Give Yourself a Raise
After this tip of the day, you will learn how you can give yourself a well-deserved raise!
This topic is so awesome and I wish that everyone could listen to this and implement this because I'll never forget my very first manager, Barbara, was really instrumental in helping me understand that I could raise my average sale price and sell the same number of units and actually make more money.
And in the beginning, you take every listing, you take every sale, you kind of just are flying around, taking whatever we can get.
That's just how it goes. And it's at a certain point, you're running around ragged. And I think I got to the point where I wanted to be where the 50-pound salmon was and catch 50-pound salmon.
And so it was very hard to say, “Well, I'm going to break into the 500,000, I'm going to break into 350 or whatever.” But with a very strategic plan, you can do this. I did it. I went from 175 to 280 to 350. And I was selling pretty much the same number of units and making exponentially way more money.
And so I think what you have to do is say to yourself, “Okay, where am I spending my time?”.
And, if I could do this business and I could do it very proactively, how would I spend my time? And where would I fish? Where would I go to find those 50-pound salmon?” And part of that is, stop reacting to everything. Get into a mode where you're proactive, you're making it happen instead of just dealing with what's coming at you and dealing with that, right? If something is out of your area, refer it. You don't have to go 45 minutes away when this is not something at the price point that you really want to focus on. It's too much time, it's taking away from other business that you could be doing.
I have this conversation all the time with agents and then boom, they're in a 450 price point, just like that, it's awesome.
So what you need to do is give yourself a raise and focus those activities very proactively where you can, micro firm, for example. We have an entire course on this. Agents in our coaching have made over $100,000 in five months using the micro firming plan. I mean, this is a strategy that works.
It also helps you, the micro firming plan helps you go after a price point that you want, right? What is the highest turnover neighborhood at the highest price point? Not necessarily you didn't hear me say what is the highest neighborhood? Because that might not be turning over. Giving yourself a raise means I value myself and my time and I'm not going after rentals. I'm not going after, these one-off sales with investors, for example, okay?
Now, if you're making four or five grand per investment sale, great.
I'm talking about the ones where you're writing 15 offers and you're going to make $1,000, okay? That's not a good return on your investment of time. So giving yourself a raise is all about really focusing on, where do I want to catch 50-pound salmon? And do I position myself in those neighborhoods through micro firming, through open houses, through calling your sphere, for example?
It just takes one sale to start the ball rolling for you to give yourself a raise and make two or three times per average commission earned, three times that by getting one sale, by going after it.
And again, this requires having a take-charge attitude and being proactive and making it happen instead of waiting for it to happen.
So I can't really go any further except to tell you that when you do this, you will start selling more at the price point that you want and you will have done it on purpose as I did.
I actually intentionally went after the 300, 350 price point and I did way more business, I made way more money, okay?
And at a certain point, you're like, “This is unbelievable.” And you can make it happen for yourself. You just have to be proactive and you have to follow what we're telling you to do here?
You can get after it, you can go after the higher price point, you have to be incredibly focused and intentional. Those are the two things that will help you. So let's give you a raise. Let's make sure that we are intentional like always, on purpose like always.
And when you say, “I'm going to go after that.” You do it, okay?
If you're a part of our coaching program, you're going to jump into the courses that talk about how to increase your listings and increase your average sale price and your average listing, which you'll want to do.
If you're not part of our coaching, I want you to go after a neighborhood where you can get one or two sales and start making it happen. You can start marketing, you can start calling, you can promote your new listing in a neighborhood on purpose, right? Through micro firming and going after the neighbors.
I don't know why people don't like nosy neighbors.
I love them. I'm going to do a whole podcast on it. What I can tell you is that one listing, one sale in the right neighborhood will start this ball rolling, and you can increase on purpose your average sale price. I can't wait to hear your success stories and make sure you text me, message me, send me a direct message. I read them all and I am so excited for you to launch, give yourself a raise.
It's a huge, huge benefit. And we actually have a course on it in our academy. I think it is a game changer and it will change your life as well.
So check back with me, let me know how it goes and go out there, make it happen and have a great listing and sales week.
I'll see you next time.
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Sherri is CEO and founder of Sherri Johnson Coaching & Consulting. With 25 years of experience in real estate as an agent, broker, and executive, Sherri now offers her proven strategies through coaching, consulting and keynote speaking services nationwide. She is a national speaker for the Homes.com Secrets of Top Selling Agents tour and is the Official Real Estate Coach for McKissock Learning and Real Estate Express. She is also a preferred national coach for multiple Top-10 national real estate brokers, and has been named a RISMedia Real Estate Newsmaker in 2020 and 2021 as an Industry Influencer and Thought Leader. Learn more about Sherri by visiting https://www.SherriJohnson.com/ Like us on Facebook https://www.facebook.com/sherrijohnsonconsulting Follow us on Instagram https://www.Instagram.com/_SherriJohnson
