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Ten easy fixes for your broken business. Just DO it.

By
Services for Real Estate Pros with ha media group

[POST UPDATED]

This post is inspired by Broker Bryant

My apologies for the title.  I don’t know if your business is broken or if you perceive it as such, but since you are now reading it, I’ll assume that it could be better.

This post is my experiment in keeping things simple for once, as I am told most of you don’t have the time or the patience to wade through dissecting so many words to glean one or two nuggets of wisdom.  So here goes my ten-step program for anyone who is either ballsy enough or desperate enough to implement it, nuggets only.

 

that's what most of you are going to do when you read this post

Image courtesy Web Marketing Therapy

1.      Define your market.  Chances are no matter what area you serve you will never be the agent or lender of choice for everybody.  Figure out which niche(s) you are best suited to serve, and then jot down a small psychological profile of the kinds of people those niches attract.  This is step one for a reason – you MUST know who you are speaking to in order to draft your message.

2.      Make a choice to IGNORE your competition.  For as long as you are chasing someone with more listings or closings in your market, you will NEVER be the alpha dog.  You will always be two steps behind.  In addition, worrying about the bigger fish is a rather sad way to conduct your business.

3.      Take a good look at all your stuff.  In simple terms that includes everything out there in the world, whether real or virtual, with your name on it.  Now that you did that, would you, as a CONSUMER hire you, or would you move on to the next professional?

4.       Chances of you being entirely happy with everything you looked at in step 3 are nil  (if you are happy with everything, find another blog to read - you are done here).  Now, prioritize things you can afford to improve on, both financially and time wise, and draft a plan of attack.

5.      Write down everything you’ve ever done to get business and mark items that didn’t result in anything off that list.  If these include any services you are paying for – shut them down.  Of course this step will take actually knowing how to analyze results of your marketing and promotional efforts, but I am sure there are plenty of blogs on the subject, and I am trying to keep this short.

6.      Revamp the items in “5” that DID produce results to see if you can increase their effectiveness.  Yes, this is easier said than done, but hopefully, you’ve just saved yourself a few bucks and certainly some time by cutting out all the things that didn’t do anything for your business, so now you can devote more resources to stuff that, at the very least, has the potential of working.

7.      Track EVERYTHING you do.  Most of you have heard about tracking, but few do it in any meaningful way.  Anyone who has a website without analytics installed is working in the dark.  If you send out any direct mail but don’t log results to specific campaigns, you’re throwing crap against the wall, hoping it sticks.  Simply creating an Excel file where each marketing endeavor is named and tracking your efforts there will give you a resource for planning each future promotion.

8.      Set your budget based on something more than a guess.  So many marketing budgets are based on an arbitrary number.  Examples of arbitrary: money you have available at the moment, a percentage of anticipated or past sales, what the successful guy or gal at a competing office spent last year or a sum of last night’s lottery numbers.  Your REAL budget should be based solidly on actual costs of implementing things in step 6.

9.      Save your time and energy and STOP reading marketing books.  They will NOT teach you how to market yourself.  The only way you will ever learn it is by doing it.  No textbook in the world, no matter how many bestseller lists it's on, will help you appropriately define your niche, and suddenly grow a talent for saying just the right thing in just the right way to get to your consumers.

10  Unless endowed with exceptional graphic sense and an instinctive knowledge of what will work for your consumers, hire a professional to help you make your stuff look good, or at least consistent.  Clip Art is so last century.  Fonts that come by default with your MS Office install do NOT convey the right message, and any time you put out a half-baked image of yourself out there, no matter how unique – you are taken less seriously as a professional who's supposed to be capable of marketing someone’s home.  Looking fantastic on the net and on paper still matters, no matter what the gurus say, unless your niche is selling ugly homes to blind people, and then you are fine.

So there you have it.  If any of this is still confusing, pick up the phone and I’ll walk you through it, within reason. 

