I started making a chore list for my 4 year old today. Nothing crazy...just a few 4 year old things.
1. Make your bed
2. Put your dinner dishes in the sink
3. Put your dirty clothes in the laundry
4.Pick up play room and put toys away.
What I realized was that I have been doing everything for our daughter since the day she was born. So much so that on the weekends I don't feel like I have a day off at all. I feel like I'm ordered around by a 3 and 4 year old all day every day. Short order cook, maid, playmate..etc. So responsibility was the lesson of the day...but what a I realized is that now my job is to hold her accountable to her responsibilities.
In a recent class with Mega Agents from Keller Williams, the instructor said...what do you guys need? What do you need from us to help you reach the next level in your business? A very successful Realtor stood up and said, "to take my business to the next level, I need accountability." Accountability? Really? Well ok then... let's see what accountability really is.
To perform as expected? Wow...so who set's the expectations? When I sit down with an agent and talk about their goals we often times will do a business plan or at the very least an exercise of the Economic Model from The Millionaire Real Estate Agent book. When we come to the end of the exercise it's very clear what you need to do transaction wise to reach your goals...but what you need to do to get those transactions is another thing. That's where accountability comes in. When you work with a partner, coach, Team Leader, or any other kind of business consultant that person will not only help you determine what you need to do but hold you accountable to doing it.
For me that often comes in the form of phone calls, time lines with specific things to be done and shown to me, and ongoing meetings to dicuss their progress.
The consequences of doing the tasks needed to reach your goals though is something neither I nor any other accountability partners can give you...and we don't really need to either. You are fully aware of your consequences and I'm just there to remind you.
Need a little accountability in your life? Is it easier to let yourself down than it is someone else? I'd be happy to help or point you in the direction of a great accountability partner for your business.
In the mean time I have a 4 year old that needs to learn the consequences of not completing her to do list is one less quarter in the piggy bank.
Remember...you can make excuses or you can make money....but you can't make both!
Can you believe it's December already....WOW! Where did this year go? What will 2009 hold for us, our families, and our real estate business? One of the best things we can do is prepare for the future as best as possible, have clearly defined goals, and an action plan in place to tackle what 2009 and the real estate market has in store for us and come out one TOP!!!!
So let's talk about the 3rd part of your business plan...Your Listing Analysis.
This is a pretty in depth section of the business plan so my suggestion is to give me a call or shoot me an email so I can give you worksheets to help you sort out the information.
After you have completed this portion of the Business Plan you should be able to look at your past business and get a great idea of what worked and how to build on your past successes and personal strengths.
#1 - Identify all the listings you started 2008 with and those you aquired during the year. You will want to write down the name of the property, property type, source of listing, and current status.
#2 - Once you have identified the source make a list of the sources, how many transactions came from each source, and what percentage of your business each source represents.
This should tell you where you get your listings, if the money you spend actually gets you new listings, where you should be more aggressive in your lead generation, your listing closure percentage, and any obvious discrepancies and areas that need attention.
Ok, that should keep you busy for awhile so I'll do a follow up to this post as part 2 of the listing analysis portion of your 2009 business plan.
Again, I know this was a lot of information and if I can be of any help in explaining this more of giving you the worksheets please feel free to contact me at acummins@kw.com or 614.888.1000.
Oh and if you haven't read Part 1 or Part 2 just scroll down the blog and catch up!
I hit a wall today...I mean a really big wall! There is not enough time in the day, week, or even year to accomplish all the things I need to do and all the things I want to do.
At Keller Williams Realty we stress the importance of having a business plan, doing your 4-1-1 which is a to do list on steroids, and of course living the 80/20 rule. I coach and consult with my agents on a daily basis about these things...I guess the old saying teach to your weakness comes into play here :-)
Well in a search for the holy grail of organizing my life I ran across this article on a blog called Productivity 501 and thought I would share. Read 17 Things You Should Stop Doing, i did...now I wonder can we really stop doing all the things that hold us back in time management? I mean I stopped paying my bills by check but it doesn't mean I take the TIME to pay them online either.
I have to be honest here. I've wrote about your 2009 business plan in the last couple of posts and I'll continue to write about the Keller Williams Realty MREA business plan in the next few, but I've been wondering...
As you set your goals for next year, plan your marketing, work out your conversion ratios, and try to figure out what your business will look like when you're done, have you stopped to wonder how you're going to get there?
Have you wondered who's going to help you?
Do you have the support through coaching and consulting you need?
Is the training and education brought to you enough?
Do you feel all alone or like you have a team in your corner...someone invested in your success?
If you're one of my agents I certainly hope so! It's Me!!! I'm here for you!
