You want to make sure you’re putting your time, effort and energy into lead sources that will actually get listings. In my Coaching Tip today I’m going to tell you why your last 50 listings tell you more about your business than anything else.
Look at your lead sources for your last 50 listings. A lot of agents will say that their database is their lead source, but that’s just where you store those leads. Lead sources include open for inspections, buyer inquiries, past clients, market appraisals, your existing personal network, or results from marketing campaigns.
What you want to do is learn to play to your strengths. If you know your key lead sources you can attune your diary to working them. For example, if you have several thousand properties under management, that’s a significant lead source. Those landlords own investment properties as well as their own home, and 8% to 9% of them will change their investment mix each year. If you already have that kind of lead source, why would you focus on cold calling to try to get market appraisals?
The 3 major lead sources are open for inspections, past clients, and your personal network. Just working those leads will make a huge difference to your business. A lot depends on how you first came into the real estate industry. If you started in leasing and moved up into sales you already know people who own property that they bought through an estate agent. That agent has a loyalty program with those people and that’s already an incredible relationship.
If you already know people who trust your brand, then it’s up to you to call them up, make the appointment, and go do an annual checkup on their home. The last 50 listings you’ve won will show you your strengths. Make the decision to get strategic about how your business generates leads, and stop wasting resources on activities that don’t work.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.