Today’s Ask the Expert column features Arthur Darmanin, CEO of Sellstate Realty Systems Network, Inc.
Q: What do top producers do differently that makes them successful?
A: We all know the 80/20 rule: Twenty percent of agents earn 80 percent of the business. This raises a couple of questions. Why is there such a discrepancy? What makes these top producers different?
Over the years, I have managed hundreds of agents and have discovered that top producers really aren’t any different. Their gender, race or faith have nothing to do with their success. It’s not actually who they are, but rather what they do that separates them. However, when it comes to what they do, there are some important commonalities.
All top producers, without exception, come into this business with the mindset that this is a business and not another job. As such, they themselves are the biggest asset of their business. It’s critical to understand the importance of you, the agent, being the greatest asset of your business. You are the president. You are the CEO of your business.
Top producers invest a lot of money, time and effort in their education to become masters in their field. They attend seminars and pay for coaching from some of the top trainers in the industry.
It’s very common for top producers to continue to attend seminars and pay for coaching well after they’re established. They understand the importance of staying on top of their game.
Prospecting and Lead Generation
Top producers are disciplined in performing daily money-making tasks— in short, prospecting. There are myriad ways to prospect, including calling expired listings and FSBOs, farming, online marketing, etc.
One of the main reasons agents fail is lack of prospecting. Top producers are prospecting machines. They learn the skills and apply them.
Technology is a big part of our business, and top producers invest and acquire all the necessary technological tools such as websites, CRMs and drip campaigns.
They invest capital in marketing and lead generation. Many top producers reinvest 50 percent or more of their gross income into their business. If you think this is excessive, think in terms of your gross income being in the seven and eight digits. You will then appreciate how this makes sense.
How to Get There
If you’re a new agent, or you’ve been around for a while but have been unable to reach your goals, start by changing your mindset. Attend as many seminars as you can, and if your budget doesn’t allow you to hire trainers, invest in books and videos that can be purchased from these same trainers. Study hard and practice the scripts.
If you don’t master your skills, you’ll never become a top producer. There’s no sense spending thousands of dollars on lead generation if you don’t have the skills to convert those leads into sales.
In closing, top producers are the absolute best and most skillful agents. They’re disciplined, they prospect every day and they invest in their business.