The Week of 2/13 in Review

Feb 20, 2023

Agents are always looking for ways to increase their production and most importantly, the money they earn.

The #1 way to do this without question is...

Charging a full fee.

For most agents this is a non-starter - No one in my market charges 6%!!

The funny thing about that...

Every agent who is charging a full fee is doing it in a market where no one charges 6%.

If you truly want to work less and make more... The Full Fee is your playbook for doing so!!

You can purchase the book on Amazon - The Full Fee Agent

Coaching Highlights

There is no mystery when it comes to being great...

The thing that almost every top performer shares in common is an all-out obsession with being great.

They know exactly what they want to accomplish.

They are single-minded in their purpose.

They believe 100% in their ability to make it happen. There is no room for doubt and worry.

They commit themselves fully and completely.

They say NO to everything else.

They passionately prepare themselves in every way possible - study, training, practice, repetitions, conditioning, etc.

They are open-minded and always willing to learn and grow.

Every day is a relentless pursuit to get better.

No stone goes unturned.

Their internal standards and expectations of themselves are simply higher than everyone else.

They are always seeking some type of competitive advantage.

They consciously install the right habits.

They don't wing it. They don't leave anything to chance.

At the same time, the great ones think on their feet and can improvise when the situation dictates.

Routine and ritual are a critical part of their process.

They are very strategic and calculating.

They outwork and out-hustle everyone. They are not looking for shortcuts.

They don't make excuses. They never let themselves off the hook.

They understand the consequences of their actions and take full responsibility for what they do and don't do.

They make great sacrifices knowingly and willingly.

They play hurt and play through injury.

They are intensely focused. They are a person on a mission.

They tune out ALL the noise and distraction that we all face in life.

They take extreme care of themselves - physically, mentally, emotionally, and spiritually.

They are meticulous when it comes to being ready. No detail is too small.

They test and challenge their limits at every opportunity.

They are bold in their actions.

They seek coaching and feedback.

They are truly self-aware and brutally honest with themselves.

They are quick to adjust when necessary.

They thrive under extreme pressure and relax into it.

They are resilient and bounce back quickly from defeat, more determined and resolute than ever.

They play with joy and love in their heart.

They keep things in perspective and know how to pace themselves.

Their attitude and effort elevates everyone around them.

They know they cannot achieve what they want without the help of others.

They take nothing for granted. Everything must be earned.

They understand the history of their game and want to be part of that history.

They respect their profession and relish the challenge of being the very best they can be.

Bottom line: They are obsessed with being great... ALL OF THE TIME!!

*******

Now ask yourself...

Are you the person I described above?

Why or why not?

We all have the ability to be great.

Whether we exercise that ability or not... is a choice.

What choice are you making in your life?

If you are slow right now... join the crowd. You are not alone and it is not about YOU!!

If you are busy right now... be eternally grateful and lean into it.

The worst thing any of you can do is go on social media and compare and judge yourself with anyone who is promoting how busy they are.

Keep in mind you have no control over when buyers... buy and sellers... sell.

You should be digging into your CRM right now and making all your calls.

This is JOB ONE.

This market is going to test you.

This is why MINDSET is so important.

Read The Daily Stoic below and take heart.

Keep things in perspective.

Worry is not work. It is simply driving with the brakes on.

DO YOUR JOB!!

Life was just one thing after another for Marcus Aurelius. The plague. The flooding. The wars. He did not meet with, “the good fortune he deserved,” one ancient historian noted, “as his whole reign was a series of troubles.”

Anyone who has had a run of bad luck knows the feeling. It’s frustrating and annoying and sometimes deeply unfair, but there is also something freeing about it. Because after a certain point, you stop fighting and start accepting. We can imagine Marcus, after the 50th piece of bad news just saying, “alright just put it on my tab.” What was one more thing at that point? What did it even matter?

He knew there was no use resenting, no use wishing it was otherwise, no escaping, no denying. He just had to add it to the list. He had to accept it was pouring and he was in for a long, wet night. He had to focus on a plan for what was to come next.

It would do us good to borrow this attitude, particularly lately. We’ve had our own plague, civil unrest, wars, economic downturns. And this is on top of our own personal issues–perhaps a divorce, young children, trouble at work, an injury or a diagnosis. While we should never accept injustice or give up hope, we do need to accept that it’s time to buckle up. It’s not going to be an easy ride. The bill is not going to be cheap. Somebody is going to have to pay it…and like Marcus Aurelius, in our own lives, that person is us.

So tell ‘em to put it on your tab. And start getting to work on it.

Player Development

The number one challenge in building a team is attracting the right people.

The number two challenge is developing the talent that you hire.

Player development requires a well-thought-out process and time.

The idea that you are going to find people and they are going to produce at the level you want with little or no guidance/ accountability is extremely naive.

Player development starts with having clear expectations.

Everything must be put in writing.

This is why having a team playbook is critical.

It maps out everything your team members need to do to be a productive member of your team.

Productivity does not happen by accident. It happens by being on purpose.

This includes team culture, mindset and attitude, time blocking and CRM, effort and skills, and performance standards.

Every team agent has to be trained in the above. No one should be unclear as to expectations and consequences.

Compensation must also be precisely spelled out. You must map out each scenario in terms of lead type, participation, and payment.

Grey is the enemy.

How you do business is more important than how much business you do.

Your team agents must be trained in "the how"!!

This is going to require daily participation and daily accountability.

The independent contractor mindset DOES NOT work in a team setting.

Every team agent needs to understand what they are signing up for.

It is not "come and go" as you please.

And you have to do all this in the framework of them being independent contractors and not employees.

It is critical that you consult with a Human Resources expert to find out what you can do and can't do in terms of required standards and practices.

Training is time-consuming and must be done systematically and not haphazardly.

It involves:

1. What you want each agent to focus on.

2. How they block their time.

3. How they use their CRM.

4. What they do each day.

5. How they track what they do.

6. How they improve their sales skills.

7. How you measure and evaluate their progress.

Player development is a full-time job.

It must be regimented and consistent.

Without an emphasis on training and accountability...

Don't expect your team agents to meet your production standards.

Ultimately, team production... not your production... will dictate the success of the team.

If you cannot excel at player development, imagining any scenario where you will succeed long-term as a team is hard. It is that important.

Most teams fall incredibly short of the mark when it comes to player development.

This is truly an opportunity for drastic improvement.

We stress week after week the importance of charging a full fee.

Let's flip this around to the Buyer side this week.

The idea that you would work with any Buyer without a Buyer Representation Agreement signed makes zero sense.

The only reason you do not get this agreement signed by every Buyer is simple - FEAR!

And fear is not a good reason.

Why do you want to invest your time, energy, and resources working with someone who is not willing to make a commitment to work with you on an exclusive basis?

This is not a good business practice.

Hope is not an effective strategy.

The reality of working with Buyers is this:

Real Buyers will sign a Buyer Representation Agreement.

Suspects won't.

A real Buyer will do what it takes to find a home.

Suspects will only do what is convenient for them.

Again, this whole conversation revolves around probabilities, not possibilities.

What does the discussion look like:

Agent: At the risk of being presumptuous... would it be wrong to assume you would like to work together.

Buyer: I would like to work with you.

Agent: I work with all my Buyers on an exclusive basis.

Buyer: What does that mean?

Agent: I ask every Buyer I work with to sign a Buyer Representation Agreement.

Buyer: What is that?

Agent: This agreement details my fiduciary responsibility to you in helping you find, purchase, and close on a home. And in return, IF... IF you buy... you are committing to buy through me.

Buyer: That makes sense.

Agent: There is one other thing I need to bring to your attention about this agreement. My standard fee to represent a Buyer is 2.5%. In the event the commission being offered to the Buy side agent is less than 2.5%, you would be responsible for making up the difference. For example, if the listing was only offering a 2% commission to the Buy side agent, you would be responsible for the remaining .5%. I will let you know in advance if this is the situation. There are also other ways we may be able to address this.

Buyer: I can live with that.

*******

This is the basic conversation you would have with a Buyer upfront. We recommend having this before your first showing appointment or after your first showing appointment. You need to brace your Buyer for this conversation. However, it needs to be part of your process when working with any and ALL Buyers.

If this is not your standard practice, you are going to have a lot of resistance to doing this. However, it is a real game changer. It is the best way to find out who is committed to buying and who isn't. Better, it is the best way to find out who is committed to working with you and who isn't.

Making this shift is not nearly as hard as you think it will be. After two or three times, you will quickly see the fear is all in your head. And once you gain your confidence, you will make this your standard practice. Without getting this agreement signed, there is a level of anxiousness that you feel consciously or unconsciously that you are always fighting against when you work with any Buyer.

Surrender your fear...

Surrender your hope...

Make this your standard practice !!

You are going to hear me talk more and more about your subconscious mind (your habit mind) and how powerful it is. This video will be a great primer for you.

Dr. Bruce Lipton - How to Reprogram Your Mind

Here is the written transcript - Download now

NEED INFO

Next week we are going to announce a 4 Week Program on Time Blocking.

Here is an outline of the program.

Dates and times will be released next week.

Time Blocking - Getting The Important Things Done

"If you chase two rabbits... you will not catch either one." Russian Proverb

Time is your most precious asset. We all have the same 24 hours per day and 7 days a week to work with. Why is it that some people seem to accomplish so much more with the time they have?

In his book The One Thing, Gary Keller shares the following:

1. If you want to succeed, go small. "Going small" is ignoring all the things you could do and doing what is most important.

2. Extraordinary results are directly determined by how narrow you make your focus.

3. The way to get the most out of your work and life is to go as small as possible.

4. Big success comes from doing a few things well. Most people are trying to do too much and in the end they accomplish too little.

5. Highly successful people align their actions with their priorities.

For most agents, time blocking is a real struggle. Chasing (the pursuit of a deal) and time blocking are mutually exclusive. This course is going to outline in a very practical way... the mindset, mechanics and mastery of time blocking.

Week One - What is Time Blocking? Why it is so important and why you are not doing it.

Week Two - The Mechanics - How you actually Time Block.

Week Three - Creating your Personal Calendar.

Week Four - How you make Time Blocking into a Habit that sticks.

Fee: $1000