We work with thousands of real estate professionals (RE agents, LO's, 1031 exch agents) across the country. We have found there are 3 common mistakes most all of them make.
1) They have a tendency to "commoditize" their business. They look and to the prospect just like all the rest. Instead of finding new ways to differentiate themselves and create a USP (unique selling proposition), they use the same old sales tactics than seem to have worked for years. "Just sell yourself", "Create and develop at relationship with your clients/prospects". These are defiantly a must, but the problem is the "average" prospect had advanced in their understanding of marketing. They do their own research and shop around. They are demanding more. More service, more information and a more up-to-date look and feel.
2) Their income and success is solely dependent on the local market. If the real estate market is hot, then they make good money. If it's flat or depressed, then they struggle to even stay in business. Income and activity shouldn't be tied to the local real estate market cycle. Your "farm" market must be the entire country.
•3) No existing systems to provide re-occurring pipeline regeneration and little to no residual income opportunities. Every day you have to start over. Where will your next prospect come from? Do you know? How are you going to pay bills when there are only sellers and no buyers?
You must create and use systems. Systems are the key to long term success.
We all want more. More clients, more income and more revenue.
The problem is that all of these are end results.
The key is to focus on 5 key areas of growth.
(1) Number of Prospects
(2) closing ratio
Number of clients
(3) Number of sales
(4) Average dollar sale
(5) Profit margin
Just increasing each of the 5 key areas by just 10%
will increase your revenue by 64%
Do the numbers yourself using last years figures.
My job is to help you increase your 5 key areas with systems and ideas.
I don't charge for this, and will be happy to help you, however I do have tools available to greatly assist you in all of the 5 areas to prevent the 3 common mistakes we see professional make.
One of our tools is InvestorLINX. It is an on-line real estate market and analysis tool that tracks migration, vacancy and absorption rates, as well as price and inventory changes on a weekly basis for every zip code in the country. It will assist you in all of the areas and issues described above.
Please check out my home page here on Active Rain and my web site at http://www.sfgusa.com/.
Please call me for a free consultation at 877-428-3030