As you get through this month, you realize that 2019 is halfway completed. If you put your CEO hat on for a minute (as you should every month) you can step back and take a look at where you are financially, what’s working, what’s not and find places that you can immediately adjust.
THE BIGGEST DOWNFALL of every agent that fails is simply that they start focusing on expenses rather than income. The CEO that has no idea how to run a business profitably will mistakenly think that cutting expenses actually “saves” money. In reality, it causes them to bleed out a slower death. Their business is still going to die very soon, it may just last another month before doing so.
Let’s be clear that saving $500 or even saving $1,000 means absolutely nothing to your business. If you are considering a marketing mailer and it’s going to cost $700 to send it, there should be NO QUESTION as to if you should send it or not because if the piece is good, it makes you over $10,000. What are you going to do with $700? Stay broke?
I’ve actually met agents that have struggled for years and continuously mounted up more debts month after month, joined my coaching for a few weeks, then cancelled saying they don’t have extra money.
No silly, you signed up so you can GET extra money, not because you had money to spare. Might I remind you that people are making hundreds of thousands of dollars with this stuff? What are you going to do with the few hundred bucks?
In an extreme example, I spoke to an agent last month that has “only closed 5 transactions from Facebook ads this year” and it’s costing him $200 per month but times are tight now so he’s turning off the Facebook ads. So the first 4 months of the year cost him $800 in ads and he made over $31,500 but he’s having a bad month so he’s gonna kill it. Genius.
For most agents, the only thing they need to do to fix their income is invest more money in marketing. Of course, it needs to be PROFITABLE marketing, not trash that gets zero results.
We are about halfway through the year and for the approx. 1.2 million Realtors in America, if they are succeeding and earning huge income, it’s their fault. If they are drowning in debt and things are getting worse, that is also their fault. The CEO makes the decisions that cause the company to be profitable or be bankrupt. And every decision matters in the marketing, training and systems world.
Imagine how strong the last half of the year would be with a detailed and systematic approach that you actually FOLLOW for profit. Any agent can very quickly and very profitably turn their business around like turning on a light switch. Think about where you are attracting business from and what approaches you can ADD to generate more closings. Let me know if you need help. greg@gregluther.com
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