[PLEASE READ MY COMMENT AT #46 BEFORE HITTING THAT SUBSCRIBE TO BUTTON OR IMPLEMENTING ANY OF THESE STEPS]

For those who do not know me, and in the interest of full disclosure, I own a marketing company, and would love it if you hired us to help you implement some of these fixes.  We do good work, or so our clients tell us (read the Kudos here), and from what we hear, we are pretty fun.

Comments (72)

Sharon Paxson
Sharon Paxson, Realtor® EQTY Forbes Global Properties - Newport Beach, CA
Newport Beach Real Estate

Hi Ina - good post and comments as well here. Gary had a good c omment about ignoring certain clients.

Sep 08, 2010 04:50 AM
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Loved it!... particularly #2 which no one ever mentions in a negative, only a positive.

If you asked me who my competition is, I would have to think all night because I don't know the answer...so, I am good on #2 and #1...

#7 and #8 I am worse than "just bad"...thank you for reminding me and making me feel like I need to be working on it instead of doing lunch.

Eve in Orlando

Sep 08, 2010 05:04 AM
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

Are we giving any credit to Nike here for the pun? Great advice!

Sep 08, 2010 05:11 AM
Vicki Lloyd
The Lloyd Realty Group - San Diego, CA
(619)452-9798, Real Estate San Diego California

This is a great inspiration!  I already have a long list of "never gonna dos" so I'm now working on my list of most effective tasks.  Thanks!

Sep 08, 2010 05:29 AM
Inna Hardison
ha media group - Orlando, FL
Wordpress for Real Estate & Design, Print HaMedia Group

Brent and Deb - but why 'head down' ?

My Susan - I know, and you are right, of course.  :-)

Melissa Z - Good point on Nike not getting credit.  Thanks for noting.

Broker Bryant - I don't bite - when I do, it backfires.  Story of my life.

My sweet Tanya - thanks for the much needed kick in the derriere.  MWA-

J. Phillip - yes indeed.  I am glad that anyone found any of this useful, I really am.

Sep 08, 2010 05:58 AM
Aaron Vaughn 830-358-0455
Conifer Builders LLC - Canyon Lake, TX

Inna: Can I get an, "AMEN!" No? Why not? You deserve it for this succinct post. Easy to read, too. Thanks!

Sep 08, 2010 07:21 AM
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Great post -- deservedly a featured one.    Good reading for all of us, too!

Sep 08, 2010 07:34 AM
Ann Cummings
RE/MAX Shoreline - NH and Maine - Portsmouth, NH
Portsmouth NH Real Estate Preferrable Agent

Hi Inna - while you wrote this post on a bet, and you say there's 'nary an original thought' in it, the way you wrote about each point apparently caused a lot of us to actually think about each one of them.  None of these are original thoughts, as you wrote, however the way you explained each one was great. 

I'm part of a team, a new one at that, and we're in the process of doing most of the steps you've outlined.  We've both been in the business a long time, and we're looking at all we do very constructively so we can take the things we do that work and improve upon them, and letting go of things we feel don't work.  And as you suggested in your last point, we already have a meeting set up to work with a professional to help us improve on the tools we're going to keep.

Good points you made, even if on a bet!  ;-)

Ann

Sep 08, 2010 08:07 AM
Inna Hardison
ha media group - Orlando, FL
Wordpress for Real Estate & Design, Print HaMedia Group

Agent Aaron - my pleasure.  I guess I should do this more often:-)

Ann - first of all - congrats!!!! I won't begrudge you having found any of these useful, not at all.  And I am thrilled that you decided to go the professional route with number 10.  It definitely should make a difference.

Thank you for reading this, and delving in:-)

To everyone - I didn't mean to ignore your comments. My apologies.  Eveything that was worth saying has been said.  I do appreciate that you took the time to read this and if any of this helps you - I am a happy camper.  My intent with this post should have no effect on any positive outcomes for any body.

 

Sep 08, 2010 09:41 AM
"The Lovely Wife" The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

I love that feed...

However, I don't love it enough to pay for it. I'm cheap :)

TLW...ROAR!

