Put The Coffee Down! Coffee's For Closers!

I really love the movie glengarry glen ross, don't you? It is loaded with interesting and fun vignettes about the real estate business. Many of which are timeless and relevant in todays real estate environment.

Prospecting for leads, is one of the basic functions of the professional real estate agent/broker and yet so many of us make up excuses as to why we don't do it. We are great at procrastinating on this fundamental exercise, aren't we!

Truth be told, in real estate sales, productivity follows activity by 30 days. That has certainly been true for me in my 35+ years of front-line selling! I had a Daily Activity Graph and a 90 day Activity Chart. And like clockwork my production levels shot up when I took Massive Action...Go Figure! One of the other tools I used was to ask myself great questions like:

1. How many people did I see for the month, how many listing prospects, how many sales prospects?

2. How many listings did I actually take and how many sales did I make?

Then when I divided the number of actual sales or listings into the number of buying prospects or listing prospects I got my ratios. It was really cool to watch my ratios improve as I improved my skills!

So, for example, if I showed 10 people property and sold 2 a home my ratio was 20%.

One of the little tricks I use to get me on track and in the game of prospecting is to use a point system. This makes it clear to me when I am working instead of excusing! It is also a great way for me to hold myself accountable...which is not one of the skills I was born with! Lol. Here's how I keep score:

See a FSBO - 1 point

Look at New Property - 1 point for each home seen that I hadn't seen before

Show Property - 1 point

Door Knocking - 1 point for each homeowner I talk to

Listing Appointment - 1 point

Listing Reduction $5,000 or more - 1 point

Listing Extension 30 Days or More - 1 point

Open House - 1 point for each contact I got the name and number for

Any Cold Contact Where I get their phone # - 1 point for each

Referral Customer - 1 point for each incoming and/or outgoing referral

Thank You Note - 1 point for each sent w/business card enclosed

Mail-Outs or Direct Mail Ads - 1 point for each 20 sent

Phone Canvassing - 1 point for each 10 I talk to

Now, my goal every day is to get a minimum of 40 points! When I take that much action my production soars. When I don't...well that's when I have a slump!

I would then chart my progress on the 90 day graph and it was totally revealing. It left zero doubt as to whether or not I was doing the job or not. Real estate is partly a numbers game. In order to increase production we MUST increase the number of prospects we meet.

As a side benefit to doing this exercise. The more activity I do the more confidence I gain, it strengthens my self-image and my attitude!

Try this little exercise for the next 90 days. Be brutally honest with yourself and I guarantee you will see an increase in your sales and listings with an increase in your Activity!

Rock On Boys and Girls!


Mike


P.S. Time for me to Put The Coffee Down and ask you to take me up on my offer for a FREE Strategy Session where we'll go over your business and see how we can make it Rock! This is a no B.S. discussion about You and Your business and I won't try to sell you anything...that would be tacky, don't you agree? What I will do is give you an honest hour of diagnosis and discussion and hopefully help you.


Simply enter your name and best email address and I will reach out to you! If you would rather you can email me at mf7figureman@gmail.com or call me at 503-913-8218!

 Yes Mike, I will take you up on your offer for a 100% Complimentary 'Strategy Session'

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