Seven Strategies to Thrive in ANY Real Estate Market

 

There are opportunities in any real estate market for those who are willing to make the necessary adjustments in your action plan, skillset, and mindset!

The following seven strategies will help you THRIVE in the Real Estate Business. These strategies are timeless and easily adapted for any business owner in ANY market scenario.

1.  Understand that You ARE the Creator of your Reality
Take personal responsibility for where you are at this exact moment. All of your thoughts and actions have led you to this exact place in time. If you are not entirely pleased with your results, then change your thoughts and take action toward what you want to create.   Check-in with yourself often. Are your thoughts positive or negative – towards or away from what you desire? Do you find yourself slipping into the negative muck and mire – from the media or the glass is half-empty people around you? Be deliberate and intentional in your thoughts and actions. Focus on what you want; not on what you don’t want.

Recommended reading:

  • Think And Grow Rich by Napoleon Hill
  • The Four Agreements by Don Miguel Ruiz
  • The Power of Now by Eckhart Tolle
  • Grit: The Power of Passion and Perseverance by Angela Duckworth

2.  Adopt a daily practice to start your day in a positive mindset

How you start your day truly impacts how the rest of the day plays out!

Adopt a daily ritual, a morning routine, to start your day in a positive mindset and with focused intention.  Show up every day: Mentally, Physically, Emotionally and Spiritually.  Now more than ever it’s important to get up, do your morning mindset ritual, get dressed for success and get to work!

Some suggestions:

  • Morning meditation or prayer
  • Read a few pages from a book that inspires you
  • Daily gratitude – journal what you are grateful for each morning
  • Exercise, stretch, take a walk
  • Review your goals and say your affirmations
  • Eat a healthy breakfast
  • Review your day’s tasks and schedule

Resources:

3.  Be Open to Change – Adapt to the Market

Educate yourself about the market, understand the trends and statistics. Know the inventory.  Identify other niche target markets for your area and develop a plan to generate business from those sources that work best for you. Identify one or two areas to improve personally and/or professionally.

Continuous learning is the minimum requirement in any career field:

  • Read something to enhance your personal or professional development a minimum of 1 hour/day
  • Take specific courses, seminars, or workshops based on areas you want to improve or master
  • Listen to audio programs or podcasts in your car or when walking or working out

Your Success Action Plan http://wbnlpodcast.com/episode92/

4.  Polish your sales skills

  • Improve and upgrade your qualifying, presentation and closing skills.
  • Learn how to better present the history and current real estate market story to your buyers and sellers.
  • Update your buyer and listing presentations with supporting graphs, statistics, etc.
  • Take sale-able, properly priced listings!
  • Use all of your available company marketing and advertising tools.
  • Practice, Practice, Practice your closing and qualifying skills.

5.  Get back to the basics


Actually…Never get away from the basics – they always work – in any market!

  • Are you time-blocking 1-2 hours daily for lead generation, follow-up, and conversion?
  • Do you have a solid Sphere of Influence/Past Client Referral system in place?
  • Do you have a CRM that you like and are you using effectively as the foundation of your business?
  • How are you attracting new business daily?
  • Have you selected 3 target markets to concentrate on this year?
  • Do you have a powerful Listing and Marketing Proposal?
  • Do you conduct a formal buyer consultation and qualification?
  • Take classes or training in areas that you want to refine or improve.

 

6.  Implement effective real estate business systems

Are you working on your business while also working in it? Most real estate agents are NOT running their business as a true business. They are simply the “technician” working with buyers and sellers toward a successful close of escrow and collecting a commission for services rendered.

Create and implement key real estate business systems that work for you as an individual agent in these key areas of your business:

  • Real Estate Business Plan and Goal-Writing
  • Develop Your Unique Value (Selling) Proposition
  • Personal Promotion, Branding, and Marketing
  • Past Client/Sphere of Influence/Referral System
  • Listing System
  • Buyer/Escrow System
  • Farming System
  • Lead Generation and Follow-up System
  • Social Media Marketing
  • Business Financial Basics for the Real Estate Agent

Recommended reading: EMyth Revisited by Michael Gerber

 

7.  Create a success action plan and stick to it

Time block for best results. Know how many calls, face-to-face contacts, emails, mailers, contacts you must make before you call it a day. Challenge yourself with daily goals – don’t go home until you have at least one appointment for example.

Win the Day Formula

What are the two to three specific things you could on a daily basis that would really drive your business and life goals?

What are the one to three actions that have the highest return and the most valuable use of your time?

Do the most important things first in the morning, preferably without interruption, for 60 to 90 minutes, with a clear start and stop time. If possible, work in a private space during this period, or with sound-reducing earphones. Finally, resist every impulse to distraction, knowing that you have a designated stopping point. The more absorbed you can get, the more productive you’ll be. When you’re done, take at least a few minutes to reflect and refresh.

Some ideas to get you started:

  • Make “X” connections with people in my database
  • Send “X” personal notes
  • Add one new person to my database
  • Set one appointment daily
  • Make “X” calls, texts, emails to my niche or primary prospecting target
  • Hand out 5 business cards and ask for business, a referral or for permission to add them to my database

Read: Eat That Frog – Brian Tracy

Real Estate and Reality meet as co-hosts, Jan O’Brien and Matt Emerson bring you Tips, Tools, & Topics to supercharge your business. They’ll share their insights along with interviews with industry thought leaders. The ethos of WBNL Coaching is helping you to align and connect so that you can prosper. The Wandering Zen segment will offer you some inspiration so that you can disconnect and recharge.

Visit WBNL Podcast for all of our Episodes, Show Notes, Videos and Links to Resources

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