30 posts categorized "Real Estate Team Building " Feed

Real Estate Team Building Tip #4: Your Operations Manual is the Cornerstone of Your Foundation

Takeaways, Key Points and Action Items from this Episode:

Whether you are building an agent real estate team or not, a standard operating procedures and tasks manual for each of the major areas of your business is the cornerstone of your foundation. The benefits of having a written procedures manual include:

  • Delegation and clarity on who is responsible for specific tasks and systems
  • Allows you to create checklists for your systems and processes
  • Becomes the core Training Document for new hires
  • Allows your Team Associates to easily plugin to your existing systems
  • Serves as a core document for your eventual exit strategy

Create written procedures for each major area of your business.

  • Listings (Sellers)
  • Sales (Buyers)
  • Lead Gen – Database
  • Lead Gen – Farms
  • Lead Gen – Social Media, Internet
  • Lead Gen – Networking
  • Hiring & Onboarding
  • Team Admin

  Subscribe to Our Mailing List HERE to access these bonus downloads:

  • Real Estate Business System Assessment
  • Team Tasks & Procedures Guide (excel doc)
  • 10 Best Practices for a Productive Real Estate Team

 


Our turnkey, complete team building system includes all of the materials, supporting documents, checklists and manuals along with the step-by-step implementation training delivered via our on-demand video coaching platform. Visit www.RealEstateTeamBuilder.com to learn more about our “Team Building in a Box” system to build your profitable real estate team. Here is what you’ll receive:

  • Online, On- Demand Real Estate Team Builder Training  
  • Lifetime Access to the Recorded Videos and Documents 
  • Complete Package of Documents, Admin Forms
  • Real Estate Team Builder Procedures Manual 
  • 90 Day Onboarding & Agent Training Manual
  • Team Project management, accountability, communication system

We also provide a wide selection of other real estate and business coaching programs that are designed with the agent in mind to help you build a successful career with real life instruction on how to implement and execute. You can learn about the other products and services provided by WBNL Coaching below:

We recommend Top Producer Success Suite to “Run Your Business Like a Business.”  

Contact our partner at Top Producer to learn more: Colin Burton | Partner Channel Manager
Direct:  888-547-5331 Mobile:  778-960-5331
Book a call with Colin


Real Estate Team Building Tip #3: Agent Team Models - Which One Is Right For You?

 

There are several model variations for real estate agent teams.  In this real estate team building tip, we discuss the differences, pros and cons for the primary models we have identified at WBNL Coaching and Real Estate Team Builder:

  • Partnership
  • Informal Team
  • Rainmaker Team
  • Traditional Broker-Style Team
  • Expansion Team

Partnerships

  • Two or more team leaders form a partnership
    • Spouses, family, related in some way
    • Individual agents join forces to build a team
  • Identify strengths and weaknesses – partnerships can balance
  • Leverage time and resources
  • Brings credibility and added value
  • Written partnership agreement
    • Outlines division of tasks/responsibilities
    • Addresses expenses and how covered by partners
      • Marketing LLC?
    • How commission is shared: all business vs. personal SOI
      • Dig in to the details here – second and third generation leads?
    • Dissolution clause that addresses database, any intellectual property, websites, software, open escrows and listings

 

Informal Team

  • Lead Agent gives referrals / leads to other agents
  • Written referral agreement
  • Referred agents conduct own business without sharing commissions with Lead Agent
  • Pros: minimal responsibility for managing a team for lead agent; less risk and commitment to resources
  • Cons: Less control over lead and priority referred agent gives this business vs. their own

Rainmaker Team

  • Team Leader(s) is in charge; primarily listing agent, rainmaker (lead generator).
  • Internet-based lead generation teams produce primarily buyer sales
  • Team associates also generate their own leads (Teach to fish)
  • Team size and structure varies based on goals and production of the Team Leader
  • Written agreements with Team Associates outlining commission sharing, termination policy, team procedures, expectations, termination policy.
  • It’s not always about the leads! Team associates want structure, security and to learn from the top producer.
  • Pros: Increase productivity; additional income; specialization; leverage time and resources with the right team members
  • Cons: Inevitable challenges that come with managing people; turnover; recruiting and retaining good agents

RainmakerTeam

Variations of the organization chart

  • Dual roles for key position
    • Team Manager is also the leads manager
    • Admin serves as TC, Marketing
    • Hire to additional positions when needed (set a revenue goal)
  • Define Your Listing Policy
    • Can Buyers Agents List?
    • Or are all listings referred to team leader
    • Are listings in Team Leaders name/MLS ID with TA listed as co-listing agent
    • Recommend Team Yard sign with optional sign rider
    • Do you want a listings specialist or showing agent?

