I met with two different Realtors last week who were new to the business. They both asked how they can create a value proposition and “get noticed” as a new real estate agent. This is what I call the “rub” as a new real estate agent. It’s fairly easy to obtain a real estate license, but things become far more challenging after your license comes in the mail. Every new real estate agent gets excited for their venture and has grand ideas about dominating the market and making a lot of money. Then comes the reality of learning the other side of the business. Marketing strategies, advertisement, building a business, SOI, and learning online and social media tactics to get noticed. Getting noticed in a field of many can be difficult without hard work and a strong value proposition. Let’s talk about first steps to success.
Does this sound familiar? “I want to do a successful first time home buyer seminar!” Then no one shows up, or you get two people. What happened? Marketing happened…better yet, the lack of it. Your intentions were great, the presentation was full proof. You just need to get butts in seats. That is where you fell short. It’s not easy to set up and execute a successful first time home buyer seminar…but it can be done. When I talk to my clients about doing the important steps below they sometimes have push back or think they can get a good result doing just part of it. Yes, that can happen but I have seen too many upset agents and lenders when the event day came and very little showed up. Here are what I feel are the key steps to getting qualified sign ups and attendees.
If you own an iPhone or any Apple product you know that they come out with “updates” for IOS software that makes the technology possible. Each time you update the IOS software your phone gets new and cool additions that weren’t there before. Sometimes these changes are big, other times they are small. Either way, if you NEVER update the software, eventually the applications on your phone will no longer become compatible and work correctly…or at all. I think that is very much the same as it applies to Realtors and their real estate database and overall business. As an agent, if you aren’t updating your business and database, eventually it also becomes stale and outdated. Think…when is the last time you sat down and went through your entire real estate database and updated it? Are you still doing the same marketing tactics you were doing 5-10yrs ago? Are you getting the same result? Here are some steps to take to update your real estate business and move forward to a successful 2017 and beyond.
Ever hear the saying–“If you don’t have an assistant, you are one?” The longer I stay in the Title Business/Real Estate I believe this is true. Delegation. This is a scary word for many, especially for people who have hard time “letting go” and trusting others with their business. In today’s real estate world, delegation is a must. As busy Realtors sooooo much to do and a lot of it doesn’t involve the actual act of helping someone buy or sell a home. You might be nodding your head “Yes” right now. When prioritizing your real estate business, what tasks do you give to others, and what should you be doing yourself? Lets chat about this and how you can break through to the next level of real estate production and get more things done!
Let’s start off with a statistic. Roughly only 5.6% of all real estate leads covert to clients on the first phone interaction or meeting. Very low number. That doesn’t mean that the other 94.4% of the people don’t buy or sell real estate over time (they do) but with conversion numbers so low it is easy for a real estate agent to give up early in the process and move on to lower hanging fruit. I don’t necessarily fault agents for doing that as your time is important, but I can tell you from experience…you are leaving money on the table. Lots of it. As a Title Sales Rep, it is very similar as we talk to agents and lenders and if we don’t get their business pretty quickly, we tend to move on. Mistake! When it comes to converting real estate leads or any type of lead, the real money is in the follow-up process. Here is why following up is so important and how agents can expand their business at a rapid rate.
The Spring market is arriving and that means a few things. Business is about to start booming and…Realtor Broker Opens! When I first moved to the Washington DC/Northern VA area in 2012 I didn’t know what a “Broker Open” was as this was something agents didn’t really do in Phoenix, AZ. I quickly find out that they were all the rage in Northern Virginia, and a way that Title Companies built relationships with agents. Having sponsored and taken part in many Realtor Broker Opens over the last 4 years there are ways to maximize Realtor traffic, expose the property, and get what you really want…honest property feedback from producing Realtors. Here are tips to dominating Realtor broker opens and making the most of those 3 hours.
For my 1st blog post of 2016 (sorry for taking so long) I want to discuss the early year Realtor training classes and how I see many agents get exposed to “bad and inaccurate” information. I teach real estate marketing classes all over Northern Virginia, have active content on this website, write for Inman.com, and post YouTube video content that helps real estate agents and mortgage lenders. I am NOT AN EXPERT. I know several things that my clients can integrate into their business, that can help them do more transactions, but at no time do I convey myself as an expert. I am continually learning from others through books, videos on YouTube, and other websites in which I subscribe. I then take that information and use it the best I can to help my clients. On the other hand, there are people out there who take full advantage of Realtors posing as an expert. Who are these people? Be on the look out for these people…
Your real estate data base…which I like to call your “Data-Bank,” is the best place to market and find gold! There are many different ways to gain more referrals from your real estate database, but I want to talk about a “strategic plan” of steps to make that happen. Christmas is here, so now is one of the best times of the year to reach out and re-connect to these people. As a new agent or established agent, your real estate database should be the #1 place to market on a regular basis to gain qualified referrals. These are your warm relationships who know and interact with other warm relationships. Those “other warm relationships” are called referrals! So how do you pluck out more referrals from your sphere and start 2016 with a bang? Here is how:
December has arrived! That means many things in our business. Holiday parties, gifts, drinking and food. It also means that it’s time to get prioritized and your business plan together for the next year. Yes, I know that EVERYONE talks about these things at this time of the year but guess what?? Most Realtors do just that…talk about it, but don’t actually do anything else. Setting December real estate goals and action plans takes time, effort, and a real plan. Making the #1 mistake Realtors in December will also hurt you in the short and long term…and that is taking the month off all together. Yes, you deserve a break after a lot of hard work, but take the time to set the groundwork for next year so you can start the year off successfully. Here are some helpful tips to make December great, and set the stage for a kick butt 2016.
There is one thing that I hear consistently from real estate agents…they just need more Leads! “Wade…if I just had more leads, I would have a lot more business to send you.” The big myth in the real estate business is that more leads = more business. Not true. The word “Leads” gets thrown around way too much, not just in the real estate space, but in most business. The title insurance industry is no different. I hear inexperienced title reps talk about their Realtor/Lender leads as if these people are practically clients already, though they haven’t had any sort of commitment for business. I then like to ask these Realtors, Lenders, and Title Reps about their “Prospects?” There are major differences between real estate leads vs prospects. They are nowhere near the same thing. Once you learn the differences, you will never treat those “leads” the same way again.