Dru Lee\’s Blog

At one time or another during a person™s life, most people will attend a seminar or read a book that discusses the principle of success. Many people debate the need to set goals and ironically the debate normally is began by the person hoping to avoid goal setting. Life most patterns of behavior, when a person has an opinion on a subject they immediately look for supporters of that opinion and justification/validation on the subject. Today™s subject or debate stems from whether or not a study was ever conducted from Harvard business school about 100 people starting at age 25 and tracking their success until they reached 65. When I began researching this subject, I started on success and the need to set goals. I could go as far back to when civilization began and I decided to go no further than the great roman emperor Marcus Aurelius. He said, œOur life is what our thoughts make it. He went on to say œA man’s worth is no greater than his ambitions. Why did I go no further? Because, when I read these quotes I was reminded of a recording by Earl Nightingale called œThe Strangest Secret.  Originally recorded in 1956, Nightingale discusses the principles of success and how goals play a crucial element in achieving life™s ambitions. Here is a section of The Strangest Secret.

“We live in the richest era that ever existed on the face of the earth … a land of abundant opportunity for everyone. However, if you take 100 individuals who start even at the age of 25, do you have any idea what will happen to those men and women by the time they’re 65? These 100 people believe they’re going to be successful. They are eager toward life, there is a certain sparkle in their eye, an erectness to their carriage, and life seems like a pretty interesting adventure to them. But by the time they’re 65, only one will be rich, four will be financially independent, five will still be working, and 54 will be broke ” depending on others for life’s necessities.

Only five out of 100 make the grade! Why do so many fail? What has happened to the sparkle that was there when they were 25? What has become of the dreams, the hopes, the plans … and why is there such a large disparity between what these people intended to do and what they actually accomplished?

First, we have to define success and here is the best definition I’ve ever been able to find: “Success is the progressive realization of a worthy ideal.”

This story from Earl Nightingale and the 100 people has grown and been altered in various forms. The next person to discuss this study is from, “What They Don’t Teach You at Harvard Business School by Mark McCormack. That book was published in 1983 and used the exact figures from The Strangest Secret. Zig Ziglar, in his recording of “How to Get What You Want” revisits this  Harvard study. I  found story after story online debating that a study was ever done. Some  online articles and  blogs  say it was a Yale study conducted in 1979 yet Yale officially denies any such record of this study. It seems Harvard can’t  validate the study  either. The Internet was  overflowing with information debating a study or arguing of no such thing. I found one so- called consultant debating both goal setting by saying there is no study and the 80/20 rule. I had to admit there was great pain in reading that blog because I fear others will read it and believe his opinion.

Earl Nightingale never mentions a study and if you look at American society today,  there  can be  zero  debate that only  5% of people in the 65+ generations are wealthy and the remaining 95% are not. One of our biggest challenges in today’s economy is baby boomers having to return to the workforce or depending on others including the government for assistance. It is easy to see how a person at age 25 ends up broke at age 65 because they never achieved their worthy ideal. Economists have gone so far as to say the 65+ generation will eventually bankrupt this country unless the younger generation alters this trend. Earl Nightingale says it is because people with goals know where they are going and people without goals are going know where. Choose to write down your goals and focus on those for as a man thinkith so shall he become, we become what we think about, and what we focus on expands! Focus on what you want in life and choose your own worthy ideal!

How many buyers are sitting “on the fence” as the saying goes? Would you like to know that they are waiting for? Interest rates are historically low and possibly the lowest consumers will ever see. Yes, I know the argument that they could go lower. Anything could happen, which is true. I actually have won the Hong Kong lottery three times in the past year and a South African uncle died  leaving me millions, which  could also  be true. Realistically though, interest rates are probably as low as they will get and if I went to claim my new found fortune overseas I would deserve the unfortunate results of my stupidity. In reality, how much lower can banks allow them to go? Banks are basically borrowing money interest free now so logically, while it remains possibly, they should either remain stable or actually increase.

So exactly  what are buyers waiting  for? If the fence they were sitting on had spikes  they would not be sitting long. They would be forced to make a decision. I am recommending associates ask for up-front retainers in this market so “buyers” actually commit to buying and “lookers” do just that. You are a professional, no different than a doctor or attorney, never forget that. I understand fear plays into the picture although  people bring fear into investing. Trust me, look up investing or investment in  any dictionary and you will not find the word fear. Buying a home is an investment. Even if it is simply a forced savings plan  of equity, it  remains an investment. The National  Association of Realtors has done a great new media ad promoting that now truly is the time to buy. The only thing missing  is the spikes….

Are you excited about this market? I wanted to seriously get you excited about
this market. The reality is that it is the only market we have and the one you
must work with so make it the best experience possible.

Remember when you were a brand new associate. I have always said, “the hardest
thing about being in Real Estate is coming to work when their is no reason
too.” Let’s face it, for most as a new licensee, they are 30-45 days away from
their first paycheck. With no listings, no buyers, and no pending deals, the
question “why go to work,” is often self-imposed. On the other side of that
coin, as a new associate, remember your energy, enthusiasm, and optimist ism
about your new career. Your probably attended every training event and immersed
yourself into every opportunity your company had to offer. If you did not or did
not have to then now is time to get back to the basics. Lead generation is
something that is a must for any business new or old.

