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April 3, 2008

The 10 Systems of Success in Your Real Estate Career

For agents at every level, from those still waiting to complete their first transaction to those closing hundreds of transactions each year, success is comprised of 10 systems. Overcoming every challenge and all growth in your business only occurs through your skills and application with these ten systems:

  1. Planning - You need a simple way to set goals and manage their completion.  We call our method “Goals and Measurable Results.”  Our client’s annual goals are broken into initial appointments weekly and production in three categories recorded monthly. 
  2. Lead Management - Successfully managing the generation, capture, conversion, and retention of your leads is an ongoing challenge.  Whether you use contact management software or three by five cards and a paper calendar we coach a lead follow-up system and habit that relieves the pressure of all those loose leads in your life.
  3. Marketing - Most agents miss the boat on marketing, even those spending thousands of dollars on it.  What are your markets?  What message do you wish to convey to those markets?  And, what is your best method and media to convey that message to those markets?  How do you measure the effectiveness of your marketing and do you get a minimum 400% return on your investment? 
  4. Service - There is more business for you in great service than there is in great prospecting.  Our clients prove that, year after year.  What are the service systems that make you the most money?  Do you maintain consistent, scheduled communication with every listed seller and pending client?  Do you use a checklist or whiteboard for your pending actions and actively manage it daily?  Most importantly, do you keep your word? 
  5. Presentations - A real estate career in which you have complete confidence requires mastering your Seller Presentation, Price Reduction Presentation, Buyer Presentation, Offer Writing and Negotiating, and Property Showings.  Each of these has a structure, scripts, and a mindset for you to learn.  Learning them takes time.  The reward is confidence, skill, and results that make you a highly successful professional.
  6. Quality of Life - We say that your business should serve your life, not your life serve your business.  Days off occur when you schedule them.  Putting your health or your loved ones first occurs because you choose it that way.  One of our leading coaches and top Agent Rusdi Sumner says that once you are licensed everything is an appointment.  You turn your choice into your life by putting your health, happiness, and loved one's activities into your calendar, then keeping your word to yourself and others by honoring those appointments.
  7. Assistants and Teams - Between 30 and 60 transactions you reach a limit to your ability to grow your business by yourself.  To get past that point, you either add assistance or your business and/or your quality of life decline.  To grow past your transaction limit, you are challenged to learn and master hiring, training, delegating, and supervision.  These are the early skills of leadership.  Do you hire part or full time, for how many hours?  When do you consider a buyer specialist?  Should your assistant have client contact?  There are many decisions for high producing Agents that lead them to the next level and beyond.
  8. Financial Freedom - We discover that people in the habit of being broke stay broke regardless of increases in their income.  For those with this affliction you have to work directly to challenge and break the struggling mindset and habits so that as your production and income increase, your financial stability and freedom follow.
  9. Technology - Every Agent faces technology challenges; choosing a mobile phone or new computer hardware, choosing your level of web presence and web vendors, plus a myriad of hardware and software choices.  Every one of the above systems includes and is impacted by your technology choices.
  10. We are constantly challenged, as you are, to seek the technology tools and services that preserve your time and increase your profitability.  We are constantly discussing these tools and services with our clients and among our coaches to keep our knowledge up to date and offer the best possible suggestions to you.
  11. Self-Esteem - In our “Rich Levin’s Hierarchy of Success” model, Self Esteem is displayed as the foundation.  Success in your business and each of the individual systems rests on the strength of your self-esteem.  We work indirectly and sometimes directly on how you think and feel about yourself personally and professionally.  We teach two basic affirmations.
           Try these in the privacy of your mind.  “I like myself, unconditionally.”  And, “I completely trust my judgment.”
 
Each time you improve a skill in one of these ten systems that comprise your business, your career improves.  As you work continuously on one skill after another, you watch your results improve and your confidence reach new heights.  
(Rich Levin is a nationally recognized Coach, Trainer, and Speaker.  His specialty is working with top producing Real Estate Agents and Brokers taking them to their highest levels of production and performance in their business and their lives.  Rich Levin is President of Rich Levin's Success Corp. https://www.realestategradschool.com/)

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