Before you try a strategy or do something for a client, do you give it the “WIIFM” test?

“WIIFM” stands for “What’s In It For Me?”

You have to look at how something will be perceived by your client. Is it something that makes you look good or does it benefit the client? Is it obvious to the client that it benefits them?

Here is a great way to restructure your marketing and advertising dollars from just being expenses to putting your systems into profit mode.

If December is a slow month for you, will you….

A) focus more on shopping for presents?
B) attend more parties and drink more egg nog?
C) work on your 2009 businesss plan?
D) keep in touch with clients and continue to list and sell?
E) all of the above

The best answer is (E). You can do all of the above. You just need to prioritize your time better and work when you’re working and play when it’s personal time.

Many of us tend to look at our business cycles from Jan. to Dec., because of tax season.

I think that’s a dangerous thing to do, because if your sales typically slow down this time of year, it’s easy to get depressed, distracted and lose some confidence in your business.

I choose to look at my business through a quarterly cycle. I make a business plan for every 3 months. Now usually there aren’t significant changes to it, but when changes are needed, I am then quicker to respond and not fall behind.

You need to be looking at your first quarter plan right now.

Are you where you want to be in your real estate business?

What are your biggest concerns or fears about your real estate business right now?

You may have more than one issues and that’s OK to list too.

Take a couple of minutes and reply to my e-mail dan@agentsuccesscoach.com and write down what’s really holding back your business right now.

What I want to accomplish here is to find out what your concerns and roadblocks are and then I’ll come up with some answers and post them anonymously for everyone to benefit from.

I won’t list your name, so your privacy will be respected.

I believe this can be a great learning experience for everyone.

The reality is…we’re not in competition with each other, but only with ourselves. The more we learn from each other and take action on the ideas that work, the more skilled and compensated we all will become.

I’ve always believed and continue to believe that there’s enough business to go around for everyone who’s willing to work for it. The more business we do, the less business there is for those who shouldn’t be in real estate in the first place.

So, before you click off this post, click on my email dan@agentsuccesscoach.com and share with me what some of your concerns and struggles are right now. What is it that your need to get better at doing? Which parts of your business need the most help.

Now is the time that many real estate agents start working on their next year’s business plan.

Look at which target markets, i.e. expireds, fsbos, relos, REOs, client base, etc., provided you with the most business. Then analyze the info to see how you can improve your systems. In this market, it’s better to be an expert in fewer niches than a generalist in many. You should really focus on improving your skills in 3 - 4 target markets and truly master them.

Review at any transactions that fell through as well as prospects that were actively looking, but didn’t buy. Figure out what you could have done differently to keep the deals alive and closed.

Look at what steps you should add to keep buyers from slipping through your fingers. Did you not keep in close enough contact with them? Did you have a buyer consultation with them first? Did they not listen to your advice?

It’s often said that you can’t bring a dead plant back to life. Well, old leads are usually dead leads. But you can learn from it. Take some time to put new strategies together to convert more of the buyer leads you’re getting. Improve your skills by asking better questions, go deeper with your questions. Show people that you really care about helping them. Nobody likes to be sold, but if someone takes a real interest in you, you normally pay attention to that.

A well-rounded business plan also include marketing and advertising programs. Look at which programs provided actual leads and were profitable to you. Don’t advertise in magazines solely to appease your sellers. You need to either put that money elsewhere or improve your ads to be more direct-response; driving leads to you. In my opinion, over 90% of all magazine real estate ads are a waste of money. But when done correctly, you can generate leads from time to time.

Now it’s time to pull out all of your receipts for everything you spent money on. Go line by line and ask yourself, “Did this item make me a profit or was it money down the drain?” You need to let go of marketing and advertising that aren’t bringing you a return on your money. Now, I didn’t say to cut out all of your spending and go hide in a hole. But you need to look at which expenses are really necessary to help your business continue to grow.

One other thought: as you go through this process, you may want to bounce some ideas off your broker, manager or fellow agent, whose opinion and experience you trust.

Where do you want your numbers to be this year? Don’t listen to all of the naysayers out there. There’s enough business for those who really want it and will work for it. Do you want it?

In the end, you need a road map to know where you’re going in these challenging times. Review your business plan every day. It will help keep you focused. Do the activities consistently and the results will come.

Some dreams are suppressed, some are considered doubtful, while others may be happening right before your eyes!

Dreams are often easy to imagine, but acting on them and bringing them to life takes commitment and desire and persistence on your part.

Go through various magazines…Money, Fortune, Success, Robb Report, etc. Find magzines that are focused on your interests. It could be golf, travel, quilting, missionary work…whatever really gets you excited is what you need to clip out of magazines and put on your own dream board.

There are different types of boards you can use. Go to a printing company and they’ll be able to provide you with the right kind of board. Then after you fill up your Dream Board…take it one step further and take it to Kinko’s or somewhere similar and have them laminate it.

Now this process may take a few days or a few weeks to complete depending on how quickly you’re able to find the pictures and photos that really inspire you. Don’t be in a rush to just put any photos together. This is very important to assemble!

You may even want to start out with one or two 8.5″ x 11″ boards and work your way up to bigger sizes as you collect more pictures of your dreams. See the board to the left. It’s actually neon-yellow colored paper with hand-written quotes on it. That was my first Dream Board.

Also, here’s two walls in my office, where I bought many ‘Successories’ note cards and attached them to my walls. It allows me to read the sayings and use the power of visual photos for inspiration. Each picture and its scripted message has a different meaning to me and it re-focuses me when I review them.

