The four P’s of success in real estate - professionalism, preparation, prospecting and persistence.
Professionalism is simple – it’s a lot of little things with a few big ones as well and when you think of professionalism, you can apply the “Golden Rule” to you daily routine. To be professional in our business you need to portray the right image – start by dressing for success. You don’t need to wear custom made suits but dress appropriately for the business. Another simple task is to return other agent phone calls, emails and texts. A little communication is better than no communication and many times it will take you very little time to take the effort. Have an “elevator” speech of what you do and how you do it in the business to get more business. Attend trainings – once a week for one hour to learn more about the business. Be on time for appointments – it requires you to be organized and have a schedule but it is so important in portraying a professional image. When networking on social media outlets – only post items that you want your clients to see – not things your mother would be ashamed of seeing. More eyes than you know see what you post – make it professional. Be courteous, say please and thank you. This one is the easiest of all; leave a business card when you show a house – vacant or occupied. Now, for the bigger ones, professionalism also requires you know the contracts, the processes, trends and the market. These take time but are requirements for success. Every minute you put into these areas of the business, you will reap huge rewards. Your clients expect and demand that you know these integral details of our business. Many times they research and test you to see what you know or don’t know. Show you‘re the best by excelling in professionalism.
The next p – preparation is very important to success. Areas to prepare for in our business include buyer and seller presentations, handling objections, knowing your numbers, the market’s numbers and your competition’s numbers. Prepare yourself for your presentations by researching your clients on social networks, Google and by asking your referral source for more details. By learning more about who you are working with sets you apart from others in the business. As we mentioned, have an elevator speech of what you do for people and why. You need to be prepared to speak with people at your next cocktail party, the bus stop, and kids’ games or at the grocery store. People love to talk about real estate so be prepared to speak about your service, your neighborhood, the market or your niche. Lastly, it is important to know who you are competing with when you give a presentation – learn their numbers and use them to your advantage when you get in front of your customers.
Everything previously mentioned is a mute point if you don’t have clients. Therefore, it is critical to prospect. Prospecting includes business to business networking, joint advertising, expanding your database, marketing and meeting with your past clients, and by being involved in associations, schools, kid’s sports and so much more. It has been said in the past, sales is a contact sport. You need to make the time to get face to face, and belly to belly with people if you are going to be successful in real estate. You have to have a plan of action and follow it to generate leads and therefore, build your business. Develop a niche and pursue clients to fill that niche – first time buyers, foreclosures, short sales, referral based – whatever works for you – just do it – prospect.
You must be persistent in your efforts to get results. Don’t become a master of one and done – go and get it done with persistent efforts. Be persistent in your education, research, marketing, planning, business development, and networking. Persistence pays. Don’t give up, don’t ever give up!
The four P’s will take you far in our business. Keep your professionalism, preparation, prospecting and persistence top of mind to build your business success. Get it? Got it? Good!
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