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Thursday, December 19, 2024

It’s that time of year…

When we take a moment to look back at our previous year’s successes and shortcomings,

and get our adrenaline running for the start of the new year.

If you had goals or a business plan for 2017, this is your opportunity to compare last year’s plan with what you actually achieved, and learn from the difference.

If you haven’t written a business plan before and find the thought of doing so overwhelming and off-putting, I’d like to change your mind.

You don’t need a degree in business to write an effective business plan.

But you do need a path to follow.

In fact, statistically people who follow a business plan or establish set goals are nearly twice as likely to successfully grow their business than those who do not.

So how do you put a plan together that’s easy and will have you excited about the coming year?

I’m going to tell you how, but first to stack the deck…

Statistics on the Power of Goal Setting:
  • Goals that are written down are 50% more likely to be achieved than unwritten goals.
  • Sharing your goals is proven to increase the success rate of achieving them.
  • The world’s most successful people agree that what you get by achieving your goals and plans is not as important as what you become in the process.
  • Our brains are wired to achieve goals.
  • The act of writing down a goal or business plan is a very powerful motivator.

Now that I’ve warmed you up to the idea…

It’s time to rock out a killer 2018 business plan!

Step One: Determine your income goal

What income goal gets you excited to dive in an attack the new year?

Pick your number, then pull together a few additional numbers from 2017. This is worth a few minutes of your time. The results will be powerful and create a breadcrumb trail right to 2018 goal success!

Numbers to gather include, average commission earned per closing, average percent of sales contracts written that close, average appointments needed to obtain a listing.

Step Two: Complete your one page plan

Use our simple, online “2018 Real Estate Business Plan” to complete a few easy calculations based on the numbers you have gathered above.

Step Three: Calculate your sphere of influence

Since statistically 66% of a Realtor’s business comes from your sphere of influence. It’s time to determine how many people you need in your sphere to achieve the goals you have outlined above.

Use our easy online Sphere of Influence Calculator (from a desktop computer) to get a quick answer to this question.

Step Four: Create a strategic marketing plan

Now that you have your numbers, it’s time to create a strategic marketing plan for 2018.

Remember the 3-7-27 Law of Prospecting? Well it’s the key to your marketing success.

The foundation of this law states it takes 3 contacts for someone to recognize your name, 7 to associate your name with your business, and 27 to become a brand name in your market.

An ideal marketing plan that assists you in adhering to the magic of 3-7-27 is our done-for-you Master Marketing Schedule.

It’s a strategic month-by-month plan for the entire year that covers marketing for, listing inventory, niche marketing, geographic farming and sphere of influence.

Using the Master Marketing Schedule, takes the task of planning a years worth of direct marketing, from overwhelming to easy.

The future is now

With the above tools, and your killer 2018 business plan in place, your path to conquering your goals in the new year is crystal clear!

Is your adrenaline pumping?

The ProspectsPLUS! Team are your biggest fans! We are here to help you succeed in 2018. Please reach out to us if there is anyway we can help you at  866.405.3638!

 

 

 

Your Bottom Line Depends On It

by Julie Escobar

An agent’s ability to earn consistently and continuously earn referrals is in direct proportion to their willingness and ability to stay top of mind with their sphere and farm.

Consistency. Since the beginning of real estate there have been agents that send one or two massive mailings and when they unsurprisingly get no results, stop marketing.  Many others take the “holiday” approach to staying in touch by sending an annual holiday card in the hopes that they are remembered. Both of these approaches are a waste of time, energy and valuable marketing dollars.

To stay ahead of the curve, you should be in contact with your sphere of influence at least every 30-45 days. Using the popularlisting-inventory send-call-see approach (part of our free BusinessBASETM), you can easily set up a system for contacting your VIPs each month. Send a postcard, letter, newsletter, flyer, novelty or note one month.  Many of our customers find the Listing Inventory Series, Content Cards, and Market Dominator among their favorites.

One other series that is growing in popularity is one of this month’s Master Marketing Schedule tip which are our Call to Action Postcards which include powerful direct response offers call to actionthat help make your phone ring!

Once you’ve gotten in the habit of “touching” your sphere and farm once a month, be sure to deploy the call part of send-call-see.

