I always encourage agents at any stage of their career to meet as many people face to face as possible, because that is the nature of our business. The more face-to-face interactions you have with buyers and homeowners, the more business you will generate. Sitting at a desk making a few hundred calls a week is pointless unless you’re getting out there and meeting people with a purpose.
Dollar productive activities are fundamental to your business because the majority of them create leads and opportunities which, over time, lead to listings and sales. In my opinion, there are eight key activities in which altogether you should spend a minimum of 50 per cent of your day.
1. Obtaining clean data of property owners
Think about the biggest companies in Australia and the world. Apple, Facebook, Commonwealth Bank. What’s one thing all of these companies have in common? They all have a huge amount of people’s data, which means they market to this data to keep their exposure level high and generate sales.
And being a real estate sales agent should be no different. Often the agent with the most data of property owners is most powerful, because he or she markets to this data, services and builds a relationship with this data, which often creates opportunities to list when a particular owner is ready. Without data, we have nothing to service and build relationships with. So from now on, whenever you speak to someone for the first time, try and obtain their data. There are four pieces of information you want:
- Full name:
- Mobile Number:
- Home Address (if owner):
- Email Address:
2. Call sessions and prospecting
Real estate is a numbers game, so try and speak to as many people on a daily and weekly basis as you can. Book in as many appointments as possible with buyers and homeowners. There are 11 types of prospecting calls that can be made:
- OFI follow up calls
- People who attend auctions
- Past market appraisals
- One, two and three year+ OFI
- Just listed
- Just sold
- Email enquiries
- A, B & C sellers
- Market report/CMA/people who own in your area
- Old/neglected database contacts
To date, I’ve never seen a database that hasn’t got some amount of old or neglected contacts. Don’t be afraid to give these people a call, even if you have no idea why they’re in there. Often these contacts are a little pot of gold and you just never know what you will come across.
3. Door knocking
This is a great way to get your name out there and get noticed by the public. By speaking with as many homeowners face to face as you can, you’re able to obtain their data and qualify them much easier than over the phone. It’s always harder for people to object and say no to you in person than on the phone. When you door knock, you should have two goals in mind.
- First goal is to obtain full data so you can service them.
- Second goal is to look for people who are ready to list.
4. Servicing local owners and buyers
From the moment you come in contact with an owner or buyer, have a goal to service them better than any other agent. If you do, you’ll build a better relationship and you’ll earn more trust. Even if an owner tells you they’re not selling for 10 years, have a system to supply them with relevant information over time. Here are a few ways to service both buyers and sellers.
- Just listed properties (owners and buyers).
- Just sold properties (owners).
- Offer other agents’ stock to buyers.
- Saturday afternoon open home and auction summary.
- Monthly/quarterly market report (owners and buyers)
- Price update once every six to 12 months (owners).
- Offer tips/ideas on improving value of their home (owners).
- Market report/CMA to owners.
5. Market appraisals/price updates
The more doors you get into, the more opportunities you’ll have to sign up listings in the near and distant future. Have the mindset of generating market appraisals even if people aren’t thinking of selling, because it’s a great way to either kick off a relationship or build on one.
In cases where an owner isn’t thinking of selling, it’s rare they’d get two agents through. If you’re able to be that agent who gets in the door, it makes it extremely difficult for any other agent to get in. And if other agents can’t get in, it will mean you’ve got the potential to build a better relationship than anyone else if you follow up and service that owner with relevant information in the months and years to come. And as we all know, the agent with the best relationship goes a long way to winning business.
6. Holding world-class open homes and auctions
Before owners even start interviewing agents to sell, some will do their research through the way of attending open homes and auctions to see how agents present themselves and the properties they’re selling, handle themselves in front of buyers, and how they perform on the auction floor. Dress to impress, be as helpful to buyers as possible, and always have a smile on your face. Try and have two agents at every open home, one at the front taking details and the other inside selling the features and benefits, as well as answering any questions a buyer has. On the auction floor, talk to buyers and negotiate with them when the auction starts to slow down. Show your vendor and onlookers that you’re there to get the very best price. If there does happen to be a potential vendor in the crowd, you’ll be seen as that agent who actually cares about achieving the best outcome, not just a sale.
7. Listing presentations
This is your time to shine. Wow the customer. Go prepared and dress well. Energy from the start is crucial. First impressions last. What helps win listings are two things: relationships and a point of difference. Be genuine and authentic – don’t be a robot. Explain your process on achieving the best possible price. Ask lots of questions and listen to the customer and their needs/wants. Offer tips and ideas on presentation when you’re at the property.
In most cases, agent’s commission and marketing will be similar. So what’s going to set you apart from your competition? That world class relationship you’ve been working on over time (I hope), and you. What makes you different from the other two or three agents the owner will interview?
8. Listing and selling property
You’ve won the listing. Now your last dollar productive activity is to provide vendors and buyers with six-star service. Your vendor is paying you to do a job, so keep them up to date with everything you do – no matter how important or not you think something is. Service them like you were selling a family member’s property. Even if you don’t get a magical price, if you’ve kept them informed and up to date every step of the way, and they’ve never been in a position wondering what was going on, there’s a good chance they’ll refer their family and friends to you.
If you provide a buyer with outstanding service, when they eventually buy something – whether it’s through you or another agent – they’ll never forget how you went above and beyond for them. Then moving forward, when you start the nurture and service process for that buyer’s new address, it won’t be awkward and they’ll likely respond in a positive manner due to the high level of service you gave them when they were a buyer.