I love (and hate) what someone once said about the business of real estate (or any sales business for that matter)…. You can dress the part; You can drive a fancy car; You can have the nicest office; You can have great business cards, signs and flyers, BUT without leads your business will go nowhere. This is a loose paraphrase regarding the necessity of leads and lead generation.
Most newer agents ask themselves, “Where is the business going to come from?” Everyone at some time or another has this inner panic. The company at which I’ve chosen to hang my license does a great job in training and helping us with business development. One extremely valuable concept that I’ve hung on to is that of honing in on your best lead generation options. While there are something like fifty or more lead generation strategies, we’ve been trained to explore them all, but choose and attempt to master three – one long-term and two short term strategies.
The philosophy behind choosing three, oppose to sampling all fifty, simply conveys that people need to focus on their natural strengths and temperaments, with consistency playing the key role. One cannot determine if a strategy is effective or if it is “a fit” until it is explored and implemented consistently over time. The guy who works an open house here and there (once a month), with no game plan, will undoubtedly remark, “Working open houses are a waste of time.” Whereas, I know several agents that have a game plan to work at least one “open” every weekend. Over the course of six month to a year, their effectiveness can then be accurately evaluated and the above comment can be debunked or legitimized. Those that give themselves to learning and consistency will find fruit, as the strategy (and agent) is cultivated and trained. My associates that consistently work opens with a game plan inevitably become many buyer’s agent and convert those “lookie loos” with grace and consistency.
Tapping into your data base and sphere of influence will no doubt be your number one long-term strategy. Those that know how to stay in touch and relate to those they’ve already met will succeed, period. So it goes without saying, those with a broader sphere of influence are going to be able to ramp up their business faster than those who have to start from scratch. I highly recommend a program that assists you with your data base management – one that will put you on a schedule of staying in touch. What will naturally happen as you stay in touch, when that person is ready to buy, sell, or invest OR knows someone who need real estate guidance, you will be the one they call and refer! And might I add, you will always get the listing over the anonymous “neighborhood “agent who only sends out “blind” postcards.
Many seasoned agents that have talked with make comments like, “All I do now is referral business and just stay in touch with past clients and my sphere.” Another agent recently said to me, “Yeah, I’ve been in business for thirteen years, I try to limit it to three listings at a time.” I know more agents that do not have this problem of limiting listing than those who do. Point remains – over time, with consistent cultivation, yields a harvest of business.
Moral of the story:
1. No leads = no business
2. No consistency = Lack of accurate evaluation
3. No strategy or game plan = Frustration with more losses than wins
4. Not knowing yourself (lack of fit) = Lack of fulfillment (not to mention emotional blisters)