Are You A Natural REALTOR Or An Ongoing Student?

So many of us get into sales, or real estate, because we have been told our entire lives that we “have the gift of gab,” or “could sell ice to Eskimos.”  The difference in outcomes comes from if we continue to do it naturally or become students of our craft.

 There are seven key result areas in our industry. They are like digits in a telephone number, you must dial each in sequence if you want to get through and make a sale.  Your performance and effectiveness in each of these key results areas determine your overall success and height of your income.

 These key results areas are prospecting, building rapport, identifying needs, presenting through a conversational approach, answering objections, closing the sale and getting resales and referrals. Your own self-concept in each of these determines your performance and over all income.

 Fortunately, everyone who is good in any of these areas was once poor at it. Every professional in the top ten percent started in the bottom ten percent. The good news is if you can drive a car or operate a cell phone, you can become excellent in each of these seven critical skills. It is simply a matter of learning and practice.

 If you have a poor self-concept with regard to any particular sales activity, you will avoid it whenever possible. The only reason you avoid taking action in a particular skill area is because you are not yet good at it. You have not yet mastered the skill. If you are not good at something, you make mistakes. You will feel awkward, angry and frustrated. It would be normal and natural for you to avoid that activity.

 The solution for your fears, or reluctance in any key skill area in selling, is for you to master that skill. Fortunately there are countless books, audios and our own Momentum Complete Agent Development courses available to you. There is no reason for you to be held back from joining the top of this profession simply because you are currently weak in a particular skill.

  You can learn how to prospect effectively. You can be taught how to build high levels of rapport and trust with prospects. You can become skilled at how to ask questions and listen carefully to the answers. You can develop calmness and confidence in your interactions with others. You can learn anything you need to learn through practice and repetition.

 It is the same with any skill area. You can become an expert at accurately identifying the needs of the person you are talking to and qualifying the prospect by asking more and better questions. You can become excellent in your sales conversations, growing so effective that people are asking you to close them. You can learn how to answer the prospect’s objections and concerns, responding so satisfactorily that the objections disappear and never return. Also you can learn to create a never ending chain of referrals and repeat customers for your business.

 The better you get in any area, the more positive your self-concept becomes in that area. The more confidence you have in your abilities, the happier you feel when you are doing that part of your job, and the better results you will get. You never feel uneasy doing something you are good at. You only feel anxious doing something that you think you are not particularly good at. Every single step that you take to improve in any area raises your self-confidence and increases your likelihood of success each time you try it.

 In 2018 there are Small Groups that will be working together with Jimmy's guidance to hone your skills and develop your businesses, there will be our ongoing classes and boot camps to refine those seven skills. There will be monthly accountability sessions to assure that you are making defined progress and private coaching to work on your own specific business needs along with two retreats were you will be introduced to new challenges to stretch your thinking and a deep dive into one area of your business.

 So, whatever future success you desire is available to you for the taking.

What Is Your Crutch?

 When we are learning a new skill or technique, we are often dealing with learning new terms or new understanding of definitions of terms along with the actions required to implement them. This can cause confusion and frustration in the learning process. We can get overwhelmed and retreat back to what we know and give up on our change we wanted, or at least thought we wanted. 

 Last month on this blog I talked about how in any learning curve we go through four stages.  Starting with Unconsciously Incompetent, where we don't know we don't know. Then to Consciously Incompetent, where we learn that we don't know.  Then hopefully to Consciously Competent, where if we are focused on doing the new skill we can do it, and eventually to the Unconsciously Competent where we just do it without even thinking any longer. When was the last time you have experienced this? If you are taking the Momentum Complete Agent Development program, I am sure you can relate by now. It is a tried and true system, but one that is foreign to the experiences of most in our industry, thus why it is a complete game changer for those who fight through. 

