Level Up - From Agent to Entrepreneur

3 Things That Agents Can Do To Fail Right Now

In any real estate market, but especially in a transitioning one, failure is only a certainty for the agents who aren’t focused on the right thoughts, behaviors and activities. The good news is, if we’re aware of the common pitfalls that lead to failure, we can sidestep them and make success inevitable.

 

What completely avoidable factors are contributing to failure right now?

 

In this episode, we talk about 3 bad habits that will definitely lead to us not meeting our goals.

 

As agents, our next breakthrough will originate from our thoughts. -Greg Harrelson

 

Three Things You’ll Learn In This Episode  

 

• Winging it vs. an approach by design
  Will complacency definitely lead to failure?
  
  
• How to put your business in cruise control
  How does inconsistency create the gaps that wreak havoc on our production?
  
  
• Why we need an antivirus for our minds
  How can we tell if we’re letting our mental guard down and allowing negativity in?

Treat The Next Market Like It’s Your 1st Market & You’ll Be Perfectly Fine

When we were new agents, we were hungry, motivated and willing to take massive action to succeed. Over time, this excitement and drive turned into complacency, and now that the market has shifted, it’s easy to feel like we don’t have what it takes to thrive.

 

Here’s the good news: you’ve already come this far in real estate so you’re well equipped for a market shift. If we would just treat this market like we did our very first market, we would meet and even exceed our goals while other agents are experiencing breakdown. What does a day 1 mentality look like, and how do we make it our default state of being? In this episode, we talk about how to approach a changing market.

 

If you just treat this market like you did your first market, you’ll be fine. You already know what to do - you don’t lack knowing how. You have to stand up, take massive action on what you already know how to do. -Greg Harrelson  

 

Three Things You’ll Learn In This Episode  

• The danger of denial
  Before we even think of our approach to a new market how do we come to terms with the shift?
  
  
• Why new agents do well
  How do we readjust our attitude, approach and expectations back to a day 1 mentality?
  
  
• The difference between lead generation strategies
  Why is it so important to shift our understanding of lead generation and how to approach it in this market?

5 Ways to Stay Productive & Engaged When the Market Slows Down

One of the side effects of a market slow-down is a dramatic drop in momentum. As a result, many people take their foot off the gas at a time they need to be most active.

When the urgency of a hot market cools down, and things aren’t moving as quickly, it’s really easy to become less engaged in the work, and less deliberate about following a schedule.

How do we maintain momentum even if it feels like the market doesn’t justify it? How do we fill up the empty spaces in our day so we’re still productive? In this episode, we’ll talk about how to keep ourselves motivated and engaged when the market slows down.

 

The best move for your business is to establish the hours you’re open and then fill those hours with things that allow you to grow the business. Top producers fill their days with activities that lead them to their goals. -Brendon Payne 

 

Three Things You’ll Learn In This Episode  

 

• Why we have to sustain a deliberate schedule no matter what
  Instead of cutting a slow day short, how do we still move ourselves forward when there isn’t a lot going on?
  
  
• How to sharpen your abilities
  What steps can we take to master our craft and be more prepared for the market?
  
  
• The best way to consume content
  How do we feed ourselves with information about the market without getting sucked into negativity?

Dominant Thoughts: How to Operate From Strength in a Shifting Market w/Chris Heller

In a business like real estate, mindset has a lot more to do with our success than the actual market. How we perceive a situation and the story we tell ourselves about it separates the fearful from the ones who operate at the highest level.

Whatever’s happening externally, we always have the choice to think Dominant Thoughts or to fall prey to defeatist ones. How do we set ourselves to operate at our best? Does a market shift mean we’re doomed to fail?

In this episode, I’m joined by real estate industry leader, agent, Chief Real Estate Officer of OJO Labs and the author of Dominant Thoughts, Chris Heller. He gives us insights from the book that will sharpen our mindset and emotional state in this market.

 

When you get attached to something and your emotions are involved, it’s hard to be objective and come from a place of power. -Chris Heller

 

Three Things You’ll Learn In This Episode  

 

• Why so many agents are in an emotionally dangerous place
  Can you commit to an outcome without becoming attached to it?
  
  
• How to guide your clients effectively
  Buyers and sellers have surface-level concerns, how would a great salesperson get to their true motivation and solve their problem?
  
  
• The advantage of having many conversations
  Can consistent lead generation provide us with vital real-time research about the market?

 

Guest Bio

Chris Heller is a real estate industry leader, agent, Chief Real Estate Officer of OJO Labs and the author of Dominant Thoughts. Formerly the CEO of Keller Williams, Chris Heller earned his real estate license when he was 20 years old and went on to build one of the most successful real estate teams in the United States. From his selection as Rookie of the Year in 1989 to being the top-producing agent in San Diego County and the #1 Keller Williams associate in all of North America, Heller has earned the respect of colleagues and clients for the results he delivers. Under Heller’s leadership, the Chris Heller Real Estate Team has sold more than 100 homes a year for almost three decades.

For more information on the book or to get yourself a copy, head to https://dominantthoughts.com/ or Amazon.

To order multiple copies of the book for your agents, contact Chris directly.

Does The Shift Really Matter?

There’s so much conversation right now around the shift - if it will happen, when it will happen and whether or not we can survive it. Considering that many agents have had massive success through down markets, does the shift really matter? Do the conditions in the market really determine how well we do?

In this episode, we talk about what we need to be focused on more than the market conditions.

 

The same market shift can produce totally different results within agents. -Greg Harrelson 

 

Three Things You’ll Learn In This Episode  

• How to succeed in any market conditions
  A down market can be the thing that walks you out of the market or a period of huge success. What determines your outcome?
  
  
• Why so many agents are scared of the market changing
  After such a hot market over the last 2 years, how do we adapt our mindsets and activities to a shift?
  
  
• The importance of the right guidance
  Who we listen to can impact our mindset about the market, so how do we filter out the unhelpful noise?

How to Become a Listing Machine (No, It’s Not All About Prospecting)

In this industry, the term “listing machine” conjures up an image of a hardcore prospecter who can instantly turn a conversation into a deal, but that’s not the case, especially in this market.

A machine is meant to deliver a consistent, predictable result over time, and truthfully focusing on generation will only lead to an income rollercoaster. To have a true machine, we have to generate leads and cultivate them in equal parts - we have to think like a farmer turning a seed into fruit.

How do we build the discipline to cultivate and nurture leads? In this episode, we talk about the critical mindset shift every agent has to make to create a solid pipeline of leads.

 

"There’s more money in lead follow up than in lead generation." -Greg Harrelson

 

Three Things You’ll Learn In This Episode  

 

• The true cycle of a transaction
  How long of an incubation period can we expect with a lead from first contact to listing agreement?
  
  
• Why you have to monetize the nos
  In real estate, we have a tendency to cross leads out when they aren’t ready to buy or sell right now. Are we letting them go too quickly?
  
  
• How Abe Safa has closed over 70 transactions so far this year
  Can we have a database nurture process so effective that it can produce a deal exactly when we need it?

When Market Uncertainty Hits, This is How to Gain the Advantage w/Michael Maher

There’s no doubt that the market is shifting and that it’s sparking fear and uncertainty, but a national recession doesn’t have to become a personal recession for us.

The degree to which we’re impacted by market forces is entirely in our control. Our mindset is more likely to decrease our production than the market itself, so how do we set ourselves up for success?

In this episode, I’m joined by speaker, trainer, entrepreneur, founder of ReferCo, author of the 7 Levels of Communication, and host of The Referrals Podcast, Michael Maher. He talks about the most critical skill every agent needs in a shifting market. 

 

"You’ll get so much further in life with brilliant questions than you will with brilliant answers." -Michael Maher

 

Three Things You’ll Learn In This Episode  

 

• The truth about the current market
  Can we say the market is shifting, even though inventory is still tight in some markets?
  
  
• Why conversations are key to success in this market
  How do we use quality conversations to turn strangers into acquaintances and then advocates?
  
  
• How to convert at a high level
  What’s the best script for a shifting market rife with uncertainty? 

 

Guest Bio

Michael is a speaker, trainer, entrepreneur, founder of ReferCo and the author of the 7 Levels of Communication, and the host of The Referrals Podcast. He is one of the most in-demand speakers in the world. After his book “The Seven Levels of Communication: Go From Relationships to Referrals” (7L) exploded on the scene and became an instant international bestseller, his second book “Miracle Morning for Real Estate Agents” co-authored with Hal Elrod and subsequent speaking engagements have shown the world that building a business based on Love, Generosity, and Appreciation isn't fluff and stuff... it's simple, and far more productive than the traditional ways of doing business.

To listen to the podcast, head over to referralspodcast.com. Join the Generosity Generation group here, and book your tickets for Referral Mastery here.

Market Shift Rescue Kit

Market shifts lead to conversation changes that are essential to prepare for.

Unfortunately, many agents often do not know how to respond to or make the most of these changes to maintain their market share.

In this episode, sales coach Abe Safa sheds light on how to properly prepare for market changes and use them to your advantage.

 

"The more people you talk to, the more business you are going to do."- Abe Safa

 

Three Things You’ll Learn In This Episode

• How to take advantage of a changing market
  What steps should we take to get our shares out of a changing market? Is it okay to adapt to market trends, or is it better to stay the same?
  
  
• Preparing for opportunities to gain market share
  Can market changes be viewed as opportunities? What role does lead generation play in gaining market share?
  
  
• The importance of future-pacing our sellers and buyers?
  What is future pacing, and why is it important to practice it in this industry?

Is Your DataBank Open For Business?

There’s a big difference between a database and a databank - one is just a collection of names, and the other is the most valuable asset we own in our businesses.

Every real estate agent should be intentional about their databanks, especially in a tight-inventory, highly-competitive, shifting market, like the one we’re in right now.

How do we deposit into our databanks so we can extract more gold from it? Why will the agents with databanks thrive when the market shifts?

In this episode, we’re joined by special guest host, Abe Safa. He shares how to be more deliberate with our databanks, whether we have 50 or 5000 people.

 

"If all you have are names and numbers, that’s not a databank, that’s just a list." -Abe Safa  

 

 

Three Things You’ll Learn In This Episode  

• How to make our conversations easier
  How do we become such a solid resource for our datanks so that we’re top of mind in the confusion and uncertainty of a shifting market?
  
  
• Why we can’t take the gas off our database-building activities
  Building a databank is an ongoing process, why is it so critical to start early and constantly replenish it?
  
  
• The first step to getting more value out of our databanks
  Why is it so important to segment and filter our databanks, and how do we actually do it?

From Team Leader to Brokerage Owner: Jeff Cohn On the Evolution of His Business

The best leaders in real estate create a world so big that their people can build their own empires inside it. Whether it’s building a brokerage or going after ancillary businesses, thinking like entrepreneurs retains top talent, improves the service we give the consumer, and ultimately, it makes our organizations more valuable.

Why did Jeff Cohn decide to switch from running a team to owning a brokerage? What ancillary business can we add to our businesses for passive income?

In this episode, the owner of KWElite and host of The Team Building podcast returns to talk about the evolution of his business.

 

"If the businesses we’re in aren’t generating more income in less time, with less energy, we should look for a different business to run or change the way we’re doing business." -Jeff Cohn

 

Three Things You’ll Learn In This Episode  

 

• Why Jeff Cohn chose to build a brokerage
  Teams are great for getting newer agents but what happens when that agent wants to build their own big business?
  
  
• The untapped potential of joint ventures in real estate
  There are 3 ways to win monetarily with ancillary businesses, but what’s the most valuable and passive one?
  
  
• The ancillary business with a $12 million potential
  Why is insurance such a perfect-fit ancillary business for a real estate organization?

 

Guest Bio

Jeff Cohn is a nationally renowned speaker, host of The Team Building Podcast, and owner of KWElite, a tech-powered Keller Williams market center in Omaha, NE. As founder of Omaha’s Elite Real Estate Group, now kwELITE, he led his team from 70 to 700 transactions in 6 years, and was awarded the #1 team in unit sales in the world at Berkshire Hathaway HomeServices in 2019. Since beginning his real estate career in 2006, Jeff’s team has closed over 5,000 sales, totaling over $1 billion in volume. Devoted to ongoing learning throughout his career, Jeff has forged strategic relationships with industry leaders across the country, listened to thousands of hours of podcasts and read hundreds of books, providing him with a vast knowledge base. Jeff is considered a foremost real estate expert due to these efforts, and as founder and CEO of Elite Real Estate Systems, a coaching company, offers the annual Team Building Summit, monthly workshops, and weekly coaching calls. As a credit to his extensive know-how, Jeff speaks frequently at various events throughout the US and Canada.

To get your tickets to The Team Building Summit, go to https://www.theteambuildingsummit.com/ and use code PODCAST to get $100 off your ticket.