Wednesday, March 8, 2017

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.