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Realtors Think Like a Business & Become One

Do you Know your Numbers?

We get into the real estate business with little business training. All businesses must have goals and a plan delineating how they will achieve their goals. In other words, you must know the steps to take to achieve the goal.

To achieve the income you desire you need to know:

• How many leads you need to generate
• How much money you need to generate those leads
• How much support staff you will need to service your business
• How many contacts it takes to get an appointment
• Your average sales price / commission earned

You must have appointments with buyers & sellers and you must convert these appointments to listings and then to sales. There are a set of skills you must master to be successful in real estate; the skills to convert leads to appointments & appointments to listings.

 Lead Generation is Key

Here are some ways to begin lead generation:

• Call your sphere of influence
• Call expired listings in your farm area
• Contact past clients
• Meet with banks
• Develop relationships with allied businesses
• Walk neighborhoods
• Attend community & social events
• Hold seminars

Most importantly talk about your business. Listen to the people you are talking with and ask for the business. So many times we do everything right but then never ask for the business!

This entry was posted on Monday, October 5th, 2009 at 9:53 am 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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