OKAYfine. H2s aren’t so practical, are they? And it’s maybe vanity to have an assistant at this point, when you’re down to 20 deals a year. Maybe it’s stupid to run that display ad in the paper, sharing space with a Realtor or Loan Officer. But you’re committed, right? The give and take of this grind is in your blood, and you’re gonna survive this..resurgence of the 1970’s.
So let’s figure out how:
1) Ruthlessly Control Your Personal Spending. Thanks to the IRS, I’ve been a low-spending guy anyway. But there was still fat in my budget. Mint.Com quickly pointed out what I actually spent money on. And there was tons of room to save. About $700 bucks a month without much lifestyle change. Each $100 you can save a month is $150 you don’t have to earn. The lower your nut is, the better equipped you’re gonna be. Having a low cash need = low stress.
2) Control Your Environment. De clutter the hell out of everything. That stack of “broker/agent” magazines? Pitch. Everything in your workspace is something that you have to think about and something that siphons mental energy. Spend 40 minutes pitching damn near everything till you’re down to your computer, family pictures, a pen and paper, and maybe a cup for coffee or water. Make your workspace look like an Apple commercial, and see what you get done.
3) Lead Generation = 35% of your time, minimum. Yeah, deals take longer and are more fragile then ever. I get it. But would you sleep better at night with six more fragile deals? Surely SOME of your deals would close if you had more going. And, when you learn how to ensure fragile deals are gonna close, well, when the market hits the other end of the cycle, you will be crushing your new competition. C’mon. Instead of calling your lender and asking for a status update every three minutes (even though they should be calling you), why not call some past bclients and offer to be a voice of reason in these here heady times? You work a 40 hour week? Great. Let’s have 18 hours of lead generation. Cut the incessant checking of the bond, because kids, the BOND DOESN’T MATTER IF YOU ARE PRODUCING UNDER 2mm/month.
4) Have your Head in the Game and Not In Your…. Look, we know lead conversion is tougher than it was, but why not do it with gusto and enthusiasm? The hangdog way isn’t for Bloodhounds. Find joy in being more productive than other Realtors/LOs/Etc. Let your need for differentiation rule in this arena. Let your contrasting style invigorate you. Just walk away from idiots and zealots. Don’t focus on the bullshit, focus on the opportunity. Make your mind tuff, but take action.
5) Define and Seek Peak Experiences. Maslow was a damn genius. Write down 2-3 transcendent and cool things you wanna do. Most times it’ll be cheap. I got more bang out of watching my 3 year old sell lemonade than I got out of buying an Acura RL. Figure out what you’re happy memories are and go make more. I have a list, here.
The list could be expanded, but simple works. The people around us are all messing their heads up, and it’s probably good to get connected and identified with better peers. If you want to wallow in failure, that’s also an option that’s out there for you, and there are plenty of places to do that. But why? I’ve experienced success and failure, and failure is WAY less pleasant.
Source: Chris Johnson of http://www.newmarketsurvivalguide.com/
MY TAKE: There is some good advice in here. I also believe the list could be expanded, but this is a good place to start. If you make your list TOO long you can feel overwhelmed and not do anything on the list so pick a place to start and start.
Marketing agreements are great, but you would be better served to partner with a lender who understands the importance of taking people off the fence. Lead conversion is never going to be 100%, but some lenders are better than others at helping people understand that it is okay to buy right now. I could rattle off a list of 50 reasons to buy a home in Grand Junction and not have any of them be about property appreciation.
Give me a call (after you clean off your desk) and let's talk about some strategies Cherry Creek has to get some of these people off the fence.
Kevin Wade
Cherry Creek Mortgage Company
kwade@ccmclending.com
970-243-7800 - Office
970-201-2310 - Cell
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