Doug Hannan, Managing Broker at Royal LePage Meadowtowne Realty in the Toronto area is a well-known and respected veteran in the real estate industry.
Besides running a highly productive real estate office of 80 agents, Doug is also the only Canadian coach for Tom Ferry YourCoach, one of North America’s leading real estate coaching and training companies. With well over 15,000 individual coaching sessions under his belt, Doug has helped his own agents at Royal LePage Meadowtowne as well as his Tom Ferry coaching clients achieve extraordinary success.
Having also built a successful real estate team from 1989 to 2005 before getting into coaching and management, Doug knows what it’s like to be in the trenches.
Did I mention that Doug is also a huge advocate of IXACT Contact’s real estate contact management software?
IXACT Contact recently sat down with Doug for a special Q&A blog post. “This business isn’t rocket science. If you have a few basic disciplines, some good systems, and the passion to succeed, you’re off to the races!” he says.
IXACT Contact: Hi Doug. Thanks for meeting with us today. What do you find to be the biggest challenge for REALTORS® in their business?
Doug Hannan: For most, I believe it’s living with an unpredictable, inconsistent stream of incoming business. Whether they’re newbies or many years in the business having earned hundreds of thousands of dollars annually, this happens in all production levels. There are too many agents flying by the seat of their pants.
IXACT Contact: Do you think a real estate contact management system is key to agents’ success?
Doug Hannan: I think it’s one of the MOST important things for agents. Our “book of business” is our database. Without it, we have nothing. In this business you need to be constantly looking for ways to generate new business while following up with your real estate leads.
More importantly, you need to maintain a relationship with your past clients and sphere of influence (SOI). How can you possibly do that without a real estate contact management system? Sorry, my short answer is that it’s a no-brainer!
IXACT Contact: Ha ha. Well how can we not agree with that?!
You have had an amazing real estate sales career. What has been the “secret” to your success?
Doug Hannan: A few things:
- Get in the office early and put in a full day of income producing work.
- Treat the other agents in the marketplace like you’d like to be treated yourself, regardless of how they may behave. Nothing is more valuable than your reputation.
- Constantly follow-up with your clients during and after the transaction is done. This is one thing many agents tend to ignore.
IXACT Contact: Those are great tips. We always say that hard work, passion, and having the right follow-up systems in place are instrumental to being a successful REALTOR®.
What’s your take on building a business based on referrals? How can agents do this?
Doug Hannan: Repeat clients and referrals should always be a major source as you build a business. Start with a good real estate contact management system. Mail them something four to twelve times per year. Email them something interesting once per month (such as a monthly real estate newsletter that can be sent from IXACT Contact). Speak with them in person or on the phone at least four times per year.
Every agent I know who does this well has a great business. Every agent I meet who is struggling doesn’t do this well. It’s as simple as that.
IXACT Contact: What’s one piece of advice you give to new Realtors?
Doug Hannan: This job isn’t easy. If you’re not willing to learn while putting in the time and effort, forget it.
IXACT Contact: We have to ask: what’s your take on IXACT Contact?
Doug Hannan: I really like it and use it myself a lot. It’s simple, effective, and very cost efficient. I insist every new agent who joins my office use it if they don’t already have something comparable in place. And you offer new agents six months free – that’s unheard of!
IXACT Contact: We’re glad to hear that!
When you’re not thinking and talking real estate, what do you enjoy doing on your time off?
Doug Hannan: We have a cottage and I love going up there and puttering around. I never stop working even when I should be relaxing. It’s a curse!
IXACT Contact: Thanks so much for taking the time to chat with us, Doug. We appreciate the insight you’ve shared with us today!
Doug Hannan: My pleasure.