Thinking in threes
I’ve noticed lately that I’ve been thinking in threes. What makes agents successful? Mindset, skills and habits. How am I thinking about Covid? Why I do what I do; what I do; how I do it.
Real Estate on Purpose is all about building mindset, skills and habits, so where do the why, what and how come in? It’s really showing up for me around the pandemic and which agents are having wonderful years and which aren’t.
When we think about the “why,” I personally focus on stability first, then more becomes possible. If we’re not in a place to pay the bills, how can we possibly think about anything else? If you don’t have consistent income, the rest is just noise. So “why”? Well, to create consistent income that’s predictable and pays the bills.
How’s your database?
And when a real estate agent has a database of 250 people that know, like and trust them as a real estate agent AND consistently and appropriately stays in touch with them, they will have that business. Next comes “what” to do. We know that for most agents, working with a database of people that know, like and trust them is great! How, then, to get to the 250? First to be real about who is in your database now and how many more you need.
Time to switch up the open house game.
One of the best ways to get more business and build your database is via open houses. There are several really great things about open houses. First, you have a way to talk to people about real estate that isn’t weird. (you know, commission breath, yuck!). When you’re holding an open house, you can talk to people about that. You can invite people you know and even ones you don’t. Open houses are the best!
OK, I hear you. HOW?
Sure, some people have had to modify how they do what they do – slightly. If you can’t do a live, free-for-all open house, do one “by appointment.” Those work great! Your area won’t allow those? Cool! Do one virtually! That won’t work? Do/get a great virtual tour and send that out to folks. Where there’s a will, there IS a way.
It’s a mindset people!
So if we know that the why hasn’t changed, and the what shouldn’t change and the how can get done one way or another, why are some agents struggling so much? We’re back to the other “three.”
Mindset, skills and habits.
For the agents having their best year ever, they saw Covid, the shut downs and quarantine and said “ok, I may have to change how I do something a little, and let’s just see what happens if I keep working!” They still did open houses. They still called their advocates. They still called on businesses. How? Well, they used Zoom and Google Meet and Skype. They doubled down on phone calls and showed people they really cared.
Were FORD calls to advocates “hard” because people were out of work and hurting? Sure! They kept at it and found places for self-care afterwards. Let’s face it, it can be hard talking to person after person you care about that is scared or worried.
And yet, who called you when all this started? No one, right? Did your insurance agent call? Your CPA? Smart agents checked in and showed they care, because they do! Building a moat around your database means taking care of them day in and day out. And while the real estate market is crazy hot right now doesn’t mean it will stay that way.
Making sure you stay on top of your lead generation and relationship building activities week in and week out ensures you have consistent income. Even when it requires a little shift in mindset. Even when it’s a bit uncomfortable because the people you’re calling need you and the conversation is a bit hard. Even when you’re so crazy busy you can’t see straight.
Those deals will all close and you’re right back to ground zero if you haven’t consistently built a pipeline of future business.
Consistent activity is the one and only cure to roller coaster income.