Top 5 Reasons Agents Fail At Real Estate by Damon Eddy

Top 5 Reasons Agents Fail At Real Estate by Damon Eddy

TOP S REASONS AGENTS FAIL AT REAL ESTATE

Top 5 Reasons Agents Fail at Real Estate

1. THE FIRST WAY TO FAIL IN REAL ESTATE IS TO… Wake up. Start work. And react to events all day long without any real plan or purpose to follow…

And that's what average realtors do. But what do the top producers do? They wake up and invest the first hour of each day into income-generating, lead- producing activities. And then, of course, the rest of the day resumes to chaos as usual. :-) But it doesn't matter, because a top producer will have protected their first hour... Here's a tip to start the hour off: In general, the highest dollar per hour activity is to call five past clients each day, check in, and at the end of your conversation, ask them for referrals. If done correctly, every fifth call should net you at least 1 hot referral.

2. THE SECOND WAY TO FAIL IN REAL ESTATE IS…

To only have sloppy (and inconsistent) follow up with ALL clients. Top trainer and respected guru Brian Tracy has said, 'The fortune is in the follow up.' And that's what average Realtors DON'T do. But what do realtors who make a fortune do? They follow up, consistently. Want an example of just one top producer I know? Here's how a top producer follows up on a hot referral from her past client:  Day 1 - Calls referral, doesn't answer, leaves voicemail  Day 2 - Searches referral and adds as friend on Facebook  Day 4 - Calls to re-connect, referral answers, realtor gets 90-day timeline before ready to buy  Day 4 - Realtor sets 85-day reminder in her calendar

Damon Eddy | Keller Williams 1st Realty Associates CEO \ Team Leader [email protected] | 720.231.1646 606 Mountain View Ave. Longmont, CO 80501

 Day 85 - Private messages on Facebook  Day 90 - Sale made Remember... the fortune is in the follow up!

3. THE THIRD WAY TO FAIL IN REAL ESTATE IS TO… Inconsistently (or never) ask for referrals. The NAR has stated that 80 percent or more of all real estate transactions are by referral. Yet what does the average realtor do? They spend more time prospecting for a new lead than they do asking a past client for referrals. With some basic math skills, you'll find that one hour invested in result-producing referral hunting (80 percent of business) will get you four times the results than one hour invested in the time-wasting task of new lead fishing (20 percent of business). Want the top producer’s secret to four times the results when prospecting? Start connecting with past clients and asking for referrals. If you find asking for referrals on the phone a tad uncomfortable, try this:  Find your past five deals.  Message them on Facebook.  See how they are doing.  And then remind them to think of you for referrals. 4. THE FOURTH WAY TO FAIL IN REAL ESTATE IS TO… Not seek out a support system to help them grow. Often realtors get into an up-and-down cycle that creates hardships and struggle during the down times. This is how that typically looks:  You lead generate and work on getting referrals, then you start to take buyers out to look for homes and list a couple houses.  Soon, though, you get buried by the day-to-day tasks to accomplish the deals you have in the pipeline.  You get so busy working in the business that you don’t have any way to work on your business and get ahead of the game.  You then end up back at step one, trying to win clients after the deals have closed, and it’s a hard process to go through.

Damon Eddy | Keller Williams 1st Realty Associates CEO \ Team Leader [email protected] | 720.231.1646 606 Mountain View Ave. Longmont, CO 80501

This is the average realtor’s path. It can lead to burnout and, without any support and mentors to help, it can be a quick way to end your real estate career. But what do top producers do? They seek out support and mentorships from those who have made the industry work for them. They look to those who have perfected their marketing strategies and created a systematic approach. They look to those who have mastered social media and traditional client outreach because they understand customer service is a critical aspect of real estate. They look to those who are eager to share their journey to success and show others the way, no matter what level of success they have reached themselves. 5. THE FIFTH WAY TO FAIL IN REAL ESTATE IS TO… Not take advantage of the amazing opportunities that currently exist in their market. These opportunities are typically in the form of earning more commission dollars from other agents, joining a growing team, learning from top-producing agents that have gone from zero to millions in production. Having direct access to training, support and proven marketing systems that help you to take full control of the market is more than possible... It’s a reality today. To thrive with a successful real estate business in just a matter of months, not years, you just have one choice to make. Are you comfortable as an average realtor? Or are you ready to take the road of a top producer? If you are interested in learning how to take your real estate business to the next level, then schedule a time to talk with us by clicking here:

Damon Eddy | Keller Williams 1st Realty Associates CEO \ Team Leader [email protected] | 720.231.1646 606 Mountain View Ave. Longmont, CO 80501

Keller Williams

KellerWilliams

Twenty Questions Who you are in business with matters – how they treat you is critical to your success. Here are 20 important questions to ask about the real estate company or franchise system you are currently with, or considering joining: 1. Does the company allow you to build your own agent brand? Can you put your own logo, name, phone number and website on yard signs and in your ads? Can it be larger than or as prominent as the company’s? 2. Does the company allow you to directly receive the sign calls or inquiries on your own listings without going through the up-desk or office switchboard? 3. When a person is seeking you on the company’s local or national website, can they quickly (within two or three clicks) get directly to you, your own website and your own business phone number? 4. Can you do agent-to-agent referrals without going through the company’s relocation division and paying them a portion of your referral fee? 5. If you decide to leave the company do they let you take your listings with you? Do they still pay you the same commissions you were owed on your pending transactions - without any penalties or reduction in splits? 6. Does the company seek your input and advice on important financial and policy decisions? Do you have a say in what goes on? 7. If you are a top producing agent do you get to serve on a council that discusses and votes on company changes in policy and fees? 8. Does the company open its books and allow you to see and review monthly financial records – such as Profit & Loss statements? 9. Does the company offer you an opportunity to share in its profits? Is the profit sharing amount greater than 30% of the company’s net income? 10. Do you have the opportunity to earn residual income from the company that will continue even after you leave the company or retire? 11. Does the company cap the money you pay it on an annual basis (Company Dollar), so that you do not have to keep paying them on all your production?

We work for you!

Keller Williams

KellerWilliams

12. If you are affiliated with a National Franchise, do they cap your royalties (or service fees) annually, so that you don’t have to keep paying them a portion of all your commissions? 13. Does the company allow you to earn 100% commissions without having to pay monthly fees even when you don’t have closings? 14. Does the company provide a way for you to actually earn more than 100% - to be paid more by the company than it costs you to be with them? 15. Does the company provide all levels of sales and business training – from the fundamentals of real estate sales all the way up to hiring staff, building a team, managing your expenses and creating a business? 16. Does the company provide wealth-building information and training? Do they give you good advice and consulting on how to gain financial independence? 17. Do the leaders of the company take the time and make the effort to share with you research, strategies and systems that you can use to improve your business and your career? 18. Have the leaders of the company written best selling books that are used and respected in the real estate industry? Do they speak with knowledge and authority on the issues that matter to the agents? 19. Does the company have a set of written beliefs and values that it shares and sincerely seeks to live by? Does the company have a spirit and culture of teamwork and positive energy? 20. Is the company clearly agent-centered? Does it understand that the consumer selects the agent, not the company? Does that awareness show up in the way the company does business? The answers to these questions may help you understand which company you want to be with – which one will provide the most support for achieving your own personal and professional goals. The interesting thing is this: at Keller Williams Realty the answer to everyone one of these 20 questions is YES!

We work for you!