The power of questions is the basis of all human progress. ~ Indira Gandhi
As you read this, how many days remain in the year? My business partner and I are going through this exercise next week for our business and our personal life.
Maximizing the time you have remaining this year starts with five quality questions.
Five Quality Questions:
What are the most important lessons you learned about yourself and your business this year?
As a result of question #1, what is your plan to correct the course and close stronger than you started?
What new disciplines must you start NOW and master to create the most successful close to the year?
Who will hold you accountable?
What new skills will you need to master to compete in the next 90 days?
Marketing to create more appointments?
Upgrade your capabilities presentation?
Handling the most common objections using the P.A.I.D. model?
What new (or existing tool do you already have yet underutilize) or technology or lead generation tools will you master to bring your business to a new level?
There you have it – five quality questions – that will help you close this year or any year stronger.
Building Resilience! Let’s start with a few examples:
Helen’s Unwavering Vision
Helen Keller, despite being blind and deaf, refused to be defined by her disabilities. Through sheer determination, she learned to communicate and became an influential author, educator, and activist. Her journey from isolation to empowerment inspires countless individuals facing their own challenges today. As real estate agents, we can learn from Helen’s unwavering vision—seeing beyond obstacles and focusing on possibilities.
“The only thing worse than being blind is having sight but no vision.” — Helen Keller
Nelson’s Unbreakable Spirit
Nelson Mandela, the anti-apartheid leader, endured 27 years of imprisonment for his activism. Despite attempts to silence him, Mandela’s spirit remained unbreakable. His release marked a pivotal moment in South Africa’s fight against apartheid. As agents, we can draw strength from his words:
“Do not judge me by my successes, judge me by how many times I fell down and got back up again.” — Nelson Mandela
Marie’s Fearless Pursuit
Marie Curie, the first woman to receive a Nobel Prize, revolutionized science. Born in challenging circumstances, she fearlessly pursued knowledge, shattering gender barriers. Her dedication inspires us to overcome obstacles and leave our mark on the industry:
“You cannot hope to build a better world without improving the individuals.” — Marie Curie
Abraham’s Journey from Poverty to Presidency
Abraham Lincoln, the 16th President of the United States, emerged from poverty. His resilience and determination led him to the highest office in the land. As agents, we can learn from his journey:
“I will prepare, and someday my chance will come.” — Abraham Lincoln
Modern-Day Agents: Perseverance in the Real Estate Market
Let’s shift our focus to contemporary agents like you. These stories highlight resilience in our industry:
Sarah’s Short Sale Triumph: Sarah faced financial setbacks in her past yet persisted. She negotiated a successful short sale, turning adversity into opportunity.
Michael’s Market Meltdown: When his market turned, Michael adapted. He embraced digital marketing and connected with clients in new and innovative ways.
Lena’s Personal Loss: Lena lost a loved one during a critical deal. She leveraged her support network of fellow agents, who guided her and the transaction to a successful close.
In my book, “Willing To Eager,” I share more stories about persistence.
Key Takeaways for Real Estate Agents
Your Mindset Matters: Cultivate a growth mindset. See challenges as opportunities for growth.
Adaptability: Be flexible. Embrace technology, virtual tours, and new marketing strategies.
Community and Support: Lean on fellow agents. Share experiences and learn from each other.
Resilience isn’t about avoiding challenges—it’s about thriving despite them. As real estate professionals, we can draw inspiration from these stories and build our own resilience.
In today’s dynamic real estate landscape, market trends are constantly evolving. As a real estate agent, staying ahead of these trends is crucial to maintaining a competitive edge and providing exceptional service to your clients.
Be bold, be different, stand out from the rest
Let’s explore how you can adapt to shifting market dynamics:
Embrace The Virtual
Virtual tours have become a game-changer in the real estate industry. With advancements in technology, buyers now expect immersive experiences before physically visiting a property. How can you go beyond and above and stand out?
The Obvious – Invest in High-Quality Imagery: Using professional photography and 3D virtual tours to showcase properties effectively. Highlight key features and create an emotional connection with potential buyers.
The Not So Obvious – Live Virtual Tours: Host live virtual tours via platforms like Zoom or Facebook Live. Engage with viewers, answer their questions, and provide a personalized walkthrough. Then it lives online forever as a virtual “easter egg!”
