My Rant On Agents That Complain About Money | #TomFerryShow Episode 63
As a coach, the majority of calls I get from agents looking for help are NOT the agents selling 500 homes and taking 8 weeks of vacation a year.
Instead it’s mostly from agents who either:
1.) Are stuck earning the same income year over year.
2.) Have fallen backward and are now earning less than they were before.
And these are the agents our company loves to work with.
Because I know there is so much potential for them to change their life around and with some slight adjustments their business can skyrocket.
I LOVE those agents who are coachable and ready to work.
The ones I struggle with are those that complain about money and can’t understand why they aren’t succeeding like other agents in their office.
With 20+ years in coaching to me it’s plain as day what their problem is …The simply aren’t willing to change.
I tell them, “What got you here. Won’t get you there.”
And a lot of times just the awareness helps them, it clicks and they get it.
They realize that they can’t keep doing the same old thing and expecting amazing results.
Other times we need to keep talking for them to realize that their stubbornness is putting a glass ceiling on their income and often times their happiness.
And it comes down to two things …
Stop Being Positional
The worst thing you could say is:
- “I never do my own open houses”
- “I never buy leads online”
- “I never call expireds”
Nothing should be black and white.
Stop using the word never! Instead do what’s making money in today’s environment.
The only constant is change. Especially in real estate!
Just look at this list of what the industry was like in the past and where it is now.
MLS Books –> Every Home Online
Interest Rates –> Up, Down, Steady
Fewer Agents –> 3 Mil Agents
Full Fee –> Discount Brokers
Booming Market –> REO & Short Sale Markets
Realtor.com –> Zillow & Trulia & BoomTown
Individual Agents –> Total Team Domination
The market is always changing and it’s your business responsibility to anticipate those changes.
The Market Doesn’t Care What You’re Good At
Meaning if you were really good at REO’s and the market swings the other way and you keep trying to make a living working only REOs you’re bank account is going to suffer.
If you’re not changing and evolving the market will make you irrelevant.
Which is one reason that teams are dominating because team leaders are bringing in agents with different skill sets and following the babushka doll metaphor.
Even if you are an agent that has been able to stay relevant over the years I have to ask – what do you think real estate is going to look like in 2020?
I don’t think we are too far off in assuming a cross between Minority Report and Tinder! (More details in the video above)
If I Were Coaching You
Here are my recommendations on what you should do immediately:
1. Assess Yourself
- Be honest about your psychology and it’s affect on your results
2. Assess Your Market
- What’s the total addressable market in your area?
- What are you doing best at doing?
- What does the consumer expect?
3. Create a “My Business in 2020 “
- Anytime you have a new idea make sure and capture it so you don’t lose it
4. Start Marketing in Today’s Day & Age
- No one cares that you don’t like XYZ
5. Start the New … Now While Doing the Old
- Cover your bases by testing
Business is cyclical and will always change.
Make sure and watch the full video to get all of the details and dig deep on this important topic.
You’re ability to be self-aware, make changes and adapt is what will stop the slide of a Fading Winner from getting to Restructure and instead getting back to the Growth phase and eventually to being a Cash Cow.
Are you a fading winner and want to get back to the top?
Simply sign up for a complimentary coaching consultation to find out all the ways we can help you and your business improve!