We hope you enjoy the recording! (RECAP BELOW)
According to the National Association of Realtors, the average that an agent out there, makes today in this hot marketplace is about $39,000 gross. Imagine taking care of your family on that budget, let alone run a business with that amount! That's cutting it a bit too close with little room for comfort. Now imagine earning over 8x the national average, roughly $336,698, now with that kind of income you and your family can live a comfortable life and you can definitely push your business further. The possibilites are endless, but that's just the problem, if you keep dreaming and imagining the possibilities you'll most likely remain at the national average range. The question is how can you step up your game and what actions can you take to reach that $336,698 average?!
To answer that question, ActiveRain University held another sucessfull real estate education webinar on Wednesday, May 25, 2016 entitled, "High Tech or High Touch - Winning Strategies for Today's Real Estate Market". In this webinar, our very own Community Evangelist, Bob Stewart, hosted Buffini & Company Master Trainer, J'aime Nowak, who has been a leading force in the real estate industry for over two decades. Having seen the real estate industry from multiple angles (having had great success as an agent then as a broker) she joined Buffini in 2004 and since then has trained thousands of agents in North America on how to build a profitable business and a prosperous life. Not only is she a Master Trainer she is also a premiere presenter at exclusive events world wide, which was readily apparent during the hour and 15-minute that she spent sharing her varied experiences and extensive knowledge in real estate.
Bob and J'aime kicked off the webinar with the usual introductions and how J'aime practically came from realty royalty. She then shared a photo of when she was starting out as well as her own struggles as a newbie in real estate and more importantly how she first met Brian Buffini, more than 20 years ago when he was practically a nobody, and how he drastically changed her real estate career with his great system. From an agent with practically no leads and not even two nickels to rub together to a member of a team doing 100 deals a year and then moving on to running a highly-profitable real estate office with 146 fired-up professionals and helping them double their business every year; J'aime has definitely walked in your shoes wherever you are in your real estate career.
J'aime and Bob then went on to discuss the agent's annual gross income versus that of a Buffini One2One Coaching member (mentioned above), and along with the different systems that you need to put in place to get to that level. However, before getting to the systems, we have to understand the reasons why agents struggle which are:
- Not knowing where the next lead is coming from
- Not being able to stand out amongst the competition
- Not having the skill set for today's market
After identifying the areas where agents struggled they went on to discuss how to play the Game of Real Estate (not to be confused with the show with dragons). One of the things that J'aime stressed was generating leads through the relational way which we all know as the referrals. One truth that she has learned in her business and thousands of other people's businesses, is that there are more than enough leads for you to have with the people you know and the people that they know, IF you systematize it, if you educate them and if you do it right!
To generate leads, the first thing that needs to be done is acquire relationships, which can be done in a variety of ways and quite easily. The hard part comes from maintaining these relationships and then prioritizing these relationships. The greatest mistake agents make occur in these three steps, thinking that they no longer need to build relationships, thinking that contacting a person once a year is enough, and staying in contact with the wrong people.
The remainder of the webinar focused on tackling the different systems that you can put in place to systematize how you acquire new relationships and how you can put yourself in the radar and be the agent they send their referrals to. Among these are:
- The Mayor Campaign Dialogue
- Mails, Calls, E-Connects
- Sending Personal Letters/Notes
While we're not going to discuss each and everyone of these in the recap, you might be interested to know that these involve condiments that have gotten an agent 9 referrals worth $66,229 in commissions, ice cream scoopers that generated 16 referrals, and popcorn that make your CRM pop with referrals. If you want to learn more, watch the recording!
J'aime ended with some interesting statistics just to show how important consistency and persistence is when it comes to sales.
- 48% of sales people never follow-up with a prospect
- 25% make a second contact and stop
- 12% only make three contacts and stop
- Only 10% make more than three contacts
These numbers make more sense when paired with another set of statistics which is When do people buy or refer?
- 2% of sales are made on the first contact
- 3% are made on the second contact
- 5% are made on the third contact
- 10% are made on the fourth contact
- 80% are made on 5th to 12th contact
That means a whopping 80% of referral business and sales go to only 10% of agents willing to stay connected with their prospects. Are you part of that 10% or will you continue to fight for that meager slice of pie?
As is the tradition with all ActiveRain University webinars, J'aime was kind enough to take some extended time for Q&As and if you have any further questions you can reach the Buffini & Company team at 800-945-3485 x 4 or go their website buffiniandcompany.com to learn more about their different product offerings such as Buffini's CRM Referral Maker, the Buffini Success Tour and their newest event MAR Tech Trends! In the true spirit of ActiveRain giving: if you register today and use the keyword: ACTIVE, you can get all sorts of discounts so go and check out their offerings today!