Four Rules of Real Estate

Written by Dirk Zeller


Recently I was reflecting on what it took to be successful in real estate and life. My mind recalled a movie fromrepparttar early 1980’s called Buckaroo Bonzai. One ofrepparttar 127142 characters inrepparttar 127143 movie had a saying that caught on in my circle of friends atrepparttar 127144 time. The saying was “where ever you go…there you are.” Now it was a cute little saying atrepparttar 127145 time, butrepparttar 127146 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 yourepparttar 127147 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 meanrepparttar 127148 difference between gettingrepparttar 127149 listing and not gettingrepparttar 127150 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 atrepparttar 127151 same time. My day started at 7 a.m. during my sales career. It was very rare for me not to be inrepparttar 127152 office at that time.

2. Focus mentally. Focus mentally means to be inrepparttar 127153 moment with intense concentration. The better you focus mentallyrepparttar 127154 more results you will get for your time invested. If you need to listen torepparttar 127155 client…focus on whatrepparttar 127156 client is saying. If you are formulating your answer or response, you are not listening torepparttar 127157 client. Learning to focus is one ofrepparttar 127158 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 torepparttar 127159 details of success. It is usually a small thing that separates success from failure. Just askrepparttar 127160 United States women’s soccer team or better yet, ask China. One penalty kick maderepparttar 127161 difference between first and second place. The difference betweenrepparttar 127162 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 inrepparttar 127163 moment you are in.

3. Tellrepparttar 127164 truth. In every situation tellrepparttar 127165 truth. Agents are often givenrepparttar 127166 opportunity to tell people something they don’t want to hear. For example, their home is worth $150,000, butrepparttar 127167 seller wants $165,000. What do you do? Many agents will takerepparttar 127168 listing at $165,000 and deal withrepparttar 127169 $15,000 price reduction later. My belief is to tellrepparttar 127170 truth. You may not getrepparttar 127171 listing, but at least you will know you were honest. Too many of us hedge or shaderepparttar 127172 truth. Understand there will be a time of reckoning. It may not be now, but it will come. It may be whenrepparttar 127173 market slows and you have a bunch of listings that will not sell. Rememberrepparttar 127174 truth will set you free.

Creating Daily Success in Real Estate

Written by Dirk Zeller


The journey to a successful life should be enjoyed. True success comes from accomplishingrepparttar activities daily that will lead you to your ultimate goals in life. Failing or neglecting to accomplishrepparttar 127141 daily disciplines will lead you downrepparttar 127142 path of lost opportunities and lost income. Ifrepparttar 127143 penalty for not accomplishing your daily activities or disciplines was implemented or assessed today, we would look at neglecting them differently. The truth is thatrepparttar 127144 penalty for neglect is more visible inrepparttar 127145 future than it is today. The person who eats fried foods does not payrepparttar 127146 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 neglectingrepparttar 127147 daily disciplines rather than inrepparttar 127148 future, our daily disciplines would change. We need to associate pain today with not doing our daily disciplines inrepparttar 127149 real estate business. We have to makerepparttar 127150 neglect more painful thanrepparttar 127151 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 isrepparttar 127152 part ofrepparttar 127153 business that brings inrepparttar 127154 revenue for your business. The more time you spend of your day in growth,repparttar 127155 more income that you will make. Most agents focus little time on growth activities daily. They work on growth activities atrepparttar 127156 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 isrepparttar 127157 prospecting that you do daily. It isrepparttar 127158 listing appointments that you have forrepparttar 127159 day. It isrepparttar 127160 lead follow-up that you are doing onrepparttar 127161 people who want to buy or sell. It isrepparttar 127162 meeting with your lender to work on your competitive advantage inrepparttar 127163 marketplace.

Growth isrepparttar 127164 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 winrepparttar 127165 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 isrepparttar 127166 engine that powersrepparttar 127167 train; you must first pay attention to growth.

Growth demands a minimum of three hours daily inrepparttar 127168 activities of growth: prospecting, appointments, lead follow-up, and meeting with affiliates. Prospecting should comprise 65% ofrepparttar 127169 growth time daily. Ifrepparttar 127170 prospecting does not happen,repparttar 127171 other growth areas will wither. Rememberrepparttar 127172 higherrepparttar 127173 hours spent on growth,repparttar 127174 higherrepparttar 127175 income and profit.

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