Traditional Brokerage Style Team

  • Team Leader(s) has more of broker-owner/COO role. May list and sell but not primary role as in Rainmaker Team.
  • Team size and structure varies based on goals
  • Model focuses on hiring and training new or newer licensees
  • Must have a new agent training program and team manger(s) (10-15 agents to 1 manager ratio is recommended)
  • Must compete with traditional companies who focus on new agents with tools, resources, support and training.
  • Written agreements with Team Associates outlining commission sharing, termination policy, team procedures, expectations, termination policy.
  • It’s not always about the leads! New agents want structure, security, training, mentoring and leadership.
  • Pros: Higher team dollar generated initially with lower splits; Increase productivity; specialization; leverage time and resources with the right team members
  • Cons: Time and expense of training new agents; turnover of new licensees; recruiting and retaining good agents; retaining solid team managers; always recruiting; managing larger operation

 

TraditionalTeam

 

Expansion Team Model

  • Both the Rainmaker & Traditional Brokerage Style Model will work for expansion teams
  • Must have rock solid team operations manual and turnkey systems in place
  • Identify Team Manager first in new market
  • Team Leader and primary staff support the satellite teams (Home base operations)
  • Leverage technology, cloud-based operations
  • Ideally - stay within your company/franchise

 

Our turnkey, complete team building system includes all of the materials, supporting documents, checklists and manuals along with the step-by-step implementation training delivered via our on-demand video coaching platform.

Visit www.RealEstateTeamBuilder.com to learn more about our “Team Building in a Box” system to build your profitable real estate team.  

 

We also provide a wide selection of other real estate and business coaching programs that are designed with the agent in mind to help you build a successful career with real life instruction on how to implement and execute.

 

You can learn about the other products and services provided by WBNL Coaching below:


Real Estate Team Building Tip #2: Four Archetypes and How They Fit in Teams

 

 

We have asked this question thousands of times to brokers and agents… If you hire 10 people to your company – how many are going to make it in the real estate business?

The answer is NEVER more than 2!

Many managers and trainers believe they can ”fix” people.  They are confident that because their company has the best tools, training and support and that they care and are a great manger, they can get most of these new agents to be successful in the business. Here’s the reality – you can’t fix people.  They are who they are!  Each person comes with their own degree of self-confidence, personality traits, behaviors and success characteristics. Now, they all have the dream and wish to be successful in the real estate business.  Success for many first year real estate agents is typically to earn $100,000.  It is possible to earn this in the first year if the agent is ready, willing, and able to get out of their comfort zone and get in front of enough people who need their service – to buy or sell real estate.  It also requires great sales skill, inventory (market) knowledge, and technical expertise. 

This real estate business requires constant, ongoing education and training.  And, as always, experience is the best teacher. So, why do so many fail in this business?  Why are approximately 75% of agents out of the business within the first two years of being licensed? Our collective experience and observations suggest the following:

  • Approximately 10-15% of the active agent population enjoys great success and are the highest income earners – the “Top Producers”.
  • This top group of people exhibits common characteristics that lead to this ultimate business success.
  • Most licensees have an employee-mindset and never make the shift to entrepreneur and small business owner.
  • Most licensees are not willing to do what it takes to make it in commission-sales based industry.

