Selecting A Farm Area

Real estate is very territorial. Having a license to sell real estate in Alabama permits one to sell anywhere in the state but common sense tells us we can’t provide quality service from one end of the state to the other. A person can have license in multiple states but that doesn’t mean they can provide quality service from their home town. I live in an area that only a few miles separate Florida, Alabama and Mississippi. Some people hold a license in each of those states. You can’t sufficiently service a county, not even a city within a county.

Farming Works

I am referring to a territory that a sales person will work within the boundary. This is considered their farm. Let’s narrow the field and focus on real estate sales. Farming is an older and more complete term for prospecting for new clients to work with. A few years ago the term “Prospecting” was replaced with the term “Lead Generating.” These two terms don’t encompass near as much as “Farming.”

Real estate is very territorial. Having a license to sell real estate in Alabama permits one to sell anywhere in the state but common sense tells us we can’t provide quality service from one end of the state to the other. A person can have license in multiple states but that doesn’t mean they can provide quality service from their home town. I live in an area that only a few miles separate Florida, Alabama and Mississippi. Some people hold a license in each of those states. You can’t sufficiently service a county, not even a city within a county.

If a person really wants to be successful in selling real estate, they should select an area of a city, or a subdivision to be their territory. They are going to farm this territory by focusing all their efforts on this territory much like an agricultural farmer tends to his crops. When concentrating on a small area, one can make it a priority to learn everything about that particular area. [Read more…]

Qualifying Broker Responsibilities

Broker Supervising Sales Agent

Just exactly what are the responsibilities

of a qualifying broker? This is a difficult question to answer since we are limited to space. “Broker Responsibilities” is a more fitting title for a book, but I’ll attempt to share some of the major responsibilities. In most cases, the owner of a real estate agency also assumes the role of a qualifying broker. Common sense tells us the owner’s main concern is making decisions that will effectively grow their business and make it profitable. A smart business owner will hire someone to be the qualifying broker for agency because the daily activities for both the owner and the qualifying broker are enormous. Each position is a full time job within itself.

Have you ever known of

an agency owner that didn’t also list and sell real estate? [Read more…]

Real Estate Coaching

What are the benefits of Real Estate Coaching?

When one thinks of a coach, automatically sports come to mind. More specifically, their minds tend to recall their favorite collegiate sports team or maybe their favorite professional team. Every sports team has at least one coach, beginning with kindergarten and continuing into the professional ranks. The higher the levels in sports, the higher number of coaches are involved. In college and professional sports, each position played in a specific sport has its own specialized coach. This is especially true in professional sports. The most successful professional athletes hire a private coach to coach them outside their normal activities to keep them on track; to keep them focused on doing the things necessary to excel in their performance. Professional sports figures rank among the top money earners in the world. If they realize the importance of having a personal coach, it stands to reason that a professional business person also needs a personal coach. This makes sense, doesn’t it?

Real estate is the largest industry in America. Real estate is the most lucrative profession among all industries. The most productive real estate agents in America understand the benefits of having their own personal coach to help them reach higher levels of productivity. If the top producers need coaching, don’t the agents that are producing sales at all other levels need coaching as well. It makes sense to me.

Let me explain coaching benefits. Coaching is about helping agents build a successful business through support and accountability. Weekly coaching sessions provide personal support to keep you focused on doing the things that are productive, while accountability provides visualization of the things you allowed to hinder you from doing the things you had planned to do.

What can a coach do for you that you can’t do for yourself?  A lot! A coach allows you to see yourself through the eyes of the coach. Common sense is one of the best attributes a person can have, so let’s reason together for a moment. If you are getting dressed to have a professional photograph taken, before you pose for the camera, what is the last thing you want to do? Look in the mirror to make sure you look your best; Right? Looking into a mirror is the closest you can come to getting a preview of how the photograph will look before it has even been taken. The mirror provides views from various angles that are otherwise impossible. The mirror provides an overall view of the entire body, from head to toe; a view that you can’t see yourself.

A coach has a lot of similarities to the mirror. A coach will provide a pictorial image of your past weeks performance by drawing a comparisons of previous results in relation to your weekly and daily work plan. When lecturing to a group of students, I sometime use this example to illustrate how people can always do a little more than they thought they could do. Let me show you what I’m talking about. Whether you are sitting or standing, it makes no difference. Raise both hands in the air and reach as high as you can, and hold them there. Now see if you can reach just a little bit farther. You could, couldn’t you? It might not have been much higher, but it was a little bit higher. Now I told you to begin with to raise your hands as high as you could but you didn’t. Why not? I can tell you why you didn’t. You set your expectations too low the first time. This is the way we are with our business too. A personal coach will help you reach just a little higher. Then when you reset your goals to higher levels, the coach will help you reach just a little higher. The big question becomes how high is high enough? There are no limitations to the heights you can reach, as long as you are committed to excellence and remain focused on doing the things necessary to advance your career to the next level.

Having a personal coach is like having a third eye. Can you imagine how much more you could see if you had a third eye? Probably not, but if you had the third eye for just a little while, you would take all the money in the world to do without it.

For a consultation on the benefits of real estate coaching, contact James Anderson at the Alabama Real Estate Institute now to get started! Note: Coaching is not State specific – give me a call and lets discuss getting you or your Team on the fast track!

James Anderson
251-979-2530
E-mail James Anderson