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Tag: Real Estate Managers

The High Cost of Indecision: Why Acting Now is Essential

Mark Johnson 1 Comment

“To delay is to make the right decision harder.”

This simple statement holds a powerful truth: indecision itself is a decision—a decision to let circumstances dictate the outcome.

Think about it: not making a choice is still a choice. It’s a choice to remain stagnant, to miss opportunities, and to potentially face more difficult consequences down the line. This is the compound effect of indecision: small delays accumulate over time, making future decisions more complex and costly.

Time is a relentless force. It doesn’t wait for us to make up our minds. As time passes, options disappear, circumstances change, and the cost of inaction increases.

Consider these examples:

  • In business: Delaying a crucial marketing campaign could mean losing market share to competitors. Putting off hiring a needed team member could lead to burnout and missed deadlines.
  • In personal life: Procrastinating on addressing a health concern could allow a minor issue to become a major problem. Delaying difficult conversations can strain relationships and create lasting resentment.
  • In real estate: Waiting to list a property in a changing market could mean missing out on optimal pricing. Procrastinating on making an offer on a dream home could lead to losing it to another buyer.

How to Overcome Indecision:

While indecision is a common human experience, it doesn’t have to control your life. Here are some strategies for making decisions more effectively:

  • Define Your Priorities: Clearly understand what’s most important to you. This will help you evaluate options and make choices that align with your values and goals.
  • Gather Information: Don’t make decisions based on assumptions or incomplete information. Research your options and gather the necessary data to make informed choices.
  • Set Deadlines: Give yourself a timeframe for making a decision. This prevents procrastination and forces you to take action.
  • Weigh the Pros and Cons: Create a simple list of the advantages and disadvantages of each option. This can help you visualize the potential outcomes and make a more objective decision.
  • Trust Your Gut: Sometimes, your intuition can provide valuable guidance. If you have a strong feeling about a particular option, don’t ignore it.
  • Embrace Imperfection: Don’t strive for the “perfect” decision. Sometimes, a good decision made promptly is better than a perfect decision made too late.

Don’t let indecision hold you back from achieving your goals. By understanding the cost of inaction and implementing these strategies, you can become a more decisive and effective decision-maker. And that is how we win the day!

Perfection vs. Progress
Perfection vs. Progress

What Can A Gym Teach Us About Recruiting?

Mark Johnson Leave a comment

Equinox’s campaign “We Don’t Speak January” caught my attention. Equinox did not offer new members the opportunity to join on January 1st, which made a statement about the type of member they wanted. In their words, “it’s not you; it’s January.”

The company called the month of January “a fantasy, delivered to your door in a pastel-colored box.” The point they wanted to make is you are not a New Year’s resolution. Your business doesn’t start at the beginning of the year. And that’s not what being part of Equinox is about.

After some criticism and media buzz, the company doubled down on the campaign by posting, “January is a language we don’t understand…” followed by:

  • January wants you to start something you should already be doing
  • January needs a new outfit before it can begin
  • January stalling, short-cutting, and giving up are not who we are
  • January will not text you back next month

Around the same time this campaign broke, I had some update calls with brokerage leaders from across the country, and they don’t do January either; say what? I heard different words from them, like:

  • Talent attraction vs. recruiting
  • Selection vs. sponsoring
  • Clarity of vision on the type of office they are creating

Bold. These leaders are attracting the ideal type of associate selected to join their office. They were clear on the characteristics and types of agents they wanted and did not want. Empowering.

What’s the saying, “all agents are agents, yet not all agents are REALTORS®.” Do you want them all or just the ones that match your culture?

The Equinox campaign ended with “we don’t speak January – and neither do you.” What about you?

It’s not you; it’s January.

PS: Looking to increase your real estate team or office recruiting game? Book a demo to find out how we can 5X your ROI.

#WinTheDay

CoStar and Move – A Match Made In Heaven?

Mark Johnson Leave a comment

The acquisition of Realtor.com could boost competition, says Mark Johnson, Co-Founder of CoRecruit and former CEO of JPAR – Real Estate.

I recently had a call with Candace Evans, the Founder and Creator of CandysDirt.com, and she asked me if the CoStar and Move proposed acquisition was a big deal.  My answer was yes! The rumor on the street – started at the Inman Connect Conference – is a possible acquisition price of $3 billion dollars, and that certainly is a big deal.

