How are those New Year’s resolutions working for you? The dream is that our resolutions and goals lead us to a higher ground, to new horizons. They give our eyes a focus, our mind an aim, and our strength a purpose. Without the positive pull forward of a resolution or goal, we risk remaining forever stagnant, or even worse sucked into a backward spiral.
So why is it so hard to keep and reach them?
We have all felt the excitement that comes with setting a new goal, but then, as time progresses, excitement can morph into anxiety. This is because we are facing the reality that we are so far from our goal and have no framework or strategy of how to get there.
So how do you overcome life’s hurdles and personal mental roadblocks to reach your BIG goals?
The reality is, there’s a SCIENCE to goal setting
In over 650 studies completed with over 50,000 participants, scientists analyzed what worked best when goal setting. Overall, individuals who focused on Process Goals had more success in reaching their goals than those who simply set Performance or Outcome Goals.
So, what is the difference between an outcome goal, a performance goal, and a process goal?
An outcome goal is one that isn’t really under your control. Instead, it’s based on outside circumstances. For example, if your goal is to the #1 selling agent in your market, that’s a goal that’s not only based on your numbers but also the numbers from other agents in your market too.
Performance goals are personal achievement goals. They are the building blocks that help you reach your outcome goal. A good performance goal example is to “beat my personal record of 21 homes sold in a year.
Process goals are completely under your control and are composed of the things you do on a daily basis like habits and routines. Think of these as the small steps you take to get to your performance and outcome goals every single day. An example of a process goal would be to “spend 60 minutes prospecting daily” or “40 minutes of cardio work.”
So, there you have it, the science behind more effective goal setting. Break those outcome goals down to the daily activities, the daily processes and your likelihood of achievement is dramatically improved.
Interested in coaching? See if it’s right for you: www.jparcoaching.com
Like many of you, I’m coming off a major Thanksgiving holiday. Full of friends, family and the food coma. A study from 2007 found that eating a meal with a high glycemic index shortened the time it took for people to fall asleep by about 50% when compared to those fed a low glycemic index meal.
But there’s likely more than one reason a Thanksgiving feast can end in sleepiness. A study from 2009 suggests that cross-talk between the gut and the brain after a meal activates the hypothalamus, which indirectly stimulates regions responsible for sleep while simultaneously suppressing regions responsible for wakefulness.
In last week’s blog, I wrote about the Mindset, Attitude, Actions, and Results circle. That’s kind of like the cross talk between your gut and the brain after a big meal, yes!? Here is what we know, the difference between mindset and attitude are clear: mindset is a way of thinking; that in turn drives your attitude which shows up in how you approach things, your language tone and posture. That in turns drives your actions and your behavior which ultimately delivers an outcome or a result.
So, IF your business is in a food coma, or you are being proactive to avoid the holiday business coma, here’s 2 steps to consider.
1. Improve your posture and increase your daily physical activity over the next 4 weeks.
2. Make sure your business plan is relevant and up to date by 12/1. And in that process ensure you:
a. Define YOUR unique value
b. Trouble shoot any issue holding you back
c. Be clear and FOCUS on a clearly defined target market
d. Get in a small group
Move your body MORE
Tony Robbins, consultant and coach to CEO’s and self-help guru believes that what the body does, the mind follows. Wake up your body and your mind is awoken.
Example: what is your posture at this moment? When was the last time you went on brisk walk? How do you carry yourself? How do you dress yourself? How does your face look at this exact moment? Change your physical state: Take a daily walk, sit up straighter, put a smile on your face, dress the part for your industry and see if that doesn’t have an immediate effect on your mindset.
If you’re interested, look into the book “Presence” where author Amy Cuddy explains the science behind all of this and even shows you a couple of power poses. Here is a link to her amazing Ted Talk.
Is Your Business Plan Relevant?
Define your value and remember it’s NOT all about you! Be TOTALLY clear about how choosing you as a real estate agent benefits your prospect. When someone asks you what you do, it can be tempting to list your awards and accomplishments. Try to be mindful about naming specific ways your services benefit sellers, buyers or investors. Benefit-focused value statements resonate with prospects in a meaningful way. For example:
I specialize in helping empty nesters find the luxury downtown condo that’s just right for them.
I am a ninja negotiator with a track record of selling homes at an average of 2 percent over list.
Want to sell fast? Then I’m your real estate agent, as my listings sell in 26 days on average, 13 days faster than the norm.
Troubleshoot any issue holding you back. Unless you are a hobbyist in real estate, you’ll need systems for:
Consistent quality – for you, your clients and your partners.
Simplifying your workload – like a checklist for a pilot before takeoff
Saving time – less time wondering what to do next and more time doing it
Highlighting and eliminating inefficiencies
Growing your business – serve more people, make more money
Do you have a clear TARGET?
When we see agents and teams struggling, too often their target market is just not specific enough. Many agents and teams may have several different types of target markets. Yet, for the purposes of marketing your business, you want to start with a laser focus on sellers and buyers. Your target market profile should be specific enough to answer basic questions like:
Where can you find sufficient numbers of them in groups?
What media do they consume? (How to reach them)
What blog sites, websites, forums do they frequent?
How engaged are they on social media and which platform?
What associations do they belong to?
The power of a small group. If your business is struggling – or you want to avoid the holiday coma – as the business owner, it can be tough to see the forest between the trees. It’s easy to get in overdrive mode putting in more hours working in the business with little or no time left to work on the business. This is where it would be wise to seek expert from like-minded individuals, a business coach or BOTH.
What action will you take to get out of OR avoid a business holiday coma?
Last week we conducted an amazing business plan session via zoom, and well… we forgot to record it! Human error. Well, our error is your benefit because here is a cliff note version of that session.
Nationally about 3% of agents create 20 or more transactions a year, yet at JPAR nearly, 8% of our agents create 20 or more transactions. Why is that?
Better planning that leads to better execution.
So, what are the secrets of those highly productive agents?
- They don’t wait. They start business planning in October. Face it, residential real estate typically runs in 90-day cycles. If you wait until December to look at your 2019 business plan, the first quarter of 2019 will already be set, done and all but over.
- They are very CLEAR on their WHY, their VISION, and their unique selling proposition… the one thing that differentiates them from all others.
- They rely on more than one source of leads. With a mindset of “always be testing” they have tried and failed, yet over time have created at least 4 different sources of leads.
- They understand the source and cost of all leads… which ones convert, and which ones don’t.
- They understand that trying harder simply doesn’t work. So, they don’t expect to do the same thing and get a different result. You might want to read YOU SQUARED by Dallas based business coach Price Pritchett.
- They break everything down to the simplest terms. A daily number and a daily activity.
Bonus secret? Those highly productive agents that are crushing their goals have surrounded themselves with a mastermind group that meets consistently to discuss the business plan, execution, challenge assumptions and holds each other accountable.
So, there you have it, 6 steps to a better business plan and one killer bonus secret. What will you do to up your business planning game this week?
Looking for business planning templates? Reach out to us via www.exceedingexpectations.info
Coaching? Take us up on a free coaching consult to see if coaching is right for you: www.jparcoaching.com
Regardless of where you are on your goals for 2018, there is still time to produce more this year. If your desire is to close the year strong, not be broke on January 1 and be prepared for an amazing 2019 then you gotta read this.
3 killer strategies to close out 2018… up your seller education game; portray trust and regardless of YOUR age, appeal to millennials.
Recently I had the honor of attending the Zillow Premier Broker event in Chicago, IL. The Zillow Consumer Housing Report was an amazing value add, and at least 3 major trends stood out for me.
Trend 1: Up Your Seller Education Game
Zillow’s research shows more than half of all sellers have NEVER sold a home before. It’s a totally new experience for them. Place yourself in their shoes: Are they scared? Are they’re apprehensive? Are they afraid of being taken advantage of? Do you think they wish they knew more than they do? That answer would be YES to all of those
So, let’s look at what that means to you and me. This is one stat begging you to proactively help educate your prospects and in the process attracts more referrals and more listings
For those of you with extensive experience, you could write up a report like, “4 Ways To Maximize The Value Of Your Home” or “3 Essential Facts Every First-Time Home Seller Must Know” and offer them on your lead capture landing pages. Promote them by running Facebook ads in your target communities along with a video about how you’re passionate about educating sellers. For those of you with less experience, you can hire out these reports to content writers in your area… check out FIVERR or #GTS = Google That Stuff!
Practical ideas to consider:
- Informative Direct Mail Campaigns, like:
• The benefits of a “Home Warranty Sellers Coverage” policy
- Short special reports and white papers, like:
• Best Home Improvements
• Determining Your Homes Value
• Value Of A Pre Sell Home Inspection
• Benefits Of Partnering With A Hyper-Local Expert, Like Me!
- Educational seminars or zoom sessions
- Short videos to walk people through the process with a call to action to reach out to you
- Quick seller tips on social media with a call to action to reach out to you
And while it may be their first time, today’s sellers have access to more data and best practices BEFORE they reach out to possible selling agents. They are looking for a strategist with the market knowledge, marketing skills, and legal know-how to do the heavy lifting that will get them from sale to closing. Some of the activities “self-starting sellers” get a jump on before engaging with an agent include home improvements (50 percent), coming up with a list price for their home (39 percent) and securing a home inspection (25 percent).
Example? While this is commercial, here is a great example of leveraging content for adding value and lead capture. Review this site for ideas!
Trend 2: Ensure Your Marketing And Promotions Portray TRUST
Eighty-six percent of consumers say trustworthiness is “extremely” or “very” important when choosing an agent. When your biggest asset is at stake, you want to trust the person guiding your transaction.
So, let’s think about what makes someone trustworthy. Or better yet, let’s discuss who we don’t consider trustworthy:
• Complete strangers
• Salespeople who only show up when there’s something in it for them
Obviously, the more familiar people are with you, the more they are naturally likely to trust you. So, if 86 percent of consumers are telling you that you must be trustworthy to even be considered, what’s that mean to you? It means you need to be putting yourself in front of prospects over and over and over again to create that familiarity that breeds trustworthiness.
