In any shifting, changing or thriving market, it’s always possible to make progress. So, one question I have for you is this: what will your bank account look like on Jan. 1?
Is it your desire to have a more significant bank account or a smaller one? Whatever your goal is, now is the time to make that happen.
The next days will be critical for setting yourself up for a strong close to the year and a fast start to the new year. What you do in the next few days and weeks will determine the size of your bank account on Jan. 1 and your momentum for the first quarter of the new year.
Challenge 1: What would happen to your business if, for the next 20 working days, you made one new appointment each day?
Let’s face it, there are two types of agents today: hobbyists and CEOs. This article is not for hobbyists; those part-time agents who dabble. For those of you who run your business like a business, those who know your daily number and know what it takes to generate one sale, this article is for you. How many new appointments can you set in the next 20 to 30 days?
Challenge 2: Get clear about the next 90 days.
– Write down the number of sales you’ve made so far this year.
– Write down the source of those sales.
– How many listings will you earn between now and the end of the year?
– How many additional families or investors do you want to serve between now and the end of the year?
– How many contacts do you need to make to drive that number?
– One rule of thumb is 40 contacts to one sale
– Who are they, and how will you go about connecting with them?
– What systems do you have in place to create the result you desire?
After completing the quick exercise above, here are five actions you can take so you’re not broke on Jan. 1:
– Decide now. Decide now how many days you will work, how many days you will be off and how many “flex days” you’ll have between now and the end of the year. Decide what direct response marketing campaigns you will run. For example, will you create an investor campaign to take advantage of year-end investment buyers?
– Up your CRM game. There is no excuse for not having your CRM updated and working for you. It takes discipline, yet once you realize your CRM is the engine that drives your train, that task becomes less negotiable.
– Delegate. Is it time to find some help like an office or virtual assistant? Your highest and best use is prospecting, lead generation, going on appointments and negotiating contracts. Everything else delegates. Scared? Get resourceful; many new agents I know are sharing a fractional assistant to split costs yet keep them fully employed.
– Diversify your lead generation sources. Too many struggling agents rely on one, maybe two lead sources. Four sources of business—split between influence strategies and control strategies—provide diversity and stability to your real estate practice. Note, don’t add four sources all at once. Start with one new source, get it working and stable, then add another until you reach four sources.
– Target market clarity. Any market rewards the hyperlocal expert. Are you an expert in a community? Are you an expert in a profession like nurses, FBI agents, CPAs? It’s probably time to get hyperlocal and specialize.
So, I’ll leave you today with three final things to consider:
1. Knowing what you know now, what immediate adjustments do you need to make? Take them now.
2. Cash is king. Are you building your cash reserves? Are you reducing lousy debt? Investing in marketing? (Hint: You can do all three.)
3. Have you started a small weekly accountability group with like-minded, goal-oriented CEOs like yourself? If not, what’s holding you back?
Mark Johnson is the chief executive officer of JPAR Real Estate, a rapidly growing full-service transaction-based real estate brokerage. He is the host of “Success Superstars,” a weekly show that highlights the blueprint of agent success, as well as the co-founder of CoRecruit. He has invested decades in understanding the inner workings of high-performing real estate companies, managers, teams and their leaders in major markets worldwide. Johnson has served as a business coach in progressive leadership capacities for one of the largest U.S.-based real estate firms, in sales and customer marketing leadership capacities for a major consumer goods company, and served in the U.S. Army. Johnson can be found on Twitter, Instagram, LinkedIn and YouTube.