For most people when the market drops, their cash flow also drops. How do you build a business that can allow you to prevail through a downturn? Why is it so important to learn the steps of business the right way? How do you make sure you’re reserving enough time to work on the business and generate leads? On this episode we are joined by Kevin Mills who shares how he’s been able to continuously double his business.
Skill is less desired in a hot market because the market will sell the property anyhow.-Greg Harrelson
Takeaways + Tactics
- 95% of your business is going to come from follow up so put time towards that.
- Prep time is a servicing task, not a generation task.
- As you do more years, typically the percent increase goes down.
At the start of the show we talked about how Kevin got started and what motivated him. Next we talked about why his way of doing business is so duplicatable and predictable. We also talked about the importance of learning the system the right way, and why optimizing is so important. Towards the end of the show, we talked about the importance of constantly increasing leads, and what keeps Kevin motivated.
We also discussed: - Why skill becomes more crucial in a downturn - The importance of follow-up - The difference between servicing tasks and generation tasks - The process of mastering the dialogue
It is necessary to learn the system of running a successful real estate business the right way. Doing so will give you a nice trajectory and high volumes. Doing business the way Kevin has done it won’t just mean that you’re profitable now, but that you’ll be sustainable for the future, even when a downturn takes place. If your strategy is based on paid leads and your cash flow drops, you’ll have less money to invest in the lead flow which can knock you down if the market shifts.
Kevin Mills is a North Myrtle Beach Real Estate agent in the CENTURY 21 Greg Harrelson team. Go to http://www.c21theharrelsongroup.com/ for more information.
With everything happening in the world right now, the consumer is more distracted than ever. How can this cause a shift in momentum in the market? How do you offset the potential losses? How do you bring attention back to what’s important and have the right conversations with your clients? On this episode, we discuss how to maintain momentum, even when people are focused on everything that’s happening in the world.
When the distraction of the consumer increases, the answer for the agent is to actually decrease distraction and increase their number of contacts. -Greg Harrelson
Takeaways + Tactics
There are distractions you can control and distractions you cannot control.
Right now, the market is so good that it’s even rewarding people who aren’t skilled or efficient.
Media companies monetize distraction.
Don’t communicate about the transaction, communicate the motivation.
At the start of the show, we discussed the various things that are distracting the consumer, and what it has to do with the news. Next, we discussed what would go wrong if the both the consumer and the agent are distracted. We also talked about the power of showing people that you really care, and that you want what is best for them. Towards the end of the show, we talked about how people attract business by treating people like they are already your clients.
We also discussed:
How to get better at asking good questions and listening
How to increase your activity when the market slows down
How distraction creates inactivity
Distractions give people a sense of uncertainty. When people feel uncertain, they tend not to make a lot of decisions. If the consumer’s distraction and inaction is coupled with the agent’s inactivity, this can have a huge impact on the market. As an agent, it is your job to limit distractions by having better conversations. In the face of a distractions, keep your client focused on their motivation. Remember: people’s motivation isn’t “to sell a house”, but to acquire the benefits that come along as a result of the sale. If you want to succeed in this distraction-laden market, decrease distraction in your interactions and increase your number of contacts.
Featuring masterminds with real estate leaders, coaches and influencers PLUS eye-opening strategy sessions with up-and-coming agents. Past guests include Hoss Pratt, Michael Reese, Rick Davidson, Danny Morel, Pat Hiban, Jeff Cohn and many more!