The most important part of a real estate agent's job is Lead Generation and from what I can tell, too few agents treat it like it's the most important. I don't want to belittle the importance of client care, negotiating, keeping deals together, and the slew of other tasks we do on a daily basis. However, lead generation is the one compenent of our real estate career that will ensure that we remain in the business for years to come.
In this vein, the best real estate agents seem to be spending one to three hours a day on prospecting (ie lead generation). Even spending one hour per day on this can be difficult if you don't prioritize your day properly. Therefore, I'd like to share with you three tips for running a successful real estate business.
1. Lead generate for a minimum of one to three hours a day. Lead generation is defined as picking up the phone or visiting your sphere of influence. You must make verbal contact and you must do it every single day. That's not to say that passive prospecting (mailers, emails, and the like) won't work, they just won't work as quickly as one on one verbal communication.
2. Do your lead generation before you do anything else each morning. Most of us get to work and we start checking emails and voicemails. The next thing you know it's 5:00 and you haven't lead generated at all! Since lead generation is your absolute priority as a real estate business person you must place it first on your to do list each morning. Spend the one to three hours lead generating and THEN check your emails and voicemails. You can afford to let your day fly by if you've already completed your prospecting for the day.
3. My last piece of advice regarding lead generation is to continuoulsy concentrate on the ACTIVITY of lead generation and NOT on the RESULTS. If you spend one to three hours a day prospecting for business you will survive this market just fine. The problem is that sometimes weeks will go by where your lead generating does not seem to be turning into dollars. This is where some real estate agents tend to cut down on the prospecting activity because they don't see an immediate reward. This is why you MUST always ONLY concentrate on doing the ACTIVITY of prospecting regardless of day to day results. The RESULTS WILL COME. Those that lead generate consistently demonstrate a nice steady flow of income throughout the year.
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