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.
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
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:
- live in the same place for years and years where everyone knows you
- 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.
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)
Find additional commentary on this topic at Brian’s site, The Real Estate Trainer.