Welcome to Coach's Corner where industry experts and real estate coaches share self-improvement tips and advice on how to achieve success in today's market.
Barb Betts is a sought-after keynote speaker, seasoned real estate expert, passionate educator, and the CEO of RECollective, a thriving boutique brokerage in Southern California. She shared with us her thoughts on the unpredictable nature of real estate, how to goal set if you’re just starting out, the power of relationships and when a REALTOR® should and shouldn’t hire a real estate coach.
This too shall pass.
Always go back to your “why.”
Remember what you love about this business.
Start with small goals and monitor progress.
Show up daily for your relationships and on social media.
In today’s market, we’re seeing higher mortgage rates and home prices along with low supply and demand and general economic insecurity. What advice do you have for REALTORS® who are discouraged by these challenging conditions?
This, too, shall pass. This market is challenging and different, and anyone who tells you otherwise, that they “have been here before,” — they haven’t. Well, at least not in the last 20 years! The lack of inventory we are facing is unprecedented. But with that said, after 20 years in the business, I know this, too, shall pass. No agent can control the market. You can’t control interest rates, and you can’t control the fact that homeowners don’t want to put their homes on the market right now. But what you CAN control is your activities and your attitude. If you focus on those two things and work really hard right now — harder than you ever have — everything will be okay.
Staying motivated can be difficult for anyone, especially when business is slow. What are some tips you can offer to help REALTORS® overcome a lack of motivation?
Go back to your “why.” With a strong enough “why,” you can endure anything! Why’d you get in this business? Go back to those reasons. You are going to have to dig deep right now. This business is not easy, and we all have to remember why we started and what we love about it.
How should someone approach goal setting if it’s their first time?
I like to start with small goals. I like to look at quarterly goals. Most people cannot think a year in advance, so much can change. I like to teach agents to set quarterly or monthly milestones that they can see and actually monitor progress on. It also allows you to pivot quickly when things are off track.
What are some daily practices you recommend REALTORS® take to level up their business?
Focus on relationships daily. Focusing on relationships will sustain you through any market. The problem is that working by referral does not get you instantaneous business. So, you have to start developing relationships with your database DAILY, NOW!
You must lead-generate every single day. If you did not lead-generate today, you are not moving the needle in your business.
Show up on social media daily. I’ve never seen a more powerful marketing vehicle in this industry that is more impactful and can reach more people than social media.
What advice do you have for REALTORS® who are having a difficult time leaving their comfort zone?
GET OVER IT! I know it sounds simple, but you have to get out of your own way if you want to succeed in this business.
Should every REALTOR® hire a coach?
I have had a professional coach my entire 20 years in business. I would never NOT do this business without one. But with that said, you have to be willing to get uncomfortable, be vulnerable and allow someone to hold you accountable. You have to be willing to show up and have the hard conversations or it will not be worth your time or money.
To learn more about Barb Betts and her public speaking and education work, visit https://barbbetts.com.