by andrew | Apr 23, 2018 | Goal Setting, Mindset For Success, Success
Welcome to real estate sales! The hardest and most challenging roller coaster ride of your life. Yet this profession can also be so very, very rewarding.
When I came out of corporate America and started my real estate career, I did not have an extensive network because I worked 80 hours a week. I wasn’t as connected to the community as others. I was starting a business from scratch and I knew excuses would not create income. So, I took what I knew from engineering – system, structure, and process – and applied that to my business.
I knew if I created and followed a formula, success would flow. And it did! Following my “7 S” formula I became the rookie of the year, #1 producer in my office and 3 years later the #1 agent in my market. Later in my career, I had the skills, desire and drive to create my own real estate brokerage: JP & Associates REALTORS®. And I’m proud to write that in the last 6 years – following the “7 S” formula DAILY- we’ve come from being a dream to being named the 88th largest firm in America!
So, what’s the formula? It’s the 7 S’s:
“You are capable of success, you just need to take the first step”
SUIT UP
Every day I suit up – I suit up mentally and physically. Unless you live in Malibu where you can get by at times with shorts and flip-flops, suit up and look like a successful, professional. Everyday dress for success for the norms in your area. That included my car… now at first, I could not afford a fancy car, yet I invested in a 4-door car that was always clean and ready to go.
Suiting up for me also meant my daily mental routine. My friend and COO Mark Johnson at JPAR, recently wrote: “the mind is its own place. Inside it, you can make a perfect place miserable and a miserable place nearly perfect.” That’s so true. Each day I focused on the positive things I could create in my business and for my life. You see I knew, what I focused on expands and I chose to focus on being mentally tough and taking inspired action daily.
What I learned I had to BE the agent that people wanted to work with and refer friends to. You can do the same. Suit up every day mentally and physically! EVERYDAY. This is where agents begin to fumble and falling off the wagon so very early in the steps.
SHOW UP
In my business, I showed up! I showed up to as many local and regional real estate events and community events as possible. Became involved in all my kid’s activities and filled my calendar with appointments! Appointments I learned was my “money ball” the equivalent of getting on base. The more I got on base the more signed contracts I created. I made appointments with everyone who could help me: with title companies, lenders, friends, clients, other top producers. While others would not begin arriving in the office until 11 every day, I got to the office EARLY. I made it a point to never eat lunch alone. Coffee anyone?
What I learned after suiting up was to SHOW UP and show up everywhere! Show up until you don’t need a business card to introduce yourself in your market.
SPECIALIZE
Generalist struggle and specialist thrive. When I ask an agent their specialty and they answer, “I’ll go anywhere,” typically, that answer is a signal for help! I’ve observed that agents who go anywhere struggle more than agents who specialize. Yes, most of us live in or near a large market, yet a niche specialty market is a secret to stretching your dollars and maximizing your exposure. Niche markets are all around us… consider what industry you come from like Nursing, teaching, law enforcement? You can specialize in those markets. What about specializing in investment properties for high wealth individuals? Of course, there is always the local neighborhood. You can make a great living by becoming the hyperlocal expert in a 300-home area by becoming the “hub” for all things real estate and home ownership related. You’ll provide a great service to your “farm” and love your business.
I learned this early in my career. Your marketing dollar cannot cover an entire wide area. Your audience needs to be narrow and they need to hear or see your message daily.
SOLICIT
It seems in today’s world the word “solicit” or “sales” is almost a dirty word. Yet consider this… nothing in this world happens until someone buys or sells something. And those who do so in an eloquent and professional way can be well rewarded. Fact is, real estate sales in many ways is a commodity like milk, juice, and airlines. Yet you can differentiate yourself in service, follow up, expertise and always delivering on your promises.
So, don’t be a secret agent. You’ve got to get out there and engage with the people you know and the people you don’t know. Build and maintain relationships. Wear a name tag; slap a magnetic business card on the side of your car; hand out business cards; conduct open houses and invite ALL the nosy neighbors. Spark discussions about real estate with everyone you meet. And then be prepared with your U.S.P. Your unique selling proposition… (google it!). Finally, develop your network of professional relationships who you can cross-refer business.
Keep in mind, I learned early on that “what you say matters.” I can’t emphasize enough the importance of role-playing and practicing. Agents who rehearse the buyer presentation, rehearse their listing presentation and rehearse the most common objections simply outperform those agents who don’t. It’s just that simple: practice with someone in the office NOT on your potential customer.
SPEND
I’d rather say “invest” but it doesn’t start with an S! You have to spend, to invest money to make money. And every spend should have a direct ROI (return on investment) back to you. Be smart, be strategic but have a budget each month that is invested in tried and true lead generation and set aside a budget to always be testing something new and innovative.
