FollowI attended a class put on by Rick Deluca last week up in Port Ludlow WA. He is what I would consider a classic real estate pro. The basics never get old and I find his approach very refreshing in this age of glitz and gadgets.
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The 20 Biggest Mistakes
Brokers make as they build their business.
My Notes from Rick Deluca class June 1, 2011
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1) Accountability:
    Be accountable to someone
    Broker
    Coach
    Partner
    Group
2) Focusing on a 12 month plan:
Who can see that far into the future, instead focus on your activates for the next 12 weeks
    Block out personal time
    Block out educational time
    Write it down and review it each day
3) They don’t treat the profession of real estate as a “real jobâ€.
    Have a schedule
    Have systems
    Be consistent
4) Being a student of the industry:
    Know the market
    Know your own numbers
    Knowledge breads confidence
(Rick has a good list of numbers you should know)
5) If you don’t act like an expert you will not be perceived to be the expert:
    Do local market studies to know the area
    Be prepared to answer the questions
    (See number 4 above)
6) Have an unrealistic expectation that clients will call you:
    You need to stay in front of them consistently
    Use all types of marketing; in person, phone, mail, e-mail, hand written note
    Everything comes down to TRUST…how do you demonstrate TRUST…through
    your Character and your Competence.
    Character goes to personal activities
    Competence goes to professional activities
7) Be influenced by negativity:
    Be careful where you get your news
    You can’t control most of it anyway
    Just turn the news off
    Don’t listen to people who are negative…it rubs off
    Often others who are most willing to share….shouldn’t, they have nothing   Â
     better to do.
8) Spend too much time reinventing the wheel:
    Copy the most successful people around you
    Search for it before you design or build it
    Ask your broker..he/she probably has something you can use already
9) Treat everyone in your data base as equal…..they are NOT:
    Look at data base like a target
         Bulls eye = They enjoy you and your success
          1st ring = Would refer you to others
          2nd ring = Might refer you to others
          3rd ring = Probably should not be in your data base
    Know who your “Bulls eye†people are and spend most of your time and
    attention on them
10) Are not consistent with ongoing contact:
    Only 11% of customers later use the same agent again even though 88% said
     they would when asked after their transaction closed.
     Of the customers who did not use the same agent again 65% said it was
     because of a perception of …….indifference.
     Send out an annual thank you letter
     If you have not been in contact send a mea culpa letter.
     Always show evidence of success
11) Don’t regularly update their presentations:
    Market time vs. Selling price
    Remodel vs. Sell
    Keep it neat and professional
    The higher the quality of the physical package the higher the perceived value of
     the information and the information provider (that’s you)
12) Failure to fulfill promises:
    Provide a sellers activity report every 2 weeks
    Call day after closing
13) Be willing to be the boss:
    Hold yourself accountable, you are the boss of you
    7-10% of income goes back into your business
    3 times a week stay an extra 15 mins and ask yourself “How could I have
    increased my productivity today?â€
14) Have a business plan:
    Keep it simple
    Bulleted points on 1 page
    Daily habits/routine that will lead to your success
15) Not spending enough time constantly generating leads:
    30-45 mins. a day on lead generating activities
    Create new habits at http://www.habitforge.com
16) Not using systems:
    Everything you do more than once should have a checklist or system
    A system is a process that can be replicated, duplicated, anyone can do it and
    you can hand it off. A system is a written process.
17) Most agents don’t stretch themselves:
    Yes it can be uncomfortable, You can’t grow when you are trapped in your
    comfort zone
    Hold yourself to a daily action plan
    Must do
    Should do
    Would like to do
18) Pricing home correctly:
    Know the market
    You set the parameters you are comfortable with as a professional
    Use fhfa.gov for good information
    Housingpredictor.com
19) Social marketing:
    Some spend too much time on this one method of marketing
    Do it professionally
    Keep in mind you are doing this for their information…not your ego
20) Fail to embrace technology:
    Don’t hide behind it
    Use it to duplicate you…you in many places
    Youtube.com
    Eyejot.com
    We are in the wave of video….get with it too. Great for testimonials
Rick Deluca resources:
http://www.realtor.org
http://www.realestateideaclub.com