Your First 30 Days in Real Estate (Part 2) – Defined Goals

defined goals

The Importance of Setting Defined Goals

The following blog was taken from episode 03 of #OfficeHours.

 

defined goalsStep #2: Set Defined Goals

In the first blog in this series, I shared my thoughts on the importance of mindset. Once you have the space between your ears working in your favor, the next thing you need to do is set defined goals. Because if you don’t set defined goals, what exactly is it that you’re chasing every day? If am training to run in the Olympics I should have a very defined goal. “I want to win the 100-meter dash”, not, “eh, I just want to go run.” Who’s more likely to be successful, the guy that says, “I’m going to win, and I’m going to run this time,” or the guy that says, “Eh, I’m just going to go run.” Understand that you’ve got to have a defined objective. This is all about discovering your “Why.” Everybody here got into real estate for a reason. Remember that every day. “It’s because you need to make more money.” That’s okay. The one thing that people don’t seem to openly admit is that “I’m getting into this business because I want more earning potential.” You can say it. That’s okay. This is a safe space. There’s nothing wrong with that.

Is it a Dream or a Goal?

If you set a defined objective that says I’m going to sell 12 houses this year, just one a month. A very modest goal to some, but now, it’s staring you in the face. Everything that you do this year is going to be building towards 12 houses. You’ll be amazed how much that matters relative to, “Eh, I just want to sell some houses.” It’s really hard to, “eh, sell some houses.” You’ve got to have a defined goal. Talk to a top agent. They’ll tell you, “My goal is to do this.” It’s either to become a top agent, or is it to gross this much in commission, “I want to beat Susie across the hall because she beat me for a top award last year.” As a top agent, they’ve got a goal. A goal is a dream with a time limit. You’re saying, “I’ve always wanted to make $100,000 a year. Now I’m saying I have to do it this year. I better put a business plan into action.”

A goal is a dream with a time limit

If you don’t have goals, it’s really just a dream. It’s very difficult, as somebody that’s running your own business in real estate, to just get up every day and say, “Well, I hope my phone rings today,” or, “Man, it’d be really cool if I just sold a house.” It’s going to be hard for you to reach the success that you may want, and the reason is that you’ve got to have a defined goal. So take pen to paper and write down how much money you want to make this year or how many houses you want to sell. Nobody has to know what you write. You look at that. I cannot help you succeed unless you have a defined

So take pen to paper and write down how much money you want to make this year or how many houses you want to sell. Nobody has to know what you write. You look at that. I cannot help you succeed unless you have a defined target because without a target, it’s very difficult to make it in sales. You know why? Because people need to be driven by a goal. What is it? So you need to decide what is the why. Why did I get into real estate? How much money do I want or need to make? That’s the ultimate end game here.

Monetary Goals are O.K.

It’s okay for that defined goal to be monetary. You’ve got bills to pay. If you’re going to be a full-time real estate agent and you’re leaving a job where you made a defined salary, well, at least you’ve got to replace that, right? Write it down. Then, you can start to build your plan. How many houses do I have to sell to at least make that amount? Step number two in your first 30 days is you have got to establish clear goals. One, get your mind right. Get the attitude of a successful real estate agent. We’re talking about your professional goals because that’s going to drive you day after day. Why did I get into real estate? That’s incredibly important.

So let me say it again, it is o.k. to have defined goals based on money. It doesn’t, and shouldn’t, be your only motivation necessarily but it is just fine to be part of the formula. Remember, at the end of the day this is your career. You want and need to make money to survive, support your family, enjoy your life. Therefore stop being shy about your money and start getting real. And there’s nothing that makes it more real than defining that number and putting it down on paper.

Watch the Full Episode on YouTube

What to Do in Your First 30 Days in Real Estate (Part 1)

first 30 days in real estate

Your First 30 Days in Real Estate: Part 1

This series of articles is for those that really want to succeed in the crazy business of real estate. Because I’m here to tell you, there’s not necessarily going to be that fast, easy money like some people think comes in real estate. It’s going to take some work. It’s going to take some time. It’s going to take some patience.

What I do have here for you go-getters is a five-step plan, just five things you need to do in your first 30 days in real estate if you want to make it. Please take out pen and paper, pull out your laptop and work a little split-screen action, or however the heck you choose to take notes –  because I’m giving you real stuff that you can put into place right away. This is actionable advice on what to do as a new real estate agent or somebody that wants to restart their career, in your first 30 days in real estate.

Step 1: Check Your Mindsetmindset real estate success

The first thing that you’re going to want to do, literally as soon as you get your real estate license, is you need to work on your mindset. You need to get your mind right! What I mean by that is you’ve got to understand that it’s a certain set of skills, but also personality traits, that most successful real estate agents share. You want to learn what those traits are and start to cultivate them right away. Because I’m going to tell you: your attitude, your mindset, your drive is going to matter as much, if not more, than if I gave you some magic three steps. You know, just do this, this, and this, and you’re going to make a million dollars. Well, obviously, we would all be very successful millionaires if it was that simple. So, you’ve got to understand that when you first start in the business, you have got to get your mindset right to tackle the real thing.

It’s all about your attitude. What you need to understand is attitude and how you approach the business, how you treat yourself, how you are ultimately entering your new career in real estate matters more than anything. Let’s say, for instance, is that if you’re a new agent let’s say right out of real estate school. What we’re talking about is your business plan for your first 30 days after passing the real estate exam. It’s your first 30 days, let’s make it count!

You’re New – So What?!

You’re new, and I’m going to tell you, it doesn’t matter. One of the things I want you to understand is getting the type of phrasing out of your system now, “I don’t know what I’m doing because I’m new.” “I’m too new.” “This other agent knows more than me.” “I don’t deserve this listing because I’m really just too new.” At what point are you going to decide, okay, I’m not new anymore? Because if you keep telling yourself, “I’m new. I don’t know what I’m doing. I’m new, I don’t know what I’m doing. I’m new, I don’t know what I’m doing,” the problem is, at some point, that’s going to become a self-fulfilling prophecy.

What I want you guys to understand is part of getting your mind right is having the confidence and believing, from day one, that you can succeed and that you are 100% capable of serving your client as their real estate agent. What I want you guys to understand is don’t assume that these other agents in the marketplace know more than you. Don’t assume that you don’t have enough information to be able to serve your client. You can kind of fake it till you make it at first, but your mindset is key. You’ve got to have the confidence to understand that you can do this.

At what point are you going to decide, okay, I’m not new anymore?

 

I’m Going to Fail…Wait Am I?

Think about your license exam. If you’re reading this, it’s likely you just passed your exam or you might be enrolled in a real estate class. What happens if you go into the testing center and you’re going, “I’m going to fail. I’m going to fail. I’m going to fail. I’m going to fail. I’m going to fail.” What are you going to do? You’re going to fail miserably because you’ve convinced yourself that you were going to fail!  It becomes a self-fulfilling prophecy. You are going to literally make yourself fail that exam. It’s the type of thing that I want you guys to understand, that what you believe about yourself is what you become.

You Have to Believewear your real estate dreams

You have got to get your mind right because you work for yourself now. You’re in sales now. You just started a real estate business. If you don’t believe in you, how is anybody else going to believe in you?! Sure it’s your first 30 days in real estate but that should not be stopping you from having the confidence to get out there and do it.

How am I going to hire you to represent me if you don’t even believe that you can do it? Therefore, it is critical that you start from day one, “I can do this.” You’ve got to have the mindset that “I deserve success, I belong in this industry, and that I can do this.” What I want you to understand is if you’re new, this is your first 30 days, it’s okay to make mistakes. It’s okay to not know what to do. It’s okay if you mess up. The idea of trying to avoid messing up or making mistakes by just hiding from it, what you guys need to understand is you’ll never get anywhere. Everybody makes mistakes. Everybody screws up. Don’t have this mindset like “I’m new, so I’m going to make mistakes and I’m going to screw up.” It’s okay if you do (legal and ethical matters aside). What you do is you learn. You either win in a particular situation, like you get that listing, or you learn from it. You never lose. You either win or you learn.

