Zac McHardy

My Recipe For Real Estate Success – Top 5 Ingredients

When I started in real estate four years ago, I honestly had no real idea what I was meant to be doing. I was working as a PA for a leading agent in the area and noticed that vendors were always calling to list with him. At this stage, I thought the real estate game seemed really easy, and wished I had entered it sooner. Then I stopped being a PA and opened a new office nearby and realised it was not that easy. It took me a while to figure it all out but slowly, ingredient-by-ingredient, I was able to put it all together and build a successful business.

INGREDIENT 1: KNOWING WHAT YOU WANT

Everyone talks about goals all the time but do they really believe them and follow them? Do they have them written down? Do they look at them every day and visualise them? Unfortunately, most people don’t. There was a massive change in my career when I looked over them every day. I had them in my wallet in my bedroom, in front of my laptop at the office and any place I would look when I was not focused or stressed. Only a short time after, I could see the movement towards them and the focus was much higher.

Top Tip: Write your top five goals, laminate them, put them in your wallet, and look at them three times a day.

There is a secret to prospecting that only a few agents seem to have a grasp on – consistency and discipline.

 

INGREDIENT 2: PROSPECTING.

I stick to four types of prospecting in my core area. Cold calling, warm calls (contacts I have made over the time), letterbox drops, and open homes. There is a secret to prospecting that only a few agents seem to have a grasp on – consistency and discipline. Prospecting takes up about 60% of my day and the rest will fit in. You need to feel comfortable about your prospecting and have a plan. Follow your numbers and see where you get the most leads. For me it is open for inspections. I generally get about 60% of my leads from this. Therefore, I put most of my time into this style of prospecting.

Top Tip: Make a prospecting plan and stick to it. Make it your priority. Follow your numbers and see what is working for you. Do not start with something then stop only 3 weeks later.

Having time for yourself and your family is vital.

 

INGREDIENT 3: WORKING HARD AND TIME FOR YOU.

I loved working seven days a week running around chasing the deal (and I still do). However, I worked myself to the ground. I now only work five and a half days each week. I have a 5am start on a Friday and then head home around 1pm to wash the car and relax for show day on Saturdays. I also do not work Sundays. This is something new for me but I can already see the difference. Real estate can give you a lot but it can also take much away if you let it. Having time for yourself and your family is vital. You need to constantly recharge and be fresh. I recently came back from fantastic two months in Vietnam, Cambodia, and Singapore. I was able to get my mind off the day to work and look at my business from a different perspective. On return, I implemented new systems that are already working for me.

Top Tip: Book your breaks on the calendar now and look at it every day. You will be amazed how much you will focus on making sure that time away is the best you have had.

 

INGREDIENT 4: TRAINING AND IMPLEMENTATION.

Time after time, I went to conferences, seminars, and in house training. I always walked out pumped up and keen to get it all going. Even though I picked up at least 10 ideas from each session, I still noticed that nothing was really changing and I could not understand why. Then I realised I was not implementing anything. A great idea picked up from a friend and mentor of mine is implementation Thursday. Make a list of everything you want to start doing or implement into your business and work on that once a week for two hours on a Thursday. Since learning this very simple skill, I have implemented over 35 new ideas into my business.

Top Tip: Make a list of 100 things to implement. Go back through all your notes from any training you have done to help you make your list. Rank them from easiest to hardest and work on one easy one and one hard one.

Just like a good recipe, it can take time for everything to blend but the sooner you start the quicker you get to eat your cake.

 

INGREDIENT 5: KPI AND ACCOUNTABILITY

One of the best things I have implemented, and continue to do today, is taking time to analyse my numbers. I have been doing this for just over a year now and it really shows you what you are doing or not doing. Grab any one of the KPI forms from the Internet and start with what numbers you want to do per week. I currently use an iPad app for mine, as it’s mobile and easy to download a report at the end of the week to see how I have gone. I have now implemented a “Buddy System” with another agent and we compare numbers at the end of the day/ week and keep challenging ourselves. If we do not achieve our numbers, we try to figure out why.

Being accountable has been a great way to ensure I reach 100% on all of my KPIs. Don’t try to put numbers in that are unachievable. Be realistic, but push yourself.

Top Tip: Talk to someone you trust. They do not have to be in your office (mine isn’t) and send them a text each day or a quick call to let them know how you went. Book in a fortnightly lunch. Sit down with them and talk about any issues you have had during the past two weeks. Another person’s advice might be just what you need to help you get to you achievements.

 

This is my recipe. It has been great for me, and so far in my career it has been a fantastic ride. I think if you follow these five steps, you will see a big change in your business in only a short amount of time. Just like a good recipe, it can take time for everything to blend but the sooner you start the quicker you get to eat your cake.

 

Keen to hear your thoughts…

I’m putting together a Top 10 Ingredients for Real Estate Success and I’d be really interested to hear from Real Estate Mentors readers if you have any other ingredients that you feel should be included.

Thank You in advance. I hope you enjoyed the insights I shared within this Top 5 Ingredients article.

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This article originally appeared in Sold Magazine.

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4 Responses to “My Recipe For Real Estate Success – Top 5 Ingredients”

  • Great article Zac! Love the Implementation Thursday Idea. Implementation is such a critical pillar of success!

    In regards to your Top 10 list, I caught up with Mat Steinwede a little while back and asked Mat “if you started over again what’s the #1 thing you’d do?”, Mat said “Focus on my database”.

    I said, yeah I originally thought that too but for me the #1 thing that I’d do in today’s rapidly changing world is “Embrace Innovation Faster” because in doing so it will help you build/nurture your database as a by-product.

    Hopefully, that may help you somewhat with your Top 10 list. :)

  • I was reading articles from Real Estate Mentors and picked up your recent post, Zac. Real estate is a very interest “game” and certainly has he ability to “take it out of you” if you let it get on top.

    Your five ingredients to your Real Estate Success recipe are well worth noting.

    It is certainly important to know what you want, to be consistent and have discipline, to work hard and to train but the most important one for me, that you well noted, to be accountable to someone and a “Buddy” is fine.

    If I was to offer ideas for your “Top Ten” then perhaps you may consider digital marketing.

    I enjoyed your article post and look forward to more in the future.

  • Kylie Moss says:

    Great article Zac, I recently got a ‘Buddy’ to check in with and finding that it really helps having someone close by but not in my office to have a chat about what we are doing & being accountable.

  • Hi Zac,

    Sounds like things are going very well for you in 2013. Thanks for the helpful tips you have put together for ‘My Recipe for Real Estate’, I have just put the ‘Implementation Thursday’ in my diary as a reoccurance each week. Love that idea!.I am currently in the throws of relaunching my business ‘Agente’ to now being a seller & buyer agency. Very excited.
    I am very focused on the KPI system as well, it works wonders for accountability. I am conscious of my family & free time working in Real Estate, it can take alot from you. Fitting in your healthy eating & PT sessions works wonders for me.Thanks again. May see you sometime and another seminar.
    Take care, Jenny Vile

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