  Four Real Estate Archetypes - WBNL Coaching

Three of the following four major types of individuals who, once identified, fit into a real estate team building model.  To better understand the three types let’s take a look at the following factors for each group:

  • Risk vs. Security
  • Specific behaviors and characteristics
  • Desired role and responsibilities

The Entrepreneur (Team Leader)

  • The calculated risk-taker
  • They are not afraid to work alone
  • Natural salesman, enjoy the art of the deal (the rainmakers)
  • They are driven, success-oriented, persistent
  • Type-A personality, the controllers/drivers with a solid work ethic
  • FIT: The Top Producers…Team Leader or Individual Lead Agent (approximately 5-10% of the population)

The Manager (Team/Office Manager)

  • This is the person who prefers to manage, supervise, and coach others
  • Their motivation is to give back, to inspire, to build confidence in others
  • They are comfortable being “second in command”
  • They generally have management/supervisory experience prior to real estate
  • They are more detail-oriented, good administrators and systemizers.
  • Risk factor is moderate to low.
  • FIT:  Team Manager/Office Manager (approximately 20% of the population)

The Individual Contributor (Admins/Team Associates)

  • Represents the largest portion of the population
  • They prefer to work in a group environment
  • Security influences this person – not big risk-takers
  • Prefer to be a contributing member of a team
  • Typically, this person needs and desires support systems, direction, mentoring, and leadership to thrive and succeed
  • They generally come from an employee background and are used to and really want structure and accountability
  • They are the belongers
  • FIT:  Team Associate, Buyers Agent, Licensed Admin Assistant, Hourly/Salaried Employee (approximately 30-40% of population)

The Hobbyist / Part-Timer

An estimated 40% of licensees are in this group. Many will ultimately exit the real estate industry because they simple do not fit or they will maintain a license as a “hobbyist” or part-timer.  You may find suitable admin assistants and occasionally a solid team associate from this group if their commitment and priorities have changed. Our turnkey, complete team building system includes all of the materials, supporting documents, checklists and manuals along with the step-by-step implementation training delivered via our on-demand video coaching platform.


Visit www.RealEstateTeamBuilder.com to learn more about our “Team Building in a Box” system to build your profitable real estate team.   https://youtu.be/bZgLRf8LL7Y We also provide a wide selection of other real estate and business coaching programs that are designed with the agent in mind to help you build a successful career with real life instruction on how to implement and execute. You can learn about the other products and services provided by WBNL Coaching below:


WBNL Coaching on Facebook Live with Real Estate Team Building Trending Tips

We are excited to bring you 12 weeks of Trending Tips on Team Building hosted by Jan O'Brien, Real Estate and Life Coach via Facebook Live.

Please join us live every Mondays at 10:00am (PST).  Connect with Jan on Facebook here: https://www.facebook.com/jan.obrien

 

Scheduled Topics:


Monday, August 22
Two Critical Keys to Success

  1. Hire Talented People to Key Positions
  2. Implement Effective Real Estate Business Systems
Monday, August 29
The Four Archetypes and Where They Fit in Teams
  1. The Entrepreneur 
  2. The Manager
  3. The Individual Contributor
  4. The Hobbyist/Part-Timer

Monday, September 5 
Agent Team Models – Which One is Right for You?

  • Partnership
  • Informal Team
  • Rainmaker Team
  • Traditional Brokerage-Style Team
  • Expansion Team

Monday, September 12
Your Team Operations Manual is the Cornerstone of Your Foundation

Monday, September 19
Three Phases of Hiring and Retaining Talent

  1. Attract, Screen & Hire
  2. Onboarding & 90-Day Training Plan
  3. Accountability, Retention & Leadership

Monday, September 26
Create Your Real Estate Team Business Plan & Goals

Monday, October 3
Know Your Agent Attraction Value Proposition

Monday, October 10
Develop Your Affiliation Proposal

Monday, October 17
5 Creative Ways to Attract Team Agents

Monday, October 24
Implement a 90 Day Training Plan so Team Agents Simply Plugin to Your Systems

Monday, October 31
Your Culture is the Best Attraction Magnet

Monday, November 7
Build an Asset to Create Your Exit Strategy or How To Find Your Replacement and/or Sell Your Team!

 

Ready to start building your team?  Mark your calendar today!  Bring your questions, comments and experience with team building. And don't forget to go to Facebook and connect with Jan so that you can join the event and receive a notification when she is LIVE on Facebook!

See Previous Tips in the Series on our YOUTube Channel HERE or click the image below.

WBNL Coaching on YouTube


Real Estate Team Building Tip 1: Two Critical Keys to Building a Successful Real Estate Team

Now Trending: Real Estate Teams!


For many years, Teams have been a growing segment of the industry. Clearly the acceptance of this segment in the industry has changed, as proven by the recently distributed “The Real Estate Teams Playbook” developed by RealTrends, BoomTown!, dot loop, and ERA Real Estate.  It is an interesting read and is packed with great information for people who are interested in jumping into Team Building.

At WBNL Coaching, we  have always believed that the industry would trend in this direction so we developed Real Estate Team Builder, a turn-key program, that not only coaches Team Leaders through the basics of the process but gives them the structure and foundation to make their Team profitable for the long term.

  

Building a successful and profitable team is truly an art as well as a science.  The initial priority considerations are hiring talented individuals for your key staff positions and implementing effective business and real estate systems.   It is important to remember that your role in the Team is to function as the CEO.  You must think of and run your business as a true business.  If you are comfortable with that you will be able to execute the steps needed to build your team.

1.   Hire Talented People to Key Positions

This process will be different for each CEO and will depend greatly on the state of your current business and the goals in which you desire to obtain in the future.  At WBNL Coaching we are clear that a solid foundation is the key to success.  Don’t rush it and skip steps, what you do to put procedures and systems in place will pay off exponentially over time.  We have created a Real Estate Business Assessment that will give you a clear picture of the current state of your business.

Your key initial player is a solid administrative assistant/transaction coordinator.  Hiring an assistant is actually first priority if you don’t already have one.  A general rule of thumb is that you are ready for an assistant when you are consistently closing 2-3 transactions each month.  The primary responsibilities include:

  • Managing your marketing
  • Listing manager (List to Contract)
  • Transaction coordination (Contract to Close)
  • Administrative support
  • Database (CRM) management
  • Oversee all other team systems
  • Team admin & operations tasks
  • Support of Team Leader, Team Manager, Agents

Another key to building a successful, productive and enduring team is having an effective Team Manager. The CEO (YOU) who recognizes this basic concept will enjoy the benefits of more time, more income, less stress and the creation of a business asset that incorporates an exit strategy (the brokerage within the brokerage model).

Beyond training and coaching the agents, the Team Manager should have the skillset to support your goals of increasing business and profitability; to recruit, select, train and manage productive buyers agents in support of the Team; to assist in developing and maintaining various business systems to include past client and referral system, farming, working with buyers and sellers.

The duties and responsibilities of the Team Manager can include:

  • Recruiting, training, coaching and accountability of team associates.
  • Conducting a weekly team meeting with all team associates to include training and  holding TA’s accountable to committed activities.
  • Managing all team leads and distributing leads to qualified team associates.
  • Utilizing an approved lead and escrow tracking system to manage the team’s activity and transactions.
  • Submitting any Team reports on Team production as necessary and directed.
    • Maintaining the required Team Building systems for the Team (SOI/past client follow-up System; Listing System; Farming System; Lead & Escrow Tracking System; Team Building Basics).
    • Supporting the team operations with the Admin and Team Leader

2.  Implement Effective Systems

The following business and real estate systems are essential to creating a productive, profitable and successful team:

  1. Business and Financial Essentials
  2. Team Vision, Mission and Core Values
  3. Team Unique Value Proposition (UVP)
  4. Team Business Plan & Goal Setting
  5. Team SOI/Referral System
  6. Team Listing System
  7. Team Buyer System
  8. Team Farming System
  9. Lead Generation & Follow-up Systems
  10. Recruiting/Affiliation System

Real Estate Team Builder - Overview

Visit www.RealEstateTeamBuilder.com to learn more about our Team Building turn-key system.


We also provide a wide selection of other real estate and business coaching programs that are designed with the agent in mind to help you build a successful career with real life instruction on how to implement and execute. 

You can learn about the other products and services provided by WBNL Coaching below:


Sindeo Interviews WBNL Coaching on Building a Real Estate Team

WBNL Coaching had the pleasure of being interviewed by Katie Lance for a #SindeoSitdown  episode in May 2016.

Thanks to Katie and Sindeo for a great conversation on How to Build a Successful Real Estate Agent Team.  Watch the replay above as we cover the following questions.  Make sure to download the Key Takeaways handout here:  Download 04062-I-BuildSuccessfulRealEstateTeam  to get the answers to the questions below~

  • When do you know you're ready to start a team?

  • Once you know, where do you start? Who do you hire first?

  • What kind of agent do you hire? Another independent agent to do deals? A new agent to learn and sit at open houses? A tech/marketing pro?

  • What kind of ad should you create to recruit and where should you run your ads?

  • How do you onboard new team members?

  • Any tools, apps or systems you can recommend them using to manage a team?

 

Interested in Building a Real Estate Team? Check out our complete, turnkey REAL ESTATE TEAM BUILDER System
 

30 Day Free Trial – Join the WBNL Coaching Wanderers Club – The online, virtual coaching and training platform for Real Estate and Business Professionals.

 

Your basic, FREE membership includes: WBNL Coaching Real Estate Business Plan Online Course and Downloads

 

Check our EVENTS CALENDAR for upcoming live workshops, free webinars

 


[Free Webinar] How to Build a Profitable Real Estate Team, 6-30-16, 1:00pm PST

RETB-Agent Team Building

In this free webinar, we will share key strategies and tactics to building a successful and profitable real estate team:

  1. Understanding the Four Archetypes and How They Fit
  2. The Two Critical Components of Team Building
  3. How to Hire the Right Assistant for You
  4. Keys to Implementing Effective Real Estate Systems
  5. Attracting and Retaining Productive Buyers Agents
  6. Build an Asset and Your Exit Strategy

All attendees receive these free downloads:

  • Are you on track? Find out with our Real Estate Business System Assessment
  • 10 Best Practices of Successful Real Estate Teams
  • Real Estate Team Building Workbook

Thursday, June 30, 2016 | 1:00 - 2:00 pm (PST)

register now

Your Coach/Trainer is Jan O’Brien

Jan’s LinkedIn Profile

702.858.9191 Jan@JanOBrien.com

As a real estate broker, coach and industry leader for over 23 years, Jan is keenly aware that the single biggest obstacle in the business is implementation of the basic systems and activities that are the foundation of a prosperous and long-lived career in real estate. She will share the systems, tools, resources and real-world experience that will guide you to developing your profitable team. Learn more about Wandering But Not Lost (WBNL) Coaching by clicking here. WBNLCgreen


WBNL Coaching Membership Platform Launches 11-11-15

 

WBNL Coaching is officially launched! Thanks to everyone who attended our Real Estate Business Reboot in Las Vegas on 11-11-15.

Visit www.WBNLCoaching.com to learn more about our coaching program and online training membership options. Your FREE, basic membership includes a complete real estate business-planning course and downloads.


Join the Wanderers Club for the introductory, limited time membership fee of only $27/month (Price changes to $67/mth on 1-1-16) to access all of the member benefits including monthly training webinars, group coaching sessions, online training courses, private Facebook and LinkedIn Groups.

 


How to Build a Profitable Real Estate Team

Building a successful and profitable team is truly an art as well as a science. 

The first two agent team building principles are hiring talented individuals for your key staff positions and implementing effective business and real estate systems.

WBNL Coaching TeamBuildingjpg

 

Team Building Principle #1: Hire Talented People to Key Positions

Your first key player is a solid administrative assistant/transaction coordinator.  Hiring an assistant is actually first priority if you don’t already have one.  A general rule of thumb is that you are ready for an assistant when you are consistently closing 2-3 transactions each month.

Here are some documents to get you started in the process of hiring an assistant:

Team Manager – A Critical Factor

The key to building a successful, productive and enduring team is having an effective Team Manager.  The Team Leader who recognizes this basic concept will enjoy the benefits of more time, more income, less stress and the creation of a business asset that incorporates an exit strategy (the brokerage within the brokerage model).

The duties and responsibilities of the Team Manager include:

  • Set up and implementation of all team building systems that generate additional leads and income for the team
  • Recruiting team associates
  • Training and retaining team associates
  • Holding the team associates accountable to goals and production standards

Don’t hire team associates (buyers agents) until you are ready! 

