Every year I make plans: to increase our sales, improve the service I give our clients, spend more time with my family, deepen my faith and maybe lose a few pounds.
Realtors® can chose from many different methods to guide their business: coaching, accountability partners, or close friends and family all can play a role. In the past few years, many real estate agents have turned to social media sites like ActiveRain or specialized groups on Facebook to learn leading edge, best practices, the newest and coolest and “must-do’s”.
Sometimes I find myself over-whelmed by the many, many ways that I could spend my time to sustain and grow my business.
And then comes the annual review: a time to reflect, plan, and make new commitments.
My broker has a very simple form for our business planning. Agents list out their transactions and remark on “source of business”. And every year, I have to chuckle at myself. Despite all the time and considerable effort I’ve made on learning to create an on-line presence — to migrate from “old-school” to “leading edge” marketing — most of my business comes from referrals. Some referrals are personal, others are from relocation companies or other businesses. But not a whole lot of churn and burn lead generation. Is this good….or bad?
So I ask myself, “what’s the bread-and-butter” of my business?
My local market is made up of middle to upper-end homes who’s sellers are typically middle-aged and older. Almost everyone knows at least half a dozen Realtors®, so home sellers typically go online to learn more about the agents they might consider. Some home sellers might gravitate to detailed market reports while others notice that an agent posts on Facebook about her animal rescue work. When I ask someone why they decided to call us in, it’s usually a vague “well, we see you everywhere and Sue Smith said you did a good job”. It helps to remember that I need a wide internet presence and a smiling face and a good track record.
My bread-and-butter business is made up of the sellers who value what I consider to be important to excellent real estate service: facts and figures, data analysis, rational decision-making, and the reputation of our firm. But it’s not all numbers: I give the best service to listings that are close enough to easily get to the house to turn on lights for a showing or fill the brochure box after a busy Saturdau afternoon. And I think it’s important to really know and love the communities you work in.
Certainly there are other types of sellers even in my immediate geographic area: those who love lots of personal interaction, or, on the other hand, those who want an agent who sells 10,000 houses a year at a discounted commission. Those aren’t my target clients….we would end up unhappy with each other.
Finding a good fit with buyer clients is a little different. Buyers are usually coming to my area from somewhere else…maybe the City of Chicago, or they’re transferring from another state. Buyers call in off of listings or the blog or website ads. In the beginning they just want to see a house. If I want to be chosen as a client’s buyer agent, I must remember that the relationship isn’t productive unless what I do matches what the buyer wants. It’s great when a potential buyer client calls in after a few months of reading my blogs or market reports, because by that time they’ve decided that we’re a pretty good fit.
Any service professional who works with clients over an extended period of time, like the buying or selling of a house, would do well to ask themselves “what’s my bread-and-butter business”?
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About Leslie Ebersole
Lots of great points Leslie! The chase for the “bright & shiny” can be very distracting, sometimes the tried and true works best.
Leslie, we need to do what works for our business. As long as you are learning the “new stuff” it doesn’t really matter if you are using it if what you are doing is working. If you have a change in your clientele at least you will be prepared.