Stuck or Scaling: The Bifurcation of Today’s Agents & How to Move Forward
Let’s break down some numbers really quickly…
There are somewhere around 1.5 million licensed agents in the U.S.
But of those, only 57% have actually transacted a deal this year.
So there’s approximately 850,000 agents handling this crazy market we’re in right now.
And as I look out on everything going on, I can’t help but see two entirely different types of agents…
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Who Are These Two Groups?
When it comes to how to be successful in real estate, the first group is those agents who are trying to do it all themselves, and because their productivity is tied directly to their own actions, they’re STUCK. They’re already very busy, and there’s simply no time for them to possibly achieve more.
The second group is those who recognize the tremendous opportunities in today’s market and are actively taking steps to SCALE every facet of their business…
- Their brand – and along with it, the trust they’ve built in their communities
- The number of appointments they’re going on
- The number of listings they’re taking
- The size of their team, hiring assistants, a transaction coordinator, more sales agents, or marketing help
- Their market share
- Their total transactions
- Their GCI and bottom-line income
- Their quality of life
It’s obvious which group you want to be a part of.
But… which group are you actually in? Think about it and let me know below.
Get Out of the “It’s Gotta Be Me” Mindset
Far too many agents I know believe things like, “Well, I’m the only one who will do this paperwork the right way.”
In the process, they’re stifling their growth.
It doesn’t matter if you do paperwork better than anyone. Who cares? It’s not getting you where you want to go.
I’ve heard a stat that there are 11 hours of “work” involved to close out a file during every side of a real estate transaction. How many of those 11 hours are you involved in? The best answer here is, “None, Tom! I outsource it all!”
What’s your answer?
Be Willing to Do What Others Won’t
If you’re starting to realize that you’re in the “stuck” category, here’s step one… Acknowledge it!
Ask yourself this question and really answer it: “What are the constraints of my growth?”
I want you to dig in and really get into the nitty-gritty… What’s stopping you from building your brand so people see you everywhere? What’s preventing you from making more calls? What’s stopping you from turning your marketing up to 11 (yes, that’s a Spinal Tap reference) with more videos, more direct mail, more social posts, more paid media, etc.?
The answer you’ll probably come up with is resources: Not enough time or money.
When resources are holding you back, it’s time to get resourceful.
Whatever you do, don’t let the greatest real estate economy in your lifetime pass you by because you’re unwilling to hire some help, delegate paperwork, or invest in your future.
It’s time to figure out how to overcome the challenges you face and start making hay.
A Simple Script for Step 2
The fact of the matter right now is there isn’t enough inventory to meet the buyer demand.
So it’s up to you to go further to help create that inventory.
How? By making sure you’re informing homeowners of the opportunities out there right now.
You can’t sit around waiting for people to call you. You need to be proactive.
And here’s a simple script you can use with every single person in your database.
I want you to call, text, or email every one of them individually (not a mass email) to touch base, re-establish rapport, and ask one simple question:
“How has the market changed the way you view your house?”
Then listen. Provide them data about home price appreciation, buyer demand, and how many offers homes are typically getting in your market.
Then ask, “Have you given any thought to making a move?”
Now is the Time!
I hope you sense my urgency here. Moments in time like this don’t happen every day. The opportunity is high.
Don’t let yourself be stuck in one place when there’s a world of vast potential available to you.
Do what you need to do to SCALE!
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