Happy Thursday!
The next 90 days are the most important time for most Realtors. What you do during the next 90 days will determine two things:
1. Your production in 2015
2. The foundation of your production in 2016
If you look back at all of the commission cheques you have earned in the last 12 months, from the time when you first met that person, until you got paid, is 6-9 months. Most of your income in the next 90 days will come from people you met in the Spring, and your Spring money comes from people you meet in the Fall.There is a long game and a short game in Real Estate. The long game is continually building your pipeline with quality prospects, the short game is getting 3-4 more transactions from every Listing you take. Lets take a look at the best strategies for you to master both of these games and double your income in the next 12 months.
Short game;
1. Slow down to speed up. Every time you get a Listing, start pre-marketing the listing 2 weeks before it comes on the market( You usually have a week at least, as the Seller is getting their home ready and properly staged).
-Put your sign on the lawn with a "coming soon" sign and install a Infobox below(or above) sign and stuff with a 1-page summary of the details of the home, and a call to action to get on the "special sneak-peek preview list".
- start a marketing campaign on social media, and post ads on Craigslist and Kijijji
-Invite 100 neighbours to your sneak-peek "neighbours only" wine and cheese party on Thursday between 7-9pm before listing goes on MLS. 4 days before the event, visit 25 homes on either side of your listing and 50 across the street. Give/leave them a special exclusive invitation to come and see this home before everybody else does.
2. Focus on the 7 easiest, additional transactions that you can get from every Listing you take.
- find a Buyer for home
- find a buyer for another home
- get another Listing on the street
- get another listing in the neighbourhood
- get a referral from Seller
- help seller find their next home
- sell back up property of the Buyer who bought your listing.
The more you slow down the marketing of every listing you take, the better chance you have of getting at least 4 more transactions. Why not create a scorecard of the 7 items above and rank yourself after every listing. Remember, what you focus on, expands!
3. Stop working on your systems and start working with people. This is production time!
4. Focus 80% of your activities on working "in" your business and 20% working on.
5. Schedule a holiday for 45 days form now. It is amazing how many of your clients buy/sell when they know you are going away.
The Long Game;
1. Only 15% of the leads you meet will do something in the next 90 days. Focus 80% of your efforts on converting the next 2 people most likely to buy and sell in the next 7-21 days, but nurture the other 85% of your leads by adding them to your database and communicating with them often. The 85% represents the equity of your business
The mistake most agents make is throwing away any potential prospect who wont buy in the next 30 days. This is why their business is all peaks and valleys, with no long-term consistency and growth.
2. 85% of your leads wont do anything for at least 6-12 months. Remember, most people are just looking, just looking, just looking, and then suddenly they wake up one day, and buy or sell a home. Learn to love the fact that people move on their schedule, and not yours. Keep in touch, add value, come from contribution and service, and watch your business grow dramatically. Prospects vigorously pursued...run away.
3. Mega agents will spend most of October to December doing CMA's for people buying in the Spring. They understand that they have to focus on building a pipeline are for the Spring market.
4. Short money vs Long money- Most people cannot see how great( and big)their business could be, because they are focused on the short term money, and not the long term vision of creating a great Real Estate business
Finally, treat everyone you met the same way you would if it was your best friend.
Excerpt from my book " Double Your Income" The simple way for agents to make more money in less time, working with people they really like. ( www.doubleyourincomebook.com)
"If my best friend called me up and said, “Glenn, we are thinking about selling our house,” I probably wouldn’t go over with a 48-slide PowerPoint file and do a full listing presentation. I wouldn’t go with a buyer agency contract. I would just go over and be with them for an hour or two and have coffee or beer or a soda or whatever it is, and just figure out what's important to them. For the first 15 minutes we probably wouldn’t even talk about real estate. Every lead I get I want to build rapport because I want to find out what their interests are and because I think that this person could be my next best friend. The way I want to treat my best friend is the way that I want all of the agents to treat every new lead that comes to them. It's a completely different relationship starting from how can I come from contribution and treat you like a best friend rather than I’m not going to waste any time on you. I’ve got to get you qualified, I have to do all this stuff. That’s not even what matters because if you spend all your time at the front trying to qualify somebody and thinking, “Oh, I don’t want to waste time with them. They’ve got to sign these buyer contracts or I’m not going to do or give them anything,” I think we just start operating from a scarcity mind instead of just coming from flat out contribution “How can I help you? How can I serve you?” If you start working with them and you find out that they are not qualified, because you have been treating them as your best friend, they know 400 more people at least. If you can just start treating everyone like your best friend, then I think, even if it doesn’t work out with that client, they are going to start sending you lots of referrals because they are going to become a raving fan of your business. I’ve had some clients I’ve never done business with, but they have sent me 25 to 30 referrals.""
I hope this helps and Happy Thursday!
Also, over the next 6 weeks I will be doing a series of 1-day workshops in Toronto to implement the things we talk about in the book into your business. It is called the Double Your Income Experience. Let me know if you are open to attending and I will put you on our priority registration list. Just send me an email to glennmcqueenie@gmail.com.
Glenn McQueenie
Download your free copy of my book here:
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