MREA : 24 Topics
1. Your foundational models form the base you must have BEFORE
adding creativity in order for it to be successful.
Leads—Until you have enough to hit your goals, everything else is a distraction.
Listings—Take less of your time and provide more opportunities to market your business.
Leverage—When you’re doing all you can, get help.
2. The 6th Common MythUnderstandings
Myth: Having a goal and not fully realizing it is a negative thing.
Truth: Having a goal and not trying to achieve it is a negative thing. Talk about an example in your life when you’ve faced your own limiting belief. Encourage others to share their own challenges and how they
have overcome them.
3. The Attack Strategy (The Nine Ways an MREA Thinks)
Let’s take a look at the way you are attacking your business. Are you clear about your motivations? Are your goals big enough to pull you toward them? Are you caught up in the problems? Are you committed and have you articulated your standards and service?
4. The Big Why
The Big Why is about having a purpose, a mission, or a need, that in turn gives you focus. What is your Big Why?
5. What is Your Value Proposition?
This is the most useful page for a real estate agent as it lays out the basic 10-point value proposition for buyers and sellers. It’s the foundation of any buyer or seller presentation.
6. 80:20 Graph
What is your 20% that you focus on? This graph illustrates that time and effort on the 20% that really matters will deliver 80% of the results we seek. Remember, activity and productivity are not always the same.
7. Do You Know Your Numbers?
There are two sets of numbers the Millionaire Real Estate Agent is
always aware of: goal numbers (your annual goals) and actual numbers
(monitored on a weekly basis and acts like a compass).
8. Economic Models
The percentages show you what you need to do to get where you want to go. What is your personal financial goal, $100K, $200K, $300K, $1M? Be prepared to look at this with your average price and commission and your local market. Review the MREA model. Get aha’s and feedback. What would it take to build a database of Mets or Haven’t Mets in your market to reach that goal? How many contacts would they have to add to their database each day to reach that number?
9. Lead Generation is extremely important in the real estate field. What are some of your strategies for lead generation? You might mention the Daily Challenge of CAMP 4:4:3 which is about making 10 new contacts
each day. Done faithfully, that’s 2,500 Mets added each year (10 contacts
x 5 days a week x 50 weeks = 2,500 Mets).
10. 8 x 8 – How do you cement the relationship with your leads once you have them?
11. 33 Touch – How often do you keep in contact with your Mets? You want to be the one they think of when they think of real estate.
12. 12 Direct – How do you work the Haven’t Met portion of your database? By using the fundamentals of targeted marketing and farming. Again, this is the battle for positioning. You want to be the first person
they think of when they think of real estate.
13. Budgeting is a core part of your business practice and can be fun and engaging when it takes on aspects of a game. Do you examine your books monthly? The MREA Budget Model by GCI/production
volume gives us invaluable guidance. The simplest way of looking at it is 30/30/40: 30% cost of sales–30% expenses–40% net.
14. Lead Generation ratios and lead generation numbers for $1M. What would your 8 x 8, 33 Touch and 12 Direct Lead Generation numbers need to be for your net profit goal? Can you help an agent with the
15. MREA Budget Model Graph – Net $1M. Do you know where to focus your attention in the budget model to draw the highest dividends? Focus on the big costs–Salaries and Lead Generation–and hold them
accountable to multiples of your expenditures.
16. Organizational Model (Who they are), Basic Job Descriptions (What they do), and The Path to People Leverage (The order you add them in). How do you go about hiring people? What are their job descriptions and in what order do you hire them?
17. Profit Sharing Program
Do you know how to build a financial incentive program that is win-win?
18. Pragmatic Questions to Ask
The difference between Earn a Million and Net a Million means you need to conquer 16 key issues all based on Leads, Listings, Leverage, Money, and You. Do you know what these issues are?
19. Business Organizational Model
Do you know how every part of your business is run? Do you have an organizational model in place? An organizational model not only gives you a firm grasp of how things are run, but allows you to improve upon
20. The Goal-to-Action 20% System
To be successful at high levels, staying focused is essential. The worksheet on page 256 will help to answer three questions: 1) What do you want? (Goal), 2) When do you want it? (Date), and 3) What has to
happen for you to have it? (Action Steps).
21. Time Blocking
Are you always working IN your business or do you find time to work ON it? When you identify your 20% it goes on the calendar. Life happens, but if circumstances steal your 20% blocked time, immediately block that commitment elsewhere on the calendar. Don’t compromise your own goals and the activities that help you achieve them. The Rule: If you erase, you must replace.
22. Counterbalancing Your Life
It’s okay to get out of balance for periods of time, but acknowledge that you are out of balance. Then you can delegate or ask for help so you can regain your enthusiasm and avoid burnout. The ruling factor of living a counterbalanced life is to allow imbalance when key goals are at stake, but not to dwell in that state for too long.
23. Five Simple Steps
Achieving your goals requires focus. Five steps can lead you to great focus and open up possibilities in business and life. Do you know what they are?
24. MREA Energy Plan
How do you keep yourself energized throughout the day? The Energy Plan is about having a great foundation for every day and finding your balance when it has been lost. Ask if people will make commitments to taking care of themselves as suggested.