If you break down the top three things that will dramatically affect your real estate career, they are Leads, Listings and Leverage. Leads give you the ability to gain clients. Listings give you inventory to cultivate contracts and buyers with. Leverage makes it easier for you to get more of the other two, and gives you the ability to ENJOY the life you are creating through your highly successful real estate business, or at least enjoy a cup of coffee once in a while.
Simply put, leverage is multiplying your ability to get things done. It would be ideal if you could just replicate yourself a couple times, and designate one of yourselves to marketing, one to client relations, one to data entry, and so forth. Unfortunately, after extensive research, I have concluded that human replication is not possible yet. Ok, so I actually was watching the twenty-four hour Trekkie marathon on the Sci-Fi channel, but who's counting?
Leverage may come in many forms, but it can most easily be broken down into two primary components: technology and people.
Leverage through technology is perhaps the first method that the majority of agents turn to as their business grows. You can leverage your abilities through software such as Top Producer, Goldmine or ACT. The MLS systems that we use often include database software that enables us to make automatic contact with clients about prospective homes. Marketing may be done virtually, such as e-mail drip campaigns that run hands-free after the initial setup, or websites that allow you to mail to hundreds of prospects at the touch of a button.
Equally important are the benefits that leverage through people offers. Many agents are concerned that they will hire the wrong person, and that is a well-founded concern. A top agent will invest time and money into finding the right person for the job. Perhaps the worst hire you can make is a good hire. If you want talent, find GREAT talent. Good talent is just enough to get the job done, but great talent takes you above and beyond your expectations.
Don't be afraid to start a team. Most agents who utilize the services of an assistant will tell you that they should have hired that person much sooner. A great assistant will only INCREASE your income, because they will free you up from the day-to-day tasks and allow you to concentrate on lead generation.
For a detailed look at leveraging your business, with special emphasis on leveraging through people, I recommend that everyone associated with real estate read "The Millionaire Real Estate Agent" by Gary Keller. The book targets leverage in an easy to follow manner that walks you from the day that you got your license in the mail, to the moment that you net one million dollars a year. My copy is a bit dog-eared, from my constant referencing. You can get it on Amazon or at most book stores. If you're an agent here in my market (Greenville, SC), just let me know and I might be able to get you one for free.
That's all for now. Have a wonderful week, and stay cool (at least we were under 100 today!).
Bill
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