After working with literally thousands of Real Estate Agents, one would suspect thousands of unique problems or errors. Reality has shown us otherwise and, in fact, the truth is, that there are just a handful that keep popping up over and over again. And of that handful, there are only about five that account for almost 90% of the mistakes being made. This month’s message is to share them with you so you can learn from others.
Mistake #1 – Accurate Thinking
If you read Napoleon Hill’s classic marketing book, “Think and Grow Rich” you’ll find that he isolated 13 principles for creating wealth. One of those 13 principles is Accurate Thinking. It means understanding the way things work and not focusing on the way you believe things ought to work. You must be accurate about the way they really work!
Here’s an example of what I mean by this. Some agents believe that people will jump at the chance to list their homes with them because they see their picture in every paper. In reality that strategy does more for their ego than it does to pay their bills. The good news for you is that you are a student of Craig Proctor. Craig and his students have achieved high levels of success because they have an accurate understanding of how to market their real estate business. There is no need for you to reinvent the wheel. Craig’s marketing system is based on accurate and proven thinking. All you need to do is to follow it!
Mistake #2 – Relying on One Media
Not too long ago I was with a number of top level marketers and the conversation came around to OFFLINE Marketing. That might, at first, strike you as an odd thing for some of the best and brightest minds on the internet to contemplate. If you really think about it however, it’s not. You see, they are exploring and exploiting ways to get what they need from multiple sources. Put another way, by relying on one media, you expose your whole business and make it more vulnerable to any negative changes in your single media of choice.
We need not look any further than the world of Facsimile. At one point in time faxing was an industry leading way to generate new leads. Now, a few years later, it has virtually disappeared and has been relegated to a support position backing up other technologies.
Consider that Cold Calling was once a viable marketing method. Now it is a dreaded form, partially due to the constant turn downs (I mean, even the thickest skin has a breaking limit). The reality here is that you cannot afford to base your business on just one ad, one publication, just the Yellow Pages or even just the Internet. You wouldn’t create a team around just one player if you wanted to be successful. When that player goes down, what then? Then it also makes sense that as you build your business you build it around multiple media. It’s nothing less than good business practice. It’s Planning For Success.
Mistake #3 – No Follow-up
In an earlier Newsletter I talked about the importance of implementing your plan and priority list. So Mistake #3 is nothing less than not implementing. Unfortunately I know from experience that this is an area where many people, and not just Real Estate Agents, fail. But let’s consider your chosen field. Agents have spent their hard earned money generating a lead. That lead has expressed interest in either listing or buying a house. They send out some information and that is the end of the Campaign. They never contact that person, again! Considering what Craig Proctor teaches, that very few sales are made in the first contact, this is a major violation of his program. Consider this for a moment: how many times have you gone out to purchase a car and bought one on the first visit? It’s like love at first site. It can happen but successful relationships are generally the result of vigorous and steady contacts. In speaking with Craig and other successful people in this industry it would seem that the industry average is that most deals are closed on contact number 7. So, if your Contact Campaign does not reach out that far you may want to consider an adjustment to it. If you want to be successful, you have to make frequent contact a Priority. And the great thing is this does not have to be a time consuming activity for you or any of your office staff. You have the Technologies of LMS (Lead Management System), Voice Broadcasting, and Email available so you can completely automate these critical aspects of your business. If you would like to freshen up on how they can work for you, again, give us a call at 1-800-858-8889.
Mistake #4 – Doing It All Yourself
This follows on with some of what we have just reviewed in item 3. This is something not unique to Real Estate Agents. Many people in many categories of work have a problem with letting go. The assumption being that no one does it as well as they can. Others are just not comfortable in trusting, what they believe to be critical to their success, to others. Overworked people won’t hire a cleaning lady because no one can clean their house like they do. There are all types of excuses and they are all valid.
BUT, it is also important to recognize that trying to do it all is a path to stress, at best, and failure at worse. And, even if you CAN handle every aspect of your business, it doesn’t mean you SHOULD. At best it means you spend parts of your day doing work that could be handled by someone working for you. In this case you are robbing yourself of your life. Unfortunately, and more usually, it means you are working too hard to make serious money in real estate. So, how do you break the “Doing It All Yourself” habit? Employ systems to generate calls, capture leads, and sift and sort prospects so your time is allocated to people who are ready and willing (and capable) of doing business with you.
Mistake #5 – Analysis Paralysis
It is not uncommon for people new to the program to become overwhelmed with all of the new information, process and technology. If this is you, just accept it for what it is and then get on with your career. And it’s not that hard to do. Consider that when you got into real estate, you went into business for yourself. At this point you knew you would have to condition yourself to make business decisions.
What to do first is a matter of simple math.
You want to do the things that have the highest probability to succeed while having the lowest cost of implementation. And best of all, the whole process is already spelled out for you. All you have to do is TRUST and IMPLEMENT. And when you boil it all down, it really is not an insurmountable a task. To prove it to you here it is in a notes version:
- Activate your hotline services so you can have an automated robot generating hot qualified leads for you.
- Place your ads as directed by Craig
- Start to collect your leads and place them into your follow-up campaign
- Begin consistent automated follow-up with qualified leads and past clients
- Over time, hire staff allowing you to focus on the business you do best
- Start to realize the life you want.
Excuse me if you think I have over simplified the process but, if you look at it, I really have not. And if you think those few steps can all be accomplished in a day, a week or a month, you’re wrong. It will take time, it will take effort. But given those two things and your adherence to the program, success will come.
So don’t get caught up with all of the information you need to digest. AMS has group, or one-on-one training on all of the technology tools they offer, to get you started. Do these few simple things and watch success start to come. To borrow a line from Nike the most important thing is to “Just Do It”. Capture the success you so richly deserve!