And ready means (1) you have an administrative assistant or transaction coordinator and ideally also a Team Manager and (2) you have your established systems in place.  You must have your house in order before hiring agents to join your team!

Team Building Principle #2:  Implement Effective Systems

The following business and real estate systems are essential to creating a productive, profitable and successful team:

  • Business Basics, Incorporating and Financial Essentials
  • Team Vision, Mission and Core Values
  • Team Unique Value Proposition (UVP)
  • Team Organizational Chart
  • Team Business Plan & Goal Setting
  • Team Building Basics
  • Team SOI/Referral System
  • Team Listing System
  • Team Farming System
  • Lead Generation & Follow-up Systems
  • Recruiting / Affiliation System
  • Exit Strategy

Systems + Staff = Success & Sanity!

Recommended Reading:

 

Join the WBNL Coaching Wanderers Club

The online, virtual coaching and training platform for Real Estate and Business Professionals.  The Art & Science of Agent Team Building will be one of the certification courses available.

Your basic,  FREE membership includes:

WBNL Coaching Real Estate Business Plan Online Course and Downloads


Create a Powerful Referral System with these 7 Action Steps

SOI/ Past Client Referral System

There are 3 basic reasons why many agents fail to conquer the most important real estate system to implement – your Sphere of Influence (SOI) and Past Client Referral System.

  1. They never decide on a contact management or software solution.
  2. If they have a solution, they don’t enter the contacts, sort and categorize them.
  3. They over-analyze or never decide what to do or send out each month – thus, ultimately doing nothing for months on end.

So, let’s break it down step-by-step, get this critical system in place and generating business and referrals immediately.  The key to implementing this system is to commit to the process and set a deadline to complete each action step, one at a time. 

 

Action Step 1 - Create your list of past clients and sphere of influence.  If you have started a list or have it scattered in 2 or 3 places (MLS client, Outlook, other email program, scraps of paper, transaction folders, etc) get it all together in one place.  Make sure you have all the vital information on your contacts – names, address, emails, phone numbers, social media.  

Set deadline for completion: __________

Action Step 2 - Decide on a contact management /real estate transaction system.  You can choose a program like Outlook to get started and always upgrade to a more comprehensive, real estate-specific program.  The important thing is to choose something and just get started!  When researching and deciding on the right Customer Relationship Management software for you… consider these features to compare…

  • Accessibility (Mobile access, cloud-based, desktop)
  • Ease of use
  • Price (One time cost vs. monthly subscription)
  • Import/Export capability
  • Auto drip email campaigns
  • Action plans
  • Transaction management
  • Listing management
  • Contact/Client management 

REST – Real Estate Success Tracker  (www.GetRESTnow.com )  ($399 for single user license)

http://www.realestatesuccesstools.com
Highly recommended. Easy to use, more intuitive, not as complicated as many programs. 
Single and multi-user options available.  You install REST on your desktop/laptop but you can also remotely access from your PDA or another computer.

REST_Assured, hosted option for $34.98/mth

Top Producer, http://www/topproducer.com ($ 39.95/mth). Top Producer is a comprehensive cloud-based CRM (Customer Relationship Management) and real estate transaction management system.  Multiple related products integrate with the CRM module (MArket Snapshot, Websites, IDX, Connector for MLS)

Realty Juggler  http://www.realtyjuggler.com   ($99/yr   Free 90 day trial) Cloud-based CRM, mobile access, real estate flyers, activity/task plans, print labels, letters, drip emails, track production, team support 

Wise Agent http://wiseagent.com  ($24.95/mth  Free  30 day Trial ) Cloud-based CRM with contact manager, transaction manager, doc storage, email drip campaigns, flyers, newsletter, letters, property lists, to do lists, text and email alerts

Other CRM solutions

Real Estate Website – Your Back Office of your real estate website solution may have a CRM component

Email newsletters and email list management options:

 Research the solutions and make a decision.  Set deadline for purchase, installation and familiarization/training: _____________

 

Action Step 3 - Input all contact information into selected program.  Set aside a few hours and get this task done!  If you aren’t going to get to this task any time soon - hire someone to get this job done for you.  Computer-savvy people (teenagers, family members, your colleagues’ family members, agents in your office, local high school or community college students) are everywhere – find someone and hire them for this project. 