Call with a friendly event reminder, helpful hint, or just to say hello the following month. During the third month, arrange to see them via a networking event, social gathering or quick in-person visit (with notice, of course) where you drop off a small token, informational item or card. Then start the “rotation” over again. Such consistency creates vital ‘top-of-mind’ awareness that often becomes “the key to the kingdom” when growing your referral base and creating a reliable income.

If you’re not sure where to start, our popular Master Marketing Schedule shares monthly Action Items that agents tell us help them stay consistently on track.

SEND-CALL-SEE.  Be the resource they need and want in a time where consumers have LOTS of questions regarding the value of their property, their buying power, investment opportunities, and what’s happening in their market.  You’re not bothering people – you’re providing a SERVICE.

What can you SEND?

What can you SAY when you CALL?

  • Hi.  I have buyers, the Smiths (insert real names!), that are looking for a home in the _____________ neighborhood, and I wanted to know if you’ve ever thought about selling your home or know someone who is so I can help this nice family find what they are looking for?
  • Hi!  Just checking in on you! We’ve got a lot of activity in our market, and I thought you might have some questions—do you?
  • Is there anything I can do to help you?
  • I’m expanding my business and I could use your help…
  • Have you thought about selling your house now or in the near future?
  • Have you been receiving my information?  Any questions?

What do you do when you SEE them? 

  • Create opportunities for appointments
  • Take someone to lunch
  • Attend a neighborhood block party
  • Organize a charity drive in the community
  • Sponsor a free workshop and invite everyone to attend
  • Get out there and be visible in the community you’re servicing
  • Walk your farm and start making friends

Working ON your business requires dedication and a commitment to the activities that earn you top dollar and allow you to “feed” the career you’re building. Never lose sight of the fact that prospecting, presenting and closing should always be at the top of your list.

Visit http://www.prospectsplus.com/ to get your FREE copy of our BusinessBASETM (Plus learn the 250 people who should be in your SOI), and be sure to bookmark our Master Marketing ScheduleTM .

Go for it. Remember that we’re here if you need anything. Contact our team today at 866.405.3638. 

Take the March Challenge! 

By Julie Escobar

Why leave all the “March Madness” stuff for the basketball fans?  This month, we’re looking at ways to inspire agents to take the ACTION they need to drive their numbers and build momentum.  That means being pro-active, and working ON your business as well as in it.  There’s no doubt agents are increasingly busy, but when they fail to time-block for business-driving activities like prospecting and database building, they often fall into the commission-chasing category as opposed to having a steady business and referral stream they can count on.

Statistics tell us for every twelve people in your sphere of influence that you regularly connect with, you can expect a deal or referral per year.  That’s valuable information to know. Yet, how come so many agents lose business because they failed to stay top of mind and connected with their sphere?  And when you find a farm that has the a healthy turnover and you’re NOT actively marketing to that area? You’re leaving money on the table.

Here are three pieces of great advice for getting ahead in this business:

International Speaker and Coach Darryl Davis: “I tell my students and coaching members to focus on the activity rather than the results. Why do people fail? Because they don’t see immediate results. So, they do what? They QUIT. When you switch your thinking to focus on the ACTIVITY, not the results, it helps you get past the fear. Think of it like baseball averages. Ballplayers know the more times they get up to bat and take a swing, the more likely they are to get a hit. After a while of playing, they know their numbers… their average. The same is true in prospecting – you’ll get to know your numbers. So maybe out of 10 calls, you get five connects and two appointments. I tell my students that their goal should NOT be to get the appointment; it should be about building relationships. Why? Because it takes the pressure off.  Focusing on getting an appointment is a win/lose scenario. If you don’t get it, your reaction is, “I lost. I’m bad.” When you focus on building a relationship, every call is a win. The truth is, you’re not going to get an appointment unless there’s trust. By building relationships, you build trust – and the appointments will happen by themselves.”

Power Agent Denise Buscemi, Florida:  “My advice? Several things. First, remember when you are meeting customers and clients, make everything you do be about that person and only that person–the rewards will naturally follow. Next, read more – be a lifelong learner. It makes you more competitive.  Be a great listener – not only does it make you a better communicator, buyers and sellers will tell you everything you need to know to help you close the deal.  Send the postcards that keep your name in front of them. Do your homework and always go the extra mile.”

