Four Rules of Real EstateWritten by Dirk Zeller
Recently I was reflecting on what it took to be successful in real estate and life. My mind recalled a movie from early 1980’s called Buckaroo Bonzai. One of characters in movie had a saying that caught on in my circle of friends at time. The saying was “where ever you go…there you are.” Now it was a cute little saying at time, but truth is most of us have to struggle to live it. How many times have we gone to show a property, list a home, go to work, spend time with our family, and we weren’t really there? “Where ever you go…there you are.” But are we really there? We are certainly there in physical body, but are we mentally there? Let me share with you four rules of real estate. 1. Be there. This rule means to show up on time. Being on time to a listing appointment can often mean difference between getting listing and not getting listing. It means preparing before you go on an appointment so you are ready. Being there also means treating your real estate career like a real job. Show up at work everyday at same time. My day started at 7 a.m. during my sales career. It was very rare for me not to be in office at that time. 2. Focus mentally. Focus mentally means to be in moment with intense concentration. The better you focus mentally more results you will get for your time invested. If you need to listen to client…focus on what client is saying. If you are formulating your answer or response, you are not listening to client. Learning to focus is one of most valuable skills you can acquire. Focus always comes before success. Focus means to pay attention to what is happening around you, to pay attention to details of success. It is usually a small thing that separates success from failure. Just ask United States women’s soccer team or better yet, ask China. One penalty kick made difference between first and second place. The difference between number one PGA tour player, Tiger Woods, and number 150 is about one stroke per 18 holes and over four million dollars in earnings. Focus mentally in moment you are in. 3. Tell truth. In every situation tell truth. Agents are often given opportunity to tell people something they don’t want to hear. For example, their home is worth $150,000, but seller wants $165,000. What do you do? Many agents will take listing at $165,000 and deal with $15,000 price reduction later. My belief is to tell truth. You may not get listing, but at least you will know you were honest. Too many of us hedge or shade truth. Understand there will be a time of reckoning. It may not be now, but it will come. It may be when market slows and you have a bunch of listings that will not sell. Remember truth will set you free.
| | Creating Daily Success in Real EstateWritten by Dirk Zeller
The journey to a successful life should be enjoyed. True success comes from accomplishing activities daily that will lead you to your ultimate goals in life. Failing or neglecting to accomplish daily disciplines will lead you down path of lost opportunities and lost income. If penalty for not accomplishing your daily activities or disciplines was implemented or assessed today, we would look at neglecting them differently. The truth is that penalty for neglect is more visible in future than it is today. The person who eats fried foods does not pay penalty at 35, he pays at 55. The person who fails to save 10% of his income for retirement is not penalized at 40, but at 60. The prospecting we fail to do today does not hurt our income today, but 90 to 120 days from now. If we were zapped today from neglecting daily disciplines rather than in future, our daily disciplines would change. We need to associate pain today with not doing our daily disciplines in real estate business. We have to make neglect more painful than activity pain. The truth is we have a tendency to move away from pain and towards pleasure. There are three disciplines that must be done daily in real estate for success. They are working on growth, administration, and working ON your business. Let’s look at each individual area comprehensively. Growth: Growth is part of business that brings in revenue for your business. The more time you spend of your day in growth, more income that you will make. Most agents focus little time on growth activities daily. They work on growth activities at last minute, when they are running short on funds. The problem is that is too late. To have a steady business income you need a steady approach to growth. Growth is prospecting that you do daily. It is listing appointments that you have for day. It is lead follow-up that you are doing on people who want to buy or sell. It is meeting with your lender to work on your competitive advantage in marketplace. Growth is critical part to any business. Without growth a business will fail. I know a lot of agents who are highly skilled in growth and poorly skilled in administration and working on their business who earn large amounts of money. I know of very few successful agents who are not highly skilled at growth. You can have huge deficiencies in administration and working on your business but still win game. You can not be deficient in growth and win. My focus is to help our clients achieve a high level of skill in all three areas. Growth is engine that powers train; you must first pay attention to growth. Growth demands a minimum of three hours daily in activities of growth: prospecting, appointments, lead follow-up, and meeting with affiliates. Prospecting should comprise 65% of growth time daily. If prospecting does not happen, other growth areas will wither. Remember higher hours spent on growth, higher income and profit.
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