Many agents dislike the fact that this time of year, their managers ask them to develop a plan to give them a rough idea of their numbers for next year, so they can budget. Many managers really take the time to review their agents' plans and help them establish worthy goals and an action plan to accomplish those goals. On the other hand, there are many, many agents who don't have a plan. I am consistently surprised when I ask in class, "How many of you have a business plan?" Only about 20% of agents raise their hand. You are the CEO of your own business; you are responsible for the success or failure of your business. To be in business and not have a plan just doesn't work: Hope is NOT a marketing strategy!
Here are some tips from one of the most effective planners I know, Staci Dancey- one of the top agents featured in "Make the Move."
Staci is a wonderful role model for those agents who got into real estate to make more money and have more time to live the life they envisioned. She works 4 days a week and has almost doubled her income every year since she began. Staci is adamant about goal setting and the value of establishing a business plan and sticking to it. In developing her business plan, she always looks at the volume of business she's done the year before.
"I break that down into where it came from. You know, if you don't understand where your business came from, you won't know how to recreate it.
It's always been a numbers game. If you want to increase the odds of your success, you have to increase your numbers. You know that it takes so many ‘touches' or leads to get an appointment. Then you need a certain number of appointments in order to get a listing. Once you have a listing, you need many appointments to generate the sale, and many sales to earn a certain dollar number. The greater the numbers, the greater your odds of success."
Staci is steadfast in her commitment to time management and is not at all reluctant to suggest that some tasks are better performed by someone else.
"I always have had assistants," she says. "I've always realized that if you don't have an assistant, you are the assistant."
Have a great Thanksgiving holiday. We all have much to be thankful for.
Right after the Thanksgiving holiday, I'll provide you with some additional tips on planning from another featured agent.
Before I move onto some of the other agents featured in the book, I thought I'd add a few other comments from Donna Harris. Here is Donna, in her own words.
"I have grown my database with the Internet leads I have purchased. NAR says nationally the number (of Internet consumers) is 87 percent. I'd rather spend my marketing dollars online.
I also input my past clients into my database and my sphere of influence - actually everyone I meet or who contacts me. I have grown my database to over 3,500 prospects and clients since I started keeping track in 2004. I put them all on automatic drip e-mail campaigns.
Then, in 2006, I decided to start blogging for additional exposure. I knew that people were online, so I wanted to be there with them. Marketing is cyclical. People used to cold call, farm neighborhoods, and have magazine ads. Now almost every publication is online, because that's where consumers are searching.
Blogging provides national exposure, primarily Active Rain and Blogger.com. Search engines really like Active Rain and Active Rain handles all of the back end for you.
Consumers want information. If you provide relevant information consistently about an area - localism - you show up on the front page of the search engines."
Donna is one of the most effective bloggers I know. Donna consistently provides valuable info to her consumers. Google her...you'll find her right on top!
In my last blog, I mentioned that I would share some excerpts from my new book, “Make the Move.” Here is a preview of the cover- what do you think?
The premise of “Make the Move” is to help agents who have not mastered online marketing and systematized their business using Internet tools. The goal is to help them migrate their business online. My goal is to provide you with the information I have learned over the past 7 years teaching Internet marketing and technology training to agents and brokers. I will also share with you the best and brightest ideas of the top agents across North America. They have generously shared their ideas. We have all learned from one another.
So today, let’s start with one of the Top Agents featured in the book- someone many of you already know, Donna Harris, as an Active Rain Rainmaker. Donna generously shared how she started an online business and how she now generates nearly 100% of her business online.
Donna’s consistent blogging and the online presence that she has developed has generated high search engine ranking, Internet leads, provided a real service to her customers and allowed her to prospect painlessly.
Here’s how to work with Internet consumers in Donna’s own words:
“Working with Internet leads is different from working with the traditional consumers. You have to understand how to work with Internet consumers versus traditional consumers. The typical open house buyer, you get to meet. There is no anonymity. You know they are real, same with a sign call. You have the opportunity to talk with them. The Internet buyer, however, is just searching online. They may click on a pop-up without thinking about it. They insert their criteria; they are casually looking. You never know their actual price range. They still have anonymity; you need to follow-up differently. You can’t push. You don’t know their motivation. You need to stay in touch in a less invasive manner. Targeted drip e-mail campaigns work well for this. This just provides a way to stay in touch without constantly bugging them for an appointment.”
NEXT BLOG- I’ll share how Donna grew her database to over 3,500 prospects. Now that the book is almost ready- you’ll be able to find it on my website in about 1 month- my future blogs will contain smart tips from the book garnered over the past 7 years as an Internet marketing innovator and some of the very best ideas from the Top Agents featured in the book, who so generously share their expertise.
Now that the deluge has begun again, I look back on this summer. This was one of the most incredible summers we have ever had in Seattle. We actually had a summer! One of my favorite one-liners is, “Welcome to the Seattle Rain Festival, Sept through June.” During this wonderful summer, where we had a record number of days over 80 degrees and no rain for almost 4 months, I made a move to Port Ludlow on Hood Canal.
Having moved from downtown Bellevue, this more rural environment is so delightful. Everyday feels like I am on vacation: the air is redolent with the smell of salt water and pine trees. I have deer in my backyard. I am living in Paradise- actually, on Paradise Bay. The move was very beneficial in terms of lifestyle. When I commute, now it is by ferry boat vs. on congested freeways and bridges.
Making a move to enhance a lifestyle or to be closer to family or work can be so rewarding.
Now think of how rewarding it would be to make move (a lifestyle enhancement) for work- your real estate profession.
Can you imagine automating more of your work so you can do more in less time? I can. I have. Many agents have started using more technology. Really most agents have, at least to some degree: online forms, syndicating listings, digital photos and virtual tours of listings, email, etc. What about other enhancements? Are you migrating more of your prospecting and follow-up online? There are specific tools that will allow you to market yourself and your listings online. Many of them are FREE. Are you taking advantage of all of the FREE or cost-effective tools that are available to help you build relationships with more people than ever before? Have you created an E-farm - a database of prospects, clients and past clients that you provide valuable information to in order to position yourself as their real estate resource?
This summer with my move, I spent time writing a book on how to build your business online. I have included some examples from top agents across the country, who have built a database of literally thousands. Their business has not suffered in the downturn. The book includes: planning, online prospecting, managing a large database, using tech tools and building relationships using social media. It is called, “Make the Move- How to Move Your Real Estate Business Online.” I will have it available on my website within a month. My goal is to help you make it to the top! I will share excerpts from “Make the Move” in the following blogs.
Since I started Base Camp about 1 ½ years ago and have been teaching live classes, I have noticed a real need for some tools to help agents organize their business.
When we discuss business planning in class, only about 1/4 - 1/3 of the agents in class have written business plans. Of those agents who do have plans, only about 50% of those agents have broken down their plans into how many prospects they need to accomplish their financial goals. Many agents stop their planning at how much money they want to make and how many transactions they need.
On the Real Estate Base Camp web site, we have placed a FREE, downloadable calculator to help agents determine how many prospects they need to reach their goals.
Go to: www.rebasecamp.com
Click on “The Right Tools for the Job”
Click on Products and download the calculator
We also have a Business Plan that you can purchase for a nominal fee if you don’t have a good template for your annual business plan. Many of the top agents begin their planning process in November to jump start their next year.
The other tool that is missing is a budget. Often, I will ask in class, “How many of you know how much money you have made year to date?” Truly, about ½ of the agents in class can tell me. The next question seems more of a challenge. When I ask, “How many of you know how much money you have spent on marketing year to date?” almost no one knows! You really want to run your business like a business. You also want to be able to know what kind of results your marketing dollars are yielding-what’s working and what’s not. There is a FREE sample budget on our web site that you can download and use. I would also encourage you to use analytics to measure your results. Google has very effective and FREE analytics tools.
Let us know how helpful you find the tools. We are committed to helping you make it to the top!
Seattle King County Association of Realtors and Real Estate Base Camp sponsored another great panel, featuring Matt Heinz (Pres. of Heinz Marketing), Rhonda Porter (CMPS and top producer for Mortgage Master) and David Gibbons (Dir, of Community Relations for Zillow). They each shared their areas of expertise- Matt on Marketing, Rhonda on blogging, and David on technology. The panel took questions from the audience. The panel advice wasn't limited to their areas of expertise. They were all so versatile and shared ideas on how to use technology, social media and marketing ideas to grow your business. They were all so generous, smart and very witty!
The biggest take-away from each panelist was:
Matt- know your customer. Social Media isn't effective if your customers aren't online. Know what they want and how to deliver the information in the way they'd like to receive it.
Rhonda- provide relevant information that will help your customers, potential customers and client be well informed and comfortable making decisions about real estate. If you provide value, consumers will get in contact with you to do business .
David- while everyone is excited about the newest technology and social media trends, it is important to remember that technology is just a tool to build relationships. It is vital to build the relationship. Technology merely makes it easier to build relationships with more people than ever before.
It was so valuable to hear from experts who are affiliated with our industry, so they understand it - yet who also bring their perspective. Often, we in real estate, tend to get myopic and lose focus on what is happening around us.
