What’s in Your Real Estate Playbook?

Legendary coach Roy Munson returned to Waddell Realty to share some strategies from his playbook. The best way to kick off the week is with a WIN on Saturday. But you can’t count on luck every Saturday, you’ve got to have a solid playbook and practice, practice, practice.

The week before a closing can feel like 4th and Goal. Are you going to kick a Field Goal or go for the Touch Down? What’s in your playbook?

Roy Munson Strategies

REACT WITH INTENT: Your reaction should be intentional. This can only happen if you practice the plays in your playbook. Great Players develop instincts by practicing how to react to different situations.

PREPARED RESPONSE: “Here is a game you can play. It’s called look like you know what you are doing and just win the game.” Think it through by preparing several ways to respond to situations during the game.

IFTTT: If This Then That. Layout a step by step plan for what happens next. If this happens, then you do that. We call this “looking like a genius.”

EMERGENCY PLAN: You are in a tight situation and need to act fast. What do you do? Everyone needs an emergency plan when you don’t have enough time to think.

Don’t wait for things to happen to YOU, go out and make them happen for YOU.

How Much is Enough? Is The Best You Can Do, All You Can Do?

NO! What if we fell on the floor and did as many sit-ups as we could. Maybe all you can do is 5 before you say, “That’s the best I can do.” You facial expression will probably tell us that you are tired. But if you rest you can do a little more. REST, do a little more, REST, do a little more, REST, do a little more and you will eventually reach 50 sit-ups. 

How Do You Get Started? 

  • Do What You Can
  • Do The Best You Can
  • Rest Very Little

I love asking and getting asked tough questions. One of my favorite Jim Rohn questions is: 

How long do you want it to take to get really good at what you do?

The answer is NOT LONG. We should all be expected to double our value in a reasonable amount of time by making progress. Most people make REST an objective when it should be a necessity. The objective of life is to act. Take action now by doing what you can, the best that you can, and rest very little along the way. 

 

Jim Rohn was a world renowned Business Philosopher and this post is based on his writings. 

 

How to Take Your Career to The Next Level Part 1

A New Kind of Real Estate Office

Traditionally, real estate agents have been left to their own devices when it comes to operating their careers, and the manager’s role has been to oversee the agents and address and combat problems when they arise. We don’t know about you, but we didn’t enjoy constantly putting out fires and only reacting to day-to-day situations. We wanted more control of our office production and where we were headed as professionals. That’s when we decided to take a more proactive approach to real estate management. And that’s when we began to see agents blossom and reach their true potential.

You see, at Waddell Realty, we view each agent as a business owner who must treat his or her career accordingly. Any company can provide basic education about real estate and technical information. What we do is different. We take an active interest in each agent’s career and our goal is to help our agents build a successful real estate business. What we do isn’t for everybody, we’ll be the first to admit. But if you’re serious about your career and you believe in the tremendous opportunity available in real estate, we encourage you to keep reading to learn more.

The Coach Approach

After we changed the focus of our company, one of the biggest changes we made was to our day-to-day duties. As we said earlier, our role used to be that of paper pushers and firefighters. Today, we consider ourselves a managers/coaches who work with agents on an individual and group basis to help them achieve greater productivity and ultimately, more happy and successful lives.

In our role as business coach to those agents who participate in Waddell Realty’s coaching program, we help agents establish goals and objectives, set priorities, define values and determine where they want to go, not only in their careers, but in their lives. Together with each agent, we then help develop a plan to get there and accomplish each agent’s goals as well as the company’s. We strongly encour- age you to consider hiring a business coach or to find someone who can fulfill this role for you with the necessary objectivity. Your coach cannot be your best friend or your spouse. You need someone with a little distance, yet close enough to know you and your habits.

Real estate is one of the best business-building opportunities available today. When done well, you can earn more than you ever thought possible.

To continue reading please click here and request a copy of our Special Report How To Take Your Real Estate Career to The Next Level

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How to Manage Multiple Offers in GA

Oh No…..did you say Multiple Offers? What do I do? The real estate market is changing. As an agent, you need to be confident in your ability to represent your client, when multiple offers are presented. Here are the quick facts, as referenced in the Red Book:

  • Inherent risks are involved and it’s the Seller who decides to inform all parties. The Seller’s Agent must ask the seller if all parties involved should be notified.

