Archive for Sales Strategies

When ‘No’ Doesn’t Mean No

April 28th, 2021

Do you stop communicating after one ‘no’? Find out why that’s a failing strategy.

You don’t want to be a ‘pushy’ salesperson. It’s not pleasant when someone tells you they’re not interested, or ‘just looking’. Because you’re not pushy, you quit communicating with the potential client. The inclination is to go to the next person. Not so fast.

Watch the video and see why accepting that first ‘no’ is a mistake that will negatively affect your bottom line.

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Want sales training that actually makes a huge difference in the success of your career? Check out my innovative online program, Up and Running in Real Estate. You’ll get a proven business plan, training, and personal coaching with me weekly. You’ll know for certain what to do each day and, most importantly, why you’re doing it so you don’t waste time and money. Is it time for you to invest in yourself? Check it out here.

Categories Business Plan, communication, customer service, expectations, lead generation, new agent business plan, new agent online training, new agents make money, New Real Estate Agents, online training, presentation skills, Real estate as a career, Real Estate Sales, Real Estate Success, Sales Strategies, time management, Up and Running in Real Estate
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How to Make More Money in Real Estate in Less Time

by Carla Cross

August 12th, 2020

Here’s how to make more money in real estate in less time. When would-be agents investigate real estate as a career, they ask questions like:

Is a career in real estate worth it?

How much money can I make in real estate?

To answer those questions–and to sell books–you’ll find dozens of books titled ‘how to make a million in real estate’ or ‘how to be a real estate superstar your first year in the business’. You’re lead to believe anyone who goes into real estate is bound to make gazillions–fast. (Have you seen the myriad of TV shows where those beautifully dressed agents show $10,000,000 homes to adoring clients? It looks so glamorous and easy!)

Caveat: There’s one book for the seasoned real estate agent that really does lay out a concrete path to making, and then profiting a million dollars in real estate. By Gary Keller, The Millionaire Real Estate Agent is based on studies of successful agents and systems proven to produce those results. If you read it, you will discover that this means setting long-term goals and working like you owned a business (you do) for years!

The sad truth: Few agents make a million dollars. The really sad secret: Over 50% of new agents fail to make it through their first year in the business. There are a myriad of reasons. From interviewing and hiring hundreds of new agents, and seeing so many start-up plans, I believe the main reason new agents fail–and seasoned agents flounder–is that they are following an activity plan that just won’t work to make them money.

How Most New Agents Launch Their Careers

Most ‘activity plans’ new agents are given are activity plans for failure. (Agents who are floundering are also following these ‘failure-insured’ plans). The proof: According to the last National Association of Realtors’ survey of members, (2019), 54% of agents under two years in the business grossed less than $10,000 (that’s before expenses!). You don’t want to be one of those people.

What One of Those Failure Activity Plans Looks Like

The situation: You’re relatively new at sales. Your sales manager has suggested several activities for you to do:

Inspect listings
Organize your desk, files, books, etc.
Review forms
Attend orientation
Get your multiple keys; go to Realtor orientation; attend your multiple listing service orientation
Attend your office training

Following directions, you dive into all these activities, excited to start your sales career. You’re enjoying looking at pretty homes, and you don’t mind doing the rest of the activities. In fact, you find these activities rather easy to do, and you’re looking forward to the money just pouring in. If this is a successful real estate career, bring it on!

The Problem: Those Aren’t The Activities that Make You Money

But, the money doesn’t pour in. Look back at that list. Do any of these activities have to do with meeting and working with clients? (the only way you’ll ever make money!). Unfortunately, no. It’s all get ready. Now, there’s nothing wrong with organizing and educating yourself–if you only do it for a short period of time! The big mistake new salespeople make is that they keep doing those ‘first week activities’ as a priority for the remainder of their careers. Don’t do that! (Up and Running in Real Estate , my business start-up plan for future successful real estate agents, categories these activities as business support activities).

Why Would Your Manager Give You a Wimpy Activity List?

New agents have shared with me their ‘interview’ questions. They are not really interviews. They’re just sales jobs. The manager’s goal is to say whatever needs to be said to get that license on the wall. Then, the agent receives that wimpy activity list to underscore the thought that real estate is easy, everyone can do it, and you’ll do great without much effort (not all managers, of course, but, failure rates prove this is all too common.)

