Real estate is a profession with a high attrition rate. Some of this can be attributed to lack of preparation – getting your real estate license is very easy, and the process isn’t set up to ensure that you’re qualified for this business.
However, many other real estate agents have the potential to be amazing, but they defeat themselves. Here are five ways to avoid washing yourself out of a great career – and to instead become a superstar real estate agent.
Combine Online and Offline Marketing
Newer agents are very focused on online leads and online real estate marketing. That’s great, but the solid, effective practices of traditional real estate marketing are still important. Yes, have a website, a blog, social media, and even Periscope. But make sure you balance your efforts with postcard marketing, door-knocking, cold-calling, and many other traditional techniques.
Many real estate agents rely on online marketing as a crutch – they simply don’t have the confidence to meet people face to face, and so they convince themselves they can do everything online. It’s isn’t true. Not only that, but your lack of confidence will show itself online as well – hiding isn’t doing you any good.
Overall, as a real estate agent you need to build a network quickly. Your regular sphere of influence is a great start, but you need more than that. By doing neighborhood farming, knocking, and calling in addition to your online efforts, you’ll make better connections and get your name in front of prospects regularly. That will make a big difference in making you a successful real estate agent.
Practice Self Care
I don’t want to get too “woo-woo” on you, but taking care of yourself is vital if you’re going to be a superstar agent. One reason so many real estate agents drop out in their first year or two is that they simply burn out. Yes, it’s fun to commiserate about never having any weekends or time off, but it’s not a healthy way to live.
What’s an agent to do, though, since they DO have to work so many nights and weekends? My suggestion is to simply schedule yourself into your calendar like you would any client. Put three one-hour blocks per week in your schedule, label them “private”, and use that time to take care of yourself. A long lunch at your favorite restaurant, a pedicure, or even a nap can fill that time. Whatever it takes to nurture you.
Don’t let anyone intrude on that time either! You wouldn’t double book with another client, so simply tell folks that you already have an appointment at that time and suggest another option. You can’t serve others if you don’t take care of yourself. If you want to excel in real estate, consider yourself a client too.
Make Goals and Write them Down
When your goals are right in front of you each day, it’s much more motivating and it’s easier to focus. Make goals in more than just your real estate practice – have goals for business, family, finances, education, mental and spiritual health, and physical health. You don’t need five goals in each – that would be overwhelming – but knowing your top two in each area is helpful.
One reason it’s important to make goals in multiple areas is that it helps you remember you’re a multi-faceted person. Yes, you are a Realtor® and you want to succeed. But you are also a whole human being, and in order to be a great Realtor® you need to be a balanced and healthy person.
As you write down your goals for your business, take time to think about the steps needed to get there. You can use these steps – written down, of course – to help guide your daily and weekly schedule. If you need 10 listings this month, think about how many calls that is. Break it down and do enough each day to reach that total. By breaking each goal into steps, you’ll be much more likely to succeed.
Understand that Boring Repetition Creates Momentum and Success
Yes, it’s tough to make the calls every day, to send the postcards every week, and to do outreach and door-knocking. It seems boring and repetitive. However, remember that to succeed in real estate you need repeated success – listing after listing, sale after sale. The only way to get repeated, consistent success is to put in repeated, consistent effort.
One thing I notice about small businesses of all kinds, including real estate, is that there’s always someone out there who wants to sell you a shortcut. They want to tell you that you can avoid the boring repetition of real estate marketing and outreach, and simply become successful while resting on your laurels. I promise you, the only one getting rich on that strategy is the huckster. Don’t fall for it.
Anything worth doing has its exciting elements and it’s boring, repetitive elements. However, the ongoing work is what brings ongoing success. Don’t stop marketing because you made a few sales, unless you don’t want to make any more sales! Keep marketing, and you’ll keep making sales. Simple as that.
Don’t Waste Leads
I’m ending on this one because it’s astonishing how often it happens, and it’s so damaging to a real estate agent’s success. You get leads in so many ways, it’s very easy to let some – or many – of them slip through the cracks. Do you get a list of buyers from an open house? Do something with that! Don’t just let it languish.
One way to make lead capture easier is to use automated systems. I’ve talked before about how I use Infusionsoft to capture my leads and how it brought my revenue up 472%. Whatever system you use, use it consistently and you’ll find that your business is immensely more successful. Track every lead – social media, email, phone call, personal interaction, and more – and follow up. You never want to waste a lead.
I’m amazed how many Realtors® “wing it” when it comes to lead follow-up. They just seem to hope they remember to call or email the person. Sometimes they do – and sometimes they forget until it’s too late. Don’t be that person. Have an automated follow-up system so you don’t leave any money on the table with your leads.
These are five ways you can become a Realtor® success story, instead of another dropout statistic. Combine your marketing techniques, take care of yourself, write down goals, understand the impact of boring repetition, and don’t waste leads. Your success is right in front of you – go take it!
What habits ensure your success in real estate? Share in the comments!