The Four Steps to Put the ‘Spring’ into Your Business Right Now.
Bonus: Request your free internal business review to find out your business strengths.
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 you. 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 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.
Want to know your ratios now? Email me at www.carlacross.com for a copy of the business planning internal review, excerpted from my business planning resources.
Manager’s recomendation: 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, using that internal business review I mentioned. 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.
For a complete business planning ‘template’, which includes several review analyticals, see The Business Planning Sytem for the Real Estate Professional.
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!
Note: These recommendations, along with fascinating, helpful, and proven statistics from recent studies of top agents are a part of my presentation, From Lambs to Lions: Conquering a Challenging Market. Contact me if you’d like to either have me present ‘live’ to your group, or do a very interactive, fun webinar for you. I’m here to support your success!