87% failure ratio! That’s how many people end up quitting real estate in their first 18 months. While that ratio looks higher than normal, other sales industries, entrepreneurs, restaurants all show similar or higher percentages of failure.
Let’s focus on the other 13%.
13 people out of every 100 who get their real estate license manage to stay in the business and about 20% of them (2-3 people out of 100) manage to become top producers. So who are these top producers and how do they manage to achieve success?
Here is what our research shows about The top producers. Top producing Realtors all around the world are focused on getting listings in a consistent matter, driving a predictable and profitable business:
These top producers do very well in a competitive environment
They strive to be the best in what they do and they constantly focus on growing
They are consistent because they understand the power of consistency
They are persistent and they never quit a process until it’s completed
They seek to improve and learn new ways to grow their production (following other successful agents)
They do not try to reinvent the wheel
They don’t let their ego stand in their way
They don’t allow their emotions to control their behavior
They are driven by a strong sense of purpose in life
They follow a specific schedule built to produce appointments. It’s called: Prospecting.
They practice scripts and dialogs until they perfect their language and able to turn leads into appointments
They handle objections with ease because they practice handling objections on a daily basis
They attend training and coaching events on a regular basis (at least once a quarter)
They understand accountability and seek it in everything they do, therefore they hire someone to hold them accountable (a coach).
They seem to work with qualified leads therefore they prequalify every person they work with
They have a predictable way to consistently produce motivated leads
They follow a scripted (canned) Presentation
They are coachable
They wake up early (before the sunrise)
They exercise before they begin their day
They do some form of prayer/meditation/visualization
They understand the power of knowledge therefore they focus on becoming a market pricing expert by previewing properties everyday
They follow a business plan
They don’t jump to attend emergencies, they manage their time according to what’s important for their business (A Activities include: prospecting, Lead follow up, Prequalifying, Listing Presentations, negotiating contracts, previewing properties, practicing scripts and dialogs)
They stay away from negativity and negative people
They surround themselves with positive and successful people
They make time for family, friends and fun
They work 6 days a weeek and completely disconnect from the business on their off days
They delegate to other people the activities they shouldn’t spend time on
They study marketing and automation (how to automate all marketing efforts)
They seek ways to volunteer and help their comunity
They focus on helping others
They give minimum 10% to charity
They manage their money and invest in income producing assets (stocks, real estate, businesses)
They are highly disciplined and focused
If you seek to grow your production, I suggest you to read this list and make sure you improve yourself according to the list and strive to rate yourself at 10 on all these points.
Going from 5 deals to 25 deals will happen naturally to those who shift their mindset from working any leads to working qualified leads, shift the mind from waiting for leads to producing leads through prospecting. I can almost say with 100% conviction that those who do not engage in daily prospecting (Phone or door knocking) will always find themselves begging for business and struggle to make a living. On the other hand, those who choose to prospect daily and make a minimum of 30 contacts a day (6 days a week), will never do less than 25 deals a year. It’s that simple.
Decide now that you’ll start behaving like a top producer, follow the points I mentioned in this post for a minimum of 36 months and you will SURELY become a top producer.
On January 31st (2018) I will start a monthly mastermind coaching group. We will meet once a month at Circle100 real estate brokerage in Downtown Providence (244 Weybosset st, 2nd floor). I will welcome anyone who wish to become a top producer and participate in the group accountability program. There is no cost so you don’t need to worry about any sales gimics. If you wish to partake you will obviously need to commit yourself to the process and show up to all the meetings in 2018. We will meet every 5 weeks (approximately) for 1-2 hours and then set you up for group accountability.