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What it takes to WIN in a failing market as a Realtor

August 08, 20234 min read

"Most wars are won or lost in our own heads."- David Goggins

Introduction:

When everything, and everyone points to the dreaded BEAR MARKET; people start to panic. BUT; I'm not here to tell you not to panic, or tell you everything's going to be okay (because it's probably not); I'm going to tell you how to deal with a bad market no matter how bad it gets.

(P.S) Most things we talk about are practical step by step but this is a mind set tutorial. Which in most cases is FAR more important than the step by steps.

8 Reasons

With that said...

What separates the people who win vs the people who... don't

Shiny Object Syndrome-

Does this sound familiar?:

You find out about some new awesome SECRET way to generate leads, and finally get closings! It's (insert whatever thing a guru or company is trying to sell you). So you try that new "SECRET" for a couple of days or weeks- putting in work or money whenever you feel motivated.

(and yes we're guilty of selling our own secrets too)

And then after a couple weeks you see that there's a ton of problems, with the "New Secret Method" to get leads. So now you're less optimistic.

And then you find out about the NEXT shiny outreach method, or ad strategy that will finally get you results.

and so the cycle continues!

The real way to get leads.

The truth that no marketing agency, guru, or WHOEVER that's selling you that secret wants you to know is that... EVERYTHING works!

Door knocking,

Cold calling,

Direct mail,

Facebook ads,

Google PPC,

The KEY is consistency, and having the tenacity to push through the early stages of making something WORK for YOU!

The rule of 100 (Thanks Alex Hormozi)

If consistency is key then we need to figure out a way to track consistency! So the Rule of 100 is a method proposed by Alex Hormozi (CEO of acquisition.com) is to do 100 inputs a day to achieve your desired output?

So what's an Input and an Output?

An input is an action that you're doing to achieve the goal

and an output (shocker) is the GOAL!

Eg)

100 Doors Knocked/day

100 Dials made/day

$100/Day spent on ads

100 minutes of content produced/day

If we adhere to this rule then we can start focusing on things we can control.

We can't CONTROL (really) if one lead is going to say yes or no.

All we can do is give ourselves enough chances to get in front of someone who is ready to sell their home, and like you enough to give you a shot!

Beating Shiny Object Syndrome

So! to finally beat this disease we'll have to change out MINDSET!

Instead of focusing on the Output, we need to focus on the Input

If we shift our focus; we'll shift what we perceive as a "Win" for the day.

If everyday you do something expecting at the end of the day, or week, or whenever that you'll get a client then you're ultimately setting yourself up for failure. Because you WILL have a bad day, or week, or MONTH eventually.

SO, if we adjust our "goal" to just be hitting our outreach numbers then we won't be so down when it's been a month and still no clients (which is incredibly unlikely if you actually stick to the rule of 100)

The mindset of a master

So, you may be thinking "100/day isn't that much! I'll do 100 doors a day, then 100 dials a day... "

There's that Shiny Object Syndrome coming out again;

You see all of these inputs are a SKILL and the more you do a skill the better you get at it!

So if you just stick to one thing and do your 100 inputs, then spend the rest of your time trying to figure out how to make your script better, or your direct mail better, or you ad better... then you will become what actually matters.. a master of your craft!

and if you truly CAN do 200 inputs in a day.. then pick ONE method and just do that!

The Snow Ball effect

Now why consistency kills, is because over time people will eventually remember you. And past inputs will reach out to work with you (especially if you have awesome follow up systems like we offer at prospectflo.com) and new inputs will be interested.

So the new cycle is a system that rewards staying consistent.

A lead from this week maybe your next listing... or a lead from 6 months ago; or most likely both!

If you keep doing 100 outreaches a day; everyday like clock work for the next two year.

it would be UNREASONABLE that you aren't in a better place than you are now in your business.

And that's the mindset you need to have... we're running a marathon not a sprint. If you can keep pace and stay in the game long enough doing the things that actually will generate you business.

Then you will of course reach your goals!

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