You know real estate in your target area like the back of your hand. But, we all know that means very little if you have zero, zip, zilch home seller or buyer prospects. If your leads pipeline seems to have dried up like a biscuit nuked in the microwave, "then let's add some butter, honey", said in my southern girl twang.
Many of us will say, "no thanks" to bread that is plain and dry, especially when we have other choices to eat. Likewise, being "Plain-Jane" in business in 2017 means what you are doing is dry, you will likely not stand out, and your voice will get lost in the crowd, especially in the burgeoning real estate sales arena. That is a big mistake.
Plain and Dry Mistake #1: Not Thinking About Follow-Up First
Catch and release fishing allows fish to be captured, then unhooked, and returned to the water. That is seen by some as good for conservation. On the other hand, "catch and release lead generation" is good for growing other people's pockets (O.P.P.) and no I'm not down with O.P.P.! "Catch and release lead generation" is what I call you spending time, energy, money, or other resources capturing prospective clients, to only unhook them by not following up, and return them to the sea of other real estate sales people. Lead generation becomes a waste for your business.
Add Some Butter:
If you are hungry, a dry biscuit will do. Unfortunately, if you are new, returning, or struggling in real estate sales, you may feel like this plain and dry mistake is okay. It is not. Stop right where you are. Take at least the next day (two or three) and identify how you will keep in touch with every lead. If you are into technology, a CRM (customer relationship management) app like WiseAgent or LionDesk may be great for you. Or, you trusty Excel spreadsheet. If it works for you, fine -- use it. However, the key is that you must know before you get the lead, what your process to stay in touch will be.
Here are some guidelines no matter the type of system you use:
Plain and Dry Mistake #2: Not Doing at Least 3-5 Lead-Gen. Activities
You really like doing ____ (fill in the blank with your favorite activity to find new business). So you only do that one thing. Houston, we have a problem! Have you ever heard, "don't put all your eggs in one basket"? (All my analogies today feature food... I guess I need to have lunch.) Diversification in your lead generation methods is key but do not take just my word for it. For my doctoral dissertation (a.k.a. really long research paper), I was able to scientifically study some of the 1,000 top producing real estate salespeople in the nation. Yes, this is the crew selling $30 Million in sales volume seemingly effortlessly. Here's one thing that I found (see the book, Profit with Your Personality for more findings from these elite salespeople): ALL of them had at least 5 lead generation methods they used simultaneously. So if you are wondering why your income may have plateaued, you may not have enough diversification.
Add Some Butter:
Take this complimentary Leads Survey to get a pulse on what you are doing and what you can and should add to your lead generation strategy.
Plain and Dry Mistake #3: Not Always Adding Value
Harassment. That is what it feels like when someone calls, emails, visits, DM, or texts me unsolicited, trying to cram their agenda into my already busy life. None of us want to feel that way. On the other hand, if I go to a store and the sales clerk entices me something of value (such as complimentary samples, information on today's discounts/sales, etc.), then I am more likely to hear her out, take her up on her offer, and buy more than I came into the store to get (how'd I spend that much!?). The difference? Giving people items of value (also known as lead magnets) with EACH connection that makes them glad to give you their contact information and hear from you again, eventually becoming either a client, fan, or both.
Add Some Butter:
With each touch you make, how can you add a relevant item of value for prospects? Here are some ideas to help your creative juices flow:
Plain and Dry Mistake #4: Being a Lone Ranger
One of my favorite sayings is, "No man is an island, entire of itself" by John Donne. In order for many of us to reach the champion level of lead generation activities that will give us our goal income, we need help. Trying to juggle zillions of tasks means we will likely end up burned out, drop a few (or several) of the things we are desperately juggling, or miss once-in-a-lifetime, irreplaceable moments with our family and friends.
Add Some Butter:
You may not have the capacity to take on a full or part-time assistant but we all can use virtual assistants (VAs). With services like Upwork or TheVAHub.com (courtesy of the dynamic Christian Ross, managing broker of Atlanta Tech Village's Village Realty who personally uses this service), you can have tasks completed for you for just a couple of dollars an hour. Literally -- no exaggeration! If cost has been holding you back from getting help, then try these two asap.
Want my worksheet (complimentary) from the business planning workshop I lead that can help you hire your first VA? Message me and it's yours!
Sound off - I would love to hear from you! Give me a shout on Facebook, Instagram, YouTube, and Google+ or by visiting LearnWithLee.Realtor.
Want more of the best practices of our nation's top producers? Grab your copy of the short read, Profit with Your Personality and, the classic, 5-star rated workbook, Plan to Win, to transform their real estate sales game plan. Here's to your success! #LearnWithLee