Christy and I were coaching some of our real estate clients on a group coaching call today and the prevailing issue for all of them was that they didn’t do consistent lead generation, and they know they “should.”
I got to thinking, which is dangerous of course, and it seems there are three types of real estate agents:
1. Those that do little or no lead generation or prospecting.
2. Those that do consistent lead generation or prospecting.
3. Those that know they want to, know they need to, know they should, yet don’t do it consistently.
If you’re in category #1, as is the vast majority of real estate agents in the country, I would suspect that unless you’ve been around for over 15 years, and/or spend lots and lots of money on advertising, you don’t do more than 12 deals a year, and I’m probably being generous since the average agent in the U.S does between 2.5 and 4.5 deals a year. If you do more than that consistently, let’s bottle you up and sell you because you’re a gold mine! Either that, or you’re a buyer’s agent for someone else and get your leads given to you.
BOTTOM LINE: If you aren’t consistently going after business, you are at the mercy of luck and circumstance, and your paychecks are probably few and far between.
If you’re in category #2 (consistent prospecting), good for you! This is sales, and since there are so many agents in just your office, let alone your market, you realize that you need to go out and get business. The things you have to concentrate on are being smarter and more efficient. You have to worry about boredom, and frustration when the numbers don’t come in. You might want to try to play games with yourself, or your colleagues (if they do what you do). A. How fast can you set an appointment? B. When calling on the phone only accept one of two results: getting hung up on, or setting the appointment. C. You can only call one person to get an appointment today. That’s it. Who will it be?
BOTTOM LINE: You’re net income is much higher than anybody in the other two categories. Even if someone outspends you to advertise, they still won’t net as much as you because your making free phone calls.
CAVEAT: Good consistent lead generation is done on a daily basis and it is being in some sort of physical communication with people. Phone calls, phone messages and door knocking is what I’m talking about. Post cards, letters, emails, etc. do not count as lead generation, however if you do that consistently, it’s better than not doing anything at all.
Category #3 agents are the second largest group of the three. They’re not content to sit and wait for business, yet they don’t do consistent lead generation for a number of reasons. Perhaps they have fear of rejection, or they’re afraid they won’t know What To Say and How To Say It, or they don’t really know who to call, or they have a lack of confidence, or they think their competition is better than them…and the list goes on. Creative avoidance, lack of schedule, lack of motivation, distractions, fires to put out, etc. tend to be the things that show up in category #3’s business.
BOTTOM LINE: What do you want to do about it? What’s it going to take for you to do that thing you know you should do? Do you have goals? Do you want to actually achieve them? Do you want to be in the business for the next 50 years, struggling from month to month, some good, some bad? Ask yourself the hard questions to get to the hard answers. Hire us to coach you, or get in our courses. Get some accountability partners to hold you to do what you say you want to do to move your business forward.
Whatever category you’re in, we can help you. Whether it’s learning what to say, roleplaying, handling objections, or just having a coach support you in acheiving your goals, that’s what You’re The Difference Sales and Life Coaching is here for.
Go get some business!