Real Estate Accountability

From the start, the vision for everything we’re doing at Sisu was explosive growth. We wanted agents setting personal records every single year. This is something I’m very passionate about.

 

Today, thousands of agents of all experience levels benefit from our processes. It’s especially exciting for me to see a group of first-year agents who have used our approach to shatter the learning curve and are turn heads within the industry, even those of experienced agents.

 

I knew that accountability was the key to real estate success, but even I was surprised when we saw first-year agents closing 30-50 deals with some impressive consistency.

 

The fact that first-year agents were so capable of benefiting from Sisu goes against the odds. As you may know, 87% of new real estate agents fail within five years.

 

It’s hard for me to generalize exactly what made them so successful, but I can tell you what I’ve gathered from personal discussions and observing our dashboards: first-year agents are capable of shattering the learning curve when they focus on the basics and create a strong foundation of accountability.

 

First-Year Agents (Can) Have a Distinct Advantage

 

I’ve noticed that it’s common (and easy) to lose sight of the basics as a real estate agent.

 

Once you’ve been in the business for a few years, you create a lot of moving parts. While operating at a light speed, it can be easy to forget to fuel your business. Halted growth and feeling “stuck in a rut” are are pretty common symptoms that you’ve forgotten the basics.

 

As a first-year agent, you either fuel your business or you die. Losing sight of the basics isn’t an option. It’s pretty black and white. The 87% that fail aren’t successful because they sit and think of making the calls rather than actually making them.

 

The successful group that I’ve talked with are hyper-focused on activities and goal setting. They set goals that will allow them to be successful, then hold themselves accountable to that no matter what. They track all the most important activities that will generate cold, hard cash. These include:

 

  • Contacts (hitting the phones!)
  • 1st-time appointments
  • Signed buyer broker or listing agreements
  • Clients under contract
  • Deals closed (and the $ generated from them)

 

It’s been really cool to watch these agents run their business with such a simple perspective.

 

To these agents, this business is easy. Here’s what it looks like from their eyes:

 

Successful first year agents start mapping out their day before they arrive at the office. They arrive and time block 2-3 hours to ensure that they hit their contacts goal.  This is where it all starts. Knowing who they want to call and using a dialer allows them to get into a groove to knock out their calls quickly and painlessly.

 

Once they hit their goal, they can move on with a well-earned sense of accomplishment—and it’s not even noon!

 

Their afternoons consist of appointments to sign new clients and showing houses. Because they’ve been making their calls, there is never a shortage of either.

 

Alternatively, I’ve watched agents come in like a wrecking ball and announce (up front) that they are going to be their teams next big producer. Then I watch as day after day goes by and they never make their contacts, and therefore, never hit their goals. They’ve lost before they’ve even (truly) tried.

 

The best piece of advice I can give after working with countless agents (and selling over 40 homes in my first year) is to just jump into things. Don’t miss your contacts. Schedule time blocks into your calendar. Track all your numbers so that you can course-correct whenever you fall behind—you need to be accountable to somebody, even if that’s yourself.

 

Also, don’t feel like you need to shadow other agents for months. The best way to learn is to go out by yourself and fail. Even if you get hung up on a hundred times a day, you’ll learn the skills you need to dominate this business.

 

 

NOTE: Every. Single. Person. in the business should run this exercise. It takes into account your desired production, efficiency, and market to give you baseline measures to shoot for each month.

 

 

 

The Second Element for Explosive First-Year Agents

 

Thinking back to our superstar first-year agents, there’s another element that I think it’s important to point out—coaching, formal or informal.

 

At some level, there was somebody analyzing the agent’s business and helping them pivot to see better results. The only way this can be truly effective is if that coach can see exactly how they’re performing. They need to see the numbers.

 

This holds true for coaching at any level—whether it’s from your team leader, broker, a friend, or even yourself. Trying to improve a business without seeing the numbers is just a shot in the dark. Your business controls you instead of you controlling your business.

 

I highly recommend finding a coach, a team leader, broker or mentor. Many shy away from coaching because of the costs. Would you pay $12,000 to make an additional $100,000?  Most won’t. I did.

 

The success stories we’ve seen (and continue to see) track all the key metrics daily and have them readily available for coaching. They frequently break them down themselves and they’re ready to talk about them with more experienced agents whenever the opportunity arrives. This becomes their passion. The progression is addictive and fun.

 

Knowing your numbers creates a foundation of growth for your business so that effective coaching/mentorship becomes a possibility.

 

Now, Imagine….

 

When first-year agents have a strong foundation of accountability, their results are spectacular.

 

When experienced agents take the same approach as first-year agents, the results are newsworthy. First-year success is difficult. Nobody knows who you are, and every closed deal is hard work.

 

Once you’ve been in the business for a few years, it becomes a lot easier to have success because you reap the benefits of repeat business. People know your name in the real estate world.

 

That easier success often breeds bad habits because experienced agents forget the basics that were driving their business in the first place.

 

When experienced agents focus on goals and accountability the way that a first-year agent would, their growth is exponential.

 

If you could look at the journey of any top producer, you would see that they never lost sight of the basics. Most had a coach or team leader to hold them accountable. This is how they came to dominate the business.

 

Just like them, you’ve got to know your magic numbers—the ones that will drive your business to success. After that, it’s just a matter of holding yourself accountable and analyzing results to make improvements.

 

I’m hoping that you can take a step back, simplify your business, and focus on the core metrics that are truly driving success.

 

And remember, if you’re not tracking these metrics, you aren’t really focussing on them.

 

Not sure what your goals should be?

 

This calculator below will calculate the perfect goals for your business.

 

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