Skills Pay the Bills

While attending the "Success Seminar" featuring Joe Niego yesterday, I gained a handful of ideas I would like to run past you. 

Having been a part of the great real estate boom from 2000-2006, one thing I have noticed since it's decline has been that great markets create poor habits.  I would like to go over a few skills you can master and poor habits you can overcome, that will help you build a more successful business.

You are a small business owner:   You may work for a broker, but you are an independent, commissioned sales person.  This means you are a small business and must operate like a business.

Embrace a planning attitude:  One thing I have noticed about people is that we typically put more effort into planning a vacation or a holiday shopping trip than we do planning our professional or personal lives.  As a broker, if you don't have a plan, you are likely on the the plan of another successful broker.

Establish sales goals:  Using your strategic plan, establish sales goals.  Be specific in those goals.  Don't just say you want to increase your business from last year.  Set a goal of doing a specific number of transactions.  Write these goals down and have a tracking system.

Create a financial budget:  Budgeting is critical given the up and down of this volatile market.  Your financial budget should be based on your forecasted income, and take into account your marketing costs and any additional costs such as your education or the cost of doing business (dues, fees, license, ect.)

Make managing yourself a priority:  Building a business is hard work.  You must learn to practice good time management, manage your ongoing real estate business training, and manage your personal life.  I know that real estate is a 24/7 business, however, it is important not to lose sight of your personal life including family, friends and physical health.

Find a mentor or a Coach:  Accomplishing all of this alone is not an easy task.  Seek out a mentor who can help you maneuver your way through known obstacles and help your during the "peaks and valleys." 

Be a great real estate agent by creating good habits and living by them.  These are only a few tips to help you build a successful real estate business.  More to come!

Brandon Penny
bpenny@fmrealty.com
http://www.facebook.com/fonvillemoriseydurham
919-402-1201