Five Habits That Grow a Real Estate Agent’s Business
82% of real estate agents are selected and hired by people they already know. Highly successful real estate agents practice five SOI activities each week that build top-of-mind presence and achieve sustainable business growth.
Think 5. 4. 3. 2. 1. Growth!
5
Call or text 5 or more different people each day.
Contact FIVE+ different people by phone or text each day in an organized, documented process. Just say “hi”, wish someone happy birthday, anything that simply extends friendship and warmth.
It is important to employ a “campaign strategy” mentality. Imagine you are running for office and you need as many votes as possible. Would you contact the same people repeatedly or five or more different contacts each day? The 5 contacts should not include current clients, recent clients, family members, and close friends, because they are already going to hire you, or already have, when they have a real estate need.
In your CRM (client relationship management) software, sort names by last touch, then contact the people listed showing the longest time since you last reached out to them. These contacts should appear at the top of the sorted list. Make a record of contacting each person so that the next day, the next most dated names appear. If you have 250-300 contacts, you will touch them four times annually when reaching out at this pace.
4
Social media posts and/or personal notes each week.
Social media posts can be about anything personal and fun, something about real estate, a property listing, or beneficial information about your community. Handwritten notes and birthday cards always brightness someone’s day.
3
Add or update 3 new contacts each week.
On average, 10 out of 100 people have a real estate need each year. A real estate agent must grow their SOI to grow their business. It starts by being active in the community, having a social life, meeting new people, and nurturing relationships.
The Math is Simple:
100 nurtured contacts should produce 9-10 potential clients.
300 nurtured contacts should produce 25-30 potential clients.
1000 nurtured contacts should produce 90-100 potential clients.
Adding and/or updating three new contacts a week will grow your SOI by 150 each year. Even better, add birthdates or additional contact information. There are two very big reasons why these activities are vital for growth:
The National Association of Realtors reports that 82% of real estate agents are selected and hired by people they already know.
On average, 10 out of 100 people each year will have a real estate need. This brings growing a real estate business down to simple math: more contacts means more deals.
2
Two hours of community time each week.
Becoming involved in three or four organizations holding meetings and activities each month will create multiple opportunities to interact with your community and wonderful new people to add to your SOI.
1
One social appointment each week.
Schedule one face-to-face appointment each week with someone new. Grab coffee, lunch, or happy hour with someone from church or one of the organizations in which you are involved. Over the course of a year, you will deepen bonds with 40 to 50 more people!
“I’ve followed the daily routines of hundreds of real estate agents over the years and have personally witnessed the correlation between agents who practice these habits and achieve consistent, dramatic growth, and those who don’t and fail. The achievers claimed control of their lives and prioritized their time and efforts in practicing these habits. Those who didn’t grow their business or failed outright, either didn’t consider these activities important or didn’t possess the social or organizational skills to do it. You have to be a doer, which is why many real estate agents are simply in the wrong business. As harsh as this may sound, if you are someone considering a career as a full-time real estate agent and are uncomfortable with these activities, you might want to consider another line of work.”
Five Habits That Grow a Real Estate Agent’s Business:
5 Calls or texts to different people each day.
4 Social media posts and/or personal notes each week.
3 New or updated contacts each week.
2 Hours of community time each week.
1 Social appointment each week.
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