Welcome to 2023! 

As we begin the new year, we can only speculate on what changes we will face. In the real estate industry, I believe that regardless of the market conditions, there will be plenty of opportunities to keep building your business.

This is what I know:  The market is shrinking! National Association of Realtors statistics show from November 2021 to November 2022 the year-over-year sales dropped by 28.4%. I say, “So what?! Let’s focus on the things we can control and we will prevail.” In New Castle County, Delaware, where I live, from October 2021 to October 2022, the market was off by 38%. I say, “So what?! Let’s focus on the things we can control and we will prevail.”

This is what I know:  People will still be selling and buying homes in 2023. The market is…the market. It does not determine your destiny. You do! 

This is what I know:  The market is never 100 percent predictable. We live in uncertainty. However, there are things that you can do to prepare yourself for any market, including a shrinking one, so you and your business can thrive. First of all, it is wise to know what is going on in the market, to study the numbers and not to sweep them under the doormat. Be aware of them and then go to work. This is no surprise to those of you in my coaching program. You know this! There is no excuse for not going to work; for not working on expanding your business. In fact, I know of many companies that started during times when the economy was distressed. General Electric, General Motors, IBM, Trader Joes, and Disney, all started during tough times…and are still around.   

This is what I know:  If you began in real estate sales in the last 5-10 years, you have enjoyed a great ride. Many egos were created with little effort in building a great business. The real test starts now and probably for the next several years. 

This is what I know: To win in this market, you must implement all of the things you already know. Get them out of your notebook! I strongly believe that all of the answers are within you! You must embrace the fundamentals in running a business, the fundamentals in sales, strengthening your mindset, as well as altering or embracing your philosophies - the way you think - and controlling the day, filling it with income-earning activities.  

If you are not willing to change, adapt, and invest time and money in yourself, this may be a problem. I am hearing people tell me that they want to increase their business by 20, 30, 50%…even 100%… in the current market. Again, let me repeat this:  If you are not willing to change, adapt, and invest time and money in yourself, this may be a problem.

Let’s talk about what you must do. What will set you apart from the rest? Here are some ideas to help you get started in 2023:

1. Master Lead Generation. We will always be in the lead generation business. Learn how to convert leads more efficiently. Be strong in your lead follow-up. Stop neglecting your database and connect with the people in it. Prospect every work day. It is about consistency. Study sales. Take ownership of lead generating for your business. It is your responsibility. Make sure you have several ways to generate leads, and do not depend only on one source.
2. Master Communication. If you choose sales as a career, you need to master the art of communication. We are in the people business. We are in the relationship business. Learn the skill of building rapport. Learn the skill of being more persuasive. Learn to connect with different personalities. 
3. Spend Your Time Wisely. So, what do you do with your time? I believe - and have witnessed - that we waste so much valuable time. Look at my new product, Managing Yourself. It will definitely help you with your time. 
4. Break Down Your Goals into 12-Week Segments. Treat each 12-week segment like it is a full year. Work every week like you are going on vacation that weekend. You know what happens when you get ready for a vacation - - - you simply get things done! Distractions are gone. Excuses are not found. You are focused. Why? Because it creates urgency. 
5. Develop a Powerful Morning Routine. This time is exclusively for working on yourself. That means do not check your email, voicemail, text messages or social media during that time. This will give you a great jump start for your day.  
6. Identify the Skills Needed. What skills do you need to improve? Work on them. Unfortunately, salespeople in real estate do not work on their skills enough. Identify the skill you want to sharpen. Study it, and put it into action. Not ten skills in a week; one skill every 12 weeks. Be excellent in it, and move on to the next one. 
7. Practice, Practice, Practice. Identify what you need to practice. Practice it! Three ways to practice:  by yourself, with a partner, and with actual potential clients. Don’t forget about that third one! Practice makes you better. Practice gives you confidence. Practice makes you prepared. Few salespeople take the time to practice selling. They practice their golf swing, but scripts…not so much! 
8. Associate with Like-Minded People. Hang out with growth-minded people. Are they challenging you? Join a mastermind group or start your own. Stay away from the nay-sayers. 
9. Lead with Revenue, Not Expenses. This will be difficult for some of you. It is a new world. Cut the fat and cut it quickly. If it doesn’t give you a return or value, remove it. Make sure you have a profit and loss statement, and make sure to review it monthly. 
10. Increase Your Accountability. Accountability equals growth. Don’t be scared of it! Turn up the intensity in your accountability. Stay accountable to the process, not the outcome. Find a strong accountability partner. You don’t have to ask them to hold you accountable for everything you do, just choose a few key activities.
11. Know Your Numbers. This is a fundamental of growth. Do you want to grow? Develop your own metrics. You do run a business. Trouble organizing your numbers? Look at the Interactive Business Plan, known as the IBP. It is simple and easy to use, and provides a way to track and organize all of your important numbers.
12. Focus on Winning the Day. Don’t worry about tomorrow. Focus on winning your day…today! Do your best, and then make sure to close out your day, reflect on your day, and prepare for your new next day. 

So, let me close by sharing a few items to STOP doing in 2023:

1. Stop adding more, and focus on less…and doing it well!
2. Stop procrastination. Don’t wait. Take action!
3. Stop the instant gratification mindset, and instead embrace delayed gratification! 

When do you start implementing these ideas? Today! 

If you have any questions on how to do this, call me. If you are looking for a coach, call me. If you are looking for group coaching, call me.

Keep Learning! Keep Implementing! And…Never Stop Growing! 

Let’s go to work!