REAL ESTATE CAN BE A MINEFIELD, particularly when you’re new in the business. With the dawn of a new year and with many fresh-faced agents joining the fold, it’s important to start off on the right foot. High-profile real estate coach and trainer Josh Phegan has some top tips on how to jump-start your year.
Sometimes, the problem lies in just knowing where to start. When you are new, knowing how to build momentum and how to achieve success isn’t always clear, and it’s all too easy to stumble when setting out.
But following a few simple yet highly effective techniques can help new agents navigate those early, treacherous waters.
There are three things new agents should focus on to really hit the ground running.
Write a list of every person you know. Once you’ve made the list, use mapping software, such as batchgeo.com, to gain a tangible understanding of where your contacts live and where your key markets lie.
Now it’s time to work those relationships. I’m not talking about a one-off phone call to a contact that you subsequently leave languishing in the ‘never to be phoned again’ pile, but a true client that you phone every time someone lists or sells a property of a similar type that might affect the value of their home.
Learn your listing presentation. If you can list you will last in real estate. Listing techniques are relatively easy to learn and really have the ability to turbocharge your prospecting results. One option is to shadow a high-flying agent, preferably from your own brand, and learn what to do and what not to do from them.
Learn basic prospecting questions. Everything you do in your business revolves around prospecting and communicating with potential clients. In all your interactions your goal is to move your client forward, whether that is to book an appointment or list their property.
When it comes time to grow your client numbers it’s important to keep this question front of mind: Where do your potential clients hang out before they need you?
Open homes offer a vast resource for finding and establishing new client relationships, and I urge the agents I coach to attend at least five inspections each Saturday.
Buyers are often also sellers, whether that is the case immediately or in the future. Call people who have been through your open homes during the year and ask them if they are still looking for a property.
You can also build your client numbers by calling past clients who were originally serviced by agents who have since left the brand. These are some of your best prospects and are the perfect place to start your call lists.
Mining your personal networks is another great way to find potential sellers. Think the school council, parents of the children in your daughter’s netball team and the owner of your local milk bar.If you know them, put them in your database.
A third client-generating avenue to focus on is successbased marketing of properties you have just listed or sold in the local area. Whether it’s a hard copy, email or video, make sure as many people as possible know your results and your name.
While your goal is to fill your database, it’s also vital that you keep it organised. You need to know which buyers are now sellers, which residents are now landlords and who might be on the verge of relocating.
Having thousands of contacts is of no use to you if they aren’t organised and therefore useful.
Categories I instruct my agent clients to use include: buyers, buyer hit list, potential sellers, market appraisals, seller hit list, current clients, past clients bought, past clients sold, key referrers and landlords.
If you do decide to shadow another agent within your company, there are three key factors when choosing your mentor.
- Look for the person who has the highest number of listings, sales and income production.
- Focus on an agent who is the person you envisage yourself becoming.
- Look for someone who has successful systems that can be replicated and taught.
One of the many areas your mentor can help you with is the art of prospecting and making successful phone calls. As an agent you need to learn to ask the right questions in order to jump the hurdles reluctant customers throw at you. Navigating customer-blocking techniques is a vital skill that will see you booking appointments and starting new relationships.
Finally, smile and invest in your own personal development; you’ll see an incredible return.