You’ve probably heard the saying “you have to spend money to make money.” While it is indeed true that in order for your business to grow, you need to invest in it. When we say invest, it doesn’t necessarily mean simply financial investment. Your time and effort is a huge part of that investment as well. In the video below, Toby Salgado of Super Agents Live, talks to Daniel Ramsey co-founder and owner of MyOutDesk about cost and quality when it comes to your Real Estate leads. Click on the image below to watch the video.
Toby suggests applying asset management or the portfolio theory to your business. You need to take a look at your sales model and make sure that your funnel is not lopsided. Meaning that you don’t want to focus on one channel or put all your eggs in one basket. What you want to achieve is balance. For example, having a balance between three major markets, Luxury, mid-market and entry market, if you expend equal amounts of money and time on each branch, ideally, regardless of the trends and climate of the Real Estate industry, your business will not suffer, because you have been putting forth equal time and money investments in each one. Your Real Estate Leads should be treated the same way.
He also states that there are two major components in any Real Estate business. Lead generation and time management. First you figure out your sources for leads, and once you find them, you then need to figure out how to manage your time to convert those leads into clients.
According to Toby, an important step might be to categorize your leads in order to strike that balance.
Here are some examples of categories you may want to use:
- Offline Leads
- Online leads
- Free Leads
- Paid Leads
And one outlier which is:
- Referrals
If you find that in your market or area, that you have more categories or sources Toby suggests that you have at least five and no more than nine or ten. Regardless of the category, you are always paying for your leads; you are either paying for them or working for them. Now the key here is to look at your lead sources and their value, and figuring out which ones you need to invest your money in and which ones you need to invest more of your time.
A MyOutDesk real estate virtual assistant can be a huge asset to you and your business in 3 major areas: Marketing, Administration and Prospecting. Call us today for your free, no-obligation consultation and find out how we can help you! Call 800.583.9950 or email sales@myoutdesk.com today!
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