Learning from the Top: Key Take-Aways from Tim Heyl’s Massive Success

We had the privilege of having Tim Heyl as a special guest speaker at our Market Center last month, which was such an amazing opportunity to learn from the best. Tim Heyl is a 28 year old agent who is in his 6^th year in the business and is on track to do over 3 million in GCI this year. He started with nothing and had to borrow money from his sister to attend BOLD; however, by his third year in business, Tim became the number one agent in Austin and he continues to grow. If you weren’t able to make it to his presentation, HERE is a great interview that Gary Keller did with him at Mega Camp in 2013, which was his third year in business.  Also, I wanted to share some of the key take-aways that I received from Tim that we can all implement and utilize to take our businesses to the next level.  

1. Hire a coach early on and remain closely engaged with a coach throughout your career- Tim hired a MAPS coach within his first year and even before he had the money to pay for a full year of coaching because he understood the value of having an excellent coach in his corner. He attributes much of his success to having great coaches along the way that he could bounce ideas off of, that kept him thinking big, and to helped him to remain accountable to his goals. 
2. Be 100% fully committed to your lead generation. Even through the cacaos, Tim never drops the ball on lead generation because he knows it is the most important part of his business. He described that he became obsessed with getting his 5 “nurtures” a day and no matter how painful it or how much he wanted to do other things he aways got it in. If he doesn’t get his 5 nurtures that day then he doesn’t count that day as a workday and he has to make it up on a weekend.
3. Relentless follow up is key- 60-70% of business comes from lead follow up, so from the beginning Tim understood that if you are consist with developing the contacts and leads today and you relentlessly follow up, those will pay off down the road. He is always working to build his pipeline and he is consistent about following up.
4. Leverage as soon as you can. At the beginning of his second year in business, Tim began to build his team and hire part time help with developing systems, doing administrative work and helping with other tasks that would take him off of his lead generation. He said leveraging those tasks early on is really what allowed him to focus on the most important aspects of his business and grow his business.  He now has a seventh level business with over 20 employees on his team and he has expanded into two other markets.
5. You can control your own schedule- Even from year one, Tim was committed to sticking to his schedule and not working nights and weekends. His lead gen and lead follow up was time blocked and always came before everything else. Clients and other agents can wait and will respect your time if you set the expectations up front.
6. We can all have the same success in our businesses- Tim often gets the question “how have you been so successful? What is the magic formula?” His response to that question is that there isn’t a magic formula and that the only secrete to his success is the consistency and dedication he has in regard to lead generation and lead follow up. This is great news for all of us because we can all follow that model and reap the same benefits that Tim did! 

Are you Bold?

What is one thing that you are not doing right now in your business that if you did it consistently it would allow you to go above and beyond your goals? What is that cost of you not doing that action?

Does Coaching Really Payoff?

There was a recent article in Inman dedicated to real estate coaching that examined why agents decide to hire and coach and whether or not the coaching delivers a return on investment. Although I have personally experienced the payoffs of coaching and I have been able to see the growth of my own clients through coaching, I was happy to see that the statistics are also demonstrating these results. You can access the full Inman article HERE and I would like to share some of the major findings and key points that would be relevant to you.

Let’s start with why agents hire coaches in the first place. What are they hoping a coach will do for them and their business? According to the Inman survey, there are 3 main reasons people hired a coach

1. To Grow Their Business
2. To be Held Accountable
3.  To Motivate

We are in a business where there is so much room to be pulled in multiple directions and have a number of different things vying for our attention.  It can be easy to mistake movement for achievement. Often we feel busy because our calendar is full and we are running from here to there. However, it is important to note that many of the things we are choosing to spend our time on are not revenue producing, productive activities. The coach keeps the client focused on the target…their goals and the most important actions they must take to reach their goals! A good coach understands that the goal belongs to the client and they are not in judgement. Nevertheless, the coach is there to stretch their clients and keep them accountable for doing what it takes be as successful as possible.

In addition, having a coach is like having another eye on your business. A coach is like an objective eye watching over to see where you are and what your future may hold. Think of the Tiger Woods of the world. Even those who are at the top of their game and are the best at their craft have a coach who can see their swing form a distance. In this case Chris Camo, Tiger Wood’s swing coach, serves as this person. He is able to improve accuracy and distance while taking the guesswork out of the equation. Consider your coach the expert to be able to do the same thing. As a result, many clients refer to the coach like a personal business trainer to help them do the same.

We know that a coach can help keep their clients stay focused on their goals, stay accountable for their actions and provide an outside objective eye on the business, but the question that most people are interested in is “does coaching really pay off and what is my return on investment? “According to the Inman survey on real estate coaching, the answer is yes and yes! The vast majority of agents who work with a coach have a return on investment. For every nine out of ten people surveyed, they saw an increase in production from 10-50%, and some even tripled their production as a result of coaching. That’s great news for you and me!

One of the most cited reasons for an increase in production is the accountability that a coach brings to the table. Coaching provides personal accountability.  We know that people keep promises better to other people than they do to themselves. When we make a commitment to someone else about what we are going to do, we tend to follow through at a much higher rate than if try to do it on our own. The coach’s job is to hold up the mirror of reality for their clients, support them with facing that reality and empower them to make necessary changes to create the habits of success.

To continue, the survey showed another key to success of coaching is the strategic partnering that comes with the coaching alliance. Coaching is also about training and sharing what we know is working in the industry. We know that success leaves clues, so there is no need to reinvent the wheel. One of the cornerstones of coaching is that it is a “relationship of partnership” where the coach is a partner in their clients business and shares with them what works.

In conclusion, the Inman survey presents the overwhelming evidence demonstrating the power of coaching for real estate agents. What could coaching do for you and your business? Now is the time to invest in yourself and see your production increase to up to 50%? It all starts right now.

Giving Back will Boost your Bottom Line

82% of consumers consider corporate social responsibility when decided which products or services to buy. So what are you doing to give back to your community?  You will get what you want when you help people get what they want!

How to Bounce Back from Adversity Part 3

Check out the final two building blocks of resilience and how you can use them to make yourself stronger and a better agent!

How to Bounce Back from Adversity Part 2

Taking a Break Improves Productivity

We’ve all been there. You are working hard, focused at work and feeling on top of the world. Ah, you are just being so productive! Then, it hits you unexpectedly like a speeding car coming out of nowhere from the dark of the night. Your head starts to turn rapidly and all of sudden you can’t focus. You feel the urge to get up to move around, work on something else or daydream. What happened? You were on such a role, but unfortunately, it was inevitable because research shows that that the majority of healthy teenagers and adults are unable to sustain attention on one thing for more than about 20 minutes at a time. So here’s a question for you: What should you do? Take a break.That’s right!

I know what you are thinking. “I’m too busy to take a break” or “If I take a break now, I won’t be able to finish everything.” Truth is, this is simply not correct. Now, it’s time to discover the sheer power of taking break from your work.

1. Breaks keep us focused

Studies show we have a limited capacity for concentrating over extended time periods. For example, studies show that performance starts to deteriorate after 50-60 minutes of continuous work. Taking rest breaks every 40-60 minutes can reverse this trend. The human brain was not built for the extended focus that we ask out of it. As humans, our brains evolved to be very aware of our surrounding environment. Hence, focusing on one thing for a long time is simply just not we are manufactured to do. By taking a break, you are actually setting yourself up to be more productive in the upcoming hours of the day.

2.  A break leads to mindfulness

When you take a break, you are taking a moment in your day to become mindful of the environment surrounding you. Often times, when we completely emerge ourselves in one specific task, we loose sense of what is happening around us. For example, I am sure that you’ve been in a situation where you are promptly typing away, and don’t even hear your eager co-worker repeatedly saying your name above that welcoming cubicle. Over the past few years, a number of studies have confirmed that the practice of mindfulness leads to enhanced performance, improved sense of well-being, reduced stressed and burnout and increased ability to remain calm in difficult work situations. Thus, when you are more mindful, you are more productive. This all starts by simply taking a break.

3. Taking a break is physically good for you

Numerous controlled studies demonstrate that musculoskeletal discomfort, eyestrain and physical tension are reduced immediately after taking rest breaks. Such breaks provide relief from the pain and discomfort due to sustained computer use, which affect up to 60% of people using computers. This being said, research supports the notion that not only is taking a break good for you mentally, but it is also physically good for you. Take that break- your body will thank you later.

4. Breaks increase brain activity

As you can see from the above brain scan, taking a twenty-minute walk increases brain activity. With the increased blood flow to the brain, you are able to make stronger connections, and ultimately retain more information. If you are prospecting through door knocking, you are killing two birds with one stone! I realize you might not be able to take a 20-minute walk in the middle of the workday every day, but the good news is that a recent study found that the use of "micro-breaks" (ie. lasting 20-30 seconds)  increased speed, accuracy and performance. So, ahead and get on Facebook every now and then or take 30 seconds to close your eyes and breath!

5. Taking a break allows you to re-evaluate your goals

This is something that is known as goal reactivation. When you are working on something continuously and then take a break, you come back to the task with a “new set of eyes.” You come back feeling refreshed, and this really shines a new spotlight on your work. Taking that time away forces you to take a few seconds to think about what you’re ultimately trying to achieve.  If you are struggling with something, don’t get frustrated.  Rather, take a break. When you come back to it, it is likely you will make forward progress. Even if you are not at a stand still, taking a break may help you find holes or inconsistencies in your work.

            When it comes down to it, make time to take breaks throughout the day. It will help you with focus, mindfulness, physical health, brain actively, and re-evaluation of goals. Each day, remind yourself to take set breaks. In the end, the time away, even if it’s just a micro break, will pay off.