2024 has been quite a year for the housing industry. Interest rates kept us on our toes, the dust is still settling from the NAR settlement, agents are retooling their buyer and listing systems, we are digging an even greater hole in terms of our inventory, and now we even have insurance issues to bear. This year challenged both new and seasoned real estate professionals. Despite the challenges, there are big opportunities ahead for agents who know where to look.
Highly acclaimed by past attendees, State of the Market includes crucial information about important changes happening in our industry, historical and current market conditions, researched insight and predictions of where our market is going, and opportunities and talking-points for brokers to explore and capitalize upon.
When I first started selling real estate, I was a young "whipper-snapper" who wanted to set the entire industry on fire. I had it all planned. I was going to be the Number One real estate agent in America - no, the WORLD! - and I was going to do it alone.
Being young and naïve, I truly believed I didn't need anyone else. I wanted to do everything myself. I wasn't going to ask anyone for help. I wanted to be successful and thought that the definition of success was doing it all myself.
How wrong I was and my, how time changes things!
Now I look at that girl with her new agent's license and laugh. If only I could step back in time and tell her all the mistakes she was going to make - but she wouldn't have listened anyway.
The biggest difference between Me-Today and Me-Then is that Me-Today understands that helping others to succeed has made me happier and more successful than ever trying to do "it all" for myself. The key to my success as an agent was my eventual realization that "going it alone" is a surefire way to crash a business quickly. It took me years - seriously years! - to learn this lesson. Giving up control of every detail of my business was one of the most difficult tasks I ever had to face.
If I could show Me-Then how my business works today, she would be shocked at how willingly I delegate. I think that Me-Then would be surprised to see that by delegating, I now make more money and have more time to spend with my family and kids than ever before.
Don't get me wrong, there are pitfalls to delegating tasks to others, but the upside to delegation vastly outweighs the downside. The key is to delegate to people you:
It's not always easy to find such people. That may take a while, but once you do you should hold onto them for dear life! Treat them well. They will be the cornerstone for your success.
In order to get to the next level of your business, delegation is absolutely necessary. All of the best-of-the-best agents I know have this trait in common. They have learned to trust others and let go of the control reins.
This goes for hiring outside help as well. You may have certain ideas for your business that you love, but they may be bad ideas. It is always better to let somebody that is an outside professional tell you what has been tested to work.
I have agents come to me and say, "Denise, I used to work in so-and-so business and I know all about marketing." When I hear this, I know I have my work cut out for me. When it comes to real estate, I know exactly what works and what doesn't. What works for a convenience store or a dental office doesn't work for real estate. Doing things your own way because you think you're an expert on everything is only another obstacle you're placing in front of yourself on the road to success.
Let the people who know handle it for you. When you come to me, you cut anywhere from one to ten years off your learning curve.
Check out our LeadMagnet program or email solutions@thelonesgroup.com for more info.
Besides success, another key benefit of not going it alone is time. There are only 168 hours in every week. There is nothing you can do about that. A huge chunk of that 168 hours is going to be spent sleeping, eating, washing, getting dressed, and driving. That leaves only a handful of hours to get done what needs to be done.
Eventually, as you get busier and busier, you are going to run out of hours. This is why you need leverage if you're ever going to move up to the next level. Agents strive to be busy, because being busy is equated with success. However, being busy just creates more busyness. Then, that busyness creates even more busyness.
Suddenly, that eating and sleeping part of the 168 hours is being chipped away and your work becomes 50% or 60% or even 70% of your life. This is the road to cardiac arrest. Without time to breathe and relax, the human body cannot re-energize. Agents that fall into the busyness trap either burn out, drop out, or wake up to the power of delegation.
One of the greatest ways to increase your productivity to the next level is to hire an assistant. I know you think you may not be able to afford one right now, but I promise you that you'll be amazed at how your business grows when you do.
Even if you have only a part-time assistant, you can increase your business tenfold. The power of having someone else handle the day-to-day scheduling tasks that drive you nutty is incredible. It may not be as expensive as you may think! Especially when you consider how much more money you will take in as a result.
Who else can you delegate tasks to?
I couldn't do what I do today without the people I rely on. Learning to let go was one of the biggest lessons I ever learned. Trusting the expertise of others is critical for your success. Resolve to stop "going it alone" today and watch your income and personal time soar.
By Denise Lones CSP, CMP, M.I.R.M.The founding partner of The Lones Group, Denise Lones has over three decades of experience in the real estate industry. With agent/broker coaching, expertise in branding, lead generation, strategic marketing, business analysis, new home project planning, product development and more, Denise is nationally recognized as the source for all things real estate. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.