One Resolution Real Estate Agents Can’t Afford to Quit
By Bryce / December 29, 2014
The year 2015 is the year you will exercise more, kick the smoking habit for good and eat more fruits and veggies for every meal! Oh, and you will spend less cash and make more dough. But guess what? The majority of you will fail in the first few weeks. In fact, 88 percent fall off the wagon according to researcher Richard Wiseman.
One reason for the high failure rate is because people make vague resolutions. Experts say to be successful; make resolutions that are specific and include the necessary steps to get there. For real estate agents who are either new in the business or maybe for those who need to get back on top, here is one specific goal you can achieve in 2015 and the necessary steps to get you there.
Start by answering the following statement:
In 2015 I will resolve to make ____ number of new contacts every day.
Keep in mind, a contact is defined as someone you’ve never met before and have a conversation with for more than 10 seconds.
What are the critical steps necessary for success?
Let’s say you want to make 10 new contacts every day. If that’s the case, ask yourself the following questions and write down your answers. Be realistic about your goal.
- How many people do I need to call? In other words, how many people do you have to call that you’ve never met before to get 10 conversations? Successful agents tell us it takes 75 calls to get 10 contacts, others say its 100 dials. This is where tracking your dial to contact ratio helps.
- How much time do I need to block out in my daily schedule to reach my contact goal? The higher your goal, the longer it may take to get there. Agents tell us this can be anywhere from two to three hours spent on the phone prospecting every day.
- Who are you going to call? Agents tell us they start with expired listings or for sale by owner. Once those lists are exhausted, agents must reach additional people in order to achieve the 10 contact goal. Agents use lead generation products like Cole Realty Resource to call neighbors of just listed or just sold homes, create farming campaigns and to invite people to an upcoming open house.
- What do you want to accomplish during the conversation? Do you want to inform neighbors about an upcoming open house? Add them to your database? Create an appointment? Get a referral? Be specific about the outcome of your conversation and tailor the message accordingly.
- What are you going to say? This stumps a lot of agents, which is why they quickly stop reaching out and making daily contacts. Knowing what you want to accomplish and having a script helps avoid an awkward silence. Regular role playing, listening for cues and asking open ended questions also can help. To get started, download free scripts >>
- What are the next steps? Taking good notes on every contact you reach out to gives you a clear answer. Then you’ll know who to avoid in the future, when to follow up with each contact and how to move the conversation forward successfully. No matter if you use paper files or a CRM, spending a few minutes after each call and jotting down this critical information can help keep track of everyone you’ve talked to and can help determine the next steps for success.
What’s the one resolution you’ve made that you’ve been able to successfully accomplish? What steps did you find were critical in getting you there?