Power Agent Kathy Casarin, Pennsylvania: “I would say first, there are no timeouts for replays!  Engage your client get back to them fast whether it is on Facebook, email, in person or a phone call.  Don’t wait or you’ll find they’ve already called upon someone else. Next, assure your client you are the professional. You are experienced, successful and know what works and what doesn’t. Earn your clients trust upfront. Become your absolute best at communication. Keep your client in the loop every step of the way, whether it is periodic emails as to how their listing is doing vs competitors.  Make that phone call to discuss price, home improvements, showings, open houses etc.  Regular contact reassures the client you haven’t forgotten about them or their listing or the homes they want to buy… so when you have to advise them on say a market adjustment on home price they agree and know it is in their best interest because you are always with them to get this SOLD. Stay current and do what works.  The truth is it all works–but only if you do it — so don’t forget to post on your social networks, answer real estate questions on Trulia, use ProsectsPLUS! to send out postcards, attend social gatherings to see and be seen and be that constant reminder to say, ‘Hi! I’m in Real Estate!’”

Our challenge to you this month? 

  1. Calculate your SOI. See how many people you need in your sphere to hit your goals this year by
    heading over to our SOI Calculator.
  2. Thank people. Send Thank You Postcards from our Customer Appreciation Series to at least 100 people on your sphere of influence list this month.
  3. Pick up the phone. Make at 20 calls per day to your sphere of influence. (100 per week is a big goal!) There are some really fun connectivity ideas on our Master Marketing Schedule if you’re looking for interesting reasons to connect! Consider Darryl’s advice above if you’re nervous about talking to people.
  4. Knock on at least 100 doors. Use door hangers so that even if folks aren’t home they’ll know you were there. According to the Master Marketing Schedule, March 12th is National Flower Day, it might be the perfect time to attached a packet of flower seeds to your door hangers and walk your farm! Have some fun with it!
  5. Add 100 people to your database. Now, this one may sound hard, but it doesn’t have to be. Some agents are on top of their game, adding new people all the time. But a LOT of agents that we talk to don’t really have a handle on their lists.  Hire a college kid or virtual assistant for a short-term project to get this done. It’s one of the most important things you can do as an agent. Here are some sources that you can pull from:
    1. Past purchased lists. (Think of all those Just Listed and Just Sold postcards you’ve sent out. Have you done anything with those saved lists you’ve purchased? Put them all in a database and use it to send Listing Inventory postcards or Neighborhood Update/Free Offer Postcards)
    2. Past buyers and sellers. Hand over those files to someone who can pull all those contacts and put them into a database for you. These people already have trusted you enough to do business with them.
    3. Get creative. Download our BusinessBASE, to see the 250 people who should be in your sphere and start adding.

It’s a good month to go above and beyond. To stretch yourself, your goals, and your reach in your community.  Take some time this week to plan your calendar then go for it. We’d love to hear how you’re doing.  Connect with us on Facebook (and be entered into our March Contest), or leave a comment below.

Need help? Our marketing team is amazing! Call them today at 866.405.3638. They’ll walk through any questions you might have and help you get your marketing on track! Have a great month ahead!

Creating Your Own New Normal for 2017

By Todd Robertson

If you’re like a lot of top agents, right about now you’re analyzing everything you did in past twelve months to get you to this point and asking yourself a few questions:

  • What worked and what didn’t?
  • Did my actions support my goals?
  • Did I earn what I’m worth?
  • Did I take personal responsibility for my success or failures?

By carefully analyzing the past you can discover the elements that you can take into the new year and create
your own new “normal”.  In other words – you can advance your game, play at a higher level, and avoid the pitfalls and hurdles you’ve already cleared to excel faster and with hopefully a few less headaches!

As you approach the new year, many of you are in the process of goal setting.  Let me share a four step system for goals that is used by some of the top performing entrepreneurs in the world.  It’s called the DOME strategy.  Here’s what that stands for:

  • D – Stands for Decide. If you look up one of the definitions of the word decision, you’ll find that it means to “cut off from”.  That’s step one for creating your new normal. What things should you cut yourself off from that aren’t working or haven’t
    dominator janworked for you this year?  Whether that be a mindset, a skill, or a system, what can you unplug, cut off, or change up that will increase your success in the new year.
  • O – Stands for Outstanding. There’s never been a more important time to play at an outstanding level.  That means to surround yourself with the best people, strategies, solutions and systems in our industry.  Model your choices on those of top producers.  Duplicate excellence.
  • M – Stands for Momentum. Now’s the time to take the stance that what gets scheduled – gets DONE.  That’s how you build momentum.  By cutting out the things that don’t work. By plugging in new systems and solutions that drive your business in smarter ways.  By blocking your time so that you can streamline your processes – as well as schedule those
    things that help you create balance.
  • E – Stands for Tell Everyone. Once you’ve set your goals for the next twelve months, it’s time to tell everyone. If you’re goal is 10 salable listings in your pipeline at all times or to own a geographic farm – tell everyone you know. Put public pressure on yourself to hit those goals. People will help you when you do. They’ll support you. Remind you. Work with you to make them happen. Then commit to doing whatever it takes to make those goals happen.

