Is it possible to be outrageously successful starting NOW? It IS, but only when you follow these 15 Rules of Success. Take the guesswork out of real estate and drill down on what matters most. Whether you’re experienced, grizzled, new or newer, or just feeling stuck, these 15 rules apply to you!
Welcome back to America’s #1 Daily Podcast, featuring America’s #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? Visit: https://whylibertas.com/harris or text Tim directly at 512-758-0206
IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris’s Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://premiercoaching.com
First, the Facts:
*According to the National Association of Realtors, 87% of Realtors fail within their first 5 years.
*On the other hand, the top 1% of real estate agents in the US make over $500,000 in annual income, while the median income is $50,000. Keep in mind that it only takes, on average, about 5 sales per year to make $50,000. Most of you can do that by working part-time.
HUGE Announcement: You will love this! Looking for the full outline from today’s presentation? Our DAILY Newsletter featured lead generation systems, real estate scripts, daily success plans and (YES) the notes or today’s show. Best part? The newsletter is free! https://harrisrealestatedaily.com/
*20% of licensees make up 80% of closed real estate transactions. 20% of agents make more than $200,000 yearly.
The only question you should ask yourself is: which percentage will you be? Follow these 15 rules, which are not just for new agents but for all agents, and you’ll be in the top 10% or better. If you choose to wing it and just see how it goes, you’ll probably wind up in that first 87% who fail in 5 years or less.
REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris’s favorite PROBATE LEAD PROVIDER? Simple, alltheleads.com/harris
“If it’s meant to be, it’s up to me!” should be your daily, maybe hourly affirmation, starting right now.
PART ONE
1. Your Brokerage Matters. Choose your broker wisely if you’re newly licensed, or upgrade as soon as possible if you’re not happy where you are. It’s not just about commission splits. Does your broker offer stock awards, health insurance, daily education, and revenue share? It’s costly to start (or stay) with the wrong brokerage.
Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/
(EXP Paid over $240 million in revenue share and equity benefits last year, up 20% from the previous year.)
2. Commit to earning while you learn and be learning all the time. You don’t have to be perfect to be productive. You must take action from day one to build your skills quickly, and you have to make 5x the effort you think to get the results you’re looking for.
Note: The best people to role-play with are actual prospects with actual homes to sell.
3. Curate your sphere of influence and expand it daily. These are all the people you already know. They already know, love, and trust you, so they are almost always your first three to five transactions, and, when communicated with regularly, can be a steady stream of business reaching past those first several deals.
Always have some talking points about what’s happening in real estate.
-Your Board of Realtors Monthly Newsletter
-ListReports
-This Podcast!
-Housing wire
-Google Alerts for your local housing market news
Are rates going up or down? What’s going on with the new construction? How many days does it take to sell a home in your market? What types of mortgages are most attractive in today’s market? Provide value and be a problem-solver.
4. Understand what makes you money in real estate and spend 90% of your time on those activities: proactive lead generation, furiously fast lead follow-up, pre-qualifying using a proven script, presenting, negotiating, and closing.
Your most important skills are proactively generating leads, following up immediately, pre-qualifying, and presenting in a way that wins the business. Once you know the process, you can hire someone to process your transactions. When you get great at lead generation, the rest of the list takes care of itself!
Follow your Real Estate Treasure Map so you will know exactly how to develop the skills we just mentioned, create your dollar-productive daily schedule, and know exactly what to do daily.
“Your daily agenda determines the secret of your success.” -John Maxwell
5. Understand the Spokes in the Wheel model. Choose your lead generation spokes wisely and work them daily. Focus mainly on people who clearly have the desire to sell their homes and supplement with regular communication to your database. Here is our favorite list of spokes, which everyone can utilize. Don’t choose just one and be a one-spoke wonder; work multiple spokes to ensure your success!
– Sphere of Influence: These are the people in your database—friends, family, neighbors, etc. Who is becoming an empty nester? Relocating? Having another baby? Wanting to build? Considering buying a rental? Your database can be a goldmine when you communicate regularly.
– Open Houses: Absolutely hot lead generators in today’s market! One of the best things about having low inventory is how well open houses work.
– Unrepresented Owners (For Sale By Owners): They are handing you their phone number and already have a For Sale Sign in their yard. Most FSBOs give up after the second weekend if the home hasn’t sold. Most FSBOs are also buyers.
– Expired, older expired, withdrawn, and temporarily off-the-market listings.
– Targeted Door Knocking is for your buyers with specific needs.
– New build salespeople with resale leads that they do not list themselves.
6. Commit to profitability. Don’t blow your money on the three worst Bs: buying buyer leads, building your brand, or building a team. You don’t need to do any of those things to be successful or profitable. In fact, concentrating on those things can drive your profitability into the ground.
Are you constantly thinking about profitability? Are you tracking whether you’re on track, ahead, or behind, or just seeing how the year turns out?
7. Pay yourself first. 10% to your savings, 20% to your tax account, and the rest to your operations account. Save more if possible, right from the beginning! Do not mix these accounts, and don’t get behind on your taxes.
8. Don’t seek or take advice from unqualified, fake coaches. Free YouTube advice, Facebook surveys, and salespeople trying to sell you stuff don’t have your best interest at heart, and they don’t have the authority or experience to advise you.
