Attracting new business is the life blood for any business, in particular for real estate agents to ensure your agency stays profitable.
Sometimes this might be hard to accomplish and ideas on how to jump start your business can be tough to come by.
Luckily enough we have spoken to a number of the top selling agents from last financial year here in South Australia and they have each given us their top three tips for attracting new business while also telling us how they spend their working week.
What are your top three tips for attracting new business?
Approximately 75% of my business comes from repeat and refer clients. This is only achieved through having excellent results and successful outcomes for your clients.
It’s really important to understand your client’s motivations as a vendor, how to maximise the value in their property, and to make sure that you can promote it in a way that will give them the best opportunity in the market place.
Strong communication is the key; making sure your clients have a really clear idea of what to expect, and feedback on their property and campaign.
Presenting feedback is often about negative things. How you deliver this is important, so it doesn’t come across as offensive, but will help the vendor see their home from a buyer’s point of view.
Demonstrating that you go above and beyond is important. This may be with early calls in the morning or late at night, or showing a buyer with little notice. Be real about your follow up with clients and the interest you have.
It’s easy to establish a good, ongoing relationship with clients and it’s also very important in having a successful business. I have events throughout the year that clients are invited to, as well as sending out Xmas cards.
Whenever I get referred, I make a point to thank the referrer, as they really put themselves at risk if the event goes pear shaped. While I don’t share details, I thank them with a gift, and let them know the outcome of the event.
Facebook has been a major source of new clients, as it provides a bigger platform to be noticed; and third party endorsements are excellent. Vendors and purchasers love to share their successes, and exposing lifestyle properties works well if you can have beautiful photography to show off.
Open houses are another avenue to attract new business. Being warm and friendly sounds so basic, but it’s those first impressions that are lasting.
Taking buyer details and making sure you follow up, determines the future opportunities that will come. For example, building a relationship with potential buyers is part of the process around helping current sellers. It serves you and your vendors at the same time; so, how you deal with prospective buyers/potential sellers is your time to shine and stand out.
What does your usual working week look like?
- Im in the office by 8.30 am
- Have a team meeting daily for 15-20 mins
- Call backs from open houses 9-12 pm
- Vendor reports and meetings 1-3 on Mondays and Tuesdays, and appraisals 1-7
- Open homes mid week (lunch hours or 5-6pm time frame for properties)
- Prospecting my data base and 30 day list
- Negotiate as offers close, pre-auction meeting with vendors,
following up on appraisals, and listing appointments
While there are many more activities going on within my business unit, i have other team members whose job descriptions cover these. My main focus is on listing, prospecting and negotiation.