 It was ironic that I wrote about this last month because I just have had a serious "Ah Ha" moment on it personally yesterday. I have learned through my surgery that words have different meanings from my experience previously and how the doctors used them for surgery recovery. When I hear "rehab" or "your body will tell you how much you can do," I understood them to mean what they did for rehabbing dozens of injuries over the years. Yet, there is obviously a huge difference, where I was always trained to push them to build strength, that didn't work well at all. I pushed too hard on the ninth day post surgery, not realizing it until later when my body slapped me down hard.  I have never experienced that level of pain before. After that I was kind of like the cat that jumped on a hot stove, I was very reluctant to jump on a cold one for fear of getting burned again. So I was going along Unconsciously Incompetent, not knowing I didn't know the meaning of those words by my doctor, and was shaken awake to a very Conscious Incompetence. At this stage, I became overly cautious and retreated back to not wanting to feel the pain. How much is that like when we decide to try a new script or process we are learning and it blows up in our face because we didn't know it as well as we thought? That is the purpose of SPAR (Study, Practice, Action and Review) but in the middle of the pain of the moment that isn't the first thing we want to do. 

 On Tuesday I went to my one month post op appointment with my doctor and something he said took about 24 hours for me to hear. He off handed said when I grabbed my cane, "you should use that when you walk for long distances." It didn't register at the time, but did he mean not to use it otherwise? So I made the decision yesterday to try it, and it was awkward and felt scary just like any time you are working on those new skills and scripts. Then I learned something even more interesting, when I was consciously thinking about walking "normal" heel to toe without "protecting" the leg I have been protecting for the last six years and intensely protecting the last four weeks, it worked much better with much less discomfort. However, whenever I wasn't thinking about it and fell back into the habit of protecting it, it was more awkward and painful. So, I have advanced to Consciously Competent, now I am looking forward to that wonderful day when it becomes Unconsciously Competent and no longer have to focus or think about it at all. 

 Whatever it is you are working on learning you will go through these four stages, just do not get weary in well doing, keep pushing through it, keep SPARing and you will make whatever it is you want to learn a part of your every day life. 

It Starts With A Step

When we begin to learn any new skill, we begin by being Unconsciously Incompetent. This is like before you tried to drive, you had ridden with others driving for all your life and it looked easy, you were unconsciously incompetent, you didn't know you didn't know. As soon as you tried to drive and found out it was much harder than you thought, you graduated to Consciously Incompetent, you then knew you didn't know. Very quickly, you started figuring it out and as long as you concentrated on what you were doing you could drive, you were then Consciously Competent. Soon you could drive, mess with the radio, drink a coffee and eat a donut all at the same time and were Unconsciously Competent. We go through all of those phases on every new skill we learn. Far too often once we become Consciously Incompetent, we get frightened that we might look foolish and retreat back to our comfort zones. 

 Personally, I have my own fear of the unknown to face right now, to overcome my own uncomfortable comfort zone. As I type this I am five days from going into the hospital to have a total hip replacement. I will admit, I have never been so scared in my life. I have never been a patient in a hospital before, I have never been under sedation, most definitely never had anyone cutting on me. Believe it or not, I have grown comfortable with the pain in my hip. I have had it on and off since high school, but pretty much nonstop for the last six years. Until recently, I tried to hide it from everyone. Over this period of time, I have developed a lot of life hacks to make it through my day with very little discomfort by learning how to do things without really bending that hip. Of course, I have had to give up a lot of things I love to do, no more walking trails or exploring woods or forests, no more climbing or horse back riding.  Running has been impossible for several years even to avoid oncoming traffic. Then there are the little things like being able to put on a sock without a device or actually tying a shoe. By avoiding the things that hurt it,  I can get through my day without much pain, however, once the surgery happens there will be no avoiding it for the next few weeks. I have had to focus on what I want the results to be, even though, I really don't know if they will or not. I have been told the most common thing someone says who has this done is "Why did I wait so long?" I am collecting things I want to do to focus on, like taking my granddaughter walking through parks, climbing hills with her on my shoulders, taking her horseback riding, and being able to go for walks with my Bride once again. Of course there are no promises how anything like this will go, you are acutely aware of that when you sign all the waivers of what "could" happen. But it is the dream of what can be that helps you take the step into the unknown. My goal is to take baby steps, my first two goals are to graduate past using a walker in a week and then graduate from using a cane the second week. 

 When you look at the tasks of learning the new skills that are in front of you, my best suggestion is to dream of what might be once you have become Consciously Competent and even more so when you reach Unconsciously Competent. The days, weeks, months and years will pass no matter if you use them to reach those dreams or not. My prayer for you is that you choose to live a Glad You Did rather than a Wish I Had life. 

