7 Areas That Must Decrease for Your Real Estate Business to Increase

In order for your real estate business to increase, certain things must decrease and in some cases be eliminated completely. Whether you're looking to generate more listings, close more sales, or become the chosen agent in your local market, these steps will help you build the real estate business of your dreams.

Here are the seven areas that must decrease in order for your business to increase.

1) Your Ego

When things are going well it is easy to fall into the trap that you have real estate sales figured out. Success has a way of fooling us into believing that we don't need to continue to grow and adapt because things have been going our way. The problem is that if you are not growing then you are dying.

Coming off the historic increase in real estate sales and price movement, the real estate market made a lot of us look smarter than we are. The problem is that when transactions slow, as we are seeing the beginnings of nearly everywhere, a challenging market can make agents look worse than they are as well.

Warren Buffett says, "Only when the tide goes out do you find out who's been swimming naked." The tide is changing. But, there is still time to get "suited up." Humble yourself and double down on honing your skills to become the most professional agent you can possibly be.

2) Wasted Time

How much of your day do you really spend on income producing activities? How much time do you waste daily? Even the most efficient agents I know have pockets of time where they could improve. If you're looking for a way to start maximizing your time instead of wasting it, here's a practical way to improve.

What we inspect, we can expect to improve. For the next two weeks, keep an hourly journal of the activities you do for your business. At the top of each hour answer these four questions:

How many real estate related conversations did I have this hour?_______________________

What did I do to improve my business this hour?________________________________________

How many real estate related conversations will I have in the coming hour?______________

What will I do t improve my real estate business in the coming hour?_____________________

3) Fear of the Phone

Real estate is a contact sport. If you're business is going to grow, you must be communicating with and adding value to new people on a consistent basis. Having a specific time every day that you make phone calls and prospect for business is fundamental to building a thriving business.

4) Your Time in the Office

You must be where the people are. In most cases people are not walking into offices as often as they used to do. Get out of the office and go where the people are. Hold an open house. Attend a local charity event. Become active in a local service organization.

Yes there is a time and purpose for being in the office, but scheduled time being active where your clients will be is important.

5) Useless Marketing

Identify where you are spending time and money that is ineffective. By redeploying your marketing to more effective areas, your efficiency and productivity will greatly increase.

6)Time Spent With Buyers Versus Sellers

If you spend the majority of your time with real estate buyers, you are a real estate sales person. But, if you spend the majority of you time focusing on listings and helping potential seller, then you have a real estate business.

7) Your Passivity

The time for boldness is now. The time to talk about what you are going to do in your business has passed. It is now time to take massive action. During market shifts most agents become passive, but the agents that increase the value they add to their clients and future clients are the ones that gain market share.

[MartinAlcala]

Love point number 6 - The old adage in real estate LIST TO LAST - start planning your day and code time on buyers versus listings and aim for 50-50 at least

[judith]

Thank you for always delivering quality content. I plan on decreasing wasting time.

[guerryclegg]

Great info. So good that I just subscribed to your YT channel. It's more than just helpful. It's very timely for me personally. I'm wrapping up my best quarter in 20 years of real estate. That may seem like I need to relisten to No. 1. But quite the contrary. I know there's still so much to learn about running my business. For too long, I let my business run me. This video was extremely encouraging and motivating. Now, in the interest of Nos. 2 and 4, gotta go. :)