Set your deadline: ________________

 

Action Step 4 - Sort and categorize your database.  Optimally, complete this step simultaneously with the data entry of Step 3.  I recommend using the technique taught by Brian Buffini to sort your database:

  • A+ Multiple transactions or multiple referrals
  • A Referred at least one client
  • B Haven’t referred yet – probably will when you remind them/show them how
  • C You know them/just met them – haven’t sold them a home yet
  • D Delete - Not going to mail to them

You can also group your database by other specific categories or contact types (sellers, buyers, farm, past clients, newsletter, prospects, vendors, investors, short sale prospects, etc).

 

Action Step 5 - Create an Introduction or Reconnect letter with a deadline to mail out.

  • The letter should outline what the recipient can expect from this point forward; what services you provide; your client appreciation program; local market updates; annual market analysis of their property; business-to-business resources to name some possibilities.
  • If you are a New Agent, ask your broker for an endorsement letter from your Broker – company.  The concept here is the SOI member knows that the agent is new and may not have a high level of confidence in their ability or experience yet.   The letter reassures the potential client that not only do you get the agent but a team of professionals and support staff.
  • For those of you who have not done a great job staying in regular contact with your database, write a “reconnect” letter. 

Bonus Action Step:

Make a follow-up phone call after you send the letter or email. This one extra step will help you immediately sort your database and the major side benefit…you will more than likely generate business either directly or by referral from the activity of all the calls you make.

Make sure to cover these points on the call:

  • Ask them how they prefer to be contacted and updated (email, mail, texting, call)
  • Verify you have their preferred email and accurate contact info (use the Client Information Form)
  • Always ask for a referral!  “Who is the next person you know (or.. Who do you know…)  who is interested in investing in real estate?  Considering selling their home or buying anew home?

Set deadline for completion: __________

 

Action Step 6 - Decide on what you are going to mail or email each month.  This is the step many agents get stuck on.  They can’t decide on what to send or procrastinate about it or waste time creating their own newsletter or mailout.  Here are some suggestions to get you started.  Just pick one and do it.  You can always modify and refine later.

We recommend 30-40 connections annually.  A connection could be a call, email, mailer, text or face-to-face meeting.  Here is a sample connection plan:12 monthly newsletters

  • 12 monthly newsletters
  • 4 phone calls (call A+, A, and B contacts at least quarterly)
  • 4 personal notes (After these phone calls for sure.  And any other opportunity like when you receive a referral.)
  • 4 success mailers (quarterly just listed/just sold mailer)
  • 8 Holiday postcards, emails or flyers
  • 6-8 Seasonal postcards, emails or flyers (Time change, home maintenance, market reports)
  • Four Key Connects to include:
    • Settlement Statement (send first week of January for all closings from previous year)
    • Anniversary card, email, or call
    • Birthday card, email ,call or text
    • Annual Market Analysis
  • Current Market Data
    • Local or State REALTOR Association
      GLVAR has a Consumer Newsletter
      CAR has Client Direct – online newsletter
    • Most local Title Companies provide excellent market condition reports.  This is the information people are most interested in – what is happening in your local market.  Be the provider of that information!
    • Altos Research  http://www.altosresearch.com
    • Market Snapshot  http://www.topproducer.com/products/market-snapshot.aspx

 

Action Step 7Systemize it!  This is the final step and a key to the overall success of the system.  It simply means deciding on a day or week of the month that you will actually prepare and send out your monthly mailer or email.  Schedule it.  Place it on a visible calendar and make it happen.  Hire someone to get this task complete for you if you don’t want to do it yourself.

 

 

Join our Wanderers' Club - The Real Estate Training & Coaching Membership Platform

Member Benefits include:

  • 3 Steps to a Powerful Real Estate Business Plan Course
  • Monthly WBNL Coaching Newsletter +Access to members only articles and downloads
  • Access to All Online, On-Demand WBNL Courses
  • Monthly Training Workshops
  • Private Facebook Group
  • Private LinkedIn Group
  • Monthly Group Coaching & Support Online Event
  • Special discounted pricing on WBNL events and products