One of the prospecting ideas that agents have used so effectively over the years is to send out an e-newsletter to their entire database wishing them a happy 4th of July and providing some tips to help ensure that the day is safe and fun. You could also post these same tips on your blog. Many people know what they need to do, but based on the fact that there are literally thousands of children, pets and adults hurt every year the safety tips are always a good reminder. You can obtain ideas for safety tips just by “Googling” the topic. The SPCA has some excellent tips for pet lovers like, “Never use fireworks around pets! While exposure to lit fireworks can potentially result in severe burns and/or trauma to the face and paws of curious pets, even unused fireworks can pose a danger. Many types contain potentially toxic substances, including potassium nitrate, arsenic and other heavy metals.” The tips don’t all have to be dire warnings. There are some excellent tips for alternate ways to celebrate. For example Lisa Holt, RN, MS offered this suggestion, “Try offering glow sticks as a safer, non-toxic alternative to sparklers this year.” Sparklers get hot enough to melt gold (1800*F). They are not safe in the hands of young children. Another excellent site for tips is the National Council on Fireworks Safety. Their mission is to educate the public. They have many safety tips such as:
“Always have water handy. (A hose or bucket).
Only use fireworks as intended. Don't try to alter them or combine them.
Never relight a "dud" firework. Wait 20 minutes and then soak it in a bucket of water.
Use common sense. Spectators should keep a safe distance from the shooter and the shooter should wear safety glasses.
Alcohol and fireworks do not mix. Have a "designated shooter."
Wherever you find the safety tips (perhaps you even have a few of your own) write up a short paragraph or two, list the tips and wish your database a fun holiday. This is just one more way to stay in front of your past clients, sphere, neighbors and prospects. It lets them know you care.
It is great to see more sold signs around town! Many agents are telling me that the market is picking up. It seems the tax credit for first time buyers is helping, the prices and of course the interest rates. At Gary Keller’s seminar which I mentioned a while ago, he shared the stats that 50% of the 2009 transactions are to first time buyers. First time buyers have usually started the recoveries of the past. Then the transactions move up the food chain. Is that what you are seeing as well?
While teaching a class in Yakima for the Yakima Association of Realtors, one of the agents showed me the SOLD signs many of the agents over there are using. Thought you would enjoy seeing what they are using as much as I did:
I attended a seminar presented by Gary Keller last week. It was exceptional. There were so many things that resonated with the entire audience. The special take-aways for me were:
• The quote by Peter Marshall presented by Gary Keller: "Diamonds are made under pressure"
• This is a defining moment in the marketplace and therefore in our careers: It needs to be the era of extra effort- average won't cut it. Choose the results you want; then match your effort.
• Twice as many sales get made before noon. Prospect in the morning.
• Use time blocking: How you spend your time is how you spend your life. Block your time to achieve your desired results. The amount of money you make is a direct result of how you spend your time.
• Learn and use scripts- you have to know what to say: when you prospect, when people ask you, "How's the market?" And, learn and use scripts when you are handling objections.
• Last year first time homebuyers comprised 41% of all of the purchases. That percent will probably rise to 50% this year. They are a great target market.
This info was just a glimpse of the information and ideas shared to help agents SHIFT their business to become more successful in today's market. I really liked the fact that Gary Keller mentioned: today, the biggest focus needs to be on lead generation.
We need to have a good attitude regardless of the economy!
Here are 10 bad attitude busters:
1. Smile. Duh! No Really! Just smile. You'll be amazed at how much better you feel and the difference in the reaction you'll get from others.
2. Do something nice for someone else. It ALWAYS makes you feel better. Help a co-worker by holding an Open House or help your elderly neighbor in with his/her groceries. Volunteer to bring the cookies to the kid's soccer game.
3. Do something nice for yourself. As Realtors we are really good at doing for others, but not very good at doing something for us. Our generous nature sets us apart. It may also keep us from paying attention to what we need/want. Get in that last run on the slopes; see the new Animal Planet movie; have a manicure/pedicure or a facial. Sit and relax for 1 hour with a good book.
4. Call your past clients. They think you are great.
5. Get some exercise- any kind: a walk, running, swimming, Pilates, Yoga, Salsa dancing... This is a key ingredient in your happiness factor.
6. Get together with friends and family. Make the time. It is vital. When you see yourself reflected back in the eyes of people who love you, it strengthens you.
7. Don't listen to so much news. It really can be depressing.
8. Listen to good music. It is uplifting.
9. Don't hang around with negative people. If your office has negative people in it, tune out or don't send more than a few minutes there. If your friends are negative, for now don't spend as much time with them. Find positive people to reinforce your approach to the world.
10. Take a minute to list the things you are grateful for.
Remember:
"Life is not about waiting for the storms to pass... it's about learning how to dance in the rain!" anon
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.