Sep 08, 2010 09:56 AM
Inna Hardison
ha media group - Orlando, FL
Wordpress for Real Estate & Design, Print HaMedia Group

Lovely - it's a freebie.:-)

Sep 08, 2010 10:01 AM
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Inna,  This post was a great read and the comment thread was informative also.  I liked your # 2 !  I also tell new people who style themselves after me that " One of me is enough  ! "

Sep 08, 2010 10:04 AM
"The Lovely Wife" The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

But only...

For 10 days. Who'd you bribe to get it without the mthly fee? :)

TLW...ROAR!

Sep 08, 2010 10:09 AM
Inna Hardison
ha media group - Orlando, FL
Wordpress for Real Estate & Design, Print HaMedia Group

hmmm, no idea.  When I grabbed it - there was no fee mentioned.  They certainly don't have a way of charging me for it...

Sep 08, 2010 10:11 AM
Bill Travis
Captain Bill Realty, LLC - Gilbert, AZ
Broker/Owner

Great suggestions, and timely for me because I had already begun working in that direction.

I've looked at where I had success in marketing before and plan to go back to that. it It was fairly expensive, but it more than paid for itself. So I'm doing preliminary work to get PR before that project begins in January.

There is a tremendous amount of work I have to do, and I'm gearing up to do it.

One of the first steps is getting my brokers license, and today is the last class. Should have all the tests completed within 2 weeks. (2 school tests and 1 state exam)

Sep 10, 2010 04:02 AM
Inna Hardison
ha media group - Orlando, FL
Wordpress for Real Estate & Design, Print HaMedia Group

Bill - sounds like you are on the right track... Good luck.

Sep 10, 2010 11:30 AM
Brenda Mullen
RE/MAX Associates - San Antonio, TX
Your San Antonio TX Real Estate Agent!!

Inna-I subscribed to you before I even read this blog.  This is still some great advice and even though it isn't easy, it is a good ideal to pick up, dust off and clean up the ole business/marketing plan. Love your cartoon by the way as it speaks volumes :)!

Sep 11, 2010 09:51 AM
Inna Hardison
ha media group - Orlando, FL
Wordpress for Real Estate & Design, Print HaMedia Group

Brenda - sorry for the belated.  I am always glad for new subscribers, but I must warn you - this post is very much NOT in keeping with my usual fare.:-)

PS: Great commentary by you on Loreena's recent post.

Sep 12, 2010 12:46 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Inna!  Just now getting around to a few of my favorite bloggers these last few days--finally settling in with my Mac after a couple of weeks of pure hell!

You know I have to share my opinion for what it's worth!  With regards to #2, I do want to know what my competition is doing, ESPECIALLY if their volume is higher than mine!  If you ever get a chance to read, Mastery, you'll see what I mean.  Many folks are 'jealous' of their competition but, if you embrace them and emulate the things that they are doing that will help you boost your business, incorporate those things into YOUR business.  I took those words and put them to use as part of my business plan!  They help me set my 'gauge,' if you will, especially if they're in my same niche!  My goal is to leap-frog one or more a year!

As for your #4, LOL!  No way could I stop at #3--heck, I've only just begun to set everything in motion to see that everything with my name on it is exactly what I would want to see as a consumer and you've really been helpful in getting that part of my business on track.  

And, can I have two or three niches?  I ask that because, for example, I am a friend to many, a wife to one AND a mother of two--three totally different roles in life.  I can cater to the young professionals, assisting them in our Uptown condo market (as though they are my children!), the family members (clients--not really family) who are 'moving up' into the luxury market and the friends who are buying in the middle market.  Not to mention, consider  the many years that I've been in the area; I've landed in the different markets just by virtue of osmosis--living, playing and working in each of those areas!  Just curious as to your thoughts on that!

Sep 16, 2010 05:20 PM
Brenda Mullen
RE/MAX Associates - San Antonio, TX
Your San Antonio TX Real Estate Agent!!

Hi Inna-You and a couple of others are why I felt the need to comment and why I subscribed to your blogs.  I am glad you got to read it.

Sep 17, 2010 12:48 PM