Business Systems — Chance Brown's Real Estate Blog

Content is King, Kinda

May 7, 2017 By Chance 1 Comment

A couple of weeks ago I published a blog post lamenting the poor or, more often, non-existent follow-up practices of most agents by offering the option of using political advocacy as an opportunity for providing resourceful, topical content to clients and prospects. This week, as I started planning out my post, I ran into what some people might consider a little bit of writer’s block. So, I went back to the topic of follow-up for agents and the one thing I hear most when coaching my agents.

What do I send to a client or prospect? How do I do it without being annoying or invasive?

Coming up with consistent, relevant, topical content is tough. There’s no doubt about it. I’m a huge fan of both Chris Smith of Curaytor and Dan Stewart of Happy Grasshopper. I think that both of them are truly experts in not only putting together plans for quality content, but more importantly, in my opinion, understanding the psychology of agents, clients, and prospects. This understanding of the way agents and the public think allow them to formulate and fabricate follow-up programs and content, whether original or curated that can be game changers for agents. They are truly content kings, and if you’re interested, available for hire to help you with your marketing.

So, I’d like to take a few minutes and discuss content in general and then discuss why it may or may not be important.

In my opinion, here are the 3 C’s of Content, because I’m clever like that:

1) Curated

Curated content is non-original content that can come from any number of sources. It could come from social media, the news, other people’s blog posts, and/or just about any source you can imagine. For example, last week in our local market there were news stories from several outlets about how the calculation of people’s credit scores would be changing towards the end of the year as FICO adopted a new scoring system. This would be a great story to send to clients. It’s topical for real estate, it’s relevant to just about anyone in your database, and it sets you apart as a resource to your clients and prospects.

Curated content is perfectly fine for any agent out there. I find that curated content is awesome for social media, but certainly has a place in more traditional follow-up media like mass or programmed email. You could use several curated articles in a monthly newsletter setting or just a scheduled “touching base” email. The only real negative to curated content is if you’re trying to use your content to drive SEO to your site. It just won’t work as well. Which brings us to…

2) Created

Created content is totally your original content. You create the content, publish it to your website/blog/whatever and then link your email topics and social media posts to that content. Created content really gives you the opportunity to showcase your skills and expertise. However, the big drawback to created content is the time and effort it takes. Trust me, writing this blog, even just once a week, can be a drag to come up with good content and present it in a readable format. If you’ll recall, the second sentence of this particular post was lamenting my writer’s block before it turned it into the absolute gold you’re reading right now!

That being said, I am extremely particular about my content and create it almost exclusively for my follow-up. About the only time that I use curated content in my marketing or follow-up is on social media. For most everyone else that isn’t a total control freak on this stuff, I think a healthy mix of curated and created content is a pretty solid plan. There is, however, never a time for…

3) Crap

That’s right, there’s never a time for crap content. What is crap content, you ask? Crap content is stuff like the garbage HouseLogic content that NAR provides for you as part of your membership. Here’s a bunch of completely generic articles that don’t really pertain to anyone at all and are going to bore the shit out of your clients so much that they’ll unsubscribe from your list and you’ll never get a referral again. That’s crap. That’s a do to, not for action. Your goal with follow-up, and everything else, should be to do for, not to. I don’t care to see your dancing leprechaun on St. Patrick’s Day or some cheesy ghost gif on Halloween. That’s total garbage and I already have like 50 other assholes sending me that crap every holiday. Don’t do crap content.

Why Content Matters

It may seem like a pretty simple answer, but it really goes beyond the surface. The simple answer is because you need to be doing follow-up and if you’re going to send stuff out it might as well be relatively decent. But the truth of the matter is that your regularly scheduled, consistent follow-up is going to be the thing in front of your clients’ eyes more than anything else. As such, it is probably your number one brand extension. So, if you’re sending canned crap content, people are going to think of you in similar terms. If you’re sending resourceful, personalized, topical and relevant content, you will be seen in the same light. If your goal is to be the resource to your clients and prospects on all things real estate, then be that in your service, in your marketing, and damn sure in your follow-up.

Why Content Might Not Matter At All

On the other hand, it totally might not matter at all. As I’ve lamented on here more than once, Realtors, in general, do a horrible job at follow-up, if they even follow-up at all. Just about every measured and measurable statistic on Realtor communication, follow-up, etc. clearly shows that next to none is the norm in the industry. So, at the end of the day, maybe just sending something at all is enough. I mean, I’d much rather see a really cool video clip of how they turn the Chicago River green on St. Paddy’s than your dancing leprechaun, but, hey, if you’re the only one sending it to me at least I got something. The fact that you are doing anything is better than probably 90% of your competitors. So, while I’d certainly love to see you send something that isn’t crap, your crappy message is better than nothing.

So, I guess the bottom line, 1000 words after my writer’s block lifted, is that if you aren’t doing follow-up or CRM touches or social media marketing, please start. No, seriously, stop reading this and start right now. If you don’t have a CRM and aren’t using it you aren’t running a business set for continued growth. If you are, good job! If you’re sending crappy content, that’s ok for now, but promise me you’ll work on curated and created content. You don’t have to be an expert writer to create and you don’t have to spend hours scouring every inch of the interwebs to find good curated content.

Be Accountable

February 9, 2017 By Chance Leave a Comment

Being an entrepreneur often means being on a metaphorical island all by yourself. Not very many people understand how your time is pulled in a myriad of directions, employing skills (or sometimes lack thereof) that you didn’t know you had, and becoming a jack of all trades while only a master of one. It’s not unusual to see the tasks that you really need to get done get set aside in favor of whatever you feel needs to be done right this second. Naturally, as soon as you put that fire out, the next one pops up. The result is that you continue to delay the things that drive your business while you take care of minor things to keep your business running.

The problem, as I see it, is not a delegation problem or a time management problem. Too often, the things that are distracting you from accomplishing your priority tasks are things that require it be you and need to be done in a timely manner. In my opinion, this is an accountability issue. Generally speaking, unless you have a true partner, a business coach, or a mentor relationship in place, you are probably also responsible for holding yourself accountable for your actions. I think that is a problem when it comes to 99% of the people out there. It’s hard to come home after a 20 hour day and say you didn’t work hard or get things accomplished, even when you didn’t accomplish the things your business really needed for you to accomplish.

So, how do you, in a world of real distractions, set everything aside and focus only on the tasks that truly need to be accomplished?

You have to, as far as I can see it, find a way to be held accountable. The problem with that is most entrepreneurs also don’t really care for being held accountable and so they seek out someone who will act like they are holding them accountable, but really is just having a five-minute conversation with them. What the entrepreneur struggling with accountability issues needs is someone who will, legitimately and with a blow torch, hold their feet to the fire.

So, who is that person? It depends. I think there are more examples of who that person isn’t than who that person is. That person isn’t, usually, your spouse. It should never, in my opinion, be an employee. It usually isn’t your best friend, brother, sister, parent, or anyone else that either a) doesn’t understand what you’re really doing, and b) isn’t tough enough to hold you truly accountable. Frankly, I think that the best person for this job is a coach. Because they are independent, they can do or say whatever it takes to get you to do the things you need to do. Moreover, because you pay for them, you are more likely to get your money’s worth. It’s kind of like the difference between getting a gym membership and hiring a trainer.

The bottom line is this: if you’re struggling with achieving the things in your business that you need to do to be successful, I believe an accountability partner is the key to getting back on track. Try it for a few months and see if it works for you.

Getting Ready to Get Ready

September 17, 2016 By Chance Leave a Comment

Have you ever found yourself facing a project to complete but, instead of starting, first you feel like you need to do some research, or get organized, or clean your office? Or maybe it was a personal goal like a diet you wanted to start, but you just need to get through this weekend first because you’re going to be out of town? Or, my personal favorite, have you ever been asked if you were ready to start doing (insert thing you’re supposed to be doing here) and simply answered no because you before you start you needed to do (insert thing you think you need to do first here).

At the end of the day, it’s all procrastination.

The question that matters for the purpose of this post, though, is why. Why are you putting off what you know you need to do, what you know you need to do? In my experience the answer generally boils down to one of two things, or sometimes both. The first is laziness and the second is a desire or need to have whatever the project is 100% perfect before unveiling it to the world. The first one is the easiest to tackle, so let’s get that out of the way.

Laziness

If you’re lazy and you know it clap your hands. Hopefully you aren’t clapping your hands right now, but some of you may be. So, without coming off as horribly rude, if you did, update your resume and get out of here. Real estate is a 24/7 hustle. Sustained success in this industry is not for the lazy. I hate to burst your bubble, but there are no overnight successes and HGTV isn’t waiting outside your testing center ready to give you a show as soon as you pass your licensing exam. Truth be told, we have enough lazy Realtors in the industry. We don’t need another one.

So, you can either get your ass up and go to work or get out of the way of those who do. The choice is yours.

Now, let’s get to the real point here.

Getting Ready to Get Ready

The idea of getting ready to get ready, or procrastinating in exchange for action is neither a new concept nor is it really unnatural. It’s why procrastination is such a problem for so many people. I mean, how many hundreds of books have been written on the subject? When you see people who seem to accomplish a great deal, it is usually not a natural thing. It’s usually a practiced skill, like any other skill. But there’s more to it than just having the initiative to tackle a project. Anyone can start on a project. The key is to finish your project, at least enough to launch it.

It Will Never Be Perfect

Do you own a smartphone? If you don’t, we need to have another discussion, but for now we will assume you do. Every couple of months I’m sure, like I do, you get a new update to the software on your phone, right? Of course you do. So, here’s the question. Why didn’t Apple or Samsung or LG or hopefully not Blackberry wait until every single aspect of their software was 100% perfect forever before releasing it? I mean, aren’t these updates just an admittance of failure?

No, of course they aren’t an admittance of failure. They’re a normal part of auditing systems and updating them for what is relevant at the time. Why then, do we feel like we have to have every aspect of a project perfect before releasing it? Our database has to be perfectly organized, classified, and every aspect of our follow-up system in place before we would even consider the idea of sending an email. We wouldn’t dream of publishing a website without every single last detail being perfectly in place. But why?

How about instead, as you organize and classify your database, you also call them? How about you put your follow-up program to work right now instead of waiting until you’ve written or created every single piece of content that will go out over the next 24 months? The bottom line is that it will never, ever be perfect. Ever. You will make adjustments as you go along or you will find yourself with the most perfect yellow pages ad of all time. In the immortal words of Nike, Just Do It!

You Don’t Know What You Need Until You Do

Until you start, you won’t really know what you need to do to finish. You can plan and scheme and dream, but until you get your hands dirty and actually start, you won’t know what you need to be able to finish. Dan Sullivan, executive coach and co-host of the popular 10X Talks podcast, calls it the 80% Principle. Based on all of the plans you make, you’ll probably be able to finish about 80% of your project. 80% is good enough. Launch it and then put the finishing touches on it. Seek counsel, audit, adjust, and continue to do so at regular intervals to ensure that your plan stays on track for the long-run.

Its A Marathon, Not A Sprint

I get it, you’re a Type A personality. I know. We all are. You’re a control freak. We all are. You feel like unless it’s ready it will make you look unprofessional. I get it. We’ve all been there. Remember, Rome wasn’t built-in a day and neither will your business be. Ten years from now you will likely look back and laugh at how much you worried over this stuff. The point is that if you never start the journey, you’ll never know. Sometimes the first step is the hardest, but, once you make it, each ensuing step becomes easier and easier.

Very Few Others Are Doing It

To wrap this up, let me drop a bit of unadulterated honesty on you. 90% of your competition isn’t doing it. Doing what you ask? Anything. Truly, they aren’t. Less than half of your competitors are using a CRM (and most probably aren’t really using one, they just pay for one), fewer than 10% use video, and the list goes on and on. Almost every statistic available on what agents do for follow-up and marketing is pretty embarrassing, really. So, as you sit there fretting over whether or not whatever you’re working on is good enough, just remember that 80% of anything is way, way better than 0% of nothing.

Book Review: Seven Levels of Communication

September 14, 2016 By Chance Leave a Comment

From the last post, you know that our brokerage has started a monthly Book Club. Our first book was Seven Levels of Communication by Michael Maher. As promised, a couple of times, here is my review of the book.

Bottom line: If you’re in sales or marketing, you need to read this book.

I have a general rule to judge the quality of a business book – If you can take two things out of a book and apply them to your business, it was worth the read. In the case of Seven Levels of Communication, if you can’t take a dozen tips out of this book, read it again. Seriously. It’s that good. Did I mention that I was serious? I don’t want to sit here and gush over 150 pages of paper, but this might be one of the best business books I have ever read.

First, Maher does a great job writing in parable format. The book follows a real estate agent, Rick Masters, as he transforms from a near drop-out to top producer through a coaching program that walks through the 7 Levels. I’m a huge fan of story-telling in non-fiction and Maher does it in a way that is both engaging and lacking arrogance. Honestly, as valuable as the information is, I’m not a fan of books by people like John Maxwell because they tend to be too much “Look at me and what I’ve done and you should be just like me.” This book is written from a perspective of a Coach and, as such, comes off as genuine and truly helpful.

Now, about the tips that the book gives you. The information contained in the book isn’t a reinvention of the wheel. To tell the truth, I imagine that the end product that Rick Masters becomes looks a whole lot like top salespeople from about 30 years ago. He’s more personal, caring, and doesn’t rely on technology and other new gimmicks to build his business. Instead, he relies on tried and true messaging and communication, but he does it with a plan and strategy.

The other great part of this book is that none of the strategies are really that hard to implement or expensive. The result of these strategies is a business that every agent dreams of, one built on referrals. The trick, like with everything else, is that the strategies have to be implemented with a personal touch and executed with discipline and consistency.

So, here’s the deal. I’m not going to reveal everything in the book because you really need to read it. I will tell you this, you will probably want to read it twice. Once you’ve read it once, you can go back
and take it tip by tip to implement in your business. Trust me, it’s worth it.

In conclusion, if you feel like you’re in a rut and need to get out of it, or your new to the business and want to get a jump-start, or are already producing at a good clip and want to take it to the next level, you need to read Seven Levels of Communication. Even if you only get a couple of things out of it or only implement a couple of the strategies, you will without doubt see the results in your business. You can pick up a copy on our Reading List page. Do it.

Our second book, Miracle Morning for Real Estate Agents, will be the next book review. You can also pick it up on the Reading List page.

The Communication Game

March 16, 2016 By Chance Leave a Comment

Not to get all deep and philosophical about things right out of the gate, but I have a serious fear for my children and my children’s generation. It’s a lack of communication skills. Between messaging and Snapchat and emojis and texting in slang or abbreviations, I have a serious fear that the communication skills necessary for success are quickly going by the wayside. I try, the best I can, to limit screen time, make my kids tell me stories or even just about their days, and teach them to look others in the eye when they are talking to them. I want them in speech in debate as they get older. Why?

I truly believe that your ability to communicate your point, regardless of what you are doing, is pivotal to your ability to be successful.

You may be asking yourself at this point just what the hell this has to do with real estate. It’s this simple: if you really get down to the nuts and bolts of what we do, we communicate. We aren’t the parties to a transaction. We aren’t attorneys or title experts. We aren’t lenders or mortgage experts. We communicate. From discovery to service to follow-up, we communicate. We discover needs and wants, we set expectations, we relay information and documentation, we problem solve, and we close. All of that, again, at the base level, is communication.

Selling Yourself

What is brand building? What is advertising? If you can’t guess by now, it’s communication, it’s story-telling. How you communicate your value to your audience is the essential part of creating brand recognition. Creating a solid call-to-action is an essential part of lead generation and capture. Taking those leads from interest to client is a direct result of your ability to tell your story and show interest in their story.

How can you become the first thing people think of when they think of real estate? Continuous brand building and consistent messaging are key to brand awareness with your potential clients. Whether you choose to be topical, clever, or resourceful in your communication to prospective clients, your delivery of the message over time is the key to your success. Being able to do it without being annoying is also pretty important.

Servicing the Client

From the time the prospective customer becomes a client to the time you close the transaction, your communication revolves around the service you provide. Beginning with the discovery phase, you have to be able to communicate with your clients to be able to best serve their needs and wants. Once you’ve done that, and found them either the home they want to buy or an offer suitable for acceptance, your communication expertise in negotiation becomes key. After that, you become a conduit for communication between all of the involved vendors, agents, title people, lenders, and, of course, parties to the transaction. Since we have beaten the expectation setting part of this like a dead horse on this blog, I will forgo it for now, but it is vital. Holding your client’s hands through the process with clear communication is key to creating a smooth transaction. Creating a smooth transaction is key to creating a happy client. Creating happy clients is key to building your referral base.

Building Your Referral Base

Do you have a plan to create a referral engine? When you’re with a prospective client, and then a client, and then a past client, how do you approach the topic of getting referrals? When do you start? If you don’t have that plan in place, I would submit to you that your business is not working for you. That doesn’t mean that your business isn’t working. It just isn’t working for you.

A plan to build a consistent stream of revenue from your current and past clients is pivotal. It should start the first time you meet a prospective client. It should continue throughout the sale/purchase. And, here’s the important part, it should never stop. Ever. The great thing about this plan is that a great deal of it can be achieved automatically through a CRM. You have to have the plan though.

Protecting Yourself and Your Clients

It pains me to say this, but we live in a world where everyone wants to sue everyone when they don’t get their way. In case you were wondering, you are one of the everyone. In this world we live in, we communicate in an ever-increasing number of ways. While I am a huge fan of face-to-face and telephone communication, it should be noted, for your protection and the protection of your clients, that everything should be followed-up in writing. Keep texts and emails. Store whatever other medium you might use to communicate, but make sure that verbal conversations are then put into writing to ensure that everyone is on the same page.

I’ll give you an example. In our new agent training classes we have an exercise we do. The new agents pair up and sit back to back. One agent is given a simple drawing like a house or a bird or a fish. Without telling his/her partner what the drawing is, they have to describe how to draw it. The results are often comical in a classroom setting, but are a perfect example of how easily verbal miscommunication can occur. Follow it up in writing to make sure that your house or bird or fish matches their house or bird or fish.

Going back to the original point, understanding that your primary role as an agent, as a business owner, is communication will help drive your processes and systems. Being an expert communicator will make the difference in your level of success. Even if it is not your strongest natural strength, it is one that can be rather easily developed. Whether you choose to join an organization like Toastmasters or just develop and practice scripts, working on your communication plan is something that should be done daily.

Bumps in the Road

March 2, 2016 By Chance Leave a Comment

In the course of a “normal” real estate transaction there are more ways for something to go wrong than the general public can imagine. It’s one of the many reasons why the general public doesn’t find value in the work a good Realtor does on their behalf. It’s also not the stuff they show on HGTV. The potential bumps in the road are numerous. The good news, however, is that, if handled correctly, these bumps in the road can be handled. Most aren’t fatal to the transaction. So, where’s the “but”? The “but” is whether or not you handle them like a butt or like a professional.

Through properly setting expectations with a client, proper presentation of the problem to the client, and cooperation with your fellow professionals, most bumps in the road in a transaction can be overcome.

Now, that’s not to say that there aren’t problems that can’t be overcome. There are, and if you haven’t experienced it yet, you will. That is, unfortunately, a part of the business and something that has to be dealt with from time to time.

Setting Expectations

In a previous post, we talked about setting expectations at length. So, I am not going to rewrite that post for the sake of this one. The bottom line is this: people don’t like surprises, especially in what can already be a stressful situation. So, don’t let it be a surprise. Setting expectations from the beginning and reiterating those expectations throughout the process will keep your client both prepared for these situations and aware that you know about them and are working on their behalf. Building value in yourself is the bonus.

Proper Presentation

The hidden beauty of setting expectations is that it allows you to present a problem as it arises in a way that doesn’t come as a surprise to the client. How you present a problem to your client, either buyer or seller, is key. If you freak out, they’ll freak out. If you come in laying blame, they will too, and most likely on you. If you come in bad-mouthing the other agent or other party to the transaction, they will feel like you are not in control.

The correct way to present a problem is to, first, go back to the expectation you already set. For example, “Remember, Mr. and Mrs. Seller when we talked about (fill in the blank)? Well, here is what’s going on.” Second, you review what you have already done or are doing to resolve the problem. This, again, builds value in you and what you do. Finally, you leave them with the plan and what could or could not happen in the end. Set a time to follow-up and be very communicative throughout the process. How you present the problem to the client will directly influence not only the way they react to the problem, but how they deal with the problem as you work through it.

Cooperation

Yes, I know, it is hard to be as good as you are. I know that there are very few agents capable of the level of awesomeness you bring to the table daily. I completely understand. However, from time to time you are going to have to entertain these other agents in an effort to serve your clients and make the money you’ve earned. We’ve also talked about cooperating agents in other posts before so I won’t get too deep into it.

Being able to creatively solve problems with the other agent, lender, and/or title company is how you will successfully navigate the treacherous path that pops up when there are difficulties in a transaction. The ability to bring all parties and vendors together to create win-win situations is how you show your true professionalism in times of need. That’s what makes you awesome, not only to your client, but to your fellow professionals as well.

Anyone can navigate their way through a simple real estate transaction. Anyone can also screw up a somewhat difficult transaction. Don’t be anyone. Be better than that. Show your value to your clients. Be the agent that other agents want to be like when they grow up. Having processes and systems in place in your business to deal with difficult situations, unforeseen problems, and less than stellar vendors, agents, and parties on the other side of the transaction is paramount to your success. That’s how you differentiate yourself and become an all-star.

The Top 5 Mistakes Rookie Agents Make

February 11, 2016 By Chance Leave a Comment

To start off, this is just another in a long list of posts that are related to “Your First Year in Real Estate”. It certainly won’t be the last, and probably won’t be the last on this site. Also, if you can keep the number of “rookie mistakes” you make to five, congratulations. You win Rookie of the Year. Hopefully this will help you avoid some mistakes that others out there have experienced and that I see on a pretty regular basis.

To preface the meat of this post, I have to say a few things about this list. First, none of these mistakes are fatal. You can make them and still turn out as a pretty good agent. Avoiding them will just help speed things along on the road to success for you. Second, this is not a 100% complete list. It’s just a list I made based on personal experience and coaching real estate sales people for a decade now, and some input from a friend who coaches agents and is pretty darn good at it. There are other mistakes you can, and most likely will, make. Remember, and not to sound cliché, it’s a journey. Learn from the mistakes and move on. Finally, if you read this list and realize that you’ve made one of these mistakes, that’s ok. Don’t worry. It can be fixed. Nothing in this crazy real estate world is that permanent, especially in your first year or two. Now, let’s get going…

1. Not Branding Yourself

I know, I know. You just took your exam and got sponsored and you think that your Broker/Brokerage/Parent Company/Coach/Kool-Aid Deliverer is the greatest thing since sliced bread. It’s an exciting time. It really is. I’m not just being a smart-ass to make a point. I’ve been there.

There is a little secret that I would like to tell you, though. You’ll probably change brokerages at some point in your career (This is not true of any of my agents that happen to be reading this. Y’all just skip this part). It may seem unthinkable, but the number of agents that have stayed at the same brokerage for an entire career is extremely small. So, brand yourself before you brand your Broker. Get your own domain name and your own email address associated with that domain: yourfirstname@yourname.com. Remember, according to NAR stats, only 3% of people care who you work for. This is a people business. They are buying you, not your Broker. Build your brand, not your Broker’s.

2. You Don’t Focus on Learning

Listen, your education didn’t end when you took that exam. In fact, I can tell you without hesitation that your education didn’t really begin until you took that exam. Most state regulated courses leading up to the exam are a joke and have no practical application in the real world. If you aren’t enrolled in classes (hopefully with your Broker), a mentorship, coaching or something like that a) you chose the wrong Broker, and b) you need to figure that out quickly. Also, start reading, listening to and watching podcasts, surf the web for coaching videos, etc. Follow smart people online, sign-up for webinars, shadow experienced agents. In other words, make learning a top priority in your business. When you aren’t doing something to make you money, you should be learning something that will.

3. Not Putting Systems and Processes in Place

It may not seem like it right now, but, at some point, time becomes your greatest asset and your biggest limitation. There will come a time when you will be so busy that the idea of stopping for a day or two to add systems and processes into your business will seem crazy. The problem is that you will have to do just that or risk stagnation. So, a real simple solution is to put them in place from day one. They don’t have to be perfect, but they do need to be there. You can adjust as you need to. Marketing, customer service, follow-up, transaction management, and database management are just a few areas to focus on. Without scalable systems and processes in place early in your career, your business will suffer later down the road.

NOTE: Don’t spend all of your time doing this. An hour a day or so will be just fine. This isn’t busy work so you can avoid doing real work. You don’t want six months to pass and all you’ve done is organize your contacts.

4. Not Using a CRM Software

We’ve talked about this before, but I just can’t emphasize the importance. Organizing your database, creating perpetual follow-up protocol, and automating as much of it as you can is pivotal to your success, especially at a time when you are initially building your brand awareness. That’s it. There’s nothing else to say. Find one and use it. Remember, the right CRM is the one you actually use. Play with a bunch and find the one that works best for you. Use a CRM or be SOL.

5. Focusing on the Outcome, Not the Input

If nobody told you in your interviews with a broker, let me be the first to break this news to you: success in real estate is not easy. This isn’t HGTV. You don’t just get a license and then the producers show up outside your house and start filming. Real estate is a grind. It’s a game for hustlers. The ones that are willing to do the work, and do it consistently, every f’ing day, are the ones that are making the money here. If that isn’t for you, take your ass back to what you were doing last week. If you’re willing to do the work, focus on the work. Keep your nose to the grindstone and the results will come. They will. I promise. Don’t get discouraged. Don’t get mad (unless that kind of thing motivates you) when a friend uses another agent. Suck it up, put on your big boy/girl panties and move on to the next task. Focus on what you can control. The results will follow with hard work, consistency, and patience.

There you have it. Now, take your ass back to work.

Your Competition Doesn’t Matter

January 28, 2016 By Chance Leave a Comment

It’s been a while. I took a little bit of an extended holiday break on the blog, but am back and have some big plans for this site for the new year. Look for some big changes in the next few months.

In the meantime, let’s talk about competition. Something I hear on a pretty regular basis as I help our agents put their marketing and business plans in place each year is concern or questions about what the competition is doing. It usually looks like, “(Insert agent name here) had a kick-ass year last year. What are they doing that I’m not?” Or maybe, “What if I did what (insert agent name here) is doing? Would that work for me?” Maybe. Maybe not. The real question is:

Why does what your competition is doing matter so much to you?

The simple answer is that you want their success. The truth behind that is that your competition didn’t just become successful because of this or that particular marketing tactic. The truth is that the success they are experiencing is more than likely a result of years of hard work and marketing. Top producers in a market in a market are top producers for a reason. They have put processes and systems in place, work tirelessly, market, prospect, service their clients, review, audit, rinse and repeat. It’s not any one thing that they did that automatically made them a success. It’s a combination of hard work, tenacity, and patience.

So, back to what the competition is doing. Should you replicate it? Maybe. If you’ve read this blog before, you know I’m a fan of stealing and making your own. But, that’s the key. You have to make it your own. If you’re just a carbon copy of someone else, how are you going to make that sale to someone? In the last post, we talked about being yourself and you need to be yourself in everything. Let your personality show in your marketing efforts too. That’s a big part of building your personal brand, in my opinion. It’s a bigger part of running the kind of business you want to run. A business that you control and that makes you happy.

On the other hand, if it’s something that puts you so far out of your comfort zone that you aren’t likely to be successful or follow it through to the end, why waste your time, money and effort? Wouldn’t you be better off doing something with a far greater chance of success? I think so. So, if you are copying the competition just because you either feel like you have to or because you think that they’ve raised the bar for everyone, think again. A well-planned, personal, creative marketing effort of your own can easily counter anything your competition does.

In the end, to make the decision on whether or not to use something a competitor is doing in your business, you have to look at how well it fits into your overall business plan. Instead of thinking of it as replicating the competition, imagine for a minute that what you’re going to do is a new piece of software or a new service you are adding to your business. Would you still do it? Is it a fit for what you’re trying to accomplish? Will it help you reach your goals? If the answer is no, the answer is no. If it is maybe or yes, then pull the thread on it the same way you would with a new software or service. Is there a realistic ROI? Is it worth the time and effort?

More importantly, don’t spend too much time worrying about the top producers and what they’re doing. Rest assured, they aren’t doing the same in return. They’re out there working their plan and growing their business their way. You should do the same. What I’ve found over the years is that your biggest competition is most likely looking back at you in the mirror. Go to bed every night knowing that you did your best and you won’t need to worry about the competition. They’ll start worrying about you soon.

Playing to Your Strengths

December 3, 2015 By Chance Leave a Comment

So, there are a million dumb clichés about getting outside some stupid metaphorical box and how growth only exists when you’re out of your comfort zone and blah, blah, blah. Clichés are clichés because they are generally true, right? But, with all of these business related clichés there has to be some underlying truths before you can do any of this. You can’t just decide one day that you’re going to be a race car driver and go nail down a few million dollar sponsors, slap some stickers on your Altima, and roll into Daytona.

For the record, I would like to invent a time machine, go back, find the a-hole that came up with “outside the box”, cram him/her into a box, and ship them to Siberia, during winter, covered in whatever polar bears like to eat.

Now, I have no problem with stepping outside of your comfort zone. I do have a problem with the idea that you aren’t “growing” or “developing” unless you’re outside your comfort zone. I take issue with the thought that you have to be outside some damn box to become better. The problem is that so much of real estate training that is out there tries to stick a round peg (you) into whatever hole makes the trainer or broker money the fastest. What happens after that is anyone’s guess.

I can tell you this, without question, without reservation: if I had gone through most real estate training programs when I first started, I would almost certainly not be in real estate today. I don’t for one second think that I am alone in that. Here’s a little confession. I suck on the phone. I’m terrible. If I had gone through one of the myriad new agent bootcamps that preach make a 100 calls a week or call expireds and FSBOs until your ear falls off, I would have failed.

Setting yourself up for failure by doing something new or that you suck at isn’t what I consider growth.

I’m a believer that success breeds success and that, especially when you are brand new or you are trying something brand new, you need a few small wins before you jump into it full force. So, two things real quick on this.

Being Self-Aware is Key

First of all, to know what is inside the box and what is outside the box you have to know what you’re good at and what you aren’t good at. For a lot of people, really doing a thorough self-examination is harder than it sounds. It can be really tough to look inside and say, man, I am really terrible at (fill in the blank). Unfortunately for those people, to really be able to take what you’re good at and make it the catalyst for your awesomeness you have to be very self-aware. You have to know your strengths and be able to play to them. Likewise, you have to know your weaknesses so you can marginalize them and focus your efforts on using your strengths to get those first few wins.

Play to Your Strengths

Once you’ve done that, you’ve taken that inventory of your strengths and weaknesses, then you can really look at how you’re going to use those strengths to build your business. The reason that playing to your strengths is so important is that you will see what is working because you know what to look for, you’ll keep at it because you like doing what you’re doing, and you’re going to see those little wins happening. As you see those little wins happening, they’re going to drive you towards that next little win. Before you know it, those wins will snowball into something much larger.

Again, I’m not saying that you should never step out of your comfort zone. At some point you will have to. When you do, being self-aware about your strengths and weaknesses can help you formulate a plan that will lead to success. That’s when real, actual progress happens. You are not a round peg. There is no silver bullet to success. You have to formulate plans based on your strengths that work for you and then go execute. Then, once that foundation is built, go outside the stupid box.

Start – Stop – Continue

September 16, 2015 By Chance Leave a Comment

As a business owner, which if you’re a Realtor, you are one, it is important to be ever-mindful of your value proposition to your clients. Is what you are delivering hitting the mark or not? Do your clients even recognize it as a value? Do they wish that instead of doing one thing you were, in fact, doing something entirely different?

If you don’t know what your clientele is looking for, how can you provide the level of service that will compel them to refer you to others?

I’ve said it before on this site, and will likely say it again, but there is no shame in stealing other people’s good ideas. Scott Stratten is one of my favorite people on the interwebs and my goal in life is pretty much to never make it onto his Facebook feed. I love his books. I love his no bullshit way of putting it out there for people to understand the difference between doing it right and doing it very, very wrong. This method is straight out of his book, so all of the credit goes to him.

The method is pretty simple and goes something like this:

Start

What does your client wish you had done during the transaction or after the fact that would have brought them value? This, unfortunately, is your list of either failures or areas of improvement. This is where you have to get better in order to win. Don’t take it personally. Take it to heart and make changes that, in the end, create a greater experience for your clients.

Stop

On the flip side, what are you doing currently that your client found no value in? What should you stop doing because it is either a waste of time, effort, money, or all of the above. For me, this was the hardest pill to swallow as I started to see trends emerge. Things that I had really thought were great for my clients turned out to not be worth it at all. This section, for me, was a bigger shot to the ego than the Start section.

Continue

Finally, what did you do that your client felt brought value to the transaction and relationship? This helps you consistently deliver a level of service that your clients actually want. You need to know not only what you should start or stop doing, but what really made your clients happy during the transaction.

That’s it. A very easy, three question survey that can give you more insight into your business than any lengthy, in-depth research project. Give it to each client at closing with a self-addressed, stamped envelope with the expectation of candor and the promise that you won’t be upset by what they say. I think you will find it a useful tool in analyzing and improving your customer experience.

One last note about this and any other kind of evaluation tool you choose for your business. Just because you got one bad review or one piece of unexpected feedback, don’t run out and make wholesale changes. Look for trends over time and adjust your approach accordingly. Remember, feedback is one person’s opinion of a moment. Don’t get down or angry because you don’t like what a client says. Just file it away and move forward using it as constructive criticism. Your business will benefit immensely from it.