The top 5 things Realtors have forgotten that is killing their business!

In my experience, the following 5 items are the most likely things that Brokers forget to do. If you do all 5, you’re a Rock Star! If not, it’s a new year. You can get it done this week!

#1 Establish your identity
Before you take another step forward, you must do this! Be able to share your story of “Why” and “Who” you are as a Realtor, What you believe in, What you stand for and Why someone is compelled to work with you. There are literally, endless choices for someone looking for a Realtor. Buyers and Sellers are inundated with the same boring messages about hiring a professional. YOU MUST STICK OUT! Along with your, “Must Do’s” in starting your story, you need to remember to personalize it. It has to be a way that is truly YOU! There are many great exercises and activities that you can use to define who you are, as a professional Realtor. Craft a mission/vision statement. Design a logo depicting your services. Create an elevator pitch. Make sure this identity is consistent across all platforms. Use video to convey it. We are bringing Chris Bartell, founder of the Super Powers Academy up to the Seattle area in late February for a class on building your own brand! At the end of it you will have a clear consistent message. Click here for more information.

#2 Design a follow up program.
Real Estate Agents are killing their business by not following up! Most Sellers say they would use their Agent again when asked at the end of the transaction, according to NAR. However, only 25% end up using the same Agent when they sell or buy again! WHY??? Because they do not stay in touch! You must develop a client follow up system that has at least 7 years of content ready to go at the push of a button. This follow up system has to be built and in place today. That way when a transaction closes you just push a button to enroll them. There are many systems to choose from but I recommend at minimum each year should have at least 18 touches. This is so important and I am always amazed at how few agents have it set up. In fact, NAR statistics show, past clients would use their same Agent again but more times than not, Agents are making it difficult for them. This follow up can be made up of Newsletters, videos, birthday/holiday cards, email drip campaigns, phone calls, drop bys etc. Get started today and you will close more transactions tomorrow.


#3 A Marketing Plan to Generate Leads

Every year a professional Agent sits down and develops a marketing plan for the upcoming year. If you do not do this then you are just flying by the seat of your pants and that is no way to run a business. Prospecting is the lifeblood of a good Realtor. Without prospecting you are just hoping to get clients. That method is a sure way to be inconsistent and end up living hand to mouth. The key points of a good marketing plan include working your website, social media, prospecting activities (FSBO, expired listings and other lead sources), drip campaigns and other advertising. This plan should include how many sales you need to make in a year and identify where they will come from. That way you’ll know if you’re on track before it’s too late.

#4 Buyer/Seller presentation
What do you do when you get a call from a potential buyer or seller? If you have a plan in place and you are organized it can be a simple process. It is vital that you are not in a panic every time the phone rings or you get an email for a meeting. A complete system for going on a listing or buyer presentation and landing the client should be developed in advance of anyone ever contacting you. There are many ways to do a presentation to a potential customer. The main advice I have is to make sure you are prepared to show them how working with you will help them sell faster and for more money or buy the home of their dreams. This may sound cliche but it is what the client wants. There are many ways to show them. You could do a presentation on your laptop or tablet. A printed leave behind is common. Whatever method you use it needs to be crafted ahead of time so you are ready to meet a prospect today!

#5. Listing Management and Advertisement
Now that you have the listing, you have 2 main goals. First, get it in front of as many eyes as possible while presenting the property in it’s best possible light. Second, show your seller that you are diligently working for them, towards their goal. Make sure you have a syndication plan for promoting the property to as many places as possible. Is it showing up where the public is searching? Do you have specialty tours or ways for the potential Buyer to get excited by the property? 3d tours, floor plan tours, professional photos, etc. are all ways to stand out from the crowd. Secondly, you need to have a website repository for all of the marketing activities to be housed so that your seller knows what you are doing. It also helps if you can get feedback from Buyers and Agents into the repository. A good site will have links to everything so your Seller can see what is happening with a click. Many transaction websites will do this for you. This comes in handy, especially when you have to meet the Seller about a price reduction. Showing them all that has been done and the feedback generated helps them understand it is the price or condition of the property, not your marketing that is the problem.

Update:  Here is a video of Keoki talking about this very topic on 1150 AM the Money Hour with Tina Mitchell.

 

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