There's just one thing I need from you...tell me! Tell me what you need, tell me how I can help you? If you're not one of my agents tell mee too!
What can your real estate brokerage do for you to help you reach your business goal for 2009?
In the second step of creating your business plan we go over your businesses organization. If you're going to run your real estate business like a business it's first important to create your businesses organizational chart. By creating or evaluating your current organizational chart you are better able to clearly define your role and anyone else you use as leverage. For a solo agent that could be you and only you, or maybe your office staff. At Keller Williams Capital Partners we have
2 administrative assistants that help all of our agents with their mailings, loading their listings into the MLS, and most of the transactional process for your contracts.
A full time IT director who is available to help with all of your technical needs,
2 Market Center Administrators that are available to help with your contracts, billing, and accounting issues.
Do you have a staff available to you that you're not leveraging? Should you be? If so add them to your organizational chart. It will help you clearly define the roles you and others play in your business. If you have grown your real estate practice to add administrative help or buyer's and listing specialist then an organizational chart will help you,
Think about your business
How it should be organized
What your standards are for your organization and everyone in it
Who is accountable
Who is making sure things are getting done to the standards you set and if you're on track with your goal.
The second part of this section of the business plan is to review the technology you are currently using. Technology is a great way to leverage your time and money. Below is a sample list of technology that most agents use. Check out what you are currently using...and what you should be using! You can add others but taking a look at what you currently have and making sure you are using it to your full potential is a great exercise for your 2009 business plan.
Don't forget it's important to figure out how much time you are spending on activities that are not making you money...then by looking at your new organizational chart you'll not only know where you are but where you're going and what it's going to look like when you get there.
If you are interested in an excel version of the Keller Williams Realty business plan or would like more information on getting your business ready for 2009 let me know...I'll be happy to send it to you.
In our office meeting today we talked about getting your business ready for 2009. How many of you are going into the new year with a hope and a prayer? How many of you have taken the time to do a complete business plan?
One of the things Keller Williams Capital Partners consults all of their real estate agents on is starting the year with a clear goal of where your going and what your business will look like when you are done. A career in real estate is a business, and those who treat it like a business will be successful.
I've decided to take you through the business plan and help you understand the need for it and the steps to take to produce your own plan for 2009.
The first section of the Millionaire Real Estate Agent business plan is to create a personal mission statement. Your mission statement should describe
Who you are
What you do
Who you do this for
Why you do what you do
This mission statement will serve as a moral compass for your business, it will point you in the right direction for all of your decisions and when faced with a difficult one will hopefully help you choose the option that allows you to maintain the course you set out on at the beginning of the year.
So begin the process by asking yourself the following questions. Be clear, concise, and keep it simple.
1. Who am I?
2. What is it that I do?
3. Who is it that I intend to do it for?
4. Why do I do what I do?
Make it great and if you want to send me a copy of what you came up with I'd love to see it. In my next post I'll be talking about the next step Keller Williams real estate agents use in creating their business plan...ORGANIZING YOUR BUSINESS!
Our very own Mo Anderson, who is the foundation and ROCK of the Keller Williams culture, has been honored by being inducted into the CBR's Hall of Leaders. The CRB is the Council of Real Estate Brokerage Managers and is a not-for-profit affiliate of the National Association of Realtors. Mo was given this prestigious honor at a dinner reception at the NAR conference in Orlando, FL. Mo is on the cover of this month's Real Estate Business magazine, and you can read the article by clicking here. Congratulations Mo!
Another focus of this year's NAR convention was a class taught by Gary Keller, co-founder for Keller Williams Realty. Gary spoke about is new book SHIFT and how the tactics outlined in the book are sure to help any agent through any SHIFT in the market place. I myself didn't have the privilege of attending this event but was sent multiple texts about the session, before, during, and after. It's always a pleasure to listen to Gary speak on any topic, but this topic is less about Gary speaking and more about LISTENING. Gary always spends a lot of this time speaking with agents out in the trenches, and by keeping in touch with agents at Keller Williams Realty during leading up to and during this time in our industry he knew just what we needed. And he DELIVERED!!!!
If you havn't had a chance to read this book it comes highly recommended and not just by me! Agents in our office have been reading and following the 12 tactics of SHIFT, they've seen improvements in their business, but they have also gained the piece of mind that when the market corrects itself, they will come out on TOP!
I want to congratulate all of the agents at Keller Williams Capital Partners on their diligent efforts and their tireless work in tackling this tough market!
Sometimes I want to be both!!! But then I do something stupid like write an entire blog and then delete it or send a mass email but forget to send it to the recipients as a bcc: (my agents love this by the way, especially those reading my emails on their phones). Well no one is perfect but I think we all strive to do our best.
