Outperforming the Market | 5 Key Points for Real Estate Sucess

Outperforming the Market | 5 Key Points for Real Estate Sucess


– Hi everyone, Richard Robbins here. Well, I gotta cool video I’m creating and it’s called Outperforming
the Marketplace. I’m gonna give you five key points. Now, the reason I’ve done this is because I had a call with
the coaches not long ago, as we do on a regular basis. And there’s many markets, across Canada and even some in the US, that are changing, okay? They’re starting to change a little bit. Not all markets, but some are changing. Now if your market isn’t changing, this video might not be for you. Or you might watch it anyway because there’s still
some pretty good content that I think would work
in any marketplace. But this video is geared towards markets that are changing a little bit, where inventory’s going up and maybe sales are off a little bit. And when I was talking to the coaches, they said that a number
of members are struggling, not knowing what to do. They’ve never experienced
a changing market. So I thought to myself,
let’s throw a video together. Let’s get it out to as
many people as possible and hopefully this will be helpful to those people that
are trying to figure out how to outperform the market
as the market is changing. So key point number one. The first step to outperform the market is we need to face reality. We gotta face reality as it
is, not as we wish it was. Here’s what happens. A lot of people, they stick
their head in the sand and they go, “Oh boy, the
market’s a little bit off. “Well, I’ll sit at home and relax. “I don’t wanna panic,
you know what I mean? “It’s gonna get better in the spring.” And let’s face it, that might happen and let’s hope it all does happen. But the challenge there is
you’re not facing the reality, or at least you’re not doing
anything about it, right? So think about this. If you looked at your marketplace, and let’s say your marketplace
was off by 20% in a month, in a quarter, whatever the case is, and then compare that to your business. Your business is off by say,
20% or 15% or maybe 25%. Well if you continue to do the same things and the market doesn’t change, what’s gonna happen to your business? You’re gonna come in way under goal, and that’s not what you wanna do. See, truth is a discovery of reality. And to ignore the truth
doesn’t change the truth. But also, think about this. Guess what you can’t do? You can’t change the market,
you can only change you. See, the market doesn’t have
to determine your success. The market doesn’t have to determine how many sales you’re going
to do every single month, only if you let it. So let’s move onto step number two. What we wanna do is we
wanna double our output. Now, what is an output? Well, an input is what you want coming in. They’re the results
that you wanna produce, the amount of sales, the amount
of listings you wanna take, the amount of buyer sales you wanna have, listing sales, price
reductions, whatever it is. That’s sort of what you’re trying to do. But to get that, we’ve gotta
put out, you know what I mean? We’ve gotta go out and
we’ve gotta work for that. It’s like this. If I wanna have more energy, I’ve gotta give my body exercise. You wanna make more money, you gotta bring more
value to the marketplace. You gotta talk to more people, right? You gotta do a better job. So what about doubling your output? Now, let’s look at this. Here’s some things you could double. What about doubling your
calls to your database? Now, maybe right now you’re not doing any, and then double would still be zero. I don’t know if you know that or not. But pick a number. How many people should you be talking to every single day? Get in the game. What about texts? Are you sending texts
out to people and saying, “Hey, you probably know “the market’s been changing a little bit. “And I just wanna reach
out and let you know “if you want me to stop by and
provide an opinion of value, “let you know what’s going on, “I’m here to help in any way I can.” What would happen if you made five calls to your database every day, and then you send five texts out every day with something like that? You know what I mean? So it’s not salesy, but
you’re just offering service. What about this? What about BombBomb videos? What if you did some
BombBomb videos every day, maybe five of those as well? And you send those videos
out to your clients, to your database, to people you know, to maybe buyer leads, to
maybe seller leads, you know? And you send them out a little video because when they get a video in an email, there’s a much stronger possibility they’re going to read that
email and open that video. And now they see you’re
doing a little bit of work. So imagine this. Five calls, five texts, five videos, that’s 15 per day. Maybe you should do 10, 10, and 10. Because if your business is off, this is what you gotta start to do. Open houses. Double, triple the amount
of open houses you’re doing, and all marketing efforts. So whatever it is you’re doing, say you’re doing a bunch of Facebook Live or you’re doing some videos
you’re posting on social media or Instagram stories. So take all of your marketing efforts, whatever you’ve been doing in the past that is producing success for you, go back and think about it. What are the outputs, the things, the behaviors, the actions
that I take every day, that have been producing
results for me in my career? And then get very strategic and say, “I need to double those.” And then start setting specific goals on what you’re gonna do every single day. Okay, step number three. What you wanna do is you wanna track all
output or outputs, okay? It was interesting. When we were having this
