Let me share a story with you about a tip I learned that changed my real estate career.
I entered the real estate business in April 2010 and initially stumbled my way through it. About a year later, in April 2011, a fellow agent swung by my office and told me they noticed I was working hard, but they weren’t sure if I was working smart.
When I asked that agent to explain what they meant, they asked me, “Do you know the difference between working on your business and working in your business?”
I said no and told them they both sounded the same. As it turns out, there’s a huge difference between working on your business and working in your business.
When you work in your business, you work with buyers and sellers, showing houses, writing contracts, etc. We call this the PLAN method—the “P” stands for prospecting, the “L” stands for lead follow-up, the “A” stands for appointments, and the “N” stands for negotiation.
Working in the business is what I was doing that day. It was a Tuesday morning in April and I was designing a brochure for a listing I’d just taken. I was also working on my Zillow profile and doing some other things that weren’t income-producing. We refer to these things as DPAs: dollar-producing activities.
“Working on your business means working on the things that build your business”
Working on your business, on the other hand, means working on the things that build your business—marketing, expenses, branding, etc. By learning the difference between these two concepts, I realized that I needed to be working in the business from 8 a.m. to 8 p.m. and working on the business either before 8 a.m. or after 8 p.m.
The minute I implemented this plan, my career took off. I went from having only three transactions in 2010 to having 21 in 2011. Then from 21 to 27 in 2012. Then from 27 to 75 in 2013. Then from 75 to 128 in 2014. Then from 128 to 151 in 2015. Then from 151 to 175 in 2016. Finally, in 2017, I went from 175 to 230 transactions.
The reason I share this information with you isn’t to brag. I have a Ph.D. in DUMB when it comes to real estate—I’ve done every dumb thing you can possibly imagine.
If you’d like to know more about how we train our agents to reach their highest performance level possible, don’t hesitate to call or email us. We’d love to talk to you.