When we analyze an agent’s business, we have to look at the break down of their listing transactions versus buyer transactions. Better than 90% of agents do far more on the buyer side of the business than the listing side.
Once we understand and accept that fact, the question is why?
Who wouldn’t like to dramatically increase their inventory of listings? Most agents want to close more listings. When you compare the listing side versus the buyer side, a couple of questions come to mind.
- Which one is really more difficult?
- Is it easier to find a listing prospect or a buyer prospect?
It is far more challenging to find a listing prospect than a buyer prospect. Buyer prospects are relatively easy to find. That’s why most agents work with more buyers than sellers. They often take the leads that are presented to them and what are presented at a higher rate are buyers.
Who makes the most money in your marketplace – a great listing agent or a great buyer’s agent? Who has more time off with their family? You know that the answer in both cases, when done well, it is the listing agent.
In the final analysis, it’s more difficult to become a great listing agent because it requires more skill. There are in fact, a series of skills that must be mastered to become a great listing agent.
Discipline
To be a great listing agent requires more discipline. Nothing of consequence is ever accomplished without first developing and mastering the skill of discipline. Too many agents view discipline in a negative mindset. Discipline is really a positive skill and attribute.
Webster’s Dictionary defines discipline in a number of ways, but here are a few favorites:
“an activity, exercise, or regimen that develops or improves skill,” “behavior in accord with rules of conduct,” “to bring to a state of order and obedience by training and control.” All of these describe discipline as a behavior, act of will, or action. That’s exactly what discipline is in sales.
To be successful as a listing agent, we must be more disciplined in our prospecting, lead follow-up, sales process, and sales skills.
There will be many days when you won’t feel like doing what’s necessary to create the listings you need. It will be easier to give yourself a pass for the day. Discipline is the mindset and skill that will not allow that to happen.
Mastery of Scripts and Dialogues
Being able to deliver compelling arguments and reasons for a prospect’s need to meet with you or list with you separates the marginal performers from the Champion Performers. You must know exactly what to say in all situations. You also need to have the correct delivery, pauses, inflections in your voice, and persistence.
When your skills are at the Champion level, it will increase your focus. It will increase your intensity in the moment of competition.
Mastery skills will lead you to better preparation and ultimately to a better attitude. With a stronger attitude toward your expected success, you will be more prepared to weather the rejection that will come your way.
Control of Your Schedule
Maintaining your predetermined schedule leads to more business. The prospecting and lead follow up segment of your business is challenging enough for most agents. The vast majority of agents are trying to work those activities into their schedule somewhere only to find that at the end of the day, they haven’t completed them and now they’re too tired to do them regularly.
The only way to consistently secure listings is to prospect consistently. The only way prospecting can be done consistently is through time management and effective scheduling. There is no other way, so stop trying to find it or invent it.
Hard Work
Let’s clearly understand that becoming a great listing agent requires harder work than building your buyer business. However, the rewards of “Hard Work” are often a reward of more freedom and more money.
Too often, we select the easy path hoping we can avoid the more difficult trails to success. You’ll know you are on the road to success when things become more difficult. The road to success is up hill, not down hill.
Too often, we don’t listen to that little voice inside us that says, “If it sounds too good to be true, it probably is too good to be true.” Expect to work harder to become a great listing agent than you will to become a great buyer’s agent. The real question is, is it worth the effort?
Many Harris members find that hard work is indeed worth it, and their response is always the same: “there’s no question that being a great listing Agent is worth all the investment of time, effort, energy, practice, and skill development.”
What is your first step?
What do you need to do now?
How are you going to attack this problem?
Focus on the areas that really matter: discipline, sales skills, schedule, and hard work.
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