How the 10% Rule Impacts 3 Areas of Your Life

If you want to reach your 2018 goals, I recommend applying the 10% rule to three areas of your life: health, wealth, and relationships.

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There are three things that will be very important if you want to make this year a stronger year. When people think about real estate, they often don’t talk about the world of health, wealth, and relationships. I have a general rule that can help you improve your life in these three areas. It’s called the 10% rule. What does the 10% rule mean? Basically, you need to cut yourself some slack about 10% of the time. How does the 10% rule apply to health, wealth, and relationships? Let me break it down for you: 1. Health. Make sure that you are eating healthy 90% of the time. The remaining 10% of the time, go ahead and have that syrupy drink or other junk food. In order to perform at your highest level, you need energy. So, eat healthy 90% of the time, and 10% of the time, allow yourself to fudge a bit while living a life of health and energy. You have to have physical energy to be able to reach the highest level of every goal. Take care of your body and your mind, and you will be able to accomplish anything. People often set goals too low because they simply don’t have the energy to set them higher. We could accomplish even more with the 90/10 rule.

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In order to be productive at work, keep yourself in front of people.

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2. Wealth. When you’re at work, it’s natural to spend 10% of the time getting a coffee from the break room, hanging out by the water cooler, or talking to your friends. The other 90% of the time has to be productive. Make sure you do things to get you at the highest level of activity during those eight hours each day. By fully utilizing those eight hours, you are saving yourself from those 10- or 12-hour work days. In order to be productive, keep yourself in front of people. Focus on prospecting, attending appointments, lead follow up, and negotiating deals. You can go to lunch with people, but do it for networking purposes. Instead of goofing around, that hour can be used to further your business and reach your goals. 3. Relationships. After a full day of work, it’s normal to feel tired. Make sure you go home with 10% still in the tank. Your family, your friends, your partner, and even your pet deserve to spend time with you. I was completely unbalanced at the beginning of my career. I left before my kids woke up and went home before they went to bed. I was managing the team, the marketing, and hiring. I did 85 transactions personally that year. I was doing everything at work, but I was not the best dad or husband. When you’re at work and you feel like you’ve spent 90% of your energy, go home. Give your family that time and energy. In the end, they are who we’re doing this for. We are doing this to serve our family, our friends, and other people. When we produce enough, we can give back to others. I hope you find the 10% rule helpful in 2018. If you have any other questions about reaching your 2018 goals, just give me a call or send me an email. I would be happy to help you!

Protecting Your Mindset

Today I’d like to give you some advice about what things it will take for you to reach the highest levels of the real estate industry.

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Why is protecting your mindset and making sure that you have a daily routine so important for reaching the highest levels in this business?
There is a principle that comes from Tony Robbins that my team and I discuss frequently. It states that 80% of the real estate business is mindset and 20% is execution. After 10 years in the industry, I can tell you that this is true.
Even today, there are different problems and issues that occur that get me saying, “You’ve got to be kidding me!” When you encounter situations like that, you need to step out of that and into another role of getting production, results, and work done. The solution is all about your mindset.
I’m going to tell you two things that have really made a massive difference in my life that I would recommend you to do as part of your daily schedule.

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You can’t stand by the fire and ask it to give you heat if you haven’t thrown in the wood.

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The first is that energy is everything! Energy here means that you have the ability to get up, feel strong, want to get out there, hit the phones and reach people, knock on doors, and be actively and aggressively engaging in the market to produce higher-level results. You can’t stand by the fire and ask it to give you heat if you haven’t thrown in the wood. You have to put in the work. Get up early and work out so that your body is physically stronger than your peers and you have the energy necessary to power through the day.
The second is that you need to have a daily routine that involves protecting your mind. This can be reading 10 pages of a book, listening to a podcast, going to a meeting with the rest of your peers, or going through scripts or motivational items that will get you on the right track. If you master a daily ritual with an item like one of those, it will protect the rest of your day.
If you have any questions or need recommendations for books to read or podcasts to listen to, please reach out. We’d be happy to provide you with those resources to improve your life.

The Key to Approaching Commission Disputes

The standard 3% commission is just a little too much for some home sellers to handle at first. Here’s a fresh approach to the situation that will increase your odds of getting your standard commission.

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I recently received another question about commission structure from an agent that I felt I just had to address. This agent went on an appointment with a seller and couldn’t get the seller to budge from wanting to pay a 2% commision, which is much lower than the standard 3%. The problem was that this agent didn’t know how to attack the situation. Here’s what they should have done.
When you’re dealing with a seller who doesn’t want to pay full commission, you need to approach the situation differently. First, find out what their motivation is for selling. Then you need to find out what price they’re looking to get for the home.

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Show them you’re worth your commission.

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Instead of starting out with the question, “Will you pay a 3% commission?”, start by asking “What price are you looking to net on your sale?” After you have that number, here’s how the conversation should go with that seller:
“If I was able to net you the amount that you’re looking for, would you consider adding the 3% commission on top? You obviously want to net the most money possible, that’s why you only want to pay 2%. Do you have a plan to get that full price? I do, and if you let me assist you, I will give you a full-service experience while netting you the price you desire.”
I’m not saying this strategy works 100% of the time, but what I am saying is that switching up your approach by initially demonstrating value to your potential client is smart. And it does work. When I’m able to charge a 6% or 7% commission on a home, it’s because the homeowner knows and sees the amount of work and effort I’m putting in to ensure that we achieve our goals together.
If you have any questions for me about commission structures or anything else related to the business, give me a call or send me an email. I would love to hear from you.

Full Service vs. Limited Service: Which Is Better?

When it comes to real estate, there’s a huge difference between full-time and part-time professionals. Let me explain why.

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There will always be ongoing changes within the real estate market. The level of service provided in the industry today is dramatically different from how it was when I first entered the business. So, would you rather work with an agent who provides full or limited service? The answer seems obvious. When it comes to real estate, most everyone would prefer to work with someone who has the most knowledge and experience, and who can use those factors to provide you with the highest level of experience possible.

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Full-service agents and limited-service agents are worlds apart.

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As for me, I’ve truly committed myself to real estate as a career. I dedicate a lot of time and effort into what I do so that I can best serve my clients. Part-time agents simply can’t provide the same level of care and attention that full-time agents can. Full-service agents and limited-service agents are worlds apart. When you enter your career, you need to decide which category you fall in. One factor to consider is that full-service agents have the benefit of receiving full commission structures. Becoming a full-service agent will require a lot of planning, but the results of your effort will be well worth it. You will get higher client satisfaction rates, more referrals, and better reviews. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.