The holiday season is here! While most real estate agents are preparing for hibernation, many real estate sales team owners are fresh off their teams’ business planning retreats (and “advances”) and are dreaming of the magic that ensues on the magical day of this magical month - the first of January.
On this long awaited day, suddenly those agents who just a few days earlier would be described as lazy and negative are now showing up early on your team zoom meeting with smiles on their faces full of gratitude and motivation.
Yes! The magic of 1/1!
Ok ok. I will stop here with sarcasm. I couldn’t resist. Over the last decade, I’ve been a mega agent, owned a sales team, built brokerages, and led a national sales organization and have witnessed countless top producers, including myself, fall into the 1/1 trap.
This trap is very easy to fall into and most are in it by the time November is over. There is the week of Thanksgiving that serves as the door into this trap and then Christmas music hits the air and you’re toast. Fewer and fewer client calls are coming in as they are hunkering down for the holiday season. You and your team members start taking long weekends and/or vacations. It actually feels like the norm the same way that Sundays feel different from Wednesdays.
What do we do? We succumb to this norm without even realizing it.
Until now. A great coach of mine always told me that awareness in itself is transformational.
So what do we do now?
Now you have a choice. You can either consciously succumb to the 1/1 trap or you can consciously take actions to avoid it.
If you’re interested in the former, please stop reading now. If you’re interested in the latter, read on.
First thing is first… Your “next year” is already here! Any potential client you are talking to today will most likely settle next year. Why is this important? If your next year goals are higher than this year’s production, you will need to increase your actions in order to produce higher results. And when do you have to increase your actions?
Now. Not in January. If you wait until then, given the 30-90 day sales cycle, you will be behind.
For example, let’s say that you’re averaging 10 units per month this year and your profitability goal for next year requires 12 monthly closings, everything else remaining the same, you will need to increase your activities by 20%. If it took you 20 client conversations to produce one transaction, or 200 to produce 10, it now will take 240 conversations per month or 2,880 total for the year but only if you start now since today’s client conversations and appointments most likely go on next year’s scoreboard.
So what happens if you do wait until January to increase your activities? You now have to compress those 2,880 conversations into 11 months and average 262 per month - over a 30% increase in level of activity from this year’s benchmark.
Not impossible. Just significantly more difficult. It’s kinda like competing in a running race and walking for the first 10% of the distance. Can you catch up to the rest of the field? Sure. It will just put more strain on your body and increase the chances of getting hurt.
Next is team member conversations and evaluations.
Do they want to avoid the 1/1 trap? If not, be very afraid. You probably have a business values misalignment. That does NOT make them a bad person or you better than them. You’re just after different things - you want to win the Super Bowl and they just want to play the game.
Are they willing to increase their activities now to reach their own financial goals? If not, see paragraph above as it most likely applies. At the very least, you may need to add a few more players to ensure that their combined goals add up to the volume/transactions that you need to reach your personal profit goal.
Finally, cut the non-performers. I do not mean to be cold-hearted. I am actually a really nice guy who knows the following after years and years of working with top team real estate rainmakers:
I am not Tony Robbins. And neither are you.
How do you know who is a performer and who is not? I look at two things: their actual sales performance and the attitude that accompanies that. Rate each and you’ll have one of the following:
High performance; great attitude - clone them
Bad performance; great attitude - they may not be cut out for this industry. You’re probably holding them back from something really great. Stop it.
Great performance; bad attitude - they may not be cut out for your team. You’re tolerating something. Stop it.
Bad performance; bad attitude - Seriously?
Above are designed to give you some food for thought rather than recommendations. I do not know you or your team members. As I told classes full of megas when teaching hiring courses, do not fire anyone today just because you heard me say something. I request you do the same, reader.
Regardless of what happens, going through the conversations and evaluations of team members will provide you with knowledge of what may or may not be working when next year rolls around. And, as I said above, awareness in itself is transformational.
Finally finally… surround yourself with other mega’s who also want to get untrapped. This is key. Chances are, your entrepreneurial nature and type-A personality make you believe that you can take on the world… all by yourself. In my experience, we tend to go further and faster together with other top minded folks.
Your environment matters more than you think! It either supports your team’s goals or it thwarts them!
Happy new year! Let’s get em!