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Are you getting enough LOVE? 1 Simple Secret on making your business 7 times better than the average agent.

By
Real Estate Broker/Owner with UtahDave.com Neighborhood Experts

1 Simple Secret on Making your business 7 times better than the average agent!

Yes, we all know the average agent sells appx 8 homes a year and makes appx 30 something thousand dollars a year.   We also know that 10% of agents do appx 90% of the business.    So what do some agents know that others dont?  What do some agents do that others dont? 

Lets take a look at an example every single one of us can instantly know what Im talking about.  Lets say you had $1 and you invested that dollar into an account that earned 100% interest.  The interest rate doesnt matter in this example....Ill explain why I use that number in a second.   

If you invest $1 a day, the compound interest in 5 years would make you $52,993.45

If you invest $1 a week, the compound interest in 5 years would make you $7589.77

The difference is more than 7 times.  Now what number would you rather have in 5 years?

Getting Love!

I met with Mr Pickett last week who is the owner of CytoSports, which is almost a $300 million dollar energy drink company out of San Francisco.  He shared with me his one secret to growing a company the way he has done in just 10 years time frame.  His secret is every single day, you focus on growth.  They call it love.  Every day they want to get some love.  For the first half of the day they focus on getting new sales which is getting the love.

If you look at the example above and relate it to our business, you can see by focusing on growth every day your returns in 5 years will skyrocket.   If we are busy putting out fires and hitting everything coming our way...we wont grow.  But as Stephen Covey says in his book, you have to do your big rocks first.  What this means is every day, you have to do what is most important and than you can fit into your day all the other stuff.  But if you do all the other stuff first, you wont succeed at getting the big stuff done.

Whats key?  Well, we focus on winning the day every day.  This is the secret.  We make sure that we focus on getting new clients every day.  Just like Cytosports....growth is the first thing to work on..than we do everything else.  By doing this, your company will grow. If you only do it once a week, you will be an average agent.  Do it every day, its inevitable you will be successful just as you invest in yourself every day.  THe 100% interest means, you give 100% of your attitude and focus on growth everyday. 

WHOS GETTING SOME LOVE TODAY?

Utah Dave
UtahDave.com Neighborhood Experts - South Jordan, UT
Homes for Sale - Utah

Thanks for the comments.  I like the quote above the phone...it really takes pumping yourself up every day.

May 17, 2008 02:22 AM
Chuck Marunde
Sequim & Port Angeles Real Estate - Sequim, WA
Sequim Real Estate Broker

Dave, well said my friend.  I practice this myself, and in two months of opening my own brokerage, I have 29 listings, sold a house for $425,000, two lots for $329,000, and another home for $210,000.  I'm busy loving people every single day, and I am have the time of my life.  But many agents around are seemingly unhappy, even bitter.  I don't think they understand what you preached here.  Thanks for the post.

May 17, 2008 02:42 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Dave, these are great thoughts about a building block process and compounding. I think you are exactly right that if you focus on lead generation like one day a week, how can you expect to grow?

May 17, 2008 03:18 AM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Great information and thanks for the Covey reminder.  It takes discipline and commitment to make things happen. 

May 17, 2008 07:00 AM
Utah Dave
UtahDave.com Neighborhood Experts - South Jordan, UT
Homes for Sale - Utah

Awesome job Chuck.  Glad to see your success.  Keep it up.  Its all about vision and persistence!  You are right on the money Gary.    THere are a lot of distractions out there that make us rationalize or justify though that we dont have time for more than once a  week.

May 17, 2008 08:48 AM
Marzena Melby
Coldwell Banker Burnet Realty - Richfield, MN
Realtor, Twin Cities Minnesota Real Estate

Dave, excellent post, and great advise, very applicable to real estate and life in general.

May 18, 2008 04:14 AM
Bob Cumiskey
A1 Connection Realty, Inc. - Sun City Center, FL
US Army Retired, Your Sun City Center, Florida ~ Realtor

Some good advice there Dave.  I could always use some "love".

May 18, 2008 04:43 AM
"The Lovely Wife" The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

Utah Dave...

Well. You probably already know that not a day goes by where we aren't searching for love :)

You also probably know that some salespeople search for love in all the wrong places :)

P.S. Sorry. You teed that one up :)

TLW...ROAR!

May 18, 2008 08:40 AM
Terri Hayley
Legit Agents - Prosper, TX
Where Texas Charm Meets New Home Expertise

It's great being part of a team, too. I love rainmaking, if you will. I love talking to people, prospecting, figuring out how I can help people make their lives better. I enjoy that probably more than anything else and DH really likes crunching numbers, so we're a great team. I can spend all the time I want on "love" - as long as it's at my desk ;), and he can spend the rest of the time putting in the "love" notes in the database, putting in the results - "love" offers, arguing with the loveless banks, etc. ;). I just came from new home sales and it didn't occur to me that I was always one of the top producers & sales counselor of the year 'cuz of the luv. Heh. Thanks for the blog!

May 18, 2008 02:33 PM
Retired Notworking
Tallahassee, FL

Thanks for the inspiration. I find that one of my "rocks" is getting my daily shot of inspiration.

May 18, 2008 10:40 PM
Heather Rankin
Rankin Realty at Lake Powell, LLC - Page, AZ
Lake Powell Real Estate

Great post ~    Great Blog Background - I am a Southern Utah-ian Lake Powell-ian -  (i'll never sing Looking for Love with the same thought in mind again)

May 21, 2008 06:27 PM
Jackie - computer-training-atlanta.com
770.498.7333 - Atlanta, GA
Learn to leverage technology to get more done.

Dave - great post! Came to the realization a while ago that the most I can spend on doing "client work" is 5 hours a day. The rest of the time should be spent on growing my business (building relationships, customer service, marketing, etc.) I am working towards that goal. What do you think of the 5 hours - too few hours? Too many?

 

May 21, 2008 10:41 PM
Utah Dave
UtahDave.com Neighborhood Experts - South Jordan, UT
Homes for Sale - Utah

So, in answer to your question.   I dont focus on time.  The reason is .....there are many distractions that can occur during a timeframe.  The way to avoid distractions is to focus on results.   If you are results focused and have a measurable tool to gauge your results you will be more efficient on GETTING MORE LOVE.   When our group of agents focus on time.....results were down.  When we focused on results.....we achieved them.  Distractions go away because of our focus on achieving results.  We measure results by number of phone calls a day, notes we write, appointments we make...and agencys that we take.

May 22, 2008 02:26 AM
Jeff Graves
Altos Research - Sunnyvale, CA
More than just beautiful market trend reports

Good post.  Everyone's time management should begin their day with the most important task to building their buisness.  During the morning is when we have most control over our time...as the day progresses many loose control and are put into a reactive mode instead of a proactive one.  Jeff - Coaching from Maui

May 22, 2008 03:55 AM
-- Casey Brischle
Columbia Bank - Spokane, WA
Spokane Home Loan Mortgage Professional

Great post! and great example of everyday vs. weekly.  I love the idea and am going to try and incorporate it.  Thank you!

May 22, 2008 06:23 AM
Laura Dee Mytinger, ABR, SFR Kansas City Real Estate
Reece and Nichols Realtors - Prairie Village, KS

Great reminder to help make that spiked, moutain-looking graphs even-out to a more fluid line! LauraDee

May 26, 2008 11:07 AM
Fran Gatti
RE/MAX Integrity - Medford, OR
Managing Principal Broker - RE/MAX Integrity

Couldn't agree with you more.  I need to be a bit more disciplined about it, but I would say my efforts so far have paid off.

May 26, 2008 05:06 PM
Bryan Flynn
Regency Mortgage Corporation - Worcester, MA
Central Mass and Worcester Mortgages

nice advice, I am going to bring this up to some of my RE agents.

May 27, 2008 02:48 AM
deVismes P. Sharp
Benson and Mangold Real Estate - Oxford, MD
Talbot County Maryland Realtor

Great advise.  We all do need some Love!

May 27, 2008 03:03 AM
John Powers
NAI Black Commercial Real Estate Services, Worldwide. - Spokane, WA

Dave,

 

Great article! It is crucial to focus on prospecting every day if you want to grow.

 

John Powers

Selling Restaurants

www.restaurants4saleonline.com

May 27, 2008 05:19 AM