In a pinch for money? Listen as we describe some quick, easy ways to make immediate cash to keep yourself afloat in any situation.
So first we're going to look at the Real Estate Survival Plan
- and I really, really love the survival plan because I know how well it works, because it's something that Tim and I did in our own real estate practice from time to time - and something that all of our coaches and most of our students have done as well.
It's common to start out in coaching with various financial stresses. Sometimes all it takes is just have a few deals tank on you, get rescheduled or go sideways and before you know it you've got a cash flow problem. Other times it's a chronic, ongoing challenge - for instance, some of our members are still recovering from the woes of the last recession & paying off debt, while others are focused on trying to build up a nest egg to buy or rebuy or upgrade your own home.
It doesn't really matter what the reason for your financial stress is, you've got to make money now and that's why we've got the survival plan. So you absolutely want to download it in PDF format and embrace it at the highest level you know how.
Since you're financially strapped, you don't really have the luxury of procrastination right now - you need to just buckle down & do the survival plan - it's so much easier, I promise you. The survival plan starts with a discussion about when it's a good time to use a survival plan, and then goes into the survival plan rules. When you follow these rules, you will get out of survival mode faster, which then lets you focus on long-term planning.
The faster you make it through the survival plan. The quicker you're going to launch up to that next level and you'll only need to use the survival plan now and then when you have a cash crunch so follow the plan don't pick and choose what you're going to implement do all of it. Don't try to reinvent the wheel do nothing but dollar productive activity during survival mode.
Don't spend money that you don't have during survival mode - don't throw stuff on a credit card, but make sure that you do get an accountability partner to help you as you work through this do commit to working normal workdays. Now I know some of you guys have other jobs and you've got family commitments and other things. So if you can't commit to normal five days working you know the normal work schedule figure out what you can do and maybe modify this plan to meet your time constraints.
While you're working the survival plan (and in general), do not associate with anyone negative. Surround yourself with people who are positive, supportive and lift you up - and if that means that it's a little bit quiet in your office now and then that's OK.
In addition to the survival plan, I want you to work on the other items we've linked to below - they'll complement the plan by giving you actionable techniques to start generating leads rapidly, such as the 25 Sure-Fire Lead Generators. I also want you to start doing the Daily Success Game, which is there to give you a great accountability tool to track your progress.
I'm also going to have you look at how to monetize open houses. When done correctly this costs you only your time, and very little money - but just throwing up a sign in the yard and hoping that you'll have somebody great walk in the door is not enough. You have to follow our coaching specifically on how to monetize open houses they do work when you do them the right way.
In addition, take a look at our document on referral sites. We recommend not to buy leads but paying referral fees for closed whole transactions is fine. If I referred you somebody that's going to buy with you in the next thirty days in your market I would expect a twenty five percent referral fee just like anybody referring that to you. There are companies who'd only charge a referral fee usually twenty five thirty or thirty five percent.
Some of them. Have a registration fee. Some of them do not so we gave you a list of our favorite referral fee sites that's one way you can get things going now. Don't just do that and not do the survival plan because I can't predict how many referral leads they have for you in your particular town on a particular day that would be called waiting and praying to the real estate gods. It is simply a supplement to doing the survival guide.
Having a cash flow crunch is a temporary event for some of you, but it's become a lifestyle for others. Don't let the lifestyle continue - do the survival plan and you will soon find yourself at the next level financially. You will be paying off debt, you'll be saving money - and you won't be living commission check to commission check.
We absolutely understand that this is a stressful time for you - we've been there too, as have most agents - so my advice is that when you're feeling stressed out just turn on our podcasts
and let us support you, bring you up and be next to you - at least virtually speaking. Most of all, don't despair. Just follow the survival plan. So now it's time for you to take a lot of action - so get started using the links below!
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