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Real Estate News and Advice |
July 10, 2009 |
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 13 Strategies to Grow Your Business
by Robert Fore
The following 13 strategies to earning a high, six-figure income are not made up, theoretical strategies that may work in the real, rough and tumble world of real estate marketing. They are proven strategies that do work, and work in a big, BIG way. Need proof? Take a close look at any top producer and check off those that apply! 1. Have a Business Plan. You absolutely must, must, have a plan in place to make a success of the real estate business. How in the world can you get to where you want to go without a plan, a system designed to get you there? For that matter, how will you ever get to where you want to go if you have never taken the time to actually determine, specifically where that is? Do you have a plan... or ...are you just hoping for the best? 2. Leverage Yourself. Leverage can take many forms. For instance, you could choose to work with one couple for one solid weekend, driving them to-and-fro looking to make one sale... or ... you could delegate the showing out to your hired assistant and you could concentrate on adding to your listing inventory where, on any particular weekend, a dozen or more agents could be out driving their buyers to-and-fro to your listings where you stand to profit from multiple sales.
3. Maintain a Direct Line. A direct line is an absolute must in today's highly competitive environment. It lends credibility. It speeds things up. It ensures you get your calls without having to worry about the receptionist losing a message. Make getting a direct line a priority. After all, if you average $2,500 per leg and an interested buyer calls from a promotion you paid for and implemented... and the call gets transferred to the up-desk because you aren't available... well... need I say more? 4. Use Direct Response Marketing. Is there any other profitable way? Is there any other marketing method that makes sense? That pays the bills? That generates leads? Direct response marketing is the ultimate tool for creating leverage. Depending upon the media you choose to disseminate your message, you could millions of people all at one time! How can telemarketing or knocking on doors compete with that type of massive exposure? It can't! Remember the old adage, "The more you tell, the more you sell." Direct response marketing is the tool to tell the most for the least. Master it. 5. Hire a Personal Assistant. This relates back to leverage. It also relates to self-image and accountability. Let me explain. I can hire a sign placement agency to post for sale signs for $18 dollars a shot. It takes about an hour to place the sign. Now, if my goal is to make $100,000 next year, I have to be earning approximately $40 per hour. And this means I could not afford to work for only $18 an hour. Likewise... opening mail, making routine follow-up calls, going to the printers, designing house brochures and a lot of other time consuming, non-revenue producing tasks... should all be delegated to someone who has made the choice to be content with earning $10-$15 dollars per hour. If you think you cannot afford a personal assistant or that your volume doesn't warrant a personal assistant, might I suggest your volume is where it is because you lack help. Editor's Note: Suggested Reading 6. Prospect 90 minutes a day. You should prospect at least 90 minutes a day and by prospecting I'm referring to calling on FSBO's and Expireds or doing some other high leverage marketing activity like creating a global, Internet classified advertising campaign designed to drive more traffic to your site. Editor's Note: Suggested Reading 7. Maintain a Database of all Contacts. Studies have shown again and again that the gravy business comes from people who either know you or know of you. But, as the old saying goes..."out of sight, out of mind." If you don't maintain a system of consistent, persistent contact with everyone you know - it won't be too long before they'll forget they know you! It's your responsibility to develop, maintain, and nurture a significant center of influence... not theirs. One of our members maintains a database of everyone he meets and mails to them monthly. His current list numbers over 25,000! His monthly mailings are the only "marketing" he does... and he receives over 50 calls a day from interested buyers and sellers! Editor's Note: Suggested Reading 8. Qualify Buyers. First master the art of generating lots and lots of leads. Then you should "cherry pick" the best, most promising, most qualified prospects to work with and pass on the negligible ones for a referral fee. Protect your time at all costs, and that means spending the time up front qualifying both buyers and sellers. Chose to focus only on those most promising. After all, what good does it do to drive a prospect from house to house... hour after hour... using up gallon upon gallon of gas... only to discover that they don't or can't qualify? Editor's Note: Suggested Reading 9. Master Your Presentations. Every presentation you give that results in a closed transaction is worth a tremendous amount of money to you. Have you spent the time necessary to polish your presentation? Do you have a standard come back to every objection you might encounter? Have you learned how to close? Have you actually recorded one of your presentations to determine how you sound? You should! Editor's Note: Suggested Reading 10. Give Yourself Time. Strive to get 12 month listings if possible and obtain price reductions every 30 days. In other words, buy yourself time to market the property. Editor's Note: Suggested Reading 11. Call Your Clients Weekly. This basically is follow up and, if you're doing your job, if you're doing what you said you would do... there isn't any reason in the world why you shouldn't be calling all of your clients. I can't begin to tell you how many expired listings I've talked to who were primarily upset because of the "lack of communication" between them and their previous agent. And, as you know, the easiest way to make money in this business is through referrals and referrals will only come when you conduct your business in such a manner that literally compel people to tell other people about their absolutely wonderful experience with you. And, quite frankly, people don't have wonderful experiences with salespersons - they have wonderful experiences with friends, with those who are concerned about their needs and who care enough to communicate that care with them. 12. Make Yourself a Celebrity. People do business with people they know. Are you known? Are you known as THE local real estate expert? Use the press, make appearances, join club and become known. Make it a priority. Editor's Note: Suggested Reading 13. Educate Yourself. As you are already doing! Editor's Note: Suggested Reading Published: December 8, 1999 Use of this article without permission is a violation of federal copyright laws. 
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Robert Fore is the president and CEO for Realty Profit Systems. He is a nationally recognized marketing trainer and strategist who specializes in combining the proven principles of direct response marketing with the cost-effective, worldwide penetration of the internet. Realty Profit Systems publishes the Online Real Estate Marketing Report at