On a group coaching call last week, I had a client ask me a very good question. “What are five things that I can do right now to get a jump-start on the competition?”
I shared with him the following:
1) Keep working- I am aware at this time of the year many agents stop working which completely destroys momentum. This is a marathon and not a sprint. In this game, if you stop pushing, the whole train comes to a stop. By continuing to work (read, prospect) you are keep momentum alive so that way the first quarter is filled with contracts signed and closed deals.
2) Reduce all your inventory- With the marketplace shifting, reducing prices is paramount to moving inventory. This is simply a fact. I would propose that we are no longer at the top of a cycle… we are descending from that peak. Go through your entire inventory and anything you have had listed for three weeks to a month with showings and no offers needs a reduction. By reducing your inventory, you are creating an environment for lots of sales in the first quarter.
If you need a script/coaching on the price reduction conversation use this coupon to get my online class on price reductions.
3) Massive levels of lead follow up- As humans, we have a tendency to procrastinate. Sellers wait until after the holidays to put their homes on the market. The inventory in my geographic area goes up historically by 10-15% in January. Go down the list of all the leads you have spoken to in the 4th quarter of 2018 who have expressed an interest in selling and ask them two simple questions.
1. “Are you guys still interested in selling?”
2. “When can we meet so we can discuss how we can help you net the most possible quickly and efficiently?”
So by following steps 1-3, we are accomplishing the following:
· Maintaining momentum –it is easier to keep my commitments 100% of the time then it is 95% of the time.
· Selling inventory- reducing prices will lead to sales.
· Booking more appointments to replace the inventory that will sell due to the price reductions.
The next two action steps I shared with him have to do with planning and clarity.
“Without a vision the people will perish.”
1) Tie up loose ends- Sit down and complete projects that you have been thinking about in your business/ personal life that you perhaps started and never finished. An example from my personal experience is that I have recently purchased all the equipment to start hosting a podcast as a way to share content and add value. I also sat down and wrote down all the podcasts for the next 6 months (i.e. who I want to interview and what topics I want to cover).
2) Cast a vision for the future- A process that I have used for the last 8 years that has helped me tremendously to convince myself of who I am and what I am capable of is what I call casting a vision. I sit down quietly and ask myself what do I want the next 12 months to look like? What do I want to achieve and do in the 5 equities of my life (Spiritual, Relationship, Mental, Physical and Financial)? Once I have this vision firmly in place, I then commence to write it out daily by hand for the 365 days. Doing so allows me to keep that vision firmly in place and eventually overtime when coupled with massive levels of action, I begin to believe what I am writing. There is a saying that you will believe it when you see it. I have found that the opposite is true… you will see it when you believe it. Most people in life lack clarity and are not on mission or purpose. This process allows me to stay on purpose throughout the year.
Congratulations on a powerful 2018 and here’s to creating the best version of you in 2019!