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Monday, July 28, 2014

Getting Things Done Again

We’ve written about David Allen’s book Getting Things Done and have encouraged folks to grab a copy to see how that system can be a great help in managing not our time but our activities and our distractions. Oh, those distractions! 

Allen’s primary point is that we get things done best when we can focus on the task at hand, free from those distractions. Rather obvious, of course. But he goes on to clarify that by distractions, he doesn’t simply mean a ringing phone or a barking client, but rather all those nagging little voices in our minds, interrupting and reminding us—constantly, it seems—not to forget that we have to run a CMA for that presentation tomorrow or call the brick mason to ask about that chimney repair by next Tuesday or, yes, to take the dog to the vet on Saturday and get to little Sally’s soccer match by 6. 

In an earlier Playbook, we noted that Allen’s key is to make sure we have a fail-safe “bucket” to store all our obligations and actions and information—both for our business and our personal lives—and we noted how Evernote can be the perfect bucket. 

But how do you decide what goes in the bucket—and where?

Allen’s GTD model has a great flowchart for dealing with what he accurately calls “stuff,” ie, all the things we’re bombarded with daily, hourly, even by the minute. Basically he suggests that we think of ourselves as an In Box and go through the following process as we receive “stuff:”

The First question: What is it? That sounds a bit trite, but he really means that we need to quickly grasp “what” is asking for our attention rather than doing what we so often do: simply putting something aside and thinking we’ll deal with it later! Allen makes the point that by not taking a few more seconds and determining the real “what,” we’ve just put that item back on top of the pile of things that will eventually fall into our In Box again . . . and again, wasting more and more of our time.

The Second Question: Is it Actionable? Wow, is this “stuff” something we need to do anything about? There can only be two answers here, YES or NO!  If NO, then ideally it should go right into the trash! But wait, what if it’s something we don’t need to take action on right now, but we might want to use it or do something about later?  No problem, as Allen suggests we create compartments in our bucket where we can save such items for future reference.  In the Evernote age, we can create a notebook or two for “Reference” items and maybe one for “Reading” where we can store that interesting article we noticed in Inman News but don’t have time to read at the moment it drops into our “In Box.”

If the answer is YES, it IS Actionable, we have a couple more considerations. One of Allen’s best moves is his suggestion that, if a “stuff” is Actionable AND it can be done in less than two minutes, DO IT RIGHT NOW! Don’t put it back on the pile of things that will have to again fall into your In Box!

If it will take more than two minutes, Allen recommends we need to make one more immediate decision: If we’re the best person to deal with the “stuff,” then we need to “Defer” it and add it to our project list of “Next Actions” or put it on our calendar if it’s a specific date. If we’re not the best person to deal with that particular “stuff,” we need to delegate it to someone else: a staff member, an assistant, and lender partner, a contractor, etc. and we need to make that delegation right away . . . if it can be delegated in less than two minutes!

There’s a lot more detail and some great examples in the book, of course, but the GTD system can really work and make your days and hours far more productive and far less stressful.  I bet you can download the book from Amazon to your Kindle in less than two minutes . . .

David M. Hassler

Director of Coaching

Friday, July 18, 2014

A Nice Helping of Great Stats, Please!

A recent Inman News article caught my eye and gave us some great nationwide real estate statistics we can all use in our business. Inman quoted the stats from the website Placester.com and I hope you find them of helpful as you position yourself as a trusted source of knowledge for your clients.

·      The role of the real estate market in the United States’ economy:
o   There are roughly 133,026,000 housing units in the country with a combined value of $25.7 trillion.
o   These housing units are worth more than the combined GDP of the entire European Union (at $18.1 trillion).
o   In 2013, there were 5.09 million home sales, up 9.1% from 2012.
o   Home prices nationwide are expected to increase by 4% on average in 2014.
o   Mortgage rates remain low: mortgage payments currently consume 15.6% of monthly family income, down from 23.5% in 2006.
·      The real estate industry at a glance:
o   The industry employs over 2 million people, including more than 430,000 agents and brokers, or about 1.4% of the working population.
o   4 out of 5 real estate brokerage firms have only a single office.
o   84% of real estate brokerage firms are independent, non franchised companies, 13% are independent franchises, and 3% are corporate subsidiaries.  (NOTE, this stat reflects the number of companies, not the number of agents!)
·      The housing supply:
o   1.86 million homes were available at the beginning of 2014.
o   Housing is currently at about a five month supply nationwide.
o   New construction starts are projected to increase by 25% in 2014.
·      Real Estate search:
o   92% of people now use the internet in their home search.
o   Between 2009 and 2013, real estate related Google searches increased by 253%
o   69% of home shoppers who take action on a real estate website begin by typing in a local term into a search engine.
o   On weekends, 59% of page views on real estate websites come from smartphones and tablets.


So dig in and chew up some of these stats so you can make use of them with your clients and prospects!

David M. Hassler

Director of Coaching

Friday, July 11, 2014

It's Third Quarter, Do You Know Where Your Stats Are?

Yesterday, I read a piece in the Inman News talking about our industry’s frequent overuse in our marketing of several worn out phrases (and they weren’t talking about that old The Mamas & The Papas song!). For example, they chided us for touting a house as “Priced to Sell” since that’s really only telling something and the price alone should show us the price is aggressive!  Another phrase they noted was agents billing themselves as a “Top Agent.”  The writer said he wondered if there were any “bottom” agents anymore.  Again, that phrase is simply telling us something instead of showing it!  So, let’s get to work and see what we can show!

With that in mind, now that most folks have exhausted their store of fireworks, it’s time to recognize that we’ve already finished the first half of our business year!  The market has been pretty good so far and we even heard the term “seller’s market” tossed around now and then, and some weeks we got to enjoy that old fashioned stress from being busy with more activity than we can easily handle.  It’s great to get caught up in that transaction rush!

But the end of the second quarter is also a great time to make sure we take a look at our stats to see how we’re doing compared with our business plan, and to dig in and see what we can show our clients and prospects! 

It really pays to analyze the details of not only our sales volume and commission dollars, including listings sold and buyers closed, but to dig deeper into the numbers, including the percentage of your listings sold, price reductions achieved, your average days on the market, averages ratio of sale to list price, percent of listings won when competing, how your stats compare versus the competition, and any patterns to be seen.  And thats just for starters!  Where did you succeed, and where can you improve?  Digging deep and understanding where youve been so far this year—and why—is crucial to keeping you on your plan so you can achieve your strongest year ever!  Your coaches are here to help you through the process of mastering your stats and congratulating you on your success and aiding in planning any course corrections.

David M. Hassler

Director of Coaching