Reaching Your Community
Hello and welcome to Debbie’s Tips!
I was wondering, is it time to expand your range, reach, and influence in your community?
As a professional coach I have an opportunity to travel across North America to meet with some of the most elite agents and real estate professionals in the nation. They commonly share with me that 80% of their business comes from the people that they know, their past clients, sphere, and connections in the community. What they also tell me though is that they still need more business, that they are often disappointed by the lack of repeat and referrals from their database.
When you consider the fact that the average homeowner is staying in their home longer than ever before and that most homeowners know more than one agent, and that customer loyalty in most industries has declined by 50%, you can see why you may need to expand what you do in order to grow your business.
When a new coaching client hires us to help them, one of the first things we do is examine their system for working their database. There are almost always gaps. In fact, usually they are doing very little to market to these valuable people.
We encourage our clients, and I encourage you, to drop a web of connection over these folks, to direct mail monthly, to email weekly, to text quarterly and to call and visit as often as possible and appropriate. By staying top of mind, we cement the relationship and increase the likelihood that they will call you when they are ready to make their next move or have a friend or family member that you needs your help.
Once we have a system to ensure our connections with our warm list, next we should be obsessed with growing the list with quality connections. Some of the best sources of new additions to your list are the people you do business with, workout with, meet at school, church, and other activities you participate in.
Often, they may not even realize that you are in the real estate business. That’s why many top agents now wear their name tag or branded career apparel every day! People love to talk about real estate and when they see you are an agent, odds are they will ask you, “How is the market?” Because this can open the door for a new lead or opportunity, it’s important to have a go to way to spark a great conversation.
Here is the script I have our coaching clients use. So when they ask you, “How’s the market?” Say, “Thank you for asking! Actually it’s a very opportunistic market. There are great opportunities for buyers and still some very strong opportunities for sellers. I am curious, is there an opportunity you are interested in?
Of course they may say that they are not interested in buying or selling any real estate, which then gives you an opportunity to invite them into your marketing list so that we can expand your web of connections.
“You know, I have something I do for my friends, family, and great past clients. I send them valuable bulletins and updates about the market and things they need to know to stay well informed. Would you like to be included in my information loop?”
Remember, it’s important to get their name, address, and phone number, enter them in your CRM in the appropriate category, and stay in touch. If you focus on it, you should be able to add 2-3 quality people in a week, and over time it’s amazing how quickly your list can grow.
But what if you don’t know enough people and you don’t like cold prospecting? Consider forming your own organic networking group of like-minded business professionals who have access to your ideal client.
One of the great coaches who works with me on the Excelleum faculty, Alyssa, started years ago in the business as a single mom with no extra dollars to spend for marketing. She decided to put together a group of moms who were all in the sales business. They met each Tuesday for breakfast, and it was fun! They shared marketing ideas and they brought leads to each other. And because Alyssa put the group together, she was the only real estate agent in the group! It worked. Within a couple of years she was doing over 100 units without a team. She continued to grow and eventually needed to build a team to assist her with all the business she created.
So I hope you go out and do likewise. And remember, you change lives doing what you do. So go out there and meet some new people to help!