Is your real estate business in a stall?
Feel like putting the blame on slow markets, the economy, or your own company? Here are eight ways to get things going FAST:
•1. Use active, rather than passive or reactive marketing techniques to build your business. •2. Focus on "right now" business. •3. Prospect Expired's and FSBOs. •4. Call at least five of your past clients and/or people in your sphere of influence today. •5. Get attached to giving best possible customer service to every person you work with rather than being attached to the outcome. •6. Know your market area cold. •7. Build your business around your passion. •8. Get out of the office and talk to people about real estate. Good Luck and Lots of Success in your Real Estate Career. Here's a motivational Clip to Keep and watch whenever you need a boost Copyright © 2008 By Fred Carver All Rights Reserved ' 8 Ways to Boost Your Business For The New Year Oh, By The Way...whenever you come across people who are thinking about buying or selling a home in Victoria and would appreciate the same level of service I provide my clients, please forward their name and telephone number to me. I will gladly follow up and offer them the high-quality service for them and put you down for a referral!
Passive techniques include any real estate activity where you wait for the business to come to you, i.e. floor time, open house, or farming by mail with no personal contact. Open house and/or mailing, when followed up with phone calls or an in-person contact, are active.
Take each of your current leads and categorize them as "red hot" (will do business with me in the next seven days), "hot" (will do business in the next 30 days), "warm" (will do business with me in the next 30-90 days) or "cool" (may do business in 90 days). Your "right now" business are the two hot categories. Focus your attention on your hot leads and turning your warm leads into hot leads. You may keep in touch with your cool leads by calling once every few weeks, but don't waste your valuable time showing them properties or doing CMAs. Instead, focus on getting your hot leads under contract and converting warm leads into hot leads.
Like it or not, other than referrals, these are two primary sources for "right now" business. If you're nervous about competing for recently expired listings, prospect expired's that are 60-90 days old. These individuals are probably still interested in selling.
Follow up with a handwritten note reminding them you build your business through referrals. Rather than having to constantly prospect for new leads, it's much easier to keep in contact with those who have done business with you in the past or who have referred you business. Make a point of contacting them personally at least four times a year. Also, be sure to send them some sort of written material once monthly whether it's an e-mail newsletter or a postcard letting them know you appreciate them. When they do give you a referral, send them a thank you note immediately, as well as a small token of your appreciation.
In other words, your role as an agent is to provide your buyers and sellers with the best information and resources possible. You're not attached to whether or not they list or sell. Instead, you want them to make the best decision possible. It's OK if they ultimately end up not selling or buying. If you provide the best service possible, they not only want to do business with you, they will also want to refer their friends as well.
Sellers and buyers often choose who represents them based upon how active an agent is in their given area. They're seeking an agent who can tell them exactly what's on the market in their price range, knows where to find the best deals, as well as the benefits and drawbacks of different locations. Become the expert in at least one segment of the market, whether it's working with probate, farming a specific geographical area, or targeting people from a specific profession.
If you like cooking, make special treats to give to people you would like to have as part of your referral base. If you love to golf, spend time on the golf course to meet people who share your passion. Instead of forcing yourself to make cold calls or knock on doors, do something you love where you can meet others. People who are passionate about what they do are naturally attractive to others.
For example, go have lunch by yourself and sit at the counter. Strike up a conversation with the person next to you. Walk your dog and make sure you're wearing your something that shows you're in real estate. If you walk slowly or sit down, people will walk up to you and start a conversation just to pet the dog.
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