I attended a Top Producer Panel hosted by the Orange County Young Professionals Network yesterday. Some of my favorites were on the panel:
Dave Knight Real Estate Team
TNG Real Estate
Moderated by Eric Wu (Excelerate Capital)
Starting a real estate career can be very exciting and highly lucrative. But it can also be extremely challenging.
What does it take to be successful?
Here’s some advice from last night’s panel:
1. Be YOU
As a service professional, YOU are a major differentiator. Be yourself. Be authentic. Ask probing questions and have the patience to listen intently.
The single biggest result that you get your clients is the same result as your competitors. You’re helping people buy and sell real estate.
Be you. Don’t try to be someone you’re not.
2. Talk To People
When April got her license people told her “make sure you have some savings put aside, you’re not going to close your first sale for at least 6 months.”
She signed her first listing her first week as a licensed real estate professional. Then she went on to close 16 listings her first year in real estate.
Needless to say, that’s impressive!
How did she do it?
By talking to people. Every day, she makes it a goal to speak to at least 20 people. “Who do you know that’s looking to buy, sell, or invest in real estate?”
It’s the first thing she does every morning from 9am – 12pm, without fail.
If you’re not talking to people, connecting, and asking for the sale, you’re not going to be successful in this business.
3. Do the Work
Matt has 3 coaches. A Real Estate Coach, a Business Coach, and a Leadership Coach. It keeps him focus. It keeps him in check. And they hold him accountable to executing day-in and day-out.
You HAVE to do the work.
He knows what his December 31st looks like every year. In other words, he knows his year end sales goal and numbers. And every day he focuses on executing the things he has to do to get closer and closer to his goal.
When you’re committed to excellence and an successful career in real estate, you’ve got to do the work. You’ve got to get your hours in.
Sure, it might mean a 60 – 70 hour week today so that you can enjoy that 20 hour work week later.
You can half-ass it – and close 3 – 4 transactions a year. Or you can be dedicated and close 16 transactions your first year – just like April did.
4. Ask for the Business At Least 10x’s or More
You’re not going to get the sale if you don’t ask for it. This is true of real estate and any other profession, really.
Don’t be afraid to ask for their business. Not just once, but multiple times.
5. The Money Is In the Follow Up
You HAVE to follow up. Because the money is in the follow up.
MIT did a research study that found “6X’s Equals Success.” Meaning your chances of conversion on a lead increase dramatically on the 6th follow up attempt.
So yes, speed-to-lead is important, but so is following up more than once.
6. Define Your Distractions
Define your distractions so that you can get rid of them.
Know what your distractions are, acknowledge them, and then put them aside so you can do the work (see #3).
7. Objections Reveal Deeper Emotions
You’re a consultant. It’s your job to help sellers sell their home for as much money as possible in as little time as possible, while taking the stress away out of the whole process.
With buyers, you’re helping them through the biggest investment they’ll ever make in their lifetime.
Learn to ask questions. Ask the tough questions. Then, listen intently.
Practice your scripts and learn how to handle objections. Objections just reveal deeper emotions.