Social Media Marketing Skills
Social media is a powerful tool for real estate agents. It allows you to reach a broader audience, build your brand, and connect with potential clients. Consider these strategies:
Content Strategy: Create valuable content that educates, entertains, and informs. Share property listings, neighborhood highlights, and market insights. Use platforms like Instagram, Facebook, and LinkedIn.
Paid Advertising: Invest in targeted ads to reach specific demographics. Platforms like Facebook and Instagram offer precise audience targeting options. Even look at LinkedIn Sales Navigator, which is an innovative approach.
Personalized Client Experiences
In an era of automation, personalized interactions set you apart. Here’s how to enhance client experiences:
Know Your Clients: Understand their preferences, needs, and pain points. Tailor your communication accordingly.
Send Personalized Updates: Keep clients informed about market trends, new listings, and relevant news. A personalized email or phone call goes a long way.
Stay Agile and Adaptable
Market trends can shift rapidly. Be prepared to adapt:
Continuous Learning: Attend workshops, webinars, and industry conferences. Stay updated on the latest tools, technologies, and best practices.
Network: Connect with other agents, industry professionals, and local influencers. Collaborate and share insights.
Adapting to changing trends isn’t just about survival—it’s about thriving in a competitive market. By embracing innovation, staying informed, and putting your clients first, you’ll position yourself as a trusted real estate advisor.
The real estate industry can sometimes feel like a crowded room, with agents jostling for the attention of new listings and open houses. But fear not! Even in a saturated market, there are ways to rise above the noise and carve out your unique niche.
In a crowded market, differentiation is your superpower.
This blog post will explore some strategies to differentiate and thrive.
Craft Your Personal Brand: Your personal brand is your secret weapon. It’s what sets you apart from other agents.
Define Your Unique Selling Proposition (USP): What makes you different? Maybe you specialize in historic homes, eco-friendly properties, or luxury condos. Identify your USP and weave it into your brand.
Tell Your Story: Share your journey, experiences, and passion for real estate. People connect with stories, so use yours to create an emotional bond with potential clients. One of my real estate sales coaching clients personally experienced a home foreclosure in the past – he uses his story – to relate to others in similar circumstances.
Leverage Technology Creatively: Technology is about more than just posting listings online. Get creative:
Virtual Tours with a Twist: Instead of the usual 360-degree tours, host live virtual tours where viewers can ask questions in real-time. Make it interactive and memorable, like a virtual open house.
Social Media Magic: Don’t just post listings; showcase your expertise. Share home improvement tips, neighborhood highlights, and behind-the-scenes glimpses of your work.
Collaborate and Network: In a crowded market, collaboration is key.
Team Up with Other Professionals: Partner with mortgage brokers, interior designers, and contractors. Offer joint workshops or webinars. It’s a win-win for everyone.
Community Involvement: Attend local events, sponsor charity drives, and volunteer. Being an active community member builds trust and visibility.
Client-Centric Approach: Your clients are your best advocates.
Create Exceptional Customer Experiences: Go above and beyond. Surprise clients with handwritten notes, personalized closing gifts, or a moving day or “welcome to the neighborhood” pizza party.
Referral Programs: Encourage satisfied clients to refer their friends and family. Compliantly reward them for their loyalty.
Success Stories: Agents Who Nailed It: Let’s meet some agents who turned the saturated market into their playground:
Maria, the Neighborhood Historian: Maria specializes in historic homes. She hosts walking tours and shares fascinating stories about each property’s past. Buyers love the history lesson!
Jake, the Green Guru: Jake focuses on eco-friendly homes. He partners with local environmental organizations, planting trees for every home he sells. His clients feel good about their purchases.
Sophia, the Social Butterfly: Sophia’s Instagram game is strong. She posts stunning home transformations, client testimonials, and even her favorite coffee spots, and her followers become clients.
Be yourself vs. trying to be like someone else. Let your passion and interest drive your client base.
In a crowded market, differentiation is your superpower.
Craft your brand, embrace technology, collaborate, prioritize clients, and learn from success stories. Remember, even in a room full of agents, you can shine bright, which is how you win the day!
We’re halfway through the year, and I’m curious: how are your New Year’s resolutions holding up?
Here’s a quick question for you to consider:
“Do you prefer the pain of discipline or regret?”
Research shows that we regret those things we have not done MORE than we do the things we have done. Can you relate?
