Why would you expect that a Buyer's Agent is good at calling buyer web leads for 2-3 hours per day, showing homes to buyers, and doing closing management paperwork? Out of ten buyer's agents you have hired, how many have been really good at all three of those talents? Watch the two videos below to catch my drift.
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· Lazy Buyer's Agent - Silly Business Owner
Focus Unique Talent - Stop Buyer Agent Madness
In the same way that a full-time assistant cannot be GREAT at all of the different assistant needs in real estate, it is rare that a buyer's agent is good at everything. For our company, Best Agent Business, we have people focus on their unique talent and work on one or two talents such as the following:
· Lead Management: Good at database and systems and being organized
· Closing Management: Good real estate experience and ability to do listing and closing management.
· Marketing: Good at writing, marketing ideas, creative, and real estate marketing technology.
· Calling: Happy to call people for 2-3 hours per day and speak to strangers, get to know them, and help them with their desire to buy or sell real estate.
· Key Assistant: Great at organizing all of the above.
Do you see how a Caller is often not a Marketing Blogger and a Marketing Assistant may not be the type who enjoys doing hours of data entry and updating in Lead Management?
The power of Best Agent Business is having people focus on their unique talent so they are happy with their work mix and focus on making clients happy.
Stop Buyer Agent Madness
We believe that our Billion Dollar Agent model is better than the Buyer Agent model of having one person do calling, showing, and closing work. There are far more people available who can do a great job at calling, showing, or closing work than people who can do all three tasks with the same energy and skill.
Do you think your Buyer's Agent is able to organize and run a mailing program to mail a series of buyer marketing cards to Buyer BC leads over 6-12 months?
· Calling
o Stop hoping that your buyer's agent will actually call leads for 1-2 hours per day
o Stop pretending they are calling when you know they are not
o Stop trying to make a Showing Agent do calling work when they hate it and dread it
o Hire other people to do calling work such as in-house Callers or Best Agent Business Callers
· Showing
o Stop paying your buyer's agent $100-200/hour to spend 5-10 hours to show property for a lead which you created or gave to them.
o Hire Showing Agents at $20/hour to show buyers. We can help with recruiting, systems, and management.
· Closing
o Just like you delegated closing work as you grew, a buyer's agent who is producing should not be doing closing work themselves.
o Do you want a salesperson to be doing assistant work?
o Let your Closing Assistant (Transaction Coordinator) do all closing work for your buyer deals. Charge your buyer's agents the $150-200 needed to cover that cost or work that into your system.
o If someone is covering the 5-10 hours per deal of closing assistant work and mental interruptions, then the salesperson agent can be spending more time calling or showing buyers.
Steve's Musings
The database and lead management needs for top agents keeps getting more complex and harder, not easier. This is a huge challenge for our clients and our company. Every new system means it is more likely that leads can get lost in the shuffle. There is no magic system that does it all. Nothing even comes close. Most top teams have at least 3-4 major lead sources which are managed separately.
We have been designing an internal tool to help with greater clarity on management related to Logins. We will be implementing this in coming months. My idea relates to expanding tracking of Logins to also note monthly cost of that service, quality of leads, leads per month, how they are managed in database flow, and who is responsible and working those leads and getting new lead assignments. Most of you have 5-10 lead sources currently such as incoming email, incoming phone, 800 Phone IVR, Zillow, Trulia, Realtor.com, one or more websites, Expired/FSBO data, and more.
P.S. I am proud to share that our youngest daughter Jenna graduated from high school last week and is headed to UCLA in the fall. Anyone out there a UCLA graduate?
Like this blog? Do us a favor and “like” us on Facebook. Would you like help identifying ways you can improve your Buyer Marketing Strategy? Reply to this blog and we can get started. For more information on how Best Agent Business can help you streamline your marketing, time management and many other aspects of your Real Estate Business, subscribe to our videos, visit us at www.bestagentbusiness.com, call (202) 297-2393, or e-mail us at: sales@bestagentbusiness.com.
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