Happy Thanksgiving!
Happy Thanksgiving! Regardless of what you may be struggling with, take time to write down at least 10-20 things that are working normally in your life. It can be something as simple as the water and the electricity is on, you have a roof over your head, or you’re not sick. We often take for granted the simple things in life until we don’t have them. Now is a great time of year to have gratitude for what you do have.
It’s also a great time to share with those who have less than you do. Over the next week, go through your closet. Do you have an old, but functional mobile device that you can have wiped and give to charity? How about a bike, a car, sports equipment, TVs, or other appliances you’re no longer using? How about clothes that don’t fit or that you never wear? If so, drop them off at your local charity or call from one of the trucks who will pick them up at your home.
Finally, Byron and I plus our team here at RealEstateCoach.com want to thank you for your continued readership of this blog. It’s an honor to be with you each week and we deeply appreciate your support!
Track Your Progress Toward Your Goals
How many times have you written out your production goals for the next year, but didn’t reach them? If this is true for you, the three best practices from the most successful businesspeople in the word may hold the clue.
A Harvard University study of extremely successful people showed almost all of them did these three things: 
- They had written goals.
- They had a written plan to achieve those goals
- This is the most important part: they tracked their progress towards those goals each week.
If you’re ready to start producing more right now and throughout 2023, write down your goals, create a game plan for achieving them, and then track your progress in achieving those goals at least once a week.
Words to Never Use When Negotiating
If someone were to ask you, do you ever call your clients or someone else’s clients names, most agents would say, “I would never do that!”
Nevertheless, how many times have you heard another agent describe a buyer or seller as being “greedy,” “a bottom feeder,” or a “low baller?” 
If you have ever used any of these words when negotiating, you are probably creating a serious roadblock that could result in losing the deal. So, what should you do instead?
First, avoid using these terms. Instead, remove your judgment by simply stating:
My buyers have elected to make an offer substantially under the asking price.
There’s no need to justify or explain. Be sure to follow up by also saying,
About 50 percent of the time, we can put these deals together. Let’s keep the negotiation going to see if this is part of that 50 percent that will ultimately close.
Three Criteria Every Buyer Should Meet
As we move into a slowing market, the number of buyers searching for homes is dwindling. As a result, it may be tempting to work with buyers you would have never considered working with over the last few years. Nevertheless, the real estate basics never go out of style, regardless of what the market does. 
Now it’s more important than ever that you carefully screen your buyers and then set them up to win on the house they ultimately decide to buy. Consequently, be sure each of your buyers meets the following “must haves” before you spend any of your valuable time trying to locate property for them:
- They must have a written pre-approval letter, or even better, a fully underwritten pre-approval (i.e., all that is required to close the loan is the appraisal and title work).
- They must be willing to work with you exclusively.
- They must also have the desire, need, and ability to purchase in the next 30-90 days.
If they don’t meet each of these criteria, there’s a good chance they’re not serious about buying. Don’t waste your time!
How to Still Keep Your Income Strong in a Slowing Market
As we move into what is increasingly looking like a major downturn in the market, here are three critical steps to take to keep your income strong, even as there are fewer transactions.
To succeed in a slowing market, focus on the prospecting activities that are creating the best results. Failure to track where your leads originate or to follow up on every lead generated is a costly mistake. To identify what is
working best in your business, go through every transaction you have closed this year and write down what prospecting activity generated that lead. Next, spend at least 80 percent of your time engaging in the top two or three prospecting behaviors that resulted in closed transactions.
In a market downturn like the one we’re currently facing, it’s critical to double down on prospecting your sphere and past client database. Top agents typically generate 50-60 percent of their business through referrals from their past clients and sphere. Using social media, text, or some other type of communication, contact five of your contacts every day of the month (that’s your top 150 contacts). Also, make sure you see them face-to-face at least quarterly.
Our “new normal” is a back-to-basics market. Focus on lead generation activities such as open house, door knocking, or holding client appreciation events that put you in face-to-face contact with potential new clients.