As the market heats up and real estate agents get into the spring selling season, many will stop working on their businesses in order to address the increasing needs of their clients, thus focusing strictly in their businesses. DON’T LET THIS HAPPEN TO YOU!
Even when business is good, we must remain focused on lead generation and other business development activities. If we stop these behaviors, we will experience the peaks and valleys that are all too common in real estate. New market opportunities are all around us, but those who are the ‘hunters’ will capitalize, while others sit by and wonder why it’s not happening for them.
As I interview elite agents in RISMedia’s Top 5 in Real Estate Network® each month, I find that there are a few common threads that separate the average from the exceptional. Following are just a few of the ways that elite agents are taking advantage of new market opportunities.
Farming. Without exception, the top agents own geographic areas. They farm through the good times and the bad. Mailing to your farm every 4-6 weeks, year after year, will produce so much business you won’t be able to afford to stop. You must also become a pillar of the community. Be present and invest your time in community events and give generously to help the community grow and prosper.
International Real Estate. International buyers are entering the U.S. and buying real estate. Some markets are more affected than others, but a strategy for building international relationships with top agents around the world is critical to success in this realm. Education through the National Association of REALTORS®’ Certified International Property Specialist (CIPS) Designation and other international real estate organizations will help you get started.
Luxury Markets. Build a business plan to go after the high-end of your market and become an expert in dealing with the luxury seller and buyer. And build relationships with people that can help you serve this market. To be successful in the luxury market, you must provide exceptional service, expert advice and have a marketing plan that separates you from the average. Take classes, join luxury-focused groups, and engage, network and learn from other experts in luxury real estate.
Own Your SOI. It’s amazing that so many agents leave marketing to their sphere of influence to chance. Most clients love their agents and are happy with their transactions, however, very few use the same agent again. Why? Simply because agents don’t follow up and stay in touch. Using a real estate-specific contact management system and automating your follow up will keep you front of mind throughout the entire homeownership life cycle. Use Dave Beson’s LetterWriter to automate this process and you will find that your friends, clients and other relationships will not only find you when they’re ready, but the transactions will be more profitable.
Opportunities are all around us, and technology, training and systems are available to help us take advantage of them. It’s up to you to engage, and now’s the time to shoot, because the ducks truly are flying.
Verl Workman is a speaker, coach, business consultant and president of the Top 5 in Real Estate Network®. To hire Verl to speak, consult or work with our company, email Coach@VerlWorkman.com or visit www.VerlWorkman.com for more information.