What is the rule of five? Well, the rule of five was something that author and speaker John Maxwell came up with.

And what John came up with was this idea that if you have a big task at hand, something you really gotta get done and it can seem overwhelming or just completely out of your reach, how do you make that happen? Despite what might seem like overwhelming odds?

Well, he used the rule of five.

And the rule of five is simply this:

Imagine that that goal is a tree in your backyard. And you have one tool that you can use to cut down that tree: an ax. And so you go outside and every morning you take that ax and you swing it as hard as you can, three times into that tree. And then you put the ax down, you go back inside, and you wait for the next day to come. And the next morning you do it again. And again, and again.

Now, we would all agree that eventually that tree's gonna fall down. No matter how big the tree, it's gonna topple...

I'm gonna give you some numbers that are just reality in our business that you should know. And these numbers are going to drive your success throughout your career — whether you like it or not.

Are you ready for these numbers? Here they are:

They may be slightly different for every person, but in general, across the country, here's what the numbers look like in our industry:

* For every 30 conversations you have, you'll average one closed transaction.

And I want you to remember this:

Almost every single transaction you will ever have in your career will be the result of a conversation you've had in the last two weeks. You want more closings? You're gonna have to have more conversations.

Here's another one:

* For every 10 sphere members you have in your database today, you should average one closing — assuming that you've made 20 to 50 contacts with them in the past year.

20 to 50 contacts will get you a 10 to 1 closing...

What is your power base?

Have you ever heard that term before? Well, your power base is a measurement and it's a great measurement that all of us should understand and really work towards improving over the course of the next 12 months.

So here's what it is:

It's the amount of sales your database is producing every year per member. So I'm going to give you an example to kind of put this in perspective:

Let's say you have a guy named John. John's a realtor has been in the business for years. Let's say John sold 22 homes last year. And his database size was 232. So we had 232 people on his database, created 22 closed signs last year. He can simply divide the 232 by 22 and this gives him his power base number, which is 10.5.

What does that mean? That means for every 10 and a half people in his database, he's averaging one closed sale.

What's the national average?

It's about 10. So if you're doing 10 and a half, your database...

This time of year, a lot of people start thinking about pivoting — making a fundamental change in their business strategy. That's a good idea, because if you want to have that 90 degree turn in your business, you need to think about what you can do to actually make that a reality.

Not just talk about it, but actually make it a reality.

I'm gonna give you five quick points that I've learned over the years that can really help you have a successful pivot in your business and make fundamental change happen for you.

1. Mental toughness

This is underrated, but how many of us have started new year's resolutions with the best of intentions, but then falling apart within 30 days? We’ve all been guilty of that (myself included).

So mental toughness, getting your mind, your body, your spirit in alignment with that decision and saying, I'm not just doing this today or tomorrow or next day or next week, I'm doing it for...

I want to turn you on to a book that was recently recommended to me called "Atomic Habits." If you haven't listened to it, it's a fantastic book by James Clear. And it gives powerful insights on how to build habits and actually get rid of habits that are holding you back.

One of the things that he mentioned in the book, which has really resonated with me is this idea of "being in motion" versus "being in action."

Being in motion means that you are planning, strategizing, and preparing to take action, right? There's a lot of agents that are really good at being in motion — but they never actually move up to being in action.

Being in action means you're actually doing the steps necessary to hit your desired outcome.

Now, the difference here between being in motion versus being in action is that when you're in motion, you're not taking a risk. Which is why so many agents get trapped in this space.

You're not risking...

For my recent Birthday my wife bought me a trip to raft the Wild and Scenic section of the Rogue River. This is a guided trip where we stop at lodges along the way and they serve dinner and breakfast - so not exactly roughing it - but still an adventure.

When we set out on the trip we were told that cell phones would stop working almost immediately, there is no wi-fi, tv, or phones at any of the lodges, and no amount of crying about it will fix it - you are going without communication to the outside world for three days.

I kind of shrugged it off - set all my platforms to out of office, recorded my voice mail messages explaining the situation, and figured it would be the ultimate way to get away from it all.

The truth is I felt way, way more anxious about it then I thought I would. When I checked my phone on our first lunch break 12 texts and about 40 emails had come in just during the first hour on the river that we still had service (none of which I could respond to). What would...

Now that we have arrived in July it's time to do a six month review of your performance. By reviewing your numbers you can get a clear picture of your businesses trajectory.

This simple exercise can identify what's working, what isn't' working, and where to adjust your strategy. Your mid year results are the culmination of all of your time, work, and marketing investments, it is also reflection of your follow up skills, your presentation materials, and your ability to stay consistent.

Watch this video for a complete breakdown of how to conduct your mid year review!

To build achievable goals for 2020 you need to first understand what happened in 2019. Why? Looking at your past performance can provide clarity on the areas of your business that can be improved, modified, or completely overhauled. 

Without taking time to reflect on your past performance it becomes very easy to repeat the same performance year after year. This is exactly why many agents become "range bound" meaning they bounce around at about the same level of production for years.  

To have a business transformation in 2020 you should review these key numbers from 2019 - start by printing all your closed transaction from the MLS then using a calculator determine your: 

• Average Sales Price
• Average DOM (Days on Market) for Listings
• Average Difference Between List VS Sales
• Buyer Sides VS Seller Sides
• Client Genesis
• Extra Credit: Listings Taken VS Listings Sold
• Extra Credit: You VS The Market

Watch the video for a quick explanation of each of these key numbers....

What chair you are sitting in can change your career...

The chair isn't your favorite living room lazy-boy, it's a figurative chair. As thought leader and real estate industry innovator Howard Chung explains all of us are sitting in one of three chairs at any given moment: 

1) The Operator Chair - Daily business activities...

2) The Executive Chair - Long term planning and strategy...

3) The Life Chair - Personal time, rest and relaxation... 

During the interview we also discuss the power of to-do lists. Savvy agents embrace the concept that in addition (and maybe more important)  to a start doing list for 2020 is a stop doing list. These are the items that can negatively impact your business, your health, and your relationships that need to be removed from your business and your life. 

Do you need more leads, more listings, more buyers, and more closings? 

Explore Mastery Classes:

• Open House Mastery 
• For Sale by Owner Mastery
• Expired Listing...

How big does your real estate database need to be to hit your goals over the next 12 months? 

If you don't know the answer to this question it's highly likely you will have a difficult time hitting your target.  The Power-Base formula can answer this question and it can give you two clear paths to more profitability. What is your Power-Base? It is a factor for how many people in your database are required to create once closed transaction. 

Watch and learn as Jim explains the Power-Base formula in just over 3 minutes while  providing you two easy ways you can use your number to net more commission income over the twelve months.  

Do you need more leads, more listings, more buyers, and more closings? 

Explore Mastery Classes:

• Open House Mastery 
• For Sale by Owner Mastery
• Expired Listing Mastery
• Sphere of Influence Mastery

Weekly Coaching Program: 

• The Path Performance Coaching Platform

 About Jim Remley:

Jim Remley is...