Every agent should have a plan to find and convert more new business. That plan should extend over time and be tuned to the changes of the market.
As the property market changes, then we as agents should change. It is important to remember that we do not set prices or rents; the buyers and tenants do that. We are the marketing resource that helps achieve results.
Top agents are generally top marketers. That will be in many different ways. A planned approach to the market helps get the business day sorted and creates the consistency that helps with progress in both listings and clients. That is then a pipeline of opportunity.
Mistakes to Avoid
The idea of ‘planning’ sounds logical, and yet too many agents let the day ‘evolve’, thereby impacting or shaping their decisions, directions, and activity. That is where most agents go wrong. Control is essential.
Here is a basic rule that can help you in brokerage. Strive to control 50% of your day on key new business tasks and activities.
Make sure that controlled 50% is in the first half of the day. Any other matters of administration or meetings can occur in the afternoons or later. That basic plan is all about ‘personal discipline’ and establishing ‘habits’ in our business.
Your Real Estate Day
When you stick to a plan like this, you will get more progress around you with your real estate business. The morning is always the better time to get things done. It is a discipline and habit. How can that work for you?
The biggest challenge in commercial real estate is in establishing consistency of process for new business at an agent level. Staying consistently on task (your habits) is the difference between ordinary agents and those at the top of their game. Consistency creates results, and from that, you can make, check and track your progress.
Are you ready to grow your real estate business? Most agents when you ask that question would always say ‘yes’, however, the reality is that most still struggle with creating activity in a regular and consistent way.
Focus Real Estate Time
Most agents let the working day and week just ‘happen’. In other words, a focus on key facts and activities does not occur for them.
What’s the problem? They struggle with the ‘discipline’ needed in their working day. That then is a great opportunity for those real estate agents that can get things under control and stick to a consistent working plan.
A real estate career is one of discipline and direction. Focus on the things that matter in brokerage progress and business growth. That is where things happen. That is how you can get things under control and optimised.
Agent Action Plan for Growth?
If you want to get your real estate business under control (and thriving), then this base plan or working blueprint below will help you as a real estate agent, in some very positive ways.
1. Your Plan and Your Market
Set a focus plan for yourself and your property market. This is the first step in optimizing your real estate business. What can or should you be doing every day to find the listings and the clients that you need? That question is very personal as most agents will have their own answers. Drill down on what you think the question should mean for you. Consider your property market and your preferred property types. Where is your focus to be?
2. Action is Easy
Taking action is easy and that is where the results will start to come in for most agents. Sticking to the ‘action’ plan is however where most people struggle. Don’t ‘move the goalposts’, but stick to your plan of action for not just days, but months.
That word ‘consistency’ starts to come back again as the key factor to move ahead. Doing some ‘core’ things every day is the basis of progress in real estate.
You would know the things that should be done on your real estate day, and you would also know the things that you have been avoiding. Challenge yourself to get the right things done in your real estate business, regardless of other pressures with listings, meetings, and clients.
3. Adjust and Update
Refining and tuning your progress is part of consolidating your real estate business. As you do things, you will see what is working and what is not.
That is where practice and habits can take over and take you through the habits required to grow your real estate day and your listing inventory.
Habits are the keys to growing a real estate career. Doing the right things each day will take your real estate business forward faster. Set your momentum with new habits and ensure that you stick to your plan.
4. Track and Measure
Tracking conversations and connections is a good thing to do. When you watch your numbers from daily activity, you can see how things are happening for you and you will stay on task.
Understand and focus on the four or five key tasks that you know you should be doing. The important numbers to track would be calls out, meetings created, listings taken exclusively, and marketing money converted.
When these numbers start to consolidate and take some shape, you will start to grow your market share.
5. Conversations are Critical
Create conversations with targeted people and keep reconnecting with the same people every 60 to 90 days.
Relevance and regularity are two factors to put into your ‘contact plan’. That’s what top agents do. That’s where the results are.
So, think about your current database and the people in it. Are you regularly connecting with them? Are there enough people in your list, or could it be larger?
Get conversations going with all the people in your list and show your relevance to the investors and business owners out there. Through real estate tuned conversations, others will know who you are, remember you, and eventually trust you.
Top agents are trusted people that are known by many. What can you do now with these ideas to boost your database growth and coverage?
They are then the ways to win more real estate business for yourself as the local real estate agent. Put some consistency and new habits into your real estate day.
From these ideas, the actions that you set for yourself will take you forward (luck has nothing to do with it). You can accelerate that forward real estate progress by sticking to the plan of action and improving your habits and numbers. Devote the time and the skills to building your new real estate business.