Next, remember to be BOTH a Hunter and a Farmer.  Top agents realize they have to both aggressively prospect as well as create opportunities for lead generation by branding themselves in a geographic farm.  In fact, I just spoke with a great new Market Dominator customer, who will finish this year with 100 closings.  I asked him why he decided to use the Dominator to brand himself in the markets he’s going after for the new year.  He told me it was because he needed to raise the bar.  Because he was capable of helping more people than he was currently helping and he was committed to doing that.  That’s why he chose to use the 12 x 15 Dominator as his marketing tool.  It’s a statement that tells potential sellers in his farm area that he’s serious about marketing.  Serious about getting results. Here’s what’s interesting:  90% or more of the agents in your market won’t be willing to make that commitment. Most will continue to do what has always been done and get the results that they’ve always gotten.  But some of you?  Will step outside the norm to create a new normal.  Some of you will raise your standards, raise your skill levels, and raise your commitment. And in the process – you’ll go beyond what’s always been done to develop a career that others will emulate.

Ready to create your new normal and put a plan in place to take 2017 by storm?  Go for it. Remember that we’re here if you need anything.  Call our team at 866-405.3638! That’s what we do best! 

Steadily Getting Ready for a New Year Ahead

by Julie Escobar

I love the Seneca quote, “Luck is what happens when preparation meets opportunity.” Or Floyd Wickman’s quote, “There’s nothing special about special people it’s what they DO that makes them special.”  What a great time of year for agents.  So many of our friends and clients are deep in preparation for the year ahead. Building marketing strategies, laying out budgets, meeting with mentors, and sharing ideas.  These are the folks that will not only finish out this year strong, but hit the ground running with a passion as we enter a new year and keep right on going to make 2017 their best year ever — long before it even starts.  How cool is that?

For our part, at ProspectsPLUS!, we are doing the same.  From our Master Marketing Schedule, (which you can download directly to your Google, Apple or Outlook calendars), to a line up of great new series, products and services for the year ahead.  We know that agents today need every tool they can get to compete in challenging markets, and we’re passionate about delivering those tools.

Now when you’re making your marketing list and business plan for 2017 (and checking it twice), please let us know how we can help you maximize your goals for the new year.  Here are just some of the things we can deliver:5 ways to build equity

  1. Fresh ideas  – Our Master Marketing Schedule is a strategic marketing plan specifically for real estate professionals which delivers powerful strategies and solutions every month to connect with your sphere, find cash buyers, work with investors, saturate your geographic farm, automate your just listed or just sold postcards, and even gives you some fun ways to stand out and be noticed in your market area.
  2. Brochures, Flyers and Free Reports — We know how important having the right collateral at the right
    time is when you’re prospecting, presenting and closing.  These tools lend authority, put stats at your fingertips, spotlight you as the resource, and give additional credibility.
  3. Postcards — We literally have hundreds and hundreds of postcard templates on our site that cover the gamut with over 22 niche marketing categories to choose from.holiday-cards-16
  4. Newsletters — Done for you newsletters which make a perfect ‘touch’ point for your sphere of influence.  You can
    customize however you want, or just run with as is.  All the copy is ready, timely and perfect for delivering relevant content to your customers.
  5. Market Dominator — Our powerful new system for capturing a 20% market share in a geographic area within a two-year time frame.  There’s nothing like it on the market!
  6. Business Cards — From cool new QR Code cards to branded cards — we have a wide selection at a great price to make sure you have what you need.
  7. Door Hangers — These are perfect for your geographic farm or for area FSBOs and Expireds. Easy to
    order and use and priced for any budget!fsbodoor hangers
  8. Data — Our MapMyMail system is amazing for finding the right list of prospects for what you need.  Investors, first time home buyers, move up market candidates — you name it.

