Updated: Jul 15, 2021
When I meet with sellers, I explain that they will have the most activity in the first two weeks of their home hitting the market. I explain to them that it is like hunters and trappers. When people decide they want to buy, they get pre-approved, then they go on the hunt. After they have exhausted any inventory that suits their needs, they then set a trap for any new properties that hit the market. This trap is usually some form of alert that either they or their agent sets for them to notify them of the new listing.
So while most of the flurry will be trappers, the hunters will steadily flow as well. This is why the most activity occurs in the first several weeks.
During one of my group coaching sessions, I said that agents are the same way, in a sense. We need to continually hunt for new business. That is the grinding activity. The calls, follow-ups and networking; those hunting activities are vital to our longevity and success. But we are also trappers. We are setting social and digital ads, farming, sending out postcards, etc.
Basically, it really comes down to passive and active lead generation. We need to do both for real success. The trap works while you are hunting. We need to constantly check our traps. That means looking at the ad engagement, relevance rate and demographics, and tracking our business from mailers and printed marketing.
Business really can be broken down into four quadrants:
SOI, Past Clients
Events. Chamber, Charity, BNI, etc.
Social and Digital
Farm and Print
Note: What I am about to say does not include marketing properties you listed. That is a strategy, of course, but I want to start from ground zero, and having a listing is a unique advantage. But you do need a solid strategy to market your listings for more business.
What you will want to do is identify the methods that make sense for you and your situation. If you are new, you have nothing but time and, most likely, limited funds, then you should spend more time on methods that take more time, but are less expensive. Calling is a solid strategy, and you should do more calling than a busy agent. I heard Tim Heyl once say he had nothing but time, so he just called all day. Use the same approach. The cost for this is less than a couple hundred bucks.
Door-knocking is another mostly free activity. Mostly free because you will probably be printing something out.
Networking can be free or next to free, and then progress to more advanced strategies that cost money, like private networking events, paid services, lunches and dinners, or other events.
You can build an amazing online presence with community pages, blogs, live video, raffles, sweepstakes, etc. These options are inexpensive, but take time. You can also do what so many others do—throw a ton of money at online leads and social ads.
And speaking of social posting, video is the most consumed content on social media. The statistics around it are ridiculous. YouTube attracts more 18-49-year-olds than cable. Video is 100 times more likely to be shared than any other content. You can do something one time and it continues to be seen month after month. You should seriously consider making videos.
To get you started, here is an article on 5 different video ideas for real estate agents: https://www.partnerwithmytown.com/post/different-video-ideas-for-real-estate-agents
Whatever you decide, you need to build a strategy around it, time block, and do it consistently. For example: if you are going to focus on calling, a solid strategy would look like this (I also added a networking component):
MONDAY – FRIDAY
10:30-11:30 Prep Circle Dialing
11:30-12:00 Clean up emails
12:00-1:00 Lunch with client, prospect, Power Circle member, or networking partner
1:00-4:00 Circle Dial
If you do not have any appointments, then you MUST lead-generate. That is a high-yield activity. You must identify high-yield and low-yield activities. ONLY focus on high-yield activities 8:30-5:30. Ads, flyers, open house stuff, social posting can all be done during the evening hours when The Bachelor is on.
NEVER GIVE UP YOUR HIGH-YIELD TIME FOR LOW-YIELD ACTIVITIES.
The idea is to find what you like, what gets you results, and perfect it. For me, networking was a huge piece to my business. As you continue to grow, a logical hire would be an ISA. I always had telemarketers. They would do the circle dialing, and I focused on Expireds and FSBOs. This freed up my afternoon to plan and attend events. Take clients, prospects or potential network partners skiing, sailing or golfing. It was like I worked part-time… but believe it or not, those activities worked because I received a ton of business from them.
I also spent time conducting my own or shared happy hour events. For one event I hosted, close to 100 people came to a local Minor League Baseball game. I greeted and talked to every single one of them. It was a great event and I received several referrals.
It was part of the strategy. It did not just happen; it took planning, implementation, and action. Anyone can do it.
It all starts with being a hunter and trapper. You must hunt NOW, and over time you will start to set traps and figure out which ones work and don’t. Eventually, you will perfect one through the continual honing process.
Explore My Town offers a turn-key solution for video production, complete with scripting, editing, and marketing. If you want a video solution that will help position you as the most visible agent in your market, let’s connect: https://exploremytown.com/partner
Till next time,
To learn more about Explore My Town, visit www.partnerwithmytown.com
Watch the training, The 5 Components of Video Marketing: https://www.partnerwithmytown.com/5-components-of-video-marketing
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