Realty Times May 8, 2006

Want to Stay on Track? Learn How, Right Now
by Claudia Wicks

Here it is, the busy spring home-buying and selling season, and several of the agents I have spoken with around the country the past few days have told me, with more than a touch of exasperation in their voices, "It's not busy for me right now."

Those two words -- right now -- succinctly sum up a dilemma that has plagued real estate agents since the very first contract was written. To our detriment, we continually focus on right now business.

What needs to be done right now? We're so busy moment to moment, multi-tasking and handling daily minutiae to stop and consider building a pipeline of business. Too busy, that is, to stop and consider our future. We always go instead for the "right now" business. And the thing is, it's not a question of how busy we are, it's a matter of time management, or, more to the point, self-management!

Let's just be honest with ourselves: We don't like to prospect. It's way too much work. Plus -- as long as we're being honest with ourselves -- we're not very good at it.

So, the million-dollar question is (and always has been), how do top agents stay on track and stay focused … and how can you do the same?

In my discussions with top agents around the country, I've noticed that many of them do the same few things to rise to, and stay at, the top of their game. Here's what they've told me:

  1. They build a business plan. They know their numbers and work toward them. What does that mean? It means they know how much money they want to make, how many transactions it will take to get there, and how many prospects they'll need in their pipelines to generate those transactions.

  2. They develop solid plans of action to make sure they get those prospects into their pipelines: open houses, spheres of influence, past clients, etc.

  3. They systematize, so they can cultivate these prospects without expending an inordinate amount of time doing so. They use technology to gently (and easily and consistently) stay in touch and cultivate their future business, even while they work on today's business. This helps create that steady stream of business, both in referrals and new business. Often, we mistakenly believe that follow-up is a waste of time unless prospects are ready to go within the next 30 days.

  4. They schedule themselves for success. They set aside time to prospect, to make their calls and do pop-bys. If it is scheduled, it will happen. Conversely, if it isn't, it won't.

  5. They watch how they talk to themselves. They know the reasons they are working and keep those reasons top of mind. Often, if they start feeling down, they'll do something nice for someone, if only a small gesture. They tell me it works like a charm: Thinking of someone other than themselves picks them right up out of their funk, without fail.

  6. They reinvent themselves or "sharpen the saw." It has often been said that insanity is doing the same thing over and over and expecting different results. Why are you doing that? Hope is not a marketing strategy. Just because something has always been done a certain way doesn't mean it works. Try something new.

All of this points back to a very simple concept: Build a healthy pipeline of prospects, and it will yield you a steady stream of business.

In honor of the baseball season, which is now officially underway, let's apply the old baseball analogy to a pipeline of prospects. Here it goes: The more chances you have to bat, the more home runs you'll hit. The more prospects you have in your pipeline, the more business you'll close. It's really that simple.

Your mission, should you choose to accept it, is to go out and find two new prospects before the end of the week. You can do this. Here's how:

  • Call past clients today.

  • Hold an open house, send out invitations, put up more signs than you normally would.

  • If you don't know all of your neighbors, by all means, introduce yourself! Let them know you are in real estate and chat with them about what a great market this is right now. Ask them if they would like to receive an email notification every time a new property comes on the market in your neighborhood.

    Take these steps -- and then watch as your pipeline, and your profits and your personal satisfaction, grow. Trust me, this is the right kind of right now business.



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