I’ve heard it said that most of your business in Real Estate can come from 25 people that surround you. If that is so, why don’t we just go find these 25 people and take them out for a drink, share our plan, and ask for their business? It is so easy to chase the next new thing in the business of Real Estate, thinking it will work better than the last. Many hop on the idea that in order to compete, you must come up with a new and better mousetrap. The grass is greener where it is watered in my opinion.
I am a firm believer in multiple food sources. In our business, that might look like email drip campaigns, lead generation through your website, and referrals. These three seem to be the most common yet more and more there is emphasis being placed on lead generation from the internet and less personal interaction. I again believe you have to have several lines in the water if you are going to maximize your “catch” potential. Before you head out fishing though, you need to know what you are fishing for. Relying solely on the internet can limit your business and leave it vulnerable.
New agents often are inundated with initial training, technology and tools to help them learn the business quickly. They have so many ideas and strategies being thrown at them from their manager and what they read on the internet that they simply start running at 100mph without first putting on their running shoes. Whether you are new, emerging or experienced in this business, you have to have a plan. It is important to first learn the fundamental basics of Real Estate, and then sample every aspect so you can determine what fits your personality. Create and follow a plan based on your style.
A good plan must include a strategy of what demographic you are going after and how you are going to reach them. How do they think, what are their needs and how do I reach them. It is again like fishing; if you know there is a hot spot where the fish hang out in a particular lake, you go directly for the hot spot, put on the right bait and drop a few lines. With our business, once you determine your food sources, you can create a plan that gives you the best chance of getting their attention, and eating!
The wheel of life is made up of many spokes including spiritual, health, family, work, recreation and so on. So should your wheel of Real Estate have spokes, and each spoke should drive revenue to the hub, which are you and your family. One of these spokes you can only find at EXIT Realty, the Residual spoke. Including this spoke in your plan can offer you freedom through additional income that flows to you like an unending river. It can provide you with income in the event of an emergency, into retirement and ultimately for your loved ones after you pass. Often it shows up just when you really need it.
Anyone can start from now and make a brand new ending. If you are looking for another food source, don’t overlook the obvious one right in front of you. Ask yourself, if I was forced to stop working tomorrow because of an emergency, do I have enough food sources feeding my family? If you haven’t already, take the time now to create your plan, identify your food sources, set up a system to reach them, and ACT on your plan.
Make it a great month!