Category: Personality Styles
Today we have a very very special guest: Amanda Yates! We’re going to talk about what it’s like to be a new agent.
Amanda is doing so well, she has 8 sales down now, in less than a year; which is an amazing job! Though Amanda was recommended to get into real estate before, it was only when she and her husband bought their first home and saw what a killer job their agent did, that she decided to take the big jump. She wanted to help people with real estate.
She worked 9-5 in a bank as an accountant before. She felt drained and wanted a change!
There are 4 personalities in real estate: expressive, driver, amiable, and analytical. What’s nice about real estate is that there is a type for everyone.
How were the first few months like? She first thought it was going to be a service job and hadn’t realized how many practicalities she would have to deal with everyday and how many people are actually involved with it.
Did she ever have second thoughts about being into real estate? The first few months were very exciting, though felt very ‘ADD’; You are trying to take it all in but it’s not until you get to practice all the theory you’ve been absorbing that things start to make sense. And she had her first transaction within 30 days!
What emotional challenges were caused from these second thoughts? They talk about the ‘real estate roller coaster’. It’s super exciting to close the first deal but, unless you treat it like a business, you’re going to go up and down the first couple months.
Was there ever a ‘ah-ha’ moment, when things ‘clicked’? Yes! They recently went to club wealth and she got to network with a ton of successful people; Seeing how people talked about Mike with so much respect, hearing it from other people too, was such an eye opener! Also sitting down with people that are like-minded and really getting to talk to them and realizing how well Mike’s training had prepared her was an important moment for her; She realized she had to treat real estate like a business. For example, when she now walks into a room, she’s picking up personalities!
Now that she has her feet really wet, based on her personality style, if she had to pick three things that she will be doing for the next year, what will it be? Because of her bubbly personality, she loves open houses. She also loves door knocking and will be picking up farming.
Does she wish she had done more/less training or was it just right to see the world of real estate, fast in 8 months?
She looks back and doesn’t regret the training. She has to remind herself to go back and re-absorb some of what she learned in the past.
How does she feel about the online leads? She has closed around 4-5 deals through online leads. So her call reluctance is down and she has come to realize that, as long as she keeps the mindset that she is here to help, so business will come!
If Mike gave her a time machine and brought her back 10 months: What does she think she would have done differently? She would have been to the office with more consistency.
Going from a full time job and a steady paycheck to fully commision based is terrifying! What made her jump the lead? She had an awesome broker that told her she could do it and the support of her husband!
Family. She’s been with her husband for 8 years. Her lifestyle and ever her own self has changed so much ever since she entered the business. Especially in the first months, it doesn’t take much for a relationship to get on the fence. The words: “maybe you should get a real job” can come up very fast. So you have to be strong when you get into real estate and keep a health balance between your personal and business life. And know your relationship and your partner. Real estate agents have the biggest divorce rate from each industry!
Some relationship advice? Remember to be fully ‘there’ and give your attention to your partner, when you decide to spend time together; Put your phone away and focus on what they say! You also have to learn to keep the stress of the day at the office. Use your team to keep you in your lane and when you are home, be home!
Mike recommends to only share success with spouses. Cry in the shower only. And then your spouse will be more supportive.
How’s her scheduling improved over time? In the corporate world, schedules are planned out to the minute while, in real estate, there is no schedule! Mike’s perfect daily schedule has helped Amanda discipline herself, though she is not going to micromanage herself neither.
Another skillset she has developed is the one of cultivating relationships and network; Wherever she goes, she takes the time to positively connect with the people around her and culture a connection with them. Talking to people 25/ day is simple, even if you’re typing back and forth through social media, this is still a contact you’re talking to!
Being on a team. Amanda was first reluctant to join a team, and was even first thinking of joining someone else’s team. Eventually, Mike convinced her to join his. Amanda’s advice is, if you think of joining a team, have upfront, in writing, how much your splits are going to be, so that you don’t get blindsided later on, once you get your check. However, understanding how much work and people are involved to make each transaction happen, the access that a team gives, and how much more business comes through, made Amanda realize what an amazing asset a team can be to further her career.
If you think you can spend thousands and thousands of dollars, a month, on overhead, that’s fine, but here’s what you have to ask yourself: I can go buy Mike’s market plan and what he wants to spend money on or I can do what I want to spend money on. And this is where the decision making is coming on.
