As we approach the end of the year, many real estate teams will be getting together and mapping out their 2021 roadmap; it’s ‘planning season’! In addition to 2021 business planning, let’s go figure out how we can get a few more deals closed before the end of the year!
There are two kinds of real estate agents that appear during the fall season: ones that are going to go out and push hard over the next 60 days and ones that step back and take a break. While some agents are stepping back, our teams are ramping up activities and taking advantage of the next two months.
Of course, we understand that what we do in Q4 will have a direct impact on Q1 of the following year, as some listings that we take before the end of the year will close in Q1. However, right now our teams have been focusing on what we can do today that can actually have an impact on THIS year – how do we close more deals IN 2020?!
Let me explain…
So right now, we have 60 days left in the year. If we are breaking this down, we have 30 days to lead generate and take listings (both buyers and sellers), and we have 30 days to close transactions, assuming that the market remains where it is and a great, well-priced listing or the right buyer goes under contract in the next couple of days.
So how do we ramp up this lead generation over the next 30 days? Let’s break this down into three different categories:
- Focus on activities and ratchet them up
- Create a scoreboard that creates transparency, awareness, and competition
- Create a contest inside of your organization to motivate agents to participate
For my team, we are running a 10-day plan, or rather a ‘blitz’, for both new and seasoned agents. This 10-day plan is fairly simple. It includes an insane amount of lead generation activity and is laid out for them in a step-by-step process. Here is an example of what two of the days look like:
Monday – Phone Prospecting 9am-12pm (minimum 300 dials); 1pm-1:30pm Training; 1:30pm-3:30pm SOI Focus (Draft & Mail Introduction Letter, “Announcement” Calls to VIPs); 3:30pm-4:30pm Phone Prospecting Power Hour
Tuesday – Phone Prospecting 9am-12pm (minimum 300 dials); 1pm-1:30pm Training; 1:30pm-3:30pm SOI Focus (Finish “Announcement” Calls to VIPs, Video Texts to All); 3:30pm-4:30pm Phone Prospecting Power Hour
This is very activity driven. Most everything in my 10-day plan is driven by lead measures – we are not focusing on end results, we are focusing on the activities that will lead to the results. It is a pure numbers game. Our agents are working through the numbers, increasing urgency, and looking for ‘HOT’ leads! It is important to note that during this blitz, the agents are not focusing at all on ‘nurtures’ or ‘watches’.
For any agents reading this, my advice to you: do not complicate it! We are playing a contact sport; get on the phone and just start dialing. Go harder than you have gone all year and watch what happens in your November and December!
keep a Scoreboard
Typically a team or solo agent is going to close 10% of their annual production in the 1st quarter. Now in Q2, we see about 35% of annual production close. In Q3, we also see about 35% of annual production close. This is where some agents will stop pushing and stop focusing on their lead measures and day to day activities. But be careful! This is where it can get dangerous for these agents who slow down, because, if you do that math, we technically still have 20% of production to close in Q4.
My team understands that to hit these Q4 numbers, we have to hit our activities 100%. If we are ramping up our efforts and we want full team buy-in, competition, and peer accountability, then we have to be tracking it — we have to scoreboard it!
What would you have to do right now, lead generation-wise, to make certain that you close 5 more deals in the next 30 or 60 days? Map out exactly what this looks like. What you will find is that the planning and new projects you want to take on will become secondary.
Create Some Competition
Another great way to ramp up Q4 production and activities, is to create some healthy team competition. The goal is not that your agents compete against one another, but rather my goal is to create more activity as a team.
First, you need to come up with the goal for your team! Do you want to focus on contacts made, listings taken, or something else? For me personally, I like to use appointments as the goal for the contest.
Next, I will set a goal with my team and we will decide how many appointments we want to ‘hold’ within the month. For example, we set 100 appointments as our goal, then we display a ‘thermometer’ in the office to track progress. We will work hard until the thermometer is completely filled in and once we reach the goal there will be some sort of reward for the team. This will create more focus around appointments held, which we know will eventually lead to listings taken.
This thermometer serves as a visual representation of the goal and brings awareness to where the team currently stands to where we know we want to go.
No matter who you are, how much production you do, or what market you are in, any agent would love to close five more deals in the next 60 days! Follow these steps, work harder than you have all year, and watch your 2020 close out at an all time high!