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Closing
a Client
Too often I see agents turn uncertain when it comes
to getting a client to sign an agreement. It is that
moment of indecision that causes agents to lose sales
and listings. Here are a few thoughts that can take
you over the threshold to more listings and sales.
You have to assume success. The Champion agents who
assume that they are going to get a contract signed
have much greater success. Don't go in asking for the
business first. Assume you are going to get it, then
ask.
Once you assume, then you must decide that you are going
to get it done. Don't let anyone take you off the track
towards your goal. I had a coaching session recently
with a Champion agent. She was working with a problem
buyer. |
The buyer was getting on her nerves.
She had an appointment later that day to show the buyer
a house that really fit her needs. I asked her a series
of questions about the buyer. She concluded she needed
to sell her this house tonight or cut her loose. I counseled
her to assume and decide that she was going to get this
lady sold. That evening she did exactly that. Her mental
decision to take action with this client made the sale.
The next step is to keep asking. Don't be stopped by
the first no. If you ever watch a four-year-old, no
doesn't bother him. He will continue to ask until he
gets a yes. Did you know that the average sale is made
after five no-s? Do you stop before or after the fifth
no?
Growth is the part of the business that brings in the
revenue for your business. The more time you spend of
your day in growth, the more income that you will make.
Most agents focus little time on growth activities daily.
They work on growth activities at the last minute, when
they are running short on funds. The problem is that
is too late. To have a steady business income you need
a steady approach to growth.
Growth is the prospecting that you do daily. It is the
listing appointments that you have for the day. It is
the lead follow-up that you are doing on the people
who want to buy or sell. It is the meeting with your
lender to work on your competitive advantage in the
marketplace.
Growth is the critical part to any business. Without
growth a business will fail. I know a lot of agents
who are highly skilled in growth and poorly skilled
in administration and working on their business who
earn large amounts of money. I know of very few successful
agents who are not highly skilled at growth. You can
have huge deficiencies in administration and working
on your business but still win the game. You can not
be deficient in growth and win. My focus is to help
our clients achieve a high level of skill in all three
areas. Growth is the engine that powers the train; you
must first pay attention to growth.
Growth demands a minimum of three hours daily in the
activities of growth: prospecting, appointments, lead
follow-up, and meeting with affiliates. Prospecting
should comprise 65% of the growth time daily. If the
prospecting does not happen, the other growth areas
will wither. Remember the higher the hours spent on
growth, the higher the income and profit.
Administration:
These are the activities that complete the income stream:
Processing the listing so agents can find it in the
MLS Processing the sold property through escrow Communicating
with your clients on a regular basis Directing your
staff and monitoring their progress
These activities done well will enable you to turn clients
into fans who will look for new business for you. You
will need one to two hours daily for administration.
If you create a good system and have a highly trained
and skilled staff, your time spent in this area will
be reduced. In the perfect system administration gets
done well, but the agent spends little of his personal
time on it.
On your business:
This is the time that most people neglect. This working
on your business really separates long-term success
and growth from just running faster on the treadmill
of life. Long-term financial success lies in this section
of your day. The ability to earn more profit is also
located here.
We are all really employees of our own little real estate
business. We are the ones who bring in the business
and make the system go. The more time we plan, read,
strategize, practice, role play, and implement our ideas,
the more ownership we gain. Becoming the owner of your
real estate business only happens through diligent work
on your business. Instead of being the employee who
works to draw a salary and pay the bills, why not become
the one who orchestrates the company? Be the one who
has something to sell when he wants to try something
else and/or retire.
Working on your business is truly taking a step back
from the daily rat race and to look at your growth and
administration areas for ways to improve them. Look
at your productivity and profitability then evaluate
your progress. You cannot make meaningful change without
evaluation as an owner, rather than as an employee on
a tread mill.
Working on your business is critical to helping you
move to the next level of production, or to decrease
time worked without reducing income, or finding where
to cut expenses by 10%. Working on your business will
help you create economies of scale in administration
and new ways to produce growth and income in your business.
You need one hour per day of working on time. For every
minute you plan you will save ten minutes in implementation.
What do you think your business would look like in 90
days or even six months if you were to implement the
below daily routine?
Growth: 3 hours
Administration: 1 to 2 hours
Business: 1 hour
Time block these activities into your daily routine.
You will be amazed at the results you will achieve,
even in one week. Do not allow the distractions to overtake
you and your new daily focus. Do not neglect to do the
things that will lead you to success. Do them daily
without fail. |
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