Episode 82 – How Can a New Real Estate Agent Grow Their Business
Episode 81 – You Must Respect Your Customer / Client’s Time
March 29, 2017
Episode 83 – FREE eBook: 8 Steps Local Small Business Owners Need to Take to Make $100,000 in Profit
April 3, 2017
How Can a New Real Estate Agent Grow Their Business
Grow Your Local Small Business By Being True to Who You Are
In today’s episode: We discuss advice I give new real estate agents on how they can build their new business. However, the advice is great for any new local small business owner. Whether you are introverted or extroverted, the key is finding something that works for you and stick to it!
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Episode 82: How Can a New Real Estate Agent Grow Their Business
Welcome back to the Local Small Business Coach Podcast. I am your coach, Tammy Adams.
Today we are going to take a look at the various ways a new real estate agent can grow their business. However, it only takes one, done very well to build a great business.
Hey everyone, welcome to question Friday.
For today's question, I want to answer one that I get asked all the time by new real estate agents wanting to take their real estate career seriously and build a business. The biggest question they like to ask is, “What is the best way I can Get Lots of Deals?”
They want to know if they should have a website? Should they be going door to door? Should they be doing open houses? How about networking? Basically, asking about every type of marketing they have heard others mention they do. So, I thought I would take the conversation I just had with someone and share with you what my thoughts are for new real estate agents who have be running into roadblocks on growing their business.
But, please know that this isn’t just about real estate agents. I could have this same conversation with any local small business owner. The same principles apply regardless of your business. So hopefully, those of you looking to grow your business can get an idea or two from what I’m about to share.
You see, all of our businesses have some tried and true methods to drive new business. In real estate, the ones I mentioned above, just happen to be the most popular. Your goal is to identify what is most common in yours.
ALL METHODS CAN BE EFFECTIVE
Ok, let’s get back to this agent I was speaking with. Once the agent brought up all the various methods and wanted to know which I thought they should focus on, I told them, that the answer can be a simple as, yes, you need to do all of those things.
Each method can be very effective. I then named off a different agent in our office who was effective at each of these marketing ideas. But here is where most agents get stuck. They become overwhelmed by having to do so many different things to build their new business.
So what happens is, they end up dabbling in all of them and making zero to little progress. Eventually becoming disheartened and soon they start to give up all together. I watch it happen all of the time. Folks with lots of potential, that flame out before they can spark that fire.
NOT ALL MARKETING IDEAS WORK FOR ALL PEOPLE
You see, the problem is, the worse thing a new agent should do is, A) Attempt to tackle everything at once and B) Not realize that all these marketing ideas will work for them.
The reality is, all of these marketing ideas don't work for everyone. For example, if you just take open houses, I can tell you that some agents kill it on open houses and some agents do a horrible job with them. Sure, sometimes it is due to one person having a better process than the other, but I’m talking above and beyond that.
You see, open houses fit some personality types better than others. While everyone is capable of going through the motions of an open house, there are some agents that are naturals and others that will never get a single lead.
Why is that?
In some cases, it is due to the lack of energy to even be there. What potential buyers are going to be drawn to this person? Sure, they will smile and be polite, but trust me, those potential buyers will be latching on to another agent they will come across.
The other key factor that plays into who tends to have more success with open house are personality types. Typically, extroverts have a much better shot at connecting with these buyers than an introvert does. Why? Because it comes more naturally to them to walk up to complete strangers and just start talking. They feed off relationships so they seek them out. They don’t think twice about jumping up and greeting them at the door and talking while they look.
Introverts not so much. They prefer to say hi, look around and feel free to ask if you have any questions. While they will be polite and nice, they aren’t aggressively trying to connect to these people. Unfortunately, nice, isn’t going to get these buyers the majority of the time.
USE THE MARKETING IDEAS THAT FIT YOUR PERSONALITY
So, what works best for introverts? Well, since I am one, I can tell you that I did not build my business through those open houses. I started on day one building my website. When I’m speaking to introverts, I often recommend they start a website for sure. They need something that folks can find to help pull them in. The problem with this marketing idea is, it takes a while to build a following. You also must make it compelling enough to cause action. To get the visitor to pick up the phone or email you.
How about post cards? They are great for someone that doesn’t like to shake hands and kiss babies. They are a great sales tool if done consistently.
Another great idea for introverts might be cultivating their one on one relationships. However, once again, this works better further down the line when your referral base has grown.
I do believe, real estate is more of an extrovert’s business, but introverts can build a great business if they focus on the right things. Introverts can excel at listings and extroverts excel at working with buyers.
FOCUS ON ONE THING AND MAKE A NAME FOR YOURSELF
When the agent I met with, asked me what I thought she should do to grow her business, I did what I always did. I asked what she enjoyed the most doing? Did she like going door to door? Did she enjoy the open houses? Or was she just sitting around waiting for her phone to ring?
It turns out that she actually enjoyed doing open houses. The problem was, she was only do them once in a blue moon. Instead of focusing all of her energy into one thing and building a solid business around it, she was hopping from one thing to another. She never gained any traction.
The key to this agent’s future success was about building a business model around doing open houses on a regular basis. She needed to study the best agents in our office who do these and more importantly, she needed to commit to at least 3 days a week doing them. She needed to make sure to keep them sacred and to schedule showings around them.
THE MISTAKE BUSINESS OWNERS MAKE
You see, the mistake that folks make is abandoning the marketing that got them the business when they get busy and they jump from thing to thing. Just like I mentioned earlier, they never get the traction from focusing on one thing and getting really good with it and building a good, strong, solid base.
For all of you out there, are you guilty of this in your business? Are you dabbling in all types of marketing and yet getting nowhere? Try to find your version of open houses. What is something that you enjoy doing? Focus on this. The more you improve your process, the more you fine tune your approach, the more you will gain traction. More importantly, when you get busy, do not abandon it.
MY ADVICE TO NEWER REAL ESTATE AGENTS
I started this episode by sharing the question I was asked, How Can A Newer Real Estate Agent Grow Their Business? The best advice I can give is short and sweet. Discover what marketing idea fits your personality the best: websites, post cards, open houses, door to door, meet and greets, whatever it is. Get, really, really great at it. Do it over and over until it picks up traction. Have a great follow up system that you work daily. Real estate is all about the relationships you cultivate. In can take up to 6 month or a year to get a lead converted to a client. Finally, you MUST go to WORK each and every day. Or at least 5 days a week. You cannot grow a massively successful business by thinking you can do it in only 10 – 15 hours a week. Your phone will not ring if you don’t let folks know you even exist. You must be doing something!
MY ADVICE TO ANY LOCAL SMALL BUSINESS OWNER
This goes for any of you. Your local small business needs to follow the same advice. Don’t make the mistake of trying to do everything. Don’t make the mistake of thinking people will just show up. You have to do something. You have to pick a lane and run as fast and as hard as you can.
If you are frustrated by the lack of business you are having, then change courses. The definition of insanity is going the same thing over and over and expecting a different result.
I hope this episode has helped spark some ideas. I challenge each of you to figure out that one thing, if done over and over, can lead to massive success for you. Identify what works best with your personality and then run with it. I promise, you will love the results you get.
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And as we wrap up this episode I want you to know, that I realize being a local small business owner can be a lonely gig at times. But you don’t have to do it alone. Just know, I’m always here for you.
By the way, If you like what we are taking about, then make sure to subscribe to the podcast so you don’t miss an episode, if you love the podcast and what we are talking about, then please leave a 5 star review so other local small business owners know this is a podcast that they can’t miss.
And don’t forget to visit the website at LocalSmallBusinessCoach.com to leave your question for me to possibly answer on the podcast in the future. You can leave it via the Speakpipe button or just shoot me an email.
Meanwhile, I wish you the best in your business and remember: Great Customer Service, coupled with Great business practices will set you on the path to Great Profits!
Bye for now…..
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Have a Question You Want Asked on Air? Shoot Me Your Question
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HELPFUL LINKS
Podcast Website: LocalSmallBusinessCoach.com
Leave your Message on the website with the SpeakPipe Button or just email me at Tammy@LocalSmallBusinessCoach.com
Our Training Materials for Local Small Business Owners: TrainingforLocalSmallBusinessOwners.com
Starting a Local Small Business Website: StartALocalSmallBusiness.com
My Recommended Bookkeeping Program for Local Small Business Owners: Freshbooks Link
Why? Helps you invoice quicker and more importantly, get paid quicker. Let’s you know when your clients have opened the email and they even help send reminders. Clients / customers can pay right from their phone or computer. Give it a Try: Freshbooks
**Freshbooks is an affiliate link. This costs you nothing. I only recommend due to how much folks have loved it. I am paid a small commission but trust me. Even I use it. Try it for free for 30 days and see if you don’t love it too!
Today's episode, as well as all of our episodes, is brought to you by trainingforlocalsmallbusinessowners.com. Where we provide free tips, tools and resources for your local small business. So whether you are just starting out or you've been in business for a while and want to learn more ways to increase your profit, boost your sales, improve your processes and develop stronger teams then head on over once again to trainingforlocalsmallbusinessowners.com..
And if you are Thinking of Starting a Local Small business, over at StartALocalSmallBusiness.com we have lots of free tools and resources to help you get your local small business started. Plus, we now have a more in-depth course to Help Get you going. It has 12 modules, 50 mini videos and 13 downloadable tools a person can use to start their local small business. You can find the link once again at StartALocalSmallBusiness.com. I also have set up a special discount code for listeners of the podcast. At checkout, just add the code PODCAST to save 25%.
See you on the next episode!
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Two Great Books to Help You With Your Small Business:
Highly Recommend all Local Small Business Owners Read the eMyth by Micheal Gerber. You will learn some critical things about running your business.
The second book is one I wrote based off a popular example I always use when folks are trying to understand their role as a leader with their people. Check it out.
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