Are you ready to tackle Shift Tactic #3: Do More With Less – Leverage with Real Estate Trainer and Coach Joe Quattrucci? In this tactic, Joe presents the ways agents need to take stock of themselves and their real estate business. Think of it as a deep dive into how you operate, with a focus on what is working–and what is not working.
It is helpful to be open to change at this point. Why, you might ask? Because as the market is shifting, you and your business may need to change. Being open to change will help you find ways to capitalize on the many opportunities the real estate market shift is creating for you.
Take Stock of Yourself
How often do you take stock of yourself? How things are going for you, and what might be better in your life or work? If you’re not reflecting on your reality, you might be living in a fantasy.
To see where you are in your real estate business, ask yourself these questions:
- Am I maximizing my own productivity?
- Am I doing what I get paid to do?
- Do I have the right people in my business?
- Employees
- Vendors/Suppliers
What are your answers? If your answers are anything but “Yes, Yes, and Yes” then keep on reading!
An Adaptive Mindset for Shift Tactic #3
Now that you are taking stock and realizing you could do things differently for better results, it helps if you have an adaptive mindset. Adaptive refers to the concept of change as a constant. Mindset refers to your innate ability to accept change. If your organization is changing and you are innately open to change, you are positioning yourself for success.
Take Stock of Your Systems
A system is what you have in place to process your business. It might be software, a workflow, or even an outsourced activity. Think about how your business runs, and look at the inflows and outflows from one end to the other. What is your focus and objective? Efficiency–”Do More With Less.” But you also have to ensure these systems are effective. Look at both efficiency and effectiveness of your systems to understand what is working.
Actions you should take:
- Reevaluate how things in your business are being done.
- Determine what is working and what is not working.
- Think about simplifying your systems!
Always remember:
Complexity kills both efficiency and productivity!
Take Stock of Your People
Remember back a few paragraphs when you took stock of yourself? Now, do the same exercise and see where your people are in your real estate business. Ask yourself these questions:
- Are my people maximizing their own productivity?
- How much bandwidth do they still have?
- Are my people doing what they get paid to do?
What you want to know is if you have the right people in the right spots in your business. If things are working well, that is good news. If there is room for changes or more responsibilities, work to make that happen.
Follow these Seven Steps to ensure a positive talent shift:
- Share your vision–make sure your team knows your future plans.
- Meet individually to ensure everyone understands the vision and commits to it.
- Realign job descriptions (leverage the Six Core Competencies as a template).
- Establish measurable goals, standards, and activities for each team member.
- Create a simple training schedule so everyone has the training they need.
- Implement weekly 1:1 meetings and focus on goals, standards, and be sure to inspect what you expect.
- Celebrate victories and accomplishments!
Shift Tactic #3 Truism
20% of Your Business Activities Yields 80% of the Results
What are the Business Activities that yield results? Here are the top six activities:
- Lead generate, capture, and convert to appointments.
- Present to buyers and sellers, and get agreements.
- Show buyers and market sellers.
- Write and negotiate contracts.
- Coordinate the sale to closing.
- Manage the money.
Knowing this truism, and focusing on these activities, shows you the way to proceed with systems and people in your business.
Step 1: Stop Doing What Doesn’t Work
Let’s Talk About Lead Generation
Where are you spending your time and money? Do you know if your lead generation is working? This is a simple enough exercise, really. Identify your lead sources, eliminate what is not producing. And evaluate this on a regular basis. For example, if you have a website and it is not generating leads for you, what is the issue?
Shift Tactic #3: Your Lead Source Zone Exercise
- List your Top Ten lead sources.
- Write the number of valid leads or closings from each source.
- Prioritize your list by the highest number of closings to the lowest number.
- Stop allocating time and money to the bottom five and focus only on the top five.
(Graphic courtesy of Beat the Shift by Gary Keller.)
What is Your Lead Generation Message and Method?
There are just TWO categories of ALL Lead Generation:
Prospecting (SEEKING)
These are where you go to get a lead. Often inexpensive, and you get immediate results.
Marketing (ATTRACTING)
These are what you do to cause leads to come to you. You may be able to reach a wider audience.
Step 2 for Shift Tactic #3: Figure Out What Works in the Two M’s of Lead Generation
(Graphic courtesy of Beat the Shift by Gary Keller.)
Once you have your message, send it through one of the two methods. Then prepare to take action!
Step 3: Ramp It Up With The 4 P’s
See what is working with your message and method. Then use the 4 P’s to determine how to proceed:
Pause It–when you need more time to respond or adjust
Pivot–when the message or method must change
Pull the Plug–when it is not working
Power Up!–when you get results!
Shift Tactic #3: What a Three-Hour Day Should Look Like
Does your day look like this? If not, you might consider making some changes!
Prepare
Assemble your call list
Rehearse scripts (prepare handouts)
Take Action
Spend a minimum of 2 hours
Prospecting: calls, see people, write notes
Marketing Activities (mail merge, ad creation, delivery)
Maintain
Enter results into your database
Record and track
Scheduling
Shift Tactic #3: You Want Consistent Lead Generation
Ultimately, you are looking for consistent lead generation. What does that consistency look like? In the chart below, compare your real estate business to the upper and lower images. Does your business fluctuate and oscillate like the top image? Or is it consistently rising like the bottom image? Hint: the bottom image is probably what you want to strive for if you want consistency and growth!
(Graphic courtesy of Beat the Shift by Gary Keller.)
Real Estate Market Shift Tactic #3: Do More With Less with Joe Quattrucci
The concepts in Shift Tactic #3: Do More With Less are simple, yet amazingly powerful. Having an adaptive mindset means an agent is open to change. As a result, change offers agents a number of go-forward possibilities as they adjust their business during a market shift.
In addition to this Market Shift Series, Keller Williams Arizona Realty offers many other benefits for your real estate career. Our market center has been noted as having the best real estate coaching program for both new and experienced agents.
Contact us today to learn about the training and support you will receive at KWAZ. Our coaching team will work with you to develop a program that meets your specific needs. Our leadership team members are glad to speak with you at any time to answer your questions.
Feel free to call right now: 480-767-3000