That List is Pre-Sale Stuff

In real estate, we call new homes that are sold prior to their being finished ‘pre-sales’. I want you to think of that list of six activities as ‘pre-sale’. You aren’t going to start making money until you get, as Up and Running in Real Estate states

on the sales path.

Here’s what that sales path looks like:

*In my Up and Running programs, these activities are called “business producing” activities.

When to Get on That Sales Path

Give yourself one week of ‘pre-sale’ activity. Then, start your Up and Running business start-up plan, so you’ll get a sale in 30 days. That doesn’t mean you will quit doing those six preparation activities. It just means they will take a lower priority to your actually working with and selling clients.

Staying On Track Isn’t Easy without a Great Coach

Assure your success by asking someone (either your manager or a professional coach) to coach you to your plan and hold you accountable. Why? Because it’s human nature for us to slip back into those easy-to-do, low-risk pre-sale or business-supporting activities, because they’re easy and risk-free. Armed with a proven business start-up plan and a coach, you have the right priorities, the right attitude, and the support you need to succeed.

Note to managers: Look at the activities you have the new agent doing in his/her first month. Do these activities include lead generating activities, or are they just keeping the agent busy? Be sure your activity list is a success list, focusing on finding, working with, and selling clients, not a busy-work list.

30 Things to Do While You’re in Pre-License School to Hit the Ground Running

If you’re in a pre-license school now, you know you are getting information to pass the test–not to succeed in real estate. You need an activity plan right now so you can do many of the things that will otherwise slow you down once you’re licensed. Grab my 30 things activity plan here.

Why Your Marketing Isn’t Working Now

by Carla Cross

July 2nd, 2020

Which kind of marketing is working best now–passive marketing or active lead generation?

Marketing (spending money and waiting for responses) was working when the real estate industry was going strong. Agents could spend marketing dollars and expect to gain new clients. Then, it all changed. What happened? The pandemic. Instead of people responding to marketing, they stayed home and ‘cocooned’.

What’s Working Now?

It’s estimated that 80% of agents are waiting for the market to go back to ‘normal’. They’re effectively out of the market.

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But, some agents are having great years. What’s the difference? The agents who actively lead generated are doing well. What do these agents do?

Reach out to their potential, present, and past clients with meaningful messages. In other words, they actively lead generate.

A Different Kind of Lead Generation

However, there’s one big difference. Instead of asking, “Do you want to buy or sell?”–agents are calling to stay in touch and to offer help.

Connections Agents Are Making

Here are the twelve types of connections that agents all over the United States are making.

Create a brainstorm group of agents to share ideas on connections—from Sandee McDuffie, Las Vegas, NV.
Interview area experts (doctors, attorneys, schoolteachers, health experts) in a Facebook live or Zoom call. Record these. Publish to Facebook, with an ad to boost. Joshua Service, Bellevue, Wa.
Create a food drive for those in need.
Support your favorite local restaurant by publicizing it on your Facebook page. Diane Lucas, Bellevue, Wa.
Take a ‘care package’ of masks, gloves, hand sanitizer etc. to your clients
Send a short video with a list of all types of resources to your client base. Sandee McDuffie, Las Vegas. NV.
Send a gift that resonates with them and you: One agent sent peanuts with a card
Drop off some pansies with a note
Going through your database (or your phone) and just catching up with people you haven’t talked to for awhile. They appreciate your caring !
Share a book you just read or love (positive) with a text, then a note with the book, and then another text
Send something in the mail often: $50 grocery card with thank you note; Starbucks card
Publish the latest statistics from your MLS ; share with clients. In some areas, that’s great news! Compare with last December. Chris Cross, Bellevue, Wa.

Your turn. What are you doing to keep your business relationships alive so that, when the market returns, your clients will remember you and think of you for their real estate needs.

Do you think agents who are waiting it out will return to a viable career?

Jump-Start or Re-Start Your Business Now

It’s easy to mentally and emotionally get out of the business when you don’t have a strong client base. But, that attitude won’t help you create a viable business and make money this year. Why not get a solid plan of action, some accountability, and some training — all at the same time? Look at Up and Running in Real Estate, a fast-paced, challenging, effective business start-up plan–online–with training built in. All online, so you can go at your own pace. Get free coaching, too!

Check out Up and Running in Real Estate now.

