How to Simplify Success: The Fix-It or Fire-It Method
Chapter 20 from the book Less Blah Blah More Ah Ha – How social savvy real estate agents become trusted, preferred, referred and rewarded.
“Whatever is happening to YOU now, YOU either created it, YOU allow it or YOU promote it.” ~Unknown
Reread the above quote. It’s the naked truth and reality for 97% of what happens to us in our real estate careers. Success, challenges, and setbacks alike, we’re personally responsible.
Setting Things Right Is Simple
When we’re unhappy with the results we’re producing, we can take personal responsibility and reevaluate what, where, and how we do things, and who we’re doing them with. Then we can employ The Fix-It or Fire-It Method.
The Fix-It or Fire-It Method
Your Current Listing Inventory Is Not Selling? Fix-It or Fire-It
To position your listings to sell, there are only three things you can tweak:
1.) How attractively the property shows.
2.) The competitive pricing position.
3.) The marketing (advertising, broadcast, and promotion).
Evaluate these three factors, then fix or fire like so…
1. Fix how the property shows compared to its competition. Recommend appropriate interior and exterior refreshing, remerchandising, and restaging. If the sellers won’t help themselves, fire them.
2. Fix the competitive pricing position of your listing. Present a detailed, in-the-present, pricing market analysis. If the sellers are unable to take logical action and won’t help themselves, fire them and go get some new salable listings.
3. Fix the competiveness, persuasiveness, and effectiveness of your property promotion, marketing, and advertising. Review copywriting, broadcast, photo, and presentation quality. If you are unwilling, or unable to compete and deliver as promised, do yourself and your sellers a favor; release them and fire yourself.
Current Buyer Prospects Not Buying? Fix-It or Fire-It
Selling is very simple. When a qualified and motivated buyer finds a property that fits their needs, they buy it. Evaluate these three things, then fix or fire.
1. Re-qualify your prospects for urgency, motivation, and ability. If your buyer prospects can’t or don’t need to buy, fire them firmly and gently. Don’t cut your ties or burn your bridges; stay in touch and nurture the relationship. When and if their circumstances improve, you’ll be positioned to help them. Use the The Three-People Principle as your guide.
2. Re-examine what you think your prospects are looking for. Re-question and re-confirm your understanding of their desired amenities, benefits, location, and other important decision-making factors. If you’re unwilling to take the time to understand their needs and desires, fire yourself and refer them to a colleague.
3. If you believe your prospects are motivated and financially qualified and you feel you understand what they want–and you’ve shown it to them—and they still aren’t buying, uncover the unspoken barrier: resistance, fear, or obstacle. If you can’t figure it out and fix-it, fire yourself, and refer them to a trusted colleague.
Prospecting Activities Attract Phony-Balonies or the Sound of Crickets? Fix-It or Fire-It
1. Examine all your print and direct mail advertising. How much money are you spending? Is it paying for itself, plus a profit? If it’s not, fire-it and redirect your money.
2. Where are you advertising? How often? Who’s your target? What’s your message and is it focused and attractive? How many closed transactions has it generated in the last six months?
If it’s not profitable, fix something about it (the message, the medium, the frequency, the quality), then reevaluate in thirty days. If it’s still not attracting prospects, fire-it. Seriously, if it’s not profitable, STOP.
Is Your Leader Really a Loser? Fix-It or Fire-It
Assuming you are committed, dedicated, and motivated, does your leader provide you with the intellectual, emotional, technological support, and leadership required to thrive? If not, attempt to fix their shortcomings and talk to them about meeting your needs. If they are unwilling to adapt, fire them and partner with a better leader.
If you feel you’re working with a bona-fide leader but your success is sketchy, examine your commitment, motivation, strategy, and execution. Then fix your future by making the required changes in your behavior, strategy, action, and activity. If you’re unwilling to adapt, do your leader, yourself, and your occasional clients a favor: fire yourself.
Do Vendors Make You Look Magnificent and Send Referrals? Fix-It or Fire It
Recommending competent lenders, title companies, painters, plumbers, baby sitters, roofers, and service providers is what our clients expect us to do. If the vendors we recommend aren’t reliable, courteous, professional, and a source of return referral recommendations, talk to them about your service requirements and your expectation of reciprocal referral recommendations.
If they are unwilling or unable to perform, bang-bang. Next.
Are You Hugging-it-out with Friends or Slugging-it-out with Frenemies? Fix-It or Fire-It
To have friends, you must be a friend. If you are and they aren’t, talk to them about your how you two can fix your relationship. If they are unwilling to be a friend, fire them.
If your friends are Debbie Downers, gossipy backstabbers, or two-faced, fire them.
If you’re a David Downer, gossipy backstabber, or two-faced, fix yourself.
Hang and hug-it-out with positive, supportive, bright people. If you’re not, begin nurturing new positive and supportive relationships.
Our Shiny Future
As Oprah Winfrey is credited with saying, “We can’t become what we need to be by remaining what we are.” I’ve shared six areas where immediate action will yield immediate results. Your listings will sell faster, marketing dollars will work harder, you’ll leverage your time with qualified buyers and sellers, you’ll enjoy the benefits of competent leadership, and the warmth of true-blue friends will turn your life richer.
I guess the obvious question is, “When do we start?”
Thanks for reading. If you’d like to own the book you can CLICK HERE and you’ll be whisked to the Amazon.com book page.