In This Issue...
Words of a Champion
Dirk Zeller
CEO
We are now 1/6th of the way through the year. We are 30 days from completing the first quarter of 2009. It’s amazing how quickly the time ticks off the calendar! It seems like just yesterday that we celebrated Christmas and New Years.
How are you doing? Are you on track to your goals? It’s time to do a little “check-up from the neck-up,” as my friend Zig Ziglar says.
- How many workdays have you hit your prospecting goals?
- How many listings have you taken year-to-date?
- How many buyer sales have you made?
- How many closings have you had?
The key is not how many closings you’ve had. That just tells us if you are ahead or behind in the results column. It does not show the real truth. If you answered the first couple of questions with a positive response, your closings will change.
The closings are a natural result of great daily activities. How are you doing on your daily activities?
What you have closed in the first 2 months is a direct result of what you did in the last quarter of 2008. You are, right now, getting the table for the 2nd quarter of 2009. Make sure that if you are behind where you want to be that you step up the prospecting daily. Your job is to apply, daily, the necessary discipline to your life and business.
Lastly, when was the last time you worked on your skills and listened to training material or took training or coaching? If you have not taken any training or coaching or listened to training material, do it! Make sure you are preparing and programming your mind for success. Don’t wait for change to come to you. Make it happen. Decide what you want and go out and get it.
This time of the year is critical. For those of you who are ahead of your goals don’t let up. It’s easy to let off the gas pedal and start to coast.
For those of you who are on track, stay the course! Make sure you are adhering to your Disciplines of a Champion.
For those of you that are behind, you still have time! You can catch up to the production goal. You cannot afford to miss a day of doing your disciplines. You must increase and intensify your prospect and lead follow-up.
Play to win!
To Your Success,
Dirk Zeller, CEO
RealEstateChampions.com
P.S. If the top producing Agent in your marketplace offered to let you use his/her listing presentation as your own, what would that be worth to you? Well, I'm going to give you a peek at the Listing and Pre-Listing Presentation Package and tactics that I used to sell 150+ homes a year and an average Agent used to achieve... (full case study on the next page). This is by far the most requested and anticipated program I've ever produced here at REC, so make sure to take a look further today...
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P.P.S. I also wanted to let you know that I'm working very hard on a brand new program dedicated to a subject I believe is crucial for you to have in your business right now - powerful scripts and dialogue. It's going to be packed with scripts that have been proven to increase the production of Agents in today's markets - you'll have the ability to streamline your business with scripts that will instantly conquer many of the problems and situations you'll face in today's tougher marketplaces. So make sure to keep an eye out for the email announcement in the coming weeks!
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Facing New Challenges
I have always believed that new challenges in life present new opportunities. We are given opportunities to grow, improve, and learn new skills and abilities, which we might not learn otherwise.
It is easy to get comfortable and complacent when the going is easy. We often just ride the wave of success, rather than learning how to paddle better. We miss the opportunities to learn, grow, and gain greater strength.
I have come to realize that there is always a greater challenge around the corner. The obstacles that you are facing right now are preparing you for the future. I did not always embrace this attitude of gratitude for challenges and obstacles. I used to say, “If I could only solve this problem, I would have everything else handled.” That’s not the way that life and business works. The most successful people are problem solvers. Rather than CEO, President, Sales Manager, or Salesperson on your business card, it should read Chief Problem Solver.
One technique to build your confidence and competence in facing new challenges is to record them. Record the challenge then think on paper to create the solution. Too often, we don’t concisely write out the new challenge. Then we fail to think solutions through on paper. Completing this process gives us two benefits:
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Greater access to our mind to create solutions: By writing your challenge down, you activate your whole mind (the conscious and subconscious) to work on the challenge even when you are asleep. You will light a mental fire that will burn bright until you have extinguished the problem for good.
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A record of success: By writing things down, you create a blueprint for greater success. You allow yourself to go from one victory to the next, applying your gained knowledge quickly and efficiently. Making the right decision is essential to success, but making it quickly is nearly as important. Sometimes, we might make the right decision, but we have waited too long. We have missed the opportunity that was before us. Many times, opportunity merely knocks once. You must be prepared to seize the opportunity when presented.
The speed at which a good decision is made is essential. Place yourself in the cockpit of an F16, one of the highest advanced aircraft in the world. You have been instructed to attack another military force. You have a series of missiles bearing down on you. Do you let the speed at which you make the decision have a bearing on your success…of course! If you don’t move quickly, you’re dead.
We have to take the right perspective and attitude to achieve success. We have to acquire the focus and intensity of a great problem solver. We have to act decisively and quickly to achieve our desired result.
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Successful Practice
We all have a fundamental choice when we fall short of our goals and dreams. We can choose to modify our goals and dreams or magnify our skills needed to reach them. These are the only two solutions to this quandary we are in. Which are you going to choose? We must focus on acquiring the skills to create abundance in life. The mastery of the skills will create a life full of rewards. To acquire the skills in sales, in order to create abundance, we need to break it down to two components.
The first is - we must talk to a lot of people. Great salespeople talk with more people than mediocre salespeople. By talking to lots of people daily, we insure victory. Mediocre salespeople let their feelings dictate their success in prospecting. When they don’t feel like prospecting, they don’t. Great salespeople cause their minds to control their actions in a positive manner. George Patton, the famous general, said, “You have to make the mind run the body. Never let the body tell the mind what to do. The body will always give up. It is always tired — morning, noon and night. The body is never tired if the mind is not tired. You’ve always got to make the mind take over and keep going.” Which is winning daily in your life? The mind or the body? Resolve to control your body and talk to lots of people daily.
