Is Having a Paycheck Hindering Your business?

Real estate agents don’t earn a paycheck.  We get paid based on our efforts and when our transactions close.  We work, in many cases, five to seven days a week to produce leads that generate buyer and seller transactions that turn into a commission check, not a paycheck.  A paycheck is what some gets after completing a job for their employer.  And usually after working a 40-hour work week.  Full-time agents work 60+ hours a week and many of those hours happen when our client’s workdays end.  Therefore, we are often out until 8’clock at night.

Real estate agents are independent contractors not employees, this means we work for ourselves under the sponsorship of a brokerage.  We get paid by our sponsoring brokers after we close on a real estate transaction.  I was recently at a convention where I had the opportunity to network with Dr. Danette O’Neal, a REALTOR University professor.  We talked about the power of need vs. want.  When you need a paycheck it’s hard to focus.  When you don’t need a paycheck it’s easier to focus on the goals for your business. Dr. O’Neal Said, “There is a difference between people that want money and the people need money.  If you focus on the want, you’ll forget about the need.”  Even then it’s hard to focus on wanting income when you need an income to pay your bills.  This can often be hard to overcome, that’s why we have agents with part-time and full-time jobs.  The idea of working for hours or days without a paycheck is difficult to handle.  Therefore, the power of having a paycheck can hinder or hurt an agent looking to become a full-time in the business.  So how can someone go from need to want and become successful in real estate?

  1. If you are working a regular or part-time job, learn the business of real estate. Take as many classes as you can to master the real estate business.
  2. Practice the steps to home ownership with your friends and family.
  3. Show homes every weekend to a friend or family member. Tip: try to show vacant homes.  This way you don’t inconvenience someone living in the home.    Please make appointments.  Note: You can never show a home without permission.
  4. Learn the lending industry. No, I don’t mean take classes to become a loan officer, I mean meet a lender for coffee and have them explain a specific program to you.  Attend a lunch and learn with your local mortgage company. Learn the difference between, FHA, VA and conventional and why a buyer may need to use one loan over the other.  You are not replacing the loan officer but understanding the process so you can better serve your client.
  5. Practice listing a home. Do you know how long it takes to process a new listing or how long it takes to prepare for a market analysis?
  6. Go on broker tour. The benefit of touring a neighborhood helps you understand, how to use the lockbox, what the homes look like in the area and networking with other agents.
  7. Set goals, how many buyers will you work with this year? How many sellers will your work with this year? Write down your goals and put them in a place where you see them daily.
  8. How many people do you need to speak to daily to reach your goals? How much engagement do you need to generate leads from social media?
  9. When you start closing transactions, make sure you save money to eventually go from a part-time agent to a full-time agent. 

The power of a paycheck will either keep you from selling real estate or help you sell real estate.  If you currently receive a paycheck, live beneath your means, save money, and master real estate.  If you focus on what you want with your goals in front of you, you will be come a successful agent.  Nothing comes easy, remember you must get up, get dressed and work the real estate business.  Don’t wait for real estate to happen to you, make real estate happen for you.

Follow me on  instagram – Carrie Jo Little, BS,MS profile and download your first 6 weeks in real estate found in my profile.  Check out my IGTV videos as well.

 

From Chaos to Lead Gen

2003 was the year I was exposed to one of the best lead generating conferences available to real estate agents.  The event was two days with hundreds of agents from all over the United States.  One of the breakout sessions included focusing on where you are in your business.  The speaker said, “Are you living in Success, Stability or Survival?”  I was shocked to discover that I was operating my business and my family life in Survival mode.  Chaos was it!  I was moving without purpose.  I had to change my thinking, what I was speaking, what I was reading and learning.  Are you living in Chaos, #Survival?  If you said, “yes”.  I have a plan for you.

 

Going from Chaos to lead generation will look different for each of you.  In order to change my life and business I begin to see myself in my new position and life.  Positive confessions do work.  I am not here to change your beliefs, this is what worked for me.  I started reading the bible, books on success and determining to learn something new every month.   When I determined to get back on track my revelations included:

  1. Know your purpose – If you have a purpose for your life it’s easy to get up in the morning and get to work. Purpose is the one thing that makes you get up in the morning.  The one thing you have to live for.
  2. Start speaking what you want in your life. In 1995, I watch a speaker, Bob Harrison, speak and motivate others to reach their dreams.  After hearing him speak, I begin to say that what he was doing is what I will be doing one day.  Today is that day.  I have the opportunity to motivate and educate real estate agents and other industry professionals.  Write a list of things you will accomplish and state them daily.stop-3089945_1920
  3. Write down your goals. If you can’t see it, you won’t achieve it.  Write your vision and make it plain.  There is truth in writing your goals on paper, a vision board or in a place where you can ready your goals daily or as often as possible.
  4. Have a plan for your business. If you are a real estate agent plan your day, week, month and quarter.  What will you do to generate leads, follow up with clients, and track your business?
  5. Build a success list. When you reach a new goal tell someone and check it off the list.  Build your success list so it’s achievable.  When you reach your weekly, monthly and annual goals moving forward becomes easier.
  6. Track where your business comes from. Know where your business comes from so you can perfect it or make changes to make the lead generation process easier.
  7. Review your goals and adjust when necessary.  Change is inevitable.  Reinvent your business and stay ahead of the trend.

Today, I am a successful speaker.  Businesses and Organizations reach out to me for services. I’ve been invited to speak nationally, state and local levels.  Years ago I wrote down my vision and began to see myself educating others.  Now it’s your turn.  If you believe it, you can achieve it.

Get on the road to lead generation for your business.  Start believing that you will be successful.  Get the negative talk out of your life and see yourself as a successful entrepreneur. Are you living the life you expected?  If not, start seeing yourself as a lead generator, see yourself with clients, and see yourself as a successful agent or entrepreneur.   Take negative talk out of your vocabulary.