Want to Make More Money? Go Back to Basics!
Want to Make More Money? Go Back to Basics! – by Dana Sparks
If you want to make more money in real estate and bless more people, then go back to the basics! Regardless if you are an experienced / veteran agent, an agent returning to the field, or a brand new licensee. There are different levels of “basic” depending upon where you are in your career. Throughout the month, I have taught a 2015 GAR Contract Dissection Class & a class on License Law for Real Estate Agents and Brokers. The majority of the agents in BOTH classes had been in practice an average of 8 years and 99% of them learned something NEW that they stated would assist them in their career. Below are some basic “To Do’s” for you if you want to make more money this year than you made last year!
Read Your Contract Forms– The contract forms are the tools of your craft so you should know them thoroughly. Just like any professional violinist knows a Stradivarius from a del Gesu from a Yamaha, you should thoroughly know your contracts (BOTH GAR & RE Forms) Special Stipulations, Exhibits, and Amendments. All agents should read through them & take as many different Contract Classes as you can!
Take Classes at FMLS & GAMLS – If you are new to real estate, you should take every “101” class they offer. The listing services are the crux of our business and you need to know how to navigate through both these services. If you are an EXPERIENCED Agent, have you learned how Matrix works? Are you using it? Do you use the Market Trends? Know how to access them? Do you know how to search through the LISTING Services anywhere in the country through FMLS & GAMLS? No!??!?!?! Hmm?? You should think about taking classes at FMLS & GAMLS as well! Their training is basic for new agents and advanced for experienced agents!
Take Classes in Lead Generation / Listing Systems / Buyer Systems – Is the majority of your business from one source? What happens when you have exhausted your entire database & past clients – learn how to find a new source of people to help! Are you primarily a Buyer’s agent? Go learn how the listing side of the business works! All agents should have a variety of lead sources and marketing tactics.
Find a Mentor / Coach – If you are a newly licensed agent, connect with a mentor now!!! There is so very much to this business, that you will do yourself AND your clients a favor by having a mentor for your first 3 – 5 transactions. It is well worth the money to learn how to excel at your profession, make a good living and make it a career! If you are an experienced agent and know how to make a living, get a coach and learn how to create a career with an income of $250000 and more! It is easily do-able and several agents in Maximum One have made that amount in 2014 and more. Is this what your 1099 says you earned? Get a coach so that next year’s 1099 will show a high 6 figure income for you! There are several National real estate coaches – Mike Ferry, Tom Ferry, Craig Proctor, Floyd Wickman, Brian Buffini, etc. and you should also find an agent in your area to shadow!
Create some Accountability / Mastermind – Regardless of your experience level in real estate, we all need accountability to keep us on track. Find an accountability partner or group. Attend a Mastermind group or create one for synergy, ideas, accountability and support. Join Nationwide programs as well – for example, Active Rain.
Learn to Manage your Time – Everyone has the same 24 hours in a day – how is it that some people are more productive with their time than others? Find out! 😉 Here is a hint: routines, time blocking, generating business every morning before doing anything else, delegating administrative responsibilities.