The second solution is practice. Daily practice is as valuable as making the sale. To develop a high level of skill in life we must practice. I spent hours in my youth practicing on the racquetball court my variety of shots. If I had not I would never have won any tournaments. For me to be able to play at the professional level in racquetball, I hit hundreds of thousands of cross-court, backhand shots. This allowed that shot to be automatic under tournament pressure conditions. What do you need to practice on to become a world-class REALTOR®? Is it your prospecting, qualifying, listing presentation, lead follow-up, negotiating? Each one of these areas needs practice. To achieve mastery of these skills it will take thousands of opportunities to improve your skills. Do you want to make the errors on “live” buyers and sellers or do you want to practice on partners where it is cheaper? Which do you choose? Let me share another example. Your child is learning to ride a bicycle. Do you send your child out on the busiest street for their first day or do you keep him or her in the backyard? I am sure the answer is obvious. Practice in a controlled environment gives us confidence and the skill to compete. It allows us to create wins in practice before we have to play the game.
Make sure you adopt these philosophies and make a concerted effort to talk to a lot of people. You then need to practice daily so you improve your ability to execute in the moment.
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The Truth About a Real Estate Agents Time
There are three categories that our every waking work hour will fit into. The percentage of how your time is allotted among these three categories of time will determine your income and net profit. Champion Performers in any field of business quickly learn which actions account for the great majority of the results they achieve. They save their time for the activities that present the highest return on investment with the intension of improving the consistency and intensity at which they perform these high-value activities.
In the real estate area, I describe these activities as Direct Income Producing Activities (DIPA). The DIPA allotment and investment separates the Champion Performers from the middle of the pack, or even good producers. The activities that qualify as DIPA are things we do that have a direct connection to production and revenue creation.
- Prospecting
- Lead follow-up
- Listing presentations
- Buyer interview presentations
- Showing property to qualified buyers
- Writing and negotiating contracts
It is indisputable that, if you spend a greater amount of time in these activities, you will dramatically increase your income and quality of life.
I have watched countless Agents take a firm grip on the wheel of these DIPA activities and have seen explosive results in income. I watched Agents add $100, $200, even $300 an hour to their value per hour in less than six months through focus and adherence to increasing their DIPA hours each day.
A typical Agent spends less than 20% of their hours invested in DIPA. This low percentage relates to their income fluctuations. An Agent must spend a minimum of fifteen hours a week in Direct Income Producing Activities. It means, for most Agents, they need to spend that fifteen hours a week in prospecting and lead follow up if they want growth. If you do that, you will guarantee your success. If you fail to do that, your success will be questionable. A Champion Agent goes beyond the fifteen hours a week. They are far beyond the 20%, 30%, even 40% level. I have a Champion Agent client named Kim Heddinger in Eugene, Oregon. She has increased her income by more than $200,000 a year for the last two years. The reason for this is 80% of her time each week is focused on DIPA. That’s the highest percentage of any Agent I have ever heard of in the real estate industry. She guarantees her growth, net profit, and quality of life because she doesn’t let anything reduce her 80% number each week. She is truly a Champion Agent.
My opinion is that the other categories for your time, the Indirect Income Producing Activities (IIPA) and the Production Supporting Activities (PSA), are far less valuable in terms of time. They are also the worst part of the job as a Real Estate Agent. These areas are where all the stress, emotion, frustration, and problems are encountered. They are areas where, if you spend too much time, you get burned out, chewed up, and spat out. Why would you want to spend time investing more than is absolutely the minimum amount in them?
Indirect Income Producing Activities are the tasks we do to help create income that cannot be as directly linked to revenue as DIPA can. It’s the marketing pieces we create for our farm or some other direct mail strategy. It’s the e-mail we send to a buyer who hits our website. It’s the ads we create to run in the newspaper, magazines, or online sources. It’s all the things we do to try to generate leads or opportunities that are more difficult to convert and track. They cannot be counted and linked as easily to revenue
Production Supporting Activities are all the tasks we must do to service the client and prospects. It’s creating in-home flyers. It’s faxing, copying, filing, and letter writing. It’s all the phone calls that we make to Lenders, other Agents, Inspectors, Appraisers, and repair men. It’s anything that supports the production we created. I realize that PSA stuff must be done. When we prospect and do lead follow-up effectively, we create PSA work to be completed. It’s the cycle of sales. The question is are we spending the minimum time possible doing the PSA work?
One way to minimize the lost revenue during the time we spend doing PSA is to do them in low value time. Each of us has a time during the day when we have more energy, intensity, and focus; when we are most productive to our goals. That time must be reserved for DIPA and DIPA only. We can ill afford to let IIPA or, even worse, PSA slip into those slots. My time of focus and intensity is highest in the morning. I need to ensure I protect that time from 7:00 am, when I begin my work day, to about 11:30 am, when my mind starts to focus on lunch and loses a little of my edge for DIPA. Production Supporting Activities don’t produce revenue, so we can’t let them take over our days. If you do, you won’t get back to revenue producing pursuits.
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