My business acquaintance and friend, Steve Murray, co-founder of REAL Trends, said, “I’m not convinced a sale would have a meaningful impact for real estate brokerages. These firms think if they control the information, they’ll control the distribution of buyers and sellers to agents and change the economics to where they’ll be getting a bigger share of the commission dollar. I suppose all those things are possible, but Zillow hasn’t been able to pull it off.”

Rupert Murdoch’s News Corporation purchased Move Inc. for nearly $1 billion in 2014, followed by the 2018 acquisition of the Austin, Texas-based lead-generation firm OpCity. CoStar has spent more than $2 billion on residential real estate deals over the last decade, beginning in 2014 with Apartments.com and later acquiring Homesnap in 2020 to launch Citysnap. CoStar’s market cap has more than doubled since 2018 to $32 billion, compared to Zillow’s $10 billion.

You never know the true motivations of sellers and buyers, yet for Move, it could be cashing out at the right time to focus on other aspects of the business, and it seems CoStar might be taking advantage of a strong cash position and difficult market conditions to make a strategic acquisition at a favorable price. CoStar understands the business and has a strong track record of adding value. A new owner always brings new ideas and new innovations, and that typically drives more competition. And competition always creates more favorable pricing for users. For agents, teams, and brokers, this could be really good news.

Across the industry, you are seeing major players acquire tools and technology to serve the consumer and the agent from the contemplation of a home sale or purchase all the way through to closing, funding, and post-sale support. So this will not be the last acquisition we hear about as the big players in the industry want to capture a larger share of more services within the nearly 5 million homes sold each year.

Don’t Let Your Conference Inspiration Fade Away: A 4-Step Post-Conference Guide

Mark Johnson 1 Comment

Just attended a real estate conference like Inman Connect? Feeling inspired and loaded with new ideas? Conferences offer incredible opportunities to boost your knowledge, network with peers, and get pumped up for your business. Here’s the key:

Turning That Inspiration Into Action.

So many attendees return home overwhelmed and never implement what they learned. Don’t let that be you! Here’s a simple 4-step plan to maximize your conference investment:

1. Strengthen Your Network:

Conferences are all about building connections. Don’t let those precious contacts fade away! Within a week, follow up with the people you met. Send a quick email thanking them for connecting and mentioning something specific you discussed. This helps solidify the connection and opens doors for future collaboration, referrals, and knowledge sharing.

2. Leverage Social Media:

Showcase your commitment to excellence by sharing your conference learnings on social media! This demonstrates your dedication to professional development and positions you as a knowledgeable resource for your audience. You can:

  • Post key takeaways and insights from sessions attended.
  • Share photos from the event and tag relevant people.
  • Ask engaging questions to spark conversation and position yourself as an expert.

3. Turn Notes into Action:

Those conference notes are gold, but they’ll lose their value unless you act on them! Create a checklist outlining the key takeaways and action steps you’re committed to. Here are some additional tips:

  • Break down large goals into smaller, manageable tasks.
  • Set deadlines for each task to stay accountable.
  • Share your checklist with an accountability partner (e.g., mentor, coach) for additional support.
  • Use checklists to your brain’s advantage! Checklists help organize information, improve memory, and boost motivation.

4. Take Action NOW!

The best time to act on your post-conference inspiration is now. Don’t let procrastination steal your momentum! Prioritize your action steps and start implementing them as soon as possible. Remember, consistent action is key to turning conference learnings into real-world results.

By following these simple steps, you can transform your conference inspiration into lasting success. Now get out there and make it happen and win the day!

What's Possible?
What’s Possible?

It’s Not Necessarily How Hard You Try; Ask Avis

Mark Johnson Leave a comment

It’s not necessarily how hard you try; ask Avis. 

The top 1% know you can spend an inordinate amount of effort inefficiently and gain nothing, and sometimes you can invest less effort more efficiently and gain plenty. 

Choose more often what’s important over what’s urgent. 

The best entrepreneurial drug: momentum. And the hardest part of building momentum is starting. A barrier to starting: the daily whirlwind. 

Start with the “not to do list!”

Why? 

There are few things as pointless as doing something well that shouldn’t be done at all. 

#100DaysOfSuccess 

PS: Looking to increase your real estate team or office recruiting game? Book a demo to find out how we can 5X your ROI.

Start With The "Not To Do" List!
Start With The “Not To Do” List!

The Power of Persistence: Why Following Up is Key to Real Estate Success – Part 2

Mark Johnson 2 Comments

Persistence is different than pressure! 

