Last week, I had the pleasure of attending SHIFT tour with KW founder, Gary Keller. Gary is a brilliant business man, and had some very profound insights:
• Get used to the real "now". Things are not going to go back to the way they were in 2002-2005. It was a facade.
• It's okay to be a real estate "salesperson". You need to learn to MOFIR (make offers for immediate response). MOFIR's of the moment could be for first time buyers, investors, and move-up buyers. IDEA: create a "best buy list" for each group, and market them to your past clients, and sphere.
• Look for a minimum of 10:1 return on marketing dollars.
• Be the local real estate market economist of choice. Know your local numbers, learn what they mean and be the voice of the marketplace.
• Ever thought of doing open houses for REO's? Post your cell # on large signs to capture buyers ("bank owned, call me for information XXX-XXXX"). Become the REO neighborhood information center (why is grass so high, why are there stickers on the window, etc.)
• Go to work everyday. Get dressed, time block for your important activities, lead generate, and get into an accountability relationship)
• Take advantage of social media to network (facebook, twitter)
• Don't hang around negative people - - use words of life, practice unconditional love and turn the news OFF
• Tell the truth. Bad advice in today's market can be catastrophic. Good or bad news is better than uncertainty. Don't make the delivery of bad news personal.
• Make decisive choices. Trying is failing with honor. Surround yourself with supporters. Track your results.
• Understand that YOU can make a difference in your clients' lives. Save families from foreclosure, save marriages. You are needed NOW more than ever.
• It's called a buyer's market for a reason.
• You should implement 33 touch accelerator - 2 emails and 1 call per month.
• If you are confident, it's easy to make calls. Have something good to offer, and it is really easy to call and tell people about it.
• Average is not a great place to live.
• You do not succeed your way to success, you FAIL your way to success.
• What will separate you from your competition is your willingness to do what they will not.
• You can do anything you want if you write it down and come up with a plan
• Never give up! Down is the opportunity to get up!
• You are on this planet to grow spiritually. You have to learn to see down as up, spiritually
• Success is inside of you, let it out!
• When you fail - ask: what happened, and what do I do now?
• If you take action, you can get anything you want within 5 years
• Success is how high you bounce after you hit the bottom - - George Patton
• There are no rags to riches without the rags
• You may not realize that sometimes a kick in the teeth is what's best for you
• Your greatest moments often come after your greatest defeats
• Japanese Etymology for CRISIS is danger + opportunity
• CRISIS: Circumstances Requiring Immediate Shift In Strategy
• Stop obsessing about what is wrong, and focus on what you have that is working.
• We all stink when we start anything. You practice and make time in your day to improve.
• Most realtors want to play the gig (show and list property) instead of practicing (lead generation)
• Change is going to come. It can happen to you, or you can embrace it and deal with it.
• Recession = 2 consecutive quarters with a drop in spending. Real Estate entered recession in Fall of '05
• 50% of homes being sold are to first time buyers, and that # is expected to increase by the end of '09
• You have to do EXTRA to achieve AVERAGE results in this market. What would you have to do to achieve extraordinary results?
• Rule of thumb: for every 10k in price drop, interest rates will increase 1%. The increase in interest will overshadow waiting on the price to drop.
• You have to price ahead of the market
• If people are buying now, they are either dumb, or have a dumb realtor (ouch)
• When the tide goes out, it exposes everyone who is not wearing a bathing suit (the market exposes the agents who are not skilled, and should probably never gotten into the business)
• Why be average when you can be exceptional?
• Always remember, you are striving to have a great career, and not just a great year.
The Six Fundamental Secrets in the SHIFT:
- Get real and get right . . . right now
- Re-margin your personal and business expenses . . . right now
- Focus on lead generation and conversion . . . right now
- Get sellers to price ahead of the market and stage their homes . . . right now
- Help buyers find their motivation . . . right now
- Get involved in short sales, REO's and foreclosures . . . right now.
• Little effort becomes habit and leads to little results. Big effort becomes habit and leads to big results. Choose the results you want, then choose the effort.
• Average and below do only what they like to do; people who are above average do what they don't like to do.
• Take responsibility for the outcomes in your life. It's not up to everyone else to create the life you want; it is up to you.
• You've gotten where you are because of what you do. . . and you will stay where you are because of what you do (good, bad or indifferent)
• "It is not necessary to change. Survival is not necessary." -- W Edwards Deming
• "If your ship doesn't come in, swim out to meet it". - Jonathan Winters
• There are no longer enough transactions to go around. Some of the Realtors and real estate companies will not survive.
• Real estate is an industry of perspective. Your role is to be there for the client when things go wrong, not when things go right.
• You need a database. If you don't have a database, you have no relationships . . . and therefore, no business.
• 50% of all sales happen before noon.
• Time management is money management. The way you manage your time will determine your money.
• Most people are not chasing success, they are avoiding it.
• If Realtors do not have active buyers and sellers, that means they are not "working" (lead generating).
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