In real estate, productivity is the key to success. For brokers across the country, the higher their firm's productivity is, the better their business is overall. With more opportunities, new challenges and an ever-changing landscape, it's vital that agents and brokers alike keep their eye on the prize every step of the way, through each conversation and every transaction.
In the latest RISMedia webinar—“How to Keep Your Eye on the Prize: Increase Listings and Productivity at Your Firm”—panelists Joe Sesso, executive director of sales and marketing for Homes.com, Anthony Lamacchia, broker/owner of Lamacchia Realty, Inc., and Shy Bundy, office leader at John L. Scott Real Estate, discussed how brokers can increase inventory and the steps needed to take their business to the next level.
The webinar was sponsored by Homes.com and moderated by Verl Workman, CEO and founder of Workman Success Systems.
Step One: Where to Start
Bundy kicked off the discussion by mentioning where brokers need to begin, which includes laying out and understanding exactly what your business, your agents and your clients need.
“Everybody starts with lead generation,” said Bundy. “I think you need to take a step back and think about your goals and your why. This is not an easy game to play. If you're clear on goals and you’re clear on your why, every single day you are going to be able to give it your best.”
By taking a look at where you stand in your market and in your business, as well as reviewing where you were in the previous year, you can determine what works best and continue on that path, and what you can change for better results.
Step Two: Lead Gen Ideas
Once you determine your why, you have to dive into your how.
“You have to identify what pillars of business you want to go after and you have to have a plan and a strategy,” said Bundy, explaining what it takes to come up with successful lead generation ideas for your business.
When it comes to increasing your listings, it is important to know where to start—your sphere of influence, leveraging your listings and taking advantage of off-market opportunities.
“When you identify how you want to generate your business, you have to go deeper, not wider,” she said. “Make your pillar of business from start to finish. You have a plan, you have a strategy. It’s not one and done—that just doesn’t work.”
When it comes to your database, whether that be the people in your personal life, previous clients or your social connections, you want to be sure they know your message and your knowledge of the market. Without this information readily available, they will move on to someone else. Be sure to let them know that YOU are the expert in this business.
Step Three: Can You Close the Deal?
With a plan in place and strategies that will allow your business to strive, it all comes down to follow through.
“Once you obtain that lead, how do you not blow it?” Lamacchia questioned. “Us as REALTORS® need to adapt to the market we are in, and we don’t do a good enough job with that.”
Lamacchia suggested that instead of boasting about how quickly you can sell a home, you should be sure to offer them protection. This protection can be in the form of contingencies, disclosures or simply showcasing your expertise by understanding their concerns and offering solutions, comfort and confidence in your services.
He went on to explain the importance of educating clients and being their point of reference.
“How are sellers going to know how to deal with this market when we haven’t seen a tight inventory market since 2002?” Lammachia said. “It’s our job to educate them.”
Today’s consumers are smart and savvy, but when it comes to real estate, they need someone they can not only trust to guide them through the process, but one who can show them the value of working with an experienced and knowledgeable agent, broker and firm.
“The people in your community that know you, like you and trust you will always come back to you because they see your value,” said Bundy. “You need to maximize that opportunity.”
To learn about how to increase listings and productivity in your firm, check out the full webinar below:
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