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Is It Time For You To Start Anew??

Anyone with any form of connective brain tissue has seen that the way real estate used to be is over.  “Times”, as they say, they are a-changin’.

Correction: Times have changed!!

And, if you have any hope of moving forward and being a viable part of this ‘new’ version of real estate, then it is time to reinvent yourself.

Sure, you can cut expenses in order to help survive.  But, cutting expenses wont generate more leads.  It surely wont help you attract the right agents to your team or brokerage.  And, it definitly wont help you or your existing agents be more productive in the future. 

So, in this brave new world of existing agents trying to figure out how to survive, less people buying homes, and damage control happening at just about every level, you must figure out a way to generate more leads, become more productive, and attract the right people to help you along your journey.  Without these three key pieces of being successful, you will ultimately fail regardless of how thin you shave your budget.

With that in mind, there are several things you can consider in the process of re-inventing yourself or your brokerage to make it stronger in the future:

1.    Office size – In this world of wireless internet at just about every corner store and bistro that has a coffee maker, the size of your office really isnt that important.  Most agents are mobile anyway.  There is really no need for the huge lavish offices that agents have maintained in the past.  Sure, you might be committed to a lease, but have you thought about what you are going to do when that lease runs out?

2.    The average age in your office – Take a good look around.  If you are surrounded by a bunch of people that grew up watching “Leave it to Beaver”, you might be in trouble.  The real key to your success would be in being able to pull off a balancing act worthy of a spotlight and a Master of Ceremonies: How do you keep your seasoned professionals and top producers successful while simultaniously attracting the younger agents you will need for your future success?

3.    Speaking of “Top Producers” – Top producers are usually the ones that are more resistant to change than others.  (Why fix what has worked so well in the past, right?)  The key to that question is this: IN THE PAST!  Just because it worked well 10 years ago doesn’t mean it will work well in 10 years.  10 years ago accessing the internet with a phone was Star Trek-esque.  Now it is so common-place that we have Facebook and Twitter apps for our smartphones.  Who knows… in 10 years we will probably be able to pull up the internet in a holographic form right in front of us at any given point in time.  Give your top producers a reason to change and help them make that transition as positive as possible.  Help them get started in social media.  Show them the advantages to expanding their sphere.  After all, the future holds good things…if youre prepared for it.

4.    Where to find younger agents – Simple: Social Media!  What is your plan for using social media?  Do you have a plan for your social media marketing?  If not, you should.  And, part of that plan should be using social media sites like Twitter and Facebook to help you attract those younger agents that you need…that and expanding your sphere and getting more clients.

5.    Make it all work together – Make sure your website is fully functional, optimized (including your social media outlets), and set up to track your internet inquiries.  Doing this right will also help you with your office space issues as you will need less and less space to get your job done.

6.    Online follow-up – Speaking of online inquiries, you absolutely have to have a system in place for following up with your internet-generated leads.  NAR says that about 50% of all online inquiries are not answered.  50%!!  That is business that you are just letting go of……Can you afford to do that??  Make it a goal to follow up on your internet leads 100%.  If you can’t do that, perhaps it would be best for you to hire a virtual assistant to help you reach that goal.  Because, if you cant follow up on your internet leads, they will find someone that will.  How much money have you left on the table?? 

Im not going to sugar coat this point – Some of these are going to require an investment.  Whether that be monetary or mental, you must be willing to invest in yourself and your business if you want to survive in the future.  Either way, this investment should be viewed as such, not just an “expense”.  If you truly want to be a player in the future game of real estate, you must have these things handled.  And, you best get on it quick before someone else hungrier than you passes you by…

 

If you would like information on Real Estate Client Referrals, please give Clint a call at 800-977-7058.  Or, feel free to follow him on Twitter.

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