In 1985 Nicholas Barzon, a Century 21 Agent in Jackson Heights, New York was celebrated as the first Agent of a National Franchise to earn personal income of a million dollars.
It was many years before another Agent hit that mark.
Now, there are hundreds of Agents earning a seven figure personal income in cities all across the United States and Canada.
Every one of these prosperous Agents operates their business under a new paradigm.
The old paradigm of prospecting for hours a day, focusing on listings and letting the buyers work with other Agents is over.
The mentality of make service a low priority, forget marketing, sell them and forget them is doomed to become extinct, thank goodness.
The new paradigm is what I call the "Whole Business" approach and is the new rule of the day.
The "Whole Business" approach is operating your business with attention to all ten systems required of every successful Real Estate career.
The ten "Keys to the Business of Your Dreams.
" It is not necessary to perfect all ten systems at once to sell a lot of Real Estate.
In fact, one of the keys to your success is recognizing which system is your highest priority.
There are Five Primary Systems, Two High Level, and Two Personal Systems and One Foundational System.
I'll share them with you in that order.
The first is "Planning, the Key to your Peace of Mind.
" There are many ways to plan.
There are two important parts of planning that should be tackled first.
The first is choosing goals that motivate you.
We actually call them "Goals That Motivate.
" The second is to find the best measures to monitor your results against those goals on a weekly and monthly basis.
These are the first things we do with our coaching clients.
The second primary system "Lead Management is the Key to Reaching Your Goals.
" Once you know your goals and how many clients you need to reach them, you focus on the ways to generate leads, your skills at turning those leads into loyal clients and your systems for contacting the leads you generate, then staying in touch.
In other words, you focus on generating more business and more importantly, you stop losing so much of the business that already comes your way.
The third system "Marketing and Networking is the Key to Your Long Term Success.
" Getting marketing right continually elevates your production.
Getting it wrong squanders a lot of your money.
Getting it right means understanding who are your best markets, what message you are sending, and the best media to send it.
With the right planning tools it is easy to measure the return on investment of your marketing expenditures.
We have found some Agents build high level, high-powered businesses with networking.
We coach others with equally successful businesses that network far less and produce high level results with marketing alone.
The fourth System "Service is the Key to Your Client's Happiness.
We say and get universal agreement that, "There is more business in good service than there is in most prospecting.
" We teach the traditional definition of service, "A standard met or exceeded.
" Setting service standards requires checklists and/or whiteboards, regular communication and your commitment to Integrity.
That is, keeping your word, fulfill your service promises including expressed and implied promises.
We recommend that our coaching clients set aside an hour per week to contact all Sellers and Pendings before they have a chance to call you with that "emergency.
" The fifth and last of the Primary Systems "Presentations and Negotiating are the Keys to Your Confidence.
" Great presentations require attention to preparation, communication skills, and plain old practice and experience.
There are basic presentations to sellers and buyers.
Then there are subtle presentations when you show property, and write offers.
Finally, there are advanced presentations for price reductions and the myriad negotiations in every transaction.
Every Agent who wishes to achieve high levels of production must work on all of these Systems and Keys.
That is the way to build the business of your dreams.
The challenge is choosing which system to work on next and knowing when to move on to the next.
To be highly effective every company training curriculum must build into their programs each of these Systems and the guidance to recognize when you are ready to move on to the next.
The sixth system "Assistants is the Key to a Life You Love.
" I believe most Agents came into the business with a dream for high income and personal freedom.
Both of those lofty ambitions are possible, only with help.
Those Agents who reach high levels of income struggle with personal freedom when they do everything themselves.
And vice versa, those Agents who focus on personal freedom struggle with high production.
The other high level system "Technology is the Key to Your Efficiency".
This is easier than you may think if you follow a simple rule.
Your results lead your technology decisions.
Every smart technology choice is driven by whether or not it contributes to your results.
Hardware, software, your Web presence, and Web marketing, can be mind boggling and costly.
How does your next choice add to the productivity and efficiency? That question first, is your best guide.
Our technology coaches have researched many web companies and other services that solicit Realtors on a daily basis and can provide guidance on these decisions.
The next two systems are personal.
You can build a successful business without them.
The question is can you enjoy that business and your life without them? The eighth system "Quality of Life is the Key to the Happiness of Your Loved Ones.
" A successful Real Estate career has some odd challenges, like learning to take a day off, take a long weekend, and learning to spend quality time with those you love.
In your business these must be addressed as systems to perfect or they slip away.
Sadly, as they slip away so does your quality of life and your relationships with those you love.
The ninth system "Personal Finances is The Key to Your Wealth.
" This too encompasses unique challenges for a Real Estate Agent.
Managing finances on a strictly commission income is one challenge.
The psychological challenges of acquiring wealth are often surprising.
So we add this to the Systems that require your attention to achieve the Business of Your Dreams.
Finally the last system which is not so much a system but an attitude is "Self Belief, Self Affirmation and Self Esteem" which without this system none of the above can work with very much satisfaction.
There is a paradigm shift in building a successful Real Estate business and career.
The "Whole Business Approach" defines that shift.