At the beginning of the New Year, it’s always time to get out the Crystal Ball, Tarot Cards, and Ouija Board for the forecast. And since I know next to nothing about politics, weather, financial and stock markets, I’ll speak to real estate.
What’s old is old again –
Agent success can be compartmentalized. Before I do so, let me share with you how I define success. My definition is borrowed from my mentor, Michael Vance, who says, “Success is the building and maintaining of Spiritual, Physical, Psychological, Physiological, and Financial Goals.” Furthermore, financial does not mean Mega Bucks. If an individual has a goal of $60,000 or $600,000 per year, that’s just fine.
Now let’s look at the compartments.
70/20/10 for the last 20 years these numbers have represented the percentage breakdown of all associates. I know you’re wondering if this includes part time. My belief is there is no such thing as ‘part time’ – there is instead ‘Productive’ and ‘Non-Productive’ associates. Who cares how many hours they work or if they have an additional income, as long as they are productive. So here are the facts:
70% of all associates earn less than $1,000/month.
10% of associates close 85% of the transactions.
And 20% divide up the rest of the fees.
What’s old is new again –
When I began my real estate career, my broker said, “Here’s your name badge and 1,000 business cards. Wear the badge and pass out cards at church, Jr. Chamber meetings, around town, at the grocery store, when you go out to eat, go to the movies, at the PTA, all social gatherings, and NETWORK. Gee, I guess that was the previous definition of social networking.
For the first 30 days, I did exactly what my broker had directed. The problem is that people began avoiding eye contact, shunned speaking to me, and basically ran and hid when they saw me coming. So I quit. It didn’t take a mental giant to figure out that others were not quite as excited about real estate as I was. Actually, strangers became easier to work with than friends and family.
I then began to prospect FSBO’s and expired listings, started farming a specific neighborhood and working referrals from clients – again Social Networking.
What’s new is old again –
Social Networking is not new. However, the method of execution is new. Don’t worry about which social networking tool to use, use them all!
“Oh no, that’s another job.” I understand. However, it beats knocking doors. Oh, and by the way, if you’re knocking doors –don’t quit! You have no competition!
Expedite your Social Networking involvement by being visible on Facebook, LinkedIn, Twitter, and Instagram.
All you have to do is monitor your accounts for friends and followers you don’t want. Personally, I block anyone who sells on these sites.
What’s new is new again –
Selling is not what you do when networking in person or on Social Media! Just like in the 1900’s armed with name badge and business cards when you were pushing your way around – others avoided you. Social Media is used to develop a persona. Who would you do business with? An egomania mega sell/sell/sell agent who uses the platform to advertise, market, and spam or a self-aware businessperson with varied interests, love of family, and successful practices. Who didn’t know which one most would pick?
Whiners are simply the 70% who won’t change, won’t work, won’t learn, and won’t read this blog. Whatever! We can’t worry about them. I’ve spent years attempting to wake them up and nada. Because of our changing economy, they only want to whine about how bad it is. Too bad the media listens to them, but after all, they are the Majority.
Flexible, positive, information seekers, willing to quickly move in new and different directions, as ‘No One’, I repeat ‘No One’ has all the answers to the real estate market.
Winners know you don’t just change the old – you throw it out! Just like the disappearance of dial phones, they have thrown them out; floor duty, newspaper ads, yellow page ads, office tour, Sunday opens, brochure boxes, flyers to real estate offices, photo business cards, email address that’s not branded to you, ego websites, and techno reluctance.
Have an excuse for everything! Locked in fear, they stand still like a deer caught in the headlights. And don’t think it’s just the associates in the twenty percent category, it’s the ten percent category as well.
As Vince Lombardi told us, “Fatigue makes cowards of us all.” Associates have made so many changes in the last two years that they feel they can’t make any more. Fatigued and frustrated by technology and its constant demand of attention and training, they give up. Yes, many who were ‘top producers’ are saying Uncle and retiring.
Why ‘Wieners’? Like the filling of an Oscar Meyer, they have reached their limit and refuse to break the casing that binds.
Now go take on the year with positive persistence and the knowledge that Things Just Don’t Gotta Get Better – YOU DO!©
Things Just Don’t Gotta Get Better – YOU DO!© Is a presentation of ROSSI Speaks, call 919-931-2244 or email Speak2Me@RossiSpeaks.com for available dates and fees.
This Post Has One Comment
Jim Flanagan6 Mar 2011
Love and agree with most of this! I do, however, believe “Winners” can, and are, still “winning” at SUNDAY OPENS, at least in our market area. If I were a “producing agent” today, I would be using the latest technology to maximize the potential ROI of a SUNDAY OPEN…namely; having my guests register on my IPAD, streaming and tweeting from the OPE and blogging about my OPENS because the Good Lord knows, 3 hours of FACE-to-FACE time with people provides plenty of blog fodder.