THE Key to long-term success in the real estate business is to adopt the ABC mindset (Always Be Connecting).
Making connections with people then building and maintaining relationships is the most basic, critical element of success. It is imperative you develop and follow a success plan to attract new, repeat or referral business. Build your plan around annual, monthly, weekly and daily activities. Demand of yourself a weekly minimum number of connections to make.
Keep it simple! Here are some examples to affirm as part of your success action plan:
- “I make one qualified appointment each working day.”
- “I add 5 new connections to my database per week.”
Now, take action!
Success Action Plan (Tip: Use the template from your Business Planning downloads)
Use your business plan to create your daily, weekly, monthly ACTION PLAN. These action plans will outline the income-producing activities, and other tasks you are committed to, in order to achieve your desired outcomes. Review and stick to your Action Plan DAILY! Decide on the 3-5 activities you are committed to doing consistently.
- Write your Action Plan on index cards and keep one with you
- Put it on your mobile device in an app that you use frequently
- Put one in front of your day planner
- Post it in your workspace
- Tape it to your bathroom mirror and review it daily
- Review and record your results daily also
Income producing activities include:
- Make ______ contacts daily
- Send ______ personal notes weekly
- Add ______ people to your database weekly or monthly
- Contact ______ FSBOs weekly
- Contact ______ Expireds weekly
- Hold ______ effective open houses weekly/monthly
- Mail or email to your SOI/Past clients valuable market information monthly
- Mail or email to your designated farm of ______ properties monthly
- Door knock/ door drop ______ houses monthly
- Take _____ past client to lunch monthly
- Network with _____ business to business referrals monthly
- Hand out 5-10 business cards, 5 days/week and actively ask for business or for permission to add them to your database
If you are new or newer to the real estate business, 90-95% of your time should be spent asking for business. Do not let pending contracts or any other activity take you out of the business of attracting potential clients every day. Prioritize your prospects, track your results and maintain a simple follow up plan. No other task in the real estate business can be performed until you have a person who is ready, willing, and able to buy or sell.
Regardless of what attraction and connection method you use, the goal is the same! The main objective is to establish rapport, put the client at ease, minimize their perception of the threat you represent and always direct your dialogue towards their needs. Your goal is to turn a prospective lead into an appointment with a motivated buyer or seller.
When qualifying a lead you must ask a lot of questions to help you determine their needs and whether pursuing them is the best use of your time. Remember: Questions Attract…Statements Repel. Listen carefully to the answers, take notes and show concern and a willingness to help solve any problems or needs that you uncover. The answers you receive are not only the client’s needs, but also tell you what methods to use to meet those needs. These answers will also help you personalize your proposal to secure the client.
You may get objections. Do not be afraid or get defeated. Objections are a good thing. Objections are simply another form of a question or concern or an indication that you have not totally gained their total rapport. It can simply mean a prospect has not made a decision. Always remember, for every “no” you are one step closer to a “yes”. When you have determined that the client is motivated to make a move in the foreseeable future, close them for the appointment, sale or next appropriate step..