Step out, one step at a time.  

To Go Big Start Small

So often we see an idea, a new training class, or go to a seminar and are ready to revolutionize our worlds. We see HUGE opportunity by making HUGE changes and then what happens? More times than not, nothing at all. Big change looks scary and we often shut down, we plan to do the new idea, but every day we walk up to it and push it back another day until we forget all about it. 

  Change is hard, that sentiment is so widely accepted we don't even question it. Just look at New Year's Resolutions, which almost always fail. The average American makes the exact same resolution ten years in a row without success. Within four months 25% of resolutions are abandoned and those who eventually succeed usually do so only after five or six years of failure. Yet, business books and gurus come to us with these quick fix overnight promises that we treat very much like those resolutions. 

 However contrary to popular belief, changes don't have to be hard. Not if you use proven techniques to help you eat that proverbial elephant one bite at a time. It comes with working with how your brain is wired as opposed to against it. We, as humans, have three distinct parts to our brains, the reptilian brain or brain stem that makes sure we breath and our heart beats, our Middle or Mammalian brain where you would find the fight or flight reflex, and our outer more advanced Human brain, the Frontal Cortex. When big change comes to us, it often stimulates the fight or flight portion and we freeze. It literally shuts down our ability to think, it was designed to so we wouldn't analyze the tiger but run away. It also shuts us down when we face tests, papers when we get "writer's block," or when we try to implement new changes that seem too big for us. 

 So, the Kaizen Way of doing so, that came from the teachings of Dr. W. Edwards Deming. If you haven't heard of Deming, he is the man who taught the American manufacturing industry this method of incremental improvement that allowed America to win WWII. He then was hired by the Japanese to come turn their manufacturing around and did, from a conquered nation to the most powerful manufacturing nation in the world for many years. It could be said, that Deming changed the world twice with his teachings.  I strongly recommend that you pick up this little book on it and read it for yourself. 

Small Steps That Can Change Your Life.  

 Today, as I was coaching one of our agents. She told me how she is using this method to overcome a fear that has held her back. She is terrified of role playing scripts, but she sees the value in them. So she has taken to reading our Buyer Conversion Class and Seller Conversion Class workbooks every day, reading all the scripts and pattern inside. She is speaking about how much more confidence she is already feeling. We discussed that the next step for her might be shutting the work books and trying to write down the scripts from memory. Then the following step might be speaking them to her children or even her dog to get used to them coming out of her mouth. If these small steps are made then, even that which she has feared, will soon be easy for her. 

 We tend to overestimate what we can accomplish in a year, but greatly underestimate what we can do in five years. When we overestimate, we then start beating ourselves up over our "failures" and make development of our skills and habits even harder. If we embrace a slow steady growth, we won't believe the people we will be in five years from now, actually a whole lot sooner. 

 A rule of thumb on starting something new that has scared you in the past is break it down to the absurd. If you want to develop the habit of reading and you have set a goal to read but then don’t, maybe set a goal to read 15 minutes a day. That 15 minutes a day would allow you to read an average sized book in a month. However, if you set that as a goal and three days go by and you aren't reading, cut it back. Maybe try a paragraph a day, if you don't do that, try a sentence a day. Start small to go large rather than start large to give up. 

You can do it, one bite at a time!!! 

The 8th Wonder of the World Friend or Fiend?

 In Momentum Complete Agent Development classes,  we have seen an example of the cost of wasting one hour of productive time every day. It shows that by wasting that one hour of  opportunity costs five times a week over 48 weeks amounts to 240,000.00 in lost possible revenue had it been used for vital business activities. 

Think of the hours you dedicate to your business each day.

1. Are you getting the most of them?

2. Are you consistently operating at your highest and best use?

3. Do you know your highest and best use of your time?

 The 8th Wonder of the World is compounding interest, be it return on your money or your time. The good news is once in motion, it will work for you; the bad news is it will just as effectively work against you.

To see that power, there is an old story you may have heard before, but have you seen the math?.

 If I were to offer you a job to work for me for 31 days and offered two different options for your compensation, the first choice is one penny doubled every day, the second 100,000.00 flat salary for that 31 days work. Which would you choose?

