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June 25, 2013

How To Make More Money In Real Estate Sales

by mark mclean

Every January I have a little sit down with the agents in my office to do a little business planning. I send out a survey before hand and ask them to put their goals on paper. It always seems a bit more real when you see it in black and white. We talk about the successes of the year, what worked and what didn’t, how much money they spent and what did they spend it on, etc etc. It’s a great exercise and I get an instant overview of who is going to be a stand out in the coming year. Let’s face it, if I have to chase you down to do some business planning then I know how committed you are to work.
If you’ve seen my video posts before than you know how important running is to me. It is a perfect metaphor for life and business. If you want to succeed you need to work…hard. Last year I made the committment to run 100 ten Kilometre runs and I made it, barely. I learned a lot about what I was capable of during that year but if I hoped to lead by example, and do 20% more in 2013 then I had two choices; run more often or run more distance. I thought about keeping my distance the same and running more but finding the time for 100 is hard enough when you factor in climate challenges, injury or sickness. Instead I opted to run a longer distance. What’s an extra 15 minutes anyway? To date I have passed the midway point. 50 twelve kilometre runs under my belt.
If you are like most of the agents out there then your goal is to make more money this year than you did last year. Well, like my running, there are two ways to do that; sell more houses or sell more expensive houses. Either are possible.
Selling more houses requires a bit more planning and time management. If you want to increase your income by 20% that may only translate to 2 extra deals a year. Not an insurmountable challenge. Spend a bit more money marketing, keep working your prospects, network a bit more, do a few extra open houses this year, utilize other advertising mediums. Selling more expensive houses should also be relatively easy. Talk to your old clients and get them to sell and buy bigger houses, convert renters to owners, expand your farm area.
Either way, the opportunities exist if you are willing to commit to working hard and forging new opportunities. We are at the halfway point in the year. If things haven’t been going your way, it’s time to do a little re-evaluation. The summer is not just an opportunity to travel and relax, it is also time to lay out a plan for the Fall. It is going to get busy again. I promise.

mark mclean

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