Fundamentals of Real Estate Sales in London Ontario
We believe excelling in sound real estate fundamentals is the foundation for lasting success. James Clear states, “You do not rise to your goals; you fall to the level of your systems.”
One of the biggest downfalls I see with most Realtors is a lack of consistency; I believe there are three reasons why:
1: No accountability by their brokerage, team leader, family or themselves.
2: They think real estate sales is a 9-5 five-day-a-week job or part-time.
3: They do not treat their real estate career as a business
Harsh comments yet so true; I have seen good people leave this business for many reasons, mainly because their financial state changed or out of frustration. For some, I did not say work habits, for they had great work habits; they were just not consistent in doing the right stuff every day.
What is the right stuff every day?
First and foremost, if you are not where you desire to be in health, income & or financial independence, you’re responsible, not the economy, your brokerage or any excuse or justification you may have. Face it, any desire you have means you are not the person you need to be to meet your desires. Look around you. Look at leaders in sports, cinema, business or family; all paid the price to meet their goals; sacrifices, discomfort, long hours and many frustrations and setbacks and rejection, yet they persevered!
Any truly successful person in any field will gladly admit that they were off course at times but that inner will to succeed corrected their path to being successful. Being average in real estate is not the best for you, your family, or your clients!
It is a beautiful feeling to succeed; it makes up for disappointments, frustration, and toil of long hours.
REBOOT YOUR CAREER?
Just as you reboot your computer or phone if it is not giving you the results you want or expect, by restarting and reloading, perhaps you may need to reboot your career! That is what this page is about; take it from me, I have had to reboot myself many times and boot myself in the butt until I found the proper operating modalities and habits, and I am continuing to upgrade to keep up or get ahead of the changes in the market and trends.
Are You a Marketing or Sales Coordinator Genius?
High, Average or Low Performing Realtors, What To Do in 2023
For high-performing Realtors, you are already performing and have great habits; for the rest of 2022, in this market shift, maintaining your income level, fine-tuning your referrals and updating your social media and website strategies would be profitable decisions.
For the average Realtor in London, I suggest being better informed on the local market, choosing your clients wisely, fine-tuning your best practices, and investing in yourself with coaching and more training.
For the underperforming Realtor, being a Realtor is not a job; it is a business and is not part-time; if you are not out meeting buyers and sellers face to face, setting daily appointments, getting results from your social media and online marketing, you will not be above average. Real estate is not your business if you do not have a work ethic. If you say to yourself you don’t know what to do, or it is someone else’s fault that you are underperforming, or this market shift is the reason your income sucks, take responsibility and get help from your brokerage, a coach, a mentor or at least go to YouTube, there are thousands of videos on how to succeed in real estate.
Telling ain’t Selling.
You can make statements all day long, but telling clients what you do is not selling yourself and does not work 92.4% of the time; showing what you do is far more effective.
So always be sure to “show, don’t tell” whenever possible.
Instead of telling buyers how you can help them, show them examples and your checklists (don’t have a checklist? Shame on you). Show them your testimonials and reviews, and sales history. Show them how you research a property’s sales history and the neighbourhood and how you develop comparative properties to ensure your buyer client is making a good decision.
Instead of telling home sellers what you do, show them your 100 or 200-point plan or steps you do to sell a home. Show them your stats! Show them your marketing strategies, show them your social media presence, show them, don’t tell them!
Again, telling isn’t selling; showing is!
A Professionally Designed Business Plan
Less than 20% of real estate associates have a business plan. We believe without a detailed business plan to answer critical questions about your business and provide you with a platform for future growth, success in real estate becomes much more difficult. Our real estate and business plan outlines and evaluates all aspects of your real estate business and establishes a specific roadmap and process to achieve your goals.
A correctly laid out business plan is not some pie-in-the-sky dream that you do once and then look at 12 months from now. This plan is your foundation, created by the best business coaches on the planet and monitored by them! Again, we offer our associates; that you would pay up to $10,000 per year individually for this in-depth career builder.
6 Questions To Ask Yourself For a More Rewarding Real Estate Career
1 How flexible are your hours? Realtors consistently rank flexibility as a reason they got into real estate, but as they got busier, working late nights and weekends can interrupt family time because they are available whenever a client calls. What boundaries have you set for yourself? How will that affect your business? Income? Is time management an issue? With our systems, you can leverage your time to offer exceptional service and maintain a balanced family and social life.
2. Do you offer value every day to your clients? Real estate is one of the most significant financial decisions your clients may ever make; it is easy to lose sight of this with the day-to-day activities, interruptions, disruptors and servicing new and past clients. What systems do you have in place to offer value consistently?
3. What are some of the talents you have that nobody knows? If very few people know about you and your skills, you could be the best-hidden secret in the marketplace. Don’t hide!
4 Not happy with your earnings? Similar to question 2. Did you know your income is consistent with the number of skills and value you provide to your clients? Where, how, and what skills do you need to increase revenue? Your current income equals the value you currently offer.
5. Are you running your business, or is the business running you? Your current real estate brokerage considerably impacts a Realtor’s success rate, career growth and exit. Is your current brokerage providing you with a financial exit plan, a mentoring or a leverage program?
6 Do you have one or two niche markets where you’re better suited? Are you a general practitioner? “I’ll take on anything, any buyer or seller, anytime, anywhere,” Realtor? If so, enjoy the struggles, disappointments and frustrations and a yo-yo income. This is a very blunt statement; the brutal truth usually hurts. What niche markets can you master? Do you know how?
When Choosing a Real Estate Company to Join, How Do You Know You Are Making The Right Choice?
There are 3 phases for most Realtors in their career: The beginning, the learning and the rewarding. I did not want to say four stages, for we all know the 4th stage: frustrating, irritating, struggling, hurting, and eventually, the big quit!
The Most Valuable Asset For a Realtor in London, Ontario Part 1
The most valuable asset in your business as a Realtor isn’t your cell phone, car, or brokerage. Your Golden List of past clients, friends, family, acquaintances, hot leads, etc., can bring you new clients, referrals and repeat business. Your golden list will determine your market share and how well you do as a Realtor; no golden list, no market share.
London Ontario Realtor Tips:
Our Daily Vision
Do we know our buyer client’s expectations to know we are on track? Our Sellers, our vendors & support teams?
- Clients (Who are they? Why us? What value can we bring to each one consistently?)
- Associates (Are our people skills, communications, technology and work ethic the best in the market and if not, why not?)
- How do buyers and sellers perceive us
- What is not working? How do we know?
- Is what we are doing the most efficient way of doing it? If not, why?
- Do their standards align with ours when referring a lawyer, home inspector, or tradesperson?
We have outlined our values; if the above makes sense to you and you are committed to a career of financial integrity & abundance, reach out to me; your privacy we respect.
At any given moment, we have two options: step forward into growth, avoid discomfort, and go back to safety.
Commit To 5 Years & I Will Help You Create Financial Freedom For The Rest of Your Life!
Contact me at 519-435-1600 or submit the form below