To thrive in real estate you need some diversity in how you acquire your business.
Become too dependent upon any one source and you can find yourself trying to drink from a dry pipe.
For awhile short sales and bank foreclosures were the name of the game. Some agents feasted big time on the glut of distressed properties. Today as our market has rebounded, very few home sellers need to contemplate a short sale. And the newspaper pages devoted to required advertising of pending foreclosures has shrunk significantly. The agents that didn't prepare for the shift are hurting now.
There are many ways to keep your business pipeline filling:
Of course past clients are some of the best for providing future business either as they return for another round, or they send you potential clients. They know you, they know how you do business, so do things right and there's a cornucopia of potential (providing you stay in touch).
Direct mail, especially targeted mailings work if done right.
Social media can also work. Facebook, Instagram, Pinterest, pick your venue, they have potential if you have the personality and the willingness.
Blogging is working the long game. It's not a quick fix, but steadily applied with the right topics blogging can provide a steady supply to your pipeline. And if you can develop a reputation in a niche, that supply can be even bigger.
Websites. LOVE how our IDX pages attract buyers, and typically buyers that are closer to acting when they reach out.
Doorknocking and cold calling. It's not for everyone (us included), but there are those that swear by them.
Open houses and more open houses. Again, not for everyone, but there's business to be gained.
Pay for it. Some are quite successful with paying for leads, but you better have the systems (and the time) to make sure you follow up or you'll be another claiming "online leads suck!".
Not to be forgotten, just plain getting out in public and letting people know what you do. A couple of years ago I went to a hockey game with some engineering coworkers. A conversation there has turned into a long term relationship as someone's go to agent. It'll be a purchase and a sale, all because I decided to take a night off and have some fun!
And another "of course"? Be consistent. Very few of these methods work as a one and done technique. It's work applying your expertise across multiple methods. And once something is working, DON'T STOP. I can't count the number of times I've heard someone say "I got too busy to blog...and then I wasn't busy anymore". So even if not at the same rate as initially needed to establish a presence, keep at it.
Until next Tuesday, just Ask An Ambassador if you need help!
Bill of Liz and Bill aka BLiz
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