The first characteristic of an Elite Level Producer that we discussed last month was CLARITY. ELPs take time to think. They take time to think so they can improve themselves and their businesses. They want to optimize all aspects of their lives.
Here are just some of the questions an ELP might be asking them themselves right now:
- Am I a good marketer? What do I need to learn to be better? Where is the market going? How do I need to change?
- Is my personal brand growing? Has it stalled? What do I need to do keep growing?
- Am I working smart? What areas of my day and life can improve? How can I level up my productivity?
- Are my finances in a good place? How can I improve my budget? Where can I improve my spending?
- Am I healthy? How can I change my lifestyle to add years to my career and life?
The difference between an ELP and the remaining 97% is that the ELP answers the questions and subsequently takes action towards improvement in those areas in the right sequence.
We mentioned last week with Characteristic #5 (SKILL) that an ELP is on a lifelong journey of self-development. An ELP makes self-development their #1 priority.
This leads me to Characteristic #6 - Elite Level Producers are INNOVATIVE. Through thought and self-development, they gain new perspective, thought, and elevated ideas.
The dictionary definition of INNOVATIVE is: "introducing new ideas; original and creative in thinking.” So, I would define it as someone that "puts an emphasis on thought to create ideas that can benefit their lives and business.” An ELP takes that idea and analyzes it based on their business plan and “where they think the puck is going to be.” Yes, there is that Wayne Gretzky quote again. An ELP “goes where the puck is going to be, not where it is now.”
The importance of being INNOVATIVE has never been more clear than it has been in the last 3+ months. Our world has completely changed. The change has made an extreme impact on how we conduct our businesses. The days of putting a property on the MLS, installing a sign, and hoping that the property sells are over. Buyers are viewing a property to verify if they want to write an offer not if “they like it.” We are forced to meet the market in a virtual way. We need to market our properties differently. The level of trust needed with a real estate broker has never been higher and an ELP knows this. They look at the phrase “know you, like you, and trust you” and they realize they need to modernize it.
The “know you, like you, and trust you” is an original concept that will not change but how you create that comfort level with your clients is changing daily. How you market your properties is changing daily. Actively building a personal brand is now not an option. If you want to be in the game, it is necessary in our new economy.
Those brokers that were INNOVATIVE 6+ months ago are now increasingly grabbing market share. On March 23rd, I did a MMPT called “You Were Built For This.” That call was a love letter that I sent to all of you brokers that had been working so hard over the years to build your database of clients, develop your personal brand, and improve your marketing. Yes, “You Were Built for This” and the results have been extraordinary. You would not want to be a transactional minded broker in this environment. Relationships are everything in the COVID economy.
- To be INNOVATIVE, you have to take action. You can’t wait for market to come to you. You have to be ahead of it.
- To be INNOVATIVE, you must understand the most important aspects of your business and become great at them. It is extremely difficult to outsource those key areas.
- To be INNOVATIVE, you must take responsibility. You cannot wait for someone else to create the idea or hand it to you.
- To be INNOVATIVE, you must understand that “change is constant.” It is a lifelong journey to stay ahead of the pack.
- To be INNOVATIVE requires constant self-development. New ideas are created from being exposed to those with experience.
So, how does an ELP stay INNOVATIVE?
- They are AWARE of their market and their environment and look for opportunities.
- They take time to think.
- They understand the importance of intuition. They “listen.”
- They document their ideas and their passing thoughts.
- They rank their ideas. They run them through a “Hell Yes!” Filter. For more on this, re-listen to April 20th’s MMPT “So Many Ideas. Where do I Start?"
- They act on those “Hell Yes” ideas immediately or save them for a more appropriate time.
- They are realistic. They understand that good ideas take time to grow.
If your desire is to be an ELP, you might want to take these 7 Characteristics of an Elite Level Producer as a guide to where you need to #levelup. Characteristic #7 is PATIENCE, the characteristic that inspired this entire series. We’ll discuss it in detail on next week’s MMPT.
In the meantime, we know that “Change is the only constant.” If you don’t consistently pivot, you will fall back to the pack even if you don’t stop doing what made you successful. Your competition will catch up if you if do not INNOVATE. If you have a weakness in your business, you either have to improve in that area or hire someone that “plays” at what you are not good at.
I am at that that point in my life where I could easily find a lane and put it on auto pilot but that’s not my role. My role is to “go to where the puck is going to be” in thought and develop those questions that need to be asked to by you. My role is to create the “HOW!” An ELP commits to a lifelong journey of thought, creation, and action. The goals might change but the process does not.
INNOVATION is not easy. There are so many reasons to stay in the status quo, but an ELITE LEVEL PRODUCER knows the importance of pushing through, climbing, or side-stepping those walls that stand in the way of their next level. Once you reach a new level of INNOVATION, it’s just like riding a bike. You wonder what the big deal was before you broke through.
Now go think! You’ll thank me later. (Thank you, Keith Cunningham, for that phrase.)
