- There are fewer deals in the market than there were 6 years ago
- Fallout rates have about doubled (today you sell 3 to close 2)
- Prices – and therefore commissions – have fallen
- Transactions, particularly Short Sale and REO Transactions, have become increasingly complex, requiring more time to process
The Bottom Line:
You are working much harder to close fewer transactions for less revenue
The only answer is to do MORE. But HOW? How are you going to do more? You’re already maxed out . . . there are just 24 hours in a day . . . and, believe it or not, your energy level is a finite quantity!
We used to spend more on Marketing to do more. Ordinary Realtors usually recruit more agents. But we are in a New Reality, and if recent history is any indication, those methods are flawed at best.
This year, you’ll do more my creating more FACE TIME for yourself.
Face Time is the time you spend eyeball to eyeball with people. It’s not time at the computer or with your nose in a file. It’s your arena: where your business germinates.
You’ll create MORE FACE TIME (and more deals) by exploiting efficiencies in your business. Things like:
- Limiting the distance you will drive to take a listing and drive times in general
- Converting every repeatable event in your business into a step-by-step process
- Honing your scripts and dialogues until they are crisp and effective
- And so on
You’ll also create MORE FACE TIME by getting help. It may come in the form of:
- A Buyer Agent who enables you to focus on Listings, Marketing and Lead Generation (most likely the highest and best use of your time)
- An Assistant who handles your paperwork, takes your calls and keeps your schedule
- An Intern (quite possibly a FREE Intern) from a local college who optimizes your website and builds your online presence (I’ve used bold italics on purpose)
Recognize that your business grows by personal contact. The more personal contact you have, the better your business grows. It is through personal contact that people come to like and trust you and that remains the single most important prerequisite to doing business with you. Want MORE in 2012? Minimize desk-time by exploiting efficiencies and getting help, and Maximize FACE TIME. Meet The People.
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The above is a summary of my opening comments at the Success Summit. Here are a few minutes of video from that talk: