The list of trade secrets and must-do's for real estate agents is a mile long. Technology and modern practices seem to evolve daily, and staying up to speed on what works for your peers is key to the growth of real estate agents and teams. But there are, of course, a few fundamentals you should keep top of mind to help your home sales increase . Here are three of them.
1. Don't Over-Complicate Things
This is a reliable rule of thumb for all walks of life. At the end of the day, real estate is a transactional business based on customer service. Once you've found a recipe for success that drives business for you, use it as often as you can. Obviously, that doesn't mean you should send the same email to every lead in your pipeline — but consider the cadence and process at a more basic level to see what has an impact.
Don't shortcut your processes, either. If you've found that a text and email combination are the best way to boost open-house attendance, you might think, "The lead will get both messages on their phone. I'll just send them the text message and skip the email." This might save you an hour or two a week, but you've cut out a real, dollar-productive step in your lead management process that's been proven to help home sales increase in the past.
Depending on your specific role and style, you probably interface with clients and prospects on a regular basis. The modern tools available to homeowners give them unprecedented information and purchasing power. For agents, that means re-focusing on the basics of service. It means being transparent and helpful as you work with clients on their journey to home ownership and providing them simple, honest service every chance you get.
2. Focus on Dollar-Productive Activities
Try this: in the upcoming week, take a moment every evening to write down how you spent your time (we know you're busy — it's OK to round up). How much of your working time was spent on dollar-productive activities? Maybe you spent the majority of your hours making calls, attending community realty events, and prospecting for leads.
But probably not.
Here's the more likely scenario: you had to block off time in your days for basic, red tape work. Make no mistake — focusing on the clerical elements of a sale are hugely important. They need to go off without a hitch for you to bring home the bacon and earn the reputation you want.
But if you're selling more than two or three homes a month, that paperwork can start to take up more time than you bargained for. Consider outsourcing some of the back-end work that you do currently to re-focus your efforts on the activities that boost your bottom line. Transaction coordinators and other partners to help your real estate operations aren't free, but the time they free up in your day-to-day could meaningfully boost your annual sales and be worth the investment fivefold.
Time is a resource that needs be spent wisely if you want to sell more homes, so leverage your real estate skills and take a hard look at how your time is spent. Evaluate the opportunity cost of doing clerical work yourself and see if there's room for more dollar-productive activities in your process.
3. Take Advantage of Smart Systems
Technology is used in every nook and cranny of the modern economy. Real estate is no different — just as home buyers are doing much of their research, paperwork, and scheduling online; leveraging modern tools as a real estate agent is a must if you want your home sales to increase.
Start with the low-hanging fruit: within your lead management tool or CRM, get comfortable with filters. They help you to customize your lead and audience groups and ensure that you're reaching out to tailored selections of prospects at the right time.Find leads by zip code and price range to send location-specific prospecting emails, or simply learn who's saved the most favorites of a certain style to recommend a new listing that matches their interests.
Even more basic are the internal systems that real estate agents (and their teams) use to improve. Ever have a call that didn't go as planned? Wish you could test follow-up tactics to find the most effective channel and timeline for response?
Putting procedures in place for you and your team to review what's working and what's falling short is one of the fastest ways to make agents better at what they do. The twenty minutes that the team spends reviewing their best and worst calls each week pays huge dividends for overall service delivery and leads to an increase in home sales and exceeded client expectations.
While this list just scratches the surface ofways you can sell more homes, it's tough to find a tactic that doesn't fit into one of these three categories. Carry these fundamentals with you on your day-to-day real estate journey to be a stronger agent.
Click here to download the guide: Refresh Your Real Estate Strategy