Five Ways To Kill Your Business

By
Real Estate Services with Real Estate Pipeline, Inc.

It amazes me on a daily basis how many agents that I deal with actually set themselves up for failure by making simple, yet deadly, mistakes in their business.  Some of these mistakes seem to be so simple to overcome.  Yet, time and time again, they repeat the same thing expecting a different result.  That is the definition of insanity. 

So, in the hopes that I can in some small way help YOU avoid making these mistakes, I wanted to summarize an article I found in BrokerAgentPro that lists 5 of the things agents do that hinder their own efforts...and ways to avoid getting caught in these commission killing traps.

Getting ‘Busy Work' confused with actual ‘Work' - Many agents across the country suffer from not having a consistent game plan for their daily activities.  There are several things that you should do daily.  These include: Lead generation; Contacting prospects that are potential clients; Work and sort out the motivations of existing clients; Negotiate contracts on pending deals; Present findings to your clients.  All 5 of those things MUST be done on a daily basis to maintain a consistent level of effort on all aspects of your business.  If you are not getting any one of these done, you are attempting to build a business on a weak foundation and you will fail. 

Not working a set schedule - Lack of motivation is the biggest cause of not working a set schedule.  "I don't feel like it today."  Guess what...no one *feels* like it.  But, they do it.  Successful agents work a set schedule every day whether they ‘feel like it' or not.  What do you do on days you don't feel like working?  See #1 above.

"It's a numbers game" - Well, sort of.  But, no, not really.  Yes, you need to track your numbers.  Yes, those numbers are important.  But, in no way will those numbers lead you to making any money!  This is a PEOPLE game!  If you are not out helping people with or talking to people about real estate, you are doomed to fail.  Focus on what you have to offer - your talents and abilities to assist people in buying or selling a house. 

Lacking multiple lead streams - That's right.  If you do not have multiple streams of leads, you will fail.  If your only source of leads is making cold calls, asking for referrals from clients, calling expired listings, etc...You are limiting your ability to get new clients.  If you take a day off, you don't make ANY progress.  None.  What if you lose your phone for a day?  What if you lose your voice for a day?  No progress.  So, having several good lead generation sources is a must in order to keep bringing in new potential clients.  Just remember, not every lead will close.  But, every lead needs worked.  That's what you do!

"Its all about the Benjamins, baby!" - This philosophy will ultimately be your demise in real estate.  You should never put earning a commission above your ability to be of service to your client.  If you are not out there to help your clients, you will fail.  If you don't know how to help your clients, LEARN!  The ‘rules' have changed.  Make an effort to adapt to those changes and *help* your clients.  The money will follow. 

 

If you would like more information on increasing your inbound referrals, please contact Clint Miller of www.recr.com.  You can call at 800-977-7058 or follow me on Twitter at www.twitter.com/recr.

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Re-Bloggged 5 times:

Re-Blogged By Re-Blogged At
  1. Donald Bradbury 11/14/2008 12:03 PM
  2. Mike Hughes 11/15/2008 07:03 AM
  3. David Matney 11/16/2008 09:33 PM
  4. A. Keith Hebert 01/07/2009 08:59 PM
  5. Daniel H. Fisher 08/01/2011 11:13 AM
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Rainmaker
188,973
Clint Miller
Real Estate Pipeline, Inc.

Hi Debe!  Thanks!  Very much...Im glad to hear that you are having a good year...and working as SMART as you are!  Altought....smarts only go so far..so, working hard helps too!  :-)

November 18, 2008 07:36 PM
Rainmaker
214,815
Patricia Beck
Colorado Springs Realty
RE/MAX Properties, Inc., GRI, CDPE

Great tips for agents, it can be easy to get off track.  I like what you said about this business being a people game not a numbers game!

November 19, 2008 09:05 AM
Rainmaker
188,973
Clint Miller
Real Estate Pipeline, Inc.

Patricia -- Yes, it can.  Unfortunately, even when people think they are on track, they arent.  Thanks!!

November 19, 2008 09:17 AM
Rainer
73,288
Bruce & Mary Smith
REALTORS, Savannah Lakes Village McCormick SC
Savannah Lakes Homes

I think some agents 'kill' other agents with negativity - talk, talk, talk.  It begins small - with a comment - and grows over the coffee pot, through lunch to the end of the 'work' day, a day with little work.  Also, we see agents who are discouraged because clients are not walking in their door like they did last year!  I say "Get a life!"  Good post!

November 21, 2008 09:38 PM
Rainmaker
188,973
Clint Miller
Real Estate Pipeline, Inc.

Bruce and Mary -- I completely agree! And, I dont think I can say anything more than you just did.

November 22, 2008 09:15 PM
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Rainmaker
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Clint Miller

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