094: Strategies for Successful Business Planning in the New Year: Part 1 with Matthew Rathbun

We are so glad you joined us to help you start your new year! This episode’s guest is Matthew Rathbun. Matthew will be discussing business suggestions, strategies, and ideas to help you make your plans for success in 2024. This is the first part of a series on Business Planning with Matthew this month. The second part will launch later this month.

 

[2:55] Matthew is the EVP of a Coldwell Banker company with 10 or 11 offices in the D.C.-Maryland-Virginia area.

 

[3:40] Matthew started teaching and has been teaching ever since. He is currently the president-elect for the Real Estate Business Institute, a good partner for CRD, providing lots of education to agents.

 

[4:20] There has been attrition in the industry. A lot of agents are not seeing a lot of production right now. When you plan for next year, you have to base it on reality.

[5:33] We are knowledge workers more than salespeople. The buyer hires you as a buyer’s agent for what you know. How do you provide clarity on your value as a buyer’s agent?

 

[7:00] A knowledge worker will say, “I know the market, what my capabilities are, and what my consumer base is and I’m going to build a strategic plan.”

 

[7:37] You can be a knowledge worker to your consumers and demonstrate that value to them. You can use your knowledge and say, “I’m the CEO of me.”

 

[9:21] What are we changing for 2024? Agents need to be much more precise with their goals to be able to look back and see what they’ve accomplished and why this is a good career for them.

 

[11:12] Matthew goes over tips and tools on how to interject your goals. Substantial industry changes are coming but most of our chaos is controllable.

 

[13:00] You’re controlling whatever chaos you can. Putting systems in place is so important. “You do not rise to the level of your goals, you fall to the level of your systems.” — James Clear

 

[15:48] With industry changes, Matthew says training will be a core part of any successful agent’s business.

 

[18:33]. Change is good. A bad change can be corrected to something better. Have a healthy mindset on addressing change. Lean into change and what it means.

 

[23:06] It’s time to add to your listing kit and improve the buyer consultation kit on your website. Market your value proposition for buyers. Matthew discusses what to do in the next 30 to 90 days.

 

[25:45] Agents need a better consumer persona. Who do you want to work with? Just saying you want to work