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.
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…
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.
Over the last few years, I have received many emails and calls from Title Companies and Title Insurance Sales reps. Washington State to Florida, most of their questions and work struggles have a similar tone. This shows that no matter how business is done in your area, the concepts of sales and marketing strategies to gain Realtor, Lender, or Attorney clients is the same. When I moved to the Washington DC area in 2012, I did “start over” in the Title Insurance sales business. I moved to a brand new area, 2000 miles away from my former market (Phoenix, AZ) and I had zero clients. The positive thing is that I had seven years of Title Sales experience and had a proven track record building a book of business. With that said, what if I had to start over in Title Sales…right now? Would I do things the exact same or differently? Hmm…if I started over today.
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!
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 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:
Do you have a real estate marketing budget? Do you track where your marketing dollars go and what sort of ROI (return on investment) you are getting? Surprisingly, many Realtors either have a “loose budget” or they aren’t really tracking the return on those marketing dollars spent. So, in today’s blog I want to cover a real estate marketing budget (monthly), what are some of the best things to be spending your marketing dollars on to get a high ROI, and the allocation of those funds. I realize that every Realtor works a little differently, and there are vast ranges in marketing budgets. To make it easy, lets say your marketing budget is between $1500-$2000 a month. If your marketing budget is a lot less than that, don’t worry, the information below will still be helpful.
We are all looking for ways to run our businesses more efficiently. We want to save time, make more money, and also have time to enjoy our families. That is the goal anyway. In many instances that balance is way out of whack and we spend a lot of time doing things that make us little money, yet take up a lot of time, and we sometimes neglect our families. So how do you increase efficiency in Real Estate going forward and in 2015? There are several things you can do in your Real Estate business that can help you achieve that goal but I want to highlight 3 things that IF you take action now, will help you increase your business and also help you save time in 2015.
The new year is upon us. Out with the old and in with the new. So…did you make your goals in 2013? If so…congrats! If not…why not? Perhaps you set your goals too high and they were not realistic, or maybe you didn’t follow your plan all the way through in order to reach those goals. What are your 2014 Real Estate goals? Do you have any? Sorry for starting this off with a ton of questions but this is a very important time of year. This is when YOU, the Real Estate agent looks back and evaluates your business model going forward then formulates a plan for 2014. The issues you ask? Implementation! Ideas always look good on paper right? Now is the time to start doing what you are saying. So, I want to cover what I feel are good 2014 Real Estate goals, then I will add what I am pledging to do to help YOU grow your business and become a more savvy agent. Here they are: