Property ManagementBack to Basics
You"ve seen the unassuming agent who quietly takes consistent actions and
eventually becomes a top producing agent. It isn"t rocket science. Real Estate
is a numbers game. Know what basic actions produce results and just do it over
and over again, and you will become successful. Simple, isn"t it? But it"s not
always easy.
I"ve heard laments lately from agents about the lack of listing
inventory and how FSBO"s are selling their own homes. When market conditions
change, it"s easy to panic and look for a new way to approach things. In many
areas of the country, the inventory is moving quickly. While, it may seem like
different or new strategies need to be found, it"s the agents who are good at
the basics that will, as always, be the top performers.
Is it time for you to get back to the fundamentals? Have you forgotten
that by focusing on taking consistent action, the outcomes will take care of
themselves?
The Basics Remain:
Farming is creating a niche.
Prospecting is focusing on your client base to become clients for life.
Nurturing a relationship is creating strategic marketing alliances.
The old rules that it takes consistent, repetitive messages that are part
of a cohesive plan to build marketshare is still operable with marketing
on the Internet. And, by the way, the latest available statistic shows Fewer
FSBOs are selling their own homes, down to 14% from 19% in 1992.
So, think for a moment about the top athletes:
We"ve heard lots of stories about their fanaticism about the basics. The
top performers in any field have the basics down very, very well. While others
look for a quick fix or a new way to become an overnight success, the top
performers have become masters at the tried and true. Then they can improvise
and give it their own style. They focus on the elements of doing their job
that they can control and they practice and perfect. Basketball great, Larry
Byrd would show up hours before game time to practice, walk every inch of the
court to check for dead spots, to check the angles and the lighting. And, then
to practice a few more baskets.
Yes, the great ones practice: they rehearse over and over until they can
do the basics with their eyes closed, without thinking about it. The ballerina
becomes the dance, rather than doing the dance. This level of concentration and
mastery often produces what is described as "being in the zone."
Patricia Fripp, a national speaker whose began her working career as a
hairdresser, says it took years of practicing the basic hair cutting techniques
before she was ready to freeform cut.
Focus on the Fundamentals
Each year, different speakers and programs promise you"ll get rich with
their quick fix. Agents spend lots of money on tapes and seminars to make them
successful. They want the magic formula, fancy techniques and new twists. Now,
don"t get me wrong.. I believe in sharpening the saw, in raising your
standards and learning new technologies. But the fact remains: You already
know most everything you need to be successful you just aren"t doing it
consistently.
Aristotle said " We are what we repeatedly do. Excellence then is not an
act, but a habit."
What are the basic actions that must be taken to take your business to
where you want it to go? Identify these as daily, weekly and monthly actions
and then systematize. For instance, a daily action might be 5 warm calls or 1
hour prospecting expireds. A weekly action might be a planning session with
your team. A monthly action could be your newsletter mailing.
If you have a business plan, these actions should be an integral part of it
and one that you fine-tune and tweak quarterly. If you don"t have a business
plan, this is a good place to start
Take your business to the next level in 1 area this month by implementing
a SDA: Single Daily Action. What action taken every day with produce the
momentum for you? Then schedule it on you calendar as the most
important.
Prepare, Prepare & Practice
The great ones focus on the actions to cause and prepare for success. The
ballerina does plies and floor exercises; the football player runs through the
tire maze; the opera singer sings scales. These actions, while not directly
seen in the performance, allow the performer to focus during the performance
and trust themselves to know the right moves instinctively. Frank Sinatra used
to say, " Before you go on the stage, you must know exactly what you are going
to do. I ought to know. Too many times I broke the rules - and paid a price
for it! Unless you already know the words to the tunes, you can"t let your
little boy out to play - can"t choreograph your stuff - can"t have fun".
Don"t use this step as an excuse for getting into action, though. Some agents
are always getting ready and it is a smokescreen that delays action. Just do
it. Don"t wait until it is perfect, but continue to perfect as you go along.
Take the area of your business identified above and determine what basic
actions will "buff it up." Buff is excellence plus personal style. First make
it great; then give it your unique flavor. Is your listing presentation the
best that it could be or does it need jazzing up? Is it time to add to your
pre-listing packet or your buyers presentation? Do you need to add a website to
your marketing package?
Whatever area you are going to focus on this month, do your homework, buff
it up and be READY for the performance.
Work with a Coach
I complained the other day to my massage therapist I was sore from my
workout with my exercise coach and he said, "Well, you wouldn"t think you were
getting your money"s worth, if you weren"t, would you?" He"s right. By making
me stretch and go beyond what I would do myself, my coach helps me get where I
want to go faster. And the fact that she shows up at my house twice a week,
causes me to exercise when I would probably find a good reason not to! The
accountability is inescapable when she is standing in my living room. Great
performers and athletes rely on coaches to push them to do their very best.
The best coaches focus on the individual"s strengths and help them enhance
their performance from where they have natural talent. A coach also has an
"off the field" perspective and can see what can"t get seen on the field.
They see the holes in the competition"s strategy and help the performer or
athlete overcome their own blind-spots.
Who is your support system? Do you have someone on your team that pushes
you up the ladder of success? Do you have a structure of accountability that
keeps you focused and on track Maybe it"s your partner or your office manager.
Or maybe it"s missing. What support structure would enhance your performance.
Is it time to hire a business coach? Former Dallas Cowboy"s coach, Tom Landry
said, "A coach is someone who makes you do what you don"t want to do, so you
can be who you want to be."
Most of us have a natural curiosity about anything that is new, or offers
the promise of quick, painless and effortless success. There is no "quick fix".
Sorry, life just doesn"t happen that way. If you remember the basics, focus
on taking actions and create a strong support structure, you will have put
into place the fundamentals of success. According to F. W. Nichol, "When you
get right down to the root of the meaning of the word "succeed," you find that
it simply means to follow through."
Prepare, practice, take action, follow through, buff it up. Then, you can
let the little boy (or girl) out to play and delight in the creativity
and joy of your success.