Now move to today’s market, for the experienced associate and what has changed?
Sometimes we hit bumps in the road or get busy rather than doing business.
Other times we ride the wave of a great market and become order takers. When
things slow down as I sometimes hear, the question “why go to work,” comes back
up. The reality is, if your business is not where you want it to be then look in
the mirror and see the person responsible. I am concerned that a true
opportunity market is being missed or worse avoided because many have either
forgot or worse never learned to lead generate every day. We have, what I
consider the best training in our industry at our fingertips and all we want is
to hand deliver it to you. Ask yourself this question, “What would it take to
fall in love with Real Estate all over again?” Get back into training, start
coaching with someone, and stay active. Now is the time of opportunity.   In
five years, my deepest hope is you will look back and think, remember the
opportunity market that we were in five years ago, I took my unfair share and
boy do I miss those days!!

Julie Lewis sent me the following quote as a reminder of the value proposition
that comes with being in business with Keller Williams Realty.

“The only thing more expensive than education is ignorance.”   Benjamin Franklin

Resources:
www.kw.com
www.kwu.kw.com (Keller Williams University)
www.agentmountain.com
www.wealthbuildingwednesdays.com
www.millionairesystems.com
KW Connect
And a partridge in a pear tree….  

Recently, after several calls to real estate agents with various companies, I discovered that once again time management tends to be one of the biggest problems agents have in today’s business world. First, let™s set the record straight; one can not manage time that is an oxymoron comment because time can not be managed. A person only has the ability to manage what they do with their time. Step one is  discover your goals. What  are you trying to accomplish? What will that do  for you?  Lastly, why is  that  important for you? Not having goals is the quickest route to  no where.      

 In Brian Tracey’s book “Eat That Frog,” www.BrianTracy.com he states “According to the old saying, if you eat a live frog first thing each morning you™ll have the satisfaction of knowing it™s probably the worst thing you™ll do all day. Using “eat that frog” as a metaphor for tackling the day™s most challenging and most prone to procrastination task. Eat That Frog shows you how to zero in on these critical tasks and organize your time. This means not only getting more things done, but getting the right things done.”

Now, take that analogy to your personal and business life. Try this, take your calendar and break it into quarters.  At the beginning of each quarter I block out the days for  me and my family first. Holidays, days off, vacations, etc… This way, you are putting your family first and it becomes  your priority. Next “BLOCK” your time for building your business and set it for appointments.  Now I know what you™re thinking, yeah  yeah,  I have heard that before. Well you probably have and the reality is until you accept that it is because it works and it works every time. If you have time “management”  challenges, it is more than likely the result of  your best thinking. That means whatever your struggles may be or wherever you are in your life, your best thinking got you there.  In order  to make any sort of change, we must first realize that we are the result of our best thinking and others have come  before us so there is a better way. This way is proven by the success of those people that have already accepted  the better way.          

John Maxwell asks the question in “Today Matters,” is time or money more valuable? My friend John says time is more important because money mistakes can be corrected and when you lose time, you can not get it back or fix the mistake.  When  I approach each year, quarter, month, day, and hour,  I first identify my top priorities that must be accomplished for me to meet my goals. Until my top priority is complete, I do not get to do anything else. Basically,  use this rule of thumb;  ”Until Your #1 Priority is Done  - Everything Else is a Distraction!” In short, when you are ready to make a change and overcome managing yourself with the time you have, and then start today, not tomorrow, it must start today and it must start with you.

With national real estate markets becoming more competitive for buyers, sellers, many real estate agents are beginning to think about expanding the services they offer and diversifying their areas of expertise. Is this a good or bad decision? Based on personal experience I can answer this question without doubt. Diversification is not the answer for Realtors in any market, especially not a slow or declining one. Unfortunately the opportunities to branch out of our area of expertise only seem to be expanding. Today I can choose to be a home stager, retailer of electricity service providers, limited service brokerage, home inspector, appraiser, webpage developer, or heaven forbid combine real estate with mortgage services (I will go off on that on my next blog).

What happens in any of these equations is that you become distracted with your primary purpose of selling real estate. Having a home staging designation is terrific but it doesn™t mean get out there and start staging homes that are not your listings. Selling secondary or complementary real estate goods will never help you hit the closed transaction numbers you are seeking. So what is the answer to hitting your numbers, delivering unparallel customer satisfaction, and getting clients the services they need? Be a master of your craft and refer secondary services to those that are a master of theirs. Create referral directories within your communities for services related to your business. Need a mortgage, call a loan officer; need a home staged, call an accredited staging professional.

If Realtors will focus on one task (lead generation) they will see an endless supply of business. Gary Keller calls this the power of one. There are reasons bowling pins are not set up side by side, rather they are set up so if you focus on the head pin, you can hit a strike. That™s focusing on the power of one and using your skills where they are needed. What ever career path and journey you decide to take for your life, do so with conviction, passion, and do not let distractions take you off the path for success!!

Welcome to Dru Lee’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Norman.