Sarah's daughter requested a Stanley cup for Christmas. She could not find the color or right design anywhere, so she turned to social media. Responses poured in suggesting where to look and she started getting texts from people in stores offering to buy the right one. It was shocking how far this one post spread. We all have a village around us ready to jump in. Don't forget that and don't forget to also support your village.

Story time. Our team operates an office out of a co-working space. We own the building but we don't need that much space. Early on people would come in and inquire about purchasing a physical mailing address. Not renting office space there, but just getting an address. At the beginning, Mark was not interested but after the 5th inquiry, he realized maybe there was something to it. Today, there are about 40 "rented" mailboxes. Sometimes you have to listen and take outside cues to realize there are different avenues for you to generate additional income without too much effort on your part.

Like anything, a good idea was validated by demand. Real estate income can be inconsistent. Find a way to generate multiple pillars of income.

We recently had an agent submit an offer and receive a counteroffer. This led to a false sense of confidence and the agent thought it was a done deal. However, before their clients signed the counteroffer, the seller then received another offer. Luckily it worked out in the end, but that home very well could have gone to another buy due to a lack of urgency.

It might seem obvious, but this "time is of the essence" mentality is a critical aspect of the business that can sometimes get brushed aside.

Understanding and keeping track of what time frames are important should become second nature to you as an agent. The acceptance deadline, inspection period, contingency resolution, funding, etc. If you aren't on top of these time frames, you are putting your clients at significant risk.

Get ahead of things by setting a deadline for a deadline. If your loan commitment deadline is Wednesday, then set an internal deadline of Monday.

Objections are essentially a buyer's pain. To become the advisor that they need, you have to be able to fully understand their pain first. Where is their mindset or viewpoint coming from? You cannot add value to them without knowing where they are at first. Until they know you care, they don't care how much you know.

If you look at objections as a gift, they will actually help you to serve your clients better. You cannot add value if you don't understand what they need.

Committing to time blocking allows you to ensure you are harmonizing your time between family, life, and work. Sticking to these time blocks religiously eliminates work from bleeding into your personal time and vice versa.

Start by auditing and inspecting your time. Where is your time currently going? Then look at where you are most needed, when, and by whom. Fill those blocks in first. Then build around those non-negotiable times.

As your season in life changes, reevaluate your time blocking and adjust to stay on track. That's the beauty of real estate: you can structure your business around your life.

T.I.M.E. - That Is My Excuse. "I couldn't work out because I didn't have time." "I didn't get my prospecting calls done because I didn't have time."

We are all human and we all waste time. Additionally, we all need downtime to reset. But you also owe it to yourself for that to be maximized and used efficiently. Are you auditing your time and inefficiencies?

If you don't take personal responsibility for your time, it's actually selfish behavior. If you don't manage your time, then the inefficiencies bleed over into your time with family, friends, clients, and other. If you're spending personal time with others, then hang up and hang out. You shouldn't be half-focused on them and half-focused on your emails or texts.

Time block and be strict with yourself. You won't regret it.

Special guest Angela Nixon is with us this week. Angela has been an agent for almost 1 year, with 16 under contract or closed. She came from a retail background where they concentrated on relationships instead of sales. This should be how you view your real estate business as well. A prospective client can buy a home from any agent, but you want that lasting connection so that anytime in the future when they're ready to buy, sell, or invest, they think of you first.

Another lesson from retail includes being able to step out of your own judgment. Just because you don't like a home, if you see that your client is lighting up at a house, then put your feelings aside and support them. The house isn't going to be yours, it will be theirs.

For new agents or agents that are struggling in this market, you have to stay ahead of the game. Study the market, study the area you want to work, be available to your clients, ask questions, and don't be afraid to call around and talk to other agents. If you're prepared for how things are changing, you can adjust your strategies. Be proactive not reactive. Market knowledge will give you confidence.

Something else you need to focus on in this market is consistency. Maybe you need to devote 1 hour to prospecting every morning. Or 1 hour of follow-up every morning. Do an open house every weekend. Having this kind of consistency allows you to have time for yourself outside of work rather than trying to squeeze your life in around the inconsistent chaos.

There are a few basic components we focus on when training our agents. The first is previewing. How many homes are you previewing a week? It's probably not enough. Market knowledge is one of the most important tools to becoming a successful agent.

Second, is CMAs. There is so much information to be gained in the MLS and learning how to leverage that information is vital.

The third layer of basic training is offer strategies and how to apply them in different situations. Using the knowledge you've gained from previewing and running CMAs, what strategies would you employ for a given listing? If 4 of 5 comps sold at 98% of the list price, then offering over asking may not be the best strategy for your prospective buyer.

Practice these skills with your teammates and other agents. Practicing costs you time, but practicing on your clients will cost you both time and money.

How do you eat an elephant? One bite at a time. If you have a large goal or if there is something you need to accomplish that seems too daunting, just take things one small step at a time. Incrementally make changes to your daily schedule or life so you can accomplish that task over time.

Credit card debt is a good example. First, put together a spreadsheet of all the cards you have and the outstanding balances. What interest rates are they at? Tackle the highest interest rate ones first and start chipping away. Before you know it you'll be on your way to being debt free.

When you are overwhelmed, there are 3 responses: fight, flight, or freeze. Which one are you? If your automatic reaction isn’t to fight, then how can change your mindset? You can't become debt-free overnight. You can lose a bunch of weight overnight. You can't build a real estate business overnight. Don't let that be an excuse to not fight. Take things one step at a time.

Anyone can show up or do something one time or a few times, but conscious effort and commitment are required to keep going consistently. Business are built and leaders are proven over time not overnight.

It can be hard to stick with things when you aren't seeing immediate results, but you're in it for the long game. Think of it in terms of leads. These days, it takes an average of 27 touches to convert a lead!! If you give up on a lead after only 5 touches, you're missing out. You're running a marathon not a sprint.