2016 BUSINESS MANAGEMENT
12 Principles of Success – Rule #3 ISIT
The single most important formula for success in your career and life can be found in the term “ISIT”.
This formula can be applied to all of the following:
- Your goals
- Overcoming obstacles
- Changing bad habits
- Your buyers
- Your sellers or listings
- Negotiating a contract to close
Let’s use your 2016 income as an example. If you have decided you want to make $200,000 in real estate during 2016, you must:
- Identify in writing that this is your goal. (Remember, if it isn’t in writing it doesn’t exist.)
- Develop a strategy by writing down where your income is going to come from, and how you expect to get the closing you need to make this amount.
- Implement your strategy, or as the Nike commercial put it: “Just Do It!”
- Track your results- If you think a strategy will work, implement it and you win. Even if your strategy isn’t successful, you win. By knowing what doesn’t work, you can modify your strategy. This gets you even closer to what will work in the future. Tracking also must be in writing, or it doesn’t exist. We all know people that continue to make the same mistakes over and over again. This is because they can rationalize their failure when they haven’t documented it.
The ISIT formula is also critical for use with your listings. As a Trusted Real Estate Advisor, you have an obligation to use ISIT with your Listings. If you aren’t using ISIT to strategically plan for success in selling their home, and it doesn’t sell, you have done your seller a disservice. Many agents argue that the fault isn’t theirs. That it’s the seller who refused to take the agents advice by, say for example, reducing the price to make it competitive. But, this is just a poor excuse. The solution to getting a price reduction and selling the listings lies in using ISIT to get the price reduction as part of the plan to sell the home.