Your Plan

Before you put your plan on paper, it is important to take a little time and determine where you are going to go with it.

Successful people have several things in common when it comes to putting a plan in action.

1.Have a crystal clear vision of what you want your business to look like. Who do you intend to serve? First time buyers, move up buyers, investors, sellers, etc… How do you plan to market your services? Will you do all the work or hire an assistant?

2.Acquire the specialized knowledge required to work with the market you have chosen. Again first time buyers, move up buyers, etc… Remember, others have gone before you. You are not the first person to sell real estate, and those people have blazed the trail for you. You do not have to reinvent the wheel. Find the knowledge you need to work with that investor and copy it. That’s right, just do the same thing they did to be successful and you can be successful too.

3.Always maintain a positive attitude. When you start to doubt yourself you are doomed. Stay away from those people that are doom and gloom types. If you believe it then it is possible.

4.Be decisive. Figure out what you are going to do and do it. You can spend your whole life getting ready but unless you pull the trigger and FIRE, it’s always ready, aim, aim, aim. And you can’t be successful unless you act.

5.Surround yourself with other talent. Create an alliance that can help you in your business. People that can assist in your marketing and help brainstorm new ideas. A lender, an insurance agent, a handyman. These business people compliment your business and they can refer clients to you, but you must remember to refer to them as well.

Before you get all excited about how smart Rick is for coming up with all this, I must tell you that even though it may appear that way, I am not the all knowing guru. These pearls of wisdom came from Napoleon Hill, the author of “Think & Grow Rich.” His many years of study concluded that successful people had things in common that could be duplicated and learned by anyone. If you want success, model yourself after others that have led the way. I know it sounds like a piece of cake, but you must be willing to implement the ideas. You can’t just read it, you must act. But at least you don’t have to re-invent the wheel. Click the image below to get your copy.

Building your Database

Develop Your Sphere of Influence

You should have already started building your database by making a list of everybody you know, your sphere of influence. These people already have a relationship or association with you and may already trust you. These people are the first group you should prospect to, to increase your chance of jump starting your business.

Some suggestions for your list are:

Family
Friends
Neighbors
People from school
People you do business with (doctor, dentist, grocery store)
Sports groups or hobby groups
Employers, co-workers, customers
Organizations you belong to (PTA, etc...)

You must also have a way to manage the contacts you have. Contact Management Systems(CMS) can be very simple or very complex. They can be as simple as a file box system or, if you have a little money you can computerize your database and contact management. A great place to find more info and compare CMS is http://garydavidhall.com/

Now that you have started your database and are contacting those people on a regular basis (more on this in the next issue), you must continue to build your list DAILY. Not once a week or every other Tuesday, DAILY. We all have a tendency to get caught up in life and if you do not prospect and continue to build your database you will find yourself looking for another line of work. Build it daily!

Niche Marketing

If you look at the marketing that most agents are doing you will find that they try to be everything to everybody. I'll list your house, sell your house, help you buy a house, work with you as an investor and on and on. We are tempted to try and capture the entire market.

But think about it, can you truly be an expert on everything? You would be better off if you figure out who you want to work with and focus the majority of your marketing efforts on those people.

But who are they? You need to figure out your focus area. Start by making a list of all the different groups you belong to or connections you have to people. Do you want to work with sellers or buyers? Military relocations or a certain school district could be your focus. If you are going to concentrate your efforts on a specific subdivision now you need to know everything about it. What are the homes like, who were the builders, price ranges and sizes, market statistics, etc...

Next you have to develope a marketing plan. In addition to becoming a neighborhood expert you need to find out how to reach those people. Join the Home Owners Association or the PTA, and develope your marketing materials to address local concerns specifically. Make your content memorable. People won't call you for their real estate needs unless they remember you.

Commit to contacting your market 2 to 3 times a month for the next year. If you can't afford to mail out that many times then make your list smaller. Consistency is the key when establishing yourself as the local expert.

Lead Generation

Many people get into real estate thinking that all they have to do is get their license and sit back and watch the money roll in. Well, if you haven't gotten your license yet, think again. And if you have your license you have probably realized by now that people aren't pounding down your door trying to give you money.

Having a real estate business is all about lead generation. You must generate new leads every day if you want to be successful. New agents come out and, if they are given the right guidance, they prospect consistently until they have generated a seller or buyer contract or two, but then they get busy dealing with inspections and title stuff and they forget to prospect.

Bad move! Remember, the clients you get today result in a paycheck in the next month or so.

Stay focused, prospect daily and set yourself up for success. For prospecting ideas, sign up for my business tips newsletter.

The Will to Succeed

What does it take to be successful in Real Estate?

A positive attitude..No one wants to work with a negative person.

Persistence...People will tell you no multiple times before they say yes.

Determination...You have to believe, "Failure is not an option"

Focus...There are many things trying to distract you from your goals.

Strong Work Ethic...The greatest thing about real estate is you are your own boss. The biggest drawback about real estate is that you are your own boss. You have to have the strength to get up and get busy.

Visit often or subscribe for tips to help you build your real estate business. Until next time...