Episodes
Thursday May 30, 2019
Why Wealth is Built Through Boredom
Thursday May 30, 2019
Thursday May 30, 2019
Time and time again, we’re reminded that success comes from repeating steps. Which ‘boring’ steps should you continue to take? How can you stop thinking of your routines in a negative way? On this episode, we’re discussing why mundane, everyday activities are crucial for success.
If you want the highs, you have to do the boring things. -Matt Johnson
Takeaways + Tactics
- Following ‘boring’ routines is really a simple approach to mastery.
- It’s fun to create something new, but remember that a lot of our great ideas don't get brought to completion.
- There is the “doing”, and there's the “perception of the doing”
If you think about some of the most celebrated sports stars, like Tiger Woods and Michael Jordan, they often have something in common: committed, repeated activity. Even when they’re at the top of their games, they’re continuing to practice the steps that took them to the top in the first place. Don’t allow yourself to be put off by the banality. You’re mastering small steps, every single day.
Thursday May 23, 2019
Change Your Story... Change Your Result
Thursday May 23, 2019
Thursday May 23, 2019
Entrepreneurs in the real estate space often avoid certain lead generation strategies in favor of the one they use most often. Is the strategy used the most also the strategy most effective? Why are agents so inclined to keep doing the same thing, rather than trying new avenues? On this episode, we’re discussing why you need to change your story to see different results.
Takeaways + Tactics
- Pay attention to the story you’re telling. You must have an understanding of the narrative you share.
- Ask yourself if the story you’re telling is true.
- Question why you keep sharing a particular narrative. Chances are, you had a bad experience with it in the past.
Most of the time, the narratives we share are based on an experience we had with strategies in the past. If you had a poor experience with For Sale By Owners, for example, you’re likely to avoid revisiting the situation. Learn to identify when you’re generalizing and perpetuating a negative narrative. You have to change the story to change your results.
Thursday May 09, 2019
Thursday May 09, 2019
Real estate is a relationship-based business, and we can use technology and professional development to increase and improve the success of our business. How do we create a mutually beneficial environment where we grow as a company and our people also experience personal growth? How do we make technological advancement work for us rather than against us? Why should we invest time and resources into training and coaching for our people? In this episode, Century 21 CEO Mike Miedler discusses why he focuses his attention on training and coaching, and how we should embrace using technology in the real estate industry.
It’s about understanding the hopes, fears and dreams of our agents and brokers so that we can help them be better with their business. -Mike Miedler
Takeaways + Tactics
- If someone is representing our company well, and we are helping them with their growth, then they are likely to be a great advocate for our brand.
- We need to embrace technology so that when we are inevitably doing business at a lower margin, we are also dealing with higher volumes. This ultimately increases revenue, profitability, and income.
- By pushing people forward and giving them the right training and coaching, people can internalize the process, execute it in the field and increase their productivity and profit.
Want to Know Where Greg Harrelson Gets His DATA?
Click here:
https://www.colerealtyresource.com/landing/realestatesalessolutions/
We also discussed:
- What makes someone a great advocate for your brand
- Why we should embrace technology
- How training can increase productivity and profit
As business owners, we should be focused on growing our company in the best ways possible. The people in our company are key to this, and by providing the tools and systems they need to reach their goals, we are in turn reaching our goals as leaders. Technology plays a big role in business today, and we need to embrace this in the real estate industry so that we can be more productive and serve our client base effectively.
Guest Bio-
Mike Miedler is the President and CEO of one of the smartest, boldest, fastest and largest real estate companies in the world: Century 21. Mike has more than 20 years of experience with the Century 21 brand in various roles. He is a leader in residential and commercial real estate franchising, brokerage, and management, and understands the important role the international markets play in expanding the brand and the system’s growth opportunities. Mike can connect you with local experts anywhere on the planet if you need insight, trends, excellent customer service, flawless execution or just simple advice for any type of real estate transaction. He specializes in people and helping them achieve their goals. https://www.century21.com
Thursday May 02, 2019
How to Survive When Net Commissions Drop
Thursday May 02, 2019
Thursday May 02, 2019
Real estate agents have been concerned about commission compression and the idea that they’ll eventually be replaced. If we stop listening and observe what is actually happening, we will see that the main concern lies in referral fees cutting into our net profit. Why don’t we have to worry about commission compression? What can we do to offset the shrinking effect referral fees have on our profit margins? How can a tool like Contact Junkie help us acquire our own leads?
In this episode, Greg Harrelson and Matt Johnson discuss ways in which we can increase our net profit margins when referrals are cutting into them.
While you’re accepting leads from someone else’s faucet, you must also create a faucet of your own. -Greg Harrelson
Takeaways + Tactics
- Agents need to increase some of their outbound lead generation strategies to make sure that they’re adding deals to the mix and netting a higher margin.
- By doing our own marketing and figuring out how others are generating leads and taking them in-house, we can start to generate leads at a lower cost than what we’re paying for them.
- We have to stop taking for granted that our center of influence loves us so much that they are going to be loyal to us forever. We must continuously give value to them.
It’s not commission compression that’s digging into our net profit. It’s the increasing amount we pay for referrals, and the increasing proportion of transactions done with a referral fee. In order to increase our net profit, we need to generate more of our own leads and pay less for them than what we pay in referral fees. Increasing outbound lead generation strategies, doing our own marketing, and consistently giving value to our existing database are ways we can grow our personal lead database and make more profit.