That’s just the tip of the iceberg!  Visit our SPECIALS page today (and bookmark it!) — so you can always keep tabs on the latest promo codes, new marketing tools and fresh insights!  We add anywhere from 5-8 new pieces to our site each and every month!

We offer gift cards as well! Thinking about giving the gift of marketing this year or putting it your wish list? See the holiday specials now!

As always, we’re here to help.  Our marketing team is experienced and well versed in what today’s real estate professionals NEED, WANT and will make their lives and jobs EASIER.  If you’re creating your marketing budget for next year and would like some guidance on which tools might work best for you and what that cost would be, call our team today at 866.405.3638 or email us at pmc@prospectsplus.com!

 

Gift Giving (and Saving) Just Got Easier!

Get or Give the Gift of Marketing with the ProspectsPLUS.com Gift Card!

Perfect for Today’s Busy and Competitive Real Estate Professional.

Here’s why:

  1. There’s no need to store a credit card number
  2. Reap the tax benefits of purchasing your marketing tools in advance
  3. Perfect for allowing assistants access to your account without the need for a credit card
  4. Great incentive item for teams or top producing agents
  5. Save marketing dollars
  6. Easy to purchase and to redeem
  7. Use for one transaction or multiple transactions until balance is depleted
  8. Never expires
  9. No fees

Get yours today!

Prices:

$50 for $45
$100 for $90
$150 for $135
$200 for $180
$500 for $450

Visit us today to get yours!  For higher denominations, or assistance, please phone our marketing team at 866.405.3638!

Webinar button on keyboard with soft focus

We had a great webinar last week where Todd Robertson shared some terrific strategies, ideas, and tools for owning more market share, hitting every goal you ever set, and finishing the year strong.  We wanted to share it on demand for all of you who did not have an opportunity to join us!

Need help? To learn more about how we can help you fuel your business, streamline your systems and take your career to the next level, call our marketing team today at 866.405.3638 or visit our website www.prospectsplus.com.

Real Estate Agent Success

Insights from the Front Line with Ramona Williams

By Julie Escobar

When it comes to knowing EXACTLY what real estate professionals, and specifically our ProspectsPLUS!
customers want and need to grow their businesses in today’s market, I knew that there was one person who would be perfect to interview. My closest friend and always one of the smartest people in the room, our Director of Business Development, Ramona Williams.  With both an MBA and more thirty years of experience working with real estate agents and brokers, she’s the go-to resource for insights and ideas.

Here’s what we learned:

Q:  You are on the phones with customers every day, where do you think agents are needing the most help in terms of marketing their businesses and their listings?

A:  Consistency – hands down. That’s honestly where most agent’s marketing breaks down.  One and done listing inventory snapshotmarketing doesn’t work, never has and never will.  Secondly, what hurts agents is having no strategy at all.  That’s not a new problem of course. That’s historically where agents fail to grow their businesses, and why so many don’t make it.  Unfortunately, the majority of agents try lots of little things, including whatever the “shiny new idea” is in the office at the moment and never commit to anything consistently.  The result is they end up all over the place in terms of the message they are sending out into their market, and they’ll actually spend considerably more money trying every new thing that comes along than they would if they just put a solid, strategic plan of tested direct marketing that works in place and stuck to it.  Consistently sending branded, direct response marketing every 21-45 days to a sphere and farm is still the best means of driving results in our industry.

Q:  We’re seeing a huge rise in agents using EDDM® as a means to strategically market for less – what is your take on that and what advice do you have for others eager to do the same?

A:  I think Every Door Direct Mail® is a terrific way for agents to cover a large geographic area because of the Dominator April 16lower postage costs.  It makes it really affordable for agents to get back to those basics like working a geographic farm.  What I really like about seeing agents return to geo-farming is that it helps them focus their marketing efforts. For a long while we saw agents just chasing the next deal. They’d follow internet leads wherever they took them – sometimes driving hours to take a listing.  EDDM helps them to find a geographic market area that makes sense for them and literally get in every door. When used consistently, it creates a much more predictive business and income model than constantly chasing new business.  Here’s what else I can tell you – the great agents get that. They know that it’s not only OK to be in control of their marketing and business, it’s a must if you want to create a consistently growing business with commissions and referrals you can count on.  I think so much of the time you see agents who look at the business of real estate as risky to start with or unpredictable because it’s commission based.  So their mindset is that their business is supposed to be all over the place, or unpredictable as well.  Savvy agents know that real estate is a business and can be a very lucrative one if they treat is like it is and work a plan.

