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Closing Strong and Setting Up Your Real Estate Business for Next Year · Unstoppable Real Estate Agents

• 0:00
  SPEAKER_00: Hi everybody, this is Kim Hughes, and welcome to the Unstoppable Real Estate Agents Podcast.
• 0:06
  SPEAKER_00: We're going to talk today about the fourth quarter of the year and what do you need to do to wrap it up and be organized as you start your new year.
• 0:17
  SPEAKER_00: Welcome to the Unstoppable Real Estate Agents Podcast.
• 0:21
  SPEAKER_00: I'm your host and real estate productivity expert, Kim Hughes.
• 0:26
  SPEAKER_00: Join me as we focus on real strategies and implement real solutions designed for you to achieve major success in your business and life while getting you organized.
• 0:39
  SPEAKER_00: So this may be a podcast where you might want to grab your notebook and make some notes, okay?
• 0:45
  SPEAKER_00: So the first thing I'm going to talk about is we are in the fourth quarter.
• 0:50
  SPEAKER_00: You do need to get your business wrapped up.
• 0:52
  SPEAKER_00: If you are really busy this year, you really need to set aside a day where you can focus on getting your closings organized, you getting your listings organized.
• 1:05
  SPEAKER_00: Who have you talked to that said, reach out to me after the holidays?
• 1:09
  SPEAKER_00: Who are those people?
• 1:11
  SPEAKER_00: Get that organized.
• 1:12
  SPEAKER_00: You need that list of people so that you're not scrambling at the last minute and miss out on an opportunity.
• 1:19
  SPEAKER_00: Okay.
• 1:19
  SPEAKER_00: You need to know what your markets are doing.
• 1:22
  SPEAKER_00: You need to know where you're sitting right now in the market.
• 1:25
  SPEAKER_00: And then listening to what people are projecting for the rest of the year as well as the beginning of the year.
• 1:32
  SPEAKER_00: Okay.
• 1:32
  SPEAKER_00: Because that's going to help you move the needle with your sellers and your buyers who are sitting on the fence waiting.
• 1:41
  SPEAKER_00: Um, I am of the mindset that if the interest rates just went up, I'm telling my clients, you better do something because if they keep going up, it's going to make it worse.
• 1:51
  SPEAKER_00: But once they come down, you can refinance, you know.
• 1:55
  SPEAKER_00: So a lot of this conversation about buying and selling in the in the fourth quarter, use that marketing strategy that yes, the interest rate did go up, but guess what?
• 2:06
  SPEAKER_00: When they come down, you can refinance.
• 2:08
  SPEAKER_00: And that is super simple.
• 2:10
  SPEAKER_00: People are not thinking about that.
• 2:12
  SPEAKER_00: And that will help people decide whether they need to get into a home now or wait.
• 2:17
  SPEAKER_00: So that is a great marketing strategy to talk to your clients about right now.
• 2:23
  SPEAKER_00: Okay.
• 2:24
  SPEAKER_00: Then I want you to kind of look at your systems.
• 2:28
  SPEAKER_00: I want you to take an accounting of everything that you have going on in your business.
• 2:34
  SPEAKER_00: You know, what is your what is your listing inventory looking like?
• 2:39
  SPEAKER_00: Where are you missing out on getting these listings sold before the end of the year?
• 2:45
  SPEAKER_00: What can you do to move those properties so that you can put them on your this year's record?
• 2:52
  SPEAKER_00: Okay.
• 2:53
  SPEAKER_00: If it goes into the new year, what is that marketing strategy with those listings?
• 2:59
  SPEAKER_00: What are you doing with those sellers?
• 3:01
  SPEAKER_00: Let's talk to the sellers because we are going into holiday mode and everybody gets busy, and we want to assure our sellers that just because we're going into the holidays does not mean that you're dropping the ball on anything.
• 3:15
  SPEAKER_00: As a matter of fact, you could be talking to your listing, your sellers, about how they're going to decorate for the holidays and what that looks like when it's when you're showing property during the holiday.
• 3:27
  SPEAKER_00: You know, um, do they go overboard?
• 3:30
  SPEAKER_00: Because they may not want to go overboard this year, you know, because if you go overboard, you can't see what's really in the home.
• 3:37
  SPEAKER_00: Um, so kind of talk to your clients about what's good, what your marketing strategy is for the holidays and have them kind of tell you what they are decorating with for the holidays and make sure you go look at what they have done to decorate because you are there to sell their home.
• 3:54
  SPEAKER_00: You are not there to be their best friend.
• 3:56
  SPEAKER_00: So if they are tacky and decorating, you need to help them.
• 4:01
  SPEAKER_00: Okay.
• 4:02
  SPEAKER_00: We want to sell their home.
