Business Bros – Episode 49 – White Board & Visual Accountability (HCCA) Part 2

One of the main reasons why you do not pay your self first, reach your financial goals or ever put money away for a rainy day is because you have no external accountability. Being held accountable is why you pay any of your bills at all. There is a negative result if you fail to pay your bills and avoiding that pain is why you make is happen month in and month out. In today's podcast we go over an example of the 5 white boards that all Top Producing Real Estate agents use to hold themselves accountable to the dollar productive activities on a daily basis. To get more info and you free coaching call go to our website www.SiasFirst.com and click on the Free Coaching Call tab. You will get your 6 free books and be well on your way to improving your Real Estate business and becoming a Top Producer yourself. Join the conversation on Facebook @SiasFirst or on Twitter @BusinessBrosPod. Music by www.bensound.com Courtesy of Tim & Julie Harris Real Estate Coaching We have never met, interviewed or coached a single top producing agent that does not use some sort of visual accountability system. What you will need, 5 individual white boards 18x24 or 1 dedicated whiteboard wall, Not too thick whiteboard markers (colorful), Whiteboard cleaner. Why it works: External Accountability. Have you ever noticed, virtually every month you are able to cover your monthly basic overhead one way or another? Sure sometimes your late on a bill or two but by and large you figure out how to make enough money in Real Estate to cover your bases. You receive an email alert, paper bill in the mail, you are reminded that you are accountable for these items. Rent or mortgage payment, car, credit card, cell phone… If you don’t pay these obligations in time there is an immediate negative effect. Don’t pay your cell phone, no service. Don’t pay credit card, no credit. Don’t pay your car payment, repossession. SECRET: Most agents know exactly how much they need to “get by” and strangely, that’s almost EXACTLY how much they are earning. Exercise:  Figure out your required overhead. How much do you have to make to avoid some sort of pain? What is that dollar amount? In California on average its about $6500 per month Average home in CA sells for around $500,000 at 3% with a 65% agent split that is about $9,750 per closing That means in CA you need 8 closings per year to pay the bills and surprise surprise, according to the National Association of Realtors, most agents sell less than 12 properties per year. So why is it then, that it’s so hard to accomplish the financial goals that you set each and every year? Pay off consumer debt like credit cards or high interest loans. Save money on reserves. Pay cash for things like cars and clothes. Take the vacation you plan but never take because you don’t want to charge it on a credit card. Put the kids in private school after taking them out during the last recession. Be able to afford the luxuries you deserve as a result of your hard work.  SECRET: It’s hard because no one is BILLING YOU FOR THESE THINGS! What would you do if you have a bill that came in every month for $1000 that was called “Mandatory Savings, please remit immediately”. Chances are you would take it more seriously and figure out a way to pay that bill too just like you pay all the other bills that have accountability attached. What does this have to do with whiteboards. SECRET: Your financial goals in life are related directly to the consistent flow of leads, listings and closings you can create on almost a DAILY basis. Lack of external accountability works against you. What if you don’t take a new listing this week? Nothing happens immediately but 60 days from now, when you don’t have a closing, you’re feeling it and wondering what happen. What if you don’t reduce that overpriced listing of yours? Ah, it’ll sell eventually. Unless it doesn’t, because you weren’t focused on getting it sold with urgency. Wh