Q:  What product do you see the most demand for in today’s market?

A:  I’d say in most areas of the country inventory is still historically low, so agents are looking for any vehicle that can help them get listings.  So we’re seeing a lot of EDDM, Just Listed postcards and Just Sold postcardsjl js cards (which are great for pulling double duty – marketing the listing and the agent), our Market Dominator, Listing Inventory cards, FSBO and Expired tools, and our Neighborhood Update/Free Offer cards. The last take a little more work to input the listing data, but it’s what consumers want to see, and they make direct response offers, so they work.  Again, it’s getting back to taking control of your marketing.

We are also seeing an uptick in agents struggling with pricing listings correctly and that’s where your eBook 21 Ways to Get Your Listing Priced Right the First Time (Despite the Seller’s Objections) is a terrific tool that’s really affordable and filled with the kind of objection handlers agents need today.

Q:  You and I go way back in this business – we won’t say how far!  How do you think the market has changed and what do you think agents can do to best get in front of those changes and be competitive?

A:  You know, surprisingly, it really hasn’t changed all that much.  Our business is and always be cyclical.  What is different, of course, are the amount of technology options agents have and how many different organizations are selling to them.  Many of which are amazing and game-changing solutions for agents, no doubt. It does, however, make it really easy for agents to take their eye off the ball and look for that “magic pill” that will skyrocket them to success.  While that’s understandably tempting, the keys to being the top in your field is the stay focused, build inventory, price listing right, have a strategic plan, and find areas you really enjoy working and stay the course.

Q:  Excellent advice! You work with top producers and high volume teams quite a bit as our Director of Business Development.  What are some factors from a marketing perspective do you think they deploy that allow them to continuously rise to the top?

A:  Much like we just talked about, top teams and top agents don’t roll the dice with their results. They build their businesses exponentially by putting systems in place so things don’t fall through the cracks and understand and implement the power of consistent marketing.  In other words, they don’t wait and they don’t shy away from marketing at high levels.  They prioritize immediate lead generation, but they also have systems that allow them to build their brand and their businesses long term.  They are also typically service-minded professionals.  They take excellent care of their customer base, and communicate effectively and often with their sphere and farm.  That’s smart business.

Q:  Awesome. Any last words of wisdom for the readers?

A:  Well I guess I would say that this is truly a great industry where people can make an excellent, lucrative living that is relatively affordable to get into with a strong return on investment.  I would tell them to be strategic, consistent and be mindful of who you model yourself after.  You and I have both seen, countless times, agents who have been in this business 3, 4, 5 – even 10 years or more in this industry and have never put a sphere of influence database together.  While some may do all right at that, it makes you really wonder where COULD their business be if they had put that basic but so important piece in place? That’s a lot of missed opportunity and money left on the table.  I’d challenge agents to not do the same.  Get back to the basics.  Have a plan. Use strategic, consistent marketing (both in terms of timing and branding) to build your inventory, price them right, follow up, and take care of your book of business and your farm.

As always, you’re a tremendous source of advice for today’s professionals. What’s great for our customers to know is that you’ve done such an amazing job of both training and managing our support and marketing teams that they have incredible skills and insights as well and are wonderfully adept at helping agents and brokers figure out the best plans for them, and helping them strategically implement those plans every day.  Kudos to you for that!  Thanks for sharing!

If you’d like to connect with a member of Ramona’s team, you can call them at 866-405-3638 or email us at pmc@prospectsplus.com.  They are eager to help make your job – and your life a whole lot easier!

How to Use Lifestyle Interest Data to Attract New Real Estate Customers

As we kick into high gear for the spring season, we wanted to revision our training webinar-on-demand featuring Lifestyle Interest Data.  We were thrilled to share some how-to’s, answer some terrific questions, and even spotlight how simple it is to build a list of prospects that you can use again and again to work with the customers you most want to attract.  Using specialty data to target consumers such as boaters, golfers, tennis enthusiasts, do-it-yourself home improvement fans and more – and then expertly matching your marketing messages to those data segments is a great way to find the real estate hand raisers in your market.  For those of you who missed it or just want a quick review – we’ve got it on demand for you to watch below!

Want to learn more about putting this marketing strategy in place? Contact our marketing experts at 866.405.3638 today! 

