Starting out as a new real estate agent can be a daunting task. You have no prior sales to point to, and no past clients to recommend you. So you buy leads, work your sphere and gradually make connections – but it’s work. And costly.
Most agents leave the real estate business within five years. The ones who survive see their income rise, with less cold calling and more business from past clients and referrals. (Sounds good, right?)
- Focus on relationships, not transactions. A fraction of your leads will turn into a transaction. Your hard work has paid off, and you’ve got a commission check coming your way. Great! But if you focus on creating a lifelong relationship, not completing a transaction, your name is more likely to come up when someone asks, “Do you know a good real estate agent?
- Offer to help busy agents. Veteran agents often have more viewings, buyer inquires and open houses than they can handle! Offer to come help at an open house with any spillover attendees or even manage a weekend viewing and you’ll get to gain presentation experience while filling your database with attendees.
- Capture and reply to new leads automatically. Being the first to reach new leads greatly improves your chances of securing their business. The best way to improve your “speed to lead” is by delivering online leads directly into your CRM. As they arrive, have an automated email or text response sent from your CRM or lead management tool like Fivestreet.
- Work smarter, not harder. Stay in touch with your new customers or open house attendees with automated drip marketing campaigns. These campaigns provide periodic emails or texts as well as personal reminders for you to call and check in. You’ll find yourself tracking customer engagement within your database, growing your repeat-and-referral business and relying less on prospecting and leads as time goes on.
- Provide valuable follow up. Rather than sending “hey, how’s it going” emails, send follow ups with useful MLS info for homeowners, sellers, and buyers. For example, recent home sales in their neighborhood, generated by Market Snapshot, provides relevant, interesting updates and is a great way to stay memorable and show your local market expertise.
Real estate is not an easy career, but it can be rewarding. Keep at it!