call with the coaches, coaches were all throwing ideas out. And by the way, that’s where
most of these ideas come from. And one of the coaches said that she could never
get one of the members to track their daily activities. Like, the things they’re
doing every single day. So the coach said, “Listen, “there’s one thing you gotta start doing. “You gotta start tracking.” So this member started tracking. And you know what the member discovered? They weren’t doing very much. See, that’s the power in tracking. When you track on a
regular basis your outputs, you start to see what it is you’re doing or maybe what it is you’re not doing. See, Peter Drucker, he said, “What we measure gets improved.” Now think about this for a moment. If you were trying to lose weight, would you be better to
weigh yourself every day, every week, every month, or every year? Now, pretty simple answer, right? You’re better to weigh yourself when? Every day. Because if you weigh yourelf every day and you happen to see that, you know, maybe you’re sitting at a weight that you’re uncomfortable with, that would probably cause you to have different behaviors that day. So in other words, you probably maybe
wouldn’t eat quite as much. Maybe you wouldn’t have the dessert or whatever the case is, right? But because you’re aware
of what’s going on, then it’s gonna change your behavior because awareness is the
first step in change. We gotta make ourselves aware. Now, some people won’t get on the scale because they don’t wanna now. Now that’s okay, that’s totally up to you and how you wanna handle it. But if you wanna start
performing at a whole new level, what you gotta start to do, you gotta start to track what it is you’re doing on a daily basis. So what is your goal? How many calls? How many texts? Okay, how many videos? How many open houses? How many whatever it is you’re going to do to produce results? And then what you wanna start to do is you wanna start tracking them and see how you do against the goal, because at the end of the day if you wanna make five calls
and you only made three, chances are the next day you’re
gonna do a little better, you know what I mean? Maybe you can get to five,
maybe you’ll get to seven. But here’s something that I use. This is an app that I use. It’s called Momentum. Now, I think I paid for it. I don’t remember now, but if I did it was maybe $4.95 or $7.95 or whatever it was. But what I do is I track my behaviors. And in momentum, what I can do
is, you know, say five calls. I could check it off, I did it. Okay, five texts. Check it off, I did it. Five videos, check it off. Exercise, done, right? Whatever it is that you
wanna do on a daily basis that will help you produce great results, start tracking it in Momentum. And what’s cool about
Momentum is what it does now, it shows you how many days in a row, okay? Or you think about it,
you’ve got something moving. So all of a sudden, you’ve
got this momentum going because you’re on a roll. You’re gonna start to
feel good about yourself. You’re gonna be excited about
what it is you’re doing, and it’s gonna encourage you to do more. Or get somebody to hold you accountable, whatever it is you need to do. But one thing you’ve gotta start to do is you’ve gotta track your activities, track your behaviors, track your outputs, whatever you wanna call it. So let’s move onto step number four, is called be intentional. Now, what do I mean by that? I mean that you wanna be intentional about setting appointments. So think about this. All of the activities you perform, all the lead-in activities your perform, all the lead follow-up
activities you perform, all the calls you make,
all the texts you send, all the videos you send,
all the things you’re doing, what should be your intention? Your intention is to set a
face-to-face appointment, because unless you get face-to-face nothing is going to happen. It’s not just about
having a communication, going back and forth. So when I say intentional, what you wanna do is every text, every call, every communication, you wanna make sure that
you’re thinking about, should I be getting
face-to-face with this person? Maybe you can get somebody out and you can show them a house. Maybe what you can do is you
can price a house for somebody. Maybe you can do a listing presentation. Maybe you can meet with a new buyer and talk about how you can provide a high level of service for them. And they’re really the four
appointments you wanna focus on. So always be intentional. And the reason why is because
when you’re intentional, now you’re gonna be setting a goal. So what would be your goal? And you decide, because remember, behaviors, outputs are
behaviors that are actions. And all those actions
should lead to a what? A result. So what is the result you wanna get? So you’re gonna perform all
these actions every day, the outputs, but then you have to have a
goal in terms of a result. So what I would say is at least
set one appointment per day. Think about this. If you set one appointment
per day, five days a week, you don’t have any financial
challenges in your life. It doesn’t matter what’s
going on in the marketplace. Now, maybe some of you’ve got large teams and you’re gonna set this at two, you’re gonna set this at three, whatever the case is. But every morning when you go to work, set your intention. And what is your intention
the minute you start work, is to set a face-to-face appointment. Because when you get together
in front of more people, you’re going to do more business, no matter what is going on in the market. So let’s move onto step five. Okay, step number five
is what you wanna do is you wanna qualify all
prospects for motivation. Now, why is this? What happens when a