Obviously, one would be work 31 days and you get 100,000.00.

The penny doubled scenario would work as below:

1 penny  = .01

2.            = .03

4.            = .07

8.            =.15

16.          =.31

32.          =.63

64.          = 1.27

1.28.       = 2.55

2.56        = 5.11

5.12.       = 10.23

0.24      = 20.47

20.48.     = 40.95

40.96.      = 81.91

81.92.      = 163.87

163.84     = 327.71

327.68.     = 655.39

655.36.     = 1,310.75

1,310.72.    =  2,621.47

2,621.44.      = 5,242.91

5,242.88.      = 10,485.79

10,485.76.     =  20,971.55

20,971.52.     =. 41,943.07

41,943.04.     = 83,886.11

83,886.08.      = 167,772.19 (24 days)

167,772.16.     =  335,544.35

335,544.32.     = 671,088.67

671,088.64.     = 1,342,177.31

1,342,177.28.   = 2,684,354.59

2,684,354.56.   = 5,368,709.15

5,368,708.12    = 10,737,418.30

10,737,418.20.    = 20,474,836.50.   ( 31 days)

This is why most people over estimate what they can do in a year, but greatly underestimate what they can do in five years.  Think of this the next time you're not working in your highest and best use of your time. Think of it this way, if you don't want to make 15.00/hour-- quit doing 15.00/hour work and make compounding your friend.

 Think if you simply take one new skill from one of the Momentum classes each time and apply it, the compounding effect would change the course of your life. 

10 Steps to Wealth in Real Estate.

There are three distinct phases that exist in the real estate business. The good news is it is your choice how you want your business to be. Keep in mind that today you are exactly where you chose to be. No matter what your business and life looks like today, it is the culmination of all the choices you have made to date. If you are happy with it, congratulations. If not, maybe it's time to make new choices.

 In Phase One, we have three distinct and important decisions to make to determine our level of success. It begins with a commitment to doing the business. It then requires we develop our confidence in how we operate our activities of our practice. We learn how to do a buyer meeting, a listing appointment or any other part of the process by first getting out of our comfort zone and learning how, until we have confidence in what we need to do. From there we must establish a consistent effort to make our business grow and prosper.  If you experience cash flow issues in your business, the problem is often found in these first three disciplines.

 In Phase Two, we chose to really step out of our comfort zone by moving out of the easy way of operating in a spontaneous and reactive way, consistently being pulled in a million directions by the crisis of the moment. This leads to a lot of wasted work chasing our tails and coming home at the end of long days frustrated for getting "nothing done" all day. So Phase Two starts with the discipline of Endurance, something that is always required in acquiring a new habit or skill. You will do well some days and poorly others, until those new skills are new habits. You will keep enduring until you can be fully Effective doing what is vital. What is important instead of what is urgent most of each day. At this point, you will see Efficiency where you not only focus on the important vital activities but the highest and best use and most dollar producing most of your days. If you want to be a Rich agent, this is all you need to focus on, and ever improving Effective and Efficiency of effort.

 If you want to leverage your time and money and gain wealth, then you must go to Phase Three and leverage other people's time. In Phase Three, you begin by developing the discipline of  Patience. Keep in mind you just developed your own endurance, effectiveness and efficiency in new skills and focus on only being vital in every activity throughout your work day, and now have hired others who have no idea what that really entails. So now you must be Patient as you coach them to understand your systems and have buy in to them. You will then need to Promote to them your systems and help them understand what benefits they will have as they too adopt them.  Once they do you will be guiding them to a Proficiency that they too are staying in their own and your teams Highest and Best Use of time.

Unfortunately only about 1-3% of agents and teams actually put themselves out of their comfort zones and through Phase Two, most simply bypass it and go from One to Three and take their lack of systems and chaos and add the lack of systems and chaos of other people to it.

If you want to know the path through Phase Two that is the commitment that Jimmy Dulin and I have made to keep our ongoing Momentum Training consistently offered throughout each year for you.

The Worst Enemy of Great is Good.

 "People assume everyone wants to reach their potential and be the best they can be. I've concluded most only want to be average and do just enough to get by." Nick Saban.

