Well it’s finally over. After 12 gruelling weeks my contest is over and we have a winner. Time for a big shout out to Graham Rowlands who demonstrated a very well-rounded approach to getting points. He didn’t just do one or two things, he approached each challenge with an open eye because he knew that building a routine was key to his success.
So for the last task I asked the agents to share our office experience with agents from other companies. If they enjoyed the past year, my meetings, Mastermind, our social gatherings or even our contest, then share the love with others and if they thought someone would fit well into our environment then they had to let me know. It would be my job to make the connection and let that agent know they were recommended. Sure, it’s kind of a backhanded recruitment strategy but rather than me call random agents isn’t it nice to be recruited not just because you are successful but because other agents think you would add value and fit in to a thriving office?
Finally, as I close out my posts for 2014, I want to encourage real estate managers everywhere to share their meeting topics. It is hard work to keep agents engaged week after week. Sure, when some new initiative, policy change or interesting media story emerges you can build a great meeting around it but other times you just have to come up with something fresh and entertaining. I run 45 meetings a year and I would be the first to admit that some are complete duds but when they are good they are worth sharing. RealtyLab is a perfect vehicle for sharing so if you have something good just let me know, I’ll try it out, I’ll write about it, and I’ll give credit where credit is due. I look forward to all the great ideas in 2015.
mark mclean is the Broker/Manager at the Bosley Real Estate Queen St W office and President-Elect for the Toronto Real Estate Board. The opinions expressed here do not reflect the opinions of TREB or Bosley RE.
I think I may have come to the proverbial end of the road when it comes to my blogging on prospecting. I’ve said it often enough, prospecting and running are very similar. So on yesterday’s run, my 89th of the year, I decided to figure out how much money I would have made if I stayed true to my rules on prospecting.
Imagine this; Your goal was to contact 10 people for every time I ran. Just so we are clear, when I talk about prospecting I’m talking about meaningful real estate discussions that last more than a few minutes. So you’ve talked to 1000 people (100 runs times 10 people).Now, the general rule of thumb for prospecting is that every 50 meaningful conversations will get you a buyer or a seller contract. That means that you signed 20 contracts over the course of the year. Guess what? If you work in Toronto you are doing better than 3/4’s of all TREB agents already. For simple math lets assume that the average commission is $5,000 because, as a new agent, you are doing a few rental deals in there too. This year you have made a pretty decent living.
Prospecting is a simply thing to do once you sit down and put your mind to it. As I have found, it is much harder to do it consistently. Just like running, there are a lot of excuses for not getting out of bed at 5:30 in the morning and hitting the pavement for an hour. What I have learned is that prospecting, like running, can be habit-forming and that is the true key to success. Sure, lots of things can get in your way, and it’s easy to roll over and go back to sleep. The hard part is to take the first step. You get out of bed one leg at a time, right?
So what’s the goal for the next year? How about keeping it simple. Hear’s the funny thing about consistent prospecting that is a real bonus for the following years. Remember those 1000 people who you talked to? They are still prospects. You still have 980 people who you didn’t sign a contract with, so in year two you can add them into your next 1000. You are bound to pick up a couple from the first 1000 and another 20 from the next 1000. See how it works? It’s the sales funnel in action!
Well, I’m going to keep running as long as my knees and back hold up. Now I just have to think about other things to blog about. Any ideas?