An agent cannot disclose the existence of multiple offers without the Seller’s consent

In the State of Georgia, a seller may respond 4 different ways to multiple offers

  1. Give all brokers/buyers an opportunity to make their best and final offer by a particular date.
  2. Seller can make the same counteroffer to all of the buyers but restrict the terms under which it can be accepted. (see Red Book for language to insert in special stops)
  3. Make counteroffer to only one buyer and either take back-up contracts or keep other buyers on hold.
  4. The seller will counter more than one offer at the same time. (please don’t do this!!!!) This option is RISKY. The seller could have multiple binding contracts to sell their property to different buyers.

Until you have multiple offers physically in your possession, it will be difficult to determine your clients appropriate response. I recommend you contact your Broker for their opinion before proceeding. If you choose option #4 you should box up your belongings, because when your broker finds out he/she will transfer your license.

Take time to learn more about multiple offers. All signs indicate they will be around for a while.

 

Managing Your 168 Hours Step #4

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Step #4 The Hard Work of Having it All!!!

Once you evaluate where you are and where you want to be, you will realize there is time for anything that matters. It’s hard work having it all! No one is going to show up and give you everything you want. Follow these steps to get more from your 168 hours.

 

  1. Log your time
  2. Identify your “core competencies”
  3. Start with a blank slate
  4. Fill in your 168 hours with blocks of “core competency” time
  5. Ignore, minimize, or outsource everything else
  6. Time with Bits of Joy
  7. Tune up as necessary

Reading this book helped me realized I was throwing away small amounts of time throughout the week. The time log tells no lies. I’ve outsourced a few tasks at work and home, that freed up 3-4 hours a week for me. Over the next 40-60 days I’m working on freeing up (or reallocating) 10 hours for working and spending downtime with my family. Thank you Laura Vanderkam!!!!

Managing Your 168 Hours Step #3

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Step #3 @Home

Did you know the average American spends 20 hours a week watching TV? Leisure Time should make you feel happy and rejuvenated, not tired and depressed. To live a full life you need some rules for leveraging your downtime:

  1. Choose some activities that make you happy (exercise?)
  2. Block Time off in your schedule
  3. Make it meaningful by committing enough time to these activities
  4. Involve your family

The next question you are going to ask is, “How do I do this?”

  1. Get rid of your TV
  2. Plan ahead

We live in a world full of distractions and quite frankly it can be exhausting trying to keep. Treat your downtime seriously and refill your tank of will power each morning. Then, the challenges of the day won’t stand a chance, whether you are at work or @ Home.

 

Laura Vanderkam is the author of 168 Hours: You Have More Time Than You Think

Managing Your 168 Hours Step #2

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Step #2 @ Work

“If you love what you do, you will have more energy for the rest of your life, too” Laura Vanderkam. Real Estate is challenging and we don’t always love what we have to do, but we should because our lack of passion will eventually show up in the marketplace.

Here are 2 simple steps to help you do what you love and love what you do.

  1. Find work that matches your expertise and your strongest intrinsic motivations
  2. Find a work environment that helps you that will allow you to retain that intrinsic motivational focus, while supporting your exploration of new ideas.

The ultimate goal is to find work that is optimally challenging, where the work calls on your best skills and helps you develop new skills, but is not completely beyond your skill level.

“Happy people are more productive and successful than unhappy people” Laura Vanderkam.

“We can no more afford to spend major time on minor things than we can to spend minor time on major things,” Jim Rohn.

Managing Your 168 Hours Step #1

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I just finished reading the book 168 Hours: You Have More Time Than You Think, by Laura Vanderkam, and have never been this excited about reorganizing my schedule. I’m a great procrastinator, one of the best when no one is looking. Agents constantly tell me, “I don’t have time to do X, Y, or Z.” The truth is most people don’t think about how they spend their time. Once they actually do, and create a time log, they realize that a massive amount of their time is being spent on things that bring only a small amount of pleasure or accomplishment to their lives.

Step #1

Understand The Myth of the Time Crunch

  • You are in charge of your schedule, all of your time is precious.
  • “When you focus on what you do best, on what brings you the most satisfaction, there is plenty of space for everything” according to Vanderkam.
  • We don’t realize how much time we have until we know how much time we spend on things that don’t bring us any value or add to our family, careers, or personal life.

If you waste today, you will be given 24 new hours tomorrow, and the day after, and the day after, forever and ever. If you want more time, then you need to understand where it is being wasted.

“We can no more afford to spend major time on minor things than we can to spend minor time on major things,” Jim Rohn.