Whatever you do, know that with all of the distractions happening every day, it’s important to stay focused on your goals and dreams for your life.

There’s nothing wrong with putting yourself in a ‘cocoon’ sometimes…shielding yourself from all the negativity.

When you have a blocked out time to make calls or work on a project, that’s the ideal time to be sure you don’t get interrupted…by other people or phone calls. You’ll achieve so much more when you complete the task at hand. So turn off any extra phones and tape a ‘Do Not Disturb’ sign on your door, so you can efficiently and effectively work on your project.

In the end, know that motivation is internal and you need to surround yourself with positive, successful people as well as constant and never-ending thoughts of what it is you want to achieve.

The #1 goal is to get prospects to contact you, so that you can qualify them. If you give people everything, they have no reason to call you. Then you won’t ever know who they are and won’t be able to help them.

We all know that consumers want to stay invisible as long as possible. Don’t we too sometimes? But by having them inquire about a property or service you provide, you’re potentially offering them something of value. Show them that you’re there to counsel them, not sell them. Nobody likes being SOLD!

Even though 80% or more of home buyers today search online for property, those and others still drive by homes in their areas of choice. Now go put your yard signs to work and generate some leads.

It’s time to go back to school.

With needing to learn some new strategies in this ever-changing real estate market, you need to keep pace with the changes, so you don’t get left behind.

We’re back in a cyclical buyer’s real estate market. Some of the causes for getting here are in dispute, but the reality is in many areas, housing inventory is high and buyers are scarce. This marketplace has created a hardship for some and found new opportunities for others.

What does that mean to you?

It’s time to RE-MAKE yourself!

You need to analyze your business plan and determine which parts of it can be profitable in this market. Focus more attention on fewer strategies. Figure out how you can go deeper into making those few strategies better. Instead of scattering your energy, trying to be a jack-of-all-trades, fine-tune your strengths and delegate your weaknesses.

It’s time to RE-EDUCATE yourself!

Now is the time to attend local and national training events…those that fulfill your continuing education requirements as well as topics that you have an interest in learning more about. One such constantly changing arena is in technology…web sites, blogs, RSS, digital photography, virtual tours, Twitter, Facebook, SEO, the list goes on and on. There’s so many exciting things to learn and so little time.

It’s time to take back CONTROL your environment!

Whatever is controlling the thoughts in your mind is controlling your life. Every day we are being bombarded with negative news about the economy from CNN, e-mails, billboards, direct mail and even the comments from family and friends.

You have to block it out…all of it. It’s hard to do…I know. Some things slip through the armour, but you need to keep as much of it out as possible. Otherwise, it can turn your positive thoughts into negative or scary thoughts. It can cause you to go from daily, consistent, action steps to into inaction and feelings of doubt.

Don’t allow that to happen. You are stronger than the outside negative forces. 94% of all people are still working. People are still buying and selling real estate. Yes, you will have to work harder and smarter to find them, but they’re out there.

Sure, there is concern and anxiety among many people right now, because they are allowing the media to scare them into inaction…and the sky is falling. Stop allowing others to influence your thoughts. The situation is not ideal right now, but you must do everything you can to stay focused on controlling what you can control…your actions.

We will get through this…we have to!

How many times over your career have you heard friends, family and clients tell you “Hey, I tell everyone I know about you.”

To which you reply, “Great! I really appreciate that.”

But in your own head, you’re saying to yourself, “That’s nice, but NO ONE has CALLED me!”

This is a case of “Blamus Realtus“.

What in the world does that mean, Dan?

I’m glad you asked.

This common and painful condition is the real estate agent’s fault.

Our family, friends and clients frequently come in contact with people, who are planning to make a move…whether buying, selling, relocating, etc. Sometimes it’s something they hear through the grapevine. Other times, they hear it firsthand and get a lot of details.

The problem for you is ‘you’ll rarely if ever hear from these people’.

Why?

Because you haven’t “trained” your family, friends and clients on how to properly handle that sometimes ackward situation, where they want to recommend you, but they either botch it up or don’t say anything at all.

We, as agents, have the word “referral” tattooed on our brain. We know what it means and how it can benefit our business. It’s used as common real estate jargon between agents every day.

But consumers don’t usually know how important that word is to us.

When the opportunity arises, you need to ask those, who ‘know, like and trust you’, if they’d be comfortable recommending you to others when the topic is broached.

If they say “YES”, then you need to share them the strategy that will allow them to help you help their family, friend or co-worker.

When they find out someone is moving, have them share some of your qualities with that person. Next, they need to ask “Would it be ok if I had ____ touch base with you and see how they can help you?”

Once they get the OK, they need to call you with the person’s name and number, so you can follow up. Please don’t do a hard-sell on the person. Remember, you were recommended and you need to honor that person’s trust.

If your phone has 3-way calling, see if your client would introduce you on the call, maybe say something nice about you and hang up while you go ahead to see how you can help your new, potential customer.

Remember, the biggest frustration many agents have is knowing that they do a great job in helping people with their real estate needs, but when they’re recommended by a friend or client, they never hear from the prospect.

Here’s a script you can use, “If you hear of any friends or co-workers wanting to take advantage of this buyer’s market, please tell them about me and then tell me about them.”

Each situation can be a little different, but come up with some ways to show clients and friends how to recommend you and you’ll add a few more transactions to your real estate business each year and it didn’t cost you a dime.