A highlight from Real Estate Agents Proven Plan How To Make (at least) $100k In 100 Days! (Part 2)
Welcome to Real Estate Coaching Radio, starring award -winning real estate coaches and number one international bestselling authors, Tim and Julie Harris. This is the number one daily radio show for realtors looking for a no BS, authentic, real time coaching experience. What's really working in today's market, how to generate more leads, make more money and have more time for what you love in your life. And now your hosts, Tim and Julie Harris. Three, two, one, and we're back and today is day two and thank you for all the really wonderful comments on our show this week. We're talking with you about how to make at least $100 ,000 in the next 100 days. And so remember guys, ultimately this plan is going to require you doing what you don't want to do when you don't want to do it the highest level, but you can do it. Your is mindset going to be a being of service to other people and focusing on, for the next 90 days, accomplishing the goal. Now some of you, and what we're focusing on today, are the specifics of the numbers. So we're going to help you break down exactly what you need to be doing every single day and we're going to give you some suggested lead sources that will get you frankly the results the quickest. All of our plans and our primary focus of our coaching business. Now obviously we teach you guys how to build teams and market and social media and all that other stuff, but we also primarily want to focus on listings. That is really the heart and soul of a real estate business. It is the way that you're going to get the most leverage in real estate, it's the way you're going to have the most freedom, the most consistent cash flow, is being a listing agent. And there is a huge demand right now for listing agents with skills as many of you are learning in the marketplace because all the rules have changed. Effectively 24 months ago that rule of law got tossed out, tossed into the fireplace and the new rules emerged. Some of you have yet to discover the new rule book, hopefully you're discovering it listening to this podcast. So Julie, let's jump right back in where we left off yesterday. That's right. So this is the plan. How are you going to get to the goal? The goal is $100 ,000 in income to you in the next 100 days. We talked yesterday about based on the average sale price in the country, that that's going to take you eight listings. Why eight listings? Because the listings will generate buyers and other listings. So if you want to drill down on the specific goal, it's to get and sell eight listings over the next hundred days or less. But if you're listening to this and you didn't listen to yesterday's show, just so that you're going to be able to get a lot of benefit, the assumption was that the average sale price in the United States is $400 ,000. The average commission in the United States is $12 ,000. I know it's going to be up or down, adjust accordingly, and eight times 12 ,000 is going to equal roughly $100 ,000. That's the premise that we're working off of and we're making that assumption. Now, if you're in a marketplace where Julie's got coaching clients whose average sale price is over a million dollars and they're making an average of $30 ,000 per sale. Adjust accordingly. Adjust accordingly, right. And on the other end of the spectrum too, there's some listeners, maybe it's going to take you 12 or 15 listings, but that's okay. The point is to have a specific goal. So we're using eight because we have to use something and we used it based on the average that all of you are dealing with. Okay, so how are you going to go about doing it? This is where you take notes. You can scan down and get our notes right in front of you, but a lot of you guys like to write it down. So should we be, listen, listeners, this is really important. Why did we, why are we exposing some of you or in many cases reminding you of the same primary lead sources that we want you to focus on? Because that is where the most urgent business is going to be found. We do talk about in Premier Coaching, the passive lead generation, but you're going to find the consistency of cash flow and all the other things that come with consistent cash flow from focusing primarily on being a proactive lead generator and then reinforcing the proactive lead generation with your passive lead generation. And I'll just give an example before Julie gets to her first point is that, for example, you're going to call your centers of influence and past clients. Now if you want to enhance that, maybe you mail them. Maybe you mail them a newsletter. We've had lots of coaching clients have had a lot of success with that. Maybe what you do is you load them, you get all their contact information obviously and you put them in a Facebook campaign and those people that are your centers of influence and past clients are also getting daily videos or weekly updates from you about what's going on in the market. Just those people that are in your list are going to be exposed. But you cannot just do the passive stuff expecting to get the results that our statistics say you will unless you're doing the proactive stuff. And if you have to choose, dear listener, between making the phone call and having the conversation that we teach at Av and Premier Coaching or doing the digital media, the social marketing and all the rest of social media marketing, all the rest of it, do the phone call. It's going to get you the result the fastest. And cost you nothing. And cost you nothing. Okay, so that leads us to our number one lead source. We're going to do six today and we're going to do six tomorrow. So point number one is number one for a reason. You all have them, your past clients and sphere of influence or center of influence, otherwise known as your database. Statistically when you have regular and real conversations with your list, 10 % of your list will either do business with you or refer business to you each and every year. What would happen if you committed to speaking with 100 % of the people in your database this quarter? Don't get mad when another agent lists your past client if you're not making this effort. It's average of 10 % because if you're in a marketplace where the homes are primarily people that never sell, I mean look in your MLS for statistics, you're not going to get a temporary, and that's where your center of influence past client is, I mean like where you grew up, frankly Julie. Those people never move. I mean ever. Okay, they're in those houses for decades, right? But if you're in another area like Austin or something and you're focusing on some downtown condos, where people are younger and their family formation age, they're in their late 20s, early 30s, well you're going to get a lot more sales velocity out of those markets. So again, you've got to adjust accordingly. The way you can lean into the facts is learning how to use your MLS. Choose your centers of influence and past clients. That happens sort of organically, but you might find yourself in a marketplace where there isn't a lot of, frankly, sales momentum, where there are not a lot of sellers, where there isn't a lot of opportunity. So what should you do? I respectfully would suggest that you might move or, frankly, it's going to be a lot harder for you to build momentum. You're going to have to expand your horizons. This is something that we work with our elite coaching clients on a lot because we have to drill down and get to know them and know their market a bit. And it's okay. They can expand what they're doing. They can join different memberships, organizations, you know, upgrade their friends list. You know what I'm saying? Well, when Julie and I were selling real estate, we did not like our average sale price because it was the average sale price of Columbus, Ohio. And we knew that if we were willing to travel half hour or 45 minutes away, we can have sale an average price that was at least four and sometimes six X more, over a million dollars. So it took us three or four years and we got tired of beating our heads against the wall. We had to sell hundreds of houses to make the amount of money that we wanted to make every year to accomplish our goals. Or we could sell less than a hundred houses in this other market. Duh. So that's what we did. And you just took out a new elite coaching client. So shout out to Jennifer Wells and Hilton Head. If you guys have any business coming or going there, she's your girl.