Please say it with me –  it’s okay to be new. Everybody must have their first listing appointment. You’ve got to have your first contract negotiation. You’ve got to have the first client that tells you to get lost! You’ve got to have the first deal that you thought you had clear to close –  only as it falls apart at the last minute. Your first commission check. Your first million dollars. Whatever it is, everybody’s got to have their first one, so don’t worry about it. You’ve got to start somewhere, so make sure you get your mindset right and you are confident and prepared for what’s coming.

You either win or you learn

I’ll say it one more time –  it’s okay to be new. Ask your broker, ask your trainer, ask your coach if you don’t know what to do. Let them help you out. It’s also important that you start to remember that you are a real estate professional, you have a real estate license. Respect yourself as a professional and others will respect you, too.

Tell Yourself the Right Things

An important piece of your mental mindset is that you’ve really got to start working on your daily self-talk. How you talk to yourself is going to really matter in how you’re going to work in this business. I strongly suggest that you begin the practice of daily affirmations. Write down on a piece of paper, pen, and a pad, write down, “I am an awesome real estate agent. I can do this. I’m going to make money in real estate.” You write it down and you sell it to yourself. You repeat it. “I can do this.” Every morning, first thing in the morning. Go in the mirror. Lock the door, nobody can hear you no matter how strange you think it sounds. Read your affirmation out loud, because you are going to believe it the more you say it. Your self-talk is big. I mean, how many times do you see somebody make a mistake and they say something like, “I’m an idiot.” No, you’re not an idiot. You made a mistake. You’re a human being.

Start monitoring your attitude and your self-talk. It’s really going to matter, because real estate is sales. You’re going to get told no more than you’re going to get told yes. You can’t let that kind of stuff bother you. If I send out a marketing piece to 1,000 people and only five people call me, but it’s five lock-solid clients, that’s not necessarily a failure.  I wouldn’t focus on the 995 people that didn’t respond to my mail. I’m thinking about the five that did. Really concentrate on how you talk to yourself.

You write it down and you sell it to yourself. You repeat it. “I can do this.”

Remember: Being New is O.K.

It’s okay to be new. Remember, we are talking about your first 30 days in real estate here! Get your mind right. Understand that this business is not supposed to be easy, but the first 30, 60, 90 days are the hardest part. It gets better. It gets easier in some ways. Once you start swimming in clients, you’ll have a whole mess of new problems that come along with success. Good problems, bad problems, really just different problems. More importantly, you’ll experience more success and more of the good stuff if you take the advice here and apply it to your life. You’ve got to remember this real estate thing is new to you. Don’t expect to be an overnight success. It might take a little bit of time. Be patient, be confident, and be prepared to work hard.

By the way, if you would like to watch the full video where Chris explains all of this just click right here!

Persist Until You Succeed – Your Story Begins

Persist until you succeed.

One of my favorite stories of how to persist involves the former President of the United States Theodore Roosevelt. You might know him as the tough, strong, versatile outdoorsman who was admired as much for his active lifestyle as he was for his leadership of the free world. The man was vigorous and he was enthusiastic, known for hunting bears and hosting boxing matches in the White House. He rode horses, lifted weights, skated on ice, rowed, and even gave a campaign speech after getting shot by a would-be assassin! When you look up “tough” in the dictionary you should expect to see his picture right there.

However, what many people do not know about Teddy Roosevelt is that he was not born that way. Not even close. His toughness, his active lifestyle, his strong body and will was earned with persistent effort over a long period of time. You see, Theodore Roosevelt was born to a prominent family but was a puny and sickly young boy. He suffered from terrible asthma, poor eyesight, and possessed such a thin body that he was picked on at school by his classmates. Although he certainly was smart and displayed signs of having a tough mind, his body was that of a weakling that was destined for a tough life of failures.

