I watched this episode of the Tom Ferry show yesterday, and it is so good.
Much of what Tom is talking about is what you should be doing to run your business like a business (because it is). I’ve talked about this a lot. One of the biggest mistakes (if not the biggest) that I see agents make is that they don’t view themselves as business owners. Tom says that many agents go to work in real estate vs running their business, and it’s so true.
Something else he talks about is gathering market knowledge, checking what’s new, under contract, etc in your MLS. I remember doing this religiously in the beginning of my career long before the MLS was on the internet, lol. I had a search set up called “daily search” and I ran the update sometimes a few times a day just to see what was happening. As a new agent especially this really helped me to know what was happening in the market, and to help me to know what to say when someone asks, “how’s the market”. Great advice.
Lastly, (not the videos last point, but mine) Tom talks about something I heard again just a week or so ago … with the market now filling up with websites and companies where buyers and sellers can find us online … and then that website gives them back to us for 25%+ referral fees … there are more and more chances that people you know will connect with you that way not realizing what that connection actually costs you. Even more reason why we MUST have a plan and stay top of mind with our clients. They need to know without a doubt how to contact you and that they should contact you … you don’t want them taking to the internet to find that out. Marketing yourself through a regular monthly program and system may sound expensive, but it is a lot less expensive than 25% of your commission when your neighbor connects with you through one of those websites.
Watch and tell me what you think!