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The Missing Ingredient to Assure Your Team’s Success in Real Estate

Aug 12, 2019 by

The larger your lead database, the more successful your business will be. We have seen a direct correlation between real estate growth and the size of a lead database. Seems like a no-brainer, right? More leads equals opportunity. In fact, we’ve discovered that teams investing in lead generation efforts experience a compounding growth effect. Over eight years, they typically see growth in production volume by 4x.

So how do you tackle it all and keep up with that treasure trove of a database?

The Time Conundrum
What goes into managing a database?

Say you’ve got 1,000 leads. Maybe 25 percent of those are “nurture” leads you’re reaching out to. You have your eye on a handful of leads that are six months out from being ready to buy. Maybe 25 new leads this week registered on your site, and they’re ready to talk!

On top of that, you have past clients to follow up with, cold leads to circle back with…oh, not to mention the day-to-day of running your business.

Historically, people have turned to technology to make that work easier. But there’s an emerging factor that could be the key to assuring success in real estate: lead support services for agents.

Getting Off the Hamster Wheel
We’ve already highlighted how your lead database impacts your potential for production volume. But now imagine all those leads. An agent has to make the initial engagement. Oftentimes, they have to nurture them for up to a year! They have to constantly engage and re-engage with them. And when they become an active “client,” they have to provide exceptional service.

Don’t have time to nurture leads ’round the clock? Click here to learn about Success Assurance, from BoomTown. 

But, you didn’t get into real estate to chase every new lead, right? To be glued to your phone, at-the-ready to respond at a moment’s notice? No—you got into real estate to make connections, have conversations, solve problems. You got into real estate to sell real estate! But, as we all know, it’s critical that someone chases those leads and that new leads are responded to immediately.

So if you want to squeeze every cent out of your growing database, you have two choices:

  1. Be in 100 places at once.
  2. Invest in the right support.

The Missing Ingredient
Technology can assist with those tasks, but a supporting service, like RealContact for example, would enable agents to focus on the biggest dollar-productive activities: handling clients. This extra “support” takes care of the lead engagement. It manages the lead-nurturing. And when coupled with technology, it accelerates lead conversion.

So when you get a lead at 2:00 a.m. and you’re sound asleep, there’s someone ready to reach out immediately.

Let’s face it: The real estate hustle is real. The more you grind, the more successful you’ll be. But it’s 2019. There’s a way to capitalize without burning out. The way to assure success in real estate is by investing in the right support services that will allow you the time to focus on dollar-productive tasks—to get off the hamster wheel and get back to selling real estate!

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There’s No Such Thing as Instant Success

Jul 16, 2019 by

“I want it all, and I want it now!”

That sounds nice, but it’s not how it works—especially when it comes to success. True success in life, both personal and professional, takes time. It takes consistency of actions and discipline.

There’s no such thing as instant success, even as the world of instant gratification we live in continues to grow with Amazon Prime same-day service, mobile apps that let us order ahead at Starbucks and other click-of-a-button pleasures. Take weight loss for example. It’s a math problem in most cases: calories taken in versus calories burned over time. Building wealth is the same thing: Dollars invested today compounded over time builds wealth.

That same process can be applied to sales success. A series of activities, such as following up on prospective sales leads consistently, done over time, leads to success. Most sales are made after the eighth contact. No magic here. Skills are important; however, suiting up and showing up more often leads to more sales.

You can also accelerate your results by doing more scheduled activities over time. You’re less likely to be distracted with a structured day—which is key, given all the distractions out there.

Information flies at us at light speed. Our brains are being inundated with data at all times. This influx of information causes confusion, FOMO (Fear of Missing Out), and makes us feel busy, but being busy isn’t the same as being productive.

So, how do you ramp up those productive activities that lead to success?

Jim Weichert, founder and president of Weichert, Realtors®, says that “you do it by managing your day instead of letting your day manage you.” Doing so helped Jim build a single real estate office into one of the nation’s leading providers of homeownership services. Jim’s belief in a simple process or system built around goal-setting, scheduling tasks and managing productivity has also helped countless Weichert® agents succeed.

Establishing the right habits—ones that are repeated daily—is the best way to achieve your goals. The systems used at Weichert, which provide great discipline and accountability, focus on the right things to help our brokers, managers and agents move toward their goals.

