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Working Smarter in Your Real Estate Business

 Turning the Tables on Tough Times

You may now have the time to take a look at your real estate business.  Are you using your time wisely? Are you tracking your business? Are you aware of the sources of your business? What’s working and what’s not?

 Some things to look into:

Time management: Identify your priorities. What days will you work? You must have time off for family, friends & yourself if not burnout will ensue and you will begin to hate what you do.

Are you spending your time on income producing activities, generating leads & developing new business? Are you prospecting… the “new” prospecting on Facebook & Linkedin can be alot of fun! Forget the Do Not Call List and contacting strangers! Become online friends and the world will open up to you!

Marketing: Are you tracking your advertising? You need to know that the dollars you allocate to advertising are producing for you. Oftentimes we find ourselves advertising in the same magazines  because “we have always done it” and if not some other agent will get our space and our leads. Are there really any leads? You won’t know unless you source your business.

The most important thing about marketing is measuring your results. Marketing without measuring results is wasted money. Ask your customers how they found out about you or your property. What made them come to your open house … the directional signs, postcards ? When you get a buyer lead, what website did they find your property on?

 ASK QUESTIONS!  This equates to doing your research so you know what produces the results for you.

Without knowing where your business is coming from you are probably wasting money. Part of  a good marketing plan is constantly reviewing the sources of your leads and comparing return on investment.

Marketing Partners: Look around in your community. Are there any other businesses that you could partner with to do marketing? Consider the related service providers that you use. Lawyers, title companies, inspectors, lenders are all looking for the same customer – the homebuyer!

Using Technology to Increase Your Business : Your customers  expect you to be tech savvy. You must have a smartphone and be responsive to your prospects requests. If you do not respond within 30 minutes your prospect is likely to be contacting other agents. The first one to call and/or email back is likely to become his agent.

Todays challenging environment requires that we all roll up our sleeves and take this time to tackle the areas where we can improve our businesses, our lives and our communities.

This entry was posted on Friday, May 1st, 2009 at 5:48 pm and is filed under Agent Talk. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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