It’s spring. Flowers are blooming. Is your business ‘blooming’ as well? The business is definitely picking up–yet, many agents are still on the sidelines, looking at the game, as though they were ‘benched’! Don’t let that happen to your agents. According to a study by one of the largest real estate firms in the Northwest, March/April is historically the highest buying time of the year. Why? Buyers are purchasing now so they can move when school is out. What do I mean by ‘buyers’? Anyone who is buying or selling.
Getting Back into the Game
Here are four steps for your agents to take now to assure you are on the A team, and are definitely in the game, along with recommendations for managers to coach your agents back into the game:
1. Polish your database. I know. It’s been languishing while you’ve been on the bench. Now is the time to purge, polish, and publish.
Recommendation: Add 50 clients to your database each week for the next 3 months, until you have a very robust, up to date database. It’s your first step in recognizing who your leads actually are.
Manager’s recommendation: Meet with each of your agents, and actually see their databases. You may be surprised at the lack of organization. This will be your opportunity to coach your agent to a great database.
2. Lead generate as though you were employing yourself (your are). Set aside 2 hours each day in the morning to lead generate–5 days a week. Get back to work. Buyers are out there, waiting for you to contact them!
Recommendation: Switch your lead generating activities to 60% proactive, 40% reactive.
Manager’s recommendation: Use this internal business review to coach your agent to a proactive approach to lead generation.
3. Lead generate to your best sources–those people who thought you were wonderful–but you haven’t kept in touch.
Recommendation: Choose 5 people a day who you know will absolutely love to hear from you. Why? You need positive reinforcement to get back in the game.
Manager’s recommendation: Coach your agents with methods to re-establish those relationships. In my next blog, I’ll share the “Mallory Survey”, a wonderful, simple method to touch base with those who love you, and get some powerful testimonials, too.
4. Spend some money–but the right money. A recent study showed agents spent the most money on direct mail, their websites, and print advertising. Yet, two of the three top business-getters were referrals and repeat business! (and none of these 3 money-burners were in the top three!). Isn’t it ironic that they spent much more money on those lead generating activities that didn’t pay off?
Recommendation: Go back through your business last year. Then, add up the marketing dollars you spent you your best sources, vs. the marketing dollars you spent on your worst sources. I’ll bet you find the same conclusions.
Manager’s recommendation: Use that same internal business review to help your agents see where they spent their money, and help them make changes for better marketing pay-offs.
Armed with these 4 action steps, you’ll not only get back in the game, you’ll conquer the game. Remember, you have less competition now, and a huge pent-up demand for your services. Take advantage of it and find all those people who will think you’re wonderful 2 years from now, when interest rates are up and home prices have appreciated!
Beyond the Basics of Business Planning
My online business planning resource has all the analytical tools you need to help your agents review their businesses to date–and set goals. Support and motivate them to a great year! The managers’ program includes all the agent webinars and tools PLUS the manager’s business planning program. Click here to learn more.
