July 19, 2011

Could You Do More or Should You Do Less?

You've probably had this reaction before, right?

You are out at a upscale restaurant and you order something that sounds delicious on the menu. You're enjoying a glass of wine while you wait for your entree to arrive. Perhaps a bowl of soup or a house salad and a nosh on some bread whets your appetite until the meal is delivered to your table. 
Photo courtesy of Rioncm on Flickr

The waitress arrives and puts down the item you ordered and you look at the nicely plated entree and think to yourself, "That's it?"

The serving appears small and the entire plate isn't even filled with meat or fish or pork or chicken and there certainly can't be enough potatoes or vegetables to fill you up. Not when you're used to everything being "Biggie-sized" or "extra large," right?

But as you take your first bite the delicious flavors simply ooze into your mouth. You savor the perfect blend of taste and aroma. The side items compliment the main dish perfectly and your enjoyment of the dinner is ideal. In fact, when the waiter returns at the end of the meal to offer desserts, you have to sadly pass because you're too full.

More Isn't Always Better

It's human nature to think that if it's more expensive, it must be better. If someone will give you twenty of something, that must be better than ten of the same thing, right? Shouldn't a headliner's show be better than the warm up act? Could a underdog really ever beat a favorite? "Do you believe in miracles?"

In our world of real estate, sometimes doing more of something isn't necessarily the answer. Doing less but doing it better might be exactly what is needed. Calling prospects for three hours might not be as beneficial as scheduling three face to face visits with past clients who have referred you business in the past. Sending 1000 postcards to a subdivision once a quarter might not prove as effective as sending 200 cards to a smaller section of the same neighborhood every 18 days.

Repetition is certainly valuable when learning any new skill but there must be some focused intent behind it. Are you repeating something so it can be memorized for a one-time event or so it can become internalized and called upon each and every time you face a certain situation. There is a big difference between repetition and redundancy.

If there is one thing that everyone shares, regardless of their status in life, their role in the work force or the balance in their bank account, it is time. No one gets more than anyone and no one gets less. Taking every task and allotting it the correct amount of time is so critical to your success.

Utilizing the MLS to search for houses is a requirement for most Realtors but spending 3 hours "surfing" the MLS to set up five showings isn't a better use of time. Holding a 90 minute sales meeting for the office because "that's the way we have always done it" might not be as powerful as scheduling 10 minute individual coaching sessions with the 20% of the agents who bring 80% of the business to the office. Sitting around in the office talking about last night's American Idol results might be fun but it's not going to deliver the results that knocking on two For Sale By Owner's doors could bring in the same thirty minutes.

Don't get fooled into thinking that bigger, longer, more expensive or louder is better. If the smaller, shorter, cheaper or quieter way doesn't work, you could always add some back...or perhaps, maybe even take more away?

"Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away."
Antoine de Saint-Exupery 



Until next time, keep building relationships, solving problems and having fun.

  

July 17, 2011

I Can See Clearly Now?

Monday Morning Match is a quick post - maybe a quote, inspirational story or idea - intended to spark some motivation inside each of you so your week gets off to a fantastic start on Monday morning.

As I just returned from vacation, I'm going to keep today's post simple. I received a wonderful email while I was away from a good friend who also happens to be an excellent Realtor and branch manager, Kate Koplinka. Kate is with Coldwell Banker M and D Good Life in Long Island, New York. We met several years ago at a Coldwell Banker convention in San Antonio and have stayed in touch since then via social media as well as in person at some incredible company events. She's one of those people in our industry who just "gets it" and you want to see her and others like her succeed.

The Power of Words

I use a lot of videos in my presentations if I feel they have a pertinent message or emphasize a point I am trying to convey. I know Kate (along with other managers who read this blog) use some of these videos in branch meetings, either for humor or inspiration, depending on what might be needed.

I always appreciate when people share powerful videos with me as well because you just never know when one will strike you in a powerful way. The video below that Kate sent me last week is a perfect example of one of those videos. It comes from the folks at PurpleFeather, a team of freelance copyright specialists who provide online contents in the UK.

Watch this and tell me it doesn't help you "see" what's ahead of you this week, just a little bit clearer. If you can't see a video below, click here




The good news? As people of integrity, determination and a genuine work ethic, Kate and many of  you, my loyal readers of The Realtor's Toolbox will succeed.

Thanks again for sharing the video. I hope if you see something that would be a good fit for The Realtor'sToolbox, I invite you to share it with me, either here or on any of the social networks where we might be connected.

Until next time, spend your week building relationships, solving problems and having fun.

July 10, 2011

What Realtors Can Learn from the First Day of Vacation

Monday Morning Match is a quick post - maybe a quote, inspirational story or idea - intended to spark some motivation inside each of you so your week gets off to a fantastic start on Monday morning.

 After a long day of travel from Columbus to Hilton Head Island, South Carolina, I realized that Realtors have a lot in common with the first day of a family vacation. Whether you're planning to get away for a week or just ready to get back to work and make something happen this week, see if you do these things.

Start with the end in mind - Steven Covey mentioned this one in his Seven Habits of Highly Effective People. Do you know where you want to end up before you even start?

Get an early start - Avoid congestion, traffic and other distractions by getting started before the sun rises. As Zig Ziglar once said, "There are no traffic jams on the extra mile."

Bring everything you may need - A successful agent arrives at his or her listing appointment assuming the Sellers will be ready to say "yes" so make sure you have your paperwork, lock box, digital camera, for sale sign, video camera and anything else to start immediately. It's always more expensive and sometimes time consuming to get some of the basic items once you arrive.

Stay focused - It's easy to take your eyes off the road so do whatever you need to do to keep on the "straight and narrow."