• Do you have more than 5 testimonials and endorsements?
• Do you create a “social proof” marketing piece that shows what OTHER people say about you?
• Are you visible and involved in the communities you serve?
• Are you marketing to the same neighborhoods consistently or jumping around to wherever you take your next listing?
• Does your website or your marketing give any insight into who YOU are as a person, or do you come across like a real estate robot?
All of these questions lead to huge opportunities to build trust with homeowners so when they decide to sell, you’re already in that “extremely important” category of being trustworthy.
Trend 3: Regardless of YOUR Age, Appeal To Millennials… nearly 50% of your future business may depend on this!
Millennials – that generation between the ages of 24 and 38 – account for 42 percent of all home buyers and 61 percent of all first-time buyers, according to Zillow’s report. These folks were raised on the Internet. As a result, they’re accustomed to Amazon-level service and ease of use. You know that experience: Where you order something late Friday night and somehow it shows up on your doorstep on a Sunday morning! That’s the standard you’re up against when you work with 42 percent of buyers. So here’s the big question:
Are your services and systems up to that standard?
If your answer is no, it’s time to adapt how you do things.
Strive to make working with you as easy as ordering from Amazon.
Where can you streamline? What can you eliminate? What more can you do prior to meeting with a buyer to make the process smoother? What “extras” can you provide to make your service more beautiful? We all need to be asking ourselves these questions and refining our systems on a regular basis because that standard isn’t reversing course anytime soon. It’s only going to get higher and higher.
There you have it… 3 killer strategies to close out 2018… up your seller education game; portray trust and regardless of YOUR age, appeal to millennials. What will you take action on? Let me know…
Need a free coaching consult? www.jparcoaching.com
We are on a mission… a mission to create the most productive brokerage network in the world. That requires transformation… I was thinking, wouldn’t it be cool if it was as easy as the type of transformation Clark Kent goes through when he becomes Superman, or when Diana became Wonder Woman?
Here’s what I know, to achieve all of our dreams some type of transformation is required. And unless you are blessed with superpowers, transformations don’t happen in isolation. If you’re stuck, get in a small group. If you’re on track get in a small group. If you’re crushing it I suspect you’re already in a small group. None of us will transform without the power of being in a like-minded mastermind group where you can share, discuss, challenge and get some accountability.
Consider starting or joining a group this week. Don’t know what to discuss? Consider these possible themes:
6 guidelines for business transformation. 1. Let the consumer drive your direction; 2. Decide what type of transformation you need; 3. How to involve your team, vendors and support network; 4. How to say NO to the comfort zone; 5. Being open, listen to others and be prepared to change as conditions dictate and 6. Best practices to never stop… never stop with a continuous improvement mindset (make it better, make it better, always make it better).
The JPAR quarterly review or business planning templates and how you plan to close the year strong, fully prepared for 2019.
Possible Topic About Marketing:
As you think about closing the year strong and starting the year fast I’d ask you to consider content-based marketing.
Content-based marketing is about marketing your real estate services based on the consumers intent to engage.
Marketing to the consumer’s intent is expected to produce a better ROI over more traditional methods, mostly due to specific targeting and higher quality responses.
One idea you could execute would be white papers that you hire out Fiverr or write yourself along with an associated “push and target” distribution campaign to drive leads. Examples:
4 reasons to sell and buy in Flower Mound
6 ways to increase the value of your home in Frisco
7 things I bet your real estate agent never taught you about Austin real estate market
Many social media companies allow you to target a likely seller or buyer by way of geographic area (ex. 10 mile radius from a property), age (ex. 35-50), income (ex. at least $50,000 and less than $80,000), and even credit score (cool, right?). And others like SmartZip offer predictive intent based tools for the modern real estate agent.
So there you have it – at least 3 major topics to get started on in your small group. When will you begin?
Every picture tells a story, and that’s true of today’s blog post photo. Take a look… that image just may have hit home for you as it did for me.
I have few regrets… yet recently I happened to be in a business meeting where we moved the chess prices around the board yet did not address the true underlying issue. Instead, I chose the path of least resistance… the path of comfort instead of the harder truth. Conflict was avoided yet so was the real growth opportunity. Can you relate to a similar situation in your business or life?
While comforting lies can be, well, comforting, they won’t help us get through a challenging situation in a way that serves our mutual best interests. Comforting lies won’t help you grow. So, if your desire is to be the best version of you, switch the line you’re in. Move from the easy line of comfort to the more challenging line. The unpleasant truth will equip you with the feedback to make the best next step. The next best course of action given your circumstances, desires, and dreams.
As a mentor, coach and consultant here’s what I know: “a coach is someone who tells you what you don’t want to hear, who has you see what you don’t want to see, so you can be who you have always known you could be.” Let’s be that person this week for all the people we influence.