{"id":93,"date":"2017-08-01T00:13:53","date_gmt":"2017-08-01T04:13:53","guid":{"rendered":"https:\/\/kbconsultingsolutions.net\/?p=93"},"modified":"2018-04-23T12:39:32","modified_gmt":"2018-04-23T16:39:32","slug":"master-your-trade","status":"publish","type":"post","link":"https:\/\/kbconsultingsolutions.net\/?p=93","title":{"rendered":"Master Your Trade"},"content":{"rendered":"<body><p>As most of you well know, real estate is a living example of The Pareto Principle\u2026it would be safe to guess that less than 20 percent of the membership of NAR is doing 80 to 90 percent of the business (transactions) annually.<\/p>\n<p>So How?\u00a0 What sets them apart?<\/p>\n<p>They\u00a0<strong><em>master\u00a0<\/em><\/strong>their trade.\u00a0\u00a0 It\u00a0<em>IS<\/em>\u00a0that simple.<\/p>\n<p>Let\u2019s explore another group of professionals who simply (and remember simple is seldom easy) master their trade, one skill set at a time, one play at a time and then one game at a time.\u00a0 Each spring, members of MLB gather in Florida and Arizona and practice the fundamentals of their sport.\u00a0 You know, pitching, ground balls, stealing bases, hitting\u2026the fundamentals.\u2026over and over until they simply cannot get it wrong.<\/p>\n<p>What they know is the following: To make it to the playoffs, and then the World Series, they must invest time, energy, talent, patience and commitment into the fundamentals of the sport.\u00a0 No matter what level of income they have achieved, how many world championship rings they have acquired, or how many years they have invested in the sport, they must stay fundamentally sound and sharp to continue to play and win.\u00a0 And just to add a little pressure, there is always someone in the farm leagues, playing hard every day to take their place on the field.<\/p>\n<p>Real estate is NO different.\u00a0 No matter how many houses you have listed, how many transactions you have closed and how many satisfied, raving fans you have\u2026there is someone standing in the wings with the goal of dominating your market space.\u00a0 Game on!<\/p>\n<p>Let\u2019s take a snapshot of the fundamentals which we need to be focused on to continue to perform at the level desired with the income deserved.\u00a0 Each task\/topic should be practiced with the same relentless commitment and dedication as an MLB member has to Spring Training:<\/p>\n<h3><strong>The ABC\u2019s of Mastering the Real Estate Game:<\/strong><\/h3>\n<p><strong>Action and Accountability:<\/strong><\/p>\n<ul>\n<li>Craft and execute a written business plan which includes:\n<ul>\n<li>Vision Statement (know and own your \u201cWhy\u201d)<\/li>\n<li>Vision and Goals\u2014what do you want and when?\n<ul>\n<li>1-3-5 Year Written Plan<\/li>\n<\/ul>\n<\/li>\n<li>Org Chart\u2014How are you structured for success<\/li>\n<li>Determine what activities are necessary to hit your goals\n<ul>\n<li>Quarterly<\/li>\n<li>Monthly<\/li>\n<li>Weekly<\/li>\n<li>Daily<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Know your numbers\n<ul>\n<li>Review and adjust as necessary\n<ul>\n<li>Actual to goal<\/li>\n<li>Market of the moment<\/li>\n<li>Source of Sales\/Production<\/li>\n<li>ROI on all expenditures\/ventures<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>Secure an Accountability Partner\n<ul>\n<li>Broker\/Owner\/Manager<\/li>\n<li>Real Estate Coach<\/li>\n<li>Business Partner<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Build and Honor the Right Systems:<\/strong><\/p>\n<p>When you have mastered this step, the business should run itself.<\/p>\n<ul>\n<li>Building a marketable\/dimensional data base\n<ul>\n<li>Maintaining accurate, manageable content<\/li>\n<li>Consistent touch system<\/li>\n<\/ul>\n<\/li>\n<li>Building your business with the intent to sell\n<ul>\n<li>Executable plan of action<\/li>\n<\/ul>\n<\/li>\n<li>Following and honoring your written business plan\n<ul>\n<li>Engaging and incorporating the right software<\/li>\n<li>Developing and adopting best practices<\/li>\n<\/ul>\n<\/li>\n<li>Maintaining a process and procedures manual\n<ul>\n<li>Set it and forget it method<\/li>\n<\/ul>\n<\/li>\n<li>Adopting and exercising exceptional listing practices\n<ul>\n<li>Procedures<\/li>\n<li>Dialogs<\/li>\n<li>Marketing<\/li>\n<\/ul>\n<\/li>\n<li>Executing the perfect Buyer Consultation\n<ul>\n<li>Adopting and exercising strategic best practices<\/li>\n<li>Developing and executing scripts and dialogs<\/li>\n<\/ul>\n<\/li>\n<li>Consistently evaluating your market\n<ul>\n<li>Performance against market stats<\/li>\n<li>SWOT analysis<\/li>\n<li>Trends and opportunities<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Commit to Leverage:<\/strong><\/p>\n<p>Focus your time, energy and talent on income producing tasks<\/p>\n<ul>\n<li>Your Org Chart should be strategically designed to cover this fundamental topic which may include but not be limited to:<\/li>\n<\/ul>\n<ul>\n<li>Marketing<\/li>\n<li>List to Contract (transactional) tasks<\/li>\n<li>Contract to Close (transactional) tasks<\/li>\n<li>Errands and runner tasks<\/li>\n<li>Personal errands<\/li>\n<\/ul>\n<p>If it is not an income producing task, leverage the task and pay someone to do it.<\/p>\n<p>You must be willing to get out of the way and GIVE IT AWAY!<\/p>\n<p>But wait, there\u2019s more\u2026one last tip in the ABC\u2019s\u2026it\u2019s the D.<\/p>\n<p><strong>Don\u2019t Settle<\/strong>:<\/p>\n<p>Consistently self-discover and discern your highest and best self.\u00a0 As per NAR\u2019s survey of the consumer, what they desire most is an honest, trustworthy individual to guide them through the process of the real estate experience.\u00a0 Be that.\u00a0 Become the trusted advisor.<\/p>\n<p>*******************<\/p>\n<p>Without exception, the professionals whom have mastered the art of real estate are tenacious, resilient and committed to the industry and making a difference in the lives of others.\u00a0 For many years, we have known\u2026real estate represents the essence of servant leadership.\u00a0 First and foremost, thanks to those who serve for a job well done!<\/p>\n<\/body>","protected":false},"excerpt":{"rendered":"<p>As most of you well know, real estate is a living example of The Pareto Principle\u2026it would be safe to guess that less than 20 percent of the membership of NAR is doing 80 to 90 percent of the business (transactions) annually. So How?\u00a0 What sets them apart? They\u00a0master\u00a0their trade.\u00a0\u00a0 It\u00a0IS\u00a0that simple. Let\u2019s explore another<\/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-93","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\/93","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=93"}],"version-history":[{"count":1,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/posts\/93\/revisions"}],"predecessor-version":[{"id":94,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=\/wp\/v2\/posts\/93\/revisions\/94"}],"wp:attachment":[{"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=93"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=93"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kbconsultingsolutions.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=93"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}