Categories accountability, action plan, Coaching, Experienced agent, FREE real estate coaching, lead generation, Marketing, New Real Estate Agents, Real estate as a career, Sales Strategies
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Your First Year in the Business: Are You ’Stumbling’ or ‘Up and Running’—and Why?

by Carla Cross

February 13th, 2020

Your first year in the business: Are you stumbling or up and running, and why?

It’s estimated that over 50% of new agents fail their first year in the business. From talking with thousands of them throughout my managing and speaking career, I know why: They can’t answer the questions below. In addition, they may be getting no, or little guidance from their manager. Not having the combination of these two things almost assures their failure.

If you’re unsure whether you will reach your goals, (or even make enough money to stay in the business), ask yourself these 10 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’)

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, you aren’t in the business!)

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).

6. Do I know how long it will take to get a sale? To get a listing? To get a listing sold? (so you can project your income) (New agents tend to wait, and wait, and wait, to get into the business ‘stream’, thinking that there is no time frame to buyers’ decisions—wrong!)

7. Do I have a method of setting goals and tracking accomplishments in the areas above—so I can analyze my specific strengths and challenges in this business? (Most agents never track what they do, so they don’t know what worked—or why what they’re doing isn’t working).

8. Do I have a budget so I know how much money I should be spending in marketing myself/marketing my listings?

9. Do I have someone to talk to regularly, to coach me, to keep me on track, and to help me if I fall off my start-up plan (to keep me from failing)?

10. Do I have a method to keep myself motivated and inspired to keep on keeping on (like a coach or your 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.

Why Not Get the Tools to Succeed at a High Level–Now?

If you’ve been in the business less than 2 years, and aren’t getting the success you need, deserve, and are working for, you need a program to get you onto the right track, teach you the principles of high production, and provide an action plan that’s proven to get results. Take a look at my online training/coaching/activity plan, Up and Running in Real Estate. You’ll get a fresh start on your way to the success you dreamed of.

Categories accountability, action plan, Business Plan, Coaching, goals, manager, Motivation, New Real Estate Agents, objectives, Real estate as a career, Real Estate Sales, Real Estate Success, retention, Sales Strategies, Training, Up and Running Coaching Companion for Manager, Up and Running in Real Estate
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How to Create a Great Opening for Effective Presentations

by Carla Cross

January 24th, 2020

Here’s how to create a great opening for effective Presentations

Do you have to get in front of 2 (or 200) and capture their attention immediately? If you’re an agent and you do buyer or seller presentations, you certainly do. And, if you’re in management, you do every time you start a sales meeting. You affiliates certainly have to quickly capture attention when you get in front of a sales meeting.

So, for all of you agents, managers, and affiliates, here are the secrets to getting their attention. This is how you launch ANY presentation any time you’re in front of people.

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Have you thought about how you start your presentations? Most of the time, we just get in front of people and say whatever we think of first. That leads to some big presentation mistakes, and costs us ‘sales’. Instead of stumbling through a presentation, why not organize it to grab their attention, persuade them to your way of thinking, and motivate them to action? You can.

In my resource, Knock Their Socks Off: Tips to Make Your Best Presentation Ever, I show a simple three-step format to create your persuasive presentation. No matter why you’re in front of people, we need to be

persuasive

Think about it. Real estate salespeople: When you’re doing a listing presentation, what do you want to happen? You want them to sign the listing agreement when you’re done. So, it’s extremely important that you organize your listing presentation using a persuasive format, not just an information-heavy dialogue flow.

In this blog, we’ll discuss great openings–one of the 2 most important parts of any presentation.

Grab Their Attention in the Opening

Have you thought about your opening? Or, are you nervously standing at the sellers’ door, worried about what you’re going to say? Are you hiding in your office because you dread doing that sales meeting? When we haven’t organized our presentation, we come up with some really boring, off-putting openings, like:

I won’t take much of your time, but

We have a lot to cover today (boy, that sounds exciting and motivating, doesn’t it?)

We won’t get through the outline/presentation (then, why do we have that outline?)

I know you don’t want to listen, but

I’m not really prepared (this happens in many presentations in front of 2 or 2000!)

You just open your presentation book, point to the pretty pages, and say, “here’s a keybox” (I’m not kidding. I’ve seen it….)

