Editor’s note: This is Part 4 in a five-part series. See Part 1, Part 2 and Part 3.
Would you like to double your income without doubling your work? Once you have mastered systems and leverage in the SLAM (systems, leverage, attraction, mindset) model, increasing your income shifts to being more heavily influenced by factors outside real estate.
Have you ever noticed that when you plan an extended vacation your business suddenly picks up? The principles of attraction explain why this is the case. Rather than allowing this system to work haphazardly in your business, being intentional about its use can produce amazing results. The six steps described below are the foundation for attracting the real estate business that you have always dreamed of having.
1. You attract who you are
Who is the best client you’ve ever attracted in your real estate business and what do you two have in common? On the other hand, who is the worst client you ever attracted? What do you and that client have in common?
In most cases, your clients mirror what is going on in your life. For example, if you attract disloyal people, have you failed to keep your word or do what you promised to do? If your transactions are always filled with problems, are you lacking integrity somewhere else in your life?
The one exception to this rule occurs when you decide to work with a client you should have referred elsewhere. Almost everyone remembers having that gut feeling that said, "I shouldn’t work with this person." You ignore that little voice inside and the transaction turns out to be a disaster.
2. Create space: the vacation phenomenon
To explain the so-called "vacation phenomenon," remember that nature abhors a vacuum. When you create space in your business, more business usually shows up. On the other hand, if your schedule is already packed 24/7, your production will remain capped at its current level because there is no room for new business to come into your life.
Although this may sound odd, I have trained this concept for years and it almost always works. To make more room for new business, clean your closet, clean your desk, clean your garage, file those stacks of papers, fire those buyers who are wasting your time, and refer that listing you’ve had for 12 months to another agent. It makes no difference where you start. The goal is to eliminate whatever is easiest that is taking up unnecessary space. This makes room for new business to appear.
3. Have clarity about what you want to attract
What does it mean to have clarity about what you want to attract? An agent who had created a phenomenal income in just six months had this reply when I asked him how he did it:
"The first thing I did was to sit down and write a list of characteristics of my ideal client. It was 15 pages long, right down to the type of belt and tie he wore."
When I asked if his ideal client had shown up yet, his response was, "No, but a lot of his brothers and sisters sure have."
If you do not have a detailed list describing your ideal client, now is a great time to begin one. The more specific you are, the easier it will be to say "yes" when the right sellers and buyers show up and "no" to those who are a poor fit because they are difficult, unreasonable, or dishonest. In fact, saying "no" to overpriced listings, to unethical sellers, or to sellers who are unwilling to pay a full commission actually increases the quality of clients you will attract.
Again, the principle of attraction says, "Like attracts like." In other words, when you have high standards and high ethics, you attract people who are like you. When you lower your personal standards because you are desperate for money or business, you often attract difficult clients.
4. Visualize what you want to create
Have you ever seen someone pin up a picture of a car that they wanted and before long, they were driving it? This illustrates the importance having clarity about what you want to attract and visualizing yourself as if it has already happened. In terms of your real estate business, if you want to work with better-quality clients, take time at least once or twice per day to imagine yourself working with that type of client. What type of clothes are you wearing? What kind of car are you driving? What types of properties are you showing? The more detailed you can be about what you want to attract, the more likely it will come to pass.
5. Give back
There’s an old adage that says, "When you give to a giver, what do they do? They give back!" Do you show you give back in some way to your clients and/or your community? The law of attraction says, "What you give to others comes back to you." In other words, if you want people to contribute to your business, you need to contribute to others.
6. The attitude is gratitude
This final component of attraction can be summed up in a simple question: "How can I ask for more when I don’t appreciate what I already have?" How many times have you expressed your gratitude to buyers or sellers for doing business with you before the transaction is closed? Have you ever told your office manager you appreciate the fact that he or she is there to help you? What about the people at the escrow or title company?
Remember, if you want more business or more of anything in your life, you need to appreciate and be grateful for what you already have.
Attraction is the basis for the final "M" (mindset) in the SLAM Model. See Part 5 of this series on Thursday to learn more.