Build breaks into your schedule - It's so important to stay focused and taking regular breaks is one of the best ways to do so. Whether it's a rest area for a quick stretch or a gas & guzzle pit stop for some "fuel," breaking up the long days is always helpful.

Stay nourished - When Realtors get into a rhythm, it might be difficult to step away and grab a bite to eat but in order to keep your body and mind fresh, it's necessary to eat healthy. Perhaps stash some apples or bananas in your office/car and drink plenty of water.

Be prepared to "drive defensively" - In a competitive world like real estate, you might think everyone is looking out for themselves...and you might not be too far off from the truth. Always remind yourself who you're representing and do the right thing. You can't control what happens to you but you can control how you react to what happens to you.

Don't Text & Drive - It's been proven in numerous studies that the brain in incapable of multi-tasking. Instead, work on one thing at a time based on your prioritized "to do list." Remember, the easiest way to prioritize in real estate is to look at two tasks and ask yourself, "which one of these two things gets me closer to a closing?" The answer becomes your priority.

Unpack before you relax - After a long day on the road, most people would like to jump in the pool or hit the hammock with a cold beverage first. Instead, get the "travel" of the day behind you completely by unpacking (literally or figuratively) before you move on. Closing out your professional day before you head home to your personal lives will help you separate the two and create more balance in your life.

Whether you're traveling this summer or just working hard trying to achieve the goals you set earlier this year, if you keep building relationships, solving problems and having fun, there's a better chance you're going to enjoy your journey.

Safe travels.

July 6, 2011

Caution - Distractions Ahead

Welcome to the proverbial "Dog Days of Summer." We surpassed the halfway point of the year over the holiday weekend and I am sure that many of you thoroughly enjoyed your Fourth of July celebrations with friends and family. Heck, some of you might have even pulled a few deals together between the parades and fireworks.

Work Zone Ahead - Long Delays Possible

Now it's time to put up some orange barrels for the serious "work zone" we are approaching. We've entered the time of year when we might be tempted to take our foot off the gas and go into cruise control. It almost seems like we're in slowing traffic and we're all ready to start rubber-necking.

Here are just a few things that might be taking some of your attention away from your business plan:
  • The kids are home from school and they tell you every day how "bored" they are.
  • The kids are home from school and every day you have to transport them someplace - sporting events, play dates, summer camp, the movies, etc.
  • You have a vacation coming up and you've got to get ready for it.
  • You've got family coming to visit and you need to get the house in order.
  • The pile of mulch in your driveway isn't going to spread itself in your flower beds.
  • (insert your own "woe is me" story here)

Trust me, I get it.

On one hand, we say to ourselves, "Where has the first part of the year gone? It seems like it was just January." On the other hand, we try to justify that we'll be okay and can still hit our plans. We just have to get through the busy summer months and then we'll be able to re-focus. Those ready, willing and able clients will just magically appear at our doorstep like Ed McMahon with the oversized check.

Seriously answer this...When was the last time you looked at your business plan? Technically you should be exactly halfway to your goals you set last winter or at least on pace to be close to half way home. Are you?

Have you met with your manager, coach or business partner to determine what needs to happen in the next 30 days? 90 days? 6 months?

Is your "why" still as important today as it was when you first thought of it or are you allowing outside influences to turn it into a "why me?"

There Is Business Out There

I just did a quick check of our local MLS. As of today, there are currently 15,459 homes on the market for sale here in Central Ohio with an average listing price of $204,693. They've been on the market an average of 138 days.

Do you have some active listings that need some attention? Could you schedule a meeting with your Sellers to re-evaluate your current position in regards to competition? It might be the perfect time to ask the Sellers if their motivation is still the same as it was on the day you signed the listing agreement.

As of today, there have been 9,325 properties sold since January 1st. Those sold properties were on the market for an average of 102 days and sold for an average sold price of $153,296. 

Are your Sellers aware of the list to sale price ratio that is realistic in your current market so when an offer does come in, they aren't shocked? Is your low end inventory level rising or falling? If your listing has been on the market longer than the average for the solds, what is the market telling you?

Fifty a Day?

A quick test drive of the ol' calculator tells me that with 9,325 closed properties since January 1st, there have been approximately 50 sales each day. And because there are two sides to every sale, that means there have been 18,650 clients sitting at a closing table at some point this year.

Were they working with you? I might suggest you do the same exercise in your local area right now. You might just come up with some great insights, talking points or inspiration for a detour route around the distractions.

[Managers - this is a great exercise to use at your next sales meeting. Do the research and come up with your local market numbers. Ask the questions in the form of a quiz and reward the agent who is the closest to knowing the current market. You can then discuss the importance of knowing your market and the competence and confidence it will bring.]

The question is are you going to quit rubber-necking, put your foot on the gas pedal and accelerate your business into the fast lane? Start building relationships today. Find ways to solve problems today. It's important that you have fun today.

Once you get past this bottle neck, it's nothing but open highway up ahead. Turn up the radio and enjoy the ride.




(I suggest you type the words 'listings sold' into the search box that appears to the left of this text on the blog page. There are some relevant posts that might give you some more ideas of where you might find some additional business opportunities)

July 3, 2011

Friends, Fireworks and Freedom

Monday Morning Match is a quick post - maybe a quote, inspirational story or idea - intended to spark some motivation inside each of you so your week gets off to a fantastic start on Monday morning.

May your second half of 2011 be filled with spectacular explosions of success. Continue to focus on building relationships, solving problems and having fun and you'll hear people "ooh-ing" and "aaah - ing" at your tremendous service all the time.

Enjoy the day with friends, fireworks and freedom.

Happy Fourth of July to you and your family.

 
Photo courtesy of Greeblie on Flickr