In commercial real estate, most agents suffer degrees of distraction and confusion at some point in their real estate career. Usually, it is in the first year or so that this happens, and then it can and will usually reoccur at later times each year. Stay on top of the issue and do not let it impact your real estate life and career.
What is the problem? It is a common issue for agents, and above all else, it must be controlled if you want to move ahead. Fix the problem when you see or feel it happening, as it can derail your motivation and focus, then ultimately your results.
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Expect that ‘Stuff Happens’ in Real Estate and Then Control It
The fact of the matter is that ‘stuff happens’ each day and each week in commercial property that you cannot control. Some things are challenging and can take you away from the good things that you want to do. That ‘stuff’ can also take over you are thinking and impact your actions when you do not want that. When you recognise this fact, you can do something with it. Don’t let things control you each day; you can control what you do, think and react to in commercial property.
So, what do you recognise here in your real estate business? Understand that you cannot control all your working day or week; some things that happen are beyond your control and are not easy to fix or at best will take time. Given that we work in an industry based around people, real estate marketing and property negotiation, there will be things that are difficult and challenging. Real estate is a balance of many things, and your ability to stay in control is critical to the results that you achieve.
Staying Motivated as an Agent the Right Ways
Given all of this ‘pressure’, how can you stay motivated? How can you stay on task to get the best results for your business? The answer is simple. Control 50% of your day and leave the balance of the day to the uncontrollable and challenging things.
Control the first 50% of each day, and that is the time up to noon. Beyond that real estate daily start-up, the low priority or administrative things can be handled. In doing that, you will feel that you are indeed in agent control, which will help your motivation. Sure, there are always exceptions to the rule and what you need to do but ensure that you remain in control of your real estate business. Control brings results.
The Keys to Real Estate Control and Motivation
The keys to staying motivated can work like this for you:
- Control the first 50% each day – This should be the first four hours of the day, and the time frame will start at 8 am. The first four hours can be directed into the growth of your business and particularly so on the telephone. During those four hours, you can talk to many people, and your lists will help you do that. In making those canvassing calls each day, you will create meetings. Just one or two client or prospect meetings a day will lead to listings at the end of the week. It is a simple ratio to work with, and it has a big impact on your growth of market share.
- Remove diversions as you find them – This will involve avoiding time-wasting emails and inbound calls. Whilst email is a communication convenience, it is also time-consuming and overpowering at times. The diversions from emails and inbound calls can be from people that are low on the priority list. It would be best if you did not look at your emails first thing in the day, which will divert your thinking. As an agent, you do not want that happening.
- Get out of the office in the afternoon – You can visit your real estate territory, walk the streets, and meet people. When you do this, use your business card as a ‘leave behind’ when you door-knocking local business. Staying in the office has no benefit to you or your real estate business. Develop your real estate business from a base of strategy and action.
- Track progress numbers and conversations – A simple strategy like this will help you see how you are improving with the things that matter in your real estate day and career. The numbers to track should be outbound calls, meetings created, listings generated, exclusive listings and marketing dollars converted.
- Build a list of achievements – This can be a list of past property transactions and photos of positive property outcomes. The list is robust in several ways, given that it helps you remember the things that were positive in result or consequence. You can also use the photos to share with your clients about transactions and property situations as part of a story.
- Grow your database and client lists – Watch how your real estate database grows and how you can use that growth. Set a simple target of increasing your database by 25 people per day. Also, call back the people you already know, and then share information about prices and rents locally.
- Use exclusivity as listing leverage – The number and grading of exclusive listings that you have at any point in time are essential as part of growing your real estate business. Target a specific number of exclusive listings that you can constantly work with. Twenty exclusive listings will be sufficient as a target, and your property transaction conversions to positive results should be over 75% with those listings. The time on the market for that group of listings be shorter than open listings.
- Talk to your clients frequently – Conversations with clients help you find information and identify those leads to work on. Clients also appreciate the sharing of relevant and up to date market information and stories about results locally.
So, these strategies will help you stay motivated as you move ahead in your commercial real estate career. Use these ideas as the ‘basic rules’ to building your real estate business. Soon you will be more confident and optimistic about what you are seeing and achieving in your real estate day.