6 personal habits that will lead to explosive business growth
Tony Robbins described a personal development plan for individuals years ago. Jimmy Burgess applied this model to real estate to help agents experience incredible personal and business growth. Here’s what you need to do first.
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There are specific actions agents can take to improve themselves, which in turn dramatically increase their real estate business. Business and life coach Tony Robbins introduced a personal development plan for individuals years ago.
Below I have applied this model to real estate to help agents see incredible personal and business growth. Here’s what you need to do first.
1. Focus on your mental growth
The basis for becoming a better real estate agent is expanding your knowledge about the business. The discipline of reading, listening to podcasts, or watching YouTube videos that broadens your understanding of this business is crucial for continued growth.
Reading can include articles and books related to real estate. Reading about innovative ways to run your business, increase your marketing skills, or hone your sales process will benefit your business growth. Podcasts and audiobooks provide ways to learn on the go, whether you’re in your car or exercising at the gym.
YouTube search offers a way to learn anything that interests you. Just type in the YouTube search bar, “how (what you want to learn)”, and there will be thousands of videos available to teach you anything you want to learn.
Studying and learning ways to work smarter and better serve your clients will always lead to a growing real estate business.
2. Focus on your physical health
Your physical health plays a vital role in your performance as an agent. Your physical condition will determine whether you can provide the energy, passion, and stamina to perform at your highest possible level.
Are you eating the foods that keep you healthy? What we put into our bodies directly affects the results we see in our real estate businesses. Do you sweat at least three times a week through physical activity? Better physical condition leads to better business results.
Focusing on improving your health is a discipline that helps your business now, but it’s also a decision your future will thank you for as well.
3. Find a role model or a coach
You wouldn’t attempt to climb Mount Kilimanjaro without a sherpa to guide you to the top of the mountain. To be the best agent you can be, finding a mentor or coach to guide you to peak performance is one of the most critical steps in reaching new levels.
A mentor can be another agent or broker who has achieved the level of success you want to achieve. When looking for a real estate coach, it’s crucial to find someone who is used to helping agents achieve their goals. Find mentors and coaches who operate from a place of experience rather than theory.
Whatever it is for you, your next level is made easier by aligning yourself with someone who has done it or who has helped others do what you seek to do.
4. Make a clear and concise plan
Clearly stated goals and objectives for your business set the stage for your success. Start with the end in mind and complete the activities to get there. Here is an example of what this action plan might look like.
Start with your goal. For this example, we’ll use a goal of $ 120,000 in annual income. The next step in the process is to identify your average selling price.
Multiply the average sale price by the average commission rate for your region to get your average gross commission per transaction. Finally, multiply the gross commission by your split to identify your average net commission per transaction.
For this example, we’ll use an average net commission of $ 5,000. To reach the goal of $ 120,000, you will need to complete 24 transactions. Suppose you are using the industry standard of 50 real estate-related conversations resulting in a real estate transaction.
In this case, you will need 1,200 real estate conversations to reach your goal of 24 transactions and $ 120,000 in annual income. Based on five calling days per week, you will need 100 real estate-related conversations per month, 25 per week, and five per day.
Now expand the lead generation structure to make sure you can generate these five honest succession-related conversations on each of the five days you call each week. Once you’ve broken down your goals into bite-sized daily portions, the ability to move in the direction of your success is clear.
5. Take massive action!
If you want more results, do more. Periods of trade expansion are almost always preceded by massive action. If you really want to grow your business, what are you willing to do beyond what you are currently doing to see those goals come to life?
Taking massive action that leads to massive growth starts with evaluating the activities that you are currently doing well. Study the transactions you have generated over the past 12 months. Were there specific activities that generated or led to this transaction? Once you’ve identified the action that led to the most trades for you over the past 12 months, get started on that activity!
6. Give without delay
The agent that grows the most in the coming year will be the agent that gives the most value to the market. What can you do to give more to your customers, fellow agents, and your community as a whole this year?
How will you become the bridge between your ideal clients and where they want to go? Are you going to create more video content about the buying or selling process? Will you provide more informative and entertaining market updates? What will you do this year to give more?
By giving more, by receiving more, it’s just around the corner.
The results that you will see in the coming year will come directly from who you choose to become. Make a commitment to yourself to be better next month than you are today. Commit to being a smarter agent. Commit to being a healthier agent. Commit to aligning yourself with the right people to help you grow and commit to having a clear path to your goals.
Grow and your business will follow.