Did you know that the average real estate agent makes less than what they could potentially earn? Especially when you think about how many hours the average real estate agent has to work? The average agent is probably not earning what they really could. The key word there though, is average. Average agents make average wages.
We’re betting you want to be above the average, which is we’ve compiled a list of what not to do.
Error 1: Spending your time doing data entry and admin work –
Why spend your valued time doing things you can easily outsource for a greater return on investment? You have an extra hour or two every day, you can certainly find the time to do it right? Besides, it’s not like that extra time would be better spent focusing on calling your leads or making more sales…right? Wrong! Outsource these tasks to focus on your core expertise.
Error 2: Not following up with your leads –
In this business, follow up is everything!And – you must do so in timely fashion. While a stellar real estate agent follows up on every single one of their leads as soon as possible, an average real estate agent will wait several days before calling their leads. What can you outsource or implement to give you more time to follow up with your leads?
Error 3: Not implementing systems –
Implementing a system in the way your agency operates is a great way to take turn the agency into a well-oiled machine that can run on its own. Of course, an average agency won’t use any types of systems, so you can just forget about implementing systems if you have an interest in remaining average.
Error 4: Not keeping a database –
A database, or CRM system, is a great place to keep all sorts of including leads, contacts, past sales and all of your communications with these types of people.
Error 5: Not being in touch with past clients or ask for referrals –
A stellar real estate agent will keep in touch with his past clients, and follow up on how they are doing after the sale. They understand that even though money has already changed hands, the relationship isn’t over. As a result, the past clients are much more likely to recommend their real estate agent to friends and family who might be looking for a new home. Another thing stellar real estate agents do is they reach out to people in their circles for referrals. They understand that this is the key to bringing in more customers without having to spend on marketing.
Error 6: Thinking like an employee of yourself, versus longterm vision—
Stellar real estate agents think about longer term vision and success of the company. This includes, ways to improve efficiency, reach out to more people, and always staying top of mind. They take time to run their business, versus working for it.