So Amanda is now part of a team; What are some of the real feelings she’s gone through? She has learned to pay attention to the general energy and attitude of people when she says she is part of Mike Bjorkman’s team. How do the people of the community feel about it? What’s their body language and personality? If the personalities don’t match, it’s not going to work out. Accountability is also another huge element to look for and develop with your team members.
Would she rather join someone’s team because they will produce tons of leads, or would she rather be with someone who can teach her? It’s hard for her to say because she gets both from Mike’s team! Training is however huge as well as networking. If people don’t know your name, they’re not going to take your offer.
Final thoughts? The first year is going to be overwhelming and you’ll have to learn the business as quickly as possible or have a support team to help you. Having support is really big. Amanda is also a strong believer of Mike’s ‘law of attraction’; This whole year she had this mentality of trying to break even, which was a very low goal. She has now re-evaluated her goals and has even written them all over the place to visualize them! Her goal now is 40 transactions. It’s making sure that you are a well rounded individual.
Amanda can be reached at: firstname.lastname@example.org (805) 794-8328
Today we have David Tal, owner of Agentology on our podcast!
Agentology understands agents are busy and wants to become your ISA, by helping you engage all of your leads, do the necessary follow ups, filter out all the junk messages, and set up appointments and phone calls with the most motivated prospects!
ISA: Inside Sales Agent who is suppose to set these appointments for people.
Today, all real estate business is either being on a team or building a team and buying leads to be successful is necessary to even have a chance in this industry. So, as a team leader, Agentology’s concept sounds awesome!
How was Agentology developed? We’ve all seen the massive shift in real estate that the internet brought. Technology has empowered the consumer to do a lot of the work on their own but it also eroded that human connection that used to be made right away. Nowadays, agents have to bridge that gap. To do this we have to go online to bring them offline and meet them face to face.
David was a broker for about 10 years. Though he and his team were doing all the right things to generate leads, they were missing the ‘in-between loop’ to connect it to. So he and his brother decided to become the first lead generation service to pre-screen their leads. Agents absolutely loved this! Eventually, they decided to open the platform up and service all leads and help agents with all of their lead sources.
So are they really sitting around in a room and going through each lead? They look at data more than emotion to see what created the most engagement gave back and the most results. They also look at different scripts and see how they can blend them all together. And we are only testing, so if in a few months we find something that works even better, we will adapt to that! Our goal is to convert to the higher level, if this is calling or texting, this is what we’re going to do.
Sometimes agents will call/text 3-4 times with no answer; When should they give up? Data shows that between 8 and 10 attempts is when you will convert 93% of all the qualifiable leads. You can make another 10-1000 attempts but you are only working on getting another 7%. So it’s just a matter of where you want to focus your attention. Use as much human interaction as you can, as this is when you will convert the highest. They recommend making 5 attempts within 24 hours.
Depending on your demographics, you will find out if it’s better to text or call. Statistics have shown for example that millennials get really annoyed if you call them.
25% of leads come in after hours. That’s because this is when people get out of work and have time to look at things online. They rarely expect a response at that time of the night and people are super impressed when we reach out to them! It is important to understand that the consumer of today is around the clock and weekend.
Agentology has over 100 people now and is open 24/7, like a well oiled diner!
What do you say to an agent who is opposed to ISAs? It’s a fair point but when a lead fills out a form and is contacted almost instantly, that makes the agent look more professional and responsive and shows that they have a process and a team, which makes the customer feel more comfortable. Customers feel like the agent has a real business. Also leads tend to lower their guards with them because they know they won’t be pushing an agenda. So it’s better to respond to all your leads humanely, almost immediately, than only a fraction of them because you want to be the one who does it.
How does the lead ‘distribution’ system work at Agentology? They have different integrations with CRM’s so that they can keep their routing rules in place. They are also starting to work on their own routing functionality, though they don’t want to be another CRM but work with all of them and be that filter that keeps everything in place.
Qualification process. They have leads coming in instantly. Once they receive a lead, they jump right on it. As soon as they get a hold of the person, they will try to enhance it by gathering far more information. Part of this strategy is to build trust and show them that we care and want to know who they are. Once we qualify a lead, we send you all the information we gathered to you in an email. Now you have context to continue that conversation.
From all the companies Agentology works with and gets leads from, who’s the best performer? The highest converting source is realtor.com, followed closely by Zillow. About 45-50% of leads are qualified. However, we also factor cost per lead. We ask agents to look at their business on a cost/qualified lead basis. So it’s important to look at all options. Facebook leads are great as well for example!
