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?

 

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