Success isn’t achieved overnight. It’s a process that’s filled with small steps. But small steps or successes built on top of each other lead to big success.

Bill Scavone is president and COO of Weichert Real Estate Affiliates, Inc. For more information, please visit www.weichertfranchise.com.

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100 Years Strong: Deep-Seated Fundamentals Key to Continued Success

Apr 18, 2019 by

In the following interview, Tom Blanchard, III, president of Blanchard & Calhoun Real Estate, a member of Leading Real Estate Companies of the World® (LeadingRE), in Augusta, Ga., discusses the firm’s history.

Region Served: Central Savannah River Area (CSRA)
Years in Real Estate: 22
Number of Offices: 2 main offices and 2 satellite offices
Number of Agents: 180

What do you like most about the region in which you work?
Recently, the CSRA has seen a lot of growth with the Cyber Command Center, Plant Vogtle, Fort Gordon, the Savannah River Site, Augusta University and surrounding medical communities. This has changed the landscape of our community and has allowed us to serve a wider range of people.

How do you stay flexible and relevant in today’s ever-changing real estate landscape?
We believe in educating our employees and agents on the latest tools, trends and best practices. We do this through the various educational resources provided to us through platforms such as LeadingRE.

How have you benefited since joining LeadingRE?
As a member of LeadingRE, we’re able to deliver more to our agents, staff and leadership. Whether it’s through tech tools, education, networking or relationships, we provide our team with what they want and need to be successful.

What is the biggest obstacle you’ve overcome within the last year?
We’ve focused our efforts on increasing the awareness of our real estate institute and training efforts for our agents and staff. We want to attract new agents and continue to support current agents by being innovative and dedicated to their success.

As the company celebrates its 100th anniversary this year, what factors have led to its continued success over the years?
Our people and our culture. Even 100 years ago, these fundamentals were ingrained in our core business practices. Today, we continue those practices in our day-to-day, and we do not veer from them. Our business is made up of our people. They will always be the core basis for our success. In our century of service, we’ve amassed a collection of stories that highlight how our success and the success of our community and those we serve are intertwined. These stories can be found at www.100years100stories.com.

Final Questions… 

What’s your best advice for new agents?
This is a people business. To be successful, you have to be able to serve the needs of your clients and continue those relationships after the closing. Real estate is a business that has no limitations on success. If you put in the work, you’ll reap the rewards.

What’s your top tip for staying ahead of the competition?
Take advantage of the various tools, platforms, educational material and trainings that your broker provides. These tools are there to help you be successful and focus on building your business. 

For more information, please visit www.leadingre.com.

Paige Tepping is RISMedia’s managing editor. Email her your real estate news ideas at paige@rismedia.com.

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One Secret to Success? Set Clear Time Boundaries

Apr 2, 2019 by

There’s no sugar-coating the fact that to be successful in this business requires work and long hours—especially in your first year. As a new agent, you won’t have the benefit of an established referral base, which means you’re going to have to generate relationships with sellers and buyers as well as do the work to let those in your sphere know that you’re in the business.

That said, time-blocking and setting clear boundaries are essential to not living too far out of balance and burning out, as well as getting to the level of success you expect.

It’s really important that you set a schedule with clear boundaries that you never cross. Let’s use a real-life example! One of my good friends used to be a real estate agent. He sold over 100 houses a year for five years in a row. The amazing thing about him was that he never worked on a Sunday. To me, that’s just incredible, because Saturdays and Sundays are the busiest days of the week for most real estate agents. For him? His faith practices and family came first, so Sunday was reserved exclusively for that. I have a lot of respect for his ability to set that boundary and stick with it.

Your personal boundaries might include one day a week that’s reserved for family time, as well, or it might mean you commit to family dinner at least four nights per week—or date night with your partner every Saturday at 8 p.m or Little League practice on Tuesday nights. Draw your own lines as to what you hold sacred in terms of your family commitments.

Next, look at your professional boundaries. One thing that trips many agents up is they don’t draw a firm enough line around prospecting time. Why? Because prospecting scares a lot of people. Yikes! You’ve got to pick up the phone? So, what do they do? They usually keep moving it to the bottom of the to-do list. Guess what happens then? They find themselves out of business. Prospecting equals appointments which equals listings which equals commissions.

I always recommend that agents commit to at least one hour at least three days per week for prospecting.

