Walter Sanford
When you talk about top producers, I’m not talking about the guy who consistently wins the top sales award at the office. I am talking about the people who are consistently at the top of their franchises or the top of their regions. Not only those who are just at the top regarding units sold but also those who are at the top in take-home pay.
I believe this person would be someone who is a high achiever, has a life, has a net income, and has the numbers to back it up. For years, I have researched the various causes for success in top agents. The upcoming list includes items that I have personally implemented, allowing me to be at the top of my game for so many years.
A lot of these items are common but not implemented. This is the missing link as to why there are so few top producers in the world. It takes dedication and devotion to consistently do what others don’t do so hopefully I can make this a little more compelling and a little more fun. The bright light at the end of the tunnel is the fact that you can earn enough money to buy real estate at possibly the best time in our lifetime. You’ll then be able to reap the cash flow and appreciation for future years along with a fixed, low-interest rate loan that will be paid off during your career. Yes, you can get rich in this business! I have done it, I’ve seen other people do it, and my coaching clients are currently doing it.
Here’s the list to move your way to the top:
1. I’m sure this first one is going to be a shocker – set goals. Don’t wait for what walks in the door. Don’t base your business upon a few good months and then take some time off or buy stuff. Know how many listing appointments you need to make every week, and know how many buyers you need to have under contract. Know your commission rate and know how to consistently answer the objections that get in the way of your goals. Have a plan for each day, each week, each year, 5-years, 10-years, and beyond. The best of the best have their day at least 2/3 time blocked knowing that it is the only way to accomplish the mandatory items to maximize real estate productivity. One of the tricks is that you have to know what those items are!
2. Fill your time blocked schedule with activities that actually make money in real estate. You won’t find too many of the elite agents spending half their day in social media. What you will find is pro-active, seller lead generation minimizing buyer participation, minimizing print advertising, maximizing their abilities to price correctly, and using the leverage that is natural to this real estate business. Top agents know that listings generate buyers, and if buyers are shown the right inventory, this will generate listings. As a top agent, understand that buyers and sellers generate commissions while also allowing the agent to evaluate real estate for their own purchases. It is an amazing business.
3. Understand the objective of your activity. When you’re talking with a seller on the phone, you have two objectives: get the appointment and make certain they have enough motivation to make the listing presentation worthwhile. At the listing presentation, get the one-year listing at 7%, determine motivation, and price at the right price or have a future price reduction signed. Top agents understand the goals at each meeting, and it difficult to get them to leave until they have tried at least a few times to achieve these objectives.
4. The top 1% ask more questions, allowing them to get to the heart of the issue. When a seller says they want to sell because the house is too big, you can expect a top agent to ask more questions like these:
“Why is a large home a problem for you?”
“I understand that there is a lot of maintenance involved with a house this size. Did you know that you could pay someone to perform a lot of these items for you at a reasonably small price?”
“Could you tell me again why a large house bothers you?”
A top agent would keep this line of questioning going until they found out that the true reason the person is selling, which is most often that they simply couldn’t afford the property and/or they wanted to free up some equity for other activities. Many sellers would be too embarrassed to explain this detail up front to regular agents so these agents would assume the house is too big. How can you get a seller to look at today’s realistic prices without constantly reminding them what the finish line looks like? Top people ask questions so that “finish line” can be determined and highlighted on a consistent basis, allowing the tough decisions to be made in this market.
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