As many people get caught up in the holidays - Halloween, Thanksgiving & Christmas - not to mention New Years Eve and New Year's Day, what you find a lot of Realtors doing is to temporarily shut their business down. I think this is a huge mistake. With unemployment numbers being over 7% - many homeowners have had to come to the conclusion that now is the time to sell their house or wait until the new administration (or current administration) does something different.
Here are my 2013 Ways to Grow Your Business for 2013
1. Social Media - If you have no idea what Facebook or Twitter is then you are probably just waking up from a very long hard sleep. Cost of Facebook = FREE. Cost of Twitter = FREE.
2. One New Listing Per Week. If you are a lister, then you will understand and appreciate this idea. One listing per week generates 52 New Listings per year. If you are a monkey and can only close 50% of those listings (hopefully your closing rate is higher) then that gives you 26 Closing JUST from listings per year. If the average sales price is $200,000 then your commissions based on 3% would be = $156,000 or an average of $13,000 per month.
3. 2 Buyers Per Listing. Take your Listing number from #2 (52) and assume that you only pick up 2 buyers - 2 actual buyers per listing. 52 Listings X 2 buyers = 104 Buyers BUT only half of those buyers actually pull the trigger and buy a house. That gives you 52 Buyers for the year. Assume that these buyers are downsizing and they buy an average of $150,000 per buyer. 52 X 150,000 = $7,800,000 x 3% commission = $234,000 or $19,500 per month.
4. Lead Generation - Put on your calender everyday that you are going to prospect for 2 hours per day. DO NOT make any other appointments because THIS IS YOUR APPOINTMENT. What I see most people do is that they quite prospecting and they are only worried about today. Let's assume that you only generate 1 new buyer per month from Networking Groups, taking a client to breakfast, meeting a client for coffee etc. - that one new buyer that you acquired buyers another $150,000 house ( I know in some parts of the world this is a really low number for a purchase price ) but let's be conservative! $150,000 X 1 per month = $54,000 or $4500 per month.
5. Time off - WHAT ? WHO HAS TIME TO TAKE OFF?!?!?! You do! Imagine how productive you will be as you are taking time off to think of people that you can call. Brain Storming. Spending time with family. Taking care of you! You will be surprised how much better your attitude will be with those crazy buyers who want to look at another 30 houses for the 5th time or the stubborn seller who doesn't want to clean the house before the next showing.
6 Blogging - When was the last time you called the Editor of a newspaper or magazine and asked them if you could submit an article. What good does that do ? It makes you more creative and you are now the expert on your topic because someone printed your article in their paper or magazine.
7. YouTube - With over 500 million viewers per month - do you have a YouTube page to post your listings or information. Did you know that Google gives you a URL for every video that you post on YouTube ? Do you know what happens when you have your information plastered about neighborhoods, buyer, sellers, funny stuff etc ?
Now let's add the income from doing some of these.
Listings - $156,000
Buyers - $234,000
Lead Generation - $54,000
Total Income = $444,000 - not bad if you have a plan.
You can either fail to plan OR you can plan to fail!
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