“Stuff just got in the way.” How many times have you said that to yourself when you haven’t gotten done what you really need to?
Here’s a little secret. People don’t fail because of what they don’t know; people fail because they don’t do what they know they need to do. Lack of knowledge or a skill doesn’t make you fail, it allows you to learn and grow. But, lack of consistency in doing the things that need to be done to achieve success does, most certainly, lead to failure.
The first thing to realize is that you’re not just in real estate sales. Your main job is Lead Generation; looking for and finding qualified, motivated leads. You can’t sell homes you don’t have listed and you can’t work with buyers if you don’t have any.
Riding the Real Estate Roller Coaster
I don’t know about you, but roller coasters make me ill. Some people love them; not me.
The diagram below represents what’s known as the Real Estate Roller Coaster. It demonstrates what a typical REALTOR®’s income over a year can look like when prospecting is not a priority.
While riding roller coasters at an amusement park may be fun, riding this kind of roller coaster, living this kind of life, definitely isn’t. I know; I’ve been there.
There’s only one way to avoid riding the roller coaster, and that’s to maintain a consistent, active prospecting program and develop lots of new leads. It’s like drinking from a water bottle. Every time to take a sip, you deplete the amount of water in the bottle. If you don’t keep refilling the bottle, eventually you run out of water and you go thirsty. You need to constantly be refilling your bottle with new leads. So how do you refill the bottle?
In this post, I’m not going to go into the different prospecting techniques that can be used to generate leads. Everybody knows what they are and there really aren’t any new ones. There may be new and different ways to apply them, but they’re essentially the same as they have been since real estate began. Today I want to look at what it really takes to refill your leads bottle; getting yourself mentally prepared to do what it takes to succeed.
What’s in Your Attic?
To become successful at this, you need to understand and consistently focus on the reason you’re here. What’s the single most important motivating factor driving you to succeed? This is your Life Purpose and it defines your purpose for working. Everything you do must be focused on helping you achieve your Life Purpose. Lose sight of this and you’ll lose focus on what it is you need to do to reach your dreams.
The first step in massively succeeding is to understand that it’s OK to be average, if that’s what you want. Average allows you to work as hard as you feel and if you just don’t feel like it, that’s OK too. Average allows you to be satisfied with average work instead of exceptional work. Average says, “Don’t worry about getting that pre-listing package put together. Most people don’t have one and they still make money.” Average lets you be part of the 90 percent who are making a few deals a year, instead of the 10 percent who are doing massive numbers of deals. Average is acceptable; if that’s what you want to be.
But if it’s not, then ask yourself if you truly believe that you can:
- Succeed beyond your wildest dreams?
- Do way more business than you are now?
- Move from having a good life to having a great life?
- Be more than average?
Fact 1 – The Market doesn’t matter
No matter what the market is doing, success in real estate depends on doing what you need to do every single day. It’s very easy to blame the market for our failure. “It’s a seller’s market. I can’t find any listings because people are worried about where they’ll go when they sell,” or “It’s the winter market. No one wants to sell in the winter. They all want to wait until spring.” It may be more difficult to find buyers or sellers during certain times of the year, however, from December 2014 to February 2015, the Toronto Real Estate Board recorded a total of 24,547 new listings and 15,139 sales. And the Edmonton Real Estate Board recorded 5,651 listings with 2,367 sales. There are still people out there who want or need to sell or buy, so REALTORS® are still able to find properties to list and sell, even in the heart of winter. Your job, if you truly want to succeed, is to get out there and find them.
Fact 2 – Confront the Brutal Facts
The Brutal Fact is that you are where you are because you’ve done business the way you’ve done it – for good or bad. This is your Status Quo. In order to move toward achieving your goals, you have to be prepared, if needed, to abandon your Status Quo and do things differently. You need to ask yourself, “Is what I’m doing moving me forward at the pace I want, or holding me back?”
If the answer is that it’s not moving you in the direction or at the pace you want, you’re going to need to change the way you’re doing things. Ask yourself if you need to abandon your Status Quo.
Fact 3 – Get comfortable with being uncomfortable
Next, recognize that you will have to do things that make you uncomfortable. You’re going to have to do things you may never have done before and that can lead to a certain level of discomfort. It’s important, and necessary, to remember that discomfort is not a bad thing. It means you’re gaining experience and learning what works and how to fix what doesn’t.
When I first started skiing, I was scared of falling. I wanted to make sure I did everything carefully and correctly. I remember my instructor coming over one day and telling me to stop being so careful. He explained that I would never really get any better if I didn’t take chances, and that meant taking the risk of falling, a lot. Well, I started to take those chances and I fell, a lot. And I fell some more and some more, but I learned what did and didn’t work, eventually having the opportunity to do some minor racing in college.
You have to take chances, put yourself out there and accept that you’re going to have to do some things that will make you uncomfortable, but that it’s OK in order to grow and learn.
Fact 4 – Absolute Faith is a must
You must have absolute faith in your ability to achieve the results you want. Faith is described as the confidence that what we hope for will actually happen. You must believe that you can achieve whatever you put your mind to achieving. This will allow you to be fearless and powerful, not fearful and powerless. You must act without fear and with complete confidence in what you do.
Fact 5 – Develop Discipline
Being successful in this business takes a lot of discipline. You have to be disciplined enough to prospect consistently, to follow up with leads when you need to and to ensure that everything you do for your clients is done correctly. Develop the discipline you need, to do the things you must.
Fact 6 – Dump the Excuses
In order to develop that discipline, the first step is to dump the excuses. An excuse is not a reason for not doing something you need to do, it’s a way to justify or obtain forgiveness for not having done it. If it’s important, you’ll find a way to get it done. If it’s not, you’ll find an excuse.
Fact 7 – Harness the Power of Routine
One of the best methods of developing the necessary discipline is to harness the power of routine. A consistent, effective routine creates habits, a pattern for life that ensure success. Your routine could look like this:
- Make a To Do List, every night, for the following day and JUST DO IT.
- Be in the office at the same time every morning
- Role play your script for half an hour every morning
- Make the number of calls you need to make in order to reach the number of contacts you need to make every day.
- Do what you need to do every day, when you need to do it and not make any excuses.
- Give up the habits that are preventing you from doing what you need to do when you need to do them.
- Begin each day with an Attitude of Gratitude.
- Take care of your needs first. You can’t take care of them, if you don’t take care of you.
- Set realistic intentions for your day. “How much money do I want to make today? How many people do I need to see?”
- Dress for success. It helps you psych yourself up for the day.
- Have personal reinforcement tools available. These help you deal with rejection and reinforce your self-confidence. (i.e. mantra, music, poetry)
- Never mind the Results; FOCUS ON THE ACTIVITY. The results will take care of themselves.
- Deliver Value first. People don’t care what you know until they know that you care. Provide people with value and they’ll recognize that you’re the person they want to work with.
- HAVE FUN!
So, that’s the basics of setting your mind on the right path towards consistently doing what needs to be done on a daily basis to achieve the success you want and DESERVE. And yes, you deserve to be successful.
In my next post we’ll take a look at the mechanics of actually doing it. We’ll look at overcoming the fears that limit our ability to move in the right direction. And we’ll look at how to control the things that take up the precious amount of time we have in our lives.
Until then, get working on What’s in Your Attic.