What is the difference between agents who are selling, having their best year, closing 20-30 deals per month and other agents who have not even closed two this year? Listings. Have you ever heard the phrase “If you don’t list, you don’t last?”
How to Survive this Market! Set some goals and stick to them. Learn something new one hour every day you work. Technology in real estate has doubled just this year. Agents that jumped on board during the Gold Rush got little to no training. Those agents did not even learn the basics of how to return calls or to turn calls into client’s. NAR is predicting another 30% drop out of agents this year. This is a good thing for all of us who take our jobs seriously. The number of transactions per agent are so diluted that Brokers will start dropping next. Agents don’t plan to fail, they just fail to plan.
Write Your Business Plan! Did you know that less then 10% of real estate agents have a written business plan? In today’s market, you have to know how many transactions it will take to accomplish your income goal and then work the numbers backwards. How many contacts will it take? Prospecting 3-4 hours everyday. If you need a good business plan e-mail me and I will send you mine.
Training! Take classes; knowledge in this market is power. RE/MAX has on-line training that you can watch on any computer 365 days a year 24/7. It’s an incredible tool. Boards, Banks, and Attorneys are all giving classes. National Conventions are also a great place to hear speakers and I always learn something new just from shopping with all the Real Estate Vendors. I will admit that in my 20 years as a REALTOR(r) that this year has been overwhelming with all the short sales, forclosures, social networking and learning how to blog.
Listing tools! First you need to have a dynamic listing presentation. Think of it as your resume and you are applying for a job. Show them your experience, community involvement, and your qualifications and designations. Your marketing plan should include your website and positioning. If 85% of all buyers are coming from the web, then you have to show your seller where you market their listing. Here are a few to start with: Realtor.com, REMAX.com, Trulia, and Zillow. These are all free. I then give them 25 questions to ask when interviewing a REALTOR(r) and my 25 answers. This can knock out any competition. The finale page should be 4-6 testmonals from your clients.
Work the Numbers! First, your sphere of influence should include at least 100 that will only refer to your business. Build your own Business Partner book who you send referrals. Join social networking groups like LinkedIn, facebook, and RisMedia. Start working expireds and FSBO. You have to plant a lot of seeds to reap a new harvest. List baby, List!