Coach (and new sales manager) Ron Cronin did a great job. Below are the notes, enjoy!
December 8, 2011, Los Angeles, CA
There are only three ways to get business
1. Wait for business
A. open house
B. floor time
C. wait for COI/PC to call you
2. Buy your business
A. ads, benches, branding
3. Find your business
A. door knocking
B. phone prospecting
C. calling COI/PC
Mike says 75% of your day should be income generating Activities
prospecting
Previewing property
Negotiating offers
Pre-qualifying buyers & sellers
Listing appointments
Qualified showing appointments
The other 25% is admin work.
Seven mistakes agents make at the beginning of the year
1. They start the new year too late.
Most agents don’t start working until January 15th and some agents wait till as late as January 30th. The great agents start January 2nd.
2. They start without a good solid workable business plan
A few items included in a solid plan include a sample daily schedule, last years numbers, challenges you will face and ways to combat them. More on business planning later.
3. They don’t follow up quickly enough on all of their leads
By not acting fast enough you will lose 2-3 contracts in the month of January to other agents.
4. They don’t intensify the amount of prospecting in January.
Would you rather start the year with a head start or play catch up all year long?
5. They don’t commit to a strong daily schedule.
Productive daily activities include:
Preparation
Practice/preview
Prospecting
Lead follow up
Lunch
Return phone calls
Prepare for appointments
Admin work
Going on appointments
Showing property
6. They don’t do a solid critique of the last 12 months.
Look carefully at your areas of weakness and also your strong points to be prepared for the new year and make adjustments where necessary.
7. They don’t source their business.
By sourcing your business you can focus on the better sources of business and adjust the areas that are lacking.
Business planning
1. A business plan is a working document that outlines what you have done, where your going and the steps required to get there.
2. It can change monthly or quarterly. Review your plan often and adjust as necessary.
3. Your business plan should consist of following:
Annual recap
Business sources for last year by percent and number
Current year production goals
The numbers required to achieve your goals
Action steps to be taken
Any coaches suggestions
4. We got to make a strong commitment to a 20% increase in business and personal growth every year.
5. Review your numbers weekly.
6. Have your business plan completed and to your coach by Nov 1st.
7. Have at least three accountability partners.
8. Tracking your numbers is the foundation for a great plan.
9. Be patient with your plan.
10. Spend time thinking about what you want with your business.
11. Your business plan needs to be in the open. The more people who know about it the more likely you are to achieve it.
12. Removing drama and emotion will help you follow your plan.
13. You should start your day by reading your plan.
14. Work everyday to remove obstacles that get in the way of your business.
Identify obstacles
Developed ways to overcome them
Get what you need
How to plan and structure your day.
1. Take 15 minutes in the morning or late afternoon to plan your day
2. Decide to make it fun
3. Decide your outcome in advance
4. Remember real estate is 90% attitude
5. List all the activities neccessary to achieve your goal
6. Prioritize into must do, should do, could do
7. Mindset breaks
8. Prospecting and lead follow up are two separate things
9. If you don’t set times to return phone calls you are answering calls all day
10. Plan for daily, monthly, & yearly plans…maybe even a weekly plan
Seller Prospect Objection: We want to wait till after the new year.
Response: That sounds important, can you tell me more about that.
Today you have three opportunities with prospects you speak with now:
1. Meet with them now and list them today.
2. Meet with them now and post list the home for January
3. Set an appointment with prospect for January