• 4:04
  SPEAKER_00: So keep that in mind.
• 4:06
  SPEAKER_00: So the listing inventory to me in the fourth quarter is number one and looking at what you have going on.
• 4:13
  SPEAKER_00: Because if there is a marketing strategy that you can put in place that can get that property sold by the end of the year, that's a win-win for everybody.
• 4:22
  SPEAKER_00: So put that number one.
• 4:24
  SPEAKER_00: And then I want you to start looking at where do you feel the heaviest?
• 4:30
  SPEAKER_00: You know, meaning where did you feel disconnected in your business?
• 4:36
  SPEAKER_00: Did you feel scattered?
• 4:38
  SPEAKER_00: And try to sit down with yourself and ask you, why did you feel that way?
• 4:42
  SPEAKER_00: What can you do to fix that problem so it doesn't happen again or come around next year, or you don't experience that in the next year?
• 4:51
  SPEAKER_00: Okay.
• 4:52
  SPEAKER_00: So look at all of those ways that you felt um scattered, anxious, um, a little disorganized, and try to figure out why and then what can you do to fix it?
• 5:06
  SPEAKER_00: Okay.
• 5:07
  SPEAKER_00: Because if you had it this year, you're gonna have it next year.
• 5:10
  SPEAKER_00: So let's nip it in the bud and then work on it for next year.
• 5:14
  SPEAKER_00: Okay.
• 5:15
  SPEAKER_00: And then I want you to look at your buyers and say, what buyers do I have that are sitting on the fence that I might be able to move them by the end of the year?
• 5:27
  SPEAKER_00: If not, what is your strategy for the beginning of the year?
• 5:30
  SPEAKER_00: And talk to them about that and talk to your sellers about that.
• 5:34
  SPEAKER_00: And let me go back to the seller because once the holidays are over, we want them to take their decorations down.
• 5:41
  SPEAKER_00: I mean like the next day, okay?
• 5:44
  SPEAKER_00: Don't need all that clutter in the house.
• 5:46
  SPEAKER_00: So you need to have that conversation with the sellers, like, you know, you can decorate, but I need y'all to take that down the day after Christmas or, you know, at least two to three days, because we want everything fresh and ready to go come January 1st.
• 6:00
  SPEAKER_00: Okay.
• 6:01
  SPEAKER_00: Now, with the buyers, what strategy do you have with them?
• 6:05
  SPEAKER_00: You know, to finish out the year, and if they don't find a property, okay, that's great.
• 6:09
  SPEAKER_00: Now let's, what are you going to talk to them about in the new year?
• 6:12
  SPEAKER_00: Okay.
• 6:13
  SPEAKER_00: I'm going to recommend that in that last week of the year, you're looking at your markets and you're talking to your buyers about what is going on with the market.
• 6:24
  SPEAKER_00: Whether it affects them or not, have that conversation that shows that you are concerned, that you want to be there for them.
• 6:33
  SPEAKER_00: You're looking out for them regardless of the holiday.
• 6:37
  SPEAKER_00: Okay.
• 6:38
  SPEAKER_00: If you do those things, you're going to be setting yourself up for success in the new year, and it's going to be great.
• 6:44
  SPEAKER_00: Okay.
• 6:45
  SPEAKER_00: So now we're going to go back into your system.
• 6:48
  SPEAKER_00: So I want you to sit down and look at your CRM.
• 6:53
  SPEAKER_00: Is it updated?
• 6:54
  SPEAKER_00: Do you need to add your new past clients?
• 6:58
  SPEAKER_00: Do you need to add new leads and buyers?
• 7:00
  SPEAKER_00: Do you have a system for when you have a lead come in?
• 7:05
  SPEAKER_00: Do you have a system for your um when a new seller comes on board or when you onboard a new buyer or somebody that's renting or leasing?
• 7:16
  SPEAKER_00: Um, you know, look at these systems and look at your listing system, look at your um, you know, and when I talk about listing system, I'm talking about what does the system look like before you get to the appointment?
• 7:32
  SPEAKER_00: So there's a pre-listing, and then there's preparing for the listing, and then you're showing up at the listing.
• 7:39
  SPEAKER_00: So those three things are really important, and you need to make sure you know what you're doing at each phase.
• 7:44
  SPEAKER_00: Then when the listing is active, what is your marketing strategy, you know, so that you can tell the seller what you're going to do to market that property.
• 7:55
  SPEAKER_00: Then I want you to look at your under contract.
• 7:59
  SPEAKER_00: So once you get a contract on that property, what is that system?
• 8:03
  SPEAKER_00: What is the system for your buyer?
• 8:05
  SPEAKER_00: What is that system for your seller?
• 8:08
  SPEAKER_00: And just review it.
