Five Powerful Tips to Build Your Real Estate Business
All is not equal and fair in the real estate business. Before you considered a career in real estate you saw people being very successful, but might not have seen the less successful agents in the business. There’s a difference between agents who are making good money and those who are struggling from month to month. Top producing real estate agents set high standards for themselves and spend the majority of their time either actively prospecting for new business or closing sales. Those at the top understand the importance of prospecting for new business and make that part of their plan each day. Here are some tips to help build your business.
Ask for Referrals
You may feel uncomfortable asking for referrals but this is something that can be learned as you interact more with your clients. A good time to ask for a referral is at the end of your transaction. Especially if things went smoothly and you’ve built a good rapport with your client. When a sale on a home closes, the mood is jovial. This is the time to ask for their friends and acquaintances that might be in the place to buy or sell. Write the names down and follow up.
Reward Your Advocates
You will earn many advocates as you work with more clients. If your customer service is top notch and your transactions are on point, the people you have already worked with are your best advocates. They will want to sing your praises to others. If you have people that are referring others to you and those sales are coming through, you definitely want to reward your advocate with a gift card, gift or even cash.
Strike While the Iron is Hot
Prospects have an expiration date. You want to be sure that once you are given a referral that you make contact quickly. Each day that goes by gives that referral a chance to find someone else to help them with their real estate transaction. Be sure you are keeping good records of who you have contacted and when, to keep potential clients from falling through the cracks. Also, if an advocate has referred someone to you, the time is right for them to buy or sell.
Schedule Time in the Day for Phone Calls
The morning is the best time to make phone calls. Your day can get busy and hectic and you will be more alert and clear minded in the morning before you have 20 other things on your plate. Try to avoid selling during these phone calls but focus on creating interest, gathering information and making an appointment to get together.
Don’t Take Rejection Personally
As with every action that requires somewhat of stepping out of your comfort zone, there is the chance for rejection. Don’t be personally offended by a rejection but use it to learn from. Have time to reflect on what was said or not said that led to the rejection. Don’t let a rejection or two stop you in your tracks. Perseverance is what will help you out in the end.
Prospecting for new business is probably one of the hardest parts of real estate especially when you are first starting out. It is easy to get discouraged and give up. Don’t give up. Make it a part of your daily routine and the fruits of your labor will pay off.