When I am out in the field training real estate agents, I like to ask agents whether they believe I could still make it in sales. My question is, “if I moved back into sales tomorrow, do you think I would be successful?” Almost everyone says yes.
The truth is, I would be successful, but only if I followed a few rules. They are five important rules anyone, whether new to real estate or looking to up their game, should follow.
Below are the top five things I would do tomorrow to succeed in real estate sales today.
1. Write it Down
Before I do anything else, I am going to come up with an income goal and create a business plan to support it. A business plan is a crucial element to the success of an independent contractor. It allows you to plan out your business building activities and your business supporting activities.
Figure out the average selling price of homes in your area and then you can identify the average commission. Now how much did you want to earn this year? Divide the average commission into your goal income and you will see how many houses you need to sell to get there.
In your business plan, write down what activities you will be doing daily, weekly, and monthly to hit that goal.
2. Get Some Listings
Listings are the name of the game. Knowing this, I would instantly target a specific niche that allows me to gauge my marketing through a specific selection of homes. I need inventory and I would make sure that every single person in my niche knows who I am and thinks of me when they have a real estate question.
I would do this through social media marketing, direct mail, walking a neighborhood, and making phone calls. I would also schedule an open house every weekend in the neighborhood or niche property that I am targeting. I want to talk to as many homeowners as I can the first month back in the business.
3. Get an IDX Website
It is no secret that one of the most popular topics searched on the internet is real estate. If you go to Google right now and type in real estate, over 3 billion results are available. With that being said, it is still important for you to have your own little piece of the web and make sure it offers IDX.
That will allow me to offer home searching functionality on your site. It will also be mobile compatible. By 2015, half of the internet will be accessed through a mobile device. I would want to make sure that my site works nicely on a tablet or smart phone.
4. Develop a Follow-Up System
It takes an average of eight follow-up attempts to get a buyer in your car to look at homes. I need to set up a CRM (customer relationship management) and start tracking my conversations.
I will be following up with everyone I meet from open houses, referrals, and direct marketing. My CRM will allow me to categorize them and put systems in place to keep me in front of them so when they are ready to buy or sell, they are only thinking of one person: me. I will also make sure it has mobile compatibility so I always have my database with me.
5. Meet with my Clients in Person Every Chance I Get
Anytime I can get face to face with a past, current, or future homeowner, I am going to do it. I want to differentiate myself from other sales associates. I am going to do that through amazing customer service. I work for the client and I owe it to them to be there every step of the way.
I am presenting offers in person, attending home inspections, appraisals, and going to the closing. Whether they are there or not, I want them to know they can count on me. Why? Because we are in a customer service industry and we rely on referrals.
My job is to build trust and rapport with clients. If they are happy with my service, they will work with me again in the future and refer future business to me. It is working smarter, not harder.