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Real Estate Fight Club

11
May 2020

Episode 33: How Long Should An Agent Try a New Technique Before Pivoting?

May 11, 2020

In Episode 33 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over how long an agent should try a new technique before pivoting. Hear why Jenn thinks a new technique takes six months or more to gain traction and why Monica thinks people need to stop committing to do things they don’t want to do. This episode has valuable advice for implementing new strategies successfully without falling for common pitfalls.  

Episode Highlights: 

  • How long should an agent try a new technique before pivoting?
  • Jenn thinks you should begin any implementation process by considering what it will take.
  • Assess if you have time to implement the technique in its fullness.
  • Define from the outset what success with implementation will look like.
  • Anytime Jenn has tried a new technique it has taken 3-6 months to see results.
  • Jenn argues that you have to add time upfront for figuring out the system and tweaking it to suit your business.
  • Most people who try these techniques aren't giving it long enough or fully implementing.
  • Monica wants people to assess why they’re trying something new.
  • Are you doing it because you saw somebody doing it and you're comparing your business to the outside of another business?
  • Talk to the person you are comparing yourself to and ask how long it took them to achieve those results.
  • Ask if the approach is right for the type of business you want to have. Ask if it is in line with your overall plan.
  • Monica tells us about an exercise used by coach Jacqui Bowman to assess activities you do in your business.
  • Jenn describes a 4-5 month implementation of a Facebook strategy.
  • The last technique Monica remembers implementing took three months to gain traction.
  • Monica describes coach Hank Avink's red/green/yellow light process that gives you markers to judge the success of implementing a new strategy.
  • Agent Ralph Lord does a debrief with himself assessing whether he took enough action to achieve the desired outcome.
  • If you want the outcome, are you doing the work?
  • Monica talks about people saying that open houses don't work for them when they haven't really given them a fair chance.
  • Ask whether the quality of your actions was sufficient and what about them needs to change.
  • Think of yourself as a scientist. Look for what isn’t working as well as what does work.
  • If you're going to experiment with something, put the rules down for it.
  • Ask what this is really going to take and where you will fit it in.
  • Monica urges us to stop committing to things we don’t really want to do.
  • When you don't like something, try to think of a different way to do it that interests you.
  • Have a purpose behind what you're choosing.
  • Have the budget in place to finish the project before beginning it.
  • Most people that replied to this question said that full and effective implementation of new strategies took about a year.
  • Monica doesn't think you have to try a new strategy for six months necessarily.
  • Successful people pivot when they see something isn’t working.
  • The problem is that people are inconsistent.
  • Jenn reminds us to decide up front what kind of results you’re looking for, the budget you’ll need, and the steps you need to take.
  • Collect evidence for six months.
  • If there's any strategy that sounds like a miracle and you don't see a lot of people using it, ask yourself why before you invest.
  • Remember, there’s no magic pill in this business.

3 Key Points:

  1. When pursuing a new strategy, define your desired results, set a budget, and make an action plan. 
  2. Before committing to a new strategy, really assess why it appeals to you and if it will work with the vision you have for your business.
  3. Don’t just “try” things. Get them done. 

Resources Mentioned: