Master Your Market
Successful people have another trait in common: they put a big emphasis on learning and development. For real estate agents, this means becoming a market master.
If you aren’t keeping current on what’s happening in the market, it’s probably negatively impacting your business. In order to be a consistently great real estate agent, you have to be in the know of trends, predictions and local insights.
“Develop real relationships with clients and make connections: sponsor a local team, be seen in the community, go door to door introducing yourself and inviting them to an open house you have in the neighborhood. Because most agents don’t put in that effort, you will stand out!” – Chase Michels, Baird & Warner
In order to help you do this, we recommend doing any or all of these:
Set Aside Time to Read the News
Make this a part of your daily routine. While you’re drinking coffee or driving to showings, listen to KCM Monthly Market Report, news shows, or real estate podcasts, so you’re always up on the latest market news. Your clients will appreciate your knowledge and insight!
Become a Fixture in Your Community
Real estate agents are one of the most important people in a community. Wear that proud! To stand out from the competition, don’t just slap your face on a bus stop and call it a day.
A wise person named Anonymous once said, “People will forget what you said. People will forget what you did. But people will never forget how you made them feel.”
Here are some great community opportunities.
- Join online community Facebook/Nextdoor groups
- Link up with local philanthropic opportunities
- Shoutout local businesses on social media
By being friendly and making people-to-people connections, even if they are virtual, with people in your community, you can create a reputation that goes beyond traditional marketing efforts. And remember, emotionally connected customers are more than twice as valuable as highly satisfied ones.
Go for Walks
Whether you’re walking with a purpose (exercise) or without one (taking the dog for a stroll), you get a more intimate look at your neighborhood.
You also have a tendency to notice things you probably wouldn’t while driving. For instance, maybe a longtime homeowner is fixing up their house exterior. They could be looking to sell and noticing this could mean being first in line to the listing.
However you spin it, being a local market expert is a key trait of highly successful real estate agents. If you position yourself as a leading specialist, your clients will remember. Any top agent will tell you that going above and beyond in your efforts will pay off-whether it’s gradual or instantly.
One of the biggest perks of real estate is that you set your own schedule. This is not your typical 9-to-5 desk job, and the flexibility is often a big draw for many looking to join the profession. However, that doesn’t mean you shouldn’t still treat your job like a 9-to-5.
Just because you may not have anything to do until noon doesn’t mean you can’t find something to do. Having a set schedule and holding yourself accountable is one of the top traits of prosperous people.
There are a lot of minutes in a day. If you maximize your efficiency and take advantage of them, you can accomplish more. It’s just math, really.
Pro tip: When it comes to repetetive tasks, set aside time once or twice per month and get it out of the way. This could be scheduling social media posts, posting to your blog, etc. Doing this can help you gain a lot of time back. There are many different social media scheduling platforms like Later.com that handle all of it in one place, even Instagram!
According to the National Sales Executive Association, 48% of sales people never follow up with a prospect.
Is your follow up game on point? Many highly successful agents are masters of the craft, finding creative yet productive ways to keep in touch with clients or leads. If you take your follow-up strategy seriously, you could greatly increase your client list.
However, there is definitely a method to the madness. As long as you’re providing value, your sales pitch should be seamless.
Because real estate is about establishing personal connections, your follow-up strategy is key to nurturing long-lasting relationships with your clients.
Want a little more motivation? Eighty percent of sales are made on the fifth to twelfth contact.
Agents struggle with phone calls, yet sales is a contact sport! We try email marketing, postcards, social media posts – everything except making a call. However, no contact with the buyer or seller equals no hope of closing a deal. The best habit for your business is daily phone calls. – Shelley Gallamore, Realty Executives Southeast
Pro Tip: Organize your clients and prospects into groups. Whether it’s by neighborhood, school district, competitor, relationship (friend, past client, lead, etc.), this can help immensely with your follow-up strategy. Check out our other tips with our post 5 Keys to Better Lead Nurture and Follow-Up.
These seven habits are a tried and true recipe for success in real estate. If you’re looking to be the leading agent in your market, there are some very simple practices you can implement into your daily routine to optimize your efficiency.
No matter their location, top agents have found success applying some if not all of these to their real estate sales strategy.
Essentially, it comes down to a “can do” versus “can’t” attitude. If you have the desire to be a better realtor, your potential lies in your daily habits.
Another big part of succeeding in the real estate industry is flexibility. Your sales plan for a six-month supply market is a lot different than a one-month supply, and you should be an expert on both.
The How to Succeed in a Shifting Market eGuide gives some great pointers on how to maximize your success, no matter what the market looks like.