Great openings, yes? Yet, we’ve heard them dozens of times. You don’t have to settle for whatever comes ‘naturally’. Instead, make your openings

Provocative

Interesting

Different

Engaging

Motivating

The First Two Minutes are Critical

Recently, I attended a Train the Trainer’ session (yes, I still learn great stuff every day!), where the trainer said it was important to engage the audience in a meaningful way in the first two minutes of your presentation. I think that’s a great rule to follow today, because people’s attention spans are the length of a gnat’s eyebrow. So, the next time you attend a presentation, see how much time elapses before the speaker/presenter/trainer gets the audience into meaningful action. I don’t mean to ask a rhetorical question, either!

Want many more presentation tips for your next meeting, listing or buyer presentation, or sales presentation? Check out Knock Their Socks Off: Tips to Make your Best Presentation Ever.

In the next blog, we’ll talk about the other 2 parts of the presentation, and how to make them sizzle, too.

What mistakes have you seen presenters make in their openings? Let me know.

What do you do to grab their attention and interest in the first two minutes?

Let Me Help Your Trainers Refine Their Skills

I help associations and companies help their trainers become masters, try new methods, keep their audiences, awake, and become more creative. Contact me and we’ll talk about how I can help you.

Categories buyer presentation, Experienced agent, listing presentation, Marketing, New Real Estate Agents, presentation skills, Real Estate Sales, Real Estate Success, Sales Strategies
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Business Planning: The Analysis Tools You’ll Need

by Carla Cross

November 19th, 2019

Throughout November and December, I’m focusing my blogs on business planning, so you have plenty of information to create a great plan. Look for checklists, processes, and systems--ready to use, too.

Agents, managers, and trainers: If you’ve been in the business any length of time, you know how much more challenging this business is than it used to be! Yet, most of the information we are still getting is about day-to-day selling and managing. However, we’ve learned that

we can’t just keep completing tasks and get ahead. We know that, after we’ve conquered sales and management basic skills, we still have a whole group of skills to master. Those are called ‘business skills’,

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and they require as much dedication to master as do those sales and managing skills. One business skill is we need is analyzing your business.

Why Business Analysis?

If we don’t know where we’ve been, how can we decide on best strategies for the next year?

Here are the tools you’ll need in your business planning toolkit:*

Time analysis (watch my next blog for a questionnaire to analyze your time management)
Business plan activity review
Expense/budget review
Profit and loss statement review

1. Your time analysis. Do you have the analysis tools to see where your business is, and where you want to take it? With a time analysis tool, you can see what your priorities are. It’s amazing how many agents and managers have no idea where they spend the bulk of their time. Look at your schedule for the last week. Did you spend time in the areas that are most productive for you? If not, why not?

2. Business plan activity review tool. This allows you to capture the history of your business in a way that clarifies your direction. For example, does the tool you use ask you where you got your business last year? Does it ask you the percent of your listings you sold in normal market time? Managers, does your tool ask you the numbers of agents you interviewed, and your conversion rate? Find the tools that ask you the right questions.

3. The expense and budget review. How many agents have a budget? How many managers and owners? All businesspeople set budgets and review them. After all, it’s about profitability in a business, not productivity! At best, you want to use tools that are similar to the ones used by others at the same business level as you, so you can analyze like problems and solutions.

4. The profit and loss statement review. How many agents do you think have a profit and loss statement—and review it? I believe, less than 5%. Yet, if you don’t know where your money went, you can’t analyze its effectiveness. Use Quicken or Quickbooks to get a handle on your money.

Analyzing your business in these four areas gives you a great ‘handle’ on your business habits, your strengths, your challenges–and the areas you want to change for a more successful year next year.

*Grab All the Tools You’ll Need

All these analysis tools all in one place–my online business planning program, Beyond the Basics of Business Planning. Take a look here.

Categories Business Plan, New Real Estate Agents, Real Estate Success, Sales Strategies, time management
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Polish your Trust Level to Platinum

by Carla Cross

October 31st, 2019

Polish your trust level to platinum!

We salespeople can’t sell anything to anyone without first establishing an exceptional level of trust–an increasingly difficult thing to do.

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The ten tips I shared on in a recent radio show can help sales professionals build a ‘platinum level’ of trust.

The Ten Tips

1. Learn non-verbal skills and apply them in writing, on the phone, and in person to establish rapport in an increasingly ‘cold inquiry’ world.

Tip: How fast do you talk? Pace your speech to your potential client (at the beginning of the relationship). You’ll establish rapport. For more on pacing, mirroring, and much more, see a book on this fascinating look at communication: For example see this book: Neuro-Linguistics.

2. We believe what others say about a salesperson, not what the salesperson says about themselves. Use testimonials; check evaluation websites to see what consumers are saying about you.

Tip: Do an evaluation after each of your closings. You’ll get the good, the bad, and the ugly–and wonderful testimonials!

Check out www.realestateratingz.com and www.incredibleagents.com.

3. Create an after-the-sale survey and use it consistently. If there’s something wrong, fix it fast.

4. We believe what we see, not what we hear. Show, don’t tell. Use visual presentations consistently.

Tip: Are you still talking through your presentations? Studies show we remember 65% when we see and hear it, but only 10% when we only hear it.

5. Flip your sales presentations. Ask questions—lots of questions—first. Educate. Finally, sell (well, you won’t have to sell if you’re a great questioner).

6. Tell the truth attractively. Show evidence. Don’t try to scare the client into action by predicting the future.

7. Evaluate the client for long-term relationships. Is the client someone you want to add to your ‘tribe’?

8. Use ‘tough love’ with a client to tell the truth. Be brave enough to turn down a client—to stay true to your values. Do what’s best for the client.

9. Re-cap. Regularly, stop and re-cap with the client. Do this, too, when you can’t meet client expectations.

Tip: We leave out ‘review’, both in our presentations and in our teaching. Don’t dump the whole load!!!!

10. Book of Greatness: Don’t brag about yourself in the middle of a presentation. Create a ‘Book of Greatness’ to use in your pre-first visit so your clients get to know you and your approach to sales.

How do you stack up on this list of 10 ‘platinum’ trust makers?

Assistance in Marketing Yourself Attractively

I’ve created an online tool to help you create effective marketing strategies. Included is a section on creating that Book of Greatness. Check out Marketing You here.

Categories Coaching, customer service, New Real Estate Agents, Real Estate Sales, Real Estate Success, Sales Strategies, Training
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New Agents Speak Out: What Works–What to Avoid

by Carla Cross

September 12th, 2019

Want the ‘real skinny’ on succeeding in real estate? Read what successful newer agents say to do–and what to avoid.

In the latest edition of Up and Running in 30 Days, the new agent’s business start-up plan, I’ve put lots of updates including advice from successful newer agents. Rather than my trying to convince you of these principles myself, here’s what they’ve said:

On Training

Here’s a quote from Kyle Kovats, who was chosen as one of the finalists for the “30 under 30” honors from the National Association of Realtors. These select nominations are agents chosen because they are under 30 and very successful in the business.

Kyle advises: “Find a broker who has a comprehensive training program. Ask if you can speak with agents who have gone through it to get the agents’ perspective on whether it was helpful.”

{Note: Up and Running in 30 Days has tips for you new agents in choosing the right training program—a training program that actually assures you launch a great career).

The Importance of Coaches and Mentors

There’s a lot more to success than just attending even a great training program. Read this from Merrilee Prochaska, “I wish I had understood the importance of a mentor/coach before I began.”

{Up and Running in 30 Days discusses the trend toward coaches, and provides guidance in choosing the right coach for you.}

On What They Wish They’d Done Differently

It’s not all a smooth ride to success! Here are some comments successful agents on what they wish they had done differently

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. From Cerise Paton: “Followed up more and more consistently; understood the time and discipline and numbers needed for lead generation and lead conversion; recognizing the time it took to build trust; going on more appointments, failing more often, and getting better, practicing presentations with friends”.

Gary Richter’s comment on what he would do differently could apply to most new agents: “Contact all of my sphere and ask for business.” Gary admits he was reticent to ask them all for business.

On Prioritizing Your Activities and Lead Generation Sources

Don’t take my word for it that clearly prioritizing your activities as business-producing or business-supporting is key to success. Hear it from Gary Richter, who used Up and Running in 30 Days to start his career. He says his priorities are big reasons he’s succeeding now: “I am cognizant of my daily activities and recognized them as either business producing or business supporting. I spend the majority of my time on business-producing activities.”

And, Diane Honeycutt states, “Take the advice in this plan and be sure you’re not a ‘secret agent’! Develop a work plan and stick to it”.

Here’s what Kyle Kovats, that great ’30 under 30’ nominee, said: “Get out there and just do it. Try different forms of prospecting and see what works. An ounce of action is more powerful than a ton of planning.”

Gary Richter advises: “Get off your computer and go out into the areas. Focus on business-producing activities.”

More great advice from Kyle Kovats: “Be relentless. Follow up with handwritten letters rather than the generic form letters/cards most agents send people. Be unique.”

On the Importance of Client Relationship Management Technology

When I asked those agent and manager contributors the technology new agents should incorporate, here’s what they said:

“CRM and lead management tools”—Diane Honeycutt

“A really good and easy-to-use CRM”—Cerise Paton

“A good CRM”—Chris Cross

So, don’t be like the majority of new agents (and even seasoned agents who put off capturing all those leads in a database and then, even better a CRM!) Start using a database, or better yet, a CRM your first week in the business.

On Spending Money for Leads

Here’s some advice from one of those Top 30 Under 30 finalists, James Pierce: “Don’t pay a dime to sites like Zillow, etc.”

From Cerise Paton: “You will get a lot of calls to sell you leads, google placement, banner ads, shopping carts, you name it. Don’t do it. It either has no value, or you’re not ready for it, or you can’t afford it”

Tip for managers: As you read these comments, ask yourself, “How is my training, coaching, and business start-up plan keeping my new agents on track?” What needs to be changed or refined so I get better results?”

How about YOU?

Are you following these principles? How many have you rejected or violated in your first few months in the business? Why? Success isn’t always easy, but it always has patterns and leaves clues! Don’t try and re-invent the wheel. Follow a proven plan with assured results and you will be wildly successful!

Take a look at what’s in Up and Running in 30 Days: updates in 5th edition. If you’re not reaching your goals as a newer agent (or want to re-start your career), you NEED this detailed start-up plan–chock full of advice that’s up-to-date. only $32.95 plus shipping–and invaluable to your career success. Click here for more information and to order.

I’ve got a bonus, too, for you this month: You’ll also receive my ‘little book of Big Ideas--inspiration and motivation to keep going to success!

Do You Know the 10 Dumbest Things New Agents Do? Here’s My List….

by Carla Cross

August 22nd, 2019

Do you know the 10 dumbest things new agents do? Here’s my first five. What are yours?

We all want success easily. We all want to ‘do it our way’. And, if we’re honest, in our quest for easy success, we’ll all done dumb things. That is, we realized they were dumb–after the fact. So, just because I’m picking on new agents here doesn’t mean I haven’t done many more than just ten dumb things! I’m listing these here, though, to help you avoid the mistakes I made as a new agent, and the mistakes I’ve observed thousands of new agents make over the years I’ve managed, trained and coached.

Some Mistakes Cost More than Others

Some dumb actions don’t cost us much, but, when an agent fails, it costs money to everyone–agents, offices, and consumers. It’s estimated that it costs a manager $15,000-30,000 for every agent hired who fails! So, that agent isn’t a profit-center, she’s a cost center! In addition, an agent who fails spends at least $5000-15,000 just in ‘subsidized living’ and real estate expenses the first three months in the business. Finally, the consumer loses, because the agent is out of the business before serving the consumer (or in the midst of trying to serve the consumer).

Heads Up

New agents don’t come into the business to fail. But, they don’t realize the effort and skill it takes to succeed. In addition, there are increasingly difficult challenges for new agents:

1. The gap between consumer expectations and agent performance is widening quickly and dramatically. New agents must have better training, coaching, and commitment from their brokers.
2. The market is softening, so agents can’t get those ‘dumb luck’ first easy sales.
3. The committed, career-oriented agent is taking much more of the market share.
It’s estimated that 50% of new agents fail and get out of the business in their first year, and 75% are out in two years. That seems to me a huge waste of resources-and a huge contributor to that expectations gap I listed above. We need to stop that attrition now.

So, new agents, I’ve created a list of the ten dumbest things I’ve seen thousands do to fail themselves right out of the business. In this blog, we’ll investigate the first five:

The First Five ‘Dumbest’

1. Thinking that there are lots of ways to start the business. There aren’t. Real estate sales is sales, and sales is a numbers game. (Up and Running in Real Estate shows you exactly how to work those numbers to your benefit).
2. Thinking they don’t have to lead generate, because they’ll “do it differently.” Rejecting proactive lead generation (talking to people consistently and in great numbers) and you’ll be flipping burgers before you know it! (Not that there is anything wrong in flipping burgers, but you won’t be “selling real estate”.)
3. Thinking that their manager or office or the Internet will supply them leads. If that were the case, your commissions would be much smaller.
4. Thinking that this business is about tasks and technology. It’s not. It’s about people relationships. Technology is there to support relationships.
5. Treating the business like a ‘next’ business. It’s not about finding and selling a customer. It’s about finding and keeping the customer for long-term referral business.

How many of these dumb things have you done? In truth, we learn from our mistakes. It’s not what we do wrong. It’s what we continue doing wrong. I created Up and Running in Real Estate to cut your ‘mistake time’!

Categories 5th Edition Up and Running in 30 Days, action plan, attitude, Business Plan, Coaching, CRM, database, new agent business plan, New Real Estate Agents, Real estate as a career, Real Estate Sales, Real Estate Success, Sales Strategies, Up and Running in 30 Days, Up and Running in Real Estate
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Has Your Manager Shared His/Her Expectations with You?

by Carla Cross

July 3rd, 2019

Has your manager shared his/her expectations with you?

A survey I did a few years ago of 155 new agents revealed some compelling facts. For example, most agents coming into the business today as ‘full-time’ careerists have high expectations. 92% of the new agents surveyed expected to make more than the median income of all Realtors. The most stunning statistic, though, from these new agents, was that 65% expected incomes in the $31,000 to 75,000 range–their first year in the business! This survey of new agents was done to gather research for Carla Cross’s book, What They Don’t Teach You in Pre-License School.

New agents need to be focused on business development—not training

Another stunning finding from the research was that 62% of the new agents expected to get a check in their first sixty days in the business! They expect to hit the ground running.

To do this, the new agent’s focus needs to be on business development, not on training. Normally, companies put the new agent into a ‘curriculum based’ program to tell them everything they’ll ever need to know about real estate. Unfortunately, the new agent thinks that all that knowledge equals success in real estate. That’s wrong.

Creating Success, not Useless Knowledge

New agents create early success when they focus on a business start-up plan that contained heavy business-producing activities. If you’re a new agent, you have to develop the mental toughness to ignore information that’s not critical to your business production. If you don’t, your money will run out before you learn everything! (Give it up; you’ll never know everything!)

Your expectations may vary from your manager’s expectations of you.

If the new agent expects high earnings fast, what did his manager expect from him? Most of the new agent respondents from the survey didn’t know. They hadn’t asked, and the manager, in the interview, had not volunteered to share any management expectations.

No News is Good News?

71% of the respondents didn’t know even the minimum expectations of their managers–the minimum production standards they would have to meet to have their contracts renewed the second year (or to be retained during any start-up period). To assure that the new agent and manager see ‘eye to eye’, both parties need to agree on mutual expectations in writing prior to hiring on.

Not only getting the ‘what’ in writing, but the ‘how’. Even agreeing on minimum activity and production standards doesn’t assure that the new agent will meet his goals with the full support of his/her manager. The new agent needs to see the ‘how’—exactly how that manager will coach the new agent to quick success. If you’re a new agent, you need to see the exact business activity plan* that you will be coached to. You also need proof that the plan has worked with others in the past to deliver the results you expect of yourself your first month, quarter, and year in the business.

Matching expectations assures no surprises and gets planned results. Take the wishing out of business expectations. Both new agent and manager need to get expectations in writing, agree on a business start-up plan, and start working together with mutual accountability to partner in great results. Your manager must be accountable to coaching you on a regular basis with a proven business start-up plan. You, the new agent, must be accountable to do the activities in the plan. Together, you will achieve your mutual goals.

Here’s the right combination of knowledge, skill and ACTION to get a sale in eight weeks–or get really close! If you’re not experiencing the success you expected, why not give yourself the gift of this proven business start-up plan? You’ll reach those goals and establish life-long business habits to ever greater success! Check it out **here!**

Categories 5th Edition Up and Running in 30 Days, accountability, action plan, Business Plan, Coaching, creative training methods, lead generation, new agent business plan, New Real Estate Agents, Real estate as a career, Sales Strategies, Training, Up and Running in Real Estate, What They Don't Teach You in PreLicense School
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