The Hard Truth About Succeeding in the Real Estate Business
January 2, 2020
Vice President, Realty Executives
As I wrapped up a recent business planning event for a group of real estate agents, I asked an important question. “By a show of hands” I queried, “having completed your 2020 Business Plan, who discovered the necessary activities to growing your business are new concepts and approaches that you have never heard of before.”
Not a single hand went up. In other words, they all had a good idea what they needed to do to grow their businesses. Yet, everyone in the room felt they had a long way to go to achieving the success they really wanted for themselves.
There is one critical factor that separates highly effective, successful agents and those that struggle to achieve their goals.
Before I share the critical difference between successful agents and those that struggle, there are a couple of things to put into perspective first.
The real estate business is a relationship business. Period. Successful agents are simply more effective at establishing relationships that foster trust and confidence with their clients and prospects. The resources and tools we have available to connect with people today compared to the past have changed significantly, but the game is still all about relationships. Today, we have the internet, search optimization, email, texting, social media, YouTube and many other methods of communication compared to the past. Yet the game is the same; get connected to people, build confidence and trust and earn the business when people are ready to move.
A good business plan helps you get clarity on what you are specifically going to do to foster and build relationships. It also outlines very specific actions that you will do on a daily, weekly, monthly and annual basis to connect with prospective and past clients. For example, the plan might specify that every day you will make 10 contacts to people in your sphere of influence or to previous clients via phone or text. In addition, you will make 2 social media posts per day and send a newsletter or direct mail piece to your farm area monthly.
Here is where the hard truth begins. Having a business plan alone is not going to ensure your success. In fact, in my years of coaching and supporting top producing agents throughout North America, many DID NOT have a documented business plan. Despite that, they still achieved extraordinarily high levels of success for one specific reason.
They took action.
They took action consistently and purposefully. They made sure they were regularly engaging in activities that fostered relationships with prospects. The difference between a wildly successful agent and those that aspire to greatness comes down to one thing:
Doing the work that fosters great relationships.
Some have referred to me as The World’s Toughest Business Coach because I’ve been known to have tough, truth yielding conversations with people that lead to massive transformation in their lives and careers. I am committed to helping people live great lives and love the work they do. Sometimes that requires a little kick in the pants or a tough, thought-altering conversation that will lead to new and inspired actions.
If you aren’t ready for tough love, stop reading right now.
I am going to share something with you that might rub against your beliefs, habits, and the way you’ve shown up in life and your career in the past.
The reason why most agents struggle to maximize their potential is they don’t REALLY do enough of the work to create lots of conversations with prospects. They make one call a week, send a periodic newsletter or hand out a business card from time to time and believe that is sufficient effort. It is not! They make excuses like they don’t have time; they don’t have resources; they don’t agree with a proven methodology or they blame others. They always have some reason and consideration that will take precedence over doing the activities that will lead to results. Despite good intentions and knowing what to do, they still don’t do it. They aren’t keeping their commitment to themselves and their goals. If that stings, sorry! I warned you.
Great agents have the capacity to take their limiting thoughts captive, put them aside and act. They simply don’t make excuses and they confront their fears when necessary. They keep moving. They keep acting, they follow through.
The top producer’s magic formula is doing the right work consistently.
If you want to make 2020 a banner year for yourself, get to work, decide what you are going to do to foster your business relationships, set your goals and be unstoppable when it comes to following through with the actions and behaviors necessary to grow your business.
Want to have a tough conversation about advancing your business in 2020? E-mail me at firstname.lastname@example.org
Eden Sunshine is an entrepreneur, the creator of The Level 7 System, a speaker, author and Vice President of Operations for Realty Executive in Phoenix Arizona. Eden has coached and consulted with over 300 of the top Real Estate agents and teams throughout the USA and Canada since 2003. Eden specializes in helping businesses become scalable, positioned for exponential growth and productivity while establishing a meaningful, high performing business culture.