Limited money? Check equity or sweat equity… it’s your choice, just be resourceful in how you spend your time, talent and treasure. For example, in some cases, you can door drop and save money on direct mail. Whatever you do, however, you choose to do it remember the purpose of all real estate marketing is to get an appointment. Get the appointment is your money ball!
Most agents don’t even have a budget. Create one now, and work toward increasing the spend monthly, not reducing it. The more you spend toward lead gen, marketing the more appointments you can create.
A scared money will never make you real money. Look at where top producers spend their money in lead gen and outspend them over time to take their place. Simple enough.
SET GOALS
Life rewards the specific and punishes the vague. You tell me, which agent is going to make more money this year:
Agent 1: “how much money would you like to make this year?”
As much a possible!
Agent 2: “how much money would you like to make this year?”
I’m going to serve 50 families this year to either buy, sell or invest in real estate. By talking with 10 people a day (4 I know; 4 I don’t know, and 2 from previous lead follow-ups) I’ll make 4 appointments a week and sign 1 new contract each week.
Which agent of these agents is going to win at the end of the year?
You are a business owner now and business owners don’t wing it. Set big goals that motivate you to take big actions.
EVERY. SINGLE.DAY. You should have a checklist of things you want to accomplish towards the master goal. Don’t quit the day until you have those things done.
As an engineer, I was given a Franklin Covey planner. I had one of those in my days selling real estate and to this day I carry a notebook. I want to check things off my list daily. It’s fulfilling. It’s personally rewarding.
SERVICE
You can specialize, solicit, spend all day long, but in the end, the willingness to help people and be active in your community carries more weight than gold in our business. Get involved in your church, your community events. Volunteer in your kid’s groups and local organizations like the Junior League, or Women Leagues, or Rotary club. It will take some time to get business from those circles, but if you have a genuine approach and take time business will come.
Zig said it best. You can have everything you want in life if you just help enough people get what they want.
Make it happen each day, use the 7 S formula and success will flow. If you didn’t catch my previous post on the 7 Things I Wish My Broker Had Told Me, then check it out.
by andrew | Apr 18, 2018 | Goal Setting, Mindset For Success, Real Estate, Success, Top Producer
Episode 1 is out!
Welcome to our first episode of success from scratch. Each Wednesday we will highlight a staff member, partner or top producer just like you.
For this week’s episode, watch and learn how our very own Joe Potts, started in the real estate industry and how he managed to be a wildly successful team leader today.
His secret? Find out by watching this:
“If it’s not on your schedule, it doesn’t exist!” – Joe Potts
by andrew | Apr 16, 2018 | Priorities and My Time, Productivity
“Deciding what not to do is as important as deciding what to do.” – Jessica Jackley
Delegate, Automate or Eliminate — Today’s post is short and sweet. Sometimes those are the best, yes!?
You see, I’ve seen too many entrepreneurs follow this idea like it’s some kind of commandment: “If you want something done right, you have to do it yourself.”
Can you relate?
Imagine if you could delegate, automate or eliminate many of the tasks you’re not good at, or dislike… like booking appointments, marketing yourself or running errands. The result? Creating more time to do what you are best at, love and find important.
The key in delegation, is understanding and accepting that others simply won’t do it like you. So, get over it! Have standards, yet allow your team to run with it. When you do, what is possible in your personal productivity and life satisfaction?
For automation consider “If This Then That.” IFTTT is the freeway to get all your apps and devices talking to each other. Not everything on the internet plays nice, so IFTTT is on a mission to build a more connected world.
Consider letting go of some of the things so you can spend more time in your genius zone. CrisMarie Campbell and Susan Clarke, Business Consultants and Authors of The Beauty of Conflict recommend taking an honest look at how you are spending your time through a four zone model.
What is your zone?
- Zone Of Incompetence – you don’t do these things well. Better to eliminate, automate or delegate.
- Zone of Competence – you can do these things but don’t like them much. Better to eliminate, automate or delegate.
- Zone of Excellence – you are very good at these things. They bring you success, but they don’t make your heart sing.
- Zone of Genius – you absolutely love doing these things, you do them well and they give you the highest ratio of abundance and satisfaction to the amount of time invested.
What type of workplaces you in your genius zone?
What can you delegate, automate or eliminate this week? This week is YOURS. Own it!
by andrew | Apr 9, 2018 | Productivity
Many of you know my story… I’m an immigrant from Italy that came to America barely speaking any English and now, the leader of the 88th largest real estate broker in America. In the last 6 years, we’ve grown from the trunk of my car to #3 in the DFW marketplace and #88 in the nation. When I created JP & Associates REALTORS I wanted to provide a solution for top producing agents and teams, I wanted to create a culture of productivity and service, I wanted to help others overcome the 7 things I wish my broker had told me along the way:
What do you need to know as an Agent?