What I’ve experienced personally and observed in others is that procrastination blocks us from creating the business and life we want to the fullest. You already know that we procrastinate because taking action can cause us a certain amount of “pain, a certain amount of discomfort.”
Coaching clients have shared with me the following:
“I avoid undertaking certain tasks because of the risk of shame, vulnerability, or failure.”
Taking action means we might be making a mistake, or we might fail. Let’s face it, it’s easier to not take action and avoid the pain of looking less than perfect. Thus, many instinctively retreat to their comfort zone and miss creating their ideal business. In trying to protect ourselves from failure, erecting our own barriers to success is easier. Can you relate? If you’ve ever been in this place – as I have – how do you get out?
Psychologists call this a strategy of self-sabotaging. Research shows that we protect our sense of self-competence by creating impediments that make success less likely. And believe it or not, we as humans tend to do this more when the stakes are the highest.
So how do we procrastinate less and take action more?
Practice… practice taking action faster and more often. Get an accountability partner and join a mastermind group. By taking more small steps that lead to more significant steps, you’ll build the “take action muscle.” By creating an accountability partner and mastermind group, you’ll have others who can help you discern what is an excuse and what’s not.
Consider these 5 action steps:
Remember, a goal is NOT a system. A system will produce what a system will produce nothing less, nothing more. For example, losing 10 pounds by September 1st is a GOAL, and learning to change your eating habits is a SYSTEM.
Make your goal tangible and specific. “Grow my business” sounds great but is also meaningless.” Land five new clients a month” allows you to determine exactly what you need to do to land those clients. Always set a goal that allows you to work backward and create a process to achieve it. It’s impossible to know exactly what to do every day when you don’t know exactly what you want to achieve.
Make it matter to you! If you want to get in better shape, so other people will think you look better at the pool this summer, you’re unlikely to follow through. Ultimately, who cares what other people think? Yet, if you want to get in better shape because you want to feel better, feel better about yourself, set an example for your kids, or prove something to yourself, then you’re much more likely to stick with it. Now your goal has meaning–not to your doctor, not to strangers at the pool, but to you.
Make it positive. “Stop criticizing other people in meetings” is a great goal, but it’s a negative goal. It’s much harder to give up or stop doing something than to embrace a new and positive challenge. For example, setting a goal like” stop eating sweets” means you constantly have to choose to avoid temptation. Since willpower is often a finite resource, why put yourself in a position of continually needing to choose? When you pick positive goals, you’ll work to become something new rather than avoid being something you no longer wish to be.
Focus on the process, the daily process. All the incredibly successful people I’ve worked with have one thing in common: They set a goal and then focus all their attention on the process necessary to achieve that goal. Sure, the goal is still out there. But what they care about most is what they need to do today, and when they accomplish that, they feel happy about today.
So, I’ll ask again: Do you prefer the pain of discipline or the pain of regret? The choice is yours.
We all carry a little ego and pride within us, yes? They’re like two sides of a coin: one shiny and the other tarnished. But how do we wield this coin wisely?
The Ego: Friend or Foe?
Ego is that whisper that says, “I’m better than others.” It’s the silent applause when we outshine someone. But beware! An inflated ego can be a stealthy saboteur. It blinds us to our flaws, muffles our curiosity, and distances us from genuine connections.
Self-Awareness Checkpoint
Pause and reflect:
Are your actions driven by genuine self-worth or ego?
Do you listen more than you speak?
The Paradox of Pride
Pride the medal we pin on our chests after a hard-fought victory. It’s the warmth of accomplishment, the “I did it!” moment. Yet excessive pride can morph into arrogance. It builds walls, making it hard to admit mistakes or seek help.
The Empathy Bridge
Cross it:
Understand that everyone has their battles.
Recognize the worth in others—their struggles, their victories.
The Learning Mindset
True wisdom lies in acknowledging our limitations. When we learn, our ego shrinks, and our pride becomes a stepping stone.
Gratitude Attitude.
Practice it:
Celebrate your achievements, but remain grateful.
Excessive pride blinds us to the collective effort—the mentors, the late nights, the shoulders we stood on.
The balance?
It seems we don’t obliterate ego and pride; we channel them. Like a river, they can nourish or flood. So, let them flow constructively.
John D. Rockefeller, the founder of Standard Oil, left an indelible mark on business history. His disciplined approach to management and leadership principles inspired Verne Harnish to outline the “Rockefeller Habits.” These habits, originally embraced by Rockefeller himself, can transform your business. Whether you lead a team of 1 or 500, implementing these habits can create a winning “operating system” for your organization.
