What To Do When You Aren't Producing in Real Estate
How To Improve Real Estate Sales
In real estate, we can go through sales slumps. Those times when we desperately want to increase our sales, and we just can’t quite figure out what we are doing wrong. This will happen to everyone in their real estate career, but what can we do about it?
In this real estate agent training podcast, you will learn what to do when you are not producing.
[00:00:00] Hello and welcome to Rev Real Estate School. The podcast with actionable advice to help you sell more real estate in today's world. Moreover, now your host Michael Montgomery.
[00:00:11] Hello and welcome back to Rev Real Estate School. I'm your host Michael Montgomery. Today we're having a quick talk about what you can do if you don't feel like you are producing. So if you're in one of these whether it be a slump or whether you just think hey I don't know what I'm doing wrong, but I'm only not producing. This is something that comes up once in a while where you think you're doing everything right and you may be doing everything right, but the production isn't there.
[00:00:40] You're not getting the appointments you're not getting the sales your buyers aren't necessarily pulling the trigger when you're out showing them properties, and they're just looking at more and more out there. So what can we do when we're in one of these phases where we feel like we're doing everything right, but we're just not at that level of production that we want to be at.
[00:01:01] Ne of the first things to keep in mind is that it's not necessarily indicative of you doing anything wrong. If you do not have the production, sometimes these things can take time, and in real estate they take longer than other sales roles. So just because the sales aren't rolling in right now doesn't necessarily mean you're doing something wrong.
[00:01:22] Now it can mean you're doing something wrong it can mean that you're not doing the right tasks, but it doesn't necessarily have to indicate that. Also, if you look at this the other way even if you're doing all the right tasks you're doing everything that you need to be doing to produce, but you're not getting the sales. It can just be a matter of time. You can't force somebody to list their home you can't force somebody to buy a house. Now you can guide them and ask the right questions to help them make the decision that's best for them. However, of course you can't force them to do anything. So why do we bring this up? The purpose of this is to understand that there are certain things that we don't necessarily need to be focusing on. Moreover, there are certain things we do need to be focusing on. If we're focusing on those things that we can not control then we are setting ourselves up for failure.
[00:02:11] You can't control your leads or prospect's decision to list a home or to buy a home. You can't control people's decision to get into the real estate market. That's not within our power. However, we can always guide them. But if we're just focusing on the sales and we're just trying to focus on how are we going to get the next deal, then we're not focusing on the right things. If you're in one of these periods where you think you're doing everything right but the sales aren't coming. We need to drop the focus on the sales and drop the focus on the sales even drop the focus on the appointments. Don't worry about those. Those are things that will come from doing these other activities. We need to be focusing on things that we can control if I want to go on a hike one day. I'm not going to beat myself up if it starts to rain. The rain is not something I can control how I respond to the rain and if I plan the next day to go hiking. That is something I can control. So let's always think and always come back to the things in real estate that we can control and you know what.
[00:03:10] Frequently we can over complicate these things that we can control. We think about different ways that we can generate leads, and we can prospect without really coming back to the fundamentals. Now if you are not producing at the level that you want to produce at whether you're doing no deals or are they doing 100 deals and you want to do more. It all comes down to conversations. The number of conversations you're having.
[00:03:34] If you're not doing enough business and you want to increase your business you have to increase the number of people that you're talking to whether that be at an open house whether that be at an event whether that be your sphere of influence. These are all important ways that you can drive more leads to your business. But instead of focusing on how you can go about getting the next lead just focus on increasing the number of conversations that you're having throughout the day. Now we've said this before.
[00:03:58] The more people that you talk to the more homes that you will sell naturally those people that you're talking to will find their way into your database and will find their way into your pipeline. It's not as much at this stage about how you can go about optimizing your funnel and optimizing your database. It's more about how can I just increase the number of conversations that I have with people how many times throughout the day can I connect with people.
