Newer agents: Are you ‘up and running’ or down and stumbling? It’s estimated that over 50% of new agents fail their first year in the business. From talking with thousands of them throughout my coaching, managing and speaking career, I know why: They can’t answer the questions below. In addition, they may be getting little guidance from their manager. Not having the combination of these two things almost assures their failure.
I’ve compiled 10 questions you should ask yourself. In this post , I’ll give you the first five questions.
1. Do I have a ‘start-up’ plan—a plan that tells me what to do, when to do it, how to do it, and why to do it? (Or, do I just come to the office and ‘go with the flow’)
Key point: This isn’t an ‘on accident business’ anymore!
2. Am I waiting for someone to tell me what to do each day, or do I have focus and purpose with my plan? (it doesn’t work to ask your manager what to do each day, and, as a newer agent just told me, your manager answers, “Mail some postcards.” You wouldn’t expect a Starbucks franchise to ‘guide’ the new franchisee that way, and you’re not going to get a business start with that kind of piecemeal ‘advice’!)
3. Do I have a daily schedule that is prioritized with the business actions most important to me to assure I make money? (If you’re just relying on your office for its floor time and meeting schedule, or, worse yet, those awesome (ha!) Internet leads, you aren’t in the business!)
Key point: You should be scheduling at least 75% of your time. (the other 25% may be scheduled by your office—meetings, etc.)
4. Do I know the best methods of lead generation—and how to implement them? (You can’t wait for ‘training’ that starts in 3 months to start your business!)
5. Do I know the numbers? (how many contacts does it take to get a lead, how many leads to get an appointment, how many appointments to get a listing, showing, how many showings to get a sale, how many marketable listings will sell) (If you don’t, you are destined to be an ‘on accident’ agent—only selling someone something when the stars are aligned).
Key point: Knowing your conversion numbers puts you in the driver’s seat and allows you to really be independent—your own manager.
If you can’t answer the questions above with authority and confidence, you need much more business direction than you’re getting now. It’s time for you to get serious about real estate as a business, and grasp a start-up plan and the support you need to assure your success. Quit stumbling and get ‘up and running’!