Three Habits To Help You Thrive In Today’s Changing Market
What’s the difference between a Realtor or Lender who will be out of the business within the next 60 days…and a Realtor or Lender who will do three extra transactions in the next 60 days?
No, it’s not bigger ads, more cold calling, or sending out your local sports team’s game schedule.
It’s setting the goal – three extra transactions in the next 60 days – and then having the self-discipline to reach it.
Now, here’s my definition of self-discipline: The willingness to do what it takes to achieve the results you want regardless of your mood.
Mood has to do with your motivation. Motivation usually happens at the beginning of a new project or goal; your dreams are dancing in your head and you’re ready to go. You know that feeling – you’re going to get up an hour earlier and go to the gym, or you’re going to stop grabbing fast food on the run and pack a healthy lunch instead, or you’re going to reorganize your workspace so it’s easier to find things, or you’re going to do three extra transactions in the next 60 days. Yes! I’m in! Bring it on!
But the human condition is, in a few hours or days that initial “high” begins to fade. You start to come down, even crash a little bit. And now that goal you set seems more like plain, hard work. That’s where self-discipline can prevent you from quitting.
Motivation starts the race. Self-discipline crosses the finish line.
Building self-discipline is one of the hardest things you’ll ever do. I speak from my own experience because this is my greatest challenge. What keeps me trying is absolutely knowing that self-discipline is one of the most significant aspects of personal and professional development. Without it, we remain a pale shadow instead of the highest version of ourselves.
So we set a goal, and that’s good, because a goal gets you focused. Specifically, a goal gets you focused on the habits you need to form to make that goal come true. Habits are memorized solutions. When your mind figures out how to get something done, it saves the solution which is then reinforced when you apply it again. That solution is a habit. It could be looking both ways before you cross the street, setting your alarm clock at night, or taking a shower every morning.
What habits could you form to help you reach the goal of three extra transactions in the next 60 days? Here are my suggestions:
Habit #1: Commit to thinking of the market as cyclic.
In Gary Keller’s Shift: How Top Real Estate Agents Tackle Tough Times, he talks about how, in our business, what goes up must come down, and what’s down won’t stay there forever. Shifts are never unexpected, but rarely predictable. But we’re in the habit of saying, “Gosh, this has never happened before.” Then, once the shift is over, we act as if it’s never going to happen again. When shifts occur and fear runs rampant, you have to get out of your fear and your concern about what’s going to happen to you, and start connecting with people, being the solution for them, interpreting for them, and letting them know what’s happening. How do you do this?
Habit #2: Commit to calling every one of your past clients and others in your sphere of influence over the next 60 days to check in, and offer them information about opportunities that could benefit someone they know.
Make a list of the names and telephone numbers of past clients you enjoyed helping along with friends, neighbors and others in your sphere. Keep that list with you and make your calls first thing in the morning when it’s quiet, in between appointments and when you’re in line at the bank. If you get voicemail or the answering machine, don’t leave a message – call them back. Your conversation could start something like this:
“Hi, Rob, it’s Joe Stumpf. Can you chat for just a couple of minutes? I called to ask if you have any questions about the market that I could answer for you. (Answer their questions.) I also wanted to let you know that a great property just came on the market that would make a perfect home for a first-time buyer. I was going to place an ad in the paper, and then I thought, before I start dealing with people who don’t know me, I’d give you a quick call and offer my time to people you know who might need it.”
By the way, did you notice? You’re not putting anyone on the spot by offering the loan or property to them. Instead, you’re offering your time to someone they know.
Habit #3: Commit to being willing to do what it takes to achieve the results you want regardless of your mood.
This is where self-discipline comes in – after you’ve made your first seven calls and not one person has referred anyone to you. The initial “high” of setting the goal has started to fade, and it would be so easy to find a dozen things you’d rather do than make these phone calls. Two dozen!
But as you keep making those calls, it’s going to become a habit, just like looking both ways before you cross the street. The more it becomes a habit, the more self-discipline you’ll develop. The more self-discipline, the more you’ll want to press on. The more you press on, the higher your likelihood of reaching the finish line.
I’ll leave you with this thought…
Over the next 60 days, how many transactions will you get by NOT making your calls?