Over nearly a decade of studying Realtors and business owners’ habits one thing that continues to seem evident is that most of us end up in an up and down cycle of motivation which usually coincides with our business success going up and down. The reality is that motivation is not an endless supply for anyone. Even the most successful business owners have bouts with low motivation levels. Think of motivation as an energy bar on a video game, when it is high you are going to be operating at your peak performance, but when it falls low you (just like the video game character) slow down and become less effective at everything you do. So a truly successful business owner that lasts the test of time and begins to have less dramatic swings up or down with their business must properly plan to combat these “ruts”.
First you have to have a plan for your business. A goal without a PLAN is just a wish. If you are writing your goals down fantastic, you are maybe one small step ahead of the person who did not write them down, but you are still far from success. All too often we set goals for ourselves, but never really break these goals down into what we actually have to DO on a daily basis to succeed. If someone told you that they wanted to lose 50lbs this year, you would consider that a very large goal (and task). What if the same person told you that they were going to lose only 1lb this week? You would likely think to yourself, “so what, just skip a meal!” Well 52 weeks of losing 1lb a week equals 52lbs lost in a year. Now all you have to do is make sure every single week you are able to hit your smaller 1lb goal which over time will keep adding up to conquer your much bigger, hard to believe goal (of 50lbs). I call this “Winning The Week.”
Second when motivation begins to fall or when you get too busy to keep track of everything in your life, you have to fall back on systems and habits. You need to set aside part of your day to lead generate. If you do not lead generate every day you are going to eventually end up with giant business swings. Think about the 80/20 rule. 80% of what you do produces 20% of your results. 20% of what you do produces 80% of your results. In real estate your lead generation is the 20% that produces 80% of your results! In the spring and summer months Realtors feel busy sending searches to clients from the MLS, showing properties, doing photo tours, etc and that is fantastic, but most of these Realtors also forget to lead generate. They are working IN their business not ON their business. Real estate transactions lag in closing time and leads take time to become active. Therefore, after the busy time of year during the spring and summer months dies out, then the Realtor that does not lead generate falls into hard times with little to no business. This then causes them to get scared and begin prospecting hard again which leads to future business where the same cycle of up and down persists. So remember even when you are busy you have to work ON your business not just IN your business.
Lastly, this is a marathon not a sprint. All too often I see the motivation, hope, and dreams of a relatively new Realtor get absolutely crushed because they have not become a top producer in their first or second year. The reality is you are not going to get there quickly. However, you are not in this business (hopefully) to win the first few years. You are hopefully in it to build a long lasting career that improves year after year. The old adage, “Rome was not build over night”, well neither was any successful business. Business ownership and especially being a Realtor is not like a regular job. In a regular job when you work really, really hard and stay over-time, you usually get some sort of reward (either monetary in over-time pay or acknowledgment from a superior for your work) immediately. I have heard so many Realtors that are doing the right things say “oh this is not working for me” when in fact it is working for them but takes time for their marketing efforts to get noticed and responded to. Remember when you are marketing that not everyone needs your services RIGHT NOW, but they may in the future. Giving up on trying because you are not seeing instant results is the kiss of death for any business. Take your time, learn as much as you can from your mentors, and trust that if you work hard for a long time while applying what you learned that success is inevitable.
If you are an agent and have any questions about your own specific real estate goals, how to get out of a rut, or how to break down your individual goal into your weekly goals please feel free to reach out to me for a no strings attached one on one coaching and training session. I would love to help you achieve and exceed your goals.
CONTACT MO DADKHAH AT Mo@mainstreetreg.com OR 847.431.6222.
Good luck and remember PLAN, LEAD GENERATE, and BE PATIENT.