Now is the time for innovation and creativity. As our market continues to change it is even
more critical to look at how you are running your business and determine where
you are getting results. Additionally,
you should look at others and see how they are getting results. Analysis of your business as well as your
competition’s should be an ongoing practice for you to grow and thrive in any
Areas that you should be considering are: How are you marketing? How are you expanding your database? How are you attracting new business? How can you grow your business? Are you educating yourself? Let’s review
From a marketing perspective, have you embraced social
media? What are you doing to use this
venue to market yourself, your listings and obtain new business? What are other venues that are available to
get you results? Do you utilize drip
marketing campaigns to your sphere and new additions to your database? Are you offering seminars to your clients and
the public? Seminars you ask? Yes – home
buyer seminars, tax credit seminars, now – move up buyer seminars, investor
seminars, short sale seminars, and there can be more – innovate and create!
How are you expanding your database? Are you working business to business avenues
to grow your database? Are you involved
in BNI or other business development groups? Are you involved in associations such as
alumni, exotic cars or other areas of interest you may share with others? Do you have the ability to invite people to
subscribe to your website to get market updates like Listingbook offers? Are you giving back to the community? Are you involved in a charity? Have you started a food drive, coat drive,
book drive, or Toys for Tots campaign to help others…get creative and get in
front of others to grow your database!
How are you attracting new business? We spoke about seminars in the marketing
section but have you offered anything else “free”? Educate yourself and then educate others. Also, think of other avenues to create
opportunities for yourself. Offer a free
home warranty when you buy or sell a home through you or your team, offer free
staging when you are utilized to sell a house, or a free home energy analysis
to your sphere or anyone they know, or anything else like this you can think of
to make your phone ring? What if you
offered a reduced commission when you sell your home and buy a new one through
you type of marketing campaign? Get the
word out on what you are doing to get new business – it is out there but you
have to go get it – it won’t come to you!
How is your business growing? Have you considered starting a team? Have you thought about merging with another
team or perhaps acquiring one? There is
a lot of talent out there just needs direction to be successful in this
market. Do you have systems and
processes in place that can help others grow?
Are you generating leads that you can’t handle? Start a referral network if you are in this
situation – don’t lose these extra opportunities. Are you partnering with your vendor partners
or business associates to offer incentives to your clients and theirs to create
new opportunities? Are you writing
reverse testimonials for each other? Are
you looking of opportunities in the market to grow your business in this
Are you educating yourself?
If so, how? Are you obtaining
designations? Many agents put their head
in the sand and say they won’t do short sales or foreclosures. Well, they are here to stay and will be for
the next few years so get a designation such as CDRS so you can handle them more
effectively and efficiently and to learn more about the process to determine if
you should work with the agent on the other side of the transaction. As the world gravitates towards social media,
perhaps you should earn your E-Pro
Certification Designation. If you have
always been a listing agent and you see the benefit of working buyers or you
see the first time buyer market as a viable market for you – get your ABR. Are you attending seminars? If you attend seminars – are they varied or
are you only going to hear one speaker?
Are you reading publications, blogs, attending conventions, trainings,
mastermind groups, etc or are you just maintaining the status quo as far as
your educational development is concerned?
The best way to innovation is through education.
As you can see, if you are creative or innovative, you can
come up with ideas that are better than these or expand on the ones
presented. You need to take the time to
analyze opportunities that are out there.
Also, speak with other industry leaders in the business and see what
they are doing or what they hear others are doing to grow their database,
market themselves and their teams, how they are attracting business and growing
their business. Also, conduct your own
research on line, read publications, attend your Realtor association events,
attend builder events, etc. to learn more about your competition and how they
are growing or more importantly, not growing in today’s market. Basically do something! Get it?
Got it? Good!
Now, go sell something!