[00:04:24] Now this goes beyond just saying hi how are you. Any time that we're talking about this it has to turn into a conversation. There has to be a back and forth and it doesn't necessarily have to be about real estate and in many ways it shouldn't even be about real estate. It should be more about them and what's new with them. If you think about it naturally in a conversation when you're going back and forth if the conversation is all about them eventually they're probably going to ask what's new with you and at that point in time you can definitely start to jump into what's going on in real estate and what you're doing and what's happening in the market. And they'll always ask you that real estate question that we all get which.
[00:05:01] If you don't know where to start with this open up your database and start calling your sphere of influence. We're getting to the end of summer if you're listening to this and fall, winter whenever that might be. Ask them how. The season is how's your summer. And have a conversation with them. Ideally, you're doing this over the phone. If you're not at that stage then do it over text. If you're not at that stage you can do it over Instagram Direct Message or Facebook Messenger. Ideally you're not necessarily doing this over email unless you've already had much communication with that person over email. I find that it can kind of get lost and it becomes a little bit less personal when you're doing it more of a text, phone, or social media. It can be a little bit more personal now if you have a smaller database or you've already gone through everyone in your database as of recently then we have to look at strategies in order to increase conversations in other ways. Now this is where open houses come in where networking events come in. We're just honestly getting out of the house. When somebody invites you out to do something the answer is yes you want to get outside you want to be doing things, and you want to create opportunities for you to have conversations. Now if you think there aren't any opportunities then you're not looking hard enough you're not going on Eventbrite and Facebook events and all these other ways that there are tons of opportunities out there for you daily.
[00:06:18] We've talked about hobbies before and how you can start exploring your hobbies and interests. This one of the most potent things about real estate is you can do some fantastic business well doing the things that you enjoy. If you want to learn something new take a class. If you want to start exploring more in fitness then take fitness classes do it with people and this will naturally cause more people to enter your database. More people enter your pipeline and more sales to come.
[00:06:43] Now if you're a numbers person and you need to know exactly how many people that you need to talk to every single day in order to be successful. Now it can depend slightly on where you're at in your business but for the most part, you want to shoot for 10 to 12 people.
[00:06:57] You want to have 10 to 12 conversations per day, five days a week. Remember those come in the way of a phone call a text message back and forth an in-person meeting of course and then also facebook message Instagram Messenger. Those sort of things I do not count email in this, and it should also be a little bit more focused as in if you're just talking to the same five people and they're all your very very close friends or your family. You have to push beyond this. You can't outsmart the system. It's more about trying to have 10 to 12 new conversations per day.
[00:07:36] That doesn't necessarily mean that they have to be different people and in fact you want to be having conversations with people that are within your database on a regular basis so that they know that you're in real estate but you want to make sure that those numbers are being hit again. Let's remember this needs to go beyond just "Hi, how are you". Or if you're door knocking and you're just handing them a flyer or something like that it has to actually turn into a back and forth conversation with the person. But those are the numbers that we're trying to hit. If that seems too high it's very very doable and make sure that if you're doing it on a daily basis you're doing it in the morning and you'll notice that this will go by fairly quickly. If you're looking at this and saying "No problem" I do this all the time I don't have to worry about counting it. Try counting it for a week and see if you're actually hitting that 10 to 12 number. And even if you are if you're hitting 10 to 12 or even if you're hitting say 20 then you may want to look at what's being said and the type of conversation you're having. You may also want to improve your communication skills. That's a huge part of this. So going to Toastmasters and enhancing your ability to talk and communicate with people will improve your ability to eventually convert those people into real estate customers.
[00:08:48] To recap, you are in a period of time where you're noticing that you're not hitting the sales you'd like to hit. This is very common. It happens at all different production levels that happens with zero deals and happens with a ton of deals where you just want to start increasing your production when you want to do that. Yes it's important to know how to talk to customers it's important to know how to convert but more often than not it just comes down to increasing the number of conversations you're having. You're not focusing anymore on the things that you can't control and you are focusing very heavily on the things you can control. So hit those 10 to 12 conversations. Thank you so much for listening to this. You can reach out to me anytime. Just head over to revrealestateschool.com Or you can follow me on Instagram @the.michael.montgomery. We'll see you in the next lesson.
[00:09:33] This episode of Rev Real Estate School has come to a close. Thank you for tuning in. We will see you back here next lesson.