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Would you like to double your business? (Active Rain Did it in under 5 months)

By
Real Estate Agent
  • This is my first blog in a while -- I have been so busy, between clients, family, and prospects, recently, that I have neglected my readership.  I apologize to those of you who have been itching for another thought-provoking post...that said, without and further ado:

Back in March, Active Rain had 21,000 Members.

Now, less than 5 months later, (August 8th to be exact), we have reached 42,000 Members.

I would like to take this opportunity not to congratulate AR, and its members for this accomplishment, nor to take any degree of credit for the growth (although I have contributed to the public awareness of AR), but instead, I want to take a moment to ask a few questions of my fellow members:

  1. What would it take for you to double your business?
  2. What steps are you not taking now, that if you started doing now, would result in more business?
  3. What practices are you engaging in that are limiting the growth of your business?
    (Put another way, "How are you standing in your own way?)

For many of us, especially those of us who are new in our careers, doubling our business is just a start. 

I invite you to be brutally honest with yourself.  Post your responses if you like, but all I ask is that you do yourself a favor, and at least consider these questions.

Reading question #1, you might think, "I don't know!  If I knew what it would take, I would be doing it!"  While it is true that you don't know what you don't know, I am sure you know at least quantitatively what would be needed to double your business.

The immediate response to question #2 might be similar:  "I am already doing everything I can!"  Dig deeper than the immediate response.  It is highly likely that you are aware of a few things you have avoided doing that could impact your business.

If you stick it out to question #3, you might be thrown to respond with something like, "What?  I am doing what I can to grow my business!  How dare you imply I am doing anything less?"  Let's be clear.  I am not implying anything.  I am being straightforward and asserting that you are not living up to your potential.  If you were, you wouldn't be doing an exercise like this, trying to come up with a plan for doubling your business.  Capice?

The key to finding something you can take action on is the degree to which you dig deep.  Introspection, and a willingness to recognize your own weaknesses are called for.

One bit of wisdom to keep in mind as you do this excersize, is the following:

  • "Whether you think you can, or you think you can't...you are right."

 

Faith Goguen
Mattapoisett, MA

In the past few weeks I have been exploring all the opportunities online to market myself. I have jumped in full force and have tried to get my name on all the networks and listed my sites anywhere I could. I also had the idea to start a partnership with www.listingslounge.com it was created by a friend a couple of weeks ago. He had the idea of a web site for your listing. For $49 you can have your own web site for your listing. It has helped when someone calls on my listing, I can easily point them to the site like www.16mohawkdrive.com. I have been using that in my sales pitch now, a free web site for your listing. I also started to offer a buyer's rebate, so if someone uses me as a buyer's agent I give them a percentage of my commission. I started my own blog www.faithgoguen.com. Have not had any return yet, but just launched these projects. I will let you know how I make out.

Aug 08, 2007 09:51 AM
Kelly Sibilsky
Licensed Through Referral Connection, LTD. - Lake Zurich, IL

Answer to #1: I hope the activites of #2 will help me get there!

Answer to #2: I've taken the opportunity this past year to become an Accredited Buyer Representative, and by the end of the month I will be an Accredited Staging Professional. I also have signed up for Course II of my GRI (which is being offered in January). I've also re-worked my listing presentation (it kicks!), blog regularly on AR, branded my email and added featured property information to it, implemented more online posting opportunities for my listings (like AR, postlets, craigslist, etc.), I'm re-creating my postcards that I mail to my farm (every three weeks) to further strenghten my brand, started working with a mastermind group...and several other things.

Answer to #3: I'm determined to get out of my own way! Does anyone really live up to their full true potential? Aren't we continually growing? Doesn't reaching one goal simply mean it's time to set another, higher goal?

Thanks for a great post...and inspiring me to think!

Aug 08, 2007 10:05 AM
Rich Schiffer
Swarthmore, PA
Referral Agent, e-PRO

Faith -- thanks for the links.  Use caution with your buyers' rebate program, and make certain that everything is disclosed on the HUD-1.  Make sure your state laws even permit it, because as I understand it, not all do.

Kelly -- thanks for the answers, and for being inspired.  Good luck with all you are doing.

Aug 08, 2007 12:52 PM
Leigh Bates
Atlantic & Pacific Real Estate - Flower Mound, TX
The Trinity Group
This year has been much slower for me, which has led me to really evaluate why and what I should be doing differently. I have really spent a lot of time of developing my web presence, which takes time I know. I also have dug in deep to the REO and short sale market. Getting all the knowledge I can and really focusing on another aspect of my business has really begun to pay off - I'm hoping for a not so slow season this year!
Aug 09, 2007 08:06 AM
Rich Schiffer
Swarthmore, PA
Referral Agent, e-PRO

Leigh -- thanks.  I have also begun to wade into the REO and pre-foreclosure market.  Haven't ventured into short sales, but I am certain that in dealing with pre-forclosures, that beast will rear it's head.  I am learning all I can about that process now, before it becomes on-the-job training.

Aug 09, 2007 03:06 PM
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents
I am in the "growing" phase of my business and yes, doubling my current standards is in the works. I plan to step out of my comfort zone because staying "here" will always get me what I've always got. I never really liked changes and challenges and I find it hypocritical at times. But I realize in order to success, I have to do what others are not willing to do in order to get there.
Aug 09, 2007 04:23 PM
Karen Rice Keller Williams Real Est
Keller Williams Real Estate - Hawley, PA
Northeast PA & Lake Wallenpaupack Home Sales

I need to be more aggressive in answering and keeping in touch with emails.  I often leave things "hanging" when I send a response, and the volley is not returned.  I also need to have a more efficient way of keeping track of my contacts.  That would help my business immensely!

Thanks for the thought provoking post.  And hey, Hi to a fellow Weichert Realtors, Realtor!  LOL 

Aug 09, 2007 05:35 PM
Cyndee Haydon
Charles Rutenberg Realty - Clearwater, FL
727-710-8035 Clearwater, Beach Short Sales Luxury Condos &Homes
Rich - too much for me at this late hour - but glad things are going well for you 5 months later. 
Aug 09, 2007 05:50 PM
Nancy Means
Re/Max East-West - Elmhurst, IL
I started out in the Best market, where you would get 2-3 calls a day just on your sign. Now Reality hit. I realized I had no systems in place. So I stopped selling or I guess you would say...stopped chasing the business. I now implemented systems. I do 500 postcards to my farm area. Everyday before I go to my desk I pull down all expired and call the ones I can get numbers for, or drive to doors of the ones I can't call. I put together a new presentation book and also made a separate book for FBSO that I keep in my car and drop off when ever I see a by owner. I then follow up with mail to them on all the homes that have gotten contracts. I attend any all seminar that can benefit. All my past clients get 4 mail around's year. Every-time I go on a listing appt I bring a small gift and then a card that says thank you for your time. I plan On getting. I pan on getting one credited degree a year. I am now treating it like a business and so far the results are starting to come in.  
Aug 09, 2007 06:02 PM
Fran Gatti
RE/MAX Integrity - Medford, OR
Managing Principal Broker - RE/MAX Integrity

Rich,

Good to have you back.  I was beginning to worry.

 

Aug 10, 2007 03:15 AM
Rich Schiffer
Swarthmore, PA
Referral Agent, e-PRO

Yoreena -- stepping out of the comfort zone, as you put it will help you grow in more ways than you can pedict right now.  I stepped out by selecting to work at an office outside of my immediate home area.  That way, I forced myself to actually get to know the market, the neighborhoods, etc.  Instead of just relying on what I "already knew" which had only gotten me to where I already was. 

Karen --  One thing I can recommend, as a step to help you follow up with emails that you have sent, is to mail them to yourself, also.  Include your own email in the BCC field.  That way, you will get a copy of your message in your inbox, as a reminder that you have something to follow up with.

Cyndee -- I understand.  This is not an excersize to be dont lightly, nor while the brain is not ready to engage in the inquiry fully.  I hope, when you have had a chance to wrap your brain around it, you will post a follow up response.

Nancy -- A Systematic approach is always good.  Remember, though -- you must not only plan your work, but you must work your plan, as well. 

Fran -- It is nice to be missed.  I will try to keep pace with my readers expectations...

Aug 10, 2007 03:59 AM
Rick Grand
nowhere - Eugene, OR
it is definitely interesting to see AR get so large. I remember when I first signed up there weren't many people and to be honest I didn't spend much time on here myself. I'm glad it has flourished and more people are utilizing the great tool that it is. I, of course, would love to double my business in 5 months. If that happened life sure would be nice! haha. I am slowly working on that by taking different steps so eventually I will get there.
Aug 11, 2007 03:28 AM
Rich Schiffer
Swarthmore, PA
Referral Agent, e-PRO
Rick - the synergy that exists when you contribute to the conversations with other like-minded individuals is great.  Even those that are not "like-minded" serve to forward the conversation, and there is much to be learned from diverse points of view.  Good luck to you.
Aug 11, 2007 03:54 AM
Lizette Fitzpatrick
Lizette Realty - Richmond KY - Lexington, KY
Lizette Realty, Lexington KY MLS - Kentucky Homes
I've come a long way since I started in real estate. I have always been full time and live and breathe it every day. My best idea is to write my newsletter each week and mail it to 250+ clients. They forward it on to many more. It does get my name out there as some sort of "expert". Probably the only local Realtor that sends them something every week. (Most send a calendar magnet at Christmas). Later even if they haven't met me, my name might stick in their head as someone to call when they have a question about real estate. 
Aug 11, 2007 07:54 AM
Rich Schiffer
Swarthmore, PA
Referral Agent, e-PRO
Lizette -- that is a very creative and "outside the box" idea.  I suggest that you go a step further, and post your weekly newsletter on Active Rain.  Email a link to it to your list.  Thay way, not only will they see your post, but the rest of the world can too.  You will also have an archive of all your "back issues" so people who want more information can read more.
Aug 11, 2007 11:38 PM