PROView - March 2009 - (Page 5) ? ? embracing short sales, foreclosures and REOs rather than running from them. If you limit your business to only doing what has worked in the past, you will soon be out of business. 10. Be disciplined and create a schedule of discipline The difference between those who are average and those who have stellar success is simple. Average people do what they want to do. Massive success comes to the few who are willing to do what they don’t want to do. In good times the market sets your schedule. In times like these you must create a schedule that keeps you motivated, on track and productive. 11. Watch your money, profit is determined by expenses, not revenue. Most real estate professionals focus exclusively on the amount of income generated. The quickest route to profitability, however, is to slash expenses. 12. Every dollar spent must generate a return. For each dollar you spend in your business, it must return $1 plus a reasonable return. For example, if you’re spending $5,000 in print marketing, ideally it would yield at least $20,000-$30,000 in closed business. 13. In this market the differentiating factor will be knowledge, your knowledge. Training and education is the first place many people cut in a downturn. The secret to success in this market is to focus constantly on learning. This gives PINELLAS REALTOR® ORGANIZATION you a huge competitive edge against those who cut back on training and education. 14. The #1 ability of top-performing agents is lead generation. There are plenty of agents who are good at paperwork, showing properties, going on presentations, negotiating deals, and handling transactions problems. None of these skills matter, however, until someone generates a lead. Bottom line -- lead generation must be your primary focus every single day. While you can delegate other activities, never delegate your lead-generation activities. 15. Talent is overrated. Some people seem to be born to be in sales. While it’s true that certain behavioral profiles are more suited for sales, the difference between success and failure is deliberate practice. Your knowledge of scripts and dialogues, market conditions, plus strong lead generation, lead conversion and negotiation skills, will make or break your business. 16. Prospecting works better than marketing. Most agents rely on passive marketing. The consumer sees your marketing piece and may decide to contact you. Prospecting, in contrast, means that you actively seek buyers and sellers. The best venue is still face-to-face, including calling on owners of expired listings, for-sale-byowners, or keeping in regular contact with your referral database. March 2009 5
Table of Contents Feed for the Digital Edition of PROView - March 2009 PROView - March 2009 Contents Chairman’s Notes Feature Story PROActive Marketplace Analysis Home Sales Report MLS Update Mind Your Manners Calendar of Events & Programs Brokerage Design PROView - March 2009 PROView - March 2009 - PROView - March 2009 (Page Cover1) PROView - March 2009 - PROView - March 2009 (Page Cover2) PROView - March 2009 - Contents (Page 1) PROView - March 2009 - Chairman’s Notes (Page 2) PROView - March 2009 - Chairman’s Notes (Page 3) PROView - March 2009 - Feature Story (Page 4) PROView - March 2009 - Feature Story (Page 5) PROView - March 2009 - Feature Story (Page 6) PROView - March 2009 - Feature Story (Page 7) PROView - March 2009 - PROActive (Page 8) PROView - March 2009 - PROActive (Page 9) PROView - March 2009 - PROActive (Page 10) PROView - March 2009 - PROActive (Page 11) PROView - March 2009 - Marketplace Analysis (Page 12) PROView - March 2009 - Home Sales Report (Page 13) PROView - March 2009 - MLS Update (Page 14) PROView - March 2009 - MLS Update (Page 15) PROView - March 2009 - MLS Update (Page 16) PROView - March 2009 - MLS Update (Page 17) PROView - March 2009 - Mind Your Manners (Page 18) PROView - March 2009 - Calendar of Events & Programs (Page 19) PROView - March 2009 - Brokerage Design (Page 20) PROView - March 2009 - Brokerage Design (Page 21) PROView - March 2009 - Brokerage Design (Page Cover3) PROView - March 2009 - Brokerage Design (Page Cover4)
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