The vast majority of our Champion Agent clients follow the 5-5-5 System. They use it to create consistency in order to establish and maintain momentum.
Real Estate is a momentum business
One of the challenges for non-champion Agents is to establish and maintain momentum. There is a tremendous amount of energy that is required to create momentum. For us to acquire a certain number of listings and a reasonable number of pending transactions, it requires consistency of resources and effort. Too often, when we get to that state of momentum, we cut the power. If you are in an airplane, it takes a large quantity of fuel and thrust to take off from the runway and achieve cruising altitude of 36,000 feet. You can feel the captain throttle back once you reach cruising altitude. I did say throttle back, not cut the power. If he cut the power, the plane would instantly dive back to the ground.
Too often, Agents get to cruising altitude, and they cut the power of their prospecting and lead follow-up. They could be tired because it takes energy to get a listing inventory. They could be focusing on servicing their clients. The danger with their strategy is they lose momentum. Most Agents' income goes through up and down cycles at least four times a year. The up and down cycles are caused by their up and down cycles of momentum of prospecting and lead follow-up.
If you look at your income swings, you can trace them back to ninety days earlier when you switched away from prospecting and shifted to lead follow-up. You might have even shifted your time almost exclusively to serving listings, buyers, and pending transactions. Prospecting and lead follow-up create production supporting activities. If you engage in prospecting and lead follow-up, you will create opportunities to serve people. Serving people will take more of your time, but you have to avoid letting it take up all of your time.
A Champion does prospecting and lead follow-up even when faced with servicing a lot of clients. Operating with an on/off approach to prospecting and lead follow-up leads to inconsistency of income, burnout, and frustration in your business. Anyone can prospect when they are broke, have no leads, and have plenty of time. It doesn't take a particular skill or set of disciplines to do that. They are prospecting out of desperation. A Champion prospects even when they have business, prospects, clients and transactions to close.
About the Author: Dirk Zeller is a sought out speaker, celebrated author and CEO of Real Estate Champions. His company trains more than 350,000 Agents worldwide each year through live events, online training, self-study programs, and newsletters. The Real Estate community has embraced and praised his six best-selling books; Your First Year in Real Estate, Success as a Real Estate Agent for Dummies®, The Champion Real Estate Agent, The Champion Real Estate Team, Telephone Sales for Dummies®, Successful Time Management for Dummies®, and over 300 articles in print.
Real Estate Champions is a premier coaching company. Training covers a wide spectrum from new agents, to seasoned, as well as those interested in real estate marketing or real estate investing.