Short Sale – Big Thinker or Micro-Manager: Which Are You?

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Elizabeth Weintraub wrote a response to my blog post “Thanks, Melissa. How Much Do I Owe You?” and that comment has prompted this blog post which, plain and simple, is about thinking BIG.

To make money in real estate you need to think BIG. You can preach all that you like about how you love helping people, but if you consider selling real estate your career, than you need to think BIG.

BIG means create a big pipeline of prospects, and a big marketing and business plan. In coaching agents, I have seen so many agents focus tons and tons of their time on the problems plaguing one single transaction that they do not spend enough time building their pipeline. I’ve seen short sale listing agents spend 10, 20, 30 hours waiting on hold at the banks to get their short sales approved. How many short sale listings could that very same agent have taken while paying someone else to wait on hold for that very same 10, 20, 30 hours? You see, it is all about thinking BIG, making a plan and sticking to it.

Put simply, if I have 80 deals in my pipeline, and my business is cut 50% by a new law or some new lending regulations, I still have 40 deals in my pipeline. I’m a little bit disappointed because I just lost 40 deals. Right? But if I have 2 deals in my pipeline and I lose 50% of those 2 deals, I’m really going to have a hard time making ends meet!

You know all of those great lead generation and programs that are advertised in the local agent magazines?  Craig Proctor, Brian Buffini, Roger Butcher, Tom Ferry—all of those programs for growing your business are very effective. The only time that they are ineffective is when the individual is not consistent in putting the program into action.

So next time you find yourself fixating over the minute details of a transaction, step away and ask yourself if this is the best use of your time. Are you thinking big or thinking small? Perhaps you could hire an assistant or outsource the transaction coordinating or short sale negotiations.

If someone told me that I would get $2000 per day everyday of the week just as long as I agreed to give away half of it, I’d be on board in a minute. If you want to see your business increase, than you need to think big—you need to be willing to give away that $1000 and focus on collecting the next two grand!

 

 

Interested in outsourcing your short sale negotiations, feel free to contact my office!

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