{"id":172,"date":"2017-12-19T13:39:40","date_gmt":"2017-12-19T17:39:40","guid":{"rendered":"https:\/\/kbconsultingsolutions.net\/?p=172"},"modified":"2018-04-23T13:42:12","modified_gmt":"2018-04-23T17:42:12","slug":"hey-coach-i-want-to-double-my-income","status":"publish","type":"post","link":"https:\/\/kbconsultingsolutions.net\/?p=172","title":{"rendered":"Hey Coach, I want to double my income\u2026"},"content":{"rendered":"

You may or may not have said this to your Coach, or even out loud.\u00a0 But honestly, how many have entertained the thought?\u00a0 And it\u2019s not limited to sales production. This may also be related to recruiting and increasing the number of agents and quality of sales force in your office.\u00a0 So, if you are new to the business, a seasoned professional, and\/or a Broker\/Owner\/Manager or Recruiter.\u00a0 This one is for you!<\/p>\n

The first step that I normally take with Clients who want to \u201cdouble their income\u201d in the upcoming year\u2019s Business Plan is to stop, drop and evaluate the business we\u2019ve closed in the past 12 months and then move forward.\u00a0 Let\u2019s take a brief look at the steps needed to potentially \u201cdouble down\u201d and have your best year ever in real estate.<\/p>\n

\u00a0Thoroughly evaluate your \u201cSource (closed) of Sales\u201d<\/strong>
\na.\u00a0 Transaction side by transaction side, discern where the business came from.
\ni.\u00a0 Drill down to the specific resource which provided the lead; example, if it the source is farming, what specific product was mailed? What was the message? What is the timing (frequency and consistency) of the mailing? Was the collateral mailed snail mail, door knocking or digital?
\nb.\u00a0\u00a0Be very intentional with each closing to discern the steps, process, procedure and circumstances around each closed transaction.<\/li>\n
\u00a0Results are in the Details:\u00a0 Write it down<\/strong>
\na.\u00a0\u00a0Document the history of the transaction
\ni.\u00a0 These details should also be a vital, manageable dimension of your database.\u00a0 The habits and history of both buyers and sellers is predictable.\u00a0 Use this to your advantage.
\nb.\u00a0\u00a0Once you have results, you may now make comparisons and determine what is the best return on investment of time, money, talent and energy on your part as well as the rest of the team.<\/li>\n
\u00a0Document the response time in servicing each \u201csource of sale\u201d<\/strong>
\nThis is where we have a coachable moment or two. This is one of the first steps to increase your production and profitability.\u00a0 The more dependent you are upon technology, the more powerful this evaluation will serve for you.
\na.\u00a0\u00a0What was the time from lead origination to lead contract (either listing or buyer)
\nb.\u00a0\u00a0What could have been done to improve the response time?
\nc.\u00a0 How will current systems and processes be modified to shift results?<\/li>\n
\u00a0The art of follow up<\/strong>
\nIf you were to have a heart-to-heart, eye-to-eye conversation with yourself, what would you discover about where your business may be leaking away from the closing table?
\na.\u00a0\u00a0For each category of \u201cSource of Sales\u201d that you evaluate, ask yourself the tough question of \u201cwhat slipped through the cracks and was never followed up on?\u201d
\ni.\u00a0 How many leads were mishandled or completely abandoned?
\nii.\u00a0 How many calls were there that were never returned?
\niii.\u00a0 How many of my past buyer\/sellers were involved in a transaction this year without my professional assistance?
\niv.\u00a0 What major opportunities were missed that could have promoted the business to a bigger audience in a cost and time effective way?
\na)\u00a0 Community Events
\nb)\u00a0\u00a0Cause Marketing
\nc)\u00a0\u00a0Client Appreciation
\nb.\u00a0 What systems are missing that allowed the leak?
\ni.\u00a0 Who\/what will provide the solution?
\nii.\u00a0 Who will execute the details to ensure each is followed up on?
\nc.\u00a0\u00a0Where is the accountability?
\ni.\u00a0 Coaching?
\nii.\u00a0 Systems that remind and badger us until the \u201ctask\u201d is complete?
\nd.\u00a0\u00a0Financial analysis
\ni.\u00a0 What did the leak (not following up on the lead) cost?
\na)\u00a0\u00a0Current year financial loss
\nb)\u00a0\u00a0Professional reputation
\nc)\u00a0\u00a0Future business<\/li>\n
Communication<\/strong>
\nAs you have now realized, follow-up is vital in the pursuit of doubling or increasing your business from year-to-year. It\u2019s about systems and execution.\u00a0 Yet don\u2019t overlook clear, concise and intentional communication.
\na.\u00a0\u00a0Ask for the business
\ni.\u00a0 \u201cWho do you know that I should be talking with?\u201d should be the close of each and every conversation you host.\u00a0 This is by far, the best open-ended question you may ask.\u00a0 It opens the closing conversation up to much more than buyers and sellers.\u00a0 It opens the door to a dimensional, comprehensive snapshot into the sphere of the individual or group you are speaking with.
\nii.\u00a0 Be approachable and open to serve.\u00a0 Never allow your response to be \u201cso busy\u201d or \u201cso busy I don\u2019t know what to do\u201d \u2026 you must appear organized and remain approachable and ready to serve the needs of others.
\nb.\u00a0\u00a0Timing is everything
\ni.\u00a0 Ask for the referral at the start of the relationship and not at the closing table.\u00a0 To repeat, end each conversation with \u201cWho do you know I should be talking to?\u201d and see what happens.\u00a0 When you raise the awareness of your willingness to serve needs to the beginning of the relationship\/transaction, you will be surprised how it will increase your business.
\nii.\u00a0 All team members should be asking the same question.\u00a0 Build it into scripts.<\/li>\n<\/ol>\n
\u201cHey Coach, I want to double my income\u2026\u201d may or may not be where you are, yet refining what you do and when you do it will certainly get you closer to the goal you have set.\u00a0 And picking up the business you\u2019ve dropped or that has fallen through the cracks will take you over the top and bring repeat business as you will serve to be a resource, and not a sales pitch.<\/p>\n<\/body>","protected":false},"excerpt":{"rendered":"
You may or may not have said this to your Coach, or even out loud.\u00a0 But honestly, how many have entertained the thought?\u00a0 And it\u2019s not limited to sales production. This may also be related to recruiting and increasing the number of agents and quality of sales force in your office.\u00a0 So, if you are<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-172","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/posts\/172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=172"}],"version-history":[{"count":1,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/posts\/172\/revisions"}],"predecessor-version":[{"id":173,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/posts\/172\/revisions\/173"}],"wp:attachment":[{"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}