 

Insights and Strategies from Real Estate Coach Darryl Davis

By Julie Escobar

Since the dawn of real estate, it seems we’ve been hearing phrases such as, “Listings are the name of the game” or “List to last.” While those sayings are as true today as they’ve always been, we caught up with our old friend and real estate coach Darryl Davis to learn why “just listings” aren’t enough to propel your way to the top and stay there anymore. Today’s agents need to focus on building listing INVENTORY if they want toDarryl Davis 06 stay in the game and compete at the highest levels. Here’s an excerpt from our interview:

Q: Darryl, you’re teaching your students and coaching members that they need to step up their game in terms of building (and keeping) listing inventory. Can you share a little more about that with our readers?

A: Sure! First, I like to share the WHY – WHY it’s important to build and maintain listing inventory. I’m a big analogy guy, so I sometimes ask agents to think about their friends, family members or neighbors and what they make. You know, a lot of times you don’t know exactly how much other people make, but you have an idea, and sometimes you think to yourself, “I know I make more than that, but they have more than I do or don’t seem to struggle as much as I do.”

Two words explain that: cash flow. See, those other folks are usually salaried people with consistent income, so they can budget and plan their lives around that. In real estate, we don’t have that. Most agents run their business in surge-and-drought mode – right? But it doesn’t have to be that way. If I asked every agent reading this if he/she had a consistent $5,000 (or whatever your number is) every month, would it make your life less stressful? The answer is 100% yes.

Q: That helps put it in perspective, doesn’t it? So there’s the WHY. Can you tell them HOW building inventory solves their surge-and-drought problem?

A: Yes. I like to tell agents to focus on listing inventory rather than listings like this: Imagine you’re selling shoes listing inventory 2instead of houses. If you want to sell shoes for a living, you’ve got two choices: One is to get a store, some racks and some shoes, and promote your store… right? The second is to find a buyer who wants to buy shoes, put him/her in your car and drive around to every shoe store in town until he/she finds the perfect ones. Get the picture?

Here’s the thing: Every time you put a buyer in your car to show a listing that’s not your own, you’re basically taking that buyer to another agent’s “shoe store.” You’re essentially becoming an “employee” of sorts for that other agent. Bottom line? No inventory = no business.

Q: Great analogy. Can you expand on that?

A: Think of it like this: You’ve got six listings or, for this purpose, we’ll go back to shoes. So you’ve got six pairs of shoes, and you put four under contract this month. YEA, right? That’s terrific! Well yeah, it is – BUT dominator marchlook at your inventory. You went from six to two. When you close on them, you’ll have a surge of cash, of course, but if you don’t replenish your inventory, then you’ll head into a drought. To create continuous cash flow, you have to at least MAINTAIN or, better still, INCREASE your inventory.

Let’s say you’re brand-new, and you want to build inventory by one per month. You start out month one with one listing. Month two you get another. Month three you get another, but you close on one. So that means month three, you have to get TWO to make up for the one under contract and keep your inventory up. If the average commission is $5,000 per listing sold, and you start with zero and focus on building your inventory by one per month, you should be able to earn $100,000 within 12 months.

Q: It helps to put it in dollars and cents, doesn’t it? It’s more than just the money though – it’s about managing time as well, right?

A: Exactly. When you think like a businessperson instead of solely like a salesperson, you can balance your time. I’ll give you an example: I’ve got a student who earns a quarter million per year and takes two full months off every year to spend with family… two full months! Now if he owned a shoe store instead of a real estate business, would he close down those two months? Of course not. He’d hire a manager to handle things. In real estate, if you don’t have a “store,” or inventory, that can sell while you’re away, you can’t take time off. No inventory = no income, no time off. Lots of inventory = consistent income, ability to take time off.

Q: Love that… treating your business like a business. What a concept, right? Darryl, you’ve always been real estate fsbo marketing postcardsamazing at teaching agents how to succeed by marketing to FSBOs and expireds, but recently you’ve been sharing why it’s important to stay top of mind with a book of business and geo farm as well. Can you tell me more about that?

A: Because the worst of the housing market crash is mostly behind us, we’re going to see more and more people come into the market in the next few years. Because of that, it’s important for agents to have a consistent marketing campaign. People need to know your name, your face and what you do for a living. I still say working with FSBOs and expireds is a great way to generate listings fast – simply because they’ve already identified themselves as the hand-raisers. That said, think of your business like a wheel – the more spokes you have, the more efficient the wheel works. You eventually hit a point of diminishing return, or too many spokes, but it’s important to find the balance. One or two spokes isn’t enough to generate business momentum.

