Every month, there are thousands of new Realtors entering the profession. Statistically, most new real estate agents won’t make it a long career–many won’t make it past the first 18 months. Why? There are many reasons, but the main reason is new agents don’t know how to generate their own clients. This is information they don’t teach in real estate school. You pass a test and they say “good luck!” This is also why many new agents join teams so they can gain experience, work with active clients, and learn to generate their own business with guidance from a team leader. If you don’t want to join a team or work at a brokerage where teams don’t exist, then you better be a self-starter and eager to become a marketing king. I want to cover some of the basic ways new real estate agents can have a banner first couple years and get their business off the ground by generating their own clients at zero to little cost.
2019 is almost here, and now is the time when Realtors, lenders, and Title professionals start setting next year’s goals. Setting goals is important as they are short-term and long-term guides to personal and business growth. As a Realtor, I’m sure you have many goals for next year, but I want to focus on three important real estate goals in 2019 that will help you personally and professionally.
I recently had a top Realtor attend one of my classes. I followed up like a good Title Rep and she ignored my email, as she gets bombarded all the time (as any top producer does). I let it stir for a few days then gave her a phone call. During the conversation, she stated she liked my class and got a lot out of it…BUT she is loyal to another Title Company where there is a joint venture. I kept her on the phone asking her business questions about what she direction she was trying to go and how Stewart Title could assist. She agreed to meet. We met the next day and she was very happy with the services we offer and the relationship we bring. The JV Title Company didn’t help her with her business. As we spoke in a coffee shop about her business needs, she explained that in her third year in business, she had done 31 buyer deals and 8 listings (in the first 8 months of the year). Very impressive! Though she was happy with her business growth, she said that her largest fear in real estate was…
Let me guess…you are a Real Estate agent or Mortgage Lender in the Northern Virginia and you want to do more business? We all do right? What we really want are LEADS! We want people that reach out to us and say “hey I need to use your services…I got your marketing piece or found you online; can you help?” Yes you can!! But how do we get to this point? How do we change our traditional marketing into Real Estate Target Marketing?Let’s back up…
The Field of Dreams…remember that movie? The one with Kevin Costner in Iowa (where I am from) and he hears these voices that say “Build it and he will come”? Then Kevin Costner proceeds to destroy a chunk of his crops and everyone around him thinks he is crazy for doing such a thing! Well, you will have to watch the movie to find out how it ends but let’s just say that what Kevin Costner did, and the sacrifices he made worked out amidst the disapproval of those around him.
I was having lunch last week with a client and we were discussing his current business model. This client primarily works by referral and spends his marketing dollars and time sending notes, making calls, and doing pop-byes. All great, but I asked him a question…“What are you doing to keep your real estate sales funnel full…with NEW people?” He looked at me and I could tell he was unsure on the answer. If your entire database is 50 people, it is a limited number of people who can use your services and refer you to others. What if your database was 100 or 200+ people? What would that look like for your business? This applies for Realtors, Lenders, and Title Reps. You have to always be adding new people into the sales funnel. Not doing so limits your business tremendously. Taking the right “action steps” to get new people is the challenging part. Here are some tips to make it happen!
I recently taught a class at a Realtor association for new agents called: “I Just Got my Real Estate License…Now What?” The class was 2 hours long and covered a variety of topics to help these new agents get their businesses off the ground. When the class ended, each person was given an evaluation form of the instructor (Me!) and how I did. One thing caught my eye from one of the Realtors. The question on the form was “What are your biggest daily challenges?” The answer they gave was “Not enough Leads.” Unfortunately, the agent’s names were not on the evaluation forms, or I would have reached out to that agent to explain that the lack of real estate leads is hardly their problem.
Every week I get business cards from Realtors. We meet in a class I teach, or at an event. Either way, they are handing out business cards not only to me, but many other people. I realize that a business card doesn’t 100% reflect a person’s value or level of business that they conduct, but it does provide the person receiving the card an insight and upfront perception. Realtors are in the business of helping people buy and sell real estate, yet they usually leave 50% of their business card empty, or less than desired. I’m still curious as to why that is, but there are many things Realtors can do with their business card that can leave a far more lasting impression, AND get that person receiving the card to want to do business with them. Let’s discuss why Realtors lose credibility with and what better things are done with the business card.
Creating “loyalty” in almost anything these days can be hard. Why? Because we have so many options to work with people than ever before. To create that outstanding client loyalty in real estate is even harder. Thousands of Realtors in every major market, and most people who purchased a home, don’t even remember the Realtor who sold them the house a few years later. Tough to get repeat and referral business when your own clients don’t remember you. Let’s also not forget that with the internet options to pick and find a Realtor, and companies like Redfin running TV ads….Wow! In today’s world, creating client loyalty in real estate, lending, Title, and many other fields is becoming an increasing challenge. It can be done and here are several ways how.
School is back in session and vacation season is over. It is still technically Summer, but the Fall real estate market is officially here. Many Realtors/Lenders are refreshed and ready to make the push for a successful rest of 2017. Having an effective fall real estate marketing plan is key to ensuring that your current and past clients are touched, and the pipeline for Spring 2018 is filling up. The hard part is getting back into that business mindset and make the wheels start moving again. We all know it has to happen, but we need a plan. Running your business by design is far better than just “winging” it, so let’s chat about how we can set up a Fall marketing plan and close out the year strong.