• 8:09
  SPEAKER_00: I'm not saying recreate the wheel.
• 8:11
  SPEAKER_00: I'm just saying look at it.
• 8:13
  SPEAKER_00: Does it still work?
• 8:15
  SPEAKER_00: If it's not working, tweak it.
• 8:17
  SPEAKER_00: You know, if you don't have one, now is the time to put one together.
• 8:22
  SPEAKER_00: And then you're ready for the new year, that first quarter.
• 8:25
  SPEAKER_00: You want to feel fresh and ready when that first quarter hits, okay?
• 8:30
  SPEAKER_00: And these are the things that you can do now that are going to help you be ready when that happens.
• 8:36
  SPEAKER_00: Um, I mean, we have a whole quarter here.
• 8:39
  SPEAKER_00: You have three months to do this.
• 8:40
  SPEAKER_00: So I'm not saying to sit down right now and do it, but I'm saying to set aside time, you know, 30 minutes, 15 minutes, an hour, two hours, a half a day.
• 8:50
  SPEAKER_00: Maybe you take a day and you go um wrench an Airbnb.
• 8:56
  SPEAKER_00: Go get you a hotel room and sit in there and just be quiet and do it and prepare for the end of the quarter and for the first of the year.
• 9:03
  SPEAKER_00: This would be a great opportunity for anybody to take the time, take a day, and go rent an Airbnb, and just for you, nobody else, and spend the night and spend a full day there and really tap into what is it that you want to do to finish out the year?
• 9:26
  SPEAKER_00: And then what is it that you want to accomplish next year?
• 9:30
  SPEAKER_00: And I'm not just talking about business, I'm talking about in your personal life as well, because they do intermingle.
• 9:38
  SPEAKER_00: And when you work on your personal life first, the business life comes in around it.
• 9:44
  SPEAKER_00: And so if I can give you another little nugget, don't plan your business first.
• 9:50
  SPEAKER_00: You plan your personal life first.
• 9:53
  SPEAKER_00: You plan time with your family, you plan time, you know, to look at the calendar and say, okay, we have date night, we have family coming in this time, we have birthdays, we have anniversaries, you know, we have all these things going on in our lives.
• 10:10
  SPEAKER_00: So put those down first, and then you work your business around it.
• 10:15
  SPEAKER_00: Okay.
• 10:17
  SPEAKER_00: That doesn't mean that you're gonna have to move some personal stuff around.
• 10:20
  SPEAKER_00: It just means personal comes first.
• 10:22
  SPEAKER_00: Your family comes first.
• 10:25
  SPEAKER_00: And when you do that, then the business comes together.
• 10:28
  SPEAKER_00: Okay.
• 10:29
  SPEAKER_00: So, like I always say, is you know, my faith is first, my family is second, my business comes third.
• 10:36
  SPEAKER_00: And I run my life that way.
• 10:38
  SPEAKER_00: That doesn't mean that sometimes it doesn't get out of whack and I got to readjust, but you you do have a you do have those three things to think about, okay?
• 10:48
  SPEAKER_00: So once you're starting to look at, you know, your you've got all your personal stuff done for the first quarter, and you know, maybe even go back and fill in what do you got to do for the rest of the year, and then, you know, kind of start penciling in things that you know are going to happen in the first maybe month or two of the first quarter.
• 11:09
  SPEAKER_00: Then start putting your business around that.
• 11:12
  SPEAKER_00: And when I talk about your business, I mean, yes, you need to go out and you need to visit with your community, your past clients.
• 11:19
  SPEAKER_00: You need to, you know, appreciate everything that everybody has done for you in your business, but then you've got to set aside time to work in your business.
• 11:30
  SPEAKER_00: So every week you should have time set aside to make calls to your past clients, cold calls.
• 11:37
  SPEAKER_00: How many people are you gonna call cold today?
• 11:40
  SPEAKER_00: 20, 25, 50, 100, 5, you know, whatever your personality is.
• 11:45
  SPEAKER_00: But here's where I want you to think when you're making those cold calls to these people that have never met you.
• 11:53
  SPEAKER_00: I want you to get no's.
• 11:55
  SPEAKER_00: How many no's can you get?
• 11:58
  SPEAKER_00: And this is a strategy that I was taught back in the day when I was in sales, and I was not an outgoing person, and I was timid.
• 12:09
  SPEAKER_00: And so my sales manager challenged me.
• 12:13
  SPEAKER_00: And so I was like, okay, we're we're we're gonna do it.
• 12:17
  SPEAKER_00: And I'm that person.
• 12:18
  SPEAKER_00: You give me a challenge, and there's a prize at the end of that challenge, I'm gonna win it, you know.
• 12:24
  SPEAKER_00: So put yourself into that place and say, I'm gonna make 10 calls today to cold that are cold.
