you hire should be an administrative assistant, not a buyer’s agent.  This person can actually help you make more money than when you’re by yourself because you have more time to do more important revenue-generating activities.

brian icenhower real estate interview

Lightning Round

What’s the worst marketing you’ve done that others should avoid:  Broker open houses

What keeps you motivated:  Be of service to people

You’ve got 30 days and $1000, what do you do:  Preview properties, knock doors around listings, buy a subscription to a database of FSBO and expireds and start calling people

How You Can Do What He’s Done

Here are the only things a top-producing agent should be doing:

  • generating leads
  • negotiating contracts
  • going on listing appointments
  • showing property
  • (everything else should be done by an administrative assistant)

Resources

Find additional commentary on this topic at Brian’s site, The Real Estate Trainer.

Cole Realty Resource

Real Estate Scripts

CallFire

Mojo Call Dialer

Vulcan 7

 

2: How To Have Amazing Work-Life Balance In Real Estate: Albert Garibaldi (part 2)

Summary

albert garibaldi, real estate agentAlbert Garibaldi sells a ton of homes while still having a life.  Yes, it is actually possible to have balance.  However, the balance requires a ton of discipline and this is how he does it.  This is the second of two episodes with Albert.   You can find part one here.

Profile

Agent:  Albert Garibaldi

Market: Silicon Valley area

Steal His Ideas:

  • Create balance in your life to be successful in business
  • Consistency is the key to success
  • Commit to 2 hours a day to follow up with past clients
  • Commit to 1 hour a day of lead follow up
  • Be a “connector” and “facilitator” in your role as an agent
  • Make discipline in all areas of your life part of your job description

Strategies

Albert’s discipline in all areas of his life contribute to his success.  He commits to having health and balance at all times.  Each day, he makes sure to take part in family activities (brining kids to school), in his health (he makes working out part of his job description), and in his business (constantly lead generating).

With each call, add value, bring passion, help people out.  Do that with each call and you’ll get “truckloads” of a return on your investment in time.

He is constantly going after it.  He says “don’t wait!”  Social media (etc.) is fine and good, but he gets business from being in the driver’s seat and making things happen by picking up the phone.

When you have a consistent schedule every day, you can be in the driver’s seat.  When you connect with people day after day, you can choose who you want to work with because you’ll have more business than you know what to do with.

Albert cringes when someone calls him a great “salesperson.”  Instead, he hopes people think of him as a great “leader.”  He feels that a leader is much more of what a successful real estate agent is.  That’s because a great leader has the courage to ask the tough questions that help his clients get the true results they’re looking for.

Be able to shift your state of mind when speaking with clients.  Understand the 4 types of personality types so you can mirror match their behaviors and thought processes.  He calls this being an “award-winning actor” and takes it extremely seriously.

The number one reason people hire him has nothing to do with his success.  It’s that he is honest and has passion.  People believe that he loves what he does and it makes them want to trust and like him.

When taking listings, don’t compete on “this is what I do for you.”  Instead, compete with your passion, enthusiasm, knowledge of the market, and being able to price so that a house can sell at the absolute maximum price without lingering on the market.

Lightning Round

What’s the worst marketing you’ve done that others should avoid:  [this is a first:  I didn’t hold Albert to answering this because he crushes it so big with phone work that he doesn’t waste time with things that don’t work as effectively as that]

What keeps you motivated:  To be a part of his clients’ journey of life.

You’ve got 30 days and $1000, what do you do:  First, go find a great broker that gives you value and teaches you.  Don’t shop the splits.  Understand their training and accountability systems so you can have long-term success.  Second, start with 100 people who you know and stay in contact with them every month.  These are your supporters who can help you get started.

How You Can Do What He’s Done

Each day, commit to doing “family work”, then “personal work”, then “work work.”  There must be balance in your life to truly be successful.  Discipline is the key to making all this work.  Schedule everything into your day.

Be a great leader, not a salesperson.

Get focused on listening and be in the right state of mind to match the behavior of the person you’re speaking with.

Resources

The Power of Charm book

Albert Garibaldi’s website