First, the conclusion… instant success is very rare. I’ve learned there are simply no shortcuts on the road to success in real estate. It takes hard work dedication and what I call the “7 S’s” of success. (More on the 7 S’s in a later blog post). Yet I’ve also learned there are no speed limits either, you can move as fast as you can, and no one is going to stop you. Success is never owned it’s only rented. And in real estate sales, the rent is DUE every day!
Second, don’t confuse being an independent contractor with being the CEO of your own business. It’s true you are an independent contractor; however, that does not mean you’re free to do whatever you please. I wish my broker had told me, being the CEO of your own business… that happens when you unite your talent with your leadership skills. Understanding where you are now; creating an action plan to eliminate gaps; developing systems, structure, and process for your business and having the mental disciplines to win is what separates the rich from the rest.
Third, the job of ALL marketing and social campaigns is to generate appointments that lead to signed contracts, period. When I was selling full time, my sole objective was to participate in activities and marketing that led to signed contracts. Everything else was secondary. That means assertive networking, self-promotion and relationship building.
Fourth, generalist struggle while specialists thrive. Meaning create a niche for yourself. I see so many of you trying to be all things to all people. “I’ll go anywhere!” Really? Why? Because you are so afraid of where the next deal comes from. Develop your brand so you are known for something… “the condo queen,” the “luxury home specialist,” the “relocating executive expert,” the “investment hub for doctors, lawyers and other professionals.” Be known for something, not everything. Stay in your lane… if you get a commercial deal refer that to a specialist; you get a short sale lead refer that to an expert; you have lead for farm and ranch refer that to the folks that know “the dirt.” Going outside your expertise is the fastest way to disaster in your business.
Fifth, I quickly learned that when I help people achieve their goals it’s easier for me to achieve mine. I never approached a potential customer with how much commission I could make. I always served my potential customer with what they needed. Once I understood the importance of allowing people to make their own choices in finding a place to live my business changed. I learned to become the HUB, the local area expert and my brand stood out as the go-to guy.
Sixth, I wish my broker has told me that my colleagues could be both good friends and tough competitors. No one owns the business – not them and not you. It’s the only job you wake up each day unemployed.
Seventh, I wish I’d known the fact that everything in real estate stays the same, yet everything changes. Typically, in 90-day cycles. Every day you will be presented with challenges and opportunities to stay ahead of technology and the industry. Without a well-defined business plan, a strategy and a process to evaluate that strategy you will be whipped around by the forces to be vs. building a business by design.
What to do next?
At the end of the day, decide what you want; create a compelling reason why you want it; find an accountability partner; stay committed vs just interested; execute your plan with passion; remain flexible yet focused and finally celebrate the small wins along the way. I’d leave you with the exercise, with this action plan for today:
Think about what the next 5 years, the next 10 years look like for you. When you stand there and look back at today, who do YOU NEED TO BE to make that happen? Go BE that person today! At JP & Associates Realtors, we are here to encourage, support and celebrate your journey.
“We are here to encourage, support and celebrate your journey. – JPAR Team”
by andrew | Apr 3, 2018 | Goal Setting, Productivity
The first quarter of 2018 year is gone. Can you believe it? Where did the time go?
Are you ahead, behind or on track with your personal & business goals? In any case, I’d encourage you to “declare it perfect and move forward powerfully.” Make the necessary adjustments, and keep moving forward.
“It’s not where you start but where you finish that counts”
The story of Bennett Moehring.
Bennet hadn’t even turned 21 yet when he suffered one of the most crushing disappointments of his life, live in front of nearly 70,000 people in “swirling snow,” he missed a game-winning field goal in the Army-Navy game allowing Army to win 14-13.
After the failed 48-yard kick, his teammates helped him off the field, and he wept in the locker room. But then he started drawing upon what he’d learned from the leadership course he was taking and from talks about character he’d heard from Navy coaches. He decided to face reporters, take responsibility, and talk about how lucky he felt to play football. “I’ll use this as motivation,” Moehring decided. “I’ll get better. It’s the only option.”
Then a surprising thing happened. Moehring started getting words of encouragement from everywhere offering him praise and support via social media, email, and texts. All of this backup, as well as soul-searching on his own part, eventually helped Moehring cut himself some slack on not making what was likely a near-impossible kick in the first place. He realized that his missed field goan turned out to be more of a blessing than a burden. “If I made the kick, the glory would’ve faded,” he said. “But with this, I can be an example of good sportsmanship, and that’s lasting.”
Bennett Moehring “declared it perfect” and so can you.
Next Monday as a firm – our support teams – will learn from the past 3 months: we will celebrate success and also make whatever adjustment and changes are needed to not only catch up with goals but also to move ahead.
This is just the first quarter of 2018. We all have plenty of time to reach our 2018 goals… as long as we are all willing to execute the daily activities, track the results, make the changes to our behaviors and engage an accountability partner.
Are you interested or committed? 75% of the year remains, let’s go!