If you were an agent/team leader today, and only had a week to put a plan together, what would you put together? Depending on your budget, you don’t want to invest in the big portals (like Zillow) unless you can spend at least a few thousands per month on it. So, like investing in stock, you need to diversify. David will recommend putting as much as 50% on the best portals (like Zillow) and the other 50% on cheaper leads where you can get a higher volume from. Track, test, and see what works best in your market. I’d certainly combine it with a lead qualification company.
Anything else agents need to focus on? The consumers we are meeting online are earlier in the process than what they use to. They are not buying in 1-2 months but in 6 months, or possibly longer. So it’s important not to be discouraged by that show them you have a long term strategy and that the agent is the best suited to perform the task.
David also recommends to friend people on Facebook after having a conversation with them and engage with them. This will favor your algorithm on Facebook and your posts will start coming up first on their wall, casually building a relationship with them!
Agentology focuses on quality. They have a true culture of coaching and training, right here, and not abroad. They also text/call/and email 24/7; They are one of the very few companies that do all this! They also share a lot of data inside with agents. Not to mention they have a built-in referral network, which allows you to make a 25% referral fee on all the leads that you don’t want.
Agentology offers a 30-day free trial! www.agentology.com/30-day-free-trial/
–Treat everyday like it’s day one! David
Let’s take “I don’t have time” out of our vocabulary!
So what’s the Theory/Why Bother?
- Sometimes we have so much work; We need to manage the workload
- Improve productivity
- Work more or less
- Relieve stress
- Plan time off; if you work seven days a week, you end up burning out and you become a frustrated, unhappy person!
Perfect Daily Schedule
Though you could be managing your day down to the last minute, and this might be a great way for you to start off, Mike’s perfect daily schedule consists of:
-1 hour/day of self-help
-1 hour/day of skillset, training
-2 hours/day of previewing property
-2 hours/day of prospect
-1 hour/day of follow up
If you follow that schedule, you should hit very close to 100 homes a year!
We often talk about not having enough time. Rather than focusing on that, and complaining to yourself or others about not having enough time, think about what you do have enough time for. Start talking and thinking about that instead and, pretty fast, you will realize how many things you actually do have time for.
- Take 20 minutes at end and beginning to set your schedule
- Schedule time for fires; leave a 30-45 min. window; you will never be behind!
- Do not disturb sign is a must; it is crucial you have that in your office/house
- Block out distractions
- Learn to say no
- End day at fixed time; If you end, and even start, your day at the same time, you actually have some normalcy in your life.
- Do things you like; most real-estate agents do things they don’t like; Stop doing that! Finding out and doing what you like will actually make you more proactive and better at your job than doing something you hate and do with frustration!
- Find out who’s wasting your time and stop hanging out with them
- What is wasting your time? For Mike, it used to be Facebook at some point.
- Can you cut previous commitments? What can you cut out?
- Batch similar tasks together and plan out your day accordingly
- Take mini breaks; if you don’t rest and relax, you’re screwed. Be energized, go take a walk; this will keep your brain working
- Take lengthy breaks. These are 3-4 days that you should take off per month to re-energize
Firstly, notice that you are procrastinating and acknowledge this. Try and do so without judging yourself and without getting stressed about not having enough time. Simply say to yourself a simple phrase as “procrastinating” and “moving on”. Choose a phrase that works for you. In doing so, you’ve acknowledged it – you’re procrastinating. Now you’ve acknowledged it you can move on to the next step – doing something about it. Do not judge yourself.
- Phone calls. Be diplomatic, this will help you minimize the calls while being also helpful.
- Email; The worst time suck!
- Social Media; be careful not to let it turn into a tool of procrastination (e.g. by stalking people)!
- Work socialization; For importantly, do not spend time with your competition, all they want to do is learn your secrets and list homes you are suppose to be listings
- Team Interruptions
So Now What?
- Learn to watch time close
- Factor in time for procrastination; just face it and include/extend a little bit of time for procrastination
- Do hard or nasty stuff first; if you are procrastinating the nasty stuff, you’re day is going to suck!
- Set reminders all the time
- Focus and shut all apps down
- Acknowledge success and reward
Pareto Principle of 80-20: The 80% of your time, focus on the top 20% of the ways to get business
Books we love:
-The 7 Habits of Highly Effective People, www.stevencovey.com
-The 80/20 Principle, www.richardkoch.net
And we’ve only scratched the surface; go get more!