Cary Sylvester with Keller Williams Realty International just sat down with WEB 2.0 TV and discussed how Keller Williams Realty is always striving to give us the best and most up-to-date technology. It's a great clip and you can access it by clicking here.
It seems to me that we are always getting these great informative emails from Keller Williams about new technology they are bringing to Keller Williams real estate agents and how we can log on to this webinar or that conference call for training on the latest and greatest. Now don't get me wrong...I love it, and am grateful that our agents get the best of the best ahead of the curve, but sometimes I get a little bogged down in what I should be using or what I should switch to, and don't even get me started on how fast we work around here to bring all this information to our agents at Capital Partners. So here's my question...
What's the best piece of technology you use from Keller Williams or your brokerage to help your business?
and
What would you like to see them add in the future...(oh by the way, a little birdie told me that someone in Austin reads this blog every once in awhile)?
Ok, second tactic in Gary Keller's new book SHIFT, is Re-Margin Your Business - Expense Management. I'm not going to lie...I struggle with this!
At Keller Williams Capital Partners realty in Worthington, Ohio we hold our SHIFT "book club" once a week and really dissect these tactics and talk about how to integrate them in our business. I didn't teach this real estate class, but maybe I should have taken it!
As far as business goes, the short and tall of this chapter is about looking at your expenses and finding out where you're wasting money and where you can cut costs without lowering your customer service for home buyers and sellers.
A couple of the key points that stood out to me were,
•· When you spend a dollar, it's an investment....EXPECT a return
•· In a shifting market you drop your expenses until your inflow once again exceeds your outflow at an acceptable level and then you play red light, green light with your money.
•· When the market shifts your money instantly becomes dumb.
What?!?!? Let's focus on that one. Your money becomes dumb?...basically that means that what worked for you before in your business isn't working at all anymore or at least not the same...so what is spent on it doesn't yield the same results...It's dumb money. That has caught my attention in more ways than one. In my position of Team Leader, at Keller Williams Capital Partners, I am charged with looking at our companies expenses...I've been looking at it from dumbness....is that even a word? Well I'm practicing what I'm preaching and cutting expenses...it isn't easy, it isn't fun, but it must be done. The after effect of it has been pretty good though; I actually feel more knowledgeable about our expenses and feel more in control of our bottom line. I took the time to figure out that If you don't control the money it will control you...it becomes a burden and stressful.
Well tomorrow is family finance day, and once again I‘ll be cutting the budget. This one stings a little more. It's close to the holidays, I have two small children, and of course...I really need (WANT) a new pair of shoes! But it must be done and my husband and I are on the same page, so I'll stop letting my money be dumb at home too and I'll let you know how it goes. We are using the Dave Ramsey, Total Money Makeover plan and I feel hopeful. You can click on his name to follow the link and check into it if you want some ideas about your family budget as well. I'm not saying it's for everyone...it just looks like it will work for our family and thought I would share.
How are you re-margining your business...your family budget? Let's share and give others ideas that may help them through not only this real estate market, but the economic times that affect our families as well.
In a previous post I wrote about Gary Keller coming to Columbus on October 15th. This stop on the SHIFT Tour contained a timely and inspirational message. In a INMAN New article dated September 12th 2008, Bernice Ross writes, "Need help weathering the storm? If so, reach for Gary Keller's new book, "Shift" - - it's the lifesaver you need today to thrive tomorrow." Well if the book is the lifesaver then our weekly book club at Keller Williams Capital Partners is the "lifeguard" that pulls you back in. If you can, join us weekly to discuss these tactics at length.
Inspiration here is the key...in Tactic 1 Gary speaks of the agent's mind set. During his talk with the 1200 Central Ohio real estate agents, Gary said there are a few things you need to get your mind around when a Shift occurs.
• Acknowledge the situation you're in.
• The MOST important thing to do right now is lead generation & lead conversion.
• You have to run towards what you most want, instead of away from what you most fear.
• The things you usually say are "hard" to do (i.e. cold calling) aren't hard...they just aren't fun, and we often confuse the two.
• Judge your success over the length of your career not the high or low of any single year.
An agent at Keller Williams Capital Partners wrote me today after a reminder email I sent out about this Tactic...
"I think Mindset will make or break your success. Everything seems to stem from the thoughts you think!
I think this is a market for opportunities!"
I'll share with you this last thought from the SHIFT book.
"You can't control the market but you can control your outlook and your response to the market. Remain resolute. Know that while everyone won't succeed in a shift, some will and anyone can."
The Team Leader for Keller Williams Capital Partners shares her thoughts and information she gives to the agents to help them build their businesses and continue to have a balanced life.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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