Zombie Real Estate Agents getting hammered on The Walking Dead

By
Mortgage and Lending with Supreme Lending USDA, FHA, and Conventional Loans 31251 NMLS# 380824

ZOMBIES, ZOMBIES, ZOMBIES!  There are thousands of agents out there that are just doing the usual day to day tasks that are completely wasting time.  They are just walking the streets, roaming around, arms in the air, moaning and groaning, looking for new business.  If you're not careful, you too can get bit and be overtaken by wasteful zombie like activities. 

If you were to sit down and list out all the daily tasks that you complete or don't complete, then what tasks actually end up making you MONEY?!?  You can email, Facebook, make calls, go to Starbucks, Facebook again, show homes, call past clients, go to lunch, show up at the office, or tons of other random day to day tasks.  What 2 or 3 daily duties can you complete each and every day that will actually make you money?

The 80/20 rule represents so many parts of our lives.  In this example, we all know that 80% of our buisness comes from 20% of our clients (on average).  Well, with the many random day to day time killers, only 20% of our efforts are amounting to 80% of our income.  So, what if you figured out those 2 or 3 activities that are making you the most money? 

Lets pretend we all work 8 hour days.  Better yet, lets pretend we all work 8 hour days in a cube with no Facebook, gchat, email, or other social disturbances.  We now know what our top 2 to 3 daily priorities are and instead of spending a mere hour and 36 minutes on them (20% of 8 hours), we triple it.  Now, we are focusing on the items that MAKE YOU MONEY and spend 4 hours and 48 minutes.  If you are making $50,000 a year and only spending 1.6 hours a day, then your efforts are bringing in $40,000 (80% of 50K).  Well, now you're increasing your income to a whopping $120K a year (4 hours and 48 minutes per day) with your tripled daily focused, productivity, and money making tasks.

What about the other non-income producing tasks? Well, you're left with just over 3 hours to handle those.  If you cannot handle those items in that amount of time, then hire an assistant.  Or, high a virtual assistant which is way less expensive.  I'll write a post on how to do that later so subscribe if you're interested!

HERE'S WHERE I NEED YOUR HELP!  Please, please, please comment and leave your thoughts below so we can help each other!

1.  In your professional opinion, what are the top 2-3 activities agents need to complete daily to truly become successful as a top agent?

2.  What are you dying to know about?  What problems are you having?  What could you be better at that could improve your business?  What is keeping you up at night?  What new tools, technology, or marketing ideas would you like to learn or be better at?

I'll send out a recap blog soon so we can all learn from each other.

Thank you so much for reading and most importantly, thank you in advance for your comments!

P.S. Is anyone interested in becoming a zombie on The Walking Dead?  I'm going to be a ZOMBIE soon!

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Lenn Harley 07/10/2013 09:56 PM
Topic:
Real Estate Best Practices
Location:
Georgia
Groups:
Realtors®
ABR/REBAC
"Whacked"!!!
Club Chaos
Tags:
real estate agents
marketing tips
productivity

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Rainer
120,240
Heidi Kelley
Keller Williams Realty Leading Edge - East Providence, RI
Your Rhode Island Real Estate Connection

Justin, I love your post. I have just finished reading Gary Keller's newest book named The One Thing. In a nutshell, it directs us to focus on One Thing that will move our business successfully daily. My goal has been to spend 4-6 hours daily lead generating (blogging, farming, phone calls, follow ups, social media contacting).

What I need to learn more about is video marketing (which I am teaching myself to do). 

What I need to know more of is what products my local lenders have, basically what Lenn Harley said above.

Jul 10, 2013 10:04 PM #12
Rainmaker
497,291
Scott Seaton Jr. Bourbonnais Kankakee IL Home Inspector
SLS Home Inspections-Bradley Bourbonnais Kankakee Manteno - Bourbonnais, IL
The Home Inspector With a Heart!

My suggestion, Read Gary Keller's new book, The One Thing. It will really help with all your readers.

