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As the great Benjamin Franklin once said, If you fail to plan, you are planning to fail. One of the most repeated bit of advice in real estate is goal-setting and often these goals are written down as sell X houses in a year and make X worth of gross commissions in a year. However, settings goals is only the first step towards developing a plan to traverse the winding and dipping road to success. Creating excellent strategies and developing tactics are the next two steps to take on the road to success, the problem is agents often skip creating the strategy and jump straigth to tactics after goal-setting. The result? Agents fall flat on their face, as despite having multiple websites that generate leads for them, they are incapable of cultivating prospects into leads due to lack of a strategy.
With the said thought in mind, ActiveRain University hosted another webinar on Tuesday, May 17, 2016 entitled "Overcoming Tactical Addiction" wherein our Community Evangelist, Bob Stewart, hosted BoomTown's Jeff Corbett and Adria Jones to tackle this addiction to tactics that is causing many an agent to fail.
So who are Jeff and Adria and what do they know about strategies and curing "Tactical Addiction", Jeff Corbett is the Director of Industry Relations at BoomTown and was the former VP of Operations and Business Development for ActiveRain. He has 19 years of experience in the real estate industry; covering everything from brokerage to technology and everything in between. On the other hand, Adria Jones has been with BoomTown's Client Services Team for the past 3 years now as the Lead of the Success Consulting Team. She has actively partnered with BoomTown's clients to come up with strategic solutions on how to integrate systems into their business.
Jeff and Adria began their discussion with the three steps to success as mentioned earlier and how exactly tactical addiction hampers the success of individual agents and teams. Before "curing" tactical addiction, we must first understand its symptoms.
- Inability to Simplify
- Blind Dependency on Experts
- Focusing on "What's Next" Instead of Understanding What Works
- Ignoring Strategy
According to the Trio, one of the key problems of people with tactical addiction is their inability to process information on their own, relying heavily on the suggestion of experts and what they do. The problem with that mind set is that what works for experts, big teams and big name agents might not be applicable to you. You may have all the tactics, the webpages and the tools that they use, but if you do not have the proper strategy then these tools are for naught.
One of the key "Aha! Moments" of the webinar was when Jeff shared that the worst feeling in the world is when his mom says "I'm not mad at you, I'm disappointed in you" where he would rather be beaten with a stick than to hear those words. The same applies to real estate, "How are you going to be held accountable to your goals?" You can set all the goals you want and say "I will sell 100 houses this year" at the and of the year, if you do not meet your goals then you simply shrug and say you'll try harder next year. You have to have someone that holds you accountable, an accountability coach, a colleague, a friend, a team member and you need to include repercussions if you don't meet your goals ( aside from not receiving the business that you intended to grab). That way you have a sense of motivation to ensure that you meet your intended goals, whether it's daily, monthly, annual or lifetime.
The webinar went on to discuss how to refine your strategies and tactics to ensure that you meet your goals. If your strategy is search engine marketing lead generation and cultivation you have to really drill down and understand the numbers that it would take to get to your goal and the specific tactics that you need to implement to generate leads and then convert those leads to actual clients. Jeff and Bob touched on several principles that might be all worn out but remains relevant especially today. "Content Is King", marketing from a consumers prespective, and finding the strategy that works for you and stick with it!
Jeff and Adria finished the discussion with a challenge and that is to simplify. Work Smarter, Not Harder. Dial things back, re-organize and re-focus. Identify your niche, specialize and drum up business for that niche and so on. One thing that agents have to understand is simplifying is in fact complicated, requires a lot of intelligence and is difficult but at the end of the day really rewarding.
The webinar ended with the usual Q and A and if you learned a lot from the webinar and interested in getting even more excellent insights and how tos for your business you can head on to BoomTown Library to read more!