Last year presented unique challenges that nobody could have predicted, including how real estate agents conducted business, which also met significant changes. Digital meetings and virtual tours became the norm, while in-person showings required specific protocols and other safety measures.
Rob Thomson of Jupiter presents these tips to boost your productivity and effectiveness as a real estate agent in 2021:
Make Sure to Set Aside Enough Funds to Tide You Over in Lean Times
First things first, you’d want to start setting aside enough funds if you intend to establish a real estate career this year or the next.
As a real estate agent, you must have a phone, your own vehicle (in most cases), a personal computer, and access to the internet at the bare minimum. Most brokerages expect you to provide these must-haves and cover other startup costs on your own. Not to mention, it could take a few months before you receive your first commission, so you need to shoulder your everyday living expenses during that period.
While funding may be up for grabs for qualified agents, it’s still best to save a little money at a time to ensure you can cover your expenses for a few months. Most importantly, if you do tap into your savings account, make sure to replenish it as soon as you begin earning commissions.
Markets go through ups and downs, so you can expect to have lean times here and there. For this reason, it’s always a good idea to be prepared at all times.
Create a Concrete Gameplan and Hold Yourself Accountable
To be a successful real estate agent, you’ll need to develop a unique strategy and a foolproof game plan. Start by setting your objectives and creating a business plan to attract new clients.
While strategizing, you may refer to these supplementary tips:
- Think about your one-of-a-kind selling point. You may put this into writing by coming up with one or two sentences about what could entice prospective clients to hire you.
- Create a budget that focuses on efforts and projects that you believe may have the greatest return on investment potential. This strategy helps ensure that you’ll utilize funds effectively and for their intended purposes.
- Device a calendar to help you schedule marketing and networking tasks, such as email blasts, social media, trade shows, direct mail, and paid search.
- Develop metrics and regular tasks aimed at assisting you in realizing your goals and achieving your objectives.
Once you finalize your course of action, you must hold yourself accountable for it.
Incorporate Advertising Techniques Into Your Overall Strategy — It’s Less Expensive Than You Think
Marketing and advertising are critical to your success as a real estate agent. Nowadays, both don’t need to cost you a lot. All you need to come up with at the start is a catchy slogan that will set you apart. After which, there are various ways that you can use to reach out to prospective clients and market yourself effectively, both online and in-person, while staying within your preferred budget.
For instance, you can try your hand at internet marketing, wherein you may advertise on search engines for a banner ad, which only charges you if an interested party clicks on it.
Alternatively, email marketing is an ongoing trend that you may consider. You can take advantage of email automation software to keep in touch with both previous and current clients. Using this strategy, you may provide them with valuable resources, such as eBooks, or keep them in the loop for exclusive offers and rewards. Just make sure to pair these giveaways with call-to-action statements to keep track of those who are most interested in purchasing a property.
Utilize Networking Possibilities to their Fullest Potential
Nowadays, remote work opportunities are very much in abundance due to the prevailing circumstances. As a result, it’s now more than just a possibility for potential clients to move away from their current cities.
As a real estate agent, this development may very well mean that you’ll need to establish partnerships with other professionals around the city, state, and country to share referrals for clients looking to relocate outside of their service area and vice versa.
Having a network of agents you can count on is important in managing clients with requirements you can’t fulfill, such as a price point that is unfamiliar to you. Instead of diving into unknown waters, it’s best to co-list or co-represent with another agent who specializes in your client’s field of interest. Remember, it’s better to split the profit on a property than to miss out on it entirely.
Qualify Your Clients Before Working with Them
You must exert effort in learning more about your potential clients before working with them. You should be able to categorize them based on whether they are interested in making a purchase or are just passively looking for new properties. To ensure that your efforts are rewarded, focus on clients who you think as most ready to make a purchase.
Once you identify them, regularly check in with those who have shown an interest in potentially buying or selling their property. With historically low interest rates and inventory shortages, the market is currently appealing to both buyers and sellers. It wouldn’t hurt to reach out to clients about possibly entering the market, especially if they’re in an excellent financial position.
Pinpoint Client’s Comfort Levels
Everybody is currently navigating through the effects of the COVID-19 pandemic, including the real estate industry. It’s important to understand that many of your clients have different comfort levels, not just in terms of finalizing a purchase but also with nuances dictated by the times, such as in-person contact.
To ensure you pinpoint and meet all your clients’ needs, you need to have an honest conversation before setting up an appointment with them. In line with this, becoming a better communicator should also be one of your goals. When you work with contracts and negotiations, excellent communication skills become significantly more vital.
Create Profiles on Top Social Media Platforms
At present, almost everybody uses the internet, making it one of the most valuable tools for realtors. Take advantage of this by creating a website for yourself, along with social media accounts on some of the top platforms.
Maintain an active presence on these sites while keeping the content you publish and your tone professional. Everything you post becomes free marketing, instantly disseminating messages to your audience made up of previous, current, and prospective clients. To maximize this strategy, you need to encourage your clients to engage in your online group and share your pages to build a community.
Adhere on Fixed Office Hours
Being a real estate agent who’s transitioning to a work-from-home setup may feel like you’re on-call 24 hours a day, seven days a week. To maximize your efficiency and prevent burnout, you must set fixed office hours and strictly adhere to them. You should inform clients of these hours through your website, social media posts, or even your voicemail message so they’d know when to reach you.
In addition, make the most of your days off by engaging in worthwhile routines, such as nature walks, trying a new workout routine, or reading a good book. During your downtime, these sorts of activities will help recharge your batteries and make you feel refreshed in time for your next day at work.
It takes a lot of practice and experience to become a top real estate agent. Even the most seasoned veterans still benefit from new concepts and methodologies they can apply to their line of work. Make sure to follow Rob Thomson Jupiter to achieve breakthroughs in your real estate venture this year.