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Close More Deals in 2024: The Secret Weapon of Real Estate Rockstars (It's Not What You Think)

No doubt we’ve all been working on our big goals for the new year and making plans for the new heights we’ll achieve in our businesses this year. We know hustle, networking, refining our pitches, and managing our time better are ways to improve our real estate investing results. But what if there was a simple, science-backed strategy that could boost your closing rate without all the extra effort?


There is! And it’s called implementation intentions.


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What are implementation intentions?


The term implementation intentions may sound complicated, but think of them as "if-then" plans for your goals. They take your general aspirations and turn them into concrete actions triggered by specific situations. For example, instead of just saying "I want to make more money in real estate this year," you might create an implementation intention like:


  • "If I see a promising property listing during my daily property searching hour, I will call the agent within 24 hours and schedule a viewing."

Why do they work?


Implementation intentions tap into the power of automaticity. By pre-defining your response to specific situations, you remove the need for conscious decision-making in the moment. This makes it less likely for distractions or procrastination to derail your progress.

Here are a few other examples of how implementation intentions can help in a real estate investing business:

  • Increase lead generation: "If it’s 9:00 am Monday through Friday, I will spend 30 minutes cold calling potential sellers."

  • Become a market expert: "If I feel overwhelmed by market analysis, I will set a timer for 20 minutes and focus solely on completing one key task, then reward myself with a short break."

  • Stay organized and productive: "If I arrive at my office, I will immediately open my project management planner and prioritize my tasks for the day."

  • Build relationships: "If I meet someone new at a networking event, I will follow up with them within 48 hours and send them a personalized message."

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How to use implementation intentions in your real estate business:


  • Identify your goals: What do you want to achieve in 2024? Buy more rentals? Close more wholesale deals? Hit higher average sales price on flips?

  • Break down your goals into specific situations: Knowing, Where, When and How you’ll take action when the trigger occurs is an important step in the process. .

  • Create "if-then" plans for each situation: What specific action will you take to move the opportunity forward? This could be making a follow-up call, sending a personalized email, or making an offer.

  • Write down your implementation intentions and keep them handy: Stick them on your desk, make a note in your phone, or write them on the first page of your daily planner. The more readily available they are, the more likely you are to use them.

Remember:

  • Keep it specific: The more specific your implementation intention, the more likely you are to follow through.

  • Focus on actionable steps: Don't just say what you want to achieve; define the exact action you will take.

  • Make it realistic: Don't overload yourself with too many intentions at once. Start with a few key goals and gradually add more as you get comfortable.

  • Track your progress: Regularly review your implementation intentions and adjust them as needed.

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Bonus tips:

  • Share your implementation intentions with a friend or accountability partner for extra motivation.

  • Use visual aids, like sticky notes or a whiteboard, to keep your intentions top of mind.

  • Celebrate your successes! Every time you follow through on an implementation intention, take a moment to acknowledge your progress.



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I believe that implementation intentions can be a powerful tool for any real estate investor who wants to take their business to the next level.  By incorporating implementation intentions into your real estate investing routine, you can bridge the gap between intention and action and turn your goals into reality.

Remember, implementation intentions are just a tool. The real magic lies in your hustle and dedication. But by using this simple strategy, you can make your actions more intentional and your results more predictable.


If you want to learn more about implementation intentions? Check out these resources:

Let's make 2024 our most successful year yet!


Best of luck!

 
 
 

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