market starts to shift? Sometimes what happens, we have more listings come on the market. Our inventory starts to rise, people start to compete to sell. If you think about it, it becomes somewhat of a price war and a beauty contest to
get a home sold, right? And they’re not all gonna sell. Less homes are going to sell because you’ve got more inventory and you’ve probably got less buyers. Well, that means that if you list a house and that house doesn’t sell, you spent time and money
marketing that house and you didn’t get paid. Not a good thing. That’ll put you out of business. Now, chances are you’re probably
gonna carry more listings, but the secret is you wanna make sure you’re working with sellers
that really want to sell, not people that are testing the market. Think about this. If people are testing the market, is their price gonna be high or low? It’s gonna be high because
they don’t care if they sell. There’s no motivation, right? But if somebody has to sell a house, maybe they bought a new home and their new home is closing. They’ve been transferred. Maybe they need to downsize, they don’t need all the space. Maybe there’s financial challenges, whatever the case is. Maybe their family is growing and they need something bigger. That’s motivation. They’re the type of people
you gotta be working with, because think about buyers, the same thing with buyers. You know, buyers in a changing market, maybe rates are creeping up a little bit. They see a lot of for
sale signs out there. They go, “Prices must be going down. “Let’s take our time. “There’s no rush anymore.” And by the way, the market
before was totally different. You phoned up a buyer and said, “You gotta look at this today. “If you want it, “you’re gonna have to put
an offer in tomorrow.” And then there was like, 16 offers. You know, one person won,
15 people lost, right? That was difficult. Now they go exactly the opposite. They go, “Well, we’re in no rush. “We’re gonna get a really good deal.” So what you wanna do is you wanna find buyers
that are motivated. What’s their reason for buying? So here’s what you wanna focus on. You wanna focus on where, when, and why. So ask all of your prospects when you’re meeting
with a potential seller, or maybe do this on the
phone before you go over. When you’re meeting with a
buyer, ask them these questions. You know, “I’m really curious. “Where are you moving to?” “Boy, we’re moving over here.” “Great. “When do you wanna moved by?” “Well, we’d like to be moved “in the next four or five months.” And then you can say, “Well, I’m curious. “Why are you moving?” Now if they have a when
and they have a where, they automatically have a why, right? They’ll tell you the why. But think about this. If they have no when
and they have no where, then they need to have a why. So in other words, “Where are you moving?” “We’re not quite sure yet.” “When do you wanna be moved by?” “Doesn’t matter, no big deal.” You might say, “Well, why are you moving?” “Well, actually we’re getting divorced.” So they have no when, they have no where, but now they have a why. And actually, you have
two leads instead of one. That’s a good thing as well. But anyway, we won’t get into that. So I’m just saying that
as the market changes, because remember when a
market’s really, really busy sellers are getting a
fortune for their house, they’re all excited, they’re getting over list price. Buyers are self-motivated because they know if
they don’t get in quick and put in a very good offer, they’re probably not gonna get the home. But also when the market starts
to shift, the rules change. So what you have to do is make sure you’re spending time with people that are motivated. Now as I close this up, I wanna say none of
this is rocket science. You know that. This is what I call the basic
fundamentals of success. The challenge, when a
market gets really hot for a long period of time,
which some market experience, and now they’re becoming more balanced, what ends up happening is
we get a little bit lazy. We don’t have to motivate buyers, they’re self-motivated, right? Every time we have a
conversation with a seller, it’s a good conversation because they’re getting a
fortune for their house. Now all of a sudden, the
relationship changes. We’ve gotta motivate buyers. We’ve gotta help them see why their house is a good house for them. We’ve gotta get them to
make a reasonable offer so they can get the home. We gotta have difficult
conversations with sellers now, because now we gotta tell them the truth. We’ve gotta like, pull
the bandaid off, right? You gotta start showing them their competition that’s on the market. Maybe you need to take them out and show them some of the competition, so they can see where they need to price so they actually can get their home sold. So you move from becoming
somewhat of an order-taker to becoming a great salesperson. And it’s the great salespeople that are going to outperform the market like they’ve never done before. But keep in mind, they key is this. This isn’t rocket science. I’ve always said that
real estate is simple, it’s just not easy. See, it’s simple. This stuff is simple. It’s just not easy to do it every day because we get distracted, we’re not holding ourselves accountable, we get caught up in busyness, right? And busyness is a choice, by the way. We’ve just gotta make
some better decisions. So if you’re interested in
outperforming the market, seriously consider these five ideas. Read them every day. Think about what your
outputs are going to be. Look at them on a regular basis. Hold yourself accountable. And I promise you this, you can have the best year in
real estate you’ve ever had. And remember, it’s a
beautiful life, everybody. Make it count.

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