In the competitive world of real estate, it’s not enough to simply make initial contact. The top 1% of agents understand the crucial difference between persistence and pressure—and they know that consistent follow-up is essential for closing deals.

Consider these compelling statistics from a study on service businesses:

  • Only 2% of sales are made on the first contact.
  • A staggering 80% of sales happen between the fifth and twelfth contact.
  • Yet, only 25% of leads ever receive a second contact.

These numbers paint a clear picture: most agents give up far too soon. They’re leaving money on the table by not consistently following up with potential clients.

Research specific to real estate sales further reinforces this point. A study revealed a significant difference in annual income between agents who made three contact attempts versus those who made five or more. The agents who persisted with more follow-ups earned over $100,000 more per year.

Persistence vs. Pressure: Understanding the Difference

What separates effective persistence from off-putting pressure? It comes down to intent and approach.

  • Persistence: This is about genuinely caring about your clients’ needs and providing consistent value. It’s about building relationships, offering helpful information, and staying top-of-mind without being pushy. Persistent agents focus on:

    • Understanding client needs and goals.
    • Providing relevant and valuable information.
    • Building rapport and trust.
    • Following up consistently and professionally.

  • Pressure: This is about focusing solely on making a sale, often at the expense of the client’s experience. It involves high-pressure tactics, aggressive communication, and ignoring the client’s needs. Pressuring agents often:

    • Focus on closing the deal at all costs.
    • Use pushy sales tactics.
    • Disregard client concerns.
    • Damage relationships.

How to Be Persistently Effective:

  • Develop a Follow-Up System: Implement a CRM or other system to track your leads and ensure consistent follow-up.
  • Provide Value with Every Contact: Don’t just call to “check in.” Offer valuable information, market insights, or helpful resources.
  • Personalize Your Communication: Tailor your messages to each client’s specific needs and preferences.
  • Be Patient and Respectful: Understand that people make decisions on their own timelines. Be respectful of their space and avoid being pushy.

Persistence, when done right, is about building relationships and providing value. It’s the key to unlocking significant success in real estate. Don’t give up after just one or two attempts. By consistently following up and focusing on your clients’ needs, you can significantly increase your sales and build a thriving business. And that is how we win the day!

 

Persistence Is Difference Than Pressure
Persistence Is Difference Than Pressure

Stop Incremental Growth: How to Take a Quantum Leap in Your Real Estate Practice

Mark Johnson 2 Comments

We live in a world of exponential change. Just think, today’s smartphones have the computing power of the entire US government in 1983! This kind of rapid advancement isn’t limited to technology; it’s possible in your business too.

Are you tired of slow, incremental growth? Do you dream of making a significant leap forward? The key lies in understanding the concept of a “quantum leap,” as outlined in Price Pritchett’s powerful book, You Squared.

Pritchett argues that we don’t have to settle for gradual change through sheer hard work. We’re capable of explosive growth with less effort by shifting our mindset and approach. It’s about working smarter, not harder.

Instead of listing all 14 principles from the book (which can be overwhelming), let’s focus on three key ideas that can help you achieve a quantum leap in your business:

  1. Challenge Conventional Thinking: Quantum leaps require breaking free from conventional wisdom. This means questioning “how things have always been done” and being open to new possibilities. For example, instead of focusing solely on traditional marketing methods, consider exploring innovative digital strategies or partnerships.

  2. Focus on the Desired Outcome: Pritchett emphasizes focusing on the “ends” rather than the “means.” This means having a crystal-clear vision of what you want to achieve. Once you have that vision, the solutions and resources will often materialize in unexpected ways. For example, if your goal is to double your client base, focus on the image of that doubled client base and trust that the strategies to get there will become clearer.

  3. Embrace Discomfort and Risk: Quantum leaps require stepping outside your comfort zone. It’s about being willing to take calculated risks and embrace the possibility of failure as a learning opportunity. This could mean investing in new technology, hiring new staff, or launching a bold marketing campaign.

Applying Quantum Leaps to Your Business:

Think about one area of your business where you’re currently stuck in incremental growth. Perhaps it’s:

  • Lead Generation: Are you relying on the same old methods that aren’t producing the results you need?
  • Client Management: Are you spending too much time on administrative tasks instead of focusing on building relationships?
  • Marketing and Branding: Is your messaging outdated or failing to resonate with your target audience?

Consider how these key principles of quantum leaps can be applied to these areas. Maybe it’s time to invest in a new CRM, outsource marketing tasks, or try a completely new lead generation strategy.

Don’t settle for small gains. By challenging conventional thinking, focusing on your desired outcome, and embracing calculated risks, you can unlock the potential for a quantum leap in your business. And that is how we win the day!

A System Will Produce What A System Will Produce, Nothing Less and Nothing More!

What Story Are You Telling Yourself?

Mark Johnson Leave a comment

Have you ever thought that the person you have the most conversations with is YOU? And if that is the case for you and me, then the next natural question is, “what story are you telling yourself?” 

Various studies suggest we have anywhere from 6,200 up to 60,000 thoughts a day! Not sure who counted them all, but that is a lot of conversations going on in our heads. 

From this, we can conclude that one of the tendencies of the mind is to focus on the negative and ‘play the same songs’ repeatedly. One study suggested that 80% of our thoughts are negative and 95% of them were the same repetitive thoughts as the day before. So why is this, and what can we do about it? 

 

Why is it easier to think negatively?

 

The fact is negative events have a more significant impact on our brains than positive ones. Psychologists refer to this as the negative bias or also called the negativity bias.  Combine this with what psychologists call a confirmation bias, and you have a one-two punch. 

Confirmation bias is the tendency to listen more often to information that conforms with our pre-existing beliefs. Through this bias, people tend to favor information that reinforces the things they already believe. These biases combined have a powerful effect on our behavior, our decisions, and even our relationships.

In the Leahy Study, 2005, from Cornell University, scientists found that 85% of what we worry about never happens, and 15% of the worries did happen. 79% of the subjects discovered that either they could handle the difficulty better than expected or that the problem taught them a lesson worth learning. So, the conclusion? 

 

97% of our worries are baseless and result from an unfounded pessimistic perception.

 

Some ideas to redirect negative thoughts: 

  1. Start with a mindset of “No Judgments.” 
  2. Reframe the story. 
  3. Reframe your expectations.  
  4. Find a healthy distraction. 
  5. Commit to keeping optimistic company. 
  6. Question and rotate the media you choose to consume. 
  7. Start a beginning of the day and end of day gratitude journal 
  8. Connect with a mentor, coach, or trusted advisor 

If we took the time to document all the thoughts that pass through our minds, we could write a book every day.  Yet would that book be one that anyone else wants to read? Create a better story, wrote a better book. The question is: 

 

Who’s in charge you or your thoughts?

#WinTheDay

 

Technology vs. Relationships

Mark Johnson Leave a comment

Technology vs. Relationships.
The top 1% approach it differently.

Peter Sheehan, a leading expert on generational change and business performance, wrote about how peak performers use technology yet stay in touch with genuine relationships.

There are over twenty different ways to affirm others, but you can reduce them to just two verbs:

Notice and Verbalize.

What would happen if today:

  • At family gatherings, invite everyone to mention something they admire about another family member.
  • Look for someone making do in disappointing circumstances and affirm their perseverance.
  • When someone helps you change your mind about an issue, affirm their persuasiveness and communication skills.

Success can take many forms, like affirming others through noticing and verbalizing.

#WinTheDay

PS: Looking to increase your real estate team or office recruiting game? Book a demo to find out how we can 5X your ROI.

Why Do Most Efforts To Change Fail?

Mark Johnson Leave a comment

Well, that is a bummer of a headline! Read on.

“Everyone thinks of changing the world, but no one thinks of changing himself.”

~ Leo Tolstoy

According to Harvard professor Dr. John Paul Kotter – and confirmed by my coaching experience – efforts to change fail due to a lack of a STRONG sense of URGENCY. In his book, “A Sense Of Urgency,” Kotter states:

Change efforts most often fail when those desiring to change do not create a high enough sense of urgency to make a challenging leap in a new direction. Urgency and urgency is key. Urgency is the state of mind that creates IMMEDIATE action in your new direction.

Once you have determined your desire, take action. Any action. A small step, a medium step, or a massive step. Taking action and taking more action is the ONE THING we must all learn to cultivate to achieve higher levels of success.

If you believe what you have in mind will make a difference, I just have two questions.

  • What are you waiting for?
  • What’s holding you back?

Whatever it is, push through it today and TAKE ACTION.

Share with someone right now the action step you are committed to taking… and ask them to help hold you accountable.

#WinTheDay

PS: Looking to increase your real estate team or office recruiting game? Book a demo to find out how we can 5X your ROI.