How Can a Newer Real Estate Agent Grow Their Business?

Grow Your Local Small Business

Staying Being True to Who You Are

With so many ways to grow your real estate business, no wonder so many newer agents never gain any traction or know where to start.  

Recently on my podcast, I discussed a question I get all the time. New agents or agents with little business, come to me and ask “What should they do to get more business?”

They want to know if they should have a website? Should they be going door to door? Should they be doing open houses? How about networking? Basically, asking about every type of marketing they have heard other agents mention. In the episode I share what my thoughts are for these folks who have be running into roadblocks on growing their business.

ALL METHODS CAN BE EFFECTIVE

Truth be told, all methods can be effective. We have agents in our office that are very successful at utilizing each of these methods.  Our top producer is great at cultivating past relationships. Two others do a fantastic job with open houses. We have a team that focuses on marketing the community and another team that drives their business through postcards. Then there is myself and other who use our websites. These are just a few examples of how each method can be effective.

But here is where most agents get stuck. They become overwhelmed by having to do so many different things to build their new business. So, what happens is, they end up dabbling in all of them and making zero to little progress. Eventually becoming disheartened and soon they start to give up all together. I watch it happen all of the time. Folks with lots of potential, that flame out before they can spark that fire.

NOT ALL MARKETING IDEAS WORK FOR ALL PEOPLE

You see, the problem is, the worse thing a new agent should do is, A) Attempt to tackle everything at once and B) Not realize that all these marketing ideas will not work for them.  

The reality is, all of these marketing ideas don't work for everyone. For example, if you just take open houses, I can tell you that some agents kill it on open houses and some agents do a horrible job with them. Sure, sometimes it is due to one person having a better process than the other, but I’m talking above and beyond that.

You see, open houses fit some personality types better than others. While everyone is capable of going through the motions of an open house, there are some agents that are naturals and others that will never get a single lead.

WHY IS THAT?

In some cases, it is due to the lack of energy to even be there. What potential buyers are going to be drawn to this person? Sure, they will smile and be polite, but trust me, those potential buyers will be latching on to another agent they will come across that can connect better with them.  

INTROVERTS vs EXTROVERTS

The other key factor that plays into who tends to have more success with open house are personality types. Typically, extroverts have a much better shot at connecting with these buyers than an introvert does. Why? Because it comes more naturally to them to walk up to complete strangers and just start talking. They feed off relationships so they seek them out. They don’t think twice about jumping up and greeting them at the door and talking while they look.

Introverts not so much. They prefer to say hi, look around and feel free to ask if you have any questions. While they will be polite and nice, they aren’t aggressively trying to connect to these people. Unfortunately, nice, isn’t going to get these buyers the majority of the time.

USE THE MARKETING IDEAS THAT FIT YOUR PERSONALITY

So, what works best for introverts? Well, since I am one, I can tell you that I did not build my business through those open houses. I started on day one building my website.  When I’m speaking to introverts, I often recommend they start a website for sure. They need something that folks can find to help pull them in. The problem with this marketing idea is, it takes a while to build a following. You also must make it compelling enough to cause action. To get the visitor to pick up the phone or email you.

Post cards are great for someone that doesn’t like to shake hands and kiss babies. They are a great sales tool if done consistently. Basically, if you don’t want to go to them, then bring them to you.

I do believe, real estate is more of an extrovert’s business, but introverts can build a great business if they focus on the right things. Introverts can excel at listings and extroverts excel at working with buyers.  While there are exceptions, the key is…

FOCUS ON ONE THING AND MAKE A NAME FOR YOURSELF

What do you enjoy most? Do you like going door to door? Do you enjoy open houses? Or are you just waiting around waiting for the phone to ring?

You can’t just do thing hap hazardly. You can’t do things once in a blue moon.  You need to focus all your energy into one thing and building a solid business around it. You can’t hop from one thing to another, never gaining any traction.

THE MISTAKE BUSINESS OWNERS MAKE

You need to study someone that is great at the method you want to do and mirror them. Do what they do and do it over and over to build the momentum you need.

You see, the mistake that folks make is abandoning the marketing that got them the business when they get busy and they jump from thing to thing. Just like I mentioned earlier, they never get the traction from focusing on one thing and getting really good with it and building a good, strong, solid base.

Are you guilty of this in your business? Are you dabbling in all types of marketing and yet getting nowhere? What is something that you enjoy doing? Focus on this. The more you improve your process, the more you fine tune your approach, the more you will gain traction.  More importantly, when you get busy, do not abandon it.

MY ADVICE TO NEWER REAL ESTATE AGENTS

I started this post by sharing the question I was asked, How Can A Newer Real Estate Agent Grow Their Business?  The best advice I can give is short and sweet. Discover what marketing idea fits your personality the best: websites, post cards, open houses, door to door, meet and greets, whatever it is. Get, really, really great at it. Do it over and over until it picks up traction. Have a great follow up system that you work daily.  Real estate is all about the relationships you cultivate. In can take up to 6 month or a year to get a lead converted to a client.  Finally, you MUST go to WORK each and every day. Or at least 5 days a week. You cannot grow a massively successful business by thinking you can do it in only 10 – 15 hours a week. Your phone will not ring if you don’t let folks know you even exist. You must be doing something!

So, what advice would you give a new real estate agent who is looking for the best way to drum up business?

If Interested, here is the original podcast episode I did:

Tammy