To realize your potential, it is reaching your capacity and has nothing to do with comparisons to anyone but yourself. Almost all unhappiness comes from comparing to others. We either compare our weaknesses to someone else's strengths and then feel badly about ourselves, or we compare our strengths to someone else's weaknesses and over inflate ourselves. What we should be doing is comparing our current selves with who we once were and celebrating the growth, and then comparing our current selves with who we could be and striving forward.

 How do you do it? You commit to being an active learning based individual rather than knowledge based. When I was hiring sales people, one of my questions I asked in interviews was "How many years of experience have you?" Then followed up with however many years they said, "Was that X years experience or one year experience repeated X times?" In other words tell me about the last class you took, the last seminar you attended, the last book you read or audio or video you consumed and what changes did you implement and what are the results?

The worst enemy of great is good. The "I'm doing good, I'm making money, life is good." holds more people back from what could be. It creates a temptation to be knowledge based where it is easy to dismiss out of hand "I've heard it all before." But are you doing it? If you were brought up on charges for knowing what you say you know, would there be enough evidence in your every day activities to convict you?

 The only way you can be Learning based is to force yourself out of your comfort zone. The most dramatic story that I can think of was Tiger Woods. Three times in his career, he hired coaches to relearn his swing. That was courageous to mess with a winning formula to reach a higher level. We too will have to step out of the comfort of what's already working for us and learn new ways of improving them.

 We begin by seeking new information, that 1%er thinking we spoke of last month, then we must learn to S.P.A.R. (Study, Practice, Action, Review.) After taking an active role in learning, we take that information back and study it-- maybe by learning scripts or the basic flow needed. We then must practice before we introduce it into our business. After that we take action and use these new developing skills with our clients, as we do so, we will learn where we may not yet have it right and we go back to class and review again and once again start that S.P.A.R. process until it's part of our new comfort zone.

Remember, to know and not to do, is not to know.

1 Percent Thinking

 Far too often I find myself asked "What does the average agent do?" This could be directed in any numbers of ways, but my answer is always the same, "Don't be average, average sucks." As one of my cherished mentors always described average "Average is the top of bottom and the bottom of the top, it's the cream of the crap."

What is average? What does it look like?

According to the National Association of REALTORS, last year:

The Average Agent completed two transactions.

The Average Agent, with five years of experience and above, had a gross commission income of 49,000.00. Which means they had a net nearer to 25,000.00.

RE/MAX reported that their Average agent had a gross commission income of 115,000.00 last year, much better, but keep in mind that means for every agent who earned a million last year that would mean as many as nine could have earned zero.

 The Average small business, no matter what it is, closes permanently within five years.

So what is our Aha here? Don't be average, it sucks. To not be average requires one common thing, the firm decision not to be and to follow up on what that means.

 Rick Setzer, one of my most admired mentors explained it this way, he taught the "Rule of 95%."

 The Social Security Administration has long had a chart that is used by insurance agencies and others as to what the financial outcomes are for people at 65 years old.

Out of every 100 people at 65;

36 would be dead.

54 would be dead broke, living off friends, family and the government.

5 would still be working.

4 would be financially independent.

1 would be rich.

If these numbers are true, and they are, it means that 95% of what you know you learned from someone in the 95%, true or false?

If true, what group would you have a 95% chance of eventually falling into?

How can that change? Learn to think like a 1%er.

Because you don't know what you don't know, and that is why you don't have.

Because if you knew what you don't know, you would have what you don't have.

And to know and not do, is not to know.

There is a lot of truth and wisdom in that seemingly silly little prose. Today there are so many ways to learn to think like a one percenter. There is a vast library of books, speeches and interviews with one percenters at a click of a search button.

RE/MAX has given us all a gift of a copyrighted program of 1%er training in the Momentum Complete Agent Development System. The information is there. It is up to you to choose if you will be an active learner or just know and not do. We will discuss this further in an upcoming blog.

We will also be discussing that "average" can have other scary definitions, when it is a landing pad called good when great is something you're capable of.

 It is your choice if you want to be Learning based not Knowledge based. Learning based is about active learning by Study, Practice, Action and going back to Review. Knowledge based is that Dead Sea of "I've heard it all before, I know that, that's old news, I don't need that." Remember to know and not to do means not to know.

To be continued.......