By Scott Newman
Your business is on the way up, and everything is perfect because you’re making more money, right? Wrong! As the Notorious B.I.G. once said, “Mo money, mo problems.” One of the biggest as a real estate professional is how to spend your money wisely to continue to grow your business.
Today’s blog will focus on when it’s the right time to bring in an assistant or other support staff. Here are 3 signs you’re ready:
1. Promptness is becoming difficult.
If everyone got what they wanted right when they wanted it, you’d be out of business. I get that, so I’m not expecting miracles. However, if you’ve built a reputation on being fast to respond, easy to reach, and quick to get people information, then you risk doing major damage to that reputation if you can no longer live up to those expectations.
If you are finding that you’re no longer able to get people a comparable market analysis the same day you meet with them to preview their home, then it might be a good time to think about what portion of your daily tasks could actually be handled by an administrative person. If there are too many A-level tasks to finish by their due dates because you’re constantly bugged down by B- and C-level tasks (which never seem to end), then it’s definitely the time to consider staffing up.
2. Things consistently slip through the cracks. Continue reading »
By Lynn Minnick
When I was a new agent back in 2000, I took a rental call. It was a young couple, around my age, looking for a rental in town. Once we started talking, they told me they could spend $1,400 per month. That was higher than my mortgage payment at the time, so I asked them if they’d considered talking to a lender about being approved for a mortgage. It hadn’t occurred to them that they could be homeowners for the same payment…and so our relationship started! I got them into an adorable little house by the lake and they began to build equity.
Fast-forward to 2014, when this week I’m starting my ninth transaction for them (including all of the referrals they’ve sent me). There’s a possible tenth transaction on the horizon if I can find the dream home for a friend of their family. (Challenge accepted!)
I call them my “A+ Clients.”
We’ve been through a lot together – births and deaths, good markets and bad, and even though they’re now in their “forever” home, I know that all of the time and work I’ve put in with them will continue to bring business my way. I’m happy to help anyone they refer, because I know they are quality referrals.
As a side note, if my A+ Clients hadn’t been able to qualify for a mortgage, I would have put them into a rental and kept in touch, because eventually (as Laura Rubinchuk Schwartz points out in a previous Lounge post), they would have become buyers. It’s a mistake for agents to place renters and forget about them. They just may be your next A+ Client.
By Brooke Wolford
In the past year since I started my real estate marketing company Organamx, I’ve noticed one growing trend: Many people have the notion that you can pay to somehow prove that you’re successful.
While you can pay for an amazing website, for placement on Google, and even for leads, spending money will never prove that you have experience. Your experience is at the heart of everything you do – how you conduct your business, how you behave when you interact with clients, and the value you provide.
If you want to get ahead and get the highest ROI for the dollars you invest in advertising, your website, and leads, then you have to prove to everyone around you that you can truly back up any claim you present.
Being honest is the greatest thing you can do. People like to deal with people who speak from the heart. Honesty creates trust very quickly. The most obvious way to do this is to not misrepresent your experience.
Some of the most successful people I know get the majority of their business from past client referrals. Referrals prove that you can provide a good experience. Nothing you pay for can ever prove that.
Your No. 1 priority should be working to create the best possible experience for your current clients. If you do this, your clients will be compelled to talk about you and use you for other transactions. Then use everything else (your website, online advertising, and social channels) to promote that you have the experience to get the job done.
Brooke Wolford is a real estate practitioner with Coldwell Banker Burnet in Woodbury, Minn. Follow her blog at www.thehousingword.com.
By Lynn Minnick
You’ve done all the prep work for a successful open house event: Every online venue has your open house details posted, signs are up, packets for buyers and potential sellers are prepped, the music is picked out, refreshments at the ready, you’ve thought about what questions buyers are going to ask, and you’re ready for them to arrive in droves.
What do you do when those buyers don’t materialize? (Yes, it actually happens sometimes!) Please, don’t spend those 2-3 hours playing Candy Crush, like a new agent recently confessed to me! It can be a really productive time if you plan and make the most of it. Here are some of the best uses of my downtime during open houses:
- Follow up and reach out to recent clients and/or sphere of influence. Either call, email, or write a note. Last February I sent Valentines to a list of my clients. My client list is my most valuable source of business.
- Expand your education via webinars or online continuing education. I finished my GREEN certification and CIPS classes online during quiet open houses. I only took the timed exams at home so I wouldn’t risk being interrupted.
- Execute or fine-tune your social media marketing. I’ve done blog posts, posted new photos, tweeted, posted to Instagram, Facebook, and even made videos of the houses I was hosting while onsite. I also read other real estate blogs, make comments, and look for new ideas to implement.
- Follow up with the buyers who did come by the open house right away. Continue reading »