One thing you’ll learn to do as a team is track everything. By developing great tracking systems, we learn to duplicate the right actions and activities that’ll generate the business needed to be successful.
Team leaders often ask what their most important role should be, and my answer is always the same: Your job as the leader, or CEO, of your team is to focus on business development and people development. By tracking the activities that generate business, we learn that most team leaders find the greatest success when they focus on listings.
When marketed correctly, listings should generate 1.5 buyer-side closings, so a single listing will generate 2.5 total transactions for the team. Therefore, if you maintain 20 listings, you’ll create 35 buyer-side closings. Many times, teams focus on generating buyer leads, spending thousands of dollars chasing internet leads that primarily drive more buyers. While I don’t have a problem paying for leads, the team leader should focus primarily on listings and building their listing inventory.
Here are a few things our high-volume listing clients do to ensure their team’s success with listings:
Prospect for Listings Daily
Prospecting is one of the most important things salespeople do. It’s easy to make excuses, but picking up the phone and getting 1-2 hours of prospecting in every day will pay huge dividends.
Geographic Farming
Select a geographic area with high turnover that’s not being heavily worked and send one high-quality mailer every month for 18 months. Provide market data and information that establishes you as the neighborhood expert.
Door-Knocking
Begin in and around your farming area before expanding to every new listing. Keep it simple by asking the homeowner if they want to move, or if they know anyone in the area who does.
Market around Listings
Mail Just Listed, Price Reduced, Open House and Just Sold cards to the closest 100 houses. Hold open houses and use every listing as an opportunity to turn on your marketing engine.
Work Their CRM religiously
Call through your database a minimum of four times a year and your top 50 once a month. Ask for business and be interested in how your relationships are doing. This should be done on a schedule, so when you talk to someone in your SOI, schedule the next touch.
Focus on FSBOs and Expired Listings
Using a company like REDX puts the data in front of you, allowing you to auto-dial FSBOs and expired listings. Work from a script, be consistent, and reach out and offer your unfair competitive services to win.
Work divorce and probate attorneys, new-home construction, military moves and other lead sources by creating a system and following it.
The key to gaining more listings is to plan the four specific pillars of income you’re going to focus on, then work each one as if it’s the only strategy that’ll get you to your goal. As you work each one, track the calls, conversations and appointments set so you can duplicate the efforts that are working and discard the ones that aren’t.
Verl Workman is the founder and CEO of Workman Success Systems (385-282-7112), an international speaking, consulting and coaching company that specializes in performance coaching and building successful power agents and teams. Sign up today for a free business consult with Verl by sending an email to coach@verlworkman.com. To hire Verl to speak at your next event, email events@verlworkman.com.
For more information, please visit www.verlworkman.com.
For the latest real estate news and trends, bookmark RISMedia.com.