I’ll give you another example: I have a student named Marty who makes a six-figure income. He lives in South Carolina, but his business is on Long Island. He goes to Long Island once a month to take listings and meet clients. He can do that because one of his “spokes” is a mailing campaign that he sends out consistently to his sphere and farm promoting himself, his business and his listings – all while living in another state! THAT’S the power of staying positioned consistently with the right marketing tools.

Q: Wow! That’s incredible. One of the things our readers tell us is tough for them is following up. They’re either afraid of it (picking up the phone) or don’t make it a priority. Can you share some secrets to success in that area?

A: I would say focus on the activity rather than the results. Why do people fail? Because they don’t see immediate results. So they do what? They QUIT. When you switch your thinking to focus on the ACTIVITY, not the results, it helps you get past the fear.

Think of it like baseball averages. Ballplayers know the more times they get up to bat and take a swing, the more likely they are to get a hit. After a while of playing, they know their numbers… their average. The same is true in prospecting – you’ll get to know your numbers. So maybe out of 10 calls, you get five connects and two appointments. I tell my students that their goal should NOT be to get the appointment; it should be about building relationships. Why? Because it takes the pressure off.  Focusing on getting an appointment is a win/lose scenario. If you don’t get it, your reaction is, “I lost. I’m bad.” When you focus on building a relationship, every call is a win. The truth is, you’re not going to get an appointment unless there’s trust. By building relationships, you build trust – and the appointments will happen by themselves.

Going back to the last question, one of the things I like best about consistently sending out mailings is that it helps agents “warm” those calls – which makes follow-up easier, because you have something right off the bat to talk about.

Q: I love the title of your new book, How to Design a Life Worth Smiling About. I just downloaded it and can’t wait to read it! Can you tell us about it?

A: Absolutely. It’s got a lot of fun content in it, and people seem to love it. You know, I ask agents all the time, “When a homeowner lists their house with you, what do you think they want as an end result?” I get a variety of answers, of course. “To sell the home.” No. “To get the most money.” No.

Tune in, and take it all a step further. When you’ve been in the business a while, you’ll often hear homeowners say something like, “If these walls could talk.” They’re not selling a house – they’re selling their HOME. Shelter is the second most important thing to people. They’re leaving the comfort of shelter and going into an unknown. When you’re the agent who can tune into that and realize that every client you help is heading into a new chapter in their lives – and you are a part of that – don’t minimize the powerful impact. Great agents help change people’s lives for the better. When you get THAT… you’re no longer selling.

Q: Darryl, any last words of wisdom? 

A: The money we make is actually the thermometer as to how many lives we’ve helped. Focus on the lives you can help, and the money will come.

Awesome insights, Darryl. Thank you so much for sharing with us. I look forward to reading your new book and, as someone who’s known you more years than we care to count, I know all of your students, coaching members and audience members are fortunate to learn from you. Your ability to help people both laugh and learn is extraordinary.

About Darryl Davis

Darryl became a real estate agent at the age of 19 and quickly climbed the ladder to become a top producer, averaging six transactions a month. He became a licensed broker and manager of a new office that became the #1 listing and selling branch within its first 6 months of operation. He’s been named one of the highest-rated speakers at the National Association of REALTORS® convention for the past several years and is the ONLY real estate speaker who is a best-selling author with McGraw-Hill Publishing for his book, How to Become a Power Agent in Real Estate. He is the founder of The POWER Program®, a yearlong real estate coaching program that has proven results of agents doubling their income over their previous year. He’s also the creator of the nationally acclaimed three-day program S.U.R.E. Results, where agents generate an average of $33,504.82 over their previous year. And as creator of the nationally recognized term “Next Level®,” Darryl strives to bring his students and attendees to their “Next Level®” of success by training them on how to have more fun and less stress in their business and personal lives. To learn more about Darryl and his training tools and services, visit www.DarrylSpeaks.com, or contact him at 1-800-395-3905.

To learn more about staying in consistent touch with your sphere and farm (as Darryl teaches), visit www.prospectsplus.com, or call our support team at 866.405.3638 today. 

 

 

 

 

 

 

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