Not Just an Agent – A CEO…

Good Morning! Fall has just about arrived.  Are you ready to finish this year off right?  Many real estate agents will wait until December to start planning for 2013.  The best agents will start right now!  Are you ready to run your business like a CEO of a Fortune 500 firm?  It takes work, commitment, stamina, and drive.  We know you can do it and we have set forth a blueprint for you to follow.  It is time to take off your sales person hat and put on your best suit.  Today is the day you stop working solely in your business so that you can start working on it.  Are you ready?  Get set. Go.  Your business, your career, and your life are about to change.  Enjoy the ride!
 
HOW TO BECOME THE CEO OF YOUR REAL ESTATE BUSINESS
PLAN
What is Your Mission ? – What are your goals?
  • Goal Setting is KEY to a successful career in real estate. How do you structure your time if you don’t have a concrete plan as to where you’re going?
  • Strategic planning of where you want to be on a weekly, monthly, yearly basis
  • Set concrete goals for Gross Commissions, Net Commissions, Units Sold
  • Your goals must be CLEAR, ACHIEVABLE, MEASURABLE and THEY MUST SUPPORT THE FUTURE YOU PICTURE FOR YOURSELF.
  • Your goals must be WRITTEN… post them on your mirror, on your screen saver, in your car. You want to see them all of the time!  At first you’ll only see the lists you’ve posted… after time, you’ll picture yourself meeting the goals.
 
BRIEF
What is your course of action for achieving your plan?
  • 5 MINUTES A DAY: At the beginning of every month, every week, and for 5 minutes every day spend time briefing your goals and determining what you can do at that point of time to make them happen.  If you work on briefing your action plan for 5 minutes a day, 6 days per week, then at the end of 1 year… you will have spent 48 hours… 2 full business days just evaluating your plan and working on a course of action for achieving your goals.
  • SET ACTION STEPS: What must you do each day, week, month, to achieve your goals?
  • GATHER RESOURCES: Evaluate the resources you have to achieve your business goals.  Are you using ALL of the tools available in order to ensure that you meet your goals?
     Education:
    • Do you participate in all of the educational opportunities at the office?
    • Do you regularly participate in the training available at the board?
    • Have you visited the training programs available at RE/MAX Mainstreet (www.remax.net)?  There are hundreds of training and motivational videos available for FREE!
    • Do you go to all of the NAR events?
      Information:
    • What’s the average days on market in your area?
    • How much have prices fluctuated in your town?
    • What firm has the largest percentage of expired listings in your town?
    • The Multiple Listing Service holds a wealth of information that most agents will never even care to look at.  Most agents are sales people and not CEO’s.  Put on your CEO hat and spend time every week reviewing this all important information.
    • Where do 85% of all buyers come from?
    • How do most sellers choose a Realtor?
    • What percentage of For Sale By Owners eventually list with a Realtor and what is the average time they spend marketing the property themselves first?
    • Much of this statistical data is available on the NAR website!
    • If you’re running your business like a CEO of a Fortune 500 Firm… you better know this like the back of your own hand.
     Brand Awareness:
    • A portion of your hard earned dollars goes into building the most notable name in real estate….. how does that affect your business?
    • Why is RE/MAX the best firm in the industry?
    • Do you understand what makes us different then conventional offices?
    • Why does it matter than 51% of all real estate advertising is by RE/MAX?
    • Why is it important to know that there is a worldwide referral network?
    • Do you understand how RE/MAX is the leader in technology and why that’s important to your business?
     Marketing:
    • Do you regularly visit RE/MAX Mainstreet and browse the downloads for free marketing materials?
    • Have you tried RE/MAX Design Center?
    • Have you taken a course on web design, social networking, blogging, or marketing design?  There are evening adult education courses available at the local high schools and community colleges.
    Networking Events:
    • How much time do you spend networking with potential clients?
    • When was the last time you attended a business mixer, a builders meeting, a home show, a bridal expo?  Have you set aside time on a monthly basis for putting yourself out to the public as a real estate professional?
    • How often do you attend RE/MAX events?  Yes, other Realtors are a potential opportunity for business too!
     Database:
    • Where will your next deal come from?  Probably someone in your sphere of influence or a past client?
    • Do you know who your sphere is and who your past clients are?
    • Is the information organized and readily available at your fingertips?
    • How do you remind your past clients that you are still in business?
    • Do you have a system for making sure you add new possible clients daily?
  • IDENTIFY THREATS: What could be a potential hurdle to your getting your meeting your goals?
    • Overpriced Listings
    • People or projects that suck away your time and energy
    • The competition – Do you know your competition better than they know themselves?
  • SET CONTINGENCY PLANS:
    • Nothing ever goes exactly how we planned it.
    • Flexibility is the key to power.
    • Preparation is the key to flexibility.
EXECUTE
 
You know the plan, you’ve briefed the important elements, now you have to execute.
  • DO, DO, DO, DO, DO!!!
  • Don’t EVER settle for mediocrity.  You know what you have to do so just do it!!!
  • If you set a plan for yourself every day and put it into writing there is a much smaller likelihood that you won’t do it.
  • SNOOZE BUTTON THEORY:  Don’t run your life on the Snooze Button Theory.  The Snooze Button Theory is a business model where you allow yourself opportunity to put off doing tasks to another time.  What researchers are just beginning to realize is that those that run their business under the Snooze Button Theory are 77% more likely to end up finding themselves caught in the SNOWBALL EFFECT.  The Snowball Effect essentially says that if you keep putting off DOING then those items which have been put off end up snowballing to such a massive quantity of work (also known as task saturation) that it invokes the HOLEY POCKET SYNDROME.  The Holey Pocket Syndrome is where you wake up one day and think there must have been a hole in the pocket of all your pants because, after checking through all of the pockets in your closet, you’ve got NO DOUGH!
Snooze Button Theory + Snowball Effect = Holey Pocket Syndrome
  • TIME BLOCKING:
    • You’re a professional – time block the important parts of your plan.  Don’t let anything get in the way.  As a true professional you can dictate when and where you meet your clients.
    • Actually mark off your calendar each day with the action steps you’ll be taking during those times.
    • Don’t bend – you are the CEO – you decide what you’re doing when.
  • USE CHECKLISTS:
    • Make checklists each day of the action steps you must take to meet your daily, weekly, monthly and yearly goals.
    • Your daily checklists must be achievable.
    • Don’t be a victim of task saturation.
  • ESTABLISH MUTUAL SUPPORT:
    • Find a partner that supports your goals.  Ask them to check in with you on how you’re coming with goals each week.
    • Be accountable to someone besides yourself.
    • Let your partner know that it’s ok for them to let you know when you’re slacking and when you’re doing great.
    • Don’t ever lie to yourself or to your support partner.
 
DEBRIEF
  • At the end of each day, week, month and year, debrief your planning, briefing, and execution process.
  • What works for you in your business?
  • Where is the business coming from?
  • What lessons have you learned and how does that make you change things?
  • How will you change your business today, tomorrow and for the future so that you run an efficient business?
  • Reward yourself for what you’ve done right!
WIN

Your goal should be to implement a disciplined management process. You can only win if you have planned carefully, briefed your plan thoroughly, executed your plan with discipline, and debriefed your successes and failures.  Luck can lead to your desired result some of the time, but it can’t be easily duplicated every time without a disciplined process.  In the end, real winning happens when you apply the tools of Flawless Execution.

 

Have a great weekend!!!

To find out more about RE/MAX Elite, visit www.BecomeAnEliteAgent.com

 

 

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