It’s easy to lose focus when working in a chaotic industry like real estate. But Jimmy’s ten fundamentals of real estate success will help you grow your business, even if you don’t do anything else. And that’s what he’s going to discuss in today’s episode.
Have a clear and concise set of goals
- To find achievable results, you need simple goals to understand, have a timeframe, and a way to be measured.
Be the market expert.
- As a real estate agent, you should know the average sales price in your area, the average amount of time inventory is on the market, the change in inventory over time, and everything else that shows you know what you’re talking about.
Have a lead generation strategy
- Leads are the lifeblood of your business. Whether circle prospecting, open houses, or whatever your process may be, you need to have some strategy in place to generate a consistent flow of potential new clients.
Lead follow up plan of action
- You have the leads. But what are you doing to move them from a lead to a client? Have strategies in place to automatically send helpful and quality information pertinent to them.
Have real estate-related conversations.
- Talk to new and diverse people daily. The more people you talk to, the more likely you’ll have a prospect turn into a client.
Build and communicate with your database
- Your database is everything in this business. Building a database with past clients you communicate with regularly will ensure you stay top of mind.
- These individuals are likely not looking to buy or sell at the time. But when they are, you’ll be the first person they call.
Regularly communicate with past clients.
- The industry average tells us 88-90% of people want to work with their agent again, but only 13% do. That’s because there isn’t communication after the conclusion of the initial sale.
- Interact with past clients regularly, whether through email, social media, or in-person.
- The real estate market is no longer a purely transactional industry – it’s about building relationships.
- Being an involved member of the community and building relationships will help you find more people to work with.
- Encourage people to refer you by sending a hand-written note, small gift, anniversary card, or tickets to events.
Focus on sellers
- In the current market, it is effortless to find a buyer. But the business is built on listings – buyers will come to you if you have the listings they want.
Evaluate each of these criteria and divide up your time to best accomplish everything you can. Once you have these ten strategies in place you can’t help but grow your business.
Connect with Jimmy Burgess on LinkedIn and Facebook, as well as his YouTube channel. If you like what you heard today, we’d love it if you’d share a rating or review and then subscribe to the podcast and tell others about it as well. You can find The Real Estate Sales Podcast on Apple Podcasts,Google Podcasts, Spotify, and Audible, and our website, The Real Estate Sales Podcast.