Around the age of 12, Roosevelt’s father gave him a very stern lesson. His father told him “you have the mind but not the body, and without the body the mind cannot go as far as it should.” So what did future PreTeddy Roosevelt persistsident Roosevelt do? He persisted. He worked on his body every single day for years, and continued that habit for the rest of his life. He worked on himself until he became the man that so many saw in the public eye, as strong and enthusiastic as ever. He lifted weights. He boxed. He learned to ride horses and he learned to row. Day in and day out his was on a mission to change his body so that it could take him where his mind wanted to go. He wasn’t born the strong and intimidating leader of which he became, but he persisted until he succeeded in ultimately becoming the leader of the free world.

Persistence is a Key to Unlocking the Success Formula

Surely you have heard phrases such as “nothing worth doing is easy,” or “fail forward.” There is a reason these quotes and phrases become cliches which are repeated over and over again. It is because they are true!

If you are beginning a new business, especially an entrepreneurial venture or a sales career in real estate then you should already understand that big success is probably not going to come easy. Sure, some of you have either been sold on or convinced yourself that the path you chose is for “easy money” or to “get rich quick.” However most of you know those things are not true in most cases (unless you win the lottery, of course!).

You will need to persist in order to succeed, and you will need to push harder and harder each day to reach the success you desire and deserve. Some days it might be easy, some days it might be hard. But every day you must remind yourself that you will persist until you succeed. You must tell yourself that a failure is only a lesson, and next time you will be the winner.

If at First You Do Not Succeed, Get Up and Try Again

Let me use the example of learning to ride a bicycle, for example. Unless you are truly some sort of prodigy, most of us were not born with the natural ability to hop on such a mechanical device with two thin wheels and just ride off into the sunset. First of all, if we sit on that bike without moving we are going to fall over! Secondly, we need to learn (many times the hard way) that it takes speed in order to balance that bicycle. Speed creates the physics which creates the balance which creates the confidence. However, I bet most of us had to fall off that bicycle a few times before we finally got it right.

But let’s think for a moment, what if you hadn’t tried again after your very first fall? What if when you were first learning to ride a bicycle that you fell and decided to never try again? Think of all the things you might have missed! The joys of riding around the neighborhood with your friends, or maybe taking a long ride with your parents and exploring a new part of town, or possibly even the joys of racing or participating in competitive biking down the road. None of that would have been possible if you would have given up after that very first fall.

You must persist. If at first you do not succeed, get up and try again!

The Reality of  a Sales Business

You are going to be told no, shrugged off, ignored, among many other things more often than you are going to make the sale. You will get more no’s than yesses, in all of their various forms. But I ask you – so what? Who cares about the no’s?  Who cares about the business you didn’t get? What I care about is the business that I DO get, and I understand how precious it is and how important each and every sale is to the promotion of a long and successful sales career.

But that is why you are going to persist until you succeed. You have a different path, the path of a great salesman and the path of a true success. You are not going to give up, you are not going to back down.

Let’s use real estate sales as an example. There are many ways you can generate leads for your real estate business. I mean tons! I literally teach you more than 10 in my Superstars 2.0 training class alone! So let’s say you are sticking your neck out and trying a new one – For Sale by Owners (FSBOs). The tried and true process of prospecting to those in your community who decided it was right for them to try and sell their house without a real estate agent.persist when calling FSBOs

There are many ways you can organize a prospecting plan to try and turn FSBOs into clients for your real estate business. Let’s say one of them is to pick up the phone once per week and call all of the FSBOs in your market area. OH NO! Not the phone! (that’s a subject for another day) And let’s say on this particular day you have 10 on your list, and you are going to sit down and use your training and call each of them to try and set an appointment to turn them from a FSBO to your client.

You call person #1 on the list and they don’t answer, so you decide to leave a detailed voicemail. Ok, onto #2. The second person on your list answers the phone and screams “you darn real estate agents, you need to stop calling me!” and hangs up. Ouch. Deep breath. On to #3. Even worse. The third person doesn’t stop there, they even decide to call you choice words that would make even the country club golfer blush! Double ouch.

Ok, you tell yourself, I made three phone calls. Each one is getting worse than the one before, so I am just going to stop. Obviously this list of FSBOs is not for me, and therefore I’ll just move on to something else. I can’t take things getting even worse here!

Later on in the afternoon, you run into a fellow new agent in your office named Mary. You exchange small talk, and then ask what Mary is up to. She is excited to tell you that she has two appointments with FSBOs later this evening that she is getting ready for and she is so excited! You might be happy for her, but you also want to find out how in the world she did it?! So you ask, “Mary how did you do it?”

Mary then explains that she had a list of 10 FSBOs from her market area, and she sat down and decided to call each one. “Man, the first few were ROUGH I tell ya” Mary says. “But I didn’t let it bother me, and sure enough #8 and #9 were very pleased to hear from me and asked if I could come over and speak with them tonight!” Hmmm. You ask to see Mary’s list. Of course, it is the same list you were working on! What’s the obvious difference? You decided to quit after person #3 was rude and cursed at you, and Mary just kept on and made sure to make every call on the list. Mary persisted until she succeeded, and you should always do the same.

Persist Until You Succeed

Repeat those words, repeat them daily. I promise you, with consistent effort and the positive spirit of persistence you will make it in whatever endeavor you choose. This is your life, persist until you succeed!!

 

The Success Formula as a Pie Chart

The Success Formula is something that I have been working on for a very long time. It is a collection of the true attributes, habits, and personality traits of those who truly find success in business. In this post, I am going to show you the basic breakdown of the main pieces of the formula itself. We are going to look at the asset allocation of a successful mind, so to speak.

 

Strategy + Psychology = Success

Everyone seems to be looking for the secret formula to success. I have had this conversation about a million times, “what do I need to do to be successful?” I have given seminar after seminar and taught workshop after workshop, and above all of the business strategies and techniques that I can offer — this formula alone is going to be your guiding light.  I am so pumped that I can sit down and put pen to paper and actually write it out for you so that hopefully we can scale and affect more of you out there who are looking to know what it takes to succeed.

When I talk about success, it could really be about any business or any aspect of life. From selling real estate, to insurance, or selling nutritional products or even makeup – it doesn’t matter your product or service it is the same guiding principles that will help you in all businesses. Actually, we can even take it a step further. Even if you aren’t selling anything but you just want to be happy and fulfilled – this “secret sauce” of success can help you too.

The Most Common Mistake

Do you want to know what the most common mistake most people make when considering becoming successful at anything? Let’s take real estate for example, and someone is starting out their career in real estate sales and wants to make it big. What do you think is the question they ask most often? Why do you think a real estate agent who wants to make $100,000 a year or more goes to a course from a guy like me or engages in coaching or training with a company like mine? More often than not, they want the silver bullet. That one simple idea or task I can give them that will help them close more sales and make more money. The problem is that there is no one silver bullet that will get you to success. There are many tools you will need in the arsenal, and anyone who sells you on or makes you believe that you just need to do “this one thing” is probably full of it. Sure, we have tons of really good ideas that can help your business grow tremendously. However, if you are looking for that one quick thing to get you over the top you just might be missing the point altogether.no way sign

There is no one simple task you can perform to be instantly successful. If you truly want a career, a business, a life worth living that will last – it is going to take time and it is going to take much more than just a 3 hour seminar and a list of things to do. Is a list of things to do or a proper business strategy important? Of course! However, it is not the only piece of the puzzle. In fact, I am going to argue that it is not even the most important piece of the success formula. There is so much more to it than that.

Your Success Asset Allocation

If you have invested any money in your lifetime, such as in an IRA or a 401k – you probably have heard the term “asset allocation.” If you are still too new to the world or just starting out, maybe this is something you have heard in passing but never really given it much thought because you are not quite there with your finances just yet. To keep it simple for those of you that might need to know, in investing asset allocation is the idea of taking your money and allocating it to various different types of investments. Therefore, rather than having all of your eggs in one basket (such as the stock market) you may also allocate some of your money to other investment vehicles such as bonds, real estate, or even just plain old cash such as a savings account.

So if we are going to think about the success formula, you need to understand that you have a limited amount of assets as well. Allocating your own personal resources to the proper channels is going to be critical to succeeding in business as well as in anything else. For instance, think about your daily routine now. You only have so much time, right? You only have so much energy, right? You only have so much effort and intensity you can give to something daily right? Good! That means you are human. What I want you to understand about the success formula is that allocating your resources in the proper percentages from one bucket or another are going to be massively important in your track to being successful in real estate or any other business.

In fact, we discussed this very thing recently on my weekly YouTube show #OfficeHours. Click below to see the discussion!

The Secret Success Formula of a Champion

If you truly want to succeed in business, any business, such as real estate then you need to allocate yourself appropriately. Therefore, I am going to reveal for you the most important part of the formula that almost everyone leaves out. I will say it again, this is the most important piece of the formula and most people just plain don’t consider it as a part of their plan at all!

Having the right mindset, the right attitude, the right emotion towards your life and your career is the most important part of the success formula. I have written about mindset before, such as in this post where I talk about the winner’s mindset. In other words, the strategy doesn’t matter if you don’t have the right psychology. As I mentioned earlier in this post, if you only want the silver bullet to success (strategy) it is much more like a “get rich quick” mindset rather than the type that is truly going to set you up for success. Without the right mindset, the strategy may not matter at all. Let me give you an example:

Let’s say that I take a salesman (let’s call him Bob) and give him the golden sales playbook for success. You got it, the ultimate strategy. I show him exactly what he needs to do, every single day, lay it out for him on a silver platter. However, there is just one problem and that is Salesman Bob is a self-absorbed jerk. Bob wants to make lots of money, drive fast cars, have fancy watches and have everyone in town marvel at how rich and successful he has become. Bob wants it all, and he wants it now which is how he came upon this golden playbook for success.

However, when it comes down to the critical sales appointments he continues to fail. During many appointments, Bob gets frustrated and cuts potential clients off mid-sentence. He tries to “set them straight” because obviously they don’t understand. He is the expert, after all, they need to be listening to him! Appointment after appointment he fails to close the sale, and even leaves on bad terms with these potential clients whom he expertly sought out and nurtured using the playbook. But what Bob is missing is the right mindset, and Bob lacks the emotional intelligence in order to deal with people properly. He is quickly hated by the community and gains a reputation as a sleazy salesman, and soon is back in school changing his degree and amassing more student loans so that he can get into an industry where he may not have to sell to anyone ever again.

success formula good and bad

Now let’s contrast Bob with Salesman Suzy. When it comes to business skills and strategy, let’s just say that Suzy is new to the game. She is fresh out of school and is still learning the ropes. However, when it comes to dealing with people Suzy is just the best. Always thinking of others first, she is the type of person that asks a lot of questions. She listens carefully to the other person’s answer. She understands problems that people are having and likes to help people solve them. Everybody loves Suzy, and she wakes up every day happy and fresh and looking forward to the day ahead. Suzy is killing it as a new sales associate at her firm, even though she really doesn’t know much about sales. But within just a few short months, each of her new clients is referring her to more and more of their friends and family because of the experience they had in doing business with Suzy. In other words, her meetings were so pleasant and enjoyable that her clients were becoming advocates and marketing her services for her! After the first year in sales, Suzy was given a raise and a bonus while Bob ended up leaving the firm.

The lesson here? Without the right psychology, the mindset, the understanding of how to deal with people and yourself the strategy just doesn’t matter. It doesn’t! Unless you are selling stocks or something else in a faceless computerized environment, eventually it is all going to catch up with you.

What Bob needed was to take the playbook, implement the strategy, but then begin working on the most important part of the formula – himself. If Bob only cares about Bob, if Bob only cares about money, and if Bob has that distinct aura of arrogance that comes with someone who thinks they know it all – he is not going to make it. Suzy was either born with or truly understands the success formula as it needs to be implemented. It is truly about how you treat other people, listen to their needs, and react to the world around you as if it is happening for you and not to you!

Remember this, if you want to success in real estate or any other business you need the right formula. The secret formula to success looks like this:

The success formula as a pie chart:

Mindset and Emotional Intelligence (Psychology) – 85%
Business Plan and Tactics (Strategy) – 15%

 

 success formula pie chart