Lars Hedenborg shares five strategies for a cooling real estate market: cut 25% of expenses in 60 days, track daily lead generation, recruit aggressively, use a 60-touch database system that drove 35% of his $100M+ volume, and master sales scripts. He expects the shift to last 6 to 18 months.
Questions this video answers
October 28, 2016.
25% of expenses over the prior 60 days.
A 60-touch system, credited for 35% of his over $100 million in volume.
About 6 to 18 months (mentions 6 months, 12 months, maybe 18 months).
Hey, real estate B school community. Lars Hedinborg here with another weekly message. Today we're going to talk about the five strategies for a shifting real estate market. Before I get into it, I want to go through the mission, right? So this is why I do what I do. It's to help you, real estate agent, to build a highly profitable business through the use of sustainable systems and empower people so that you can systematically increase your time away from the office and to also systematically increase your net worth. All right, so let's get after it here. So there's five things I want to go through here. We are headed into a shifting market. I hope it's not a devastating shift. I hope it's not a huge economic event, but the market has to cool down around the country. So 6 months, 12 months, hopefully maybe 18 months if we're lucky. You've got to start thinking and acting like a shift is coming. Cut expenses and maximize your roi. In Real Estate B school, we have tools to help you do this. We've got the ultimate business tracker that we use. But you've got to look at every penny you spend, every dollar you spend, and it's got to be making money for you. So cut it out. We cut out 25% of our expenses over the last 60 days to prepare for the shift and our business won't miss it, right? Good times you spend, you overspend. You got to track your activities. You got to track and quantify. You got to know five days a week, three hours every morning. You have to generate new business, focus on new business every day and track those activities. How many contacts are you making? How many appointments are you setting, how many you're meeting, how many are you signing, right? How many soi connects are you doing? How many open houses are you holding, how many go for no's. Like, there's all these things that we track on our team and then we help real estate B school members track. Ramp up your recruiting efforts, get a recruiting system in place, right? That's the huge strength in real estate B school. But if you're not part of real estate B school, you've got to focus on there's a lot of talent that's going to come free in a shifting market. People are going to be running for the hills and you've got to stand your ground and pick up that talent and go deep on a raving fan club, right? Database and referral marketing should be a huge pillar in your business. In real estate B school, we do a 60 touch system and it's responsible for 35% of my over 100 million in volume. So make sure you do that. And you've got to master your skills, right? You've got to get a master lead generator and a master lead converter. Know your scripts, role play daily. Really take the job of real estate agent. It's a sales role. It's not showing homes, it's not writing contracts. Your first job as a real estate agent is a salesperson. So you got to embrace that. What's your takeaway? You got to take action in order to move your business forward. I love this quote. Success is doing ordinary things extraordinarily well. Success is doing ordinary things extraordinarily well. Go deep on everything you do. Don't chase the squirrels. If you have any interest in building a real real estate business, take action right now. Click on the link and schedule a free coaching session. There's no obligation whatsoever. Just schedule a free coaching session and we'll get on the phone and really kind of figure out where you are right now in your business, where you want your business to go and what's holding you back. So it'd be a valuable coaching session. But only take us up on the offer if you're truly serious about building a sizable, substantial, a leveraged real estate business. Until next time, real estate B School Community. This is Lars Hedenborg. We'll talk to you later. Bye bye.