As a new agent, you’ll want to increase those numbers. Set aside specific times on specific days and make committing to those hours non-negotiable. Prospecting is the closest activity to your revenue line. Treat it with the same reverence you would going to the closing table. It’s that important. Because without prospecting, there is no closing table appointment!

I would also recommend you don’t put it off until the end of the day. Why? It’s too easy to cancel that way. There’s a great saying, “Eat the frog first.” Yuck, right? The premise though is that if you have to “eat a frog”—or rather, do something you don’t really want to do—it’s best to just get it out of the way. Do that thing first so that you’re not spending your entire day dreading doing something. Instead, if you knock out the task (like prospecting) first, you head into the rest of your day feeling accomplished and more confident!

Set up good time management habits right from the beginning and you’ll help to set yourself up for a great career.

You’ve got this. I’m here to help, with a passionate community of Power Agents® that can be there for you as well. Learn more at www.ThePowerProgram.com/NewAgentSuccess.

Darryl Davis, bestselling author of “How to Become a Power Agent in Real Estate and owner of Darryl Davis Seminars, has trained and coached over 100,000 real estate professionals around the globe for more than 27 years. He is the founder of the Next Level® real estate training system, The Power Program®, which has helped agents double their production over their previous year. For more information, and the new agent tools that can help take you to your Next Level®, please contact darryl@darrylspeaks.com or visit www.ThePowerProgram.com/NewAgentSuccess.

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Accelerate New Agent Sales With a Success Plan

Feb 20, 2019 by

As the manager or broker, you have recruited a talented group of new agents and want to see them pass the test and launch instantly into a flood of listing and sales activity.

This can and should happen if you provide them with a plan and direction. The best way to hit the ground running is to set up your new agent with a specific daily routine and Success Plan of action that helps them become producing agents quickly. With these tools, they will be making money and thriving. Here are some best practices for creating immediate success with your new agents:

  1. Create a personal business plan. Based on your agent’s income goals and needs, meet with your agent and write a business plan on how much money they “must,” “would like to” and “would love to” make. Put on paper what the plan is for achieving those results. Identify the 3-4 methods of prospecting the agent will conduct for new listing and buyer clients. Set them off t doing the items you each agreed to and include a due date for completion. Give them specific tasks to do to create listing and buyer opportunities for themselves.
  1. Focus the new agent’s attention on getting at least three new listings in the first 60 days. We all know wonderful things happen when you are the listing agent. Besides getting most of the credit for the sale, listing agents last and sell the most. If your new agents realize early on that listings are where it’s at—that they produce more buyers and additional opportunities—they will go after the listing side of the business and not spend too much time with buyers. This maximizes their time and sets them up for immediate success.
  1. Hold open houses in the right price points with listing opportunities. Make sure your new agents are holding the right houses open each week that attract move-up buyers. Have them watch my “Make $ 50K at Your Next Open House” webinar, which gives amazing and easy-to-implement strategies on how to make $ 50,000 at their next open house, complete with the right script strategies to convert more leads into income.
  1. Teach them how to prospect expireds and FSBOs. New agents will try anything, and they should. Provide them with a good script strategy that will help them get appointments. Ask for a copy of their calls and results to hold them accountable. Make the calls with them or go on appointments scheduled. These are free leads that are interested in selling their homes. Proactively go after these leads and to, again, set them up for success.
  1. Meet with them weekly. Hold a new agent meeting with anyone who hasn’t sold 24 houses in two years or has been in the business for less than two years. This creates momentum and a cadence of accountability with your new agents, and they develop relationships with each other when sharing successes and brainstorming challenges together as a team. This meeting should be weekly and never cancelled. The broker or manager is responsible for creating the environment for success to happen.

For more information on training, coaching and developing your sales teams or managers, Sherri Johnson offers world-class exclusive manager, agent and team coaching and consulting systems and solutions that will accelerate your business and produce amazing results.

Sherri Johnson is CEO and founder of Sherri Johnson Coaching & Consulting. With 20 years of experience in real estate, Johnson offers coaching, consulting and keynotes, and is a national speaker for the Homes.com Secrets of Top Selling Agents tour. For more information, please contact coaching@sherrijohnson.com or 844-989-2600 (toll-free) or visit www.sherrijohnson.com.

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