• 12:30
  SPEAKER_00: And when I get done, I get to go have a pedicure, I get to go have a massage, I get to go get my coffee.
• 12:36
  SPEAKER_00: Whatever is gonna reward you to make you feel like you have accomplished that, then do that.
• 12:42
  SPEAKER_00: Because cold calls can be hard on people, you know.
• 12:45
  SPEAKER_00: But when they say no to you, they're not saying no to you.
• 12:49
  SPEAKER_00: They're saying no to the opportunity.
• 12:51
  SPEAKER_00: So you thank them, you hang up, and you pick up that phone again and you make that, you call that number again, another number.
• 12:58
  SPEAKER_00: So these are the things that I want you to think about when you're planning out your your week and your days and everything.
• 13:06
  SPEAKER_00: So now we have gone through and looked at what are we doing with family?
• 13:12
  SPEAKER_00: Now I've got my cold cause.
• 13:13
  SPEAKER_00: I've got to spend one, about a half a day in my business each week, making sure all my systems are up and running, I've got my marketing pieces updated, everything that I touch in my business, I need to give time to it throughout the week.
• 13:30
  SPEAKER_00: So I always say schedule a couple of hours and call it admin day.
• 13:35
  SPEAKER_00: And that's where, you know, you look at the day of the week that's your slowest and you commit.
• 13:40
  SPEAKER_00: You know, so if you say Tuesday from 9 to 12, I do not do anything but work in my business.
• 13:46
  SPEAKER_00: I look at my systems, I look at what needs to be updated, I need to look at what I put in my car, I need to know, you know, um, what paperwork do I need to update?
• 13:57
  SPEAKER_00: What laws do I need to learn?
• 13:59
  SPEAKER_00: You know, what's going on in the industry that I need to update myself on and become educated with?
• 14:05
  SPEAKER_00: These are the things that are part of your admin.
• 14:08
  SPEAKER_00: These are not, being an admin is not just, you know, opening up your laptop and working.
• 14:14
  SPEAKER_00: It's doing all the other stuff that people sometimes just don't think about, you know.
• 14:20
  SPEAKER_00: Go into your MLS every morning.
• 14:22
  SPEAKER_00: That's a routine.
• 14:23
  SPEAKER_00: That's not a habit, that's a routine.
• 14:25
  SPEAKER_00: And that is a routine that's going to move the needle in your business.
• 14:29
  SPEAKER_00: So that's where I want you to start looking is look at your business.
• 14:34
  SPEAKER_00: Where did you see some holes this year that you can fix so they don't happen next year?
• 14:41
  SPEAKER_00: How are you going to finish out this last quarter of the year?
• 14:45
  SPEAKER_00: And then how are we going to start the new year?
• 14:48
  SPEAKER_00: Okay.
• 14:49
  SPEAKER_00: And you might even set aside some time in the last week of December and say, I'm going to set aside one day to work on my marketing for the new year, my strategy for the new year, and get that going.
• 15:03
  SPEAKER_00: And if you're an AI person, go in there and talk to ChatGPT.
• 15:07
  SPEAKER_00: Talk to Claude about, you know, helping you move the needle in your business.
• 15:13
  SPEAKER_00: What can you do right now that you haven't thought of that maybe AI can give you some tips on?
• 15:20
  SPEAKER_00: What can it do to help you build systems?
• 15:22
  SPEAKER_00: What can it do to help you build out your first quarter of the new year?
• 15:28
  SPEAKER_00: So these are the things that we're talking about right now, and my company and we are working on, and we would be more than happy to have a conversation with you if you are struggling with where you need to be and what you need to be doing.
• 15:42
  SPEAKER_00: We can help guide you through that and help you pull that all together.
• 15:47
  SPEAKER_00: And so schedule a call with us.
• 15:49
  SPEAKER_00: It's 20, 30 minute, free call, tap our brain, get some information, see if you would like to work with us.
• 15:57
  SPEAKER_00: If you would, great.
• 15:58
  SPEAKER_00: If not, you at least will walk away with nuggets that you can put into your business.
• 16:03
  SPEAKER_00: So go out there and have a great day, and we will talk to you next week.
• 16:07
  SPEAKER_00: Bye.
• 16:08
  SPEAKER_00: Thank you so much for tuning in.
• 16:10
  SPEAKER_00: And if you know someone, and I bet you do, who would appreciate this podcast, please share it with them.
• 16:15
  SPEAKER_00: As a reminder, this podcast can be delivered directly to your favorite device by using the subscribe links you can find in the show notes below or over at Unstoppable RealestateAgents.com.
• 16:30
  SPEAKER_00: Remember, it takes as much energy to wish as it does to plan.
• 16:35
  SPEAKER_00: Have a great day.