Jul 10, 2013 10:14 PM #13
Rainmaker
150,246
Michael J. Gallo
Florida Luxury Realty - New Port Richey, FL
Florida Luxury Realty - Gulf Home Sales Team

Justin - I mentor new licensees and I love this post. For those with Reading comprehension issues...Do What Works for You and Stop Wandering around from lead gen activity to lead gen activity.  Most agents will not close deal after deal from Facebook and many many agents are incapable of writing a blog.

Jul 10, 2013 10:27 PM #14
Rainmaker
696,969
Tanya Van Blake-Coleman
Van Blake-Coleman Realty, St. Thomas/www.talk-to-Tanya.com - St Thomas, VI
Improving the Quality of Your Life

Focus, focus. I don't think anyone who is successful at anything is working less the 10 to 12 hours a day  and probably more.

 

I focus on attention to what will generate funds most immediately, - deals in the pipeline - looking at each one and making sure everything that is needed is in place according to a time line I create when it contracts.

Follow up with potential buyers and sellers I am actively working with.

Advertising on every level -website, social media and hard copy

 

The thing I need to add to this list and make part of my daily routine is that old fashion touch of at least 5 people a day. Whether a note or phone call just to stay in touch and keep my name/face in front of them.

Jul 10, 2013 10:31 PM #15
Rainer
212,150
Kristen Correa, Broker
Kristen Correa Real Estate & Reedy Creek Realty Services - Keller, TX
I love coffee & real estate. I am out of coffee!

Hi Justin! Great post. Like others said, the book The One Thing comes to mind, too, not only are things about the ROI, but they are also about how do they enrich your life? LIKE doing it? Then do it! Don't like doing said activity? Then don't! And have you watched the movie Something Ventured? About the investors and entrepreneurs who started some of the Silicon Valley companies. Talks about Zombie businesses. Sounds like you would enjoy both...

In your professional opinion, what are the top 2-3 activities agents need to complete daily to truly become successful as a top agent?

#1 Follow up with existing clients. Brief, relevant, useful follow up. No amount of marketing in the world can makeup for screwing up what ya already got. Take care of the client.

#2 Prospect. Daily. Doesn't matter how (pick your way, the way you like...) and do it everyday.

#3 Follow up with past clients. Send them useful info or items of value or just a nice note to say thanks for being there before, who do you know who needs me now?

What are you dying to know about?  I need to know when the next ethics and legal update is so I can get my MCE!

What problems are you having?  Loans running late! Houses not appraising!

What could you be better at that could improve your business?  OK, you got me, time management. But I did play hookie this week and take the kids to Hawaiian Falls. Best. Decision. Ever.

What is keeping you up at night?  The 7-yr-old who crawls into my bed occasionally?!

What new tools, technology, or marketing ideas would you like to learn or be better at? There are too many tools, there is too much tech and a sea of marketing available to us. So what I need is focus.

Have a great day, Justin!

Jul 10, 2013 10:40 PM #16
Ambassador
2,066,233
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Making it count everyday.. 

time is our only true wealth. .not spending it playing games on the computer or chasing impossibilities. .

Jul 10, 2013 10:40 PM #17
Rainmaker
94,583
Roger Stensland
Keller Williams Realty Puget Sound - Maple Valley, WA
Let's Move!

The advantage to working for yourself, as in real estate, as you increase your dollar-producing work, you make more money you can keep.  If you work for someone else and you wasted 6+ hours a day, I wish you good luck finding your next job.

Jul 10, 2013 10:56 PM #18
Rainmaker
1,403,027
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Justin, your analysis makes total sense. The top three thing I would suggest are prospect, prospect and prospect.

Jul 10, 2013 11:06 PM #19
Ambassador
780,252
Doug Rogers
Bayou Properties - Alexandria, LA
Your Alexandria Louisiana Agent

1) Prospect for NEW business 2.5 hours five days a week. 2) Then prospect for NEW business thirty minutes on Saturday. 3) Purchase a baseball bat 4) Hit anything that attempts to encroach on this time block :)

 

Jul 10, 2013 11:09 PM #20
Ambassador
2,458,471
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Superb post, Justin!

     Talk to people about Buying and Selling Real Estate ... that may be Face to Face... it may be via Facebook or other Tech... but get in front of Buyers and Sellers and have conversations with them! 

    

Jul 10, 2013 11:30 PM #21
Rainer
335,668
Ron Tissier
Chapman Hall Premier Realtors (404) 580-9069 - Atlanta, GA
Defining Homes. Defining Lifestyles.
Hey Justin! Great to see you hear on AR! For me, one of my biggest/frustrating challenges is consistent follow up with internet leads, especially after several attempts at reaching them are ignored. Congrats on the featured post! Cheers!
Jul 11, 2013 12:53 AM #22
Rainer
27,387
Edward Beck
William Lawrence Agency - Boonton, NJ
Helping Buyers and Sellers Turn the Page.

Yeah, it's prospecting.  Plain and simple.  Uninterrupted prospecting daily.  

 

Jul 11, 2013 12:54 AM #23
Rainmaker
2,547,050
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

My first thoughts are to get out there everywhere and make yourself known personally..volunteer, help, and assist wherever you can and the rest takes care of itself...thank you and good post. Each person must find their own business plan and work it

Jul 11, 2013 01:19 AM #24
Rainmaker
103,913
Brivity Platform
Brivity - Bellingham, WA
Manage. Market. Communicate. Convert. Get leads

At our office, our team swears by Gary Keller's book The One Thing. I would highly recommend it, if you're wondering about the activities that make everything else easier or unnecessary. 

Jul 11, 2013 02:26 AM #26
Rainmaker
60,528
Justin Messer
Supreme Lending USDA, FHA, and Conventional Loans - Peachtree City, GA
Residential Loan Officer, USDA Rural Housing Loan

Thank you all for your incredible insight.  Making a few small changes or tweaks to your business in certain areas can make a world of difference.  In a couple of days, I'm going to compile a list of the most common recommended activities that NEED to be preformed every day.  Then, I'll write a new post for each so that we can dig a little deeper and attempt to switch on that little light bulb above our heads!

Thus far...

Prospecting is hands down a must (in any business).  Maybe we should address the most efficient ways to do so.

Follow up with prospects/Client Nurturing.  Most give up after one or two attempts to follow up.  It needs to be a minimum of 7-9!  Sounds like a lot, but if its automated, its easy.

Gary Keller's book: The One Thing - Apparently this is an outstanding book.  As soon I hit submit, I'm going to lunch and to the book store.

Last...yes I dogged Facebook in my post, but only for being a time distraction.  Its actually how I closed my first loan 7 years ago.  So, speaking of FB, is there a "LIKE" button for comments on AR?  I'd LIKE all these responses!

Jul 11, 2013 03:41 AM #27
Rainmaker
647,985
Team Honeycutt
Allen Tate - Concord, NC

Agents should farm their past buyers. This can be a goal mine. Then every day some time should be spent in different ways to get new business. Most important of all is to return contacts as soon as possible and always do what you promise to do for them in a timely manner. That WOW factor is all important.

Betty

Jul 11, 2013 05:27 AM #28
Ambassador
1,155,876
Bryan Robertson
Los Altos, CA

OK, here's my top 3 things to do daily:

1)  Existing client follow up (status updates, etc) as needed but check on each client at least once a week (ideally sooner)

2)  Lead follow up - send them information quickly as soon as they ask if possible

3)  Keep you inbox and action-item list short.  Nothing kills enthusiam like feeling as if you're not making any progress.

 

Jul 11, 2013 07:26 AM #29
Ambassador
1,222,186
Ralph Gorgoglione
Maui Life Homes / Metro Life Homes - Kihei, HI
Hawaii and California Real Estate (310) 497-9407

What a relevant and important blog topic! You certainly have stirred a lot of commentary and debate. How astute many of your points are. Yes, focusing on the items that make you money makes sense.

Jul 11, 2013 07:58 AM #30
Ambassador
2,320,402
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Justin, Following-up is essential with past and present clients, networking-consistently making an online presence and meeting face-to-face works for me! Great topic! It was nice to 'almost' meet you the other night and wish you much continued success! Lynn speaks very highly of you.

Aug 22, 2013 12:17 AM #33
Rainmaker
1,506,406
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Follow up is a big deal. Lead generating daily is another.

As you said, it is not about how many hours you work/day, but the quality of that time.

Jul 24, 2014 05:07 AM #34
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Justin Messer

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