Are you a New Agent, Newer Agent, Feel like a new agent, Struggling Agent, or Returning Agent? If you are any of the above, or just FEEL like you are, this plan is designed to fast forward you into PROFIT. This is also great for team leaders and brokers who are wondering what to do with new or wayward agents!
New or newer agents, as well as agents ‘returning’ to the business after some time, are probably feeling a bit of an experience deficiency. You may feel any of the following:
- I don’t know where to start.
- I don’t know how to ______fill in the blank_____.
- Technology / social media / has passed me by.
- What is normal business practice?
- How long should this take?
- Where does business actually come from?
- How can I make money now when I don’t even know what I’m doing yet / any more?
Knowledge = Confidence and Ignorance = Fear, so this plan gets you into knowledge as quickly as possible!
16 Point Massive Action Plan!
1 Complete your required, post-licensing CE credit before it’s too late. If you haven’t done it yet, schedule it so it’s one less thing to worry about.
2 Take an MLS class at your local board. Every MLS system is more robust and has much more functionality than you learn from your broker or manager. This will help you with your Comparative Market Analysis research as well as searches for property for buyers.
3 Take a contracts class from your Board of Realtors or from your Brokerage. It’s not worth risking your new license over rookie mistakes.
4 Attend a Buyer closing. Take notes and ask questions after buyer leaves.
5 Attend a Seller closing. Take notes and ask questions after seller leaves.
6 Attend a buyer’s loan application. Ask lender for the checklist buyers are given prior to the loan application. What’s required to complete the process?
7 Tour 10 homes in each price segment of your market, from lowest to highest.
8 Use your MLS to figure out which zip codes in your county or city are selling the fastest, the most volume.
9 Tour new construction if your area has it. You will not find this in your MLS. Look in your local paper or search online. Tour all price ranges and keep a New Construction File so you know who’s building what and where.
10 Listen to ‘Visual Accountability and White Boards’ and do the homework.
11 Listen to ’18 Relentless Lead Follow Up Rules’ and do the homework.
12 Decide which 3 Lead Generation Spokes you will pursue first. Listen to all coaching, scripts and podcasts on those topics.
13 Complete your Pre-Listing Package after listening to all of the coaching in that section. Your PLP gives you wings. Operating without it will keep you nervous, unwilling to prospect and afraid of moving forward. It’s your choice.
14 Complete your Real Estate Treasure Map for your Big Picture plan. -or-
15 Follow the Survival Plan short term, 60 to 90 days, until you have at least 3 pending transactions, then convert to your Treasure Map or the 90 Day Massive Action Plan.
16 Set up 3 bank accounts. 1 for operations (you pay your business bills from this), 1 for savings (save at least 5% from every check), and 1 for taxes (save 20% off every check). Remember that 25% of your net commission is set aside for taxes and savings. Don’t start out by getting behind!
Rules of this Plan
1 Don’t skip steps. Each and every step in this plan is designed to get you into knowledge and out of ignorance. Each step is both practical and applicable. You can do 100% of these items without spending much money. (Your CE class and training classes might cost something but aside from that, this is inexpensive education!)
2 Don’t listen to any agents, coaches, trainers, brokers or advisors who aren’t at least as successful as you intend to be. They are not authorized to advise you. Everyone will be trying to give you advice! Many will try to convince you that you’re not supposed to make any real income for at least a year. Don’t buy it. Their advice is influenced by their own experience, which may or may not have anything to do with you, your motivation, your action plan, your education or mindset. Insulate yourself from opinions.
3 Do take massive action daily. Spend 75% of your day in lead generation, 10% on education and 15% on actual appointments. Most agents spend the majority of the day getting ready to get started to possibly take action at a later date. Your #1 job in real estate is to generate leads. Nothing else matters if you are lead-less.
4 Don’t spend money you don’t have. Make the pledge to keep unnecessary, unproven, speculative items off of your credit cards. The following 4 black holes of expenditure are off limits to you.
- buying leads
5 Do make sure you’re with the right broker. It’s disruptive and costly to move brokerages, especially multiple times. Interview with several, understand their benefits, market share, reputation, commission schedule and culture. Make an informed decision and stick with it for at least a year. If you do have to make a switch, do it between Christmas and New Year’s to minimize disruption to your cashflow and momentum.
6 Do tune in to our Podcasts daily: www.RealEstateCoachingRadio.com We will be your primary ‘master mind’, advisor, educator and advocate.