4 Important Real Estate Topics To Help You Reach Your 2023 GoalsNeil Bada
On this episode of Mike Ferry TV, Coach Ira Naiditch shows us 4 Important Real Estate Topics To Help You Reach Your 2023 Goals.
Good morning and welcome to Mike Ferry TV. My name is Ira Naiditch and we’re just beginning the week of November 28th. For those of you in the United States. We just finished our Thanksgiving weekend, and for all of us, we have one month of work left before beginning 2023.
We will be going over 4 Important Real Estate Topics to help you reach your goals. Are you ready? Have you completed your business plans? What are you doing to remain appraised of any market shifts in your area? And are you ready to do what it takes to make the changes that may be required to achieve your goals and make 2023 the best year it can possibly be?
With interest rates up and with there being every indication that interest rates are going to continue to rise, at least for the next few months, are you adapting to the changing market? Mike’s been telling us that we may need to prospect more than we did in 2021 or 2022. We need to work differently. We need to make changes to how we do our business.
You know, just last week, right here on Mike Ferry TV, Tony Smith gave us six great points on how to strengthen our mindset. Among those points he gave us were one, “Stop trying to compare yourself to others.” Your business is your business. Worrying about what others do is not helping you move forward.
We know that only 8% of all Real Estate salespeople sold over four homes this year, only 8%. Now, we also know that it’s every one of you who are selling more than that. So why worry about the 92% who are low producers or who are doing almost nothing? If you can learn from one of the top agents, great. Let’s do it. Learn, but don’t compare. Just keep working to improve your business each year.
Number two, “don’t spend time on things you can’t control.” Stay away from the news media. First of all, it’s generally bad news and that can interfere with positive thinking. And secondly, you can’t generally change it anyway. So why spend time on it? Focus on what you can affect. And that’s your Real Estate business.
And number three, “stop trying to please everyone you communicate with.” Stay focused on what you need to do. Trying to please everyone does not help you achieve the goals you set for yourself now.
Don’t misunderstand. I’m not saying being mean. I’m saying what Mike says and that’s, “We don’t have to please everyone if what they’re asking is counterproductive to what we need to accomplish.” Work hard to make your life and your family’s life better.
Now, with all of that in mind, what are your plans for the next 30 days? I mean, that’s all we have left in 2022. And if you’re serious about 2023 and I mean really serious, we’re already there.
If you don’t have listings and if you don’t take new listings in December and make new sales in December, you won’t have any inventory or any closings in January. That’s not what you want, is it? As we look at what we have to do, let’s look at the 4 Important Real Estate Topics:
4 Important Real Estate Topics To Help You Reach Your Goals
a) Your Real Estate business. What changes do you have to make to ensure that your 2023 goals are met? We all know that if we continue to do the same things over and over again, we’re going to continue to get the same results we’ve always gotten. That’s the definition of insanity. Is that what you want? If not, make the appropriate changes.
It may mean getting up earlier or going to bed earlier. It may mean an evening or two per week of prospecting, or maybe just every other weekend. Or maybe, just maybe, following your daily schedule. Staying on track with improved accountabilities.
b) Your personal production. How can you achieve your personal production goals with growing your database and working that database out? How about calling other highly productive sources like the new Expired Listings that are growing in most markets? Or probates. Divorce work, notice of defaults and of course the For Sale By Owners and the For Rent By Owners.
How about reading more and putting positive thoughts into our heads? Are you all registered for January’s Production Retreat? Mike’s got a lot planned for that Retreat, including having some really great agents up on stage doing role-plays so that we can all see how they actually get production done and how they do their job. And that gives us the opportunity to learn from them. You don’t want to miss that.
So if you’re not all registered now, how about doing it right now? And if you think January is a bad time to be away, think again. Talk to your Coach if you have one or call MFO. Key is you really need to be there. It’s not like any other event.
c) Improving your profitability. Do you have minimum standards with regards to commissions? Your time and knowledge are valuable.
You know, I was reading on a Facebook post just a few days ago. There’s this big picture of a big ship and it’s got a huge propeller. And the story said, A giant ship engine broke down and no one could repair it. So they hired a mechanical engineer with over 30 years of experience. He inspected the engine very carefully from top to bottom.
And after seeing everything, the engineer unloaded his bag. Pulled out a small hammer and he knocked something gently. Soon the engine came to life again. The engine had been fixed.
A week later, the engineer mentioned to the ship’s owner that the total cost of repairing the giant ship was $20,000. “What?” Said the owner. “You did almost nothing. Give us a detailed bill.” Well, the answer is simple. Tap with a hammer: $2. Okay? And the experience of knowing what to do and where to do it: $19,998.
See the importance and appreciating one’s knowledge and expertise and experience because those are the results of struggles, experiments and even tears. If I do a job in 30 minutes, it’s because I spent 20 years learning how to do it in 30 minutes. You owe me for the years, not the minutes.
Well, folks, you’re that engineer. You’re the engineers of Real Estate. And you have those years of experience. You’re the ones doing 25, 50, even 100 deals a year or more. You’re in the top 8% and not the 92% that sell less than four homes per year. Understand your value and get paid commensurate to your experience and knowledge of the Real Estate industry.
d) Your lifestyle and the dreams that you have. Are you dreaming big and are you thinking big? What are your life goals for 2023? And then look five years out and even ten years out?
When looking into 2023, have you planned your schedule of time off so you know exactly how many days you’re actually working? Your schedule should always be based on the goals that you set for the year, not anything else.
Don’t copy other people’s schedule. It’s your schedule. And remember that the schedule is more important than the deal because if you follow your schedule, you’ll do more deals. Where have you heard that before? Mike’s been teaching us about time management for almost 50 years. And why does he do that? Because it works.
So consider giving a copy of your schedule to your staff. To your Broker or Manager. To your Coach, to your clients. Even give copies to your spouse, your parents, your kids who are the real beneficiaries of your success. The more people who hold you accountable, the better off you are.
Those are your 4 Important Real Estate Topics.
Now, if you’re not careful, December can be hazardous to your business and financial health. There will be no shortage of parties, all of them during the workday. Few people working in the office and many, many opportunities to avoid doing what you perhaps should be doing.
What can you do to maintain your focus between now and the end of the year? Remember what Mike says, “There is a lot of business to be done.” And just recently on a Zoom call with a Real Estate company, Mike said, “A great finish results in a great start to the New Year.” So let’s have a great finish. There is a lot of business to be done.
Believe it or not, there are homes listed for sale in December. Believe it or not, there are Buyers looking for homes in December. And believe it or not, there are Real Estate sales contracts executed in December.
The question is how many of them will be with you as the agent facilitating the transactions? Eleven months of 2022 are over. If you’re on track to finish the year achieving your 2022 goals, congratulations! That’s great! If not, don’t look back. Look forward.
2023 is before us, and every one of us has the potential, even in a changing market, to have a great, great year in 2023. Just remember, it starts right now. Not four weeks from now. It starts right now.
There’s a lot of business to be done. So let’s do it and have a great December and start into 2023. Thank you for reading this blog post on the 4 Important Real Estate Topics To Help You Reach Your Goals.