The 10 Rockefeller Habits
Healthy and Aligned Executive Team
Your company’s performance hinges on its leadership team. Ensure they understand and complement each other’s strengths. Regular meetings and commitment to learning are essential.
Quarterly Focus
Everyone should be aligned with the #1 priority for the quarter. This clarity drives progress and prevents distractions.
Effective Communication Rhythm
Establish a rhythm for sharing information across the organization. Timely communication keeps everyone informed and engaged.
Accountability for Goals
Assign accountability for achieving goals in every facet of your organization. When everyone knows their responsibilities, progress accelerates.
Employee Input and Feedback
Collect ongoing input from employees to identify obstacles and opportunities. Their insights are invaluable.
Customer Feedback Analysis
Treat customer feedback data as crucially as financial data. Regular analysis ensures you stay customer-centric.
Living Core Values and Purpose
Infuse your organization with core values and purpose. When these are “alive,” employees feel connected and motivated.
Articulate Strategy
Every employee should understand the key components of your company’s strategy. Clarity empowers action.
Quantify Employee Satisfaction
Can your team quantify whether they had a good day or week? Regularly assess employee satisfaction.
Transparency in Plans and Performance
Make your company’s plans and performance visible to everyone. Transparency fosters trust and alignment.
Implementing the Rockefeller Habits isn’t just about business growth; it’s about creating a thriving culture. Embrace these habits, adapt them to your context, and watch your organization flourish. Remember, it’s not the size of your team that matters—it’s the commitment to excellence that defines success.
Mark, are there other management operating systems to consider? Fore sure, many of the clients I work with our 4DX or EOS shops. It’s really up to which process resonates the most with you and your team. Pick your system and get started – remember a system will produce what a system will produce, nothing less and nothing more!
Not happy with your results? Be HARDER on the system.
A System Will Produce What A System Will Produce, Nothing Less and Nothing More!
“No pain, no palm; no thorns, no throne; no gall, no glory; no cross, no crown.”
What is Penn saying?
“Endure to Cultivate Success” – The journey to success is akin to nurturing a garden; it requires diligence and resilience. Just as a gardener patiently cares for their plants before reaping the harvest, one must toil and persevere to attain their aspirations.
“Embrace the Thorns for the Throne” – True triumph is not without its trials. The path to greatness is lined with thorny obstacles, but it is through facing and overcoming these challenges that we ascend from the depths of difficulty.
“Bitter Trials Bring Sweet Victories” – The road to glory is often paved with setbacks and sour moments. Yet, it is by navigating through these bitter experiences that we pave the way for substantial accomplishments. If you find yourself amidst adversity, remember this adage.
“Sacrifice Paves the Way to Leadership” – Reflecting on his Quaker beliefs, Penn draws a parallel to the spiritual realm. Leadership demands sacrifice and endurance, much like the spiritual quest for a higher reward.
Someone told me today, “You think differently!” I picked up on this by studying George Patton: “If everyone is thinking alike, then somebody isn’t thinking.”
Yet what I’ve learned the most is summarized by Tim Ferriss: “It isn’t enough to think outside the box. Thinking is passive. Get used to acting outside the box.”
Staying on top of the housing market is key to serving your clients. Here’s a quick snapshot of the latest trends that will impact your real estate practice:
Price Adjustments: Sellers are increasingly adjusting their expectations, with a notable uptick in price reductions from initial listings in the last few weeks.
Conditions Count: Homes that aren’t “move-in” ready are facing pressure in this competitive market.
Market Dynamics: A significant 34.4% of homes on the market have experienced price corrections, signaling a shift in supply vs. demand.
Buyer’s Options Expanded: With a 36% increase in inventory compared to last year, buyers now have a wider selection to choose from.
Regional Variations: While New York and Nevada maintain a tighter grip on their inventory, Texas is experiencing a bump in sales activity thanks to a more abundant selection.
Mortgage Mysteries: Curious about what drives mortgage rates? They’re more intricate than you might think. Send me a direct message for a detailed breakdown.
Sales Trends: The rhythm of new sales has dipped recently, but the overall pace remains consistent with last year’s figures.
Understanding these trends is one thing, but distilling them into actionable